Internal Wholesalers Who Want to Become External Wholesalers: You Have to Get Your Timecard Stamped

This question, or one quite like it, has been asked for as long as internal wholesalers have aspired to become externals.

And it’s one we received from an existing internal on an annuity desk:

I have high aspirations to get out into the field. The industry is always looking for experienced wholesalers now. What is the best way to get out into the field?

No matter your firm, your product or your channel, the same classic catch-22 has always been at work.

The hiring manager wants an experienced external wholesaler (ideally one in the territory and one with contacts) and you can’t become experienced unless someone gives you a shot.

Here’s our advice.

Get your time card stamped.

You live in NYC and an external opening comes up in Portland?

Be willing to move to get it stamped.

You work on the desk serving wires for an investment management firm, and see an opening for an external position wholesaling fixed annuities only to licensed platform reps in banks?

Go interview for the job and do your damnedest to get hired to get it stamped.

As a hiring manager, my philosophy was always the same – if you are an internal wholesaler in Chicago (or NY or Denver), and you are waiting for a position as an external wholesaler in Chicago (or NY or Denver), you are going to have one long, likely fruitless, wait.

On the other hand, if you are an internal on my desk and you are ready, willing and able to pack your possessions and move to WHEREVER THE OPENING IS then I’m more likely to give you a shot.

Will your willingness to relocate to the ends of the earth be enough to get the golden ring?

No.

That’s why we have: 12 Must Read Posts For Internal Wholesalers