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.
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.
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.
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.