Exhibit (j)(2)


December 21, 2000


Pilgrim Advisory Funds, Inc.
7337 East Doubletree Ranch Road
Scottsdale, Arizona  85258-2034

Re:  Pilgrim Advisory Funds, Inc.
     (File Nos. 33-91706 and 811-09040)


Dear Sirs:

We hereby consent to all references to our firm in Post-Effective  Amendment No.
15 to the Registration  Statement of Pilgrim Advisory Funds, Inc. In giving such
consent,  however,  we do not admit that we are within the  category  of persons
whose  consent  is  required  by  Section 7 of the  Securities  Act of 1933,  as
amended, and the rules and regulations thereunder.

Very truly yours,

/s/ Dechert