What is a Wholesaler?
Charles Samuel, CLU, ChFC
A financial services industry 'wholesaler' is an intermediary for--or a representative of--an organization that develops and provides packaged financial strategies & solutions (e.g. - mutual funds, REITs, annuities, ETFs, 401(K) Plans, Life Insurance, etc.) for use by investors and consumers.
A wholesaler's 'client' is the final seller of solutions and strategies to investors and consumers, be they institutional (e.g. - family offices, pension plans, municipalities, etc.) or retail (e.g. - financial advisors, investment advisor representatives, insurance agents, etc.).
Actual titles for wholesalers will vary by firm (e.g. - associate, consultant, vice president, director, strategist, specialist, etc.).
Generally, the wholesaling career path begins with the Internal Wholesaler Trainee or Inbound Sales Associate role (i.e. - Entry Level Sales).
Entry level sales professionals graduate to the Internal Wholesaler role (i.e. - Inside Sales).
Inside sales professionals graduate to the Hybrid Wholesaler role (i.e. - Hybrid Sales / ~50% Travel).
Hybrid sales professionals graduate to the External Wholesaler role (i.e. - Outside Sales / 100% Travel).
The transition from entry level to outside sales may take between 2-10 years depending on myriad factors. The primary factor is YOUR drive and performance.