Matt Sapaula

  • PHP – People Helping People
  • 7 Figure Squad
  • 2019 0614 – 7 Figure Squad – Matt Sapaula – How the Rich Get Richer Using Life Insurance ft. Douglas Andrew – [VIDEO-YouTube-42:35]
    •  – People don’t know what they don’t know – Awareness
    • 26 – “Strategic Rollout”

IUL – Retirement Income – Loans

  • 2018 /2019 – SOA – Why Indexed Universal Life Income Streams Need to Be Managed
    • 2018 10 – SOA – Why Indexed Universal Life Income Streams Need to Be Managed-Part 1, By Ben H Wolzenski and John S. McSwaney – p28-31 – soa.org/4934ca/globalassets/assets/library/newsletters/product-development-news/2018/october/pro-2018-iss111.pdf
      • WHAT’S THIS ABOUT AND A QUICK BO TTOM LINE
        • Wolzenski: John, over the past decade working with producers, you’ve observed that most Indexed Universal Life (IUL) new premium comes from sales that illustrate policy loans or withdrawals, either for retirement income or to repay premium financing.
    • 2019 – SOA – Why Indexed Universal Life Income Streams Need to Be Managed-Part 2, By Ben H Wolzenski and John S. McSwaney – 4p

Charles D. Oliver

  • 2013 – LC – In the Matter of CHARLES D. OLIVER, AMERICAN EQUITY ADVISORY GROUP, LLC, and “THE CHUCK OLIVER TEAM,” Respondents. In the Matter of STEVEN H. MINNICH, Respondent.
  • 2014 – LC – Washington State – Missed Fortune – Doug Andrew – CFLID
  • 2014 – prlog.org/12341846-charles-oliver-of-hidden-wealth-system-announces-sponsorship-of-nations-coaches-golf-classic.html
  • 2015 – LC – Charles Oliver v. Burgess (CFLID – Center for Life Insurance Disputes) —  [BonkNote]
    • 6:2015cv00306
    • Florida Middle District Court
    • 02/27/2015 06/04/2015
    • Pacer – Yes
  • 2018 – LC – John Richardson, et. al. v. Charles D. Oliver, et. al
    • Case No. 2018-CA-6721
    • Circuit Court in and for Duval County, Florida on September 28, 2018
  • 2019 – LC – James Hall, et. al. v. Charles D. Oliver, et. al.,
    • Case No. 16-2019-CA-003402-XXXX-MA
    • Circuit Court of the Fourth Judicial Circuit in and for Duval County, Florida
  • 2019 – LC – Gordon R. Edwards vs. Life Insurance Company of the Southwest (LSW) 
  • 2019 – LC – CHERYLL HALL Et Al VS CHARLES D OLIVER Et Al
    • Court – Duval County – Fourth Judicial Circuit Court
    • Courthouse – Duval County Downtown
    • Duval, Florida
  • 2013 – LC – Washington – 13-0108
  • insurance.wa.gov/sites/default/files/documents/13-0108-order-terminating.pdf
    • 3. OIC reeeived a complaint from consumer FLR, who alleges that she went to Mr. Minnich in early 2009 seeking financial planning for retirement. She met in person with Mr. Minnich several times. During some of those meetings (there is evidence that it was at least five), they had telephone conference calls or webinars with Mr. Oliver, who was providing back-office support and mentoring to Mr. Minnich about a process called “Missed Fortune” or the “Max Funded” Concept.
    • 4. Mr. Minnich and Mr. Oliver sold FLR one life insurance policy with Life Insurance Company of the Southwest (“LSW”) with a death benefit of $1 ,000,000 and subsequently a second policy with OM Financial Life Insurance Company (“OM Financial”) with a death benefit of$1,093,027. They also sold her an LSW annuity with a premium of$100,500.
    • (p8) – FINDINGS OF FACT:
      • 3. OIC received a complaint from consumer FLR, who alleges that she went to Mr. Minnich in early 2009 seeking financial planning for retirement. She met in person with Mr. Minnich several times.
        • During some of those meetings (there is evidence that it was at least five), they had telephone conference calls or webinars with Mr. Oliver, who was providing back-office support and mentoring to Mr. Minnich about a process called “Missed Fortume” or the “Max Funded” Concept. 
  • 2014 – LC – Washington – 14-0229
  • insurance.wa.gov/sites/default/files/documents/14-0229-notice-hearing.pdf
    • Charles D. Oliver and American Equity Advisory Group, LLC (collectively, “Oliver”) submitted a Demand for Hearing (“Demand”), filed December 3, 2014, requesting removal of a blog post of the Office of Insurance Commissioner’s (“OIC”) related to an Order to Cease and Desist (“C&D Order”) issued against Oliver.
