Best firms to be a Mutual Fund/SMA wholesaler
Does anyone know of the top firms if you want to be a Wholesaler? Internal or External…which ones have the best mutual funds, good place to work, etc?
My Franklin guys are great. Everyone has opinions of wholesalers. I believe they are good, and most do know the mrkts and their funds. I would try to go with a bigger shop that can withstand these times.
My Hartford Leaders wholesaler was laid off about two weeks ago. He was very good and represented a very strong product line. Might be a tough nut to crack in this environment. Good luck, though!
For Mutual Funds, look at Eaton Vance, MFS and Oppenheimer. Maybe Thornburg too. For SMAs....get out of the business, they're awful.
Dont mean to discourage you, but
What makes you think that these companies are hiring wholesalers right now. They are all consolidating territories, and firing wholesalers.
i cant imagine any fund company is hiring wholesalers right now either, unless you already got a name and they want you.
you could try UITs, First Trust, Claymore, or an ETF company(do they have wholesalers)
I would suggest getting a job at American Funds. Pay is huge, and you don’t have to do any work, but people still put money in your funds.Bad news is that you have to wait for someone to die to get an external position.
I just hung up the phone with a wholesaler recruiter to whom I was giving a recommendation for my friend who was laid off by Hartford. She reinforced my guess that now is an Extremely tough time to get any wholesaler position. She went on to say that she expects the premier shops (i.e. American Funds) to lay off, rather than add, wholesalers. Good luck getting your foot in the door, but it may be at a second or third-choice firm.