One of the biggest challenges in our profession is describing to prospects and new clients our commitment to operating in an ethical and upstanding manner. The MDRT Code of Ethics can be leveraged to effectively communicate the value and standards MDRT members bring to the client. We have gathered some suggestions on talking to clients about ethical practices, arranged by the specific tenets of our Code of Ethics. Have these scripts ready for your next discussion.
Always place the best interests of your clients above your own direct or indirect interests.
“We have a firm (practice, agency, business) that we are proud of because we build our client’s financial home with the same care we would our own. How do we do this? By always putting your needs first.”
—John J. Demboski, CFP, Santa Barbara, California, 15-year member
Maintain the highest standards of professional competence by seeking to maintain and improve professional knowledge, skills and competence.
“We strive to provide current, timely and accurate information through continual education as demonstrated by our qualification in the Million Dollar Round Table.”
—Tse Lap Yee Stanley, Hong Kong, China, 25-year member
Hold in strictest confidence, and consider as privileged, all business and personal information pertaining to your clients’ affairs.
“Confidentiality is important. We consider it a privilege to guard your personal information and hold your family's dreams close to our hearts.”
—Julianne Hertel, CLTC, Worcester, Massachusetts, 5-year member
Make full and adequate disclosure of all facts necessary to enable clients to make informed decisions.
“There is so much financial information out there that it can be overwhelming. What we do is educate so you feel empowered to make the best decisions for your family.”
—Sofia Dumansky, MBA, LUTCF, Windsor, Connecticut, 8-year member
Maintain personal conduct which will reflect favorably on the insurance and financial services profession and the Million Dollar Round Table.
“We serve our clients with integrity. This reflects positively on ourselves, our agency, our industry and our fellow MDRT members. Our goal is to make you proud of us.”
—Travis D. Manning, CFP, CLU, Caledonia, Ontario, Canada, 11-year member
Determine that any replacement of an insurance or financial product must be beneficial for the client.
“Throughout the course of our relationship, your dreams will likely change. Our goal is to give our clients the best possible advice that will give them peace, comfort and dignity in the future.”
—Cheng Huann Yeoh, ChFC, CLU, Singapore, 8-year member
Abide by and conform to all provisions of the laws and regulations in the jurisdictions in which you do business.
“The rules and regulations of our industry are only the baseline. It’s our heartfelt moral commitment to being better that sets us apart. Our foundation is doing the right thing, always.”
—Rovelita M. Chuaunsu, Makati, Philippines, 22-year member
How do you make the MDRT Code of Ethics your own to share with your clients? Let us know on social media: #MDRTethics.