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Honesty and forthrightness are truly the best policies, especially for money managers pitching business to Quan-Vest Consultants, a Taft-Hartley consultant in Manhasset, N.Y.
Mark Lotruglio
Honesty and forthrightness are truly the best policies, especially for money managers pitching business to Quan-Vest Consultants, a Taft-Hartley consultant in Manhasset, N.Y. "Tell us what is going on and never, ever let us be surprised in front of a client," said Mark Lotruglio, a senior consultant at the firm. He added, however, that while he is strict about demanding honesty, he is also hesitant to replace a manager. "We have no problem having a manager on an account [for] 20-30 years," he said. "Every manager will go through a period of underperformance, [but] to get on the merry-go-round of hiring and firing a manager is detrimental to the client." Quan-Vest maintains its own database, and Lotruglio recommends that managers interested in getting into it contact him directly. "We tend to watch managers for a period of time before putting them into a client search," he said. "But if it is manager that has an [investment] process that is very interesting to us, we will do a tremendous amount of work [with them] to understand that process."
Family Business
Quan-Vest was founded in 1981 by Lotruglio's father, Anthony (Tony) Lotruglio. The elder...