There is certainly a business case for diversity and inclusion – and it has helped those advocating for cultural change in the financial services industry. Today, companies face unprecedented challenges due to the global pandemic and issues around social injustice. It is imperative now, more than ever before, to have diverse representation and inclusive practices.
The economic might of women is large and growing. According to research by McKinsey and Company, women control a third of U.S. household financial assets — that’s more than $10 trillion. The report states, “By 2030, American women are expected to control much of the $30 trillion in financial assets that baby boomers will possess.”
M Financial’s Magnet Program, now in its second year, is a cutting-edge professional development program that guides and empowers financial professionals while allowing them to create a blueprint for entrepreneurial independence. Prudential and John Hancock recently announced their investment in the program as gold sponsor carriers.
The COVID-19 pandemic has strengthened long-standing carrier partnerships with Magnet Gold Sponsors Nationwide and Pacific Life as the program dives deeper with additional tools and trainings delivered virtually. M Financial’s Magnet Program has always been robust – and it has pivoted quickly to adapt to the climate.
So much has changed over the course of the past few months in our country and worldwide. One of the things that remains is the value of life insurance and the invaluable importance of having a diverse group of knowledgeable professionals in the industry.
Jacalyn Barens fell into the insurance industry after working in luxury hospitality for more than four years, managing reservations for wealthy customers, and becoming dissatisfied with the lack of work-life balance hospitality provided her.
Amer Geries, a first generation Egyptian American, attended the University of Maryland and studied law. He was on his way to a career in criminal law when he received a call from Northwestern Mutual. At that time, Amer had no interest in the insurance industry; however, after speaking with a recruiter and learning more about the financial sector, his interest grew. Amer initially sat on the opportunity for months, but something changed for him when he spoke with his parents about their own plans.
Your career path isn’t always as straightforward as you might think. Sometimes your family nudges you in a particular direction, sometimes your favorite movie inspires you. That’s the case for two up-and-coming financial professionals and community influencers in our Magnet Program.
While most industries will be impacted by COVID-19, the insurance industry may just offer you the stability and control over your future that you’re looking for. Follow these tips to learn how you can accelerate your career transition in the coming weeks.
With continued growth of the global financial market, the demand for financial advisors is increasing, and many ambitious professionals are considering this career path. But while opportunities at some financial firms sound alluring on paper, they’re often not structured to give you the support you need to succeed.