The wholesale and discretionary channel has become a core strategic priority for asset managers. Once seen as a supporting route to market, it is now a primary focus for many distribution teams, particularly as the institutional market tightens and flows become harder to generate. For firms looking to build long-term partnerships, deepen client engagement, and maintain brand relevance across volatile cycles, investing in the right sales professionals within this channel is critical. As experienced wholesale and discretionary sales recruitment professionals, we’ve seen this evolution first-hand - and the shift is both significant and ongoing.

The channel itself covers a wide range of buyers, including discretionary fund managers (DFMs), private banks, wealth managers, and select financial advisers. What binds them is their control of client assets and their influence over allocation decisions. These are sophisticated buyers. They expect more than relationship management - they expect genuine partnership, technical insight, and the ability to explain complex products clearly and credibly. In recent years, this expectation has only increased. Performance is still paramount, but buyers also want transparency on process, ESG integration, operational resilience, and - increasingly - diversity within investment teams and the broader business.

This professionalisation of the channel has raised the bar for sales talent. It is no longer enough to be well-networked or personable. The best performers understand how products are assessed, how gatekeepers think, and how to shape conversations that align with client objectives. They operate with structure. They track engagement, understand key decision points, and use data intelligently. At the same time, they bring strong soft skills - listening, influencing, and resilience in the face of growing competition.

Understanding the “plumbing” of the wholesale and discretionary channel is equally important. Platforms, for example, play a central role in product accessibility. Being included on major adviser platforms is often a prerequisite for consideration, particularly among DFMs. Sales professionals must know how to navigate these platforms, advocate for listings, and support the operational onboarding process. Equally, they must be aware of which firms prioritise model portfolios, which prefer segregated mandates, and how to shape their approach accordingly. These nuances matter. They separate good salespeople from those who genuinely move assets.

The most effective sales teams work in close partnership with marketing and product development. Gone are the days when sales operated in isolation. Marketing provides the content and tools that build trust - whether through thought leadership, event strategy, or targeted digital engagement.

Product teams provide clarity and depth, enabling sales professionals to speak confidently about structure, philosophy, and performance drivers. When these functions are aligned, messaging becomes more consistent and compelling. Clients notice. In an environment where every basis point is scrutinised, clarity and coherence can be decisive.

Current market conditions make the wholesale and discretionary channel even more important. Flows are harder to come by. Investors are more cautious, more analytical, and more selective. Asset managers must respond with professionals who can engage at a high level - those who are organised, persistent, and trusted. They must also be adaptable. Strategies that sold well two years ago may now face headwinds. Sales professionals must be able to pivot, absorb new information, and remain credible across market cycles. These are not just commercial skills - they are strategic ones.

For asset management leaders, the recruitment challenge is twofold. First, to define the profile required. Some firms need senior relationship managers who can navigate long-standing accounts with sensitivity and nuance. Others need business developers who can open new relationships and drive pipeline. Many need a blend of both. Second, firms must recognise the competition for talent. The best candidates are often not actively looking. They need to be engaged thoughtfully, assessed rigorously, and shown a clear path to success.

Culture also plays a role. Sales professionals in this channel want to represent firms that value their input, invest in long-term brand building, and support cross-functional collaboration. They want to work with products they believe in and with colleagues who share their drive. Getting the hire right is not simply about track record - it is about alignment of values, working style, and ambition.

As wholesale and discretionary sales recruitment professionals, we believe that the right people make the difference between average and exceptional performance. The channel will only become more important in the years ahead. For asset managers that want to grow, adapt, and stay relevant, investing in top-tier talent - and supporting that talent with structure, insight, and strategic alignment - is no longer optional. It is essential.