In the news release, The Wyncrest Group, Inc. Grows Sales Force by 59%,
Further Diversifying its Operations and Adding Shareholder Value, issued
06-Nov-2009 by Wyncrest Group, Inc. over PR Newswire, we are advised by the
company that all mentions of SFG should be replaced with the full company
name, Southwest Financial Group. The complete, corrected release follows:
The Wyncrest Group, Inc. Grows Sales Force by 59%, Further Diversifying its
Operations and Adding Shareholder Value
CHICAGO, Nov. 6 /PRNewswire-FirstCall/ -- The Wyncrest Group (Pink Sheets:
WNCG), a leader in niche insurance and financial products and services,
announced that it grew the number of sales representatives by 59%. The
company's wholly owned operating subsidiary, Southwest Financial Group,
recruited an additional 50 agents from across the country to its sales force
during the past month. The additional agents raise the total number of agents
Southwest Financial Group contracts to approximately 135 people. The agents
were contracted in order to meet the growing demand from the market and to
further diversify its operations.
Increased demand for insurance and financial products that help individuals
and families protect them as well as save more for retirement in the current
economic environment contributed to the need for a larger sales force. Chris
Zaal, President of Southwest Financial Group commented that, "Our group holds
a competitive advantage in attracting talented professionals. The breadth of
product offering and technology infrastructure available at Southwest
Financial Group helps distinguish us and adds to shareholder value."
Wholly owned Southwest Financial Group has been in business for 21 years, has
18,000 clients, and sells through 100+ representatives nationwide. During
2008, approximately $22 million in total insurance policy sales were generated
resulting is $1.1 million of commission revenues.
WNCG plans to continue to grow Southwest Financial Group through discounted
acquisitions of competing agencies and applying its IT advantage with a U.S.
patent pending automated business method for managing the acquired client
books to improve policy renewal retention and up-selling. The company expects
that this strategy will reduce cost of sales by half compared to traditional
origination methods.
About The Wyncrest Group (WNCG.PK)
The Wyncrest Group is a publicly traded company based in Chicago, Illinois,
which provides insurance products and services through its Southwest Financial
Group subsidiary. WNCG is also in negotiations with several acquisition
targets developed over an ongoing two-year campaign to find distressed
agencies and consolidate contract assets under one lower cost platform.
Royalty income is expected from licensing insurance products patented under a
new category of business methods, a strategy taken only by a few in a new
class of small innovative insurance companies leading the industry.
Contact:
Investor Relations
+1-630-215-5171
investor@wyncrestinc.com
Wyncrest Group, Inc.
9654 West 131st Street, Suite 215
Palos Park, IL 60464
www.wyncrestgroupinc.com
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
advise in the event of any change, addition or alteration to the information
catered in this Press Release including such forward-looking statements.
SOURCE Wyncrest Group, Inc.
Investor Relations of The Wyncrest Group, +1-630-215-5171,
investor@wyncrestinc.com