    • Oliver asserts in the Demand: 1) the blog contains false statements; 2) the C&D Order has been superseded by an agreement between Oliver and the OIC, and the blog post contains a dead link to the superseded C&D Order; 3) maintaining the blog is an ultra vires action by the OIC; 4) the C&D Order was false at the time it was issued without an opportunity for prior response or rebuttal; 5) the blog post is causing out-of-state individuals to cease doing business with or refrain from doing business with Oliver; 6) the blog post has been picked up by out-of-state individuals who now rely on it to falsely disparage Oliver, thereby causing business harm; 7) the blog does not serve any legitimate purpose of the state of Washington or its citizens, but instead is being used to further punish Oliver.
  •  – CHARLES OLIVER AND AMERICAN EQUITY’S RESPONSE TO INSURANCE COMMISSIONER’S MOTION TO DISMISS – 37p
    • (p28) – Beware The Hidden Wealth System by Chuck Oliver
      • Is Chuck Oliver misrepresenting the features of life insurance and omitting the costs of policies, to the public, in order to get them lo buy life insurance? The same question can be asked of Patrick Kelly, Doug Andrew, Nelson Nash and Pamela Yellen.
      • It’s not surprising Mr. Oliver Lists one of his credentials as a Certified TEAM Member of Douglas Andrew’s Missed Fortune. We have been warning people about the dangers and fallacies of the Missed Fortune scheme for years, and have saved many people from losing money in that scheme. Now we have Mr. Oliver and the Hidden Wealth System. The Insurance Commissioner of Washington issued a Cease and Desist against Mr. Oliver, his team, agents, employees and affiliates, on April 4, 2013.
        • To read the details use this link: Cease and Desist against Chuck D. Oliver. Among the near-dozen violations of state law cited by the Commissioner, Mr. Oliver is accused of selllng insurance without a license and making misleading representations of an insurance transaction.  
    • insurance.wa.gov/sites/default/files/documents/14-0229-oic-reply-dismiss.pdf
    • 2015 0304 – Washington Office of Insurance Department – Charles D. Oliver and American Equity Advisory Group, LLC. – Docket No. 14-0229 – Order on Insurance Commissioner’s Motion to Dismiss – 7p
      • (p6) – Judge George Finkle (Ret.), Presiding Officer  – 15. Although I recognize that the blog post may be painful for Oliver, the post was not and is not false – the C&D Order was issued and included the allegations set out in the post.
        • The C&D Order was not demonstrated to have been unlawful.
        • The post is not ultra vires or without legitimate purpose (for the reasons discussed in Gold Seal and above — public awareness of Insurance Code enforcement and showing that the Commissioner is meeting his responsibilities).
        • The possible adverse business impacts of a lawful post (which I assume for purposes of this Order to exist) do not render the post unlawful or require its removal.
      • 16. Further, directed removal of the blog post would undermine the public’s interest in free access to accurate information concerning the OIC’s actions, including its communications, and would risk compromise of agency transparency as well as public oversight.
  • 2020 – LC – Gary Giordano, et. al. v. Charles D. Oliver, et. al.,
    • Case No. 2020-CA-000548-15-L
    • Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida
  • 2020 – LC – Markel American Insurance Company v. Oliver, NATIONAL LIFE GROUP (“NLG”)
    • 6:20-cv-01223-RBD-DCI
    • Date filed: 07/09/2020, Date terminated: 02/04/2022
    • Date of last filing: 03/09/2022
    • Document 1 – Complaint –
