PALOS PARK, Ill., June 2 /PRNewswire-FirstCall/ -- Wyncrest Group,
Inc. (Pink Sheets: WNCG) is pleased to provide shareholders with an
update on the Company's growing financial services organization.
Wyncrest Group is generating substantial revenue from its
profitable insurance and financial services business, identifying
opportunities to increase sales and improve profitability, and
acquiring other established financial services companies. Southwest
Financial Group, a wholly owned subsidiary, is a trusted provider
of insurance and financial products with more than 22,000 clients
and 285 representatives nationwide.
Wyncrest Group's Southwest Financial Group subsidiary has been
serving customers for more than 15 years. The McKinney, Texas-based company generates
ongoing revenue and net income from multiple lines of business
including complete Retirement Planning, Estate Planning, Life
Insurance, Long Term Care Insurance, Mortgage Insurance, Employee
Group Benefits, Sports Insurance, Student Insurance, Debt Reduction
and Mortgage Purchasing & Refinancing. With an expert
management team and skilled national sales network comprised of 85
career sales agents and 200 representatives, Southwest Financial
Group has earned the business of more than 22,000 clients.
For the year ended December 31st,
2009, Southwest Financial Group generated $7,008,307 in revenue and $1,191,835 in gross profit.
In 2009, Southwest Financial Group acquired the strategic
business resources of Whatabiz, Inc. with more than 200 agents in
the Chicago area. The division is
focused on increasing Single Annuity Premium and Life Insurance
Premium sales.
Earlier this month Wyncrest Group announced that it has signed a
non-disclosure and non-circumvent agreement with State Continuing
Education Inc. (StateCE), a profitable provider of continuing
education programs. StateCE delivers on-demand access to continuing
education courses for ten professions and trades including
insurance professionals, realtors and mortgage representatives,
serving more than 70,000 customers nationwide.
Wyncrest's wholly owned Southwest Financial Group subsidiary is
in discussions with State CE to explore ways to work together to
provide a nationwide array of continuing education programs for
Southwest Financial Group's expanding network of companies and
personnel. These programs would be targeting Southwest Financial
Group's licensed real estate professionals, mortgage loan officers
and insurance agents.
Wyncrest Group is engaged in acquiring established insurance,
financial services, real estate, mortgage and supporting businesses
with ongoing revenue and proven expertise within their niche
industries. The Company seeks out businesses that are profitable,
run by strong management teams, offer good long-term viability and
present exceptional growth potential. Wyncrest Group is currently
negotiating for the acquisition of several high caliber
companies.
Mr. William McFarland, Chairman
of Wyncrest Group, commented: "Wyncrest Group is achieving growth
via our strong insurance and financial services business. As we
aggressively pursue acquisitions of undervalued financial services
companies and tap into new market segments we believe Wyncrest
Group can significantly increase revenue, market penetration and
company value this year. We eagerly anticipate reporting on our
pending acquisitions in the coming weeks."
About Wyncrest Group, Inc. (WNCG.PK)
Wyncrest Group, Inc. is a growing financial services
organization. Wholly owned subsidiary Southwest Financial Group has
been delivering trusted insurance products and financial services
since 1994, serving more than 22,000 clients throughout
the United States. By developing
the growth potential within its existing businesses and acquiring
companies with market share in lucrative financial segments
Wyncrest Group is committed to increasing value for
shareholders.
This press release may contain certain forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. WNCG has tried, whenever possible, to identify
these forward-looking statements using words such as "anticipates,"
"believes," "estimates," "expects," "plans," "intends," "potential"
and similar expressions.
These statements reflect WNCG's current beliefs and are based
upon information currently available to it. Accordingly, such
forward looking statements involve known and unknown risks,
uncertainties and other factors which could cause WNCG's actual
results, performance or achievements to differ materially from
those expressed in or implied by such statements. WNCG undertakes
no obligation to update or provide advice in the event of any
change, addition or alteration to the information catered in this
press release including such forward-looking statements.
Contact:
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Wyncrest Group,
Inc.
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9654 West 131st
Street
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Suite 215
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Palos Park, IL 60464
USA
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Investor
Relations
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investor@wyncrestinc.com
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Tel:
630-215-5171
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SOURCE Wyncrest Group, Inc.