Investment management marketers learned, among other things, about consultants' pet peeves during a session at the 23rd annual conference of the Association of Investment Management and Sales Executives in Orlando, Fla., this month.
"Don't say someone wasn't important when he quits. We can look at an RFP and see this guy was listed as one of the top three at the firm," advised Janet Becker-Wold, who works in Callan Associates' Denver office.
"That's when a star system becomes collegial," joked Richard D. Charlton, president of New England Pension Consultants, Cambridge, Mass.
"And don't say, `We're going to close at $2 billion' and then come back in with $3.5 billion under management," Ms. Becker-Wold said.
No vote was taken, but the biggest mistake consultants revealed must have been the one made by the manager trying to win business from an American Cancer Society unit. The problem: The manager had tobacco stocks in his portfolio.