      • 1. In this action, MAIC seeks a declaration that: (a) it does not owe a duty to defend or indemnify Oliver, HWM or AEAG (collectively referred to as the “Insureds”) in a lawsuit captioned Gary Giordano, et. al. v. Charles D. Oliver, et. al., Case No. 2020-CA-000548-15-L, filed in the Circuit Court of the Eighteenth Judicial Circuit in and for Seminole County, Florida (the “Giordano Lawsuit”);1 and (b) that it does not owe a duty to defend or indemnify Oliver or HWM in a lawsuit captioned James Hall, et. al. v. Charles D. Oliver, et. al., Case No. 16-2019-CA-003402-XXXX-MA, filed in the Circuit Court of the Fourth Judicial Circuit in and for Duval County, Florida (the “Hall Lawsuit”).2
  • 2021 – LC – Alan Mansfield vs Life Insurance Company Of The Southwest, Charles D Oliver As Agent of Hidden Wealth Management LLC
    • Filing Date – 12/13/2021
    • Seminole County – Eighteenth Judicial Circuit Court
    • 2020 – LC – ORIGINAL CASE 2020CA548 
  • Pacer
  • 2020 – LC – Markel American Insurance Company v. Oliver
    • 6:2020cv01223
    • Florida Middle District Court
    • 07/09/2020 – 02/04/2022
  • 2021 – LC – Oliver et al v. Zurich American Insurance Company
    • 6:2021cv00763 
    • Florida Middle District Court –
    • Start  04/29/2021 – End-11/23/2022
    • Court: US District Court for the Middle District of Florida
    • 2022 1122 – LAW360 – Insurance Agent Not Covered For Ponzi Investment Advice, by Elizabeth Daley – [link]
      • The insurer for a life insurance agent doesn’t have to defend against underlying accusations that he led clients to invest in a $310 million dollar nationwide Ponzi scheme, because of a…
  • 2022 – LC – re: American Equity Advisory Group, LLC
    • Case No. 22-bk-02889 (Bankr. M.D. Fla., Petition filed Aug. 12, 2022).
    • American Equity sought Chapter 11 bankruptcy protections in August 2022
  • 2023 – LC – Michael Grossman v. Charles Oliver and American Equity Advisory Group, LLC, a Florida limited liability company
    • Case No.: 6:23-cv-1804
    • United States District Court – Middle District of Florida
    • 15. In August 2022, American Equity sought Chapter 11 bankruptcy protections in August 2022. In re: American Equity Advisory Group, LLC, Case No. 22-bk-02889 (Bankr. M.D. Fla., Petition filed Aug. 12, 2022).
    • 16. According to a Case Management Summary filed in that matter, the reason American Equity sought bankruptcy protection was an onslaught of litigation against Mr. Oliver and American Equity stemming from their recommendations that clients invest in Future Income Payments, LLC, another massive Ponzi scheme shut down by the U.S. Department of Justice and the subject of multiple state and federal regulatory actions. Id. (Chapter 11 Case Management Summary, filed Aug. 12, 2022).
  • 2019 – LC – GORDON R EDWARDS vs LIFE INSURANCE COMPANY OF the Southwest – 16-2019-CA-003341
  • 2020 0729 – DEPOSITION OF MICHELE DUNGWORTH, [LSW – Compliance] – TAKEN ON BEHALF OF THE PLAINTIFF – 95p
    • (p20) – Q Okay. By the way, has there been a Florida market conduct examination of Life of Southwest or the National Life Group since you joined the company?
      • A No.
      • Q I didn’t think so. I their website is not terrific but I have to ask just to find out. 
    • (p21) – Q Okay. I want to make sure that I understand it. That Life of Southwest did not treat Life insure high premium life insurance policies like these where the idea is to pay policy loans as retirement benefits. Those are not considered to be annuities at Life of Southwest?
      • A No.
    • (p23) – [2014 – Washington – Oliver]
      • Q Was any disciplinary action internally brought against Mr. Oliver after the situation came to light in the State of Washington?
        A I am not aware of anything by the company.
    • (p24) – A I did take a look in the file and unfortunately I don’t think the records were as good as I would expect them today. I think the other confusing matter on that particular situation is this to actually- this began — this investigation began by the state of Washington in 2011 and actually Mr. Oliver was not even named in that initial investigation. It was another agent named Steve Minnich with the complainant. So, I think that was some of the confusion on that.  Everything was posted under Mr. Minnich’s name and not Mr. Oliver’s name.
