What does an External Wholesaler do?
Published 4 min read
An external wholesaler is a sales professional who works with financial advisors to help them grow their businesses. External wholesalers are responsible for developing relationships with new and existing clients, providing product and market information, and supporting the advisor in the sales process.
External Wholesaler job duties include:
- Contacting potential customers and building relationships
- Developing and delivering sales presentations
- Identifying customer needs and matching them with appropriate products and services
- Staying up-to-date on product features, benefits, pricing, and availability
- Negotiating terms of sales agreements
- Coordinating delivery of products and services
- Building and maintaining a strong knowledge base of the company’s products and services
- Providing input on marketing campaigns and strategies
- Attending trade shows and conventions
External Wholesaler Job Requirements
An external wholesaler is responsible for generating new sales opportunities and developing relationships with financial advisors. The job requires a bachelor's degree and at least two years of sales experience. External wholesalers must be able to obtain a Series 7 license within six months of being hired.
External Wholesaler Skills
- Motivated
- Driven
- Persistent
- Organized
- Good communication skills
- Good people skills
- Ability to work independently
- Self-starter
- Ability to learn quickly
- Time management skills
- Multitasker
Related: Top External Wholesaler Skills: Definition and Examples
How to become an External Wholesaler
An external wholesaler is a professional who is responsible for marketing and selling products or services to customers on behalf of a company. As an external wholesaler, you will need to be able to identify potential customers, build relationships with them, and ultimately close sales. If you are interested in becoming an external wholesaler, here are a few tips to get you started:
1. Develop your marketing skills. As an external wholesaler, you will be responsible for marketing the products or services you are selling. This means that you will need to be able to create compelling sales materials, make effective presentations, and use various digital marketing tools to reach your target market.
2. Build your network. External wholesalers need to have a strong network of contacts in order to be successful. You should focus on building relationships with potential customers, as well as with other professionals in your industry. Attend industry events, join relevant online communities, and make sure to keep your LinkedIn profile up-to-date.
3. Stay organized and efficient. External wholesalers need to be very organized in order to manage their time effectively and maximize their sales productivity. Make sure to keep track of your leads, appointments, and follow-ups using a CRM system or similar tool. Additionally, always be prepared for your sales calls and meetings by having the necessary materials on hand.
4. Be persistent and resilient. Sales can be a tough business, so it’s important that external wholesalers are persistent and resilient when pursuing new business opportunities. Don’t give up after one rejection – keep trying and eventually you will find success.
If you are passionate about sales and marketing and have the drive to succeed, then a career as an external wholesaler may be the perfect fit for you. By following the tips above, you can start down the path towards becoming a successful external wholesaler.
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