WOODLAND HILLS, Calif.--(BUSINESS WIRE)--LTC Global, Inc. today announced that it has completed the acquisition of Pacific Southwest Financial & Insurance Services, Inc. (PSF). Richard Maholchic will take over as president of PSF and manage PSF’s operations. PSF is a member of Capitas Financial, Inc. and will continue to operate as a Capitas member.
“PSF is a successful agency with a storied history. We’re fortunate to have the opportunity to work with such a capable team,” said Daniel G. Schmedlen, Jr., Chief Executive Officer of LTC Global. “We also highly value the Capitas relationship and look forward to being a productive Capitas member.”
Mr. Maholchic has over 25 years of experience in the insurance industry, including 18 years with the Hartford in various sales executive roles. Prior to joining PSF in 2013 as Executive Vice President and Partner, Mr. Maholchic served as Vice President and Director of Sales of Capitas. Prior to joining the financial services industry, Mr. Maholchic served in the US Army attaining the rank of Captain in the Field Artillery before his honorable discharge in 1989.
“Rick is a respected leader in the industry. His knowledge, management talent and energy will make him very effective in his new role at PSF,” said Mr. Schmedlen. “LTC Global will support Rick’s efforts to grow the business.”
PSF is an independent brokerage consulting firm and Capitas member, specializing in all aspects of the insurance planning process. PSF began operations in 1997 as a merger of two career General Agencies. PSF supports independent financial advisors, national financial institutions stock brokerage firms and banks to better serve their clients. PSF has offices throughout Southern California and Capitas affiliates throughout the country. For more information about PSF, visit psfin.com.
Capitas is a member-owned independent brokerage organization that supports firms and financial advisor relationships across the United States to provide sophisticated and unbiased insurance and wealth management planning solutions. For more information about Capitas, visit capitasfinancial.com.
About LTC Global
LTC Global is the leading provider of capital to insurance agents and agencies through commission advance programs and renewal commission purchases. Through its agency subsidiaries, LTC Global is also the nation’s largest independent distributor of Long Term Care insurance and a national distributor of Medicare insurance products. LTC is headquartered in Fort Myers, Florida. For more information about LTC Global, visit ltcglobal.com.