      • Q Okay. Did you look at the actual consent order that the Life of Southwest signed?
      • A I actually did not. I do not have a copy of the signed one by LSW.
      • Q Well, let me see if I can help you out.
      • A Okay. That would be fantastic.
    • (p28) – [Sold by vs Commissions Received]
    • (p31) – Q Was he provided with any remedial training?
      • A I cannot tell that by the file either.
    • (p32) – Q Okay. And in that case if we look at Paragraph number 14, Life of Southwest apparently agreed to rescind the policy and refund the insured’s premiums with interest, which was done. Is that correct?
      • A Correct.
      • Q Of course that was under the threat of the office of insurance commission in the state of Washington suspending Life of Southwest certificate of authority to do business in that state, right?
      • A I don’t know because I’m not aware of this particular item.
    • (p32-33) – Q After Life of Southwest consent order do you know that if it did any internal training with its operational people or the folks that deal with the agency force to make sure we don’t have a problem like this again somewhere?
      • A I didn’t see anything within the file.
      • Q You’re not disagreeing with this that Mr. 6 Oliver did something wrong here, right?
      •  MR. BIARD: Form.
      • A I’m not disagreeing that he did something wrong. I guess I disagree with Washington’s findings right now based on what I see.
    • (p3) – Q (By Mr. Liggio) Okay. Now, in Washington’s findings, did the Washington Insurance Commissioner also did a blog post on this that caused some outrage on the part of Mr. Oliver. Have you seen that blog post?
      • A No, I have not.
      • Q Okay. I’m going to share another page. Let’s look at it together, and it’s actually Page 299 of 299.
      • ….
      • Q “We received the complaint from a woman who despite the fact she was unmarried and has no children and bought two $1,000,000 life insurance policies under annuity from Oliver and the associate Steven Minnich.”  Do you know if Life of Southwest did anything to analyze whether she was an appropriate customer for selling two $1,000,000 life insurance policies and a annuity to, do you have anything in the file?
        • A Nothing in the file.
        • Q Okay. And if you see that the State of the Commissioner of the State of Washington talks about a scheme called maximum funding or misfortune concept. Are you familiar with the maximum funding or misfortune concept?
        • [Bonk: “misfortune concept” = Typo.  Should be “Missed Fortune” – Doug Andrew
    • (p35-37) – [Bonk: Complaints, Communication,
      • Q Well, is it the law — are you telling me that the lawsuits are not considered complaints?
        • A No. They are not
    • (p37) –
      • Q All right. So, going back to look and to see what the insurance commissioner wrote. Do you know by the way does a misfortune concept comply with internal policies — internal compliance policies at National Life or Life of Southwest?
        • A I have no idea what misfortune even means.
        • [Bonk: “misfortune” = Typo.  Should be “Missed Fortune” – Doug Andrew
    • ………….
    • (p47) – Q A different department?
      • A Different department, yes.
    • (p49) – outside of the scope of their license
    • ………….
    • (p58) – Matthew Desantos,
    • (p59) – Q (By Mr. Liggio) And I want you to assume that this future income payments situation, the Ponzi scheme aspect of it, became public knowledge either 2018 or 2019. Is that correct?
      • A I knew about it probably like July or August of 2018 is when I first heard about it.
      • Q Were the compliance folks asked to do anything or did you do anything, asked or not, to determine whether sales of life insurance policies of the Southwest — Life Insurance of the Southwest policies along with this future income payments met with Life Insurance of Southwest protocols and procedures?
      • A No.
  • 2022 – LC –
    • Ponzi Scheme
  •  – LC – RAYMOND WIDICK -VS- ALLIANZ 

