Massachusetts Mutual Life Insurance Company (MassMutual), a leading mutual life insurance company, and the National Minority Supplier Development Council (NMSDC), America’s most influential and successful minority business development organization, are entering into a partnership to certify Black financial professionals affiliated with MassMutual as minority business enterprises (MBEs).
NMSDC has made a tremendous impact on MBEs and has been at the forefront of creating economic opportunities for communities of color for 50 years. NMSDC-certified minority-owned businesses generate over $400 Billion in annual economic output and have created and sustained $2.2 million jobs, according to NMSDC records[i].
The recruitment and retention of MBEs in the professional services industry creates the pipeline for wealth creation by introducing non-traditional businesses to a national network of potential procurement and partnership opportunities.
MassMutual has committed to providing grants covering the cost of certification up to $500 for over 100 financial professionals affiliated with MassMutual.
“We are committed to not only growing our diverse supplier population, but also investing in them, which is why we are thrilled to create this partnership with the NMSDC to offer certification to financial professionals affiliated with MassMutual,” said April Cimorelli, Supplier Diversity Manager MassMutual. “NMSDC certification is the platinum standard in supplier diversity and yields significant benefits for those who meet its standards.”
Once certification is obtained, the financial advisors will have access to:
- Business Leads
- University partner executive training programs
- NMSDC Academy
- Emerging Young Entrepreneurs (EYE) program
- Networking events, workshops, and seminars hosted at NMSDC’s annual national conference and throughout the year
”As we celebrate our 50th anniversary, we have set our aspirational goal of achieving $1 trillion annual revenue for NMSDC certified MBEs.” said Ying McGuire, CEO and President of NMSDC. “To achieve this goal, we need corporate members like MassMutual with their active participation in NMSDC and innovative initiatives that will discover and utilize a new generation of MBEs. Together, we will continue to create generational wealth in communities of color while on our journey to $1 trillion.”
The program is set to launch in select markets beginning in April 2022.
MassMutual is a leading mutual life insurance company that is run for the benefit of its members and participating policyowners. Founded in 1851, the company has been continually guided by one consistent purpose: we help people secure their future and protect the ones they love. With a focus on delivering long-term value, MassMutual offers a wide range of protection, accumulation, wealth management and retirement products and services. For more information, visit www.massmutual.com.
[i] Facts and figures. https://nmsdc.org/. (n.d.). Retrieved March 21, 2022, from https://nmsdc.org/wp-content/uploads/2020/08/Facts-and-Figures-08.23.20.pdf