Internal Wholesaler - Mutual Funds

To begin with, I got an interview by getting to know an external wholesaler in the area where I went to college. He referred me to his manager in the Boston office and things progressed from there. About two weeks after I graduated, I was invited out for an "informational interview" just after the new year. This consisted of 3 half hour interviews with two managers in each meeting. In this interview I had the opportunity to ask about the inside sales process and about what sort of qualities made a successful internal wholesaler. The usual. I was asked to present my resume, but there were no real technical questions asked.

After a couple weeks I was invited back to Boston for a formal interview by HR. Once the weather decided to cooperate, I went in for the second interview. (They got hit with a Nor'Easter and basically all the flights east got canceled. HR contacted me to reschedule, so at least they seem to be humane.)

This time I met with a few new managers, but several of the ones I had met previously. The format was the same, 3 meetings with 2 managers in each. I was asked to walk them through my resume and encouraged to ask questions. In a few of the interviews, I was questioned about sales tactics and also about general capital markets knowledge. I was also asked to discuss selling points of a mutual fund of theirs that I had studied. I gave a couple examples, and was asked to make a case for either encouraging a customer to hold or sell their money in a fund that had performed exceptionally well last year. I would say that was the hardest question because I simply have not had experience with investments outside of the classroom. So, my advice would be to not only know the funds, but also know how to advise for them.

I still have yet to hear either way, but my the realist voice in my head tells me not to be disappointed if I get a buzz letter. If I am not offered a position, I would say that it would have a lot to do with my need to be sponsored to get my Series 6 license. I passed the Series 63 exam, but I feel that this sales department is looking for candidates that already have their licenses. I could be wrong, but that was just the impression I got. At least three of the managers repeated the line, "We rarely sponsor candidates for their Series 6, but it has happened in the past."

Overall, I felt that all of the people I spoke with were very nice and intelligent. I can't say that I have anything negative to say about the company or the people other than to be more open minded about sponsoring candidates for FINRA exams. John Hancock still remains as a company I would work for in a heartbeat if the opportunity arose. I certainly hope that this was helpful.