Million Dollar Round Table

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The Million Dollar Round Table, abbreviated MDRT is a trade association formed in 1927 to help insurance salespeople and financial advisors improve their business practices and increase sales. The name comes from the fact that the founders had each logged sales of more than $1,000,000 in the year the organization was formed. They focus on improving technical knowledge and selling ability as well as maintaining ethical standards in an oft-maligned industry. Their programs and philosophies are one of the early forbears and focus on personal and professional development of their members, while enforcing a strict code of ethics.

MDRT promotes the "Whole Person" (formerly "Whole Man") concept, which was first presented to MDRT by the philosopher Mortimer Adler. According to Adler, "Whole Persons are engaged in a lifetime quest to achieve balance and congruity in all aspects of their lives and continually seek to develop their full human potential.” The seven areas balanced by a "Whole Person" are family, health, education, career, service, financial and spiritual.

Despite this, the requirements for joining the MDRT are based on an ever-increasing, annual production requirement and adherence to a strict code of ethics. To be eligible for a basic membership in 2007, for example, an applicant must meet a production goal of $75,700 in commissions in 2006. To qualify for the highest tier of membership requires the collection of $454,200 in commissions.^[1] As of 2006 the organization has more than 32,000 members in 74 countries and territories.^[2]