The Society of Settlement Planners recent Annual meeting at the Marriott Crystal Gateway in Washington DC was apparently attended by no fewer than 7 representatives from factoring companies, surprisingly including two from JG Wentworth and a swarm of 3 representatives from Strategic Capital (a company who I recently reported offered a free trip to Hawaii to induce annuitants to sell their payments). That's one factoring company representative per 2.8 members of the Society of Settlement Planners.
I've long reported the ingestion of cash, by the Society of Settlement Planners, from factoring companies. I've challenged them to come up with some logic to their inclusion and disclosure to members of the public. Yet through 3 administrations, nothing. They seem to be unable to decouple. And this is the same trade association of 20 or so "professionals" that is supposed to be pushing for transparency?
Have any members of the Society of Settlement Planners members ever used a unilateral consent to release information to assist in a structured settlement factoring transaction, thereby exposing the plaintiff and the plaintiff attorney to violation of a confidentiality provision in a settlement agreement by releasing settlement documents to fafctoring represenatives?
One of the factoring companies attending the Society of Settlement Planners meeting continues to advertise " free structured settlement quote" on the Internet. Is a Society of Settlement Planners member supplying quotes to Strategic Capital to try to help it justify this advertising claim, despite it not having an insurance license?
On the Internet last fall, a current member of the Society of Settlement Planner's firm was offering to buy structured settlement annuities and only removed its Google ad after its actions were exposed by this Structured Settlements 4Real blog. The ad is removed, but what about the member's business practice?
Incoming President Anthony Alfieri certainly has his work cut out for him.