Financial professionals in Malaysia will now have access to resources and guidance to help them in their careers as MDRT - a global, premier association founded in 1927 for financial services professionals - is broadening its support and reach with a new kind of association: the MDRT Academy.
The Academy's aim is to help financial advisors who want to reach MDRT's top-level qualification requirements.
Without the right resources, succeeding in the financial services profession is extremely challenging. According to LIMRA, a worldwide research, consulting and professional development organisation, more than 80% of new professionals leave the industry after just four years.
The situation is made more difficult with the onset of COVID-19 and its far-reaching impact across economies and livelihoods. MDRT created the MDRT Academy to help change that, providing a borderless, digital support system for advisors around the world.
Now available to qualifying advisors in Malaysia, the MDRT Academy is a fully digital association that provides its members with the resources they need to learn best practices, sharpen and develop skills, increase their production and achieve success.
Digital by design
While other industry organisations 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 understands that to help financial advisors grow, the MDRT Academy's offerings need to show them what it takes to succeed. The Academy Assessment welcomes members and helps them better understand and identify their strength and growth areas. Weekly Growth Plans then deliver personalised resources based on the results.
MDRT Academy content, which includes articles, videos, podcast episodes and Performance Guides, is all MDRT-original or MDRT-approved. The content topics are broken up across four areas of focus that MDRT Academy has identified as being key to success:
1)Marketing your practice
2)Advising your clients
3)Managing your business
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.
Prioritised for performance
The MDRT Academy also offers goal-setting and performance-tracking features. Members can choose from more than 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 it will support financial advisors in Malaysia to improve their business faster and become better at customer service sooner, especially during challenging times like what we're experiencing today. There's no finer resource to gain a fast track to MDRT qualification."
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.
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