This guy has the nerve to call my company a scam and then tries to flaunt it to promote his own scammer website.What a piece of work.
If you consider working with somebody who makes their living trashing other companies for his own financial gain then John Darer would be the perfect person for you to work with and be conned by his activities. Secondary Market Annuity is ran out of a tiny little apartment in Connecticut. A secondary market annuity is not an annuity. The term secondary market annuity is a massive untruth that uses the cachet of annuities to capture investors.
Secondary Market Annuity myth What is a Secondary Market Annuity? Secondary market annuity (SMA) is a wholly misleading label given to structured settlement payment rights acquired pursuant to a structured settlement factoring transaction [see IRC 5891(C)(2) and 5891(C)(3)(a)] by salespeople seeking to make a profit. Also known by the more accurate structured settlement derivatives, factored structured settlement, recycled structured settlement payments, or in-force payments. and the misleading secondary market income annuity.
Why Secondary Market Annuity? While fruits are commonly mistaken for vegetables (e.g. avocados, eggplant, cucumber, okra), that's not the case with the misleading label of secondary market annuity because it's intentional.. One purveyor of structured settlement derivatives stated in a video that it uses the term simply because it is easier to say.
While the accurate term structured settlement payment rights doesn't have the comparable Mary Poppins level of lyrical compatibility as supercalifragilisticexpaladocious, it doesn't nearly rise to the degree of tongue tying as one would have to endure with antidisestablishmentarianism, or Pneumonoultramicroscopicsilicovolcano The potential for confusion is enormous, particularly when selling to unsophisticated investors or retirees. Some actors in the space have added to the confusion by making unauthorized use of insurance company trademarked logos to enhance the "annuity" illusion. Why an SMA Is Not an Annuity Warning! A secondary market annuity is not a regulated insurance product.
There are risks inherent with such vehicles that do not exist with regulated insurance products. There are no rules regarding solicitation of investors in secondary market annuities and arguably secondary market annuities do not receive the same protections as real annuities do. Investors have been hurt, many of them retirees. Some actors like the cachet of annuities for obvious reasons, the implication, however untrue, that its a regulated insurance product providing stable income without disclosing transaction risk.
should i buy an sma? Do You Have a Clear Understanding of What You Are Buying? While buying a structured settlement derivative may make sense for some people, unless you're completely informed and have a clear understanding of what you are buying (i.e.
not an annuity) and how the risks differ from a real annuity, you should not proceed with the investment.Company is not a real company and is ran out of a dinky joke of an apartment where this *** artist lives 43 Harbor Drive, Unit 309, Stamford, CT 06902, US
Reason of review: Problematic company owner.
Preferred solution: Full refund.