FFR Into the Future

During our recent Spring Symposium, I had the opportunity to address how First Financial Resources is preparing to face new frontiers in our rapidly changing industry.

As we begin a fresh chapter in FFR’s history, I would like to share an overview of my Symposium presentation and the promises made about our organization, which will serve as a guiding light moving forward. ?

First Financial Resources Today

This year marks our 35th year of business. For most of the past year, we have gone through a period of transition that has come with hard choices. ?

However, I am happy to say we are moving out of this period and into a new era of rebuilding and growth. In fact, we closed 2021 with record-breaking numbers in membership and production growth – including a 30% production increase over 2020.?

Today, FFR is not only the oldest 100% Member-owned life insurance group; we are now the only one. That means our competition is not with other producer groups.

Our competition is with yesterday.

We cannot merely rest on our laurels. If we stay in one place as an organization, we will fall behind. To meet the moment, we have developed a strategic plan for building resources and growing as an organization.

Industry Trends

Our plan is directly informed by key trends driving our industry today:

• Private equity disruption. We are seeing an influx of private equity into the life insurance space that is already leading to major disruption.
• Accelerated pace of play. For likely the first time ever, our industry is in hyperdrive – with demand higher than ever, more products being introduced, and new technologies changing how insurance is delivered.
• Regulatory changes. Laws and regulations that have been the same for decades are now undergoing numerous changes.

Building for the Future

With these industry trends in mind, FFR is building a strong foundation for the future that will power the success of our Members. Key to our strategic plan is growing our resources and our industry partnerships.

Resource Growth

We are investing in a broad array of people- and technology-based resources that will help our Members navigate these new frontiers.???

• Expertise. We are building out our team of experts dedicated to Member success. We will continue making significant investments to empower your success
• Technology. As the pace of play accelerates, we will make sure our Members are empowered with the right technology tools and resources.
• Networking. We are building out more events where our Members can connect with their peers, industry experts, and FFR partners. Our Study Groups have continued expanding, and we are committed to making these groups as valuable as possible.

Partnership Growth

Providing best-in-breed resources leads to another important aspect of our future success: growing our relationships with carrier and resource partners.

• No matter the technology, this will always be a relationship-forward business, and we must invest in our core relationships.
• We’re raising awareness about FFR and our Members among key industry players. We are ready to sit at the table and work out beneficial partnerships for all stakeholders.??

Strategic Growth

It’s important to recognize that FFR is not growing for the sake of growing. We are mapping out a highly strategic growth plan because we must. We cannot survive as an organization by keeping the status quo.

We have only two choices: we get disrupted or we disrupt.

As we move forward into this new era, what will not change about FFR are the core values that set us apart: we believe in independence, transparency, and best-in-class-resources.

My Commitment as CEO

I am honored to lead First Financial Resources into the future and to uphold this organization’s simple promise: powering the success of our Members by giving full independence and control over how they run their own business.

In order to keep you up to date on how we are fulfilling our promises, I will regularly communicate with you via this ‘FFR Into the Future’ series. Be on the lookout for continued communications about FFR and the progress we are making as an organization.