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Randy Scritchfield Takes Over As MDRT President

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What You Need to Know

  • MDRT serves 500 companies in 70 nations.
  • Many of the members are in China or India.
  • Scritchfield has a retirement planning firm in Damascus, Maryland.

Randy Scritchfield has taken over as the 2022 president of the Million Dollar Round Table.

Scritchfield is president of Randy Scritchfield and Associates, a retirement planning firm in Damascus, Maryland. He has been selling life insurance since 1980.

He has been active with many groups in the insurance community and his local community. In addition to leading the MDRT, he is serving as the chairman of Mid-Atlantic Federal Credit Union.

Scritchfield succeeds Ian Green, a financial planner who is based in London. Both men are members of the MDRT executive committee.

The other 2022 executive committee members are Peggy Tsai, MDRT’s first vice president; Gregory Gagne, the second vice president and Carol Kheng, the secretary.

MDRT

MDRT is a Park Ridge, Illinois-based group that represents high-performing life insurance and financial services professionals all around the world. It has members affiliated with about 500 companies in 70 countries and other jurisdictions, and many of the members are based in places like China, India and Thailand.

The group’s latest public Form 990 financial report, for 2018, shows that it reported $14 million in operating income that year on $59 million in revenue and $105 million in assets.

MDRT has been working to deepen existing operations and expand its scope.

The group recently formed a North American Channel Relations Team, to reach out to current and prospective members on its home continent. The group also has set up an MDRT Global Services affiliate, to offer programming aimed at managers who work inside life insurance companies’ home offices and field offices.

MDRT´s Pandemic Response

The MDRT requires applicants for membership to meet sales and other requirements. The group has responded to the COVID-19 pandemic by easing production minimums.

Scritchfield and MDRT emphasized that the group will continue to help members through the pandemic in 2022, with “updated membership requirements enabling members to focus on leading clients to continued success.”

In a statement, Scritchfield said, “MDRT is committed to ensuring our members remain well-supported — to not only help them navigate the ongoing impact of the pandemic, but help their clients and practice come out on top.”

Randy Scritchfield (Photo: MDRT)