A recent study conducted by MDRT Global Services surveyed field and home office leaders to understand the challenges and opportunities facing this group in the financial services industry. The study revealed that only 57% feel effective at staff development. Many cited effective recruiting as a challenge, with only 47% responding that they feel successful at reaching a diverse candidate pool. Skills like these are key to achieving success, so how do leaders in the financial services industry start to hone them?
That’s where MDRT Global Services comes in. Field and home office leaders who join MDRT Global Services will refine their management skills while also supporting their advisors and influencing their team’s success. MDRT Global Services will work alongside you in creating valuable training and resources unmatched anywhere in the financial services industry.
Here are three quick tips from leaders in the profession to help recruit advisors, foster relationships with your team and lead them to success. Building these relationships is important to leaders, and 64% of our survey respondents identified recognizing and motivating advisors as key to the success of their business.
- Marilou L. Dela Cruz-Romero, LUTCF, RFC, a 33-year MDRT member from Makati, Philippines. Personal connections play a key role in developing advisors. “The most important thing is that I get to know my financial advisor first,” she said. “Having a relationship is very important to understand where they’re coming from, and that at the end of the day, we’re still friends.” Dela Cruz-Romero conducts “engagement sessions” with her advisors. These weekly sessions have helped her create a personal relationship with her advisors while also developing their professional skills.
- Peggy Tsai, RFP, CCFP, the Second Vice President of the MDRT Executive Committee and a 19-year MDRT member. Tsai discusses how to create an MDRT culture within your team. “Many Doing Right Together, this is how we built the culture of MDRT into our agency,” she says. Tsai also makes sure to establish good relationships with her advisors and helps cut goals down into small missions to motivate her advisors to greater achievement.
- Chee Hong Gan, ChFC, CLU, an 11-year MDRT member. As the agency model continues to evolve, field and home office leaders will also need talented new recruits to create a team that serves their clients successfully. Gan describes it as “headhunting for talent.” “You’re recruiting advisors, but they each bring different capabilities to the team,” Gan said. Gan has developed a “two-level selection process” to help him recruit advisors with different skill sets to create a cohesive team and drive success. Effectively building teams is a primary concern for leaders, and it’s an area of focus for MDRT Global Services.
Whether it is staff development, recruiting or a another essential skill, the need for a dedicated association to help field and home office leaders in the financial services profession has never been greater. After hearing recent demands for additional development opportunities for field and home office leaders, MDRT Global Services is looking forward to providing leaders with innovative ideas to help them succeed. Join today to gain exclusive access to these tried and true strategies and more by visiting mdrtgs.org/join.html.