Does MDRT Even Matter Anymore?

[DHK]

Through the forum's Professional Life Insurance Agent Discussion group on Facebook, I've connected with most of the MDRT Top of the Table members who love to give back and share. I have a wonderful relationship with them!

Qualifiers like: Van Mueller, David McKnight, Jim Ruta, Tom Love, John Ocweija, Tom Hegna, Bhupinder Anand, Dr. Sanjay Tolani, Kelly Smith, Barry Rutten, Antonio Filippone, and others.

We're doing Monthly Group Expert webinars with these producers. In March, we'll have David McKnight and The Power of Zero (time TBA).

So for me, I'll join MDRT once I qualify at Top of the Table so I can feel like I'm also "part of the club". Okay, maybe Court of the Table. But otherwise, I've got such a "brain trust" available to this group... I don't see the value of the base level MDRT membership.

 

[DHK]

Btw, regarding Forum 400... they've announced that they will merge with Finseca (along with GAMA, AALU, and NAILBA), so we'll see what that change does for that organization.

 

[Rearden]

Who cares?

That's kind of my point. =)

 

[Real_AMG]

That's kind of my point. =)

Agents who want guidance from people who actually make money in insurance and aren't trying to make money OFF of them should care. Yes you won't screw them over, but they have you pick you out of a group or 1000 other uplines that will.

 

[Allen Trent]

interesting side note on similar topic. Got my monthly NAIFA Advisor magazine. 10-15 pages & not a single article for a producer on how to sell or conduct their business. Entire publication was full of awards, sponsor thank yous & how to grow membership & the lobbying aspect. Also ironically, the pages dedicated to leadership had the pictures of the recent leadership, all 4 grey/greying white dudes (like me) age 55-75. No issue with them, but if an organization wants to know where its future is, they are going to have to find a way to bring people into the organization that helps them make it & thrive in the business, not just why it is important for our products to be front & center with politicians. Especially when the potential members are being asked to part with $600+ per year and no longer have any local chapters to network in. I did see they have a person focused on diversity that may help a bit. I am just surprised that more of these organizations are not merging to get some efficiencies in overhead & duplication in paying/donating to politicians

MDRT is definitely a better choice of spending $600 in my opinion than NAIFA for those with limited budgets, but I also find those looking to get their career going would be better off spending those limited funds on lead generation tools, being part of a local BNI professional referral partnership or networking group in a local chamber of commerce

NAIFA Advisor Today - Winter 2022 - Cover

 

[rousemark]

Agents who want guidance from people who actually make money in insurance and aren't trying to make money OFF of them should care. Yes you won't screw them over, but they have you pick you out of a group or 1000 other uplines that will.

And, that has nothing to do with MDRT. There are many high integrity agents/INOs that aren't MDRT and there are many MDRT that are slime balls.

 

[DHK]

MDRT is definitely a better choice of spending $600 in my opinion than NAIFA for those with limited budgets

MDRT used to require membership in NALU (now NAIFA). Now MDRT just requires membership in an eligible professional association as part of their membership requirements.

I was a member of NAIFA in 2020. My experience... wasn't exactly thrilling. Very little professional development (if any). I'm just not a fan for where else one could invest the same dues (even if it was just $30/month). I did like their monthly NAIFA LIVE events. In fact, I'm essentially doing that myself in the Facebook group. (But for the California state-level meetings... well... those left me wanting a lot more.)

I'm more of a fan of the IARFC. They help to brand you with an appropriate level of experience designation (RFA for under 3 years, RFC for 3+ years, and MRFC for their accredited designation; I plan to take that exam this year). Plus, if eligible, one can be granted their 'ethics approved' status as well. Decent articles in the quarterly publication in addition to their Journal of Personal Finance about twice a year.

For advocacy, I'd be leaning more towards Finseca (the former AALU now merging with GAMA, NAILBA, and the Forum 400). Finseca has two levels of membership. It used to only be the $1,500 per year option. Now there's a $500/year or $50/month option.

https://www.finseca.org/membership/

 

[mudhound]

Most agent now don't even know what this is!

 

[Real_AMG]

And, that has nothing to do with MDRT. There are many high integrity agents/INOs that aren't MDRT and there are many MDRT that are slime balls

Top producers that you meet through MDRT are not incentivized to lie to you like your IMO is.

What's the best line of insurance to pursue for my goals?
The ones that we sell.

What leads should I focus on?
The ones that we can get you.

What resources should I use for training?
The ones that we give you.

Which agencies should I avoid?
All the ones that aren't us.

Following this advice is no way to become a well-rounded and successful agent.

 

[WinoBlues]

Top producers that you meet through MDRT are not incentivized to lie to you like your IMO is.

What's the best line of insurance to pursue for my goals?
The ones that we sell.

What leads should I focus on?
The ones that we can get you.

What resources should I use for training?
The ones that we give you.

Which agencies should I avoid?
All the ones that aren't us.

Following this advice is no way to become a well-rounded and successful agent.

Pretty much.