A good wholesaler has the personality, the character and the experience to profile their customers astutely in order to gain their trust and commitment. They know how to work as a true, comprehensive consultant to each of their clients. But even seasoned wholesalers can learn a new technique or two.
SEI Investments ran a two-day training class earlier this month to teach best practices to wholesalers, including how to compete with wholesalers whose fund complexes have larger sales force, marketing budgets and product offerings.
Providing individualized service to clients was the focus of the first day, while on the second day, presenters concentrated on presentation skills and selling a firms unique offerings.
"[Financial] advisers today are very time-challenged," said Ross Ellis, head of SEIs global funds services product group. "Consequently, it is critical for each wholesaler to deliver their value proposition in a concise and powerful message."
"The days of polo shirts and golf balls are over," said John Lindsey, national sales director for the Japan Fund, who attended the training session. "Our clients need true partners who will help them build their business."