In 1969, founder partner of Foster Financial Group, Larry Foster, began working as a general agent for the Penn Mutual Life Agency of Philadelphia under the business name of Larry Foster and Associates. The agency’s primary focus was securing new business loans and providing insurance to medical students, residents, interns, practicing doctors, CPAs, and attorneys. The agency did more than assist in securing loans and provide high-quality life insurance and disability income, they also assisted clients in negotiating fleet car services, securing office space, and purchasing homes.
In 1972, Larry Foster and Associates were responsible for setting up the first executive and professional loan department in the city of Dallas at Lakewood Bank and Trust. At the same time, becoming affiliated with Physician Association of Residents and Interns (NARI) and the American Professional Practice Association, a professional membership association for physicians, enabled Foster and Associates to provide malpractice insurance to physicians.
Strategically organized, Foster and Associates became the preferred business partners of physicians establishing new practices by helping the doctors secure new business loans and assisting them with both business and personal financial planning. The agency also brought tremendous value to the physicians helping them select attorneys, CPAs, and business managers.
In 1973, Foster and Associates saw a need to offer life insurance and disability income to their clients. The business was expanded and Examination Management Services, Inc. was formed. The company provided insurance exams not only for their clients, but other agencies throughout the Southwest. Examination Management Services, Inc. was later sold and still operates as one of the largest insurance exam companies in the United States.
In 1985, former President and CEO of Pyramid Life Insurance Company of Little Rock, Glen Cary, CLU, joined the firm as co-founder of the new Foster Cary Agency. Under the new alliance the company expanded services to all sectors of business under the name of Foster Financial Group.
Today Foster Financial Group assists businesses and their employees with financial planning and employee benefits. Well respected in the industry as business advisors, Foster Financial Group tailors service to the individual client’s needs and goals.