by Structured Settlement Watchdog
The Words for Friends “paparazzi” have snagged Strategic Capital in an act of “in flagrante publicita”
The messaging that Strategic Capital has been running for years (1) is that it does not advertise on TV and (2) relies on referrals from trial lawyers and structured settlement brokers. It now appears from the screen shot that Strategic Capital is targeting word nerds with structured settlements who are “hooked on Q”
Ric Perez, the Senior Vice President, National Marketing Director of Strategic Capital Corporation, who operates out of Los Angeles, California states on his LinkedIn profile “We do not solicit via TV or print advertisements” as part of the company’s value proposition. (retrieved March 12. 2021). Is there an entitlement to wiggle room for using digital ads, the billboard of today?
What Strategic Capital says on its own website on the page ” Why do business with Strategic Capital”
- We do not advertise on T.V.
- We rely on referrals from professionals like you
Compounding the inconsistency
- Compounding the inconsistency is that Strategic Capital displays the logos of all the trial lawyers associations.
- Clicking on the logos leads to a copy of the purported testimonials. it pays good money to the trial lawyer associations for their endorsements.
- The same purported claim of “no advertising, rely on referrals” is parroted in the “testimonial letters”.
- The key is that Strategic Capital is a sponsor paying thousands or tens of thousands to the TLA. This material fact must be known to any prospective seller.
- Money changes hands. While there is nothing wrong with that, the fact that money does change hands for the sponsorship should be transparent in a disclaimery for the poor folks that have to sell their structured settlement payments.
A. Kentucky Association for Justice (KAJ)
Kentucky Association for Justice letter signed by Louisville personal injury attorney Vanessa B, Cantley, states 9/26/2019
- “Strategic Capital works on referrals from attorneys and structured settlement brokers and financial advisors”
- “Strategic Capital does not advertise on TV”
B. Tennessee Trial Lawyers Association
Tennessee Trial Lawyer Association letter dated 9/29/2019 signed by Matt Hardin, President makes a mountain out of the idea that Strategic Capital ” does not advertise on TV. They work on referrals from you”.” Hardin goes further ” If the client calls you asking about getting cash for a structured settlement and you don’t help they will call the number on line and will sell their annuities, probably for much less than they are worth.
Why did Matt Hardin’s “TTLA-ting” statement not make any sense?
Matt Hardin’s statement doesn’t make sense because the client cannot sell the annuity funding their structured settlement. Any lawyer experienced in structured settlements who properly reviews the terms of the Settlement Agreement and Release as part of their representation should notice that, while an annuity may be purchased as a “qualified funding asset,” the terms clearly state that in the event of an assignment ( most cases), the qualified assignment company retains all ownership rights. The annuitant holds no ownership rights.
Strategic Capital is involved in transactions that nvolve the transfer of structured settlement payment rights, See IRC 5891 (c)(3)(A) Structured settlement factoring transaction
National Association of Trial Lawyer Executives dated 3/16/2017
- ” Does not engage in TV or predatory advertising”
- ” Works on referrals from attorneys and structured settlement consultants”
So if they rely on referrals… then why…? Oh I think you know what I mean.
The Strategic Capital ad to the right also appeared on Facebook and Instagram so far today. It is very clearly directed to consumers and is direct to consumer advertising. Not exactly what it being represented along with their checks, to get paid testimonials from trial lawyer associations in Kentucky, Tennessee, NATLE and so on.
Strategic Capital also has held itself out as a “financial planner” in New York City, as shown in the screen shot on its Google Business listing
A search of Strategic Capital Corporation representatives does not show any with Certified Financial Planner or Chartered Financial Consultant professional designations, insurance or securities licenses, nor do they come up on the FINRA Broker check of IAPD databases. The operative questions is how can that be? How can Strategic Capital hold themselves out as financial planners?
Read what the SEC says about financial planners here
Last updated March 12, 2021