MDRT Announces New Membership Requirements
December 26, 2017 by MDRT
PARK RIDGE, Ill. —The Million Dollar Round Table (MDRT) announces updates to its U.S. membership qualifications for 2019. The revised requirement removes product-specific minimums allowing members to further serve their client’s best interest and meet industry regulations enacted by the Department of Labor.
Current requirements stipulate a minimum 50 percent of qualifying production come from the sale of eligible insurance related products, with the remainder from health insurance and investment products. With the requirement removed for 2019 U.S. applications, members will be able to achieve qualification using any MDRT eligible product in any combination and proportion.
The shift away from product-specific requirements is designed to ensure compliance with new regulations in keeping with MDRT’s code of ethics.
The ‘right financial solution’
“These updated requirements unite industry standards with the ethics and best practices that MDRT has held its members to for its 90 year history,” said MDRT President James Pittman. “This will further encourage members to present a broad array of products, in the development of the right financial solution for each individual client.”
Although the modified requirements remove product-specific quotas and thresholds, it does not expand the pool of products used to qualify for membership.
MDRT is a forum where successful industry leaders can share best practices and ideas. A cornerstone of its mission aims to lead members to the path that inspires personal success as a byproduct of client success and satisfaction. The membership requirement changes are in direct response to members’ understanding and desire to comply with regulations.
To learn more about MDRT requirements, please visit here.
Founded in 1927, Million Dollar Round Table (MDRT), The Premier Association of Financial Professionals®, is a global, independent association of more than 62,000 of the world’s leading life insurance and financial services professionals from more than 500 companies in 69 nations and territories. MDRT members demonstrate exceptional professional knowledge, strict ethical conduct and outstanding client service. MDRT membership is recognized internationally as the standard of excellence in the life insurance and financial services business. For more information, please visit mdrt.org and follow them on Twitter @MDRtweet.