MDRT Family of Brands Expand Definition of Success

The MDRT Family of Brands, which includes MDRT for high-performing financial services professionals, the MDRT Academy for aspiring
MDRT members and MDRT Global Services for leaders in financial services, has added to the portfolio of honors available for exceptional members – and their companies. MDRT has redefined and added new categories within its annual Company Rankings to recognize
companies that successfully invest in membership growth, retention and longevity.

In addition to this, MDRT Global Services is introducing the MDRT Culture of Excellence Awards, which recognizes 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 companies and financial services professionals.

MDRT Expanded Company Rankings
Using a more holistic approach to measuring achievement, MDRT will restructure and add new categories to its Company Rankings beginning in 2022. These new categories will recognize companies that achieve excellence in the areas of MDRT membership growth, retention and
longevity – areas which demonstrate a commitment to investing in their advisors’ personal and professional development. The eight new rankings include, Top 25 Companies – Total Membership Growth; Percentage of Membership Growth; Total Members who Rejoined; Percentage of Members who Rejoined; Total Number of 5-9 Year Members; Percentage of 5-9 Year Members; Total Number of Qualifying and Life Members; and Percentage of Qualifying and Life Members.

“MDRT membership growth, retention and longevity are critical to companies that want to generate success within their ranks and demonstrate a commitment to excellence,” said Randy Scritchfield, CFP, LUTCF, MDRT President.

“These new categories provide an opportunity to celebrate the financial service professionals who achieve and maintain career long success with their MDRT membership and acknowledge the important role their companies play in supporting that success,” he added.

The 2021 Top 100 Companies (Global) saw five Malaysian companies make the list. These companies are AIA Bhd., Prudential Assurance Malaysia Berhad, Great Eastern Life Assurance (Malaysia), Hong Leong Assurance Berhad, and Allianz Life Insurance Malaysia Berhad.
“Malaysia is a market full of potential and with an abundant supply of talents. We expect and have confidence that the Malaysian market will do well in the newly added awards and rise steadily in various rankings, achieving even better results in the coming future,” added Randy.

The 2022 Company Rankings will be announced in early July.

MDRT Global Services 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 an MDRT culture of excellence within their agencies. The Culture of Excellence Awards provide a framework for measuring success within MDRT Global Services, evaluating applicants according to an agency scorecard, which was developed following extensive research into key benchmarks for agency success.

The benchmarks identify six key aspects of successful agencies, including promotion, retention, recruitment, persistency, Whole Person, and membership in MDRT’s Family of Brands – aspects which set the requirements for award qualification. To qualify for the Gold, Platinum and
Diamond awards, agency leaders must meet three, four or five of their set criteria.

“These awards establish a new standard of excellence for global financial services leaders,” said Ian Green, Dip PFS, MDRT Immediate Past President.

“Successful leadership is so much more than just great numbers, which is why these rigorous awards also focus on MDRT’s Whole
Person concept and commitment to growth as evident by engagement within the MDRT Family of Brands,” he added.

MDRT Global Services Culture of Excellence Awards applications will be accepted between January and March of 2023, with winners announced in May 2023 and honored at a special awards ceremony at the MDRT Annual Meeting and MDRT Global Conference.

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