Guam - Asia Pacific Financial Management Group has merged its insurance and security lines with Money Resources Inc.

In a release, Asia Pacific announces the appointment of Money Resources president Carl Peterson as the company's new director of financial planning. Peterson will help in expanding Asia Pacific's existing annuities and life insurance services, as well as asset management for high net worth investors.

Peterson is a certified financial planner and brings more than 40 years of experience having served twice as the Guam Chamber of Commerce chairman, three times as the Chamber's Armed Forces Committee chairman, and chairman of the Guam Telephone Authority. Peterson will continue as president of Money Resources to offer credit insurance and real estate services at his Tamuning office.

The addition of Peterson and his staff from Money Resources brings Asia Pacific's team to nine licensed financial advisors. Asia Pacific is a locally owned company founded in 1993 by current CEO/chairman Michael "Mick" Pexa. It provides investment and financial services to individuals, businesses and government organizations in Guam and Micronesia.