San Francisco Bay Area Insurance Agency Adviser Earns Certification as Family Business Specialist
- December 8, 2010
The San Francisco Bay Area Insurance Agency, general agency of Massachusetts Mutual Life Insurance Company (MassMutual), today announced that financial adviser David Grodin has earned the Certified Family Business Specialist (CFBS) designation. This designation indicates that an adviser is specially trained to help address the unique dynamics of family businesses.
With a series of courses offered by the American College in Bryn Mawr, PA, the Certified Family Business Specialist program is set up exclusively for MassMutual financial professionals to teach the intricacies of family business succession planning, related estate tax considerations and how to deal with such issues as family-owned businesses and estate equalization.
"This is an extremely important area for small business owners to deal with, but most often it is not addressed," said Grodin. "It is a shock to realize that only 30 percent of family businesses make it to the second generation and that is usually because business owners don't plan. I want to help business owners do what they need to do so they can pass on their business to the next generation and avoid estate tax issues."
Grodin will use this certification to reach out to the many family-owned businesses in the East Bay. He explained, "The issues that arise in a family business are very complex -- spanning the emotions and the finances. It's an intricate process to help owners determine strategies for passing on the business and taking into account what the children want and need going forward."
Grodin started as a financial professional with MassMutual in 2007 and was awarded the prestigious MassMutual "Freshman Five" award in 2008 for his outstanding performance during his first year as a financial services agent. The highly competitive award is given to only the 5 best-performing agents out of the approximately 1000 first year associates in MassMutual's 86 national offices.
Grodin has an MBA in finance from Cal State East Bay and a BA in accounting. He has joined with his mother to provide financial services to businesses in San Leandro.
"This CFBS designation shows David's commitment and dedication to helping small business owners understand and execute the appropriate strategies so their businesses will continue to live on," said Robert Fakhimi, CEO and Managing Partner, San Francisco Bay Area Insurance Agency. "David will now be able to help small businesses to understand the issues and be prepared for the future."
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