by Structured Settlement Watchdog
Misleading claims by individuals or companies about their credentials, licenses, or verifiable relevant experience, are detrimental to consumers of financial services and disrespectful to settlement and financial professionals who have legitinately earned such qualifications
In January 2017, a 26-year-old Florida resident launched a website boasting 30 years of combined work experience in the structured annuity industry—quite the feat for someone barely out of their mid-twenties. The site also touts certified expertise and promises to help you plan for retirement, which might arrive sooner than expected if their math is any indication.
What is an industry?
The companies and activities involved in the production of goods for sale- Cambridge Dictionary
What does Structured Annuoty Industry imply?
The companies and activities involved in the production of annuities.
Does Client First Funding issue annuities?
No, purchasing payment rights from structured settlements does not involve the manufacture or sale of an annuity. When a structured settlement factoring transaction is consummated the structured annuity does not move.
Does Peachtree Settlement Funding issue Annuties?
No, purchasing payment rights from structured settlements does not involve the manufacture or sale of an annuity. When a structured settlement factoring transaction is consummated the structured annuity does not move.
What does Years of Combined Experience Mean?
A couple of excellent articles on the subject
- “Years of combined experience” :how does add up? by Harry Styron August 17, 2010
- What is the combined experience of a company? by Dana Sparks
Arguably the sales manager of ” Structured Advisors”, Daniel Mustelier, has no experience in the structured annuity industry (see below). Furthermore, according to Mustellier’s LinkedIn profile on the date of this post, from 2006-2008 the co-owner of the company, Kris Crossley “provided technology and pricing to retail and institutional traders” From 2008-2012 his Linkedin says Commodity Broker and there is a gap from 2012-2017. Crossley had no endorsements for annuities. Let’s forget about certified for a moment. I’m pretty good at math, so where is the 30 years in structured annuity coming from?
“Structured Advisors”
- It does not appear that “Structured Advisors” Sales Manager Daniel Mustelier has any experience in the structured annuity industry.
- Neither he, nor any of the companies with whom Mustelier states has worked for, issues structured annuities.
- Mustelier holds no insurance license in his home state of Florida according to the Florida Department of Financial Services.
- He appears to hold no professional credentials related to insurance or annuities (a form of insurance).
- It appears that Mustelier’s work experience includes experience in the structured settlement factoring industry, which can be clearly distinguished from structured annuities since participants in that industry (1)do not manufacture, (2) are not licensed to sell and (3) do not purchase structured annuities.
- Daniel Mustelier received his Bachelors from Florida Atlantic University in 2014, according to his LinkedIn profile.
- His work experience since January 2012 included about a year as an employee of factoring company Peachtree Settlement Funding where he “Work(ed) alongside attorneys and paralegals to assemble documentation to support an approval for a client’s funding“
- Then he spend 1 year and 4 months at Client First Settlement Funding, another cash now company. That takes us to 2014.
- Structured Advisors is not registered with the Florida Secretary of State, but Mustelier states that he has been associated since January 2017. The website associated with the business was registered to Daniel Mustelier in January 2017, same as Crossley.
In 2016, Daniel Mustelier was booked for resisting a police officer in his hometown of Lake Worth, Florida. Here is the mugshot
What does Certified mean in the context of advisors?
- Certification provides independent verification of a certain level of expertise in a particular area. Basically, it means you have completed the steps required to receive a particular designation. But this basic definition comes with a weakness–in some cases, individuals can become “certified” simply by paying a particular membership fee or by attending the required seminar. Such certifications are meaningless and a waste of time and money.
- Certifications that mean something are about achieving designations that demonstrate to your employer and/or clients that you are, indeed, an expert in a particular area or areas, and that a reputable, recognizable organization is willing to attest to that.
- Advisor Designations: What Does Certified Really Mean? Deborah Nason CNBC August 4, 2016
Where is “Structured Advisors” “certification”?
Conclusion
There is nothing unusual about structured settlement factoring industry spinoffs. But to insinuate something that you are not in advertising to financial consumers should never be tolerated. When it comes to structured settlements or structured annuities only seek advice from credentialed advisors.