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Research reveals gap in serving Hispanic owners

Hispanic small-business owners, who believe in overwhelming numbers in the importance of consulting a financial advisor, find themselves deeply underserved when it comes to help from advisors of any ethnic makeup, according to a new survey.

As many as 81 percent of Hispanic small-business owners think it is important to meet with a financial advisor, but only 42 percent say they have an established relationship with an agent, the New York Life survey found.

Six in 10 Hispanic small-business owners have not been approached by a financial advisor and as a result, four in 10 lack life insurance coverage or any estate planning. Almost 30 percent have no retirement plan, the survey of 151 Hispanic business owners found. READ MORE AT INSURANCENEWSNET.COM

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