by Structured Settlement Watchdog
SMA HUB pushed Pedal to the Metal on False Narratives of Receivables Mislabeled Annuity/Secondary Market Annuity for years before going down in flames
Here’s how Lake Oswego Oregon based SMA Hub self described its offerings on Linkedin to financial advisors, including certain settlement planners “The SMA Hub In Stock SMA has already received court approval and has also met our stringent due diligence process. It is immediately available to your client, off the shelf”
Oregon Lawsuit v SMA HUB, HUB Business Trust, NV Partners LLC, Jonathan Walker, Northwest Bank
On April 8, 2024, SMA Hub and co-Defendants have been hit with a new lawsuit alleging Conversion; Unjust Enrichment; Negligence; Oregon Unlawful Trade Practices Act Violations; Breach of Contract; Breach of Implied Warranty; Fraudulent Inducement; Promissory Fraud; Negligent Misrtepresentation; Financial and Elder Abuse 
BETSY GOREN, on behalf of the Estate of Marjorie Goren, Plaintiff,
v.
SMA HUB, INC., HUB BUSINESS
TRUST, NV PARTNERS, LLC,
JONATHAN WALKER, and
NORTHWEST BANK, Defendants.
The elderly client was in her 80s!
🔹 1. The Asset Was a Factored Unum Receivable
The underlying asset was a factored Unum payment stream, not an annuity and not an insurance product. It carried no insurer issuance, no premium‑based obligations, no reserve requirements, and no guaranty‑association protection. The complaint alleges that SMA Hub’s framing created an insurance‑grade appearance around a receivable that lacked every statutory characteristic of an annuity.
The SMA Hub lawsuit is another instance where a receivable is mislabeled as an annuity.
🔹 2. Elder‑Investor Exposure
The plaintiff was an elderly investor who relied on adviser representations and lacked the financial capacity to evaluate or absorb the risks. The complaint’s elder‑abuse theory rests on suitability failure, omission of structural risks, and the investor’s dependence on the product descriptions provided through the distribution chain.
Download Goren v SMA Hub Complaint 2024
As of April 2026, Goren remains in active federal litigation, with the claims unresolved and no merits rulings issued.
The Goren allegations are not isolated. A similar pattern appeared in an earlier matter in which a non‑annuity receivable was sold into a handicapped man’s trust, framed as an annuity despite lacking insurer issuance, reserve requirements, or statutory protections. Both cases involve vulnerable beneficiaries and products that carried none of the characteristics implied by the labeling.
SMA HUB Inc | Better Business Bureau® Profile (bbb.org) lists SMA Hub as unrated and there is an unanwered review from 12/2021
Whether it was the Michael Vick deal, the above is one of a number of similar receivables peddled by financial advisers and certain settlement planners, sourced via SMA Hub, such as the convoluted, misrepresented and disastrous “NBA annuity”, getting in bed with Dan Cevallos and Advanced Funding (see Structured Settlements 4Real® Blog: Structured Settlements | Settlement Planning News and John Darer Reviews: Advance Funding LLC/ Dan Cevallos
SMA Hub “Appointment Paperwork” Doesn’t Walk or Quack Like a Duck and Isn’t a Duck
The Lake Oswego, Oregon company put its new recruits through a seemingly impressive level of paperwork that looked like they were seeking an appointment with an insurance company or insurance brokerage. If a receivable is not an annuity or insurance product (and it wasn’t in fact insurance or an annuity) why all the hoopla to make it look like it was?
Definition of Annuity under Oregon Law
Under Oregon law, “an annuity is an insurance contract typically used in retirement planning. It is designed to protect you from outliving your assets. You pay premiums into the annuity and the insurer promises to pay out money to you or a beneficiary in a series of payments“.
Did any SMA Hub Investor EVER pay an insurance premium to SMA HUB for any of the Receivables?
Had SMA Hub paid stringent attention to detail to the answers of one particular individual who submitted paperwork to them in 2017, they would have noticed an answer marked ” No” to a question “have you ever had an insurance license revoked?”. This was discovered in a recent Court filing posted on April 30, 2024 on the CT Judicial website in reference to a pending case.
The individual had a license revoked in New York in 2016, a date preceding the appointment paperwork with SMA Hub (Source: Agent/broker search results on the website for the New York Department of Financial Services.
Last updated April 17, 2026