What Ongoing Education Looks Like at Farm Bureau
February 9, 2022
As with most industries, the financial world is ever evolving. To be successful, Wealth Management Advisors need to be current on regulatory updates, learn the latest technology and adapt to changing client demographics. This is true for advisors who are just starting out, as well as those who’ve built an established book of business.
To help ensure Wealth Management Advisors are prepared for any challenge, Farm Bureau offers year-round training and personalized mentoring.
“Our advisors can take advantage of ongoing education as often as they’d like,” says Mike Schultz, a Senior Wealth Management Training Consultant based in Farm Bureau’s home office. “You can never get enough knowledge no matter how long you’ve been in the business.”
For insight into what continuing education looks like at Farm Bureau, we asked Schultz to share the five educational tools that Farm Bureau offers advisors.
Ongoing Education Tool: Software and Systems Training
“My role is to help facilitate wealth management training, which includes on-boarding for new advisors and refresher training for advisors who’ve been with us for years,” Schultz explains.
The most popular of these is the training on the financial planning software MoneyGuidePro. “A lot of our advisors see the benefits to staying up to date with all the features this software offers,” Schultz says.
Other monthly software and systems training includes:
- Training for Riskalyze, a platform that provides tools for analyzing investment risk, delivering 401 plans and building and implementing investment portfolios
- Training for the new RBC system for opening and servicing accounts
- Sales processing and internal systems training
Ongoing Education Tool: Industry Newsletter
Farm Bureau sends out an e-newsletter to all advisors called the “Wealth Management Minute.” The content covers a variety of industry topics and trends, such as client management tips, market news and business growth strategies, plus a list of all upcoming trainings. “To sign up for one of the ongoing education sessions, an advisor can simply click a link to join,” Schultz says.
Ongoing Education Tool: Sales and Industry Conferences
Farm Bureau hosts two conferences a year: a sales conference that comprises Farm Bureau agents and advisors and a financial advisor conference.
Both events feature external lecturers who share insight and expertise on themed topics. For example, the 2021 financial advisor conference focused on the client portfolio review process. “At the conferences, we try to focus on knowledge areas where we know we need emphasis,” Schultz says.
Another benefit of these annual gatherings, adds Schultz, is advisors and agents get the chance to learn from each other, providing greater context for how they approach their business.
Ongoing Education Tool: Webinars
Each month, Farm Bureau hosts a topic-based webinar. Past topics have included understanding annuities as an asset class, sales strategies and a deep dive into all things life insurance. “Our Wealth Management Advisors find these to be a really useful tool to help grow their product knowledge,” Schultz says.
Ongoing Education Tool: One-on-One Mentoring
Farm Bureau believes in giving advisors personalized resources, not only from a training standpoint, but also from its in-house offerings.
“I do a lot of one-on-one coaching with advisors,” Schultz says. “They can reach out to me with questions at any time. It’s not just me doing a scheduled training and then I’m off limits — I’m here for personalized support.
“The personal touch is what elevates Farm Bureau from the rest of the pack,” he adds. “A lot of companies leave advisors on their own to find out information, but we are hands-on from start to finish.”
Farm Bureau provides the resources and support you need to achieve personal and professional growth in the wealth management industry. To join our team, contact us today.