The Million Dollar Round Table (MDRT) First Vice President Julian H. Good, Jr., CLU, ChFC, on Aug. 10 unveiled a new income-based qualification method for membership. The new qualification option is one of three ways to annually qualify, if you are a current or former member in the premier association that provides access to some of the best minds and opportunities in the financial industry.
“The new qualification option recognizes recent global industry trends for some advisors to work with clients on a fee basis vs. commission,” said Good. “MDRT has thoroughly researched and evaluated this trend and concluded it will continue. It is important to maintain our high standards for membership, while evolving to meet the needs of the industry.”
Producers are currently able to qualify for MDRT membership based on their annual production as measured by either commissions earned or premium generated during the production year. Membership for the current year is based on a minimum of $87,900 of eligible commissions paid or $175,800 eligible paid premium credited to the agent’s account.