Diego Verdugo ’12, one of the youngest managing directors at Principal Financial, gave back to Cornell recently by sharing his story on campus as the Beta Omicron Distinguished Alumni Visitor on March 27.
The Beta Omicron Distinguished Alumni Visitors Program provides an opportunity for accomplished Cornell College alumni to share their professional expertise and life journeys to help prepare students to become leaders of tomorrow. In the past, visitors have been chosen from a variety of backgrounds and careers. Verdugo, winner of the 2024 Young Alumni Achievement Award, gave a presentation titled “From Border Town to Block Plan to Community Leader: Taking a Financial ‘Selfie’ with Diego Verdugo ’12.”
Over the course of an hour, Verdugo covered everything from his upbringing to his success as a financial planner. He also provided advice on the building blocks of financial planning and ways to take advantage of Cornell’s opportunities.
Growing up in a bordertown, first on the Mexican side of the border until he was nine and then on the Arizona side of the border after that, made it obvious to Verdugo that if he wanted to impact the future of his family, college needed to be a part of his plans. Cornell provided two things he needed: a small size and a good financial aid package. When he arrived at Cornell, two days early with only $60, a bag of frozen tamales, and two bags of luggage, he quickly discovered that Cornell was much more than checking a box on the way to a better future.
“I had a tremendous experience at Cornell,” Verdugo said during his lecture on campus. “I had opportunities that I never would have imagined having.”
Junior Michael Ossai ’26, came to the talk because the Berry Career Institute had connected him with Verdugo while looking for internships.
“His story is a really powerful, inspiring one. He’s been able to make a lot happen for himself in a relatively short amount of time. That’s something I aspire to do myself.” Ossai said. “I just wanted to hear how he’s done what he’s done. And I was not disappointed at all.”
Verdugo encouraged students at the event to take advantage of the opportunities around them. Joining organizations at Cornell was key for him to develop leadership skills and a support system that have carried him throughout his life after Cornell.
“That’s exactly what Cornell will do for you,” Verdugo said. “You meet your brothers here. You meet your sisters here. You meet some of your best friends here. Some people even get married while at Cornell. You are at a place that is very different from the rest of the higher education world, so take advantage of that.”
As he approached the end of his senior year, Verdugo applied for a competitive program at Principal Financial. There were over 400 applicants, only ten of which made the final round. In the end, Verdugo was one of only two who were hired. Verdugo says Principal was interested in things like problem-solving, resilience, efficiency, and motivation, rather than a specific knowledge of economics or finance.
“It’s not about what you know, it’s about what you end up doing with what you know,” he said.
In the course of the fifteen years since he landed at Principal, Verdugo has had roles in sales, service, marketing, consulting, and management, working in all four business units, including one of its overseas operations in Chile.
These experiences have turned him into a dedicated financial professional–with a goal to stick with his clients for their entire life journey, not just one transaction.
“Those who fail to plan, plan to fail,” Verdugo said.
His suggestions for students building the foundation of their financial plans?
1. Emergency savings account: An emergency fund of 6 months worth of fixed expenses, used only in the case of financial emergencies everyone will face in their lifetime, to keep you from having to rely on debt.Through it all, he stressed that even the rough times have a purpose.
“I would actually say it’s my failures that got me here. But if any of you are as committed as I was, you’re going to run circles around your peers when you leave this institution,” Verdugo said.