Internal Wholesaler exit opportunities

value15's picture
Rank: Senior Chimp | 17

Does anyone have any knowledge or experience as an internal wholesaler? It seems easy to get into without much relative work experience and I'm doing well in the current interview process I'm in. I planned on starting here to get experience while I work on my CFA, I'm taking level 1 this June. I have no desire to be an external or a financial advisor. Does anyone know how this work experience fares when applying into IB and equity research jobs? I feel that this might go well into portfolio management. Looking forward to some opinions!

Comments (11)

Jul 31, 2016

If you have no desire to be an external or FA, you've nixed the two main exit opps. I only know of one wholesaler who eventually made the jump to PM. Very very rare.

Aug 1, 2016

Former Internal Wholesaler here. I worked for a year at a boutique Mutual Fund shop and then made the transition to a specialized Private Equity firm as an Associate on the M&A team. Yes, it's possible as long as you work hard and keep your long term vision in mind.

WholesalingLife is right--the two main exit opportunities are either an External or an FA, but, it is possible to break into other areas (though it may not be easy). One internal friend of mine just passed his CFA level II, and is in a key accounts role (he was told by the Investment Management firm he works for that if he passes level III, he can take on an equity research role).

I also know of an Internal from my former firm that worked for 2-3 years and went on to Columbia Business School.

The key thing you need to keep in mind is that you can leverage your business development experience that you gain to break into other areas. That's exactly what I did to transition into PE.

Also, leverage the fact that being an Internal (in most cases) is a straight 9-5 job. You'll have adequate free time to study for and pass a few levels of the CFA.

Let me know if you have any other questions/comments.

Oct 30, 2017

How in the hell did you accomplish that?

Currently an Internal

Oct 30, 2017

There's not that much info on the wholesaling industry here but from my experience - it's a sinking ship with the impending regulation (at least at the firm I'm working in).

I also can't see myself being an external. So any thoughts on transitioning to other aspects of the finance world? I'm also open to different industries a (like tech/other Fortune 500 careers).

Just want to make a move that makes sense for my skill set and had high compensation.

    • 1
Oct 30, 2017

Why do you see the internal wholesaling industry as a sinking ship? Will the burden of setting up appointments, following up with FAs, etc. just fall on the external then? I am not too familiar with the external/ internal wholesale space but am definitely interested in learning more. Thanks.

Aug 9, 2019