MassMutual agent earns professional designation in family business planning

11/01/2017

Syosset, NY – Edgar Montenegro, a financial services representative with the MassMutual Long Island Metro agency in Syosset, NY,  a Massachusetts Mutual Life Insurance Company's (MassMutual) general agency, has earned the Certified Family Business Specialist (CFBS) designation. The additional training will help Edgar Montenegro identify the needs of New York State’s growing number of family-run businesses with whom they work. The latest research shows that there are 5.5 million family businesses with employees in the U.S., accounting for slightly more than half of the Gross Domestic Product (GDP) and are responsible for more than three-quarters of all new job creation. (Family Enterprise USA (FEUSA). On the Minds of Family Enterprise Owners, 2013 Survey of Family Firms).

The CFBS program educates financial professionals to help:

  • Understand the emotional issues confronted by owners contemplating a transition of their business
  • Identify financial issues regarding succession planning
  • Recognize tax and financial considerations regarding transitioning the business
  • Offer benefit plans to help attract and retain top talent 

This achievement helps Edgar to provide services to family-owned and closely-held businesses regarding succession planning, family business dynamics and business protection products specifically tailored to the needs of these  business owners. Montenegro has earned this designation, offered solely for MassMutual financial professionals, through a rigorous educational program at The American College in Bryn Mawr, Pa. 

“I’m pleased to have completed this course with a greater understanding of the financial needs of family business owners,” said Edgar Montenegro MBA, CLTC, CFBS of Locust Valley, NY “It is very satisfying to know that I have the ability to educate my clients on the importance of business succession and retirement planning and guide them towards achieving their goals. The designation is regarded as a significant professional milestone, reflecting a commitment to business owners and their financial needs through continuing professional education.

Small businesses employ about half of U.S. workers. The 23 million small businesses in the United States (those having 500 or fewer employees):

  • Account for 54 percent of all U.S. sales.
  •  Provide 55 percent of all jobs and 66 percent of all net new jobs since the 1970s..
  • Added 8 million new jobs since 1990, even as big business eliminated 4 million.
  • Occupies 30-50 percent of all commercial space, an estimated 20-34 billion square feet.

(Small Business Administration Office of Communications & Public Liaison Resources)

Edgar Montenegro has been with MassMutual for two years, is a member of MDRT (Million Dollar Round Table) and was awarded a citation from the Town of Hempstead and recently recognized by The Westchester Hispanic Law Enforcement Association (WHLEA) for his contributions.  Montenegro received a degree in Finance from Fordham University, MBA from The University of Phoenix is currently attending SUNY Old Westbury to pursue his Masters of Science in Taxation and has completed several other industry related courses.

He is a member of Locust Valley Rotary and sits on the board of The Breadwinner’s Foundation.  He and his wife, Nicole, reside in Locust Valley with their five children.

Edgar Montenegro


About MassMutual

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 policyowners 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.

For more information, visit www.massmutual.com or find MassMutual on Facebook, Twitter, LinkedIn, YouTube, Google+ and Pinterest.

CRN201810-220727