Serving our community for the best interest of your future.
New York Life has long offered its agents a career with significant growth potential—a career in which a person can satiate their entrepreneurial spirit, while being supported by the strength of a Fortune 100 company.
Increasingly, this opportunity is appealing to many naturalized and first-generation Americans, who are rapidly filling the ranks of the company’s Cultural Markets—a subset of agents that are committed to helping individuals in their cultural communities plan for retirement and protect the financial futures of loved ones.
The ever-growing importance of these Cultural Market agents was highlighted on July 10 when newly elected New York Life President John Kim traveled to the Los Angeles General Office to speak to the office’s Korean Market agents, their clients, and delegates of the greater Los Angeles Korean community.
Kim, a Korean-American and first minority president of New York Life, referred to not only himself, but to the strength of the agents in the room as an example of the company’s willingness to embrace diversity.
“I am proud to be leading a company that not only says the right things about diversity, but puts those beliefs into practice,’ Kim says. “Our Cultural Market efforts have been so successful that we will continue to grow this business model.”
The Los Angeles office is a shining example of the impact one of New York Life’s Cultural Markets can have on a community. The office’s approximately 80 Korean Market agents are responsible for protecting 2,273 lives in 2014 and placing approximately $4.7 billion worth of life insurance death benefits within the greater Los Angeles Korean community.
“We are connected to the largest Korean population in the country. It makes sense for us to help the Korean community with its life insurance, retirement and financial needs,” says Jerry Fish, Managing Partner of the Los Angeles office. It’s not just proximity that makes New York Life and the Korean community a good fit, it’s the values both embrace.
“The career is well suited because people in the Korean community work hard and are very entrepreneurial. It allows them to be in business for themselves, but not by themselves.” Fish says. “From a product standpoint, we provide what most other financial institutions don’t—guarantees and tax advantages. Tax efficient products that offer guarantees resonate with the Korean community and other Asian communities.”
The flexibility of a career with as a New York Life agent is also something that resonates, particularly with women in the Korean community. Nearly 50 percent of the Korean agents in the Los Angeles office are women, according to Fish.
New York Life and Korean entrepreneurs across the United States are well positioned to meet the needs of one-another by serving the financial needs of their respective communities. “New York Life is committed to serving your needs—past, present, and in the future,” Kim says.
“Koreans have a history of being great business people. I am very optimistic regarding the success of this generation of Korean-American professionals. I look forward to building and growing with them over the next five to 10 years.”