We are independent & ad-supported. We may earn a commission for purchases made through our links.
Advertiser Disclosure
Our website is an independent, advertising-supported platform. We provide our content free of charge to our readers, and to keep it that way, we rely on revenue generated through advertisements and affiliate partnerships. This means that when you click on certain links on our site and make a purchase, we may earn a commission. Learn more.
How We Make Money
We sustain our operations through affiliate commissions and advertising. If you click on an affiliate link and make a purchase, we may receive a commission from the merchant at no additional cost to you. We also display advertisements on our website, which help generate revenue to support our work and keep our content free for readers. Our editorial team operates independently of our advertising and affiliate partnerships to ensure that our content remains unbiased and focused on providing you with the best information and recommendations based on thorough research and honest evaluations. To remain transparent, we’ve provided a list of our current affiliate partners here.

What Does an Internal Wholesaler Do?

By K. Kinsella
Updated Mar 03, 2024
Our promise to you
Practical Adult Insights is dedicated to creating trustworthy, high-quality content that always prioritizes transparency, integrity, and inclusivity above all else. Our ensure that our content creation and review process includes rigorous fact-checking, evidence-based, and continual updates to ensure accuracy and reliability.

Our Promise to you

Founded in 2002, our company has been a trusted resource for readers seeking informative and engaging content. Our dedication to quality remains unwavering—and will never change. We follow a strict editorial policy, ensuring that our content is authored by highly qualified professionals and edited by subject matter experts. This guarantees that everything we publish is objective, accurate, and trustworthy.

Over the years, we've refined our approach to cover a wide range of topics, providing readers with reliable and practical advice to enhance their knowledge and skills. That's why millions of readers turn to us each year. Join us in celebrating the joy of learning, guided by standards you can trust.

Editorial Standards

At Practical Adult Insights, we are committed to creating content that you can trust. Our editorial process is designed to ensure that every piece of content we publish is accurate, reliable, and informative.

Our team of experienced writers and editors follows a strict set of guidelines to ensure the highest quality content. We conduct thorough research, fact-check all information, and rely on credible sources to back up our claims. Our content is reviewed by subject-matter experts to ensure accuracy and clarity.

We believe in transparency and maintain editorial independence from our advertisers. Our team does not receive direct compensation from advertisers, allowing us to create unbiased content that prioritizes your interests.

Internal wholesalers are sales people who work for insurance companies and investment firms. A person in this position develops strategies to increase sales and actively markets new investment products to outside vendors and partner financial institutions. Large firms often employ several wholesalers, each of whom has ultimate responsibility for maintaining and increasing sales in a particular geographic region.

An internal wholesaler receives information pertaining to newly launched mutual funds, annuity contracts, and other types of securities. The wholesaler has to carefully review the information related to the new securities and develop ways to market the information to sales staff, who deal directly with the public. Wholesalers prepare sales literature that covers pertinent information about new products in terms that sales people can easily relay to prospective customers. Laws require investment representatives to explain the risks involved in investing, and any materials prepared by the wholesaler must comply with laws relating to these disclosures.

Each internal wholesaler works with a team of outside sales representatives who conduct face-to-face meetings with insurance sales persons and brokers. He or she normally schedules a sales representative's meetings and often conducts follow up conference calls to answer any questions that emerge as a result of sales meeting. Brokers and insurance representatives can order investment prospectuses and sales literature through the internal wholesaler and can ask the wholesaler to provide sales ideas or to share information about successful sales strategies used by other representatives.

The internal wholesaler normally reports to a regional sales manager who oversees several sales regions. A wholesaler must compile daily, weekly and monthly sales reports for the regional manager and ensure that sales targets are met or exceeded. Some or all of a wholesaler's salary comes from commissions related to sales, so wholesalers have a strong incentive to perform well. Investment companies normally require wholesalers to consistently hit minimum sales goals and if these goals are not met, a wholesaler can be demoted or terminated from employment. Successful wholesalers normally move into regional sales manager positions.

In order to work as an internal wholesaler, a candidate must have a bachelors degree in finance, accounting, or a related field. Securities laws require anyone involved in the marketing or sale of securities to pass licensing examinations that are conducted by regulatory authorities. Wholesalers must pass these exams and obtain securities licenses before starting work in the job. Licensed securities advisers and wholesalers must attend continuing education classes that include information related to changes in securities laws. These classes are normally conducted at least once a year.

Practical Adult Insights is dedicated to providing accurate and trustworthy information. We carefully select reputable sources and employ a rigorous fact-checking process to maintain the highest standards. To learn more about our commitment to accuracy, read our editorial process.
Discussion Comments
Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.

Practical Adult Insights, in your inbox

Our latest articles, guides, and more, delivered daily.