Mutual Fund Wholesalers
A mutual fund is an investment strategy that allows investors to purchase a collection of stocks, bonds, or other securities. Funds are sold to the public through the sale of shares representing an ownership interest. Wholesalers market mutual funds to registered investment advisors, financial planners, family offices, broker/dealers, consultants, insurance companies, and other institutional clients—who then sell them to the public.
Minimum Education Level
Compensation structure for wholesalers varies by employer. Some receive a base salary, plus commissions earned on sales; a salary plus an annual performance bonus; or an advance against future commissions rather than a salary.
External mutual fund wholesalers earned average annual salaries of $75,139 in 2020, according to PayScale.com. Earnings ranged from less than $55,000 to $186,000 o...
Wholesalers work in typical office settings. Their hours and the amount of required travel vary by position. Internal wholesalers work a standard 40-hour week and largely stay in the office, making sales calls, developing sales and marketing strategies, and following up on customer inquiries via the phone, videoconferencing, or e-mail. External wholesalers work away from the office about 50 to ...
Job opportunities for sales managers (a related career) who are employed in securities, commodity contracts, and other financial investments and related activities are expected to grow by 4 percent through 2028, according to the U.S. Department of Labor, or about as fast as the average for all careers. Opportunities for mutual fund wholesalers will be best at the largest funds. “Once a primary ...