RFI Evaluations: A Structured Read of the Market — Before You Commit to a Search
A Request for Information gathers comparable fee and service information from a wide pool of providers — enough for your committee to see the market clearly and decide, with documentation, whether a full RFP is warranted. Most RFI engagements complete in roughly 60 days, with weekly status updates throughout.
request for Information (rFI)
Wider Pool, Lighter Process, Real Market Intelligence
An RFI casts a wider net than an RFP: because the process asks less of each respondent, the candidate pool is typically larger — giving your committee a broader representation of the market than a full search would practically allow. Every provider answers the same structured questionnaire, so what comes back is comparable information, not a stack of sales decks.
It's the right tool when a committee needs a documented market read before committing to anything: leadership is asking what else is out there, a provider's ownership just changed, benchmarking flagged a gap worth investigating, or a search is likely in the next year or two and you want to enter it informed.
30 to 40 Questions, Built to Reveal Differences
Our RFIs generally include 30 to 40 questions, structured so your committee comes away understanding each firm's:
Core services and how they're delivered
Service philosophy and how they work with plans like yours
Genuine differentiators — the service points that actually separate firms
Fees, presented on a comparable basis
The questionnaire is calibrated to be worth responding to and easy to compare — long enough to reveal real differences, short enough that quality firms across a wide pool actually complete it.
An RFI Tells You Whether to Run the RFP — Not Who to Hire
We'll be direct about the limits: an RFI does not produce enough information to responsibly change service providers. What it produces is the documented answer to the prior question — is the market offering enough, relative to what you have, that a full evaluation is worth your committee's time?
If the answer is no, you've confirmed your arrangement with a documented market read, at a fraction of an RFP's effort. If the answer is yes, nothing is wasted: the RFI's findings, respondent pool, and criteria carry directly into the RFP as its foundation.
“We were extremely pleased with the process, results and the ease of the project. Culpepper RFp was on time with the agreed upon time line and we appreciated the weekly updates. I would recommend Culpepper RFP to other organizations for similar assignments.”
— Chairperson, Trustee Board
Our References Are Our Clients — All of Them
Our clients engage us for independent evaluations at sensitive moments — often at the direction of counsel — so we don't publish named testimonials or case studies. Discretion is part of the engagement.
What we offer instead is stronger: 100% of Culpepper RFP clients can act as a reference, a standard we've maintained since the firm began. When you're seriously evaluating whether to work with us, we'll connect you directly with organizations similar to yours in size, plan type, and situation — and you can ask them anything.
Not sure whether you need an RFI, benchmarking, or a full RFP? See how the three levels compare → /services
Questions Plan Sponsors Ask About RFIs
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An RFI gathers structured information from a wide pool of providers to give you a market read; an RFP is a complete, documented search to select one. The RFI asks less of each respondent, so it reaches more of the market — but it doesn't go deep enough to responsibly change providers. The RFP goes deep — defined criteria, scoring, finalists, references, negotiation — but with a narrower field. In practice they're sequential tools: the RFI answers whether a search is warranted; the RFP conducts it.
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We'd advise against it — and we'll tell you that even though the deeper engagement isn't always what a client wants to hear. RFI responses are structured summaries, not the due diligence a provider change requires: no finalist presentations, no reference checks, no negotiated terms, no scored comparison against defined criteria. If an RFI response impresses your committee, that's a signal to run the RFP — where that firm can compete properly and your decision file can support the change.
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Yes — response rates are strong when the RFI is run by an independent firm, because providers know it isn't a fishing exercise: a real evaluation may follow, and the questionnaire is calibrated to respect their time. A 30-to-40-question RFI from an independent evaluator signals a serious sponsor, and firms treat it that way.
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Most RFI engagements complete in roughly 60 days, with weekly status updates so you always know where things stand. Your committee's involvement concentrates at the start — agreeing on the question set and the provider pool — and at the end, when we present the comparison and what it means for next steps.
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A structured market summary your committee retains: every response organized for side-by-side comparison, fees on a comparable basis, our observations on genuine differentiators, and a documented conclusion on whether a full RFP is warranted. Whatever you decide, the decision is in writing, with the market data behind it.
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Yes — every client we've ever worked with. 100% of Culpepper RFP clients can act as a reference. Once you're seriously evaluating an engagement, we'll connect you with organizations similar to yours, and what you ask them is up to you.
Does Your Committee Know What the Market Looks Like Right Now?
If the honest answer is 'not on paper,' schedule a call with Jay. You'll leave knowing whether an RFI fits your situation — or whether benchmarking or a full RFP is the better tool.