Comments on: Wholesalers Neglected Due to Management Cutbacks http://shorespeak.com/blog/2009/07/wholesalers-neglected-due-to-management-cutbacks/ What's Your MQ? Wed, 31 Aug 2011 05:09:01 +0000 hourly 1 http://wordpress.org/?v=3.3.2 By: Rob http://shorespeak.com/blog/2009/07/wholesalers-neglected-due-to-management-cutbacks/comment-page-1/#comment-1262 Rob Wed, 22 Jul 2009 18:26:10 +0000 http://shorespeak.com/blog/?p=1217#comment-1262 Alan, Thanks for the insights. We know that territory turnover has always been a big issue for selling reps. This round caused by the meltdown will take firms that had market share, and let folks go, quite a while to recover. Alan,
Thanks for the insights. We know that territory turnover has always been a big issue for selling reps. This round caused by the meltdown will take firms that had market share, and let folks go, quite a while to recover.

]]> By: Alan Melanson http://shorespeak.com/blog/2009/07/wholesalers-neglected-due-to-management-cutbacks/comment-page-1/#comment-1261 Alan Melanson Wed, 22 Jul 2009 15:42:15 +0000 http://shorespeak.com/blog/?p=1217#comment-1261 It is truly unfortunate for those wholesalers who recently got promoted from their internal desks or recently hired from another company. They had the product knowledge necessary to communicate the product benefits to financial advisors. Their soft skills may not have been quite up to snuff at the time of the lay off but they where making progress in the profession. I believe the shake out will force some good and seasoned wholesalers to re-evaluate the loyalty they may give to any firm they work with in the future. Advisors will see yet another revolving door of young faces vieing for face time as these firms try to ramp up their sales force. These firms will find that the talent pool that they let go was deeper and more committed to the firm than the next crop of wholesalers they will be forced to hire when the market stabilizes. It is truly unfortunate for those wholesalers who recently got promoted from their internal desks or recently hired from another company. They had the product knowledge necessary to communicate the product benefits to financial advisors. Their soft skills may not have been quite up to snuff at the time of the lay off but they where making progress in the profession.

I believe the shake out will force some good and seasoned wholesalers to re-evaluate the loyalty they may give to any firm they work with in the future. Advisors will see yet another revolving door of young faces vieing for face time as these firms try to ramp up their sales force. These firms will find that the talent pool that they let go was deeper and more committed to the firm than the next crop of wholesalers they will be forced to hire when the market stabilizes.

]]> By: Rob http://shorespeak.com/blog/2009/07/wholesalers-neglected-due-to-management-cutbacks/comment-page-1/#comment-1257 Rob Wed, 15 Jul 2009 21:18:38 +0000 http://shorespeak.com/blog/?p=1217#comment-1257 David, Thanks for these valuable insights and the contribution to the discussion. I agree that behavioral change shouldn't be expected. Hoped for, perhaps. Expected, no. David,
Thanks for these valuable insights and the contribution to the discussion. I agree that behavioral change shouldn’t be expected. Hoped for, perhaps. Expected, no.

]]> By: David Turnbough http://shorespeak.com/blog/2009/07/wholesalers-neglected-due-to-management-cutbacks/comment-page-1/#comment-1256 David Turnbough Wed, 15 Jul 2009 21:05:21 +0000 http://shorespeak.com/blog/?p=1217#comment-1256 Faced with such a tectonic shift in operating assumptions, managements have responded with conventional, even forecastable methods. Namely, slash sales teams, then marketing, then production (here we mean analysts and PMs) and finally administration. Ironically, of course, the talent necessary to exploit stabilization--never mind recovery--is ordered in the exact opposite direction. Yet, those left to rebuild are the administrators who see their workload as a burden to be relieved first as opposed to the truth that client facing and sales teams should be strentghened first, not weakened at this very point in the cycle. The history of competition among organizations from armies to corporatons demonstrates this phenomenon again and again. Don't plan on anything different this time. Managers rarely get this. Faced with such a tectonic shift in operating assumptions, managements have responded with conventional, even forecastable methods. Namely, slash sales teams, then marketing, then production (here we mean analysts and PMs) and finally administration. Ironically, of course, the talent necessary to exploit stabilization–never mind recovery–is ordered in the exact opposite direction. Yet, those left to rebuild are the administrators who see their workload as a burden to be relieved first as opposed to the truth that client facing and sales teams should be strentghened first, not weakened at this very point in the cycle. The history of competition among organizations from armies to corporatons demonstrates this phenomenon again and again. Don’t plan on anything different this time. Managers rarely get this.

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