/C O R R E C T I O N -- Wyncrest Group, Inc./
November 06 2009 - 7:13PM
PR Newswire (US)
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: 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 Wyncrest
Group, Inc. 9654 West 131st Street, Suite 215 Palos Park, IL 60464
http://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. DATASOURCE: Wyncrest
Group, Inc. CONTACT: Investor Relations of The Wyncrest Group,
+1-630-215-5171, Web Site: http://www.wyncrestgroupinc.com/
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