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Mutual Fund Sales Representative

Mutual Fund Sales Representatives (MFSRs) are employed throughout the financial services industry by mutual fund dealers and independent financial planning firms. Personal Banking Representatives and many Insurance Sales Agents may also become licensed to sell mutual funds.

As with Investment Advisors, Mutual Fund Sales Representatives are expected to build their own clientele and serve investors' investment, retirement and estate planning needs. Unlike Investment Advisors, who are licensed to deal in stocks and bonds in addition to mutual funds, Mutual Fund Sales Representative are only licensed to advise on and sell mutual fund investment products.

  • Build a book of business and open accounts for new clients.
  • Analyze client needs and recommend mutual funds best suited to investment, retirement and estate planning goals.
  • Receive and execute orders to buy or sell mutual fund units.
  • Provide clients with account information and performance reports.

To become registered as a Mutual Fund Sales Representative, a candidate must first fulfill proficiency requirements set out by industry regulators. One way is to complete CSI's Investment Funds in Canada (IFC) Course or CSI's Canadian Securities Course (CSC). A 90-day training program must also be completed.

New Mutual Fund Sales Representatives are usually paid a salary. Commission or fee-based compensation is usually phased-in after the first year. New representatives can earn between $30,000 and $50,000. More experienced representatives can earn $150,000 or more.