Read books such as Mutual Funds For Dummies (For Dummies, 2018), by Eric Tyson, to obtain a good introduction to the types of funds, investment strategies, and related topics. As a high school student, take as many marketing, sales, business, and economics classes as possible. Join a high school or college chapter of DECA (https://www.deca.org), a nonprofit organization that hosts competitions, leadership training programs, and educational conferences for students who are interested in careers in marketing, finance, management, and hospitality. If you’re in college, consider attending the American Marketing Association (AMA) International Collegiate Conference to participate in professional development opportunities, networking events, and competitions. Visit https://www.ama.org/events/conference/2020-ama-international-collegiate-conference for more information. Information interviews with wholesalers and other marketing and advertising professionals are another good way to learn more about the field and make industry contacts.
Wholesalers play an important role in marketing the nearly 9,600 mutual funds to brokerage firms, financial advisors, and other entities that sell funds. Their duties vary based on the size of their employer, its products, and other factors. They also have different job titles based on their duties. Internal wholesalers spend the majority of their work days “inside” at mutual fund companies. Their responsibilities include:
External wholesalers spend 50 to 60 percent of their work days on the road, meeting with investment advisors and other prospective clients. Their duties include:
Both internal and external wholesalers: