W000362
Thursday, November 15, 2001 10:37 AM
Structured Settlements
As a member of NSSTA and a Certified Structured Settlement Consultant, my
comments as they relate to the victims compensation fund are different from
any you will receive from other NSSTA members. That's because I am not a
traditional broker who is licensed and appointed to sell a one-size-fits-all
product: the structured settlement annuity. I work with a
full service, fully-integrated brokerage firm with a focus on securities and
managed products of all kinds. The major difference in the traditional
structured settlement broker and me is that I am a registered rep with the
NASD, and - as you would know - regulated by the SEC as a representative of
a NYSE member firm. I am fully authorized by my firm, and fully qualified,
licensed and appointed to ascertain what product or service is the absolute
most suitable for any given recipient of settlement/qualified fund proceeds.
Suitability is key, and is based on personal and family situations, previous
financial products experience, and myriad intricacies that are only
revealed in some sort of interview setting. Why the long-winded prelude to
my love for periodic payment and the annuity product? There are certainly
survivors who lost the money manager of the house. There are most certainly
lost souls who will not have a clue as to how to manage their financial
affairs. Periodic payments funded by a structured settlement annuity would
most assuredly benefit the overwhelmed, as the internal rate of return is
guaranteed, the beneficiary - in most cases - cannot outlive the payments,
and the principal is managed by the issuer for the benefit of the payee...a
wonderfully mindless way to fund a future. Of course, there will be the
financially astute group of recipients that will only need the comfort of
their trusted financial advisor to plan their families' futures.
Suitability as a strict doctrine of guidance should determine the needs of
others, and should the structured settlement annuity product be deemed most
suitable, my advocacy is undying. I am yours for the best possible result
with each and every victim, and I am yours for a better America.
Individual Comment
Memphis, TN