Managing Client Reference Permission in an Asset Management RFP

A request for client references is an invitation to demonstrate trust, so it must be handled with the same care the prospect expects from a manager. A suitable client cannot be named or contacted simply because the match appears strong. The RFP lead needs the reference criteria and documented permission for that particular request.

Ask what governance model, asset class, service experience, and timing the prospect wants represented. Confirm whether they need names in the written submission or references only at finalist stage. Then route potential references through the owner of client relations, who can assess permission, availability, and any limits on what may be shared.

A consultant says, “Please send two committee contacts today.” The RFP lead responds, “I can identify potential references through our process for client relations, but I cannot share a client contact without permission for this search. Could you confirm the client profile and when you would use the references? I will ask the appropriate owner whether we can meet that request and update you by the agreed date.” The consultant accepts the process because the next action is explicit.

Practice with an especially attractive reference who has not consented. The team should avoid saying the client is available, implying endorsement, or exposing contact information. Review the tracker for the prospect’s criteria, permission status, owner of client relations, and the exact update date promised to the prospect.

If permission is not granted, offer only alternatives approved for the search. A confidential client relationship should never become an implicit sales asset because a finalist timetable or submission deadline feels urgent.