Richard Maholchic (Photo: LTC Global)

LTC Global Inc. has acquired Pacific Southwest Financial & Insurance Services Inc.

LTC Global is a Woodland Hills, California-based long-term care insurance distributor and insurance agency finance company.

Pacific Southwest is a La Jolla, California-based insurance brokerage consulting firm affiliated with the Capitas Financial brokerage organization.

LTC Global says Richard Maholchic, who has been the executive vice president at Pacific Southwest, will take over as the president of Pacific Southwest, and as the manager of the Pacific Southwest unit’s operations.

Maholchic has a bachelor’s degree from San Diego State University, and he has experience with bringing big guns to bear on problems: He was a captain in field artillery in the U.S. Army in 1989, before he entered the insurance industry.

He is a graduate of the U.S. Army Ranger and Airborne schools.

Daniel Schmedlen Jr., the chief executive officer of LTC Global, said in a statement that he wants to help Maholchic expand the Pacific Southwest business.

— Read New LTC Global Agency Connects With General Agents on ThinkAdvisor