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June 28, 2007

Does John Edwards' Albatross weigh a ton?

Several years ago during a trip through the Galapagos Islands my companions and I had a memorable stop on the island of Espanola to see the unique mating ritual of the waved albatross, a rare and majestic sea bird with an over 9 foot wing span. The bird is renowned for its soaring capabilities and lumbering landings.The word "albatross" is also a metaphor for an encumbrance.  This post focuses on what sort of albatross Forge Consulting represents to John Edwards 2008 Presidential candidacy.

Presidential candidate John Edwards is closing in on a ton. John Edwards is closing in on 100 days of avoiding the Forge Consulting questions. Is he afraid to answer these questions? Will the Forge Consulting issue be the an albatross for John Edwards if he gets the Democratic nomination? We shall see.

To recap for all you registered voters.

  1. Forge Consulting, LLC a structured settlement firm headquartered in Buffalo, NY, has aggressively used testimonial words purported to be those of John Edwards in its solicitation and sale of regulated insurance and investment products. You can read about Forge Consulting by going to its website at www.forgeconsulting.com or by reading the extensive coverage of the company, including, in my opinion, some significant and material reasons to be concerned about Edwards' "standards" if he is truly giving this company "his highest recommendation", in the category listing to the right of this post------->. Read and judge for yourself.
  2. The words purported to be that of John Edwards are used in such a way on the Forge Consulting web site and in the body of a letter Download forge_feb_21_2007_letterny_statejohn_bair.pdf , soliciting structured settlement annuity and insurance products, that was sent by Forge President John Bair to trial lawyers, to imply that John Edwards uses Forge Consulting for same services that Forge is soliciting the trial lawyers and their plaintiff clients for (i.e. structured settlements).
  3. According to publicly available information John Edwards left his law practice in 1999. Forge Consulting began operations several years later. This author believes that due to the time differential it unlikely or impossible that John Edwards ever used or currently uses Forge Consulting for structured settlements, but seeks clarification.
  4. In March 2007 John Edwards represented to Katie Couric that as a result of his candidacy for President he was OPEN to scrutiny. However, his actions run contrary to that statement.
  5. This author wrote to John Edwards on March 27, 2007 Download letter_to_john_edwards_032720007_sent_via_johnedwards_2008_website.pdf and has followed up with several members of John Edwards 2008 campaign staff including Kathleen McGlynn and John Pappajohn. Copies of the letter to Edwards appear in the John Edwards category to the right of this post.
  6. Are the words that Forge Consulting attributes to John Edwards true?
  7. If the words that Forge Consulting attributes to John Edwards are true and John Edwards did indeed give Forge Consulting "his highest recommendation" was the "testimonial" for structured settlements as framed by Forge Consulting?
  8. Does John Edwards permit Forge Consulting to use his name and words (if they were his) in ongoing solicitations for regulated insurance products or investment services?
  9. Forge Consulting represents that it is licensed in all 50 states
  10. Certain state insurance laws are specific on how testimonials may be used. Some require that any testimonial represent the current opinion of the person giving the testimonial
  11. Federal securities laws contain strict guidelines on the use of testimonials. There is a strict prohibition on the use of testimonials by financial advisers.
  12. According to publicly available information several Forge Consulting principals and their wives have given money to John Edwards' campaigns in 2004 and the current campaign. The firm has used its Buffalo Headquarters for John Edwards 2008 fundraisers in 2007 which begs the obvious question concerning the reasons for avoiding or delaying a response.

Once again I call on the "I am open to scrutiny" John Edwards to come forward and answer these questions.

As an aside to readers, I contributed to Edwards' 2004 campaign as did a number of people in the structured settlement industry. Forge Consulting appears to be the only firm of any kind , that I have been able to find, that uses a current Presidential candidate's name in solicitation for regulated financial products.

