Advisory Board Example

MassMutual Financial Group

Goal: MMFG Women’s Advisory Board’s mission was to:

• Build relations with women opinion leaders in selected communities across the United States

• Establish a reputation for providing innovative programs focusing on women and girls

• Emphasize the career opportunities at the company and encourage referrals to assist in recruiting more female agents/advisors

• Help women become more financially independent by having a solid financial plan backed by a portfolio of products designed to fit their needs

Initial Steps

• Create a list of five community-oriented, influential and well-connected women to be the potential chair for each WAB

• Schedule a day with the general agent to interview the five women

• Provide a binder to the general agent and one for the new chair

• Generate a list of potential women for each Women's Advisory Board (WAB) that would represent the cremè de le cremè of women's organizational leaders as well as corporate executives, women business owners and community advocates that will be given to the chair once she is selected

Next Steps

• Have the general agent schedule a meeting with the new chair

• Work with the chair to select a board of 20-25 women in the community

• Set meeting dates and agenda for the first meeting

• Select 2-3 women agents to be on the WAB

• Develop goals for the first year's meetings

• Enhance visibility for MMFG general agents and their agents within the community

Examples of Women Involved in the MMFG Women's Advisory Boards

• Executive Directors of prestigious nonprofit organizations in the community, such as Women's Foundations, Girl Scout Councils, YWCA

• Award winners, such as Business Woman of the Year, Entrepreneur of the Year, The Athena Award

• Officials in various Chambers of Commerce

• Presidents of women's and girls organizations, such as National Association of Women Business Owners, Commission on Status of Women

• High-level corporate executives

• Heads of departments at large hospitals, banks or universities

• Community volunteers

WAB Results / Highlights

GAs and agents have become much more involved in local, civic, and professional organizations

Received numerous referrals and recruited several women agents

Sold several policies/developing cases, retirement plans, etc. for corporate, divorced and ethnic women

Able to penetrate ethnic communities

• Two male Hispanic agents made a presentation to 100 people in the Hispanic community as a result of arrangements by a Board member

• Introduced to 8 additional Hispanic organizations for educational seminars and sales opportunities

• Presented workshops to Asian Chamber of Commerce

• Met top Asian community leaders

• Sponsored one of Asian American Lead's events

• Had several potential Asian recruits and clients as a result of involvement with the Asian Chamber and the WAB

Involved in community functions

• Agents joined and are participating in several new civic and professional organizations

• Agents involved in 300 person Family Day sponsored by Urban League; introducing LifeBridge program

• Helping to solidify LifeBridge referrals, applications and meeting arrangements

• Many invitations to other organizational meetings that are having a snowball effect

• Product seminars to executive women and women business owners on LTC, retirement, etc.

• Took bus loads of girls and women to see Game Face exhibit

• Sponsoring community events such as Memory Walk, Women's Foundation study on Women and Girls

• Forming strategic alliances with corporations, banks, nonprofits, academic and government

Reached out to educational institutions and financial literacy

• Two agents working in the school system with teachers for TSA, disability and life planning

• Agent working with educational fund in state capital

• Game Face curriculum kits given to some local educators, as well as contacts for summer camps

• Presented seminars to St. Francis Hospital's Women's Service Department; Baby University, the WABs themselves, churches, Women's Lifestyle Show, Women in Management, etc.

• Policies sold as result of seminars

Received recognition, awards and visibility

• Excellent public relations tool with several mentions in various publications

• Media attention from LifeBridge and YWCA award

• Named Business Woman of the Year by Asian Chamber

• Won NAWBO Business Woman of the Year award

• In MassMutual brochure, publications

• Reaching out to surrounding areas

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