September 17, 2024
LIAM: Focus on Hispanic and Latin Americans
To celebrate Hispanic Heritage Month, let’s explore the growth and contributions of this vibrant community.
The 2023 Census shows…
The Hispanic or Latin population, which includes people of any race, was just over 65 million in 20231. The Hispanic or Latin population grew 1.8% from the previous year1, continuing a trend of significant growth.
Slightly more than half (51.1%) of the total U.S. population growth between 2010 and 2020 came from growth in the Hispanic or Latin population. This trend has continued, with the Hispanic or Latin population making up almost one-fifth (19.5%) of the U.S. population in 20232.
Do you have to be a member of the Hispanic community in order to serve it?
The answer is two-part:
- Must you be of Hispanic or Latin American descent? No.
- Must you be present and engaged in – a member of – their communities to be successful? Absolutely.
The Hispanic community believes it is very important to build a relationship with a financial professional. They prefer to work with someone who takes the time to get to know them, is visible in the community, and who provides proper education (versus transactional experience) and great service. Although this process may take some time, it also helps increase your chance of being recommended to family and friends – the community’s preferred method of making contact.
Want to know more?
Watch this dynamic conversation about the nuances of and buying power within the Hispanic and Latin American communities, how their unique characteristics and culture shape your interactions, and the magnitude of the opportunity they present within the financial services landscape.
Breaking Barriers and Understanding Buying Power within the Hispanic and Latin American Market
Access Passcode: WV#*4J4f
Sponsored by the Women’s Inclusion Network
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National Life offers a variety of in-language resources to support you, your recruits and your customers. Here are a few of our most popular pieces:
- Census: Lations Drove U.S. Population Increase in 2023,Axios, Jan 2024
- New Estimates Highlight Differences in Growth Between the U.S. Hispanic and Non-Hispanic Populations, United States Census Bureau, June 2024
