Inside the Bag

Tommy Elms, a former wholesaler now working as a producing branch manager, shares essential insights for anyone considering the jump from wholesaling to becoming a financial advisor. He covers his wholesaling networking club, common mistakes wholesalers make, the importance of respecting advisors’ time, strategies for helping advisors break out of a rut, the power of soundbites and success stories, the say-to-do ratio, his “best fives” presentation approach, and more.

Geoff Nance is the founder of Applied Distribution Lab. Throughout his career, he has both carried the bag and led distribution teams at leading firms, including Ivy Investments and John Hancock Funds. In this discussion, Geoff examines the “execution drift” he sees underway in the industry, shares his outlook for the wholesaling business over the next 10–20 years, and outlines what he believes wholesalers should prioritize going forward.

Ben Utt transitioned from a career with the Indianapolis Colts to excelling as an institutional sales executive. With more than 30 years of experience in the asset management field, Ben offers perspectives on taking an institutional sales approach to the RIA channel. Ben believes, “Everything retail is becoming institutional, and institutional is moving into retail.” Ben provides insights on compensation, his approach to selling to RIAs and family offices, niche managers, his sales process, and the industry's future.

Brian Margolis has spent over twenty years building and training top-producing wholesalers. In this discussion, Brian outlines his process, the mistakes wholesalers commonly make, a new paradigm for wholesaling, and the skills needed to succeed.

Luke Theeuwes and Keith Thompson have spent the majority of their careers specializing in a unique area of the wholesaling community. While the industry is dominated by large managers with trillions in AUM, and access across all the major broker-dealers, Luke and Keith have utilized techniques to enable smaller niche managers to enter the advisory community and achieve success. In this interview, Luke and Keith share their industry insights and strategies for wholesaling success.

Mark Warren not only carried “the bag,” he also helped lead the distribution efforts of one of the industry's most successful firms. Go “Inside the Bag” with Mark Warren, as we discuss the industry's evolution and future, providing insight into compensation, channelization, and much more.

Brian Waeyaert, one of the longest-tenured sales desk managers in the industry, shares his perspective on how the internal wholesaler role has evolved over the years. He highlights the most common mistakes internals make, explains how professionals can stand out in today’s competitive landscape, and explores the future of internal wholesaling—including the rise of the hybrid model. Brian also challenges leadership teams to rethink how they value internal sales roles and why compensation should better reflect their impact.