Litigation

Structured Settlement Industry Now Turning to Cash Now Pushers Like JG Wentworth For Advice?

By John Darer

Evidence continues to mount that a segment of the structured settlement industry, led by former NSSTA Executive Director Patrick Hindert IS teaming up with the cash now pushers.

• First, Patrick Hindert has long yakked that the growth of the structured settlement industry is through the factoring industry without being able to articulate any justification.
• Second, Patrick Hindert has demonstrated through his writings and actions that he promoter of cash now pusher JG Wentworth
• Third, few structured settlement firms have made any statement one way or another about how they handle factoring of structured settlements. As this author will soon inform every trial lawyer association in the United states, 95% of the industry HAS NOT made a written disclosure, on their website or through the structured settlement transparency initiative declaration. The 95% statistic falls coincidentally in lock step with the report, by Rhonda Bentzen, that 90% of structured settlement brokers take the kick backs that Rhonda Bentzen offers and pays.
• Fourth, a certain number of structured settlement brokers (categorized by Bentzen as cowards) rely on a factoring broker to speak for them.
• Fifth, given Hindert's writings and JG Wentworth's summary of the Cash Now Pushers Thought Leadership Conference-mislabeled by JG Wentworth and Patrick Hindert as the "structured settlement industry thought leadership conference",it appears that the factoring industry is being prostituted to help push through  Treasury guidance on single claimant qualified settlement funds 468B due to 6 years of utter failure and exhaustion of funds of its previous proponents.

Consider some of the points from JG Wentworth's VP Marketing Kenneth Murray taken from the JG Wentworth web site

Note: This author does not recognize the Patrick Hindert delusion of primary and secondary market for structured settlements. The structured settlement industry (what Hindert classifies as the primary market) involves a professional licensing requirement. The factoring industry has no licensing requirement.  The only thing in common between the two is that neither primary trade association enforces the code of ethics it and its members use to solicit your business. This author neither subscribes nor incorporates the ideals of a company that leads its own industry in proven fraudulent cash now advertising. Why should he? WHY SHOULD YOU?

Selected points from the Cash Now Pushers Thought  leadership Conference

Education
The ability for the cash now pushers to educate the structured settlement industry on how to grow the structured settlement industry?

The ability for structured settlement industry to capitalizes on lessons learned and competence developed by the cash now pushers (SEO, etc.)

The ability for the structured settlement industry to sell the positive features of the cash now pushers. Should we simply ignore the fraudulent advertising?

Growth

The ability of (cash now pushers) to educate plaintiff attorneys about the resource available through and with settlement planners. Who needs JG Wentworth for that?

The ability to generate market penetration in excess of 7%

The ability of Treasury to approve 468B funds  <---------------

The ability of the cash now pushers to co-develop the structured settlement brand with the structured settlement industry

The ability to develop and finance the growth across the entire continuum of the structured settlement industry

Download SSTLC From JG Wentworth website Ken Murray CMO

Full post as published by Structured Settlements 4Real on January 17, 2009 (boomark / email).