MassMutual Field Force Grows to Record 5,000, Reflecting Strong Consumer Demand for Products, Services
Milestone is accompanied by record whole life insurance sales
(Springfield, MA) - The ranks of financial professionals in the field at Massachusetts Mutual Life Insurance Company (MassMutual) have reached an important milestone in the company’s 158-year history – driven in part by the company’s solid financial performance, reputation and agent retention, as well as insurance products that answer renewed consumer interest in stability and guarantees. MassMutual now has more than 5,000 financial professionals in local communities across the U.S. to help consumers make good financial decisions and achieve their long-term goals. Over the past three years, MassMutual has grown its field force by more than nine percent each year.
“Talented professionals continue to be drawn to our company because of our strong reputation, the rewarding work, and entrepreneurial environment,” said Michael Fanning, executive vice president of MassMutual’s U.S. Insurance Group. “Mutual insurance companies like ours have remained strong during the economic downturn, and financial professional candidates, policyholders and clients have a lot of confidence in our company and products. The proof of this is not only reflected in the achievement of our field force milestone but in our record double-digit sales growth of whole life insurance last year and continued strong growth. Whole life insurance premium is up 9 percent and policy count is up 21 percent since the beginning of the year, demonstrating that we’re providing more coverage to Americans who need it.*”
Of key significance is the way that MassMutual continues to expand to meet consumer needs. The company has grown its ranks to reflect the diversity of its customers and the communities it serves. Nearly a quarter of all new recruits in 2009 were women, while 15 percent were from multicultural backgrounds. The company also continues to attract accomplished college and university graduates interested in careers in financial services as well as talented, accomplished people from other industries, including retail management and education.
“We’re seeing a lot of interest from a range of people in college, the financial services industry, or other lines of work who want to take greater control of their futures, enjoy more opportunity, and benefit from the stability of a company that’s been successful for more than 150 years,” said John Vaccaro, corporate vice president of sales and distribution for MassMutual’s U.S. Insurance Group. “We have a long history of giving our financial professionals the products, tools and support they need to succeed, which has helped drive the excellent growth we have seen over the last three years in our network of financial professionals. MassMutual appeals to people who want to be in business for themselves, but not by themselves.”
Prospective candidates undergo rigorous screening to ensure they are well-suited to a career in financial services. They receive extensive training in needs-based analysis, and receive mentoring from veteran financial services professionals.
The company also attracts experienced financial professionals because of its specialized training programs in specific markets, including families with special needs and family businesses.
For example, MassMutual’s SpecialCareSM program encompasses a broad range of opportunities for seasoned financial professionals, including the Special Care Planner certificate program through The American College in Bryn Mawr, PA, offered exclusively to MassMutual financial professionals. In addition to intensive training, MassMutual’s network of more than 300 Special Care Planners gain valuable insight in estate and tax planning concepts, special needs trusts, government programs, and the emotional dynamics of working with people with special needs and their families.
MassMutual’s Certified Family Business Specialist program, also developed in concert with The American College, is offered exclusively to MassMutual financial professionals, as well. A distinction held by more than 350 MassMutual financial professionals, this program is designed to broaden the knowledge and insight into the inner workings and challenging dynamics of family-owned businesses.
“At MassMutual, we remain committed to financial professionals who work in or through our career agency system,” said Fanning. “Hitting the ‘5,000’ milestone demonstrates that we are responsibly developing a solid field force that can meet the needs of our growing policyholder and client base.”
“This achievement would not have been possible without the steady leadership of Burv Pugh, MassMutual’s senior vice president of sales and distribution, who is retiring at the end of 2009,” said Fanning. “As I salute Burv and his staff for their hard work and dedication, I welcome John Vaccaro who will assume the mantle – and through his talent, ability and experience, will continue to grow MassMutual’s career agency system, making it the jewel of the industry.”
For more information about careers with MassMutual, visit www.massmutualcareers.com.
*Based on data from LIMRA as of September 30, 2009.
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