Internal Wholesaler - Is this position worth it?

POSITION Internal Wholesaler I RESPONSIBILITIES The internal wholesaler position is a sales professional with strong relationship building skills, product knowledge and sales experience. The internal wholesaler is part of a team which includes an external wholesaler (Region Vice President) and whose primary responsibility is to increase Mutual Funds or Annuity product sales. The primary activities of an internal wholesaler include: proactive outbound sales calls, inbound sales calls, large and small group sales presentations all of which will result in increased sales in their respective territory. REQUIRED QUALIFICATIONS -Proven ability to build strong relationships -Knowledge of Mutual Funds or Annuity products - Sales experience - 3-5 years experience in financial services industry -Excellent communication and influencing skills -Effective presentation skills -Knowledge of USAG field force preferred -High energy -Series 7 license required SALARY $45,000 base plus commission First year expected mid $70’s Is this even CFA qualifying work experience?

I always ignore job postings that give an expected first year comp.

I copied this directly from the CFAI website - it appears that the main element is being involved in the investment decision making process. Given that your description mentions doing presentations, etc it could be argued that you are involved. However, you have no authority or input to that process (you dont get a “vote”). So, on that side of it, doesnt seem to qualify. Here’s the link to the experience page – good luck << Acceptable professional work experience as it relates to applicants seeking to become charterholder members, or regular members, includes activities that consist to a majority extent of: (i) evaluating or applying financial, economic, and/or statistical data as part of the investment decision-making process involving securities or similar investments, which includes, but is not limited to, publicly traded and privately placed stocks, bonds, and mortgages and their derivatives; commodity-based derivatives and mutual funds; and other investment assets, such as real estate and commodities, if these other investment assets are held as part of a diversified, securities-oriented investment portfolio; or (ii) supervising, directly or indirectly, persons who practice such activities; or (iii) teaching such activities. >>

This looks like a crappy sales job that doesn’t qualify for CFA required experience. It was pitched to my by a agency.

External wholesalers make a killing. If you like sales then its probably a good start. I dont see how it wouldnt count a work experience.

commstudent Wrote: ------------------------------------------------------- > External wholesalers make a killing. If you like > sales then its probably a good start. I dont see > how it wouldnt count a work experience. Yes External Wholesalers do make a killing but I believe this job posting is for an Internal Position. Internal Wholesalers typically don’t make jack and it is a hard road to get from Internal Wholesaler to External Wholesaler. You pretty much have to wait for someone to die and then you have to be willing to immediately pick up and move to said dead persons territory if you want the job.

I was indecisive this morning. After reading these posts I will not be pursuing this job. I’m pretty sure I know what company this is and I really don’t want to be a cheerleader for mutual funds and annuities.

If it is a MN company I might have a clue what it is and I have a few former coworkers that are in similar roles there. What I can tell you is that if you like calling people and pitching whatever product the company tells you to, have someone asking you how many dials, conversations, and average talk time is…then you might really like the job. If you want to actually do something in the investment world however, you might wanna see the position for what it is, sales.

I had a feeling it was that company. There is a quota for number of dials, talk-to’s, sets/appointments, and sales. Agency contacted me to see if I would take a job such as this. I was leaning on No, but wanted a second set of eyes to critique what it was about.


Of course this is CFA qualifying experience. Selling mutual funds is obviously part of the investment process. Whenever you are selling investments that would qualify.