Posted at 03:16 AM in Buffalo New York Structured Settlements, Factoring Company Bad Business Practices, New York State Trial Lawyers Association, NYSTLA, Settlement Advertising Wall of Shame, Settlement Planning Ethics, Structured Settlement Brokers, Structured Settlements and Politics, US Department of Justice |

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Guide to Structured Settlements 2022

  • What is a Structured Settlement? What You Need to Know
    What you need to know about structured settlements. General explanation of structured settlements, including the stable guaranteed income and favorable tax benefits that give structured settlements their "juice" and a helpful introductory video featuring 2022 A.M. Best Client Recommended structured settlement expert and Registered Settlement Planner John Darer® of 4structures.com® LLC
  • How Do Structured Settlements Work? How Structured Settlements Work | Structured Settlement Diagram
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in with other settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
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  • Structured Settlement Annuity Companies 2022
    Which life insurance companies issue structured settlement annuities going into 2022? A list of current structured annuity issuers, the location of their home offices and their financial ratings from A.M. Best, Moodys, Fitch, Standard & Poors and/or other Tier1 NAIC ratings, with links to their websites and other useful information.
  • Treasury Funded Structured Settlements
    Treasury Funded Structured Settlements are a settlement option for the most conservative using the OTHER permissible qualified funding asset under IRC 130(d), United States Treasury Bonds in addition to, or instead of, structured settlement annuities. Treasury Funded Structured Settlements can also be used to fund installment sales, also known as structured sales and other non qualified structured settlements.
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    Use the Taxable Equivalent Yield chart to help compare the Internal Rate of Return (IRR) of a structured settlement to other alternative or complementary investments. Need help with the chart? Call 4structures.com® LLC at 888-325-8640
  • Structured Settlement Payments | Types of Structured Settlements
    Ways You Can Structure Your Settlement Payments. With a structured settlement you can have more than one type of payment in a single contract. Different types of structured settlement payments can be customized and combined to meet your needs on a stand-alone basis, or in conjunction with other financial products. Diversify your structured settlement, if you wish, by funding with more than one annuity issuer, with treasury funded structured settlements, index linked structured settlement payments and market based structured .
  • Structured Attorney Fees for Tax Deferral for Contingency Fees
    Structured attorney fees is a financial strategy that offers a unique way to defer taxes for lawyers and law firms. Lawyers CAN structure their legal fees even if the plaintiff doesn't structure their settlement. There are multiple ways to structure your attorney fees, such as the an index linked structured settlement where payments are adjusted based on upside changes in the S&P 500 with no downside and a cap of 5%. Trial Lawyers may also use a special deferred pay/deferred compensation arrangement, if market based returns returns are desired with no cap. Plan NOW for year end! Put structured attorney fee expert John Darer® on your settlement planning team.
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    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click for a comprehensive list of customer service telephone numbers that includes both current AND former structured settlement annuity issuers and reinsurers. If you have simple bank or beneficiary changes, or if the insurance company that issued the structured annuity has merged, sold or spun off its block of structured annuity business (e.g. Aviva, Transamerica, AEGON, GE Capital, Liberty, CNA) or changed its name and you're trying to track them down, here you go! The list is regularly updated. Last update January 13, 2022.
  • Structured Settlement Quote Lock-Ins | What You Need To Know
    What does a Structured Settlement Lock-In Mean? How do plaintiffs, defendants and insurers benefit from a structured settlement quote lock in when finalizing a settlement? How does the defendant/insurer/court benefit from using a structured settlement lock-in? Where to be careful when using structured settlement lock ins.
  • What Are Structured Settlement Annuities?
    Structured settlement annuities are annuities that can provide one or more customized annuity payment streams in a single contract. Read about structured settlement annuities here.
  • History of Structured Settlements
    Tracing the roots of structured settlements history from 1918, when Congress exempted damages for personal injury or sickness from income tax, to the establishment of structured settlements as a core personal injury settlement planning tool to the present day.
  • What Are Market Based Structured Settlements?
    Market based structured settlements are an alternative or supplementary structured settlement solution for the plaintiff, attorney or law firm that: 1. Can afford to take some market risk 2. Have discretionary settlement dollars. Claimants and attorneys alike may find that market-based structured settlements provide the opportunity to receive tax-free income, or tax-deferred income, while enjoying growth potential.
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  • STRUCTURED SETTLEMENTS 4REAL® Blog Is a Popular Source of Structured Settlement News and Information, Settlement Planning News, Tax Deferral and Deferred Income Planning Solutions,
    with a stable readership that seeks credible structured settlement information and/or opinion about topical issues related to settlement planning, targeted to lawyers, injured persons and their family members, guardians, survivors, judges, magistrates, special masters, mediators, administrators, trust companies, insurance company executives and adjusters, financial advisers settlement professionals, financial professionals, insurance regulators, government leaders, federal and state law enforcement, buyers and sellers of structured settlement payment rights, the news media and other interested parties. 4structures.com LLC established the structured settlement blog in 2005 and for over 16 years it has been a leading source for critical commentary. The John Darer authored blog has been among the most prolific, regularly providing fresh structured settlement, settlement planning and litigation recovery management content and commentary. John Darer®, CLU ChFC MSSC CeFT® RSP CLTC, President of Stamford, CT based 4structures.com, LLC, is an experienced New York City area structured settlement expert, structured settlement broker, Certified Financial Transitionist, and Registered Settlement Planner. In his capacity as a journalist, and professionally, Darer passionately believes that exposing a business practice is both healthy and newsworthy. It is in the best interest of tort victims, their families and their legal advisers, that the settlement planning discussion involve those that are properly trained in the topic, properly informed on the topic and, with respect to structured settlements, properly licensed and/or appointed). It has significant instructional and deterrent value to other practitioners and firms as well as those who may be caught in the cross hairs. WHAT YOU GET here is the straight stuff with a touch of irreverence and humor. We hope you enjoy and find the content to be helpful. Subscribe to the structured settlement blog feed, or a specific category feed through your blog reader, or through the Feedburner icon on this page. Followers of JDDarer™ on Twitter may also receive select content. Thank you for reading!

