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April 17, 2016

Structured Settlement Buyer Solicits Unlicensed Brokers to Offer Legal Counsel to Structured Settlement Annuitants in "Texas Sized Niche"

by Structured Settlement Watchdog®

A structured settlement buyer appears to be soliciting brokers of cash flows to provide counsel related to American consumers without any licensing.

It was bad enough when David Springer, the Mount Airy Maryland admitted faker from erstwhile structured settlement factoring intermediary Sovereign Funding Group, was fraudulently held out as a lawyer in advertising that starts with the premise that "all attorneys are known as crooks". Now another company says this on its website:

  • "The effective consultant provides both formal and informal counsel related to the legal process that protects their customer".
  • "Tired of beatin’ a dead horse? Lookin’ for a niche as big as Texas ? How ’bout brokerin’ a few of them there structured settlements. The good ol’ folks at ..., a purchaser of structured settlement based annuities**, are fixin’ to help get you started!"
  • "Would you be interested in providing a real service that starts with a hand shake and ends with a big check (actually two checks, including the one you receive!"

The solicitation by the structured settlement buyer solicitation question,  is yet another member of the National Association of Settlement Purchasers who is riding the third rail.

In order to be able to practice law you must take the LSATs, get into law school, be able to pay for tuition, graduate law school, pass the bar where you are practicing, and also meet continuing legal education standards. In addition you must adhere to the laws of each state in which you are admitted and the Canons of Ethics.

In order to solicit and sell insurance in any state, generally you need to undergo a background check, you must take a licensing course and you must take and pass a proctored exam. In addition you must meet continuing education standards during each licensing period.  You must possess and understanding and adhere to all laws related to the sale and solicitation of insurance in the states that you solicit customers.

In order to provide investment advice you must undergo prerequisite training and pass a proctored licensing exam and you must comply with rules promulgated by FINRA and the SEC, state and federal law.

As much as the structured settlement buyer in question wants to make it seem as easy as deep frying rocky mountain oysters or "cowboy caviar",  spitting out tobacco juice from a big chaw while sitting on a log at the "ole fishing hole", or whippin' up chicken fricassee, there are real lives at stake and there real people being financially harmed by unlicensed individuals and companies holding themselves out as advisors around the structured settlements secondary market providing legal or financial advice related to the disposition of a financial asset.  The days of rounding up the herd of structured settlement annuitants into "Cow Town" for financial slaughter are numbered. 

Structured settlements are "finger-lickin good", with all the fixins.  Why do you think them there varmints want to get at 'em?

Structured settlement cash now
Structured settlement cash now pusher at the ole fishing hole

 

** this is highly inaccurate, the structured settlement buyer is not buying structured settlement annuities, it is buying structured settlement payment rights.  When a person sells structured settlement payments, the ownership of the annuity DOES NOT change hands.

Posted at 01:45 PM in Amarillo Structured Settlements, Austin Structured Settlements, Bethesda Structured Settlements, Boca Raton Florida Structured Settlements, Cash Now Pushers | The "Cash Now Fix", Chevy Chase Structured Settlements, Corpus Cristi Structured Settlements, Dallas Fort Worth TX Structured Settlements, El Paso Structured Settlements, False Advertising Re Creating, Buying or Selling Structured Settlements, Houston Structured Settlements, Lubbock Structured Settlements, Misinformation about Structured Settlement Factoring, New Braunfels Structured Settlements, Structured Settlement Factoring, Structured Settlement Factoring News, Structured Settlement Transfers, Structured Settlement Watchdog®, Texas Structured Settlements, TX structured settlements |

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Guide to Structured Settlements 2024

  • What is a Structured Settlement? What You Need to Know
    Structured settlements and what you need to know about them including a helpful introductory video featuring 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
    How structured settlements work, including 4structures.com LLC's super helpful structured settlement flow chart/diagram showing how structured settlements fit in on the spectrum of settlement planning solutions.
  • Rated Ages and Structured Settlement Cost
    Rated Ages for Structured Settlement Annuities present advantages to all parties. Shift the mortality risk to a life insurance company whose business it it is to assess mortality risk to price its life insurance and annuities. Rated ages boost your structured settlement annuity benefit per premium dollar, or your yield on lifetime payments. Rated ages help to reduce the cost of funding a Medicare Set Aside arrangement where a Structured MSA, is being used { WCMSA LMSA or NFMSA].
  • Top Structured Settlement Annuity Companies 2024
    Which life insurance companies issue structured settlement annuities in 2024? 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. Last updated June 14, 2024
  • 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.
  • Compare Structured Settlement IRR to Other Settlement Alternatives
    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 2024
    Ways You Can Structure Your Settlement Payments in 2024. 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 Attorney 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 capped or uncapped index linked structured settlement annuities where payments are adjusted based on upside changes in the S&P 500 or another index, 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 in 2024.
  • Structured Settlement Annuity Company Customer Service Phone Numbers
    Receiving structured settlement payments from your own structured settlement or inherited structured settlement? You'll like this huge time saver. Click the title for a link to 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, Allstate, Transamerica, AEGON, GE Capital, Liberty, CNA, Confederation Life), oran annuity issuer has changed its name and you're trying to track them down. Here you go! The list is regularly updated. Last updated May 20, 2024.
  • 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.
  • iStructure |Uncapped Fixed Index Structured Settlement Annuity
    iStructure is an innovative game changing fixed index structured settlement annuity for plaintiffs or attorneys. with an intermediate to long term horizon
  • Structured Settlements and Longevity Risk| What Are the Odds?
    Do your financial resources give you enough road, or will the road run out before you do? A structured settlement annuity helps mitigate the risk of outliving your savings, no matter how long you live. A structured settlement can include one or more customized payment streams and types.

Qualified Settlement Funds

  • What is a Qualified Settlement Fund?
    Qualified Settlement Funds | What You Need to Know
  • Firmwide Qualified Settlement Funds Debunked
    Firmwide qualified settlement funds have been heavily promoted to trial lawyers, but have been debunked in a detailed analysis in a July 2022 legal opinion a tax partner at the law firm of Faegre Drinker Biddle & Reath, LLP. Trial lawyers and firms who have established Firmwide QSFs or coinsidering establishing a Firmwide QSF should read the analysis as part of their evaluation.

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