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February 22, 2015

Annuity.Org GIves Potentially Dangerous Financial Advice to Annuitants

by John Darer® CLU ChFC MSSC CeFT® RSP CLTC

Annuity.org is setting annuitants up for a risk of loss in suggesting that selling a portion of your single premium income annuity (SPIA), and by implication structured settlement,  it could help your asset allocation.  Annuity.org opines that "if your investment portfolio is unbalanced and you’ve tied up so much money in stocks and bonds that there’s not enough cash to meet your immediate needs, dipping into your SPIA ranks as a plausible solution".  

They go on to say "For some investors, liquidating some of these annuity payments provides an agility (sic) to handle present expenses and increase future earnings. In short, by pursuing other investments they might find they can make more money (or faster money) than holding onto future SPIA payments".

Let's face a few facts

  1. Common Stocks and bonds are liquid investments which can generally be reduced to cash within 3 business days where the market is open.
  2. Selling structured settlement payment rights requires court approval and transactions may take 2-3 months.
  3. Selling your structured settlement payment rights will result in a guaranteed loss of capital.  You lose none of your payments by simply enjoying your "salary"
  4. Depending on how long a security like a stock or bond has been held, it may qualify for long term capital gains treatment.

Consider the admission made by Annuity.org  "dipping into your SPIA ranks as a plausible solution".Definition of plausible "superficially fair, reasonable, or valuable but often specious"  [Merriam-Webster]

The transfer of payment rights from annuities and structured settlements is under-regulated and there is an inherent danger in taking investment advice from someone or some entity who/which does not possess relevant credentials (and is in this case, undermined by their own admission).

According to my search of FINRA.org and an investment adviser search with the SEC, neither Raymond G. Apelado, nor Annuity.org LLC are listed as investment advisers or registered with FINRA.  Yet Annuity.org appears to be giving investment opinions and soliciting people to act on that advice by completing a form which includes personal information so that they can get a quote. Whether or not Annuity.org does the funding or they gets someone else to do it, they proclaim that they are a for-profit company.

According to information posted on its website, Annuity.org, LLC, a for-profit company registered with the Florida Secretary of State, which lists Raymond G. Apelado as managing member.   The Better Business Bureau listing shows an address which corresponds to Box 160 at the UPS Store at 401 Las Olas Blvd in Fort Lauderdale, however a January 2015 filing with the State of Florida shows an Orlando address. .Mr. Apelado is the CEO of Launch That in Orlando, Florida, which, according to its BBB report,  "offers information and referrals to consumers effected (sic) by asbestos, mesothelioma and side effects of prescription drugs" on websites sponsored by a Washington DC law firm. 

 

 

This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf
This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf
This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf
This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf
This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf
This company offers information and referrals to consumers that are effected by asbestos, mesothelioma and side effects of prescription drugs. - See more at: http://www.bbb.org/central-florida/business-reviews/internet-marketing-services/launch-that-in-orlando-fl-90140299#sthash.l0c54SmE.dpuf

 

Posted at 03:35 AM in Florida Structured Settlements, Fort Lauderdale Structured Settlements, Orlando Florida Structured Settlements, Structured Settlement Factoring News, Structured Settlement Watchdog® |

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  • 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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  • 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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  • 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
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  • 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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Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
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