An individual who helps wealthy institutions or individuals find an appropriate investment manager. The investment consultant sends out a request for proposal (RFP) to investment managers and then helps the client narrow down the list of managers. The investment consultant helps the client interview the managers that most closely fit the clientÂ’s needs. Investment consultants also evaluate the performance of the investment management firm after it has been chosen. During the last decade, the role of investment consultants has grown as the number and complexity of financial instruments has grown.