Quick Q- Wholesaler label for WSO purposes?
RMA (Internal Wholesaler) at an investment firm/fund family
Asset Management/Investment Advisor/Sales & Trading?
I'm leaning AM but I'm not really 100%. Since this is surely the most important thing in the world right now, please advise. Thanks!
Wholesaler has to be the easiest job among those listed, but it's the investing equivalent of a tin cup full of pencils on a street corner. What I mean by that is that you'll be selling to salesmen, and that often entails debasing your sense of self-worth. I can remember wholesaler after wholesaler (especially those Nuveen pricks) coming into our office, buying a shitload of pizzas, and then holding us hostage to their pitch and then going desk to desk begging us to buy some of their shit. And this was a couple times a week.
Occasionally a fund family would front the money for some "after hours" entertainment (booze and strippers, typically), but that wasn't the norm and you had to place a lot of business with them. We had this one wholesaler from John Hancock who knew the deal and would take care of us when he blew into town, but we placed millions into their Special Equities fund back when DiCarlo was still running the show.
I always felt kinda bad for those guys, because I knew what lowlifes we were, and these guys had to suck our kneecaps to eke out their existence. But it's probably no worse or no more degrading than any other job on the Street.
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