by Structured Settlement Watchdog
So you think you want to invest your retirement savings in a "secondary market annuity"? How would you feel if you lost your retirement savings?
The following contrasting statements by speak for themselves:
- “Secondary Market Annuities are considered by most to be high-yield, low-risk financial products.” Altium Group
- “I entered into a contract with Altium LLC in April of 2012 to buy a structured settlement for $152,833.37 with a return of $191,128.92. It was granted through the Florida court system then overturned because of fraud and our monies were never returned to us. Altium is now saying they are not insured and don't have those kinds of funds to return our money. My retirement savings are gone and they don't seem to think it is their problem. Be very wary”. Linda Wall, Altium customer, on BBB 1/26/2017
As I've covered previously, "secondary market annuity " is a scam label for structured settlement payment rights or structured settlement derivatives. What little regulation there is, is not commensurate with the complexity of these transactions. In this case a consumer suffered devastating financial consequences.