External Wholesaler Job Description
External wholesaler
provides advisors technical information, including a strong knowledge of the competitive landscape, financial markets and industry related topics.
External Wholesaler Duties & Responsibilities
To write an effective external wholesaler job description, begin by listing detailed duties, responsibilities and expectations. We have included external wholesaler job description templates that you can modify and use.
Sample responsibilities for this position include:
Develop and maintain working relationships with Financial Advisors
Assist existing sales team members in developing new business within the Broker/Dealer, Independent and RIA communities
Coordinate all aspects of territory management with Regional Sales Directors to develop new and maintain existing business
Create and maintain strong relationships with key advisors at a national level through call campaigns and other forms of communication
Work with RVP to create and implement new sales and marketing initiatives including presentations, conference calls, mailings
Perform competitive analysis and maintain advanced knowledge of Managed Account Industry
Work with National Director of Sales to develop and maintain relationships with key financial advisors, existing ZCM producers and centers of influence within target market
Build calling strategy and focused travel rotation to employ circuit-like coverage within coverage area
Attend required industry conferences and events
Maintain expert knowledge of relevant industry research, trends and flows
External Wholesaler Qualifications
Qualifications for a job description may include education, certification, and experience.
Education for External Wholesaler
Typically a job would require a certain level of education.
Employers hiring for the external wholesaler job most commonly would prefer for their future employee to have a relevant degree such as Bachelor's and Collage Degree in Finance, Business, Financial Services, Education, Marketing, Economics, Communication, Management, Fashion, MBA
Skills for External Wholesaler
Desired skills for external wholesaler include:
Financial markets with experience in a financial services organization
Competitive landscape
Financial markets and industry related topics
Life Insurance business
Understanding of the sales process and the dynamics of selling life products
Advisor community and industry
Best practices and the competition to improve processes and procedures
Financial Services industry and capital markets
Sales and marketing principles and practices
Competitive positioning
Desired experience for external wholesaler includes:
Update the firm’s internally managed business contact database
Coordinates appointments with advisors and offices at least six weeks in advance
Prepares and submits an annual business plan, and formally reviews the plan versus goals at least quarterly with Division Vice President
Identifies client needs and provides investment and business solutions to the financial advisor
Keeps abreast of industry/market trends and developments and maintains sound working knowledge of products and services
Maintain direct, on-going coverage responsibility of all field wholesalers of VA clients located within the wholesaler’s territory
External Wholesaler Examples
1
External Wholesaler Job Description
Job Description Example
Our company is looking to fill the role of external wholesaler. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for external wholesaler
- Educates Advisors on distribution of comprehensive, or total solutions within the consultative sales process model
- Responsible for the adoption of integrated approach through Consultative Sales Process model
- Partners with Individual Advisory Services Sales Coach team addressing Advisor skill set depth and readiness to execute within an integrated advice model
- Collaborates with Individual Advisory Services (IAS) Directors ensuring consistent messaging, and implementation of integrated solutions
- Builds and maintains close relationships with Advisory and CRC teams
- Responsible for participation in Advisory business planning and comprehensive communication in assigned Advisory territory
- Travels within territory to provide coaching and guidance to meet scorecard metrics
- Responsible for maintaining pipeline, activities through CRM
- Delivers integrated solutions strategies in conjunction with appropriate education addressing implementation resources available to the field
- Advocates and is responsible for the client experience across solutions
Qualifications for external wholesaler
- Forge strong partnerships with Divisional Sales Management to design coverage strategy within divisions and regions
- Deliver effective presentations to audiences covering topics such as investment updates, practice management, sales ideas, and economic and financial markets insights
- Drive sales into GSAM investment products
- Conduct consistent dialogue with VA providers’ internal sales desk
- Maintain detailed knowledge of dynamics of VA industry, including clients’ product offerings
- Develop deep understanding of all VA clients’ business goals and priorities by partnering with the GSAM Variable Annuity Key Accounts Team
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External Wholesaler Job Description
Job Description Example
Our growing company is looking to fill the role of external wholesaler. If you are looking for an exciting place to work, please take a look at the list of qualifications below.
Responsibilities for external wholesaler
- Responsible for increasing integrated solution adoption, per scorecard metrics, among Advisors in assigned territory
- Provides key input and feedback towards product development and distribution
- Identifies productivity increases, best practices and shares with team to scale successes
- Corresponds with Endowments and Foundations Directors on institutional opportunities and charitable planning strategies
- Participates as keynote speaker at client seminars
- Attends client meetings with Financial Advisors to deliver expert level knowledge on solutions and the benefits of integration
- Responsible for building new and maintaining existing relationships with financial advisors in national broker dealers (BDs), regional BDs and independent BDs to increase revenue
- Collaborate with financial advisors to include annuities in financial plan for clients
- Provide competitive intelligence to sales and product management on a regular basis, reporting and managing contacts (face-to-face)
- Responsible for building new and maintaining existing relationships with financial advisors in national broker dealers (BDs), regional BDs and independent BDs to increase revenue from life insurance sales
Qualifications for external wholesaler
- Work collaboratively with colleagues including internal wholesaler, other externals and marketing team
- Effectively execute on desired client strategy, including meeting targets and activity requirements
- Actively contribute to internal discussions around marketing and other resourcing needs by representing field experience
- Represent the VA Team at client sales meetings and at key industry conferences
- Effectively manage a large geographical territory
- Ability to deliver a broad range of value-added presentations and facilitate workshops
3
External Wholesaler Job Description
Job Description Example
Our company is looking to fill the role of external wholesaler. We appreciate you taking the time to review the list of qualifications and to apply for the position. If you don’t fill all of the qualifications, you may still be considered depending on your level of experience.