Doug Andrew – Missed Fortune 101

  • 2005 – Book – Missed Fortune 101, by Doug Andrew – 297p
  • 2007 – Book Review – Missed Fortune 101, by Doug Andrew’s – Review by Doug Thorburn – [link]
    • Every flimflam man knows that the con must be carefully layered around a kernel of truth for credibility. Missed Fortune 101 by Doug Andrew succeeds in this by wrapping a number of preposterous ideas and prevarications around four basic and true axioms.
    • They are: (1) income is taxed in what are essentially “chunks,” (2) the only relevant tax rate for decision making is the marginal rate, (3) tremendous wealth can be created by borrowing at one rate and investing at a higher rate, and (4) universal life insurance can be a valid investment by which to build wealth and a tax-free income stream. Everything else in this book is not only utter nonsense, but potentially lethal to one’s financial health.
  • 2013 0704 – LC – Cressy vs FG Life, OM Financial, Doug Andrew, Paramount – Complaint for Damages and Equitable Relief – 39p  —  [BonkNote]
    • (p18) – 46. The uniform and deceptive message delivered through. the Missed Fortune marketing materials and each step of the True Wealth transformation process was two-fold.
      • First, and consistent with their TEAM training, the Missed Fortune Producers falsely touted themselves and Douglas Andrew as expert financial advisors and highly trained investment professionals, working for the clients’ best interests when in fact they were operating for the sole purpose of selling life insurance. Secondly, that by following the Missed Fortune Producers’ expert advice and purchasing the policies in question the clients would obtain safe, liquid, “investment grade” policies using home equity funds and other capital that would create greater wealth and security than other investments, when in fact the life insurance policies were not appropriate investment vehicles.
      • (p19) – The Conspiracy
        • 47. OM Financial/FG Life, Andrew and Paramount Financial conspired together and with others to perpetrate the fraudulent Missed Fortune scheme.
  • 2005 0906 – Victoria Advocate – Taking ‘Missed Fortune 101 ‘ to the reality lab, by Scott Burns, Investors Network – Page 7 

06 Sep 2005, Tue Victoria Advocate (Victoria, Texas) Newspapers.com

MoneyTrax – Circle of Wealth

  • “Private Reserve Strategy”
  • 2003 – Book – Your Circle of Wealth, by Donald L. Blanton
  • 2007 – Book – Maximize Your Circle of Wealth: Learn How to Recover Wealth Transfers in the Millions of Dollars Over Your Lifetime, by Donald L. Blanton and Elizabeth M. Sanders
  • MoneyTrax – Circle of Wealth – Ten Minute Lesson on Life Insurance – cow.moneytrax.com/f1/cow_fmli2_natlifegrp.htm
    • Example Script
    • There is the “minimum one can pay” for a given amount of insurance coverage for a specific age and the “maximum one can pay”.
      • Who determines the minimum? The Insurance Company.
      • At the other end of the spectrum is the “maximum one can pay” for a given amount of coverage. And who determines that… besides you? The government.
  • [Bonk: 2015 – LC – Walker vs Life Insurance Company of the Southwest – TRIAL DAY 11 – Case 2:10-cv-09198-JVS-JDE Document 820 Filed 12/01/15 Page 40 of 279 Page ID # 33532  —  [BonkNote]
    • A: Jeffrey Stemler, Agent:  This is — when we are sitting down talking about insurance, we try to explain to the prospects exactly how the insurance works.
      • So this is part of our talk that we give to explain how it works.
        • So this would be a build slide.
        • This didn’t just start there.
      • I drew a line on the bottom and I said:  When you buy insurance, there is a minimum amount that you must pay for insurance to pay for the costs and put the policy in force.
        • And I drew the line and I wrote minimum, and I would ask who do you think sets that price.
          • Some people will say: I don’t know.
          • Others: Well, the insurance company.
          • I go, yes, you’re correct.
        • And I said: They have actuaries, and the actuaries, their job is to figure out how much they need to collect for any given amount based on the age of the person so that they can cover the risk and also still make a profit.
      • I said: But there’s another line that we need to be  concerned about, and then I draw the line up on top and I put the max there.
        • And I say this is the maximum you can pay for a contract.
          • I said: Do you know who sets that limit?
          • People will often say: Well, the insurance company; right?
          • And I say: No. It’s actually the government.
      • In the example we’ll often say: Well, let’s just assume that this is $500,000 that we are dealing with here and the minimum premium is a thousand dollars and the maximum premium is $5,000.
        • Why would anyone put $5,000 into a contract if you could buy the same amount of coverage for only 1,000?  

