SOURCE: SF Bay Area Insurance Agency

SF Bay Area Insurance Agency

December 08, 2010 13:49 ET

San Francisco Bay Area Insurance Agency Adviser Earns Certification as Family Business Specialist

WALNUT CREEK, CA--(Marketwire - 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." 

About the San Francisco Bay Area Insurance Agency LLC

With roots going back to 1891, the San Francisco Bay Area Insurance Agency LLC is a significant contributor to the local economy, as shown by the following figures about the San Francisco Bay Area Insurance Agency and its detached offices (as of December 31, 2009):

  • More than 36,000 policyholders and clients1
  • Managing over $896 million in assets (including assets and certain external investment funds managed by MassMutual and its subsidiaries)
  • More than $4.3 billion in life insurance face amount in force2
  • Will return more than $9.3 million in dividends to its participating policyholders in 20093

Robert Fakhimi is CEO and Managing Partner of the San Francisco Bay Area Insurance Agency LLC. Headquarters is in Walnut Creek and branch offices are located in San Francisco, Fremont and Milpitas. Mr. Fakhimi can be reached at 888-803-3631, ext. 320 or by e-mailing him at Securities and investment advisory services offered through qualified registered representatives of MML Investors Services, member SIPC, Inc. 2121 N. California Blvd. Suite 395 Walnut Creek, CA 94596 (925) 979-2300.

About MassMutual

Founded in 1851, MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyholders. 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 every year 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, Inc., member FINRA and SIPC; OppenheimerFunds, Inc.; and The MassMutual Trust Company, FSB.

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1 An insured, owner, or payer of a MassMutual policy or contract.
2 Amount of individual life insurance in force at the end of the period related to products issued by Massachusetts Mutual Life Insurance Company and its subsidiaries, C.M. Life Insurance Company and MML Baystate Life Insurance Company.
3 The amount of dividends to whole life policyholders in 2009.

Contact Information

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    Erica Zeidenberg