SFSP Making Changes To Serve A More Diverse Membership

SFSP Making Changes To Serve A More Diverse Membership

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Seattle, Wash.

The continuously changing financial services environment has forced companies, agents, and organizations to change the way which they do business and the Society of Financial Service Professionals is no exception. At its annual educational forum here last month a new focus on serving a diverse membership was clear.

“Five years ago, you were asked to write down on a piece of paper what you call yourselves,” said Ann Hartmann, president of the SFSP. “Twenty-five percent of those present said they were insurance agents, some said benefit specialists, some said financial planners. It was all over the place,” Hartmann said.

At that time, she explained, the Society was still acting as if its membership was not diverse. Since that time, however, it has been taking steps to change its culture to create a better environment for its diverse membership, with a major effort towards growing the organization.

“We are broadening our scope,” said Joe Frack, CEO of the SFSP. “We need to do a better job to attract some new professionals, namely attorneys, CFPs, and CPAs.”

The Society has conducted a number of focus groups to discover what these professionals consider important elements to membership in a professional organization. Frack said the majority are looking for educational and networking opportunities.

“These folks are trying to learn more about the traditional life business but they’re also looking to have a cadre of professionals they can trust, feel comfortable with, and understand have recognized credentials,” said Frack. “Networking is a big part of what we think these people are after right now.”

He explained that networking takes place mostly through the community built around the local chapters.

Hartmann feels that in recent years, that sense of community has been lost, with not all chapters giving adequate service to their members. But now, she said, the Society is taking steps to rebuild a strong sense of community by working more closely with local chapters.

Hartmann said the Society’s board will be visiting every local chapter this year.

“We really believe the most valuable membership experience someone can have through the Society is being part of a community,” said Hartmann.

She refers to each chapter as a “franchise” and says it has a responsibility to its members to provide real services in the form of programming.

“We are developing materials to identify what makes a healthy chapter, and what things a good chapter should offer members,” she said.

Building a stronger community around the local chapters, and developing programs that will be supportive of their diverse membership will also help the Society expand its membership beyond the insurance professional, said Hartmann.