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March 25, 2013 /PRNewswire/ -- Massachusetts Life Insurance Company (MassMutual) and the Asian-American Hotel Owners Association (AAHOA) have joined forces to help the fast-growing number of Asian-Indian hotel owners and their families make good financial decisions for a more secure future. MassMutual's continued focus on providing much-needed financial education to the Asian-Indian community will be bolstered by its relationship with AAHOA, an organization dedicated to promoting and protecting the interests of its members by inspiring excellence through programs and initiatives in advocacy, industry leadership, professional development, and community involvement.
"The phenomenal growth in the number of the Asian-Indian hotel owners, combined with the country's slowly recovering economic climate, makes it critical for this community to work towards greater financial security for the businesses and their families," said
Nimesh Trivedi, appointed head of Asian-Indian market development for MassMutual's U.S. Insurance Group. "AAHOA is a natural partner for us because it is on the front lines of providing Asian-Indian hoteliers with the skills and knowledge to help them to sustain and grow their businesses now and into the next generation," he said.
"We are pleased to be a part of the AAHOA conference to provide valuable education to the members. For example, business owners must consider putting into place a strong exit strategy, to ensure that they can transform all of their hard work and investment into meeting their goals, whether those goals are to pass the business on to the next generation or to sell it to fund a comfortable retirement," said
Lalit Jallan, sales manager at MassMutual Greater Houston and a scheduled panelist at the conference to discuss exit strategies for business owners. "Waiting until the last minute could mean that the successor may not be prepared to take over the business or that an ideal selling price may not be obtainable," he added.
The sponsorship of the 2013 AAHOA Annual Convention & Trade Show is a key component of MassMutual's support of the Asian-Indian market and goal to help families and business owners plan for their and their families' futures. MassMutual commissioned research on Asian Indian families and business owners to better understand the financial challenges that this community faces and identify what is most important to them. A new State of the American Family research study, currently in process, will take an in-depth look at Asian-Indian families and their attitudes toward and plans for their finances in the delicate economy in the immediate aftermath of the Great Recession. Results of the research will be released later this year.