Without the right resources and training, succeeding in a financial services profession is extremely challenging.
In fact, it takes just four years for more than 80% of new financial professionals to leave the industry. That finding from LIMRA’s Agent Production and Retention report may not be shocking, but it is sobering. And it is also the impetus for MDRT’s decision to create a separate association, the MDRT Academy, aimed at helping advisors reach the MDRT qualification level — and stay there for the long-term.
Officially launched Nov. 1, 2020, the cutting-edge, digital association is designed to provide the resources they need to learn best practices, sharpen and develop skills, increase their production and achieve success. It directs members toward 600+ resources that are MDRT-original or MDRT-approved and customized based on an Assessment. The gold-standard content ranges in format, including articles, videos, podcasts, webcasts, Performance Guides and goal tracking, catering to different learning styles.
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 understood that to help financial advisors grow, the MDRT Academy’s offerings needed to show and teach them what it takes to succeed. The Academy Assessment welcomes members and helps them better understand and identify their strength and growth areas. The Weekly Growth Plans then deliver personalized resources based on the results.
MDRT Academy content is all MDRT-original or MDRT-approved — and is facilitated via articles, videos, podcast episodes and Performance Guides. 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
Inside the web and mobile application, the MDRT Academy also offers goal-setting and performance-tracking features.
Members can choose from over 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.”
Membership now open
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.
