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Million Dollar Round Table Starts Prep Academy

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The Million Dollar Round Table (MDRT) is launching an online group for life insurance agents and other financial professionals who want to qualify for MDRT membership, someday, but aren’t there yet.

The new MDRT Academy website and mobile app are set to come to life Sunday. MDRT will use the academy program to offer educational, training and coaching resources aimed at would-be MDRT members.


MDRT is a Park Ridge, Illinois-based group for financial professionals who meet the group’s sales and ethical requirements.

In the United States, for example, the original production minimum for U.S. financial professionals who wanted to get into the group in 2020, based on 2019 commissions or fees,  was $97,000.

MDRT ended up responding to the effects of the COVID-19 pandemic by easing production requirements for 2020 members.

For 2021, would-be U.S. members must generate $61,000 to get in based on eligible 2020 commissions.

MDRT has 65,000 members globally. Its annual meetings offer programming in many languages, including Cantonese, Korean and Thai.

The new academy program offers a new member assessment program, along with weekly growth plans, and articles, videos, podcast episodes and performance guides designed to help the members grow. The content will focus on personal development, advising clients, practice management and practice marketing,

Academy program members will be able to talk to MDRT members through an academy forum, and through monthly web casts, MDRT says.

Academy program members who are selling enough to get close to qualifying for MDRT membership will be to attend an MDRT meeting.

MDRT has been offering a test version of the program to some financial professionals and other participants for three years.

The version of the program that starts Sunday will be open to financial professionals who do not yet qualify for MDRT, and live in the United States, Australia, Canada, Hong Kong, India, Jamaica, Malaysia, the Philippines, Singapore, the United Kingdom or New Zealand.

The current academy are resources are in English. MDRT is working to develop materials aimed at program members in additional markets and at members who would prefer to use languages other than English, the group says.

— Read MDRT Moves to Hold Members Closeon ThinkAdvisor.

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