Woodbury Financial Services Inc. says it will beef up Web education programs and other education programs but suspend use of vacations as a motivator.
Woodbury Financial, Woodbury, Minn., a broker-dealer distribution arm of Hartford Financial Services Group Inc., Hartford, has a field force of 1,800 sales representatives.
The distributor will cut out use of incentive travel in 2009, the distributor says.
Reps seem to understand and support the move, according Woodbury Financial President Walter White.
“They recognize that it is the appropriate thing to do to temporarily stand down from luxury incentive trips and to focus instead on the things that drew us all into this profession,” White says in a statement. “Things like helping people achieve their retirement dreams, despite the uncertainties of the economy.”
Although Woodbury Financial will offer no 2009 incentive trips, it will “greatly increase its investment in education, training and networking for reps in 2009,” the distributor says.