Consumers turn to financial services professionals for guidance on their financial well-being, but how do clients ultimately decide which advisors and planners they can trust?
We sat down with Michael Finke, Professor of Wealth Management and Frank M. Engle Chair in Economic Security at The American College of Financial Services, to discuss how ongoing training provides assurance to prospects and clients, and how the Magnet Program and educational trends like it are helping top professionals navigate the changing financial landscape.
“It’s all about instilling client confidence,” Dr. Finke told us. “If you feel you need to demonstrate competence, professionalism, and ethical best practices to a client, education is the best way. It’s really the essence of our shared philosophy with M Financial, which is: the more you know, the better job you can do as an Advisor and the more trust you can generate in your client.”
M Financial is proud of its longtime partnership with The American College, which includes collaboration on the curriculum behind the Magnet Program. As the nation’s largest nonprofit educational institution devoted to financial services, The American College has educated one in five financial advisors across the United States. Its faculty represents some of the foremost thought leaders of the financial services profession.
Through our deep partnerships with organizations such as the Association for Advanced Life Underwriting (AALU), LIMRA, and The American College of Financial Services, M has created a unique curriculum specifically designed to provide Financial Advisors with optimal career support. Learn more about the Magnet Program Curriculum.
How the Magnet Program stands out
Dr. Finke describes Magnet as a new type of training for this industry. “It is an innovative platform that combines the best of the philosophies of The American College, M Financial, and top industry leaders. The core of the curriculum, I would say, is about communicating the value of the product, and developing a comprehensive understanding of the ways in which the product can provide value to consumers.
“An important part of that curriculum is helping advisors develop a language for communicating the ways in which they can combine strategies to help clients meet their goals, whether it is planning their estate, planning for a legacy, planning to transition a business, or even protecting a business in the event of the death of an owner.
“The training also helps advisors understand a range of other product uses that are valued particularly by higher income, higher net worth clients who can benefit most from these types of solutions.”
Maximizing online learning’s potential
As technology evolves, so does education. New delivery methods offer an array of options for better, long-lasting learning. According to Dr. Finke, programs like Magnet are helping to expand industry education because of its willingness to embrace innovative approaches.
“We believe more cross-pollination between our two organizations — organizations that have a shared history and shared values in terms of the importance of education and leadership to provide value to clients — is an exciting prospect.”
“M Financial shares our thinking about using the resources that are available through online education to provide students with not just a more engaged learning experience and a more convenient learning experience, but also a deeper learning experience. I believe it’s the future of advisor education.”
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