Fundsters who want to get on Sallie Krawcheck's good side would do well to scrub the term "retail distribution" from their vocabulary. In her appearance Wednesday afternoon at the ICI General Membership Meeting in Washington, D.C., Bank of America's head of global wealth management and investment management (which includes the Merrill Lynch wirehouse) issued a request to the audience.

"Can we please get rid of the term 'retail distribution when talking about the wealth management business?" Krawcheck said. "Honestly, it's a term that diminishes what we do."

"I adore all of you," Krawcheck told the 1,000-plus fundsters in the audience. "I do. I adore most of you," she added, drawing laughter from the crowd. "But the business that I have responsibility for does not exist to be your distribution channel. It brings up images to me of us working for you, rather than for our clients."

Krawcheck said she prefers the term "private client solutions."

Another pet peeve, she said, is the term "cross-selling."

During her talk this afternoon, Krawcheck also tackled the seven myths of wealth management. Click here to view the story.  

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