Million Dollar Round (MDRT) — a global association for financial services professionals — is broadening its support and reach with a new kind of association, the MDRT Academy.
Without the right resources and training, succeeding in the financial services profession is extremely challenging. In fact, according to LIMRA, more than 80% of new professionals leave the industry after just four years. MDRT created the MDRT Academy to help change that.
Launched on Nov. 1, 2020, the MDRT Academy is a fully digital association that provides its members with the resources they need to learn best practices, sharpen and develop skills, increase their production and achieve success.
A global academy
With more than 65,000 of the world’s leading life insurance and financial services professionals, including 2,000+ from the Philippines, MDRT is looking to engage those striving to reach MDRT-level productivity.
The MDRT Academy is available to advisors who do not yet qualify for MDRT, and reside in the United States, Australia, Canada, Hong Kong, India, Jamaica, Malaysia, the Philippines, Singapore, the United Kingdom and New Zealand. Today, all Academy resources are in English, with language- and market-specific offerings in development. Advisors can learn more about the MDRT Academy and apply for membership at www.mdrtacademy.org.
Digital by design
While other industry organizations continue to adapt to the virtual world, the MDRT Academy was built for it. All of its available resources and community are accessed through a mobile application and website. The concept was field-tested by financial advisors and corporate participants over a three-year pilot phase. Throughout that time, beta members engaged with the resources, provided feedback and helped shape new offerings.
“As a young financial advisor aspiring to get to the next level, the MDRT Academy app was the perfect tool,” said Brandon Heckert, former MDRT Academy member and current MDRT member. “It allowed me to keep track of my goals and obtain the resources I needed to conduct my practice in a tech-focused world.”
Access to the best
MDRT understands that to help financial advisors grow, the MDRT Academy’s offerings need to show them what it takes to succeed. The Academy Assessment welcomes members and helps them better understand and identify their strength and growth areas. Weekly Growth Plans then deliver personalized resources based on the results.
MDRT Academy content, which includes articles, videos, podcast episodes and Performance Guides, is all MDRT-original or MDRT-approved. The content topics are broken up across four areas of focus that MDRT Academy has identified as being key to success: marketing your practice, advising your clients, managing your business and developing yourself. Academy members also gain access to MDRT members and other industry leaders and can connect with them in the app’s community and during monthly Webcasts.
Prioritized for performance
The MDRT Academy also offers goal-setting and performance-tracking features. Members can choose from more than 100 personal and professional goals, see what’s trending among their peers and industry leaders, and create custom goals specific to their life and practice. Those who are at higher levels of production can gain even more insights to fuel growth through an opportunity to attend an MDRT meeting.
“I wish I had the MDRT Academy when I was first starting out,” said MDRT President Ian Green, DipPFS. “There’s no doubt in my mind that I’d have improved my business faster and become better at customer service sooner. If you want a fast track to MDRT qualification, there’s no finer resource.”