What does an Internal Wholesaler do?
Internal wholesalers perform tasks designed to develop and grow business relationships with the goal of expanding markets and increasing sales. They are responsible for helping to develop or expand a specific territory, group, or region and are generally employed in the investment or insurance industries. They often work in conjunction with an external consultant or outside vendors. They perform market research and study the territory, identifying opportunities, and discovering new targets. They contact leads and makes sales pitches. They may be expected to meet pre-determined sales quotas.
Internal wholesalers typically have a bachelor’s degree in a business field, and a background in the insurance or financial services industry. These roles require a number of Financial Industry Regulatory Authority (FINRA) licenses, along with other certifications and clearances. Must be comfortable working in a high-pressure environment with sales quotas.
- Grow and manage a consistent and continuous new business pipeline through relationship build, prospecting tools and research.
- Establish and manage strong relationships with existing strategic accounts with large growth potential.
- Partner with the marketing team to develop customer-specific sales presentations, respond to requests for proposals (RFPs) and work cross functionally to support strategic new business opportunities, including account-specific launch plans.
- Maintain detailed files and communication records for each account.
- Develop creative account specific strategies in collaboration with other sales managers to deliver growth across channels.
- Ensure ongoing communication about account activity with customer service, marketing, and supply chain teams.
- Stay abreast of competitive climate and industry trends through applicable trade organizations and industry journals.
- Bachelor's Degree in business.
- Can demonstrate sound product knowledge with confidence and collaborate with other teams to negotiate deals and terms.
- Pays strict attention to detail and is a consummate professional with a positive attitude, solid work ethic, and demonstrable time management skills.
- Experienced and compiling information and creating spreadsheets and decks, creating benchmarks and strengthening them, and making proper selections when appropriate.
- Has sound of business acumen.
- Demonstrable critical thinking skills and collaborative nature.
How much does an Internal Wholesaler make near United States?
Internal Wholesaler Career Path
Learn how to become an Internal Wholesaler, what skills and education you need to succeed, and what level of pay to expect at each step on your career path.
Years of Experience Distribution
Internal Wholesaler Insights
“Had a lot of fun getting to know some of the people and everyone is really nice.”
“Patrick Lam is a great boss and really goes out of his way to help every individual be the best version of themselves.”
“Little room for career development and growth if you are a newcomer to the industry.”
“Good good good good good”
“Will give you one of the most solid foundations to start your career you could ask for”
“Management needs better work and guidance”
“If you like to sell via call centers it is an nice place to work.”
“Everyone at Billini has a really strong 'can do' attitude so you feel really supported by each department.”
Internal Wholesaler Interviews
Frequently asked questions about the roles and responsibilities of an Internal Wholesaler
- Financial Advisor
- Finance Manager
- Investment Officer
- Financial Consultant
Get anonymous career insights from your peers
How much of a pay cut would you entertain to stay WFH, or work at an office 15 minutes away from your house? I moved companies during COVID, was told verbally my position would be remote, now starting to get pressure to go in the office and have a feeling it’s going to be mandatory multiple days a week, it’s a 50 minute commute. My prior company wants me back, is local and I really enjoyed working there. I don’t know how much they’d offer but I know they can’t match my bonus.