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.
Nationwide and Magnet
M Financial’s relationship with Nationwide began in 2006 and has grown since then. This year marks Nationwide’s second year with the Magnet Program, providing great training and mentorship to up-and-coming Magnet Financial Professionals.
Tovah Truini, Sales Manager at Nationwide
Nationwide and Pacific Life recently joined forces to hold an in-depth 4-week bootcamp leveraging industry topics for Magnet Financial Professionals. According to Tovah Truini, Sales Manager at Nationwide, “Our relationship with M is different from how we partner with other carriers. We work closely with key influencers at M and aim to have a close-knit partnership. We talk to M on a very frequent basis, and M is the only firm we have a training program with.”
The Magnet Program continues to evolve and invest in its participants through the relationships with carriers and the solutions they offer.
“By working with different carriers, each can provide an additional outlet on topics. Each of us provides a carrier expertise and different solution. If M only had one carrier, there would not be as broad of a spectrum,” said Tovah.
Tovah points out that the ways in which Nationwide supports Magnet have changed in 2020. Nationwide is leveraging the digital tools that are available to connect with Magnet Financial Professionals to continue supporting them and their growth.
“With Magnet Financial Professionals working mostly working from home, Nationwide has been able to engage more frequent webinars, trainings, and touch bases that help to increase knowledge and growth. When we are in the office, we are wrapped up and there is not as much time to be on the phone reaching out or hosting webinars, but right now we’re utilizing this flexibility to our full potential.”
The Magnet Training Program truly is one of a kind and continues to set new standards by differentiating Magnet from the other programs out there.
“The reason Magnet is so different is the three-tiered approach. There is support from member firms, mentors, and the carriers who are all involved in the program. There are a ton of resources and the program promotes participation,” Tovah said. “M is a phenomenal company to partner with, and I feel very fortunate to have been given this opportunity.”
Pacific Life and Magnet
Pacific Life and Magnet have a relationship that goes back over 35 years. Pacific Life continues to invest in M and the Magnet Program in strategic and innovative ways.
Carol Jensen, National Sales Manager at Pacific Life
“Collaboration and innovation have been a hallmark of these two great companies and has created one of the most successful relationships between a life insurance product manufacturer and a life insurance product distributor in the financial services industry,” said Carol Jensen, National Sales Manager at Pacific Life.
“M Financial and Pacific Life’s cultures are very well aligned. Based off our history together, it was no surprise that when provided the opportunity, Pacific Life committed to the Magnet Program immediately. The importance of bringing in the next generation of financial professionals benefits both of our companies, the industry, and the health of the communities we serve.”
Pacific Life plays an integral role in supporting Magnet and the rising Magnet Financial Professionals in a very robust way.
“Pacific Life has Magnet Financial Professionals involved in two innovation pilots. One is NEXT, a fully digital platform that reimagines the life insurance buying and servicing experience for emerging affluent consumers and the financial professionals who serve them. NEXT custom demos and training are available to all Magnet Financial Professionals as well as access to the NEXT Ambassadors’ call center and lead generation marketing tools,” Carol continued.
“Additionally, Pacific Life is also running a pilot project called Virtually In-Person (VIP), that centers on better connecting virtually to generate new business and deepen existing relationships. As part of this pilot, Pacific Life provides digital best practice training, assistance with digital capabilities, product-agnostic marketing content, and marketing execution services.”
Carol believes there are many factors that make the Magnet Program unlike any other program for financial professionals.
“When I started in the business almost 35 years ago, the level of training and support the Magnet Financial Professionals are receiving did not exist, plain and simple,” said Carol. “These participants are receiving carrier mentorship, their own dedicated sales manager in Jesse Woodcock, as well as support from the strong internal resources at M Financial Portland, and so much more.”
When it comes to what Pacific Life is doing to support Magnet in the current environment, Carol points out that solutions are changing and will continue to evolve.
“Virtual meetings are the standard now, and education and business submission will be utilizing technology Pacific Life has had for many years. Prior to COVID-19, these resources were not accessed and taken advantage of as much as they could have been,” Carol continued. “Now we’re seeing new business submitted electronically through simplified underwriting programs, usage of virtual meetings daily, online training via industry associations and vendors that help to train and grow.”
According to Carol, the benefits of being independent and the opportunities that Magnet Financial Professionals are able to leverage by having a network of diverse carriers are immense.
“M is an independent life insurance producer group that can provide independent analysis of products and services. M is also a watchdog for its policyowners when it comes to product development and enforcing policyowner treatment. No one carrier provides all solutions, so being an independent provider drives their selected carriers to new heights and provides a strong lineup for the Magnet Financial Professionals to learn and grow their business.”
She continued, “M never wants to rest on their previous success, they’re always striving to be better. Magnet Financial Professionals learn the value of providing customers with service that is built to stand the test of time at M Financial. M has its own reinsurance company and a long-standing understanding of the affluent client that would be difficult to find elsewhere in the independent space of our industry. M has always been about innovation and has been a leader in our industry. Magnet is another example of M’s dedication to their clientele and the industry overall.”
Learn more about the Magnet Program and the cutting-edge resources that are available to Magnet Financial Professionals.