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Mutual Fund Wholesalers

Outlook

Job opportunities for sales managers (a related career) who are employed in securities, commodity contracts, and other financial investments and related activities are expected to grow by 17 percent from 2014 to 2024, according to the U.S. Department of Labor, or much faster than the average for all careers. Opportunities should not as strong for mutual fund wholesalers—except for those at the largest funds. “Once a primary source of fund information and sales ideas, the profession has become increasingly supplanted by the Internet,” according to Advisor Perspectives, which provides data analysis and publications for registered investment advisors, wealth managers, and financial advisors. A reader survey conducted by the organization in December 2015 found that only 39 percent of advisors relied on wholesalers as their primary source of information about funds. The survey found that 63 percent of advisors used third-party research sites such as Morningstar as their primary resource for fund-related research. Thirty-two percent used fund company Web sites as their main source of information.

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