Responsibilities for external wholesaler
- Collaborate with financial advisors to include life insurance in financial plan for clients
- Works closely with Managing Director to develop and execute business plans to maximize territory sales
- Demonstrates strong sales skills and keeps abreast of industry trends within the Defined Contribution marketplace
- Builds sales by identifying and building relationships with retirement-focused advisors
- Regularly conducts sales meetings with financial intermediaries to promote MFS products and services
- Sells products and services to focus firms and segmented advisors following strategy developed by Department Head, National Sales Director and Managing Director
- Partners with MFS external retail wholesalers to develop and close DCI pipeline leads
- Delivers MFS' practice management and business building resources on a regular basis
- Completes administrative duties consistently and submits appointment calendar and expense reports on a timely basis
- Identifies and coordinates the clients' training needs
Qualifications for external wholesaler
- Extensive travel required, preferably based in Texas
- Wholesaling, sales development or key accounts experience in the variable annuity marketplace strongly preferred
- Applicable state insurance life and health licensing is required
- Completion of applicable training for appointment by proprietary and non-proprietary solution providers
- Excellent interpersonal skills and client face-to-face relationship building skills
- The candidate must be motivated with strong territory management and selling skills, and the ability to drive to his/her objectives relatively autonomously
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External Wholesaler Job Description
Job Description Example
Our growing company is looking for an external wholesaler. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for external wholesaler
- Works closely with Managing Director to develop appropriate business plan to maximize territorial sales
- Conduct sales meetings with financial intermediaries to promote MFS portfolios within variable annuity and defined contribution products
- Builds strong sales skills and keeps abreast of industry trends through interaction with corporate team, training, continuing education requirements, and sales meetings
- Provides top quality service to accounts to ensure growth and retention of asset and clients
- Builds sales by identifying and prospecting new producers
- Coordinates sales efforts with home office sales representatives to execute territorial business plans with MFS field partners
- Attends conferences as needed and communicates information back to home office personnel
- Increases penetration in territory by optimizing and growing relationships within existing firms/institutions
- Utilizes expense budgets to set limits and maximize sales opportunities within his/her assigned territory
- Conducts sales meetings daily with financial intermediaries in branch offices to promote MFS products and services
Qualifications for external wholesaler
- The candidate should have 5-7 years experience in the Investments industry, and 3-5 years of external wholesaling experience
- Minimum two years of direct field sales or related experience required, five years preferred
- Position requires FINRA series 6 and 63 registrations or FINRA series 7 and 63 registrations (MIL) in accordance with MFS’ licensing policy
- 3-5+ of experience years in Financial Services Sales that directly aligns with the specific responsibilities for this position
- Must hold life insurance licenses
- 5-10 years of related work experience in the insurance field
5
External Wholesaler Job Description
Job Description Example
Our company is looking to fill the role of external wholesaler. Thank you in advance for taking a look at the list of responsibilities and qualifications. We look forward to reviewing your resume.
Responsibilities for external wholesaler
- Visits and sells products and services to focus firms following strategy developed by Department Head, Managing Director and Sr
- Complies with all internal and external rules, policies and procedures, including distribution of approved literature to financial intermediaries
- Maintains and updates appointment meeting calendar through appropriate Client Relationship Management system, and ensures adherence of timely submission of expense reports
- External sales role calling on focused list of wirehouse firms in the Minnesota, Iowa, Western Wisconsin territory
- Commit to extensive travel within territory - (The position would be located in the Phoenix area, and includes coverage of Arizona, New Mexico, and parts of West Texas.)
- Develop and strengthen a business plan to maximize market share, assets and profitability for assigned territory
- Manage travel and entertainment budget to assigned amount
- Work with sales team to develop sales of mutual funds, deferred annuities, and immediate annuities in existing territory
- Travel approximately 50% of the time in assigned territory
- External sales role calling on focused list of wirehouse firms in the Ohio/Kentucky territory
Qualifications for external wholesaler
- Current Series 6, 63, and Life and Health Insurance License required
- Detailed understanding of the insurance industry and market, our products and those of our competitors highly desired
- Ability to effectively convey our priorities and creatively wholesale our products
- Takes initiative and good problem solver
- Work with Management and other Product areas of the Company
- Must live in assigned territory - will cover multiple states in the West Coast