2018 – VIDEO – The Power of Zero: The Tax Train is Coming – David McKnight

  • Tax Rates
    • 2 – 94%
      • Ronald Reagan
    • 1970s – 70% 
    • Now
  • Debt, Deficit and GDP
  • 5 – Martin Eichenbaum
  • Trump – 
  • Nada
  • 6 – Laurence J. Kotlikoff, Professor of Economics, Boston University, US Presidential Candidate
  • Tom McClintock
  • Tom Hegna, Author, Speaker, PBS Host
  • Van Mueller, Speaker and Financial Advisor
  • –
  • Joseph H. Davis
  • 8 – Hegna
    • Old people don’t spend money
  • 9 – Ben Bernanke
  • 9 – Eichenbaum
  • 10 – Alan Auerbach
  • 10 – David Walker
  • Scott Howell, Gary Herbert – Utah Governor
  • 10 – Hegna
  • McClintock
    • post war boom
  • 12 – Armstrong
  • 12 – re: CBO, OPM, – All saying we have a problem
  • Maya
  • 13 – Ben Bernanke – CBSN
  • Eichenbaum – re: Trump People, entitlements, paying more taxes
  • Nada
  • David Walker – US Comptroller General – 1998-2008
  • Nada

  • 18 – Van Mueller

  • 18 – Don Blanton, President, MoneyTrax, Inc., Financial Advisor
  • Van Mueller
    • Social Security, Medicare, Medicaid, the UnAffordable Care Act, 
  • 19 – David McKnight – Social Security
  • 20 – Van Mueller – Biggest birth years
  • 21 – Greg Glassman, CEO, Crossfit
  • Nobody wants to have the hard conversation
    • Why is it being swept under the rug?
  • 22 – David Walker
    • 1983 – Social Security Reform
      • Reason – Trust Fund was going to go dry in a matter of months.  Social Security payments.
  •  – 
  • 23 – Nada – Perhaps even double tax rate
  • Auerbach
  • 24 – Procrastination, kick the can down the road
    • Reduced benefits – Nobody will allow that to happen – Dramatic Tax Increases
  • 24 – Van Mueller
  • re: David Walker – 60 Minutes – 2008 – Tax Rates will have to double. – 4 letter word – Math – Politicians aren’t proficient at that
  • nada – Higher tax rates / cut spending – fulfilling promises
  • 26 –
  • Sovereign Debt Crisis
  • 28 – Bond Markets
  • Federal Debt Held by the Public
  • 30 – George P. Schultz, Former Secretary of State, Secretary of Treasury, Hoover Institute – Distinguished Fellow
  • 30 – David Walker
  • 31 – US Budget – Discretionary vs non-Discretionary – Promises
  • George P. Schultz, Former Secretary of State, Secretary of Treasury, Hoover Institute – Distinguished Fellow
    • Interest Rate – 0%
    • Deficit
  • 33 – Book – The Power of Zero – Self-Published – Book Version of Presentation
  • 01:00:00 – Van Mueller
  •  – Ed Slott
  • David McKnight – 401ks – Maximize Cash Flow
  • Don Blanton – Loan – 
  • 01:06:00 – Don Blanton –
    • [Bonk: Walker v LSW –
      •  
  • 01 – Laurett Sanchez – The Raft Strategy
  • 01:08:00 – David McKnight – Reposition dollars from Tax-Deferred to Tax-Free
  • Ed Slott – 
  • 01:10:00 – 
  • 01:12:00 – Elizabeth Warren
  • Van Mueller
  • End – Armstrong Williams, TV Host, Radio Host, Author, Commentator

