The origin of Kaplan Financial Education lies in three companies founded in the early 1970s:
Longman, Inc., acquired Blitz Schools, Security Schools, and DSC Publishing and merged them together to create Longman Financial Services, Inc. (LFSI).
Longman purchased R&R Newkirk, an Indianapolis-based company that developed print products for insurance licensing and continuing education. The firm dated back to 1914 as a provider of insurance sales and product training. The acquisition provided Longman Financial Services a wide range of insurance training products and courses.
Longman acquired more than a dozen small training organizations, merging them into LFSI. These acquisitions were made to add new geographical market and/or new product lines.
Longman sold Longman Financial Services to Bob Kyle and Dennis Blitz. Kyle and Blitz split their new company into three distinct business units: 1) Real Estate Schools, 2) Real Estate Publishing, and 3) Financial Services Training. Financial Services was consolidated from four locations into one office in Chicago, Illinois. The name of the company was changed to Dearborn Financial Publishing.
Dearborn Compliance Tracking was created, an Internet-based system that tracked compliance hours and course approvals, as well as individual student and company programs.
Dearborn was acquired by Kaplan, Inc.
Kaplan purchased BISYS Education Services, Dearborn’s largest head-to-head competitor for financial services training and a large provider of licensing and compliance services to the insurance and securities industry. The education products and services were merged with Dearborn to become Kaplan Financial; the compliance group became a separate operating entity, Kaplan Compliance Solutions.
Kaplan purchased eMind, headquartered in Los Angeles, California, which provided online securities firm element training and tracking, online insurance CE, and a suite of online compliance tools.
Kaplan Financial was relocated from Chicago to La Crosse, Wisconsin, the home office of Kaplan Schweser. The company was placed into the hands of Kaplan Schweser’s management team, and the name was changed to Kaplan Financial Education. Kaplan Real Estate Education was also relocated to La Crosse.
Kaplan Financial Education, Kaplan Real Estate Education, and Kaplan Schweser were collectively managed under the name Kaplan Professional Education.
The Kaplan Compliance Solutions unit was folded back into the business, and Kaplan Professional Education became Kaplan Professional.
Kaplan Professional Education acquires SmartPros, Loscalzo & Associates, and Executive Enterprise Institute. These organizations have been offering live and online continuing professional education for accounting and finance departments for over 30 years.
Midway through the year, Kaplan Professional Education acquires Nichols Patrick CPE, a highly respected live training provider based in Ohio, with a primary focus on tax topics. Nichols Patrick's offerings are absorbed by Loscalzo Associates, significantly increasing the number of live specialized tax course topics being offered.
SmartPros and the Losalzo Institute are merged into one product line called Accounting Continuing Education. This new entity joins the Kaplan Financial Education suite of products. Live accounting and finance training is powered by Loscalzo Institute, while online training is led by the SmartPros team.