[vMan]

Anyone have any advice on how one can sell mutual funds to the public without working directly for a company???

 

[leslie]

The person doing the selling must be examined and licensed first. The fund itself must also abide by regulations. The costs involved would not be recoverable by a single person with a single fund.

 

[Cal]

OR...Bernie Madoff may have some advice on this one. LOL.

(actually I believe he was licensed too)

 

[vMan]

The person doing the selling must be examined and licensed first. The fund itself must also abide by regulations. The costs involved would not be recoverable by a single person with a single fund.

to clarify...I would want to be able to sell a variety of existing mutual funds to clients...but wouldn't want to be working for say an Edward Jones or something.......

 

[CanadianCapitalist]

My understanding is you need to belong to a dealer organization. You can't recommend or sell funds directly to the public.

 

[MoneyGal]

You mos def need a relationship with a dealer...and there are many, many people out there selling MFs without having a job at Edward Jones or Investor's Group or at a bank.

Take a look at Investment Executive (get your hands on a paper copy) to see the ads from different dealers advertising their platforms for independent advisors.

Here's just one random example of a backoffice platform FYI.

 

[vMan]

thanks a million!

 

[OhGreatGuru]

This is going to sound awfully snotty, and I can understand your reluctance to tie yourself to some of the big instituions, where you can only sell their products, regardless of how good/bad they are. But I can't help myself.

Anyone have any advice on how one can sell mutual funds to the public without working directly for a company???

1. If you don't know enough to answer this question yourself, you are not ready to be an independent mutual fund salesman/advisor.
2. Suggest you work for a mutual financial institution until you learn enough about the trade to go into business for yourself.
3. If you aren't qualified to be hired by a financial institution, you aren't qualified to go into business on your own.

 

[MoneyGal]

Not to be overly contrarian, OGG, but I think it's a fair question.

We have no idea what stage the OP is at in considering this path -- he really may just be tossing ideas around for future planning. "I'm interested in finance, and I might be interested in getting a mutual funds license...but does that mean I'd have to have a 9-5 job with a big firm? What are my options?"

I don't there's a lot of information out there about how to get into the various career opps in the investment management field, and I welcome more discussion.

 

[vMan]

Actually I have worked in financial institutions in various capacities for 13 years and was quite qualified to be working there, although was not involved in mutual fund sales. I was asking the question because as an independant was curious about how one goes about representing a number of mutual funds rather than just a couple. Reason I ask is that the people I have worked with (or have done mutual funds for me) tend to push the ones that the seller will receive higher trailer fees for rather than the actual best performers. I am actually an accountant and am establishing a full services accounting firm and was wondering if I could tie investments into my business model. I could offer them in house or direct my clientele to someone else and collect referral fees.

 

[MoneyGal]

Offer them yourself. Lots of accountants do that. Use FundEx or something similar for your back office. PM me if you want more details; I am a former FA and my fave accountant has this setup as well.

 

[OhGreatGuru]

I humbly withdraw my snotty remarks. But it would have helped if you had provided this background in your first post.

 

[vMan]

Oops....I'm a minimalist when looking for info......initially I like to be quite general, tends to generate more info and discusssion