Doug Andrew – Connections

  • David McKnight
    • 2023 0828 – The Power of Zero – David McKnight – The Truth About Doug Andrew and His Retirement Philosophy  —  [BonkNote]  —  [VIDEO-YouTube-10:21]
      • pre-9 – Differences between Doug Andrew and David McKnight
      • 9 – David McKnight – Doug is a pioneer in this industry. Done more to expose the benefits of Indexed Universal Life than anyone on the planet.
  • David McKnight – Connections
  • GFI – Global Financial Impact
    • 2023 0815 – Diberli – Pinnacle Elite Overview by Eric Olson of World Financial Group  —  [BonkNote]   —  [VIDEO-YouTube-35:39]
      • Eric Olson – GFI – Former WFG – World Financial Group
      • 15-?- Indexed – Hybrid of Fixed and Variable, Can’t lose any money. Stairway to heaven, upside no downside. Most people don’t know about Indexed. Because people don’t have the right licenses. Tax now, Tax later, Tax Advantaged / Free. Farmer / Seeds / Harvest – Government, 401k, Benefits the government, 
    • 2024 0313 – Power 3 Financial – WFG v. GFI: Industry insights with Money Mythbuster – [Matt Schloss] – [VIDEO-YouTube-46:08]
      • Doug Andrew – LaserFund
      • WFG – Transamerica – IUL
      • 12 – Laser Fund – That’s the right way to do it.
      • Casey Dahl – Target Premium – Goal amount that they need to contribute to keep the policy in good standing. That’s your flexibility. Get your Target premium in and we’re solid.
      • 2024 05 – GFI Global Financial Impact – LinkedIn – Huge announcement! This Monday, May 20 we will be having special guest speaker Doug Andrew on Millionaire Monday. Bring your associates bring your team, all 12,500 agents will be there on zoom, it’s going to be great. See you there! – 
  • IMG – Integrity Marketing Group
    • FFL – Family First Life
    • PHP – People Helping People
      • 2019 0614 – 7 Figure Squad – Matt Sapaula – How the Rich Get Richer Using Life Insurance ft. Douglas Andrew – [VIDEO-YouTube-42:35]
        •  – People don’t know what they don’t know – Awareness
        • 26 – “Strategic Rollout”
  • WFG – World Financial Group
    • 2023 1103-1105 – WFG – The Prosperity Blueprint, Inner Warrior’s Guide to Wealth & Happiness, World Financial Group – [link]
      • Wyndham Houston near NRG Park / Medical Center, 8686 Kirby Drive, Houston
      • Our Distinguished Speakers Include:
        • Doug Andrew: The expert behind “3 Dimensional Wealth,” providing wealth-building wisdom for our next generations
    • 2023 1104 – LIFE180 – Live From WFG Meeting | Doug Andrew Keynote Reaction – [VIDEO-YouTube-01:02:14]
  • PHP – People Helping People  —   PBD – Patrick Bet-David
    • Matt Sapaula – 7 Figured Squad, Money Smart Guy
    • 2018 0205 – 7 Figured Squad –  –  [VIDEO-YouTube-01:]
      • Description:  When they first began with PHP Agency in Jan 2015, one of the first questions they asked CEO/Founder Patrick Bet-David was, “Can we co-brand? Can we build a company within a company?” “Yes!”, he said. They co-branded within PHP Agency is the Money Smart Movement. Today, they have offices utilizing the PHP Agency Blueprint to establish offices coast-to-coast.
      • They are based out of Oakbrook Terrace, IL a suburb of Chicago, IL.
    • 2019 0614 – 7 Figure Squad – How the Rich Get Richer Using Life Insurance ft. Douglas Andrew – [VIDEO-YouTube-46:35]
      • Description: It’s where Dave Ramsey and Susie Orman get lost about life insurance. If you thought you were doing something right, then found out it was wrong…when would you want to know? NY Times best-selling author, Douglas R. Andrew dropping wealth building strategies…that didn’t lose a dime when the Great Recession hit. 
    • 2021 0303 – 7 Figure Squad – Why Millionaires Are Buying Life Insurance MORE Than EVER – Interview With Douglas Andrew – [VIDEO-YouTube-41:19]
      • 15 – Doug Andrew – EF Hutton, BTID
      • 16 – Doug Andrew – Universal Life was created for Living Benefits
      • 17 – Swiss Army Knife, Knock the Socks off, Create Illustration, Taking out income, compare to 401k, Municipal Bonds,
        • Consumer – I don’t need insurance, I don’t want to pay for Insurance.
        • Doug – Who’s Paying for Insurance? It’s not costing — It’s making money.
      • 19 – I’ve done it for 45 years. Don’t follow the herd. 
      • 20 – NFL Football Player – Loans from IUL – Orange Theory
      • 20 – Wealthy people are buying more Life Insurance than ever.
        • Walt Disney, JCPenney, Ray Kroc, David Walker – GAO – I’ll tell you where to put your money, a Universal Life. 
      • 22 – 2008 Financial Crisis – AIG
        • Savings and Loans
      • 23 – Insurance Companies would be the last domino to fall, Banks would be collapsing
      • Great Depression. 
      • Warning – We would be able to pull out money because it is so liquid. 
      • BOLI
      • 25 – Does that make sense?
      • 26 – Get Rich Quick Schemes
      • Liquidity, Safety of Principal, Rate of Return (7-10%)
      • 27 – Crypto, Bitcoin
      • 27 – Dougs Previous Returns – Black Monday, 2008
      • 28 – Serious Cash – 
      • 29 – You Rocked the Stage at the event today
      • 29 – Talking to first year Insurance Agents
        • Don’t listen to naysayers
        • etc
        • Helping people
        • Can’t outlive their money in retirement
      • 30 – Brother – I never thought he would use the Death Benefit. Died at age 50
      • Zig Ziglar
      • Tim Tebow

