Prudential Leaders and 'Moneywise' Host Reflect on Findings from New Study
Prudential's benchmark study "The African American Financial Experience" is an informative account of African Americans' financial concerns, goals, dreams, and preferences. The study analyzes the collective views of these influential individuals and provides a perspective on the community as a whole. It also explores how the financial sector can better support this rapidly emerging middle-class and affluent demographic.
Highlights of Study
Senior Prudential leaders and "Moneywise" host discuss the significance of our study and the opportunity it creates to understand the approaches and solutions that can help African Americans achieve their financial goals.
Insight from Prudential
Two Prudential executives, Mark Hug and Ron Andrews, who were closely involved in the study and its analysis, offer their viewpoints on it:
"There's this optimism within the African American community that offers a great willingness to solve the financial challenges that exist. The financial services industry has a huge opportunity to help them achieve their dreams," says Mark Hug, vice president and chief marketing officer of Prudential's Individual Life Insurance.
"We're focused on all diverse markets. We want to be one of those organizations that diverse markets look to for help in achieving their financial goals," adds Ron Andrews, vice president and head of Prudential's Human Resources for U.S. businesses.
Insight from 'Moneywise' Host
Also closely connected with the study is the executive producer and host of "Moneywise." He helps educate the multicultural community on financial matters and is considered a leader in his field.
"With America's demographics rapidly changing, and an emerging African American middle class, understanding the financial concerns, information preferences, goals and dreams of this population is critical for financial institutions that wish to play a role in helping African Americans achieve their financial goals," says Kelvin Boston.
Hear more from Kelvin Boston about Prudential's Study.
For the African American study, 1,500 African Americans were polled in November 2010 by CR Market Surveys, a minority-owned firm based in Chicago.
For full results from the study, read "The African American Financial Experience"
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