[11202]
August 20, 1999
TO: SALES FORCE MARKETING COMMITTEE No. 16-99
RE: MUTUAL FUND WHOLESALERS
______________________________________________________________________________
A task force (list of members attached) of the Investment Company Institute’s Sales Force Marketing
Committee recently held a conference call to explore whether a more suitable job title for a “mutual
fund wholesaler” could be identified and agreed upon by the Committee. The impetus for the
conference call was twofold: 1) a general agreement that the title "wholesaler" does not define the actual
duties and responsibilities of a "wholesaler" and 2) the belief that the title “wholesaler” has some
negative connotations in the financial services industry.
While the task force agreed that job titles lag quite a bit behind compensation and travel obligations as
priorities for wholesalers, the group concluded that most wholesalers would view a more descriptive job
title positively. The group also stated that a new title would be beneficial for the industry.
The task force then made the following points:
! It will be very challenging to get the field to view "wholesalers" in a different light.
! For a new title to have any chance of widespread acceptance and use, it must be unique.
! It is absolutely critical that a new title be supported by the entire industry.
! Gaining acceptance for a new title will take a long time.
After discussing a large number of titles, the task force narrowed down the possibilities to the following:
! Regional Investment Consultant
! Regional Investment Director
! Regional Sales Consultant
! Regional Sales Director
! Regional Marketing Consultant
! Regional Marketing Director
Because it is critical that any new title be agreed upon and supported by the entire industry, we would
like your input on these possible titles. Consequently, please complete the attached brief survey and
return it to me (by mail, fax or electronic mail) by September 15, 1999. You may want to gather input
from your own wholesalers and senior management before completing the survey. Please note that we
also will be requesting similar input from leaders in the broker/dealer community. Survey results will be
shared with the entire Committee.
Thank you very much. Your input is important to us, and we look forward to hearing from you.
Linda Brenner
Director, Operations and Training
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