As promised here is the forth and final installment of my podcast series with Matt Bracy of Settlement Capital on the topic of factoring in the structured annuity business. This final installment is primarily discussing the role of trial lawyers, settlement professionals and financial planners in working with factoring companies.
As mentioned in our previous posts, this series has been designed to educate our audience about what factoring is, it's professional origins, who the key players where and the battles fought over the last decade in which some degree of regulatory and statutory control of the industry was created. I also wanted to begin the discussion of the ethical issues facing trial lawyers, settlement professionals and other financial planners in working with factoring companies to assist clients who are looking to cash in their annuities. This is probably the most contentious area of our industry at the moment, as many firms buy lists, solicit trial lawyers and now some life markets are entering the business and soliciting their own annuitants. How these ethical and legal issues are resolved will go a long way in shaping the next 5 to 10 years in our industry.
Next week I will be commencing a discussion of the marketing and compensation disclosure issues involving factoring and settlement companies, as one of the real hot button issues is the sense by many in the settlement business that factoring companies have come to dominate the word search and search engines when people come looking for structured settlements. This should be a lively issue for the rest of the summer and I welcome your suggestions for topics, guests and debates.