Unlocking Real Value Blog

How Vital Are Wholesaler Credentials?

Published in Ignites – An Information Service of Money-Media, a Financial Times Company
Written by Andy Klausner, CIMA, CIS, the founder of AK Advisory Partners, a strategic consultancy serving the wealth management industry.

The more impressive the credentials wholesalers possess, the greater the chance that they will be able to meet with and form a meaningful relationship with top producers. This is especially the case in today’s tumultuous times, as producers have little time to waste. The key for any wholesaler is establishing credibility with the branch office’s gatekeeper and the top producers. As the number of wholesalers has increased over the past decade, it’s not a given that every wholesaler will be allowed into branches.

The best way to remain on the list of people allowed to visit the branch office is to develop these key relationships. And in that first meeting, the firm you work for is as important as your sales pitch in communicating the value that you will be able to add on an ongoing basis. Especially with larger producers, those with clients with varied and complicated needs, a wholesaler’s ability to “talk the talk” and “walk the walk” is very important. So whether it’s an advanced educational degree such as an MBA or certifications such as the CFP, the more the wholesaler can exhibit a firm industry knowledge base, the easier establishing credibility will be.

Also, remember that the first question a large producer will ask wholesalers is if they have ever been in production. For those that have not, impressive credentials are the next best things to highlight.

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