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  • "...Thanks to Mr. Darer's blog and personal pointers I was able to obtain a fair price for the sale of client structured settlement. Therefore, if one has no choice, but to sell their settlement educate yourself first before selling start by reading John's blog" Mr P. 11/17/2012
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  • "Amen - and continued thanks for your vigilance, John"- RL 8/18/2011
  • "Thanks for writing these great blogs on your site John! As an individual investor I have learned so much about the secondary market (for annuities, structured settlements, lottery payments, etc.) from your blogs and video series!!!" (6/5/2011)
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  • John - I can't thank you enough for bringing this to my attention. In my wildest dreams... PJ-May 12, 2011
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  • Thank you so very much for discussing my concerns about Symetra, my annuity company. I am amazed that PI attorneys as well as a settlement broker in San Diego, could not answer the simplest questions I had regarding the Safeco/Symetra issue. Your blog/web site is most interesting and informative, and I am grateful you have take on the "watchdog" role! Thank you so much again (3/25/10)
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  • "All the others that I had emailed & have seen on the net were "cash now types" & have no concern of me & just are looking for my $$$. When I came across your site & blog I realized that u are an upstanding guy & are not like others. That's why I emailed"
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Structured Settlement Best Practices Corner

  • New York Insurance Advertising law requires the full name of the Insurer to be listed along with the city and state of the principal office. Stating that you represent these fine companies using Insurance company logos without the preceding information are also illegal
  • When it comes to settlement documents it is the ultimate responsibility of the lawyers or claims adjusters who receive input concerning the structured settlement aspects of the documents to actually read the entire document, exercise independent thought and advise their clients properly
  • Be aware that financial advisors use of testimonials is prohibited or restricted
  • Most states require that Testimonials represent the CURRENT opinion of the person who made the testimonial. Be prepared to back it up.
  • Number of States That Prohibit Payment of QSF expenses by licensed agents and brokers
    5 Survey not yet complete.

Comments and Trackback Policy

  • Comments and Trackback Policy
    Comments to this blog are encouraged, welcome and add spice to the interactive nature of blogs. However, the unscrupulous practice by some to deliver comment spam, to connect all manner of unrelated products to structured settlements, detracts from user experience, is NOT tolerated by this author and thus necessitates the practice of comment screening.

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