Fraud Protection Blog
Structured CD Offerings and Elderly Financial Customers
The current financial atmosphere has resulted in very low interest rates on savings and investments. Elderly customers are finding this to be a real problem. What do you do when a bond is called early or when a CD comes due? Some banks and financial institutions are offering what they call a structured CD. It promises higher interest rates than current CD products, and it comes with FDIC protection. Or does it? Read more.
Why Applications Matter
It does not matter whether you are filling out a financial services application or an insurance application for your first or tenth time. Pay attention. Applications matter. That is especially the case when the representative you are dealing with says that they aren’t really that important or that the representative will fill out the application for you. Read more.
What Are Your Qualifications?
You generally want to know the qualifications of the professionals with whom you deal. You generally like to know that your doctor went to medical school and that your lawyer went to law school. Why then, when you go into your bank and you are solicited to purchase financial products, do you assume that you are dealing with a qualified professional? Read more.
Pension Plan Dipping
It has been a tough couple of years for business. Just as it seemed that the economy was finally lifting out of the doldrums, it looks like we are getting another dip. Business is off, and it is tough to meet expenses in the company that you worked to build. Suddenly, you realize that you can dip into your company’s employee benefit plan to raise necessary funds. You better think again. Read more.
Annuities for the Ages
You are quickly approaching or even past acknowledged retirement age. You wonder what happened to the rich investment returns when you were younger. Bank accounts, money markets, and CDs are paying almost nothing. There are higher returns available, but the continuing financial turmoil makes the risks of investing in the stock market, junk bonds, and real estate at your stage of life unacceptable. Then your financial advisor tells you that he has just the answer for you -- an OLD but NEW product! It is a safe annuity guaranteed by a mammoth insurance company. So that's the answer, right? We need to talk. Read more.
Defining Liability for a Faulty Defined Benefit Plan
Clients who come to you with a defective benefit plan must travel a rocky and dangerous road to arrive at a safe solution. But there are resources available to help fund that trip. Help your client not only get the plan into compliance and solve the issues with the IRS, but also help your client seek the means to fund the solution including compensation for what he has gone through and will go through. Consult experienced counsel who can help you protect your client’s rights. Read more.
Avoiding the Tax Man’s Revenge
An insurance agent can provide helpful tips on how to receive tax benefits from various retirement and pension plans. However, you put yourself in the hands of others to properly protect you and to make sure that the 412i plan, the 419 plan, or the VERA plan that they recommended to you were appropriate and properly set up. When they fail, they need to pay to solve the problems they caused. Read more.
