Workers expect their defined contribution plans to play a greater role in their retirement income than annuities.
NEW YORK, January 28, 2014 – New York Life announced that the company hired 3,460 full-time agents last year, continuing its strong trend of hiring over the past several years. Since 2007 the company has recorded 9.4 percent growth of its agent force. It seeks to hire 3,600 financial professionals in 2014, with more than half to be women or individuals who represent the cultural markets.
“New York Life continues to be successful in hiring individuals from various backgrounds, especially those seeking a career change. We are proud to reflect the diverse communities in which we serve,” said Rich Simonetti, senior vice president of field recruiting and development at New York Life.
In 2013, 62 percent of New York Life’s new hires in the field were women or individuals who represent the cultural markets. The company expects similar results in 2014 as it continues its long commitment to hiring and supporting women and individuals serving the African-American, Chinese, Hispanic, Korean, South Asian, and Vietnamese markets in the United States. Agents serving the cultural markets accounted for 46 percent of the company’s new life insurance sales in 2013.
“New York Life has been recognized as an employer of choice for its strong commitment to women and individuals who represent cultural markets by top outlets including Working Mother magazine, LATINAStyle magazine, DiversityBusiness.com, Women For Hire, Hispanic Business, and the National Association for Female Executives (NAFE),” added Mr. Simonetti. “The company is also proud to be recognized for its broader commitment to its employees with recognitions from CAREERS & the disABLED magazine as a ‘Top 50 Employer’; Dave Thomas Foundation for Adoption’s 100 Best Adoption-Friendly Workplaces List; and Work Life Matters magazine’s ‘Top Company for LGBT Equality’.”
Mr. Simonetti noted that New York Life led new agent membership in the Million Dollar Round Table (MDRT) in the United States for the 59th consecutive year in 2013. Membership in MDRT is a distinguishing life insurance career milestone for those demonstrating superior professional knowledge, experience, client service and sales achievement. In addition, New York Life led female membership in the United States, accounting for 29 percent of the 1,180 female MDRT members, more than three times the number of women members employed by the second place company.
“New agents are pleased to find they are supported by full-time managers and trainers in every office and by product specialists across the country. The company continues to invest significantly in training new and experienced agents, with the ultimate goal being to best serve the financial needs of Americans in the middle income, upper income and high net worth markets,” added Mr. Simonetti.