by Structured Settlement Watchdog®
Pressed into action In the "wee hours" of the morning it required a four alarm "fire hydrant job" for the Structured Settlement Watchdog and pals to respond to reports that James Adler, a New Yorker of 431 East 72 Street New York NY 10021, was held out as a "structured settlement legend" "a decade long structured settlement certified expert" in the press release and on structuredsettlementsexpert.com**. The site is registered to Brian Dean on the date of publication. [note that since the publication of this blog post the aformentioned press releases were removed]
Sounds impressive until you ask the question what "structured settlement" certifying board or authority "certified" Mr. Adler?
- There is the Certified Structured Settlement Consultant (CSSC) offered by the National Structured Settlement Trade Association (NSSTA) in cooperation with the University of Notre Dame
- There is the Registered Settlement Planner (RSP) offered through the Registry of Settlement planners Board, in conjunction with Texas Tech University.
Mr. Adler doesn't appear to have any of these professional certifications.
The National Association of Settlement Purchasers (NASP) does not appear to sponsor any professional designation in an industry whose professionals operate WITHOUT even a licensing requirement.
It would appear that Mr. Adler is a legend in his own mind.
Therefore, the Structured Settlement Watchdog projects what comes naturally on Mr. Adler's "fire hydrant" because the last thing the structured settlement industry needs is someone to undermine the credibility of the industry through puffing or misleading credentials. It's OK to market yourself and the subject matter. Just don't puff!
Adler is quoted as saying:
“I was recently at get-together of financial experts on 5th avenue in New York City, and not one of them was investing in structured settlements. It got me thinking: if the big guns of Wall Street don’t know about this, what are the odds that the average American does?”.
Earth to Mr. Adler: With a "decade of experience" you should already know that Wall Street's big guns DO know about structured settlements. Cue domestic and foreign institutions and hedge funds investing in JG Wentworth, Stone Street Capital, Peachtree and others. And I have been writing about the individual investor segment of the buy side of the market for the last 9 months!
Among Mr. Adler's recommendations… borrowing money from a bank to buy structured settlement payment rights. If the spread is big enough (to make the arbitrage work) perhaps . But that means there's a greater chance that the annuitant is getting screwed.
What has New Yorker James Adler done to earn your trust when it comes to structured settlements?
** please note that 4structures.com LLC acquired the domain structuredsettlementsexpert.com on May 2, 2012 and has no connection with the prior owner of the domain.
Leave a Reply