2019
Year in Review

2019
Year in Review

OUR MISSION

To inform, inspire, and compel with exceptional financial solutions designed to help our clients manage risk, create legacies, and acheive their goals.

Wes Thompson


Wes Thompson
President & Chief Executive Officer

Letter from the CEO

As we entered 2020, we never suspected a pandemic was about to disrupt our personal and professional lives and usher in unprecedented economic and societal changes.

M developed a Strategic Plan in 2018 to create innovative solutions that would provide competitive advantages and transform our industry. Throughout 2019, our focus was on building powerful tools and capabilities that will help define how M and Member Firms do business in 2020 and into the future.

The pain and dislocation brought on by COVID‑19 has been swift and momentous, but the crisis has had an unexpected outcome for M: It reinforced the soundness of our strategic vision and gave immediacy to our recent accomplishments.

Faced with the pandemic’s economic impact, we were armed with a financial operating model put in place over the past decade to support informed decision-making and manage profitable performance. Furthermore, the Strategic Plan has positioned us well to seize opportunities today that will advance our business and strengthen our competitive edge.

For example, social distancing is a long-term change that presents new possibilities for our business. It increases the need for timely, effective communications and opens the door to more virtual engagement with our clients, vendors, and colleagues through video conferencing services. It reduces the need for travel and allows more of our staff to work remotely, remaining productive and collaborative with less office space.

While personal interaction will always remain vitally important, the added value of virtual operational support allows us to blend M’s exceptional service with efficiencies of scale.

These changes rely heavily on technology, which aligns perfectly with M’s digital transformation. In 2019, we laid the groundwork for the 2020 launch of three major initiatives, Swift, Aperture, and Prism. These digital platforms promise to transform the client experience, create an e-marketing ecosystem, streamline the new business process, and efficiently capture and use client data.

With advanced technology and new sources of e‑data, our unique multi-carrier electronic underwriting system will become even more powerful. Our early adoption of automated underwriting, with its low‑touch approach to information gathering, will enable us to influence the life insurance industry’s emerging underwriting model in significant ways.

Digital transformation is only part of the story. Our Strategic Plan calls for a strong balance sheet, and M demonstrated exceptional financial strength last year. 2019 saw the highest distribution revenue in the company’s history. Our year-end balance sheet reflected the company’s stronger capital position and reduced debt. M’s continuing financial stability allows us to provide liquidity to Member Firms who may be facing a COVID‑19–related drop in revenue.

In 2019, our continuing emphasis on profitable growth prompted us to enter into a strategic relationship with PNC Financial Services Group. We are now the exclusive national provider of insurance solutions, advice, and service to PNC Wealth Management and Hawthorne, PNC Family Wealth clients. This will be the first of many such partnerships that expand M’s reach, drive new business, and increase sales revenue.

In the midst of dramatic crises, change, and uncertainty, there is one constant: our belief in M’s core values of innovation, excellence, collaboration, leadership, and client advocacy. These values underlie all our decisions and actions and will continue to guide us in the years to come.

I look forward to continuing our journey together.

 

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Contact

M Financial Group
1125 NW Couch Street,
Suite 900
Portland, OR 97209
800.656.6960