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Internal/External Wholesaling

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Jan 21, 2014 11:08 pm

I am a new internal wholesaler (3 months) and I am wondering how you know if you are going to be successful in this field. I am 25 years old and I am studying for my 7, 63, and life and health. I should have it all before 26. However, what is the likelihood you do not succeed as an external? How much do they typically make per year? I am driven and ambitious but there is still always a question of what if this isn't the right career choice. What can an internal wholesaling position lead to? I am wondering the obvious questions that I don't want to ask other professionals in my field about, how much do you make? What's the growth potential? What's the success rate? How do you know if your good or not?


Jan 22, 2014 7:28 pm

Ask the external that you work for. Seems he or she would have the best answers for you, much better than strangers on an internet message board.

Earning is unlimited to a point in external wholesaling. Obviously it all depends on if the advisors are using your products, how well known your fund/insurance/etc. is…and how likable you are.

I have mutual funds that are decent that I would never consider using just because of the external wholesaler. I can find my client the same style from someone that I would rather do business with…I also have other wholesalers that are fantastic people, great salesmen, genuinly care about my success, etc…but the product they’re representing is junk. Unfortunate, but I’m not going to put my clients in a shit product because I like the wholesaler.