PARK RIDGE, Ill.–(BUSINESS WIRE)–February 21, 2022–
The MDRT family of brands, which includes MDRT for high-performing financial services professionals, MDRT Academy for aspiring MDRT members, and MDRT Global Services for financial services leaders, has added to the portfolio of awards available to outstanding members – and their businesses. MDRT has redefined and added new categories in its annual business rankings to recognize companies that successfully invest in the growth, retention and longevity of their members. In addition to this, MDRT Global Services presents the MDRT Culture of Excellence Awards, which recognize agency leaders who cultivate excellence in productivity, retention, recruitment and more. With these new initiatives, the MDRT family of brands recognizes and elevates the exceptional performance of businesses and financial services professionals.
Expanded classification of MDRT companies
Using a more holistic approach to measuring achievement, MDRT will restructure and add new categories to its business rankings starting in 2022. These new categories will recognize companies that achieve excellence in the areas of growth, retention and MDRT member longevity – areas that demonstrate a commitment to investing in the personal and professional development of their advisors. The eight new leaderboards include:
- Top 25 Companies – Total Membership Growth
- Top 25 Companies – Percentage Growth in Workforce
- Top 25 Companies – Total Members Who Joined
- Top 25 Companies – Percentage of Members Who Joined
- Top 25 Companies – Total Members Ages 5-9
- Top 25 Companies – Percentage of Members Ages 5-9
- Top 25 Companies – Total Eligible and Lifetime Members
- Top 25 Companies – Percentage of Eligible and Lifetime Members
“The growth, retention and longevity of MDRT members is essential for companies that want to generate success within their ranks and demonstrate a commitment to excellence,” said Randy Scritchfield, CFP, LUTCF, President of MDRT. “These new categories provide an opportunity to celebrate financial services professionals who achieve and maintain career-long success through their MDRT membership and to recognize the important role their companies play in supporting that success.”
The 2022 company ranking will be announced in early July.
MDRT Global Service Culture of Excellence Award
With the MDRT Global Services pilot program underway as the newest addition to the MDRT family of brands, members of this unique association are actively honing their leadership skills and establishing a culture of MDRT excellence within their agencies. The Culture of Excellence Awards provide a framework for measuring success within MDRT Global Services, evaluating applicants against an agency scorecard, which was developed following extensive research into the key success criteria of the organization. ‘agency.
The benchmarks identify six key aspects of successful agencies, including promotion, retention, recruitment, persistence, whole person, and adherence to MDRT’s family of brands – aspects that define the requirements for award qualification. . To qualify for the Gold, Platinum, and Diamond awards, agency executives must meet three, four, or five of the following criteria, respectively:
- Production: 25% increase in production year over year
- Retention: 75% annual retention
- Recruitment: 20% annual agency recruitment rate
- Persistence: 13-month persistence rate of 90%
- Whole Person: Agency Community Involvement, MDRT Global Service Learning Engagement Score (measured by participation in webcasts, annual meeting/global conference, and completion of assigned modules in Harvard ManageMentor)
- Membership of the MDRT family of brands: 100% of agents must be members of MDRT or the MDRT Academy.
“These awards set a new standard of excellence for global leaders in financial services,” said Ian Green, Dip PFS, Past President of MDRT. “Successful leadership is about more than big numbers, which is why these rigorous awards also focus on MDRT’s whole person concept and commitment to growth, as evidenced by commitment within the family of MDRT marks.”
Nominations for the MDRT Global Services Culture of Excellence Awards will be accepted between January and March 2023, with winners being announced in May 2023 and honored at a special awards ceremony at the MDRT Annual Meeting and the MDRT Global Conference . Click here for more information on the Culture of Excellence Awards.
MDRT, The Premier Association of Financial Professionals®, is a global, independent association of the world’s leading life insurance and financial services professionals from more than 500 companies in 70 markets. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and exceptional customer service. Membership in MDRT is internationally recognized as the standard of excellence in the life insurance and financial services industry. For more information, please visit https://www.mdrt.org/ and follow them on Twitter @MDRtweet.
About MDRT Global Services
As a new offering from the MDRT global family of brands, MDRT Global Services was created exclusively for leaders in the financial services and home office space. As a distinct individual member association with innovative program offerings, MDRT Global Services offers its members exceptional value and opportunities for leadership growth. Membership in MDRT Global Services allows for increased engagement within the MDRT community while enabling leaders to develop a culture of excellence within their respective organizations. To learn more, visit mdrtgs.org.
About MDRT Academy
The MDRT Academy is an association for finance professionals striving to achieve MDRT-level production. Those who join receive exclusive access to MDRT member information, reference content and performance features tailored to their specific needs – and all of this is available through an intuitive website and mobile app. The MDRT Academy also offers goal setting and performance tracking tools, monthly webcasts featuring MDRT members, performance guides, and hundreds of articles, videos, and podcast episodes. approved by MDRT. Learn more at mdrtacademy.org.
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CONTACT: Giang Ngo
G&S Corporate Communications
KEYWORD: ILLINOIS UNITED STATES NORTH AMERICA
SECTOR KEYWORD: PROFESSIONAL SERVICES INSURANCE HUMAN RESOURCES FINANCE
Copyright BusinessWire 2022.
PUBLISHED: 02/21/2022 2:00 p.m. / DISK: 02/21/2022 2:02 p.m.
Copyright BusinessWire 2022.