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Fly By Night Estate Planning Firms Under Regulatory Pressure
Recently, Remington Estate Planning Services of Florida, Inc. (related to Senior Estate Services), United Seniors Alliance in Wisconsin, and Alliance for Mature Americans of California all have come under regulatory scrutiny.
Each is alleged to snare the elderly in costly, often worthless, estate planning schemes, not tailored to the customer's needs, often not in compliance with state laws, and not even funded with assets. Benefits are exaggerated and disadvantages are ignored.
Additionally, the estate planning "services" are accompanied by the sale of hefty commission annuity products, which tie up customer assets and cannot be withdrawn without penalty.
Source: Investment News, July 17, 2000
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Sponsored by James J. Eccleston, an attorney representing stockbrokers, financial planners and
investors nationwide in arbitration, litigation and regulatory matters, and a shareholder with the law firm
Shaheen, Novoselsky, Staat, Filipowski & Eccleston
P.C.(www.snsfe-law.com). This Web site contains material
of general interest. It is neither intended to, nor constitutes, either legal advice or investment advice.
Always consult an attorney and/or investment advisor when building and protecting your wealth.
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