Justifying large Wholesaler salaries/Is wholesaling kind of a scam?

I am currently a college student Majoring in Finance with a Minor in International Business. I have been doing research into what branch of Finance I would like to get into. I am think I am interested in the sales side of the financial service world and I have to admit the lifestyle paired with the potential salary for wholesalers really grabbed my attention. Even before I read this article and after doing research into what Wholesalers actually do some of these questions did a rise.

The article URL is below:
https://mutualfundreform.com/101/

Do you think that these salaries can be justified?

What benefits would you say that wholesalers add to shareholder's?

 

Actively managed mutual funds are a dying industry. A lot of retail money is moving towards ETFs and index-based mutual funds. My guess is that in 10-15 years mutual funds will largely be viewed as antiquated investment vehicles. If you start as a wholesaler at a very large manager you could still do well, but overall a lot of these roles are going to be eliminated.

 
models_and_bottles:

Actively managed mutual funds are a dying industry. A lot of retail money is moving towards ETFs and index-based mutual funds. My guess is that in 10-15 years mutual funds will largely be viewed as antiquated investment vehicles. If you start as a wholesaler at a very large manager you could still do well, but overall a lot of these roles are going to be eliminated.

ETF shops have wholesalers too. I would argue that the salaries of good wholesalers can be justified. They drive sales, they drive the increase in funds AUM and through that, they drive more money in the door for those firms.

 
ETF shops have wholesalers too. I would argue that the salaries of good wholesalers can be justified. They drive sales, they drive the increase in funds AUM and through that, they drive more money in the door for those firms.

Fair comment and I think wholesalers absolutely create value for ETF products (more assets = more liquidity = more investors, on and on). The same cannot necessarily be said about mutual funds.

 
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