An RFP is a questionnaire designed to obtain the necessary information to help identify the optimal provider for a given mandate. As part of a broader screening process, a well-crafted investment advisor RFP will help an investor narrow the field. Before issuing an RFP, the investor works internally to decide if they should release a public RFP (e.g., disseminate broadly) or if they want to reach out to target firms to respond. Overall, creating an effective RFP can be an intensive process that requires considerable thought and planning. This guide from J.P. Morgan describes steps for creating an RFP and selecting the right investment manager.