Happy Advisors Are Part of Something Bigger: Tim Gerend

He sees investing in advisor technology as one way a company looking for great advisors can stand out.

Great advisors want efficient systems they can use to analyze the clients' needs, communicate with the clients and support clients who are having problems, he said.

4. The pandemic may have nudged conditions in life insurers' favor.

"People are looking for a career with a purpose," Gerend said.

For a Northwestern Mutual advisor, the purpose is to persuade clients to take action to make themselves financially secure, he added.

The pandemic may have also changed clients' thinking in ways that can make an advisor's role more interesting.

Immediately after the pandemic started, "people were aware of their own mortality," Gerend said.

Later, he said, clients began to think more carefully about their priorities.

"People thought about where they were living and where they were working," he said. "People were much more aware of the importance of long-term planning."

5. Knowing what the company does can improve outcomes.

New agents sometimes complain on web forums that managers at the life insurers that still have career agent systems simply raid their lists of friends and relatives for good prospects.

A company can reduce the odds that new agents will feel used by providing great training, providing a generally supportive environment and supporting diversity in recruiting with genuine inclusiveness, Gerend said.

"We want people to come here and stay and thrive," he said.

Gerend also emphasized the need for transparency.

"It's really important to be honest and set expectations up front," he said.

He said another critical part of building resilience is making sure new agents understand how their work and Northwestern Mutual's work can help the clients.

For advisors, working for Northwestern Mutual "is an incredible opportunity," Gerend said. "They're part of something bigger."

Tim Gerend. Credit: Northwestern Mutual