by Structured Settlement Watchdog
SHP Financial, the Plymouth, MA financial advisory firm repeatedly used the insurer logos and/or registered marks to peddle structured settlement payment rights as annuities
Unless life insurers protect their brands, infringement from the structured settlement secondary market will continue.
See the examples where SHP Financial (shpfinancial) used Twitter to display Life company registered marks to advertise structured settlement payment rights as annuties
SHP Financial acted in a reckless manner by posting, and continuing to post, multiple tweets that structured settlement payment rights are just like a bank CD. For example, please see Prudential below.
Following is a list of the life insurance companies which were affected in recent tweets:
- American General SHP Financial (shpfinancial) on Twitter American General 4-18-2014
2. Allstate Download Shpfinancial_ _You’re in good hands…_ for .. 4-22-2014 Allstate
3. Prudential
4. Athene Annuity SHP Financial (shpfinancial) on Twitter Athene Annuity 4-25-2014Pacific Life
5. Liberty Life/ Liberty Mutual Twitter _ shpfinancial_ Buy this $52k … Use of Liberty Mutual mark to sell payment rights as annuities 4-2-2014
It should be noted that if it were an annuity (and let’s re-emphasize over and over, AND over) a receivable is not an annuity, it would have been issued by Liberty LIfe Assurance Company of Boston. not Liberty Mutual. Where was the SHP Financial compliance department on that one?
Note: It is our policy to alert life insurers to deceptive business practices involving possible violations of their marks by those selling structured settlement receivables to investors as annuities (and they’re not annuities). As a result, life insurers may choose to send a cease and desist letter. Otherwise, they can choose to commence legal action to enforce or protect their trademark rights.
“SHP used insurer marks and even pushed reckless ‘just like a CD’ tweets — but when the issue was raised, they corrected course. And since they operate close to the Cape, course correction mattered even more. Unlike Todd Lesk of MJ Settlements in Coral Springs Florida — who in 2012 was already calling receivables ‘annuities,’ linking to insurer websites, and who upgraded to insurer logos sometime before my March 14, 2014 documentation — SHP backed up the moment the light hit them. Lesk never did.”
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