According to our discussion with firms regarding time allocation to training, external field sales has received only incremental increases in training; yet for many firms, the amount of strategies and vehicles have increased significantly. This dichotomy presents a high hurdle for success.

• Financial advisors consistently tell us that external field sales helps influence the decisions being made. And despite the evolution of the sales role from product pusher to holistic partner, advisors seek deep knowledge of a product/strategy from those interactions.
• We often hear, “Why can’t we gain traction in alternatives?” or “Why aren’t we competing more in this equity space?” Perhaps a clue to the answer lies in the data findings below.
• Sales leaders are increasingly focused on activities that produce results rather than metrics for metrics sake. In order to capitalize on the efficiencies being created in the sales process, it would benefit both their teams and firms to focus more time on training to effectively meet client needs.

External Wholesaler Time Allocation to Training

Source: FUSE Sales Management Surveys, 2019-2022