Internal Wholesaler

Penn Mutual   •  

Attleboro, MA

Industry: Accounting, Finance & Insurance


Less than 5 years

Posted 46 days ago

Position Overview

The Internal Wholesaler/Internal Marketing Representative (“IMR”) is responsible for contributing to sales through producer recruiting, telemarketing, and providing product, illustration, marketing and sales support. The IMR will proactively work to create new as well as manage existing relationships with producers in his region to achieve recruiting and sales goals. This internal wholesaler will work in partnership with the field sales team (to include Regional Directors, Regional Marketing Directors, or Regional Marketing Specialists as assigned). The IMR must develop and maintain a thorough familiarity with all aspects of the assigned regions to include, but not limited to, understanding of the business practices of key producers, overview of Focus Firms, geographic locations of producers, and knowledge of the regional sales style needed to locally market life insurance or annuity products. This position will also function as a liaison between the field and the home office.


Position Expectations


* Recruiting and Producer Support:

  • Conducts telemarketing activities with current and prospective producers that will generate sales activity.
  • Proactively develop business relationships with current and prospective producers to encourage new sales.
  • Increases the number of producers that do business with Penn Mutual as well as maximizes the sales potential from each producer contact.
  • Develops and follows-up on producer sales leads from a variety of sources including referrals from other associates, producers, Relationship Management, broker-dealer conferences, industry conferences or any other sources, as appropriate.
  • Provides ongoing service and support to producers.
  • Follows up scheduled meetings of field partner(s) and provides information as requested.

* Outbound and Inbound Telemarketing:

  • Generates daily appointments by proactively calling prospects and existing producers to schedule 1 on 1 appointments for field partners, as assigned, achieving weekly appointment goal for each field partner.
  • Prospects for potential new producers using various support tools, including but not limited to, Brokerage, MDRT, Regional Database rep lists applying mapping software to attain efficient territory management.
  • Follows up on all regional recruiting campaigns with producer phone calls to obtain appointments
  • Promotes sales seminars with producers and confirms attendance.
  • Conducts follow-up phone calls to schedule appointments with prospects and producers before and after seminars, broker-dealer meetings, and regional meetings.

* Marketing:

  • Manages all marketing activities in assigned regions to maximize field sales activity.
  • Develops sales ideas to share with producers as well as provides illustration support reflecting benefits of sales concept.
  • Works with field partner or home office marketing associates to coordinate various promotional events.
  • Follows-up on all marketing campaigns to offer additional support and/or schedule one-on-one follow up appointments

* Company, Product and Technical Knowledge:

  • Obtains required knowledge regarding Penn Mutual’s mutual structure, financial stability and industry ratings.
  • Understands FINRA and insurance regulations as well as company compliance guidelines and adhere to same.
  • Develops and maintains comprehensive and in-depth working knowledge across all supported product lines, investment sub-accounts and operational procedures.
  • Comprehends the suitable application of PML’s product in sales situations and recommend to producer, as appropriate.
  • Provides illustration and case design support.
  • Stays abreast of Penn Mutual’s competition, specifically product and marketing programs, and advanced sales applications.

* Sales Tracking, Sales Analysis, Recordkeeping and Reporting:

  • Tracks weekly appointment activity and report sales results; maintains records documenting status of appointments and sales results.
  • Remains current on case status, proactively communicating with producer regarding status of case.
  • Retains and tracks illustrations and related sales results.
  • Creates and maintains updated database with current producer information.
  • Analyzes sales activity and results upon request.
  • Provides weekly sales reports and reviews results during team meetings.

* Complies with all company and site policies and procedures.

* Remains current in profession and industry trends.

* Successfully completes regulatory and job training requirements.

* Performs other duties as assigned.


Required Skills


Skills & Abilities 

  • Proven track record of sales success or direct contribution to sales team
  • Ability to make a positive contribution as demonstrated by learning new skills and making suggestions for process/procedure improvement.
  • Ability to work with others in a collaborative team environment.


Required Experience

  • Three to five years of related experience in the sales and marketing of insurance products; equivalent experience may be considered


Education/Licenses/Professional Designations

  • Bachelor’s degreerequired
  • FINRA Series 6 or 7 and Series 63 registrations required
  • Life insurance license required
  • Willing to obtain industry certifications, such as, CLU, and/or ChFC