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Wednesday, March 02, 2016

The Hiring Outlook Is Improving For Only One Fund Sales Role

Reported by Neil Anderson, Managing Editor

The hiring outlook is improving for only one mutual fund industry sales role: hybrid wholesalers.

Patrick Newcomb
FUSE Research
Director of Benchmark Research
Nearly 30 percent of fundster distribution chiefs and national sales managers say that they plan to increase their hybrid wholesaler headcount in the next 12 months, up from nearly 20 percent a year earlier. That's based on data in Fuse Research Network's just-released 2015 Costs of Distribution report authored by Pat Newcomb.

Prospects for eight other sales roles all look to be worsening, at least slightly. The biggest hiring area remains internal wholesalers: 45 percent of respondents plan to increase their internal wholesaler teams, down from more than 50 percent a year earlier. And now about five percent of respondents actually plan to shrink their internal wholesaler teams, up from zero.

Neil Bathon
Fuse Research Network
Managing Partner
Nearly 30 percent of respondents plan to boost their national accounts headcounts, down from almost 40 percent. And now about five percent plan to reduce the size of those national accounts teams, up from zero.

Almost 30 percent of respondents plan to increase their field (i.e. external) wholesaler forces, down from almost 40 percent. And nearly 20 percent plan to reduce their external teams, up from the single digits.

About 10 percent of respondents plan to increase their DC I-O teams, about the same as a year earlier. Yet more than 10 percent plan to shrink their DC I-O teams, up from zero.

Platform sales, internal sales desk management, and product research support all fell, to about 10 percent of respondents planning to expand in those areas. On the flip side, few (single digits for internal sales desk management and product research support, and none for platform sales) plan to shrink these departments.

Rounding out the list at the bottom are divisional sales managers, an area only about five percent of respondents plan to expand now, down from about 10 percent. And more than 10 percent plan to reduce their headcounts in this area, up from single digits. 

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