ARM Firms Beacon Financial and Estate Recoveries, Inc. Announce Merger

Baltimore, MD – Beacon Financial Group, Inc. (BFG) announced today that it has acquired Estate Recoveries, Inc. (ERI), a leading accounts receivable management (ARM) firm headquartered in Baltimore, Maryland, specializing in the recovery of deceased debt.

ERI CEO Jennifer Lee said, “BFG’s purchase of ERI will give it access to major client groups that were previously beyond its reach.  This new partnership with ERI, a nationally licensed agency, offers BFG a tremendous opportunity to collect on accounts it formerly had to outsource to other agencies.”

Beacon Financial Group: a history of successful growth

Beacon Financial Group, Inc. was founded in 1990 to provide financial consulting services to companies specializing in financial planning and capital makeup, with a focus on debt restructuring and negotiation.  As a part of its growth strategy, BFI began to purchase charged-off consumer receivables for internal portfolio management and for a number of affiliated entities.

In 1994 BFG launched Beacon Services, LLC, to provide a collection platform for the company’s debt purchasing activities. By 1996, Beacon Services had expanded its operations to include providing third party collections on behalf of other companies.

A new era, a new ERI

Later this month, BFG will merge the operations of Beacon Services into ERI.  The combination of ERI and Beacon Services brings together two companies with different, yet complimentary, assets and skill sets.

The merger pairs ERI’s 26 years of ARM industry experience in the financial services industry—with its seasoned management team; strong analytic capabilities, SAS 70 certification, and state of the art computer systems; secure office facility with capacity for an additional 100 collectors—with the customer service-driven expertise of Beacon Services and its longstanding relationships with smaller clients and experience in the contingency collection of consumer paper. The combined entities offer current and prospective clients new revenue opportunities through dynamic and efficient methods and varied channels of liquidation.

ERI’s Chairman of the Board, Robert Probasco, commented, “The natural synergy of systems, management vision, opportunity to cross sell existing client relationships and to add services makes this combined entity positions ERI for great success.”  National licensing now allows BFG to collect on accounts that they formerly had to outsource to other agencies.

For further information please refer to www.eri-strategies.com or www.beacon-services.com.