With its global membership now exceeding 90,000, the Million Dollar Round Table organisation is conducting its 2021 Annual Meeting this week.
Being presented in a virtual setting for the second consecutive year, this global adviser association appears to be walking the talk as it finds new ways to connect and engage with its world-wide community of members.
One of the greatest assets MDRT traditionally offers its members is the opportunity for them to connect ‘one-on-one’ every year – at the Annual Meeting held at different venues across North America and more recently at its Annual Global Conference, the first of which was conducted in Sydney in 2019.
During a time when in-person meetings and conferences remain beyond reach – events which for many represent the ‘jewel in the crown’ in terms of the value they receive from their membership – there would be few eyebrows raised if membership numbers took at least a temporary hit. But the opposite appears to be the case.
In August 2020, Riskinfo was reporting on an MDRT Virtual Annual Meeting which was available to be streamed to the organisation’s 65,000 members. Less than a year later, however, as we’ve noted in our introduction, MDRT has confirmed this week that its membership has now surpassed 90,000.
The fact that its membership has grown so significantly in such a brief period of time – during a global pandemic when members are prevented from personally connecting with each other – speaks volumes for an organisation that delivers value and relevance for its members which extends well beyond its annual events.
During this week’s event, MDRT members have the opportunity to experience a variety of narratives, including:
- Inspirational ‘main platform’ presentations
- More detailed focus group sessions which address a myriad of issues impacting advisers, advice businesses and the advice proposition
- Brief and ‘punchy’ MDRT Speaks presentations where MDRT members share innovative and creative business concepts in a powerful, fast-paced format
- ConneXion Zone, which features more than 50 quick-hit sessions where advisers access immediate takeaways and ideas to implement in their daily practice .
Advisers can also share photos and participate in peer-to-peer video chats this week with fellow members from around the world who share similar values or advice propositions, and they can also participate in live chat and other opportunities to engage in real time with other members.
Beyond the virtual meetings, however, other attributes which define the organisation and/or elements which add value for MDRT members – many of which were referred to by MDRT President Ian Green in his opening address this week – include:
- A culture of volunteerism, where all members are encouraged to volunteer in helping MDRT both locally and internationally and also within their own communities close to home
- Maintenance of a strong financial and moral foundation
- Development of productivity action plans designed to help existing members re-qualify and to help new members qualify for the first time
- The ongoing development of a multi-lingual MDRT app service
- A refreshed and re-launched global mentoring program
- Growth of the MDRT Academy, now available in 10 countries – designed for aspiring future MDRT members
- Launch of MDRT Global Services – a separate association for field leaders and mangers in jurisdictions which retain an effective tied agency system that connects life companies and advisers
- Adherence to MDRT core values, including the ‘Whole Person’ mantra, which contends that an adviser and his/her business cannot operate in a vacuum that is separate from the rest of their life
These attributes and services combine to add value for a growing community of financial advisers from around the world.
Riskinfo continues to support MDRT and will report other key messages and take-outs from this year’s Virtual Annual Meeting in the coming weeks.