Securities Training Leader Continues Growth with Pre-Licensing Provider Focused on Insurance
NEW YORK–(BUSINESS WIRE)–Securities Training Corporation (STC), the market leader in securities training, today announced that the company has acquired XCEL Testing Solutions, the leading provider of online insurance pre-licensing education.
“We are excited and welcome XCEL Testing Solutions to the STC family. The acquisition of XCEL Testing Solutions significantly expands our financial service offerings”
“We are excited and welcome XCEL Testing Solutions to the STC family. The acquisition of XCEL Testing Solutions significantly expands our financial service offerings,” said Paul Skordilis, President of STC. “Their relationship with insurance companies and expanded insurance content allows us to deliver an end to end customer experience and one stop shop for the licensed professional.”
Headquartered in Jacksonville, Florida, since 2012 XCEL Testing Solutions has helped students successfully pass standardized knowledge, skills and assessment exams by utilizing the company’s research-based learning approach. XCEL Testing Solutions prepares more than 150,000 potential future insurance professionals each year to pass their state licensing exams with course offerings for Life, Accident, & Health Insurance.
“The insurance industry is one of the largest and most consistent industries in the United States and employs more than 2.3 million people with 880,000 of those being active insurance agents,” said Greg Sinner, CEO at XCEL Testing Solutions. “New insurance agent growth is a driving factor for every one of our clients. Our online learning system has produced industry-leading pass rates, combined with our proven ability to produce more new agents in less time for our clients has allowed us to become the market leader for insurance pre-licensing over the past couple years. I felt joining STC was the perfect fit for us. Pairing up two industry leaders to provide a total solution for any financial services licensing need is a win-win for the industry.”
XCEL Testing Solutions is the latest investment STC has made to expand the base of professionals it serves. To learn more about STC and its product offerings visit www.stcusa.com.
ABOUT SECURITIES TRAINING CORPORATION
Founded on Wall Street in 1969, Securities Training Corporation (STC) has successfully helped over 1,000,000 professionals pass FINRA regulatory exams and launch their careers. STC has grown to become the leading provider of financial examination training, working with the top banks and broker dealers in America to offer FINRA exam courses like Series 6, Series 7, Series 24, Series 79, and Securities Industry Essentials (SIE) (coming October 2018) in addition to continuing education, and Life, Accident and Health pre-licensing courses. STC is committed to providing a superior customer experience and innovative product offerings. STC is part of Colibri Group, which provides learning solutions to licensed professionals who strive to be among the best in their fields. Learn more at www.stcusa.com.
ABOUT XCEL TESTING SOLUTIONS
XCEL Testing Solutions is the leading provider of Online Insurance Education since 2012. Over 150,000 students each year use XCEL to help them successfully passed standardized knowledge, skills and assessment exams by utilizing the company’s research-based learning approach. The Preparing People to Pass e-learning platform is loaded with rich online content, including interactive assessments, engaging multimedia content and customized learning paths, allowing each student to grasp difficult concepts based on their individual needs. The company’s M-Learning platform allows students to study anytime-anyplace with any device. Find out more at www.xcelsolutions.com.
Transition Services Agreement
In connection with the acquisition, XCEL Testing Solutions, LLC (“Seller”) and XCEL Solutions, LLC (“Buyer”) entered into a Transition Services Agreement effective as of August 13, 2018, in which Seller agreed to operate under its approved provider status in the various regulated states until such time as Buyer receives approval to operate in those states as a provider of insurance pre-licensing education and/or continuing education for life and/or accident and health single lines or combination. In addition to the self-study states, as of December 2018, Buyer has received approval in the following regulated states AL, AR, CO, CT, FL, GA, IN, KY, LA, MD, MI, MS, NC, OH, PA, TN, WA, WV and WI and is awaiting approval status in CA, MN, NJ and NY. As we continue through this transition period, Buyer will be providing administrative and management services to Seller. We appreciate your continued support, and if you have any questions, please call customer support at (904) 999-4923.