Fourteen financial services professionals with MassMutual Carolinas – a general agency of Massachusetts Mutual Life Insurance Company (MassMutual) – have earned the Certified Family Business Specialist (CFBS) designation.

In addition to Tim Flanagan, CLU, ChFC, ChSNC, CFP, president of MassMutual Carolinas, 13 other financial advisors within his agency received the CFBS designation: Tim Bartolomeo; Lee Bowman; Ryan Donaghy, ChFC; Michael Ealey; Jason Goldy, ChFC; Steve Krasnipol, CFP, CLU, ChFC, CAP, ChSNC; Ellen Linares, ChFC, CLU, ChSNC; Dr. Scott McDonald; Matt Pawlowski; Ryan Platt, MBA, ChFC, ChSNC; Reggie Randolph; Marc Shepherd; and Hunter Widener, CFP.

The additional training will help these financial professionals identify the needs of the Carolinas’ 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).

This designation is offered solely for MassMutual financial professionals, through a rigorous educational program at The American College in Bryn Mawr, Pa. 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

“Completing this course gives these members of my team and me a greater understanding of the financial needs of family business owners,” said Flanagan.“It is very rewarding to know that there is a strong group of us who have the ability to educate our clients on the importance of business succession and retirement planning and guide them towards achieving their goals.”

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)

About MassMutual Carolinas

MassMutual Carolinas specializes in a broad spectrum of financial services that enables the firm to offer comprehensive strategies to individuals, families and businesses for risk management, asset allocation, estate planning, cash flow and wealth accumulation.

Securities, investment advisory and financial planning services are offered through qualified registered representatives of MML Investors Services, LLC, Member SIPC. 6000 Fairview Road, Suite 400, Charlotte, NC 28210. (704) 557-9600. The firm serves clients in North and South Carolina. More information is available at https://carolinas.massmutual.com/.

Founded in 1851, Massachusetts Mutual Life Insurance Company (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 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.