Do these companies really want my business?

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Oct 15, 2010 6:06 pm

I've just been in phone limbo all day with the wholesalers at various firms and am astounded at how they seem to go out of their way to make any piece of information impossible to attain. What companies do you find easiest to deal with and less beaurocratic?

Oct 16, 2010 9:47 pm

You have to understand that some wholesaler would love to give you the information or lit, however your firm may restrict them from doing so. I am just saying that's one obstacle you will run into from time to time. Some of the big banks restrict a lot of wholesaler activity now. Most small firms will allow most anything, the wires will restrict a few things from time to time. Sometimes the big Mutual Fund companies also have to pay to play. Most smaller MF companies will pay, the larger ones will not. They don't need to pay, they feel they are established enough.

Ask other brokers who they use for Wholesalers, they will direct you to people they like to work with best. You might get the wholesalers add no value line, however they do if you know how to leverage them and they understand your business.

MFS, Franklin Templeton, Blackrock, Principal....Putnam offers good support, but you may have lost faith in the funds.

My two cents..

Oct 17, 2010 7:04 am

You're right on Franklin. Their support is excellent. You can easily get someone right off the bat who will be helpful and if not knowledgable at least willing to find information. My main problems have come from large companies who tend to segment their product lines to an extreme degree and utilize phone trees impossible to navigate. If you don't get "your guy", your chances of getting help from another party are slim. Pru and Hancock are examples of this.