With a labor shortage and numerous career options at their fingertips, why would millennials want to work in insurance? On the surface, the industry may not seem to share millennials’ values – but that perception isn’t accurate. Companies like M Financial have made tremendous progress and are transforming the industry to one that millennials want to be part of.
Financial advisors seeking an environment ripe for personal and professional growth should look first into the company culture.
While the benefits of culture won’t necessarily show up on balance sheets, studies show that a financial firm’s culture is critical for setting advisors up to be leaders in the industry and more successful in their role.
Continual advancements in technology are disrupting nearly every business sector. In an increasingly global society that emphasizes mobility and connectedness, digital engagement and data mining are transforming the way business is done.
In September, M Financial announced new strategic relationships with PNC Financial Services Group and The Links, Incorporated. These relationships will generate new opportunities for current and new financial advisors with M Financial and add diversity to both Member Firm services and clients.
The financial industry is continually changing – new technology, regulatory updates, shifting demographics – and this is great news for advisors who are internally curious and adopt a mindset of learning in all areas of their business.
If you are a woman executive in the world of insurance and financial consulting, you no doubt find yourself in the minority. In the financial industry, women make up over half of the entry-level workforce, but fewer than one in five C-suite positions are held by women, according to Closing the Gap, a study conducted by Leanin.org and McKinsey & Company.
Linda Cahill, co-owner and principal of Enza Financial, challenges the notion that men are best suited for the insurance industry. When it comes to the financial services sector, she believes the market for women is huge — and hopes to see more women bring their skills and talents to the industry.
Kristi Barens, Principal at Mullin Barens Sanford Financial, says that success in the insurance industry requires preparation, mentorship, and the right mindset. Kristi is now a powerful force in the executive benefits industry and a founding partner at her firm, yet when she chose to move from a Senior Manager to an Advisor role almost 20 years ago, she had concerns about leaving a comfortable salary for a commission-only job.
In every new career journey we embark on and every new company we join, we all want to feel valued and supported. Any role is more satisfying when we have someone in our corner who encourages and champions our growth – and that’s exactly what a good mentor does.
For the insurance industry, the shifting demographics of wealth have sparked a deeper conversation around diversity and inclusion. With digital innovation, higher customer expectations, and disruptive newcomers impacting the marketplace, many insurers are rethinking how to best compete in an increasingly dynamic industry.