Southeast Interns Continue to Excel with Northwestern Mutual Financial Network
CAPE GIRARDEAU, Mo., Oct. 2, 2007 – Southeast Missouri State University Harrison College of Business students continue to excel as interns at Northwestern Mutual Financial Network. Recently, two Southeast students were nationally recognized for their outstanding work.
Ryan Griggs and Tyler Stevens are currently interning with Northwestern Mutual Financial Network - The Hahs Group in Cape Girardeau. They are both recipients of the national Power of 10 award that recognizes those interns that have written a minimum of 10 life insurance policies during Northwestern Mutual’s awards year that runs from May to May. Griggs qualified for the 2006-2007 year, and Stevens has already qualified for the 2007-2008 award year.
Griggs, of Sikeston, Mo., is a corporate communication major and is expecting to graduate next May. He has been with The Hahs Group since January and has written a total of 15 life insurance policies.
Stevens, of Perryville, Mo., is a marketing management major and is expecting to graduate from Southeast in fall 2008. Since the intern competition began in June, Stevens has placed 48th out of more than 2,000 interns nationally in the Financial Representative Intern Competition for the 2007-2008 Award Year. He began his internship in June and has already written 12.5 new life insurance policies in just three months.
“Their success has a lot to do with who they are as individuals and the fact that they are both from around this area,” said Casey Hertenstein, director of recruiting for The Hahs Group. “When you are responsible for choosing your own clients as these students are doing, it’s easier to seek out families, professionals and businesses that you already know.”
College students participating in the Financial Representative Internship Program in Northwestern Mutual offices nationwide also represent their university as part of a college team competition. The Southeast Missouri State University team ended the year ranking 18th of 250 teams.
“The quality of students we get from Southeast is amazing,” Hertenstein says. “We are extremely selective on who is invited to join our internship program. Nationally, 20,000 college students apply, and only 2,000 to 2,300 are accepted. We have been very fortunate to have this university right here in Cape Girardeau.”
Dr. Gerald McDougall, dean of the Donald L. Harrison College of Business, says the Harrison College of Business is establishing the best undergraduate business program in Missouri.
"One contributing factor is having an outstanding internship program with outstanding Harrison business students," he said. "The Northwestern Mutual Financial Network internship program is consistently ranked among the top 100 internship programs in the nation. The success of our students in this highly regarded internship program speaks to the high quality of Harrison business students and the impact of our personal, professional and practical environment on student learning and the development of an ethical foundation and the behaviors and attitudes that lead to professional success."
An internship with Northwestern Mutual Financial Network is a very selective position. Students applying for internships go through the same rigorous and lengthy selection process as a person applying for a full-time representative position at Northwestern Mutual.
“Typically, there are three to four interviews before an offer is even made,” Hertenstein says.
At the Hahs Group, the initial interview is with Hertenstein. Next, two personality tests are administered. Assuming Northwestern Mutual Financial Network is still interested, a second interview is conducted by Ron Hahs, managing director. Then, potential interns are challenged to go and talk with potential clients as a way to “test drive” the internship before they are even offered the position. A third interview is conducted as a way to debrief the test drive, and finally, an internship offer is made to the chosen candidate or candidates.
Before the internship even begins, new interns must take a class and pass the Missouri State Life and Health Insurance Exam. They also are required to submit to a lengthy background check put in place by Northwestern as a way to guarantee the company and its clients that the best are being hired.
“By passing this exam and completing the background check, they [interns] are allowed to legally sell our products,” said Hertenstein.
The students attend internship training in St. Louis for a week, given by the most successful full-time representatives and management. After the interviews, tests and training, the new interns are finally prepped for their first official day at Northwestern Mutual Financial Network.
Each intern is initially challenged to meet a common goal, referred to as the “Power of 10.” To meet the “Power of 10” goal, interns must write 10 new life insurance policies within a year.
“Our home office in Milwaukee studied overall intern production and realized that our most successful interns had written 10 or more lives [insurance policies] in one year, and therefore, it became an expectation,” said Hertenstein.
This fall, however, a new goal has been introduced nationally and is referred to as “Target 20.” This goal is an even larger challenge and encourages the writing of 20 new life insurance policies in one year.
“Since 10 percent of our interns qualify for “Power of 10” nationally, this will be an even bigger expectation for our most competitive interns,” Hertenstein says.
Hertenstein said the Northwestern Mutual Financial Representative Internship Program has been ranked as one of “America’s Top 10 Internships” across all industries for 12 straight years according to the Value Guide to Internships, 2008 edition.
“It’s less about selling product than developing people,” Hertenstein said. “We value quality above quantity and aim to develop our students personally and professionally. That means that interns build real business experience including scheduling their own appointments and helping their clients build secure financial future,” she said.
The Hahs Group also was honored at the awards program for ranking 14th among 250 Northwestern Mutual Financial Network district offices nationwide.
Full-time financial representatives and college interns at the Hahs Group in Cape Girardeau are directed under the leadership of Managing Director Ron Hahs, CLU, ChFC. Currently, there are seven interns working under his direction and they are all representing Southeast.
Northwestern Mutual Financial Network, the marketing name for the sales and distribution arm of Northwestern Mutual, provides expert guidance on insurance, investment products and services, retirement and estate planning, education funding and employee benefits. Based in Milwaukee, Wis., Northwestern Mutual, its subsidiaries and affiliates provide annuities, mutual funds, long-term care insurance and disability income insurance.
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