"Latinos in the Phoenix area understood the meaning of the 'American Dream' long before the term was coined," said Vlasta Duffy, general agent of MassMutual Arizona in Scottsdale. "As business owners, they put incredible pressure on their shoulders to succeed, not just for themselves, but for the good of their families. The good news is that many already know they want to transition their businesses to the next generation; they just need to understand the advantages of having a formal succession plan, the information and tools to help them improve their ability to reach that dream," she concluded.
"In our 40-year history, there has never been a greater economic or business need than now to build future Latino business leaders," said Manny Espinoza, ALPFA chief executive officer. ALPFA--a professional organization for Latinos in business, finance, accounting and related fields--is dedicated to enhancing career opportunities, as well as building leadership and professional skills.
"Future planning for Latino business owners in Phoenix is vitally important to ensure that this vibrant segment of the business community continues to grow and thrive into the next generations and further," said Gonzalo A. de la Melena, Jr., President and CEO, Arizona Hispanic Chamber of Commerce and panel moderator. "As the primary advocate for Latino-owned businesses statewide, the Arizona Hispanic Chamber is obligated to help provide financial education and tools for succession planning to the Latino business market to ensure the health and prosperity of the state and national economy."
For more information on MassMutual's Business Owner Perspectives study, log on to massmutual.com/bizownerperspectives. For Spanish-language information about MassMutual and its financial professionals, visit massmutual.com/espanol.
Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. The company has a long history of financial strength and strong performance, and although dividends are not guaranteed, MassMutual has paid dividends to eligible participating policyholders consistently since the 1860s. With whole life insurance as its foundation, MassMutual provides products to help meet the financial needs of clients, such as life insurance, disability income insurance, long term care insurance, retirement/401(k) plan services, and annuities. In addition, the company's strong and growing network of financial professionals helps clients make good financial decisions for the long-term.
MassMutual Financial Group is a marketing name for Massachusetts Mutual Life Insurance Company (MassMutual) and its affiliated companies and sales representatives. MassMutual is headquartered in Springfield, Massachusetts and its major affiliates include: Babson Capital Management LLC; Baring Asset Management Limited; Cornerstone Real Estate Advisers LLC; The First Mercantile Trust Company; MassMutual International LLC; MML Investors Services, LLC, Member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.
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*Metro Monitor - December 2012, Brookings Institution.
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