The Money Management Institute (MMI) is going to help groom the next generation of wholesalers.

Joan Lensing Money Management Institute Senior Vice President, Chief Marketing Officer

This morning at the 2015 MMI Fall Solutions conference at the Grand Hyatt above New York City's Grand Central Terminal, MMI chief marketing officer Joan Lensing that, thanks to an alliance with Maureen Wilke and Wilke and Associates, early next year the managed account industry trade group will launch a "wholesaler traininger center." The idea is to have online training for internal and external wholesalers.

"We think there's a real appetite for low-cost, scalable training, especially for smaller and mid-size firms," Lensing told attendees.

This is not MMI's first foray into online education and training. Since 2009 MMI has trained more 700 people on the basics of managed accounts via one-day, in-person workshops. Last year, in partnership with Wheelhouse Analytics, MMI took that managed account basics curriculum online, and more than 1,000 people have completed or enrolled in the program.

Envestnet bought a lot of online spots in that program and is offering scholarships to undergraduate and graduate students around the country who want to learn about the business. This fall 135 students from nine universities will participate in the pgroam, and Lensing says they're aiming for 5,000 students within the next five years. 

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