FORT MYERS, Fla.--(BUSINESS WIRE)--LTC Global, Inc., a leading national distributor of life and health insurance products, announced today the promotion of Rick Maholchic to Head of Life Insurance Distribution and Tim Smith to Chief Marketing Officer. Mr. Maholchic will continue to serve as President of Pacific Southwest Financial & Insurance Services, Inc. (PSF), and Mr. Smith will continue to serve as President of Charles T. Smith Insurance Agency, Inc., and Charles T. Smith Companies of Florida, Inc. (together, the Smith Companies). Mr. Smith succeeds company founder Mark Dinsmore as Chief Marketing Officer. Mr. Dinsmore has taken the role of Chief Strategy Officer.
Including PSF and the Smith Companies, LTC Global owns seven life insurance agencies that operate in 30 states, with concentrations on the Coasts and in the Midwest. LTC Global is also the majority owner of Capitas Financial, Inc., which operates a national insurance distribution business that caters to the wealth management industry. Six of LTC Global’s insurance agencies are Capitas Financial members. In his new role, Mr. Maholchic will oversee LTC Global’s life insurance distribution business.
“Rick Maholchic introduced us to the life business when we acquired PSF in 2017, and he has more than doubled PSF sales since then. We admire Rick’s talent and determination as a manager, and we look forward to working with him in his new and expanded role,” said Daniel G. Schmedlen, Jr., chief executive officer of LTC Global, Inc.
Mr. Maholchic has over 30 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 Financial. Prior to joining the financial services industry, Mr. Maholchic served in the US Army attaining the rank of Captain in Field Artillery before his honorable discharge in 1989.
In addition to the life insurance agencies, LTC Global operates the largest Long Term Care insurance distribution business in the industry and a leading national Medicare insurance agency, among other distribution businesses. In total, LTC Global operates 14 separate life and health insurance agencies. In his new role, Mr. Smith will oversee these businesses. Mr. Smith will also spearhead the development of new life and health insurance products in coordination with LTC Global’s four F.S.A. actuaries.
“Having run the largest Capitas Financial member agency for years, Tim Smith knows what it takes to operate and profitably grow a life and health insurance agency. Tim’s 38 years of experience both as a top producer and a successful manager will provide a significant resource to our distribution businesses. In addition, Tim’s outstanding relationship skills will help LTC Global expand current carrier relationships and build new ones,” said Mr. Schmedlen.
Mr. Smith joined the Smith Companies in 1985 and held various positions, from case designer to Sales Vice President and Capitas Financial’s top producer from 2001 to 2012, before becoming President in 2012. Mr. Smith has contributed significantly to the development of new relationships for Capitas Financial with major wire houses, including Morgan Stanley and Merrill Lynch / Bank of America.
About LTC Global
LTC Global is the leading provider of capital to insurance agents and agencies through lead and marketing finance programs, commission advance programs and renewal commission purchases. Through its agency subsidiaries, LTC Global is a leading national distributor of life and health insurance products and the largest independent distributor of Long Term Care insurance. LTC Global is headquartered in Fort Myers, Florida. For more information about LTC Global, visit ltcglobal.com.
