by John Darer, CLU ChFC MSSC CeFT RSP CLTC
Andrew S. Hillman, Founder and General Counsel of Specialty Asset Advisors, a pioneer in the secondary market for structured settlements and has been involved in the business exclusively for over twenty (20) years, has died. Hillman died January 20, 2020.
Mr. Hillman was instrumental in bringing to the capital markets the first financing (securitization) of structured settlement payment streams and advising companies entering into the advance funding markets de novo. He was a primary negotiator of the compromise between the National Structured Settlement Trade Association and the National Association of Settlement Purchasers that resulted in federal and state legislation to foster the orderly and consumer protective transfer of structured settlement payments. Previously, he was a partner in a large Philadelphia based AV rated law firm and an in-house counsel for various banking, financial institutions, and specialty finance companies.
At time of his death Mr. Hillman as been a member in good standing of the Pennsylvania Bar for over 35 years and was an Florida Authorized House Counsel, a member of the American Bankruptcy Institute and of the National Association of Bankruptcy Trustees. Mr. Hillman held a BA from The American University and a Juris Doctor (cum laude) from Temple University School of Law. He was a frequent lecturer and authored and published papers on various financial services related matters.
Mr. Hillman was an avid reader of this blog. He represented tertiary market merchants of factored structured settlement payment streams. He would call me up periodically to "whine" about a particular blog post about one of his clients and he and I often engaged in good natured sparring on the topic of Secondary Market "Annuities". I give Andy credit for engaging at least one of his clients to substantially clear up their website after more than a year of debating.
Rest in Peace Andy.