SGLI – Servicemembers’ Group Life Insurance

  • 2011 – AP – Analysis of Servicemembers’ Group Life Insurance (SGLI) Program: History, Current Issues and Future Implications, By: Patrick M. Callan, Christopher M. Schmid, Michael Voogd – 119p

2014 0605 - LC - Eddie Cressy v. Fidelity & Guaranty Life Insurance Company, Paramount Financial Services and Douglas Andrew - BC514340

  • 2014 0605 - LC - Eddie L. Cressy v. Fidelity & Guaranty Life Insurance Company, Paramount Financial Services and Doug Andrew - BC514340  ---  [BonkNote]
  • 2013 0704 - LC - Cressy v. FG Life, OM Financial, Doug Andrew, Paramount - Complaint for Damages and Equitable Relief - 39p
    • [Bonk] - 16 - 270p - Complete  
  • (p1) - 1. Unlawful, Unfair and Fraudulent Business 17200 et seg.);
    • 2. Unfair, Deceptive, and Misleading Advertising (Cal. Bus. & Prof. Code et seg.);
    • 3. Breach of Fiduciary Duty;
    • 4. Fraud
    • Plaintiff Demands Trial by Jury
  • (p6) - 17. There is no question that a characterization of life insurance as an investment is a misrepresentation and an unfair and deceptive trade practice.
    • OM Financial/FG Life's own Market Conduct Guide provides that use of terms such as "investment," "investment plan," or "savings plan," when used to describe the features, conditions or benefits of a life insurance policy "...has the tendency to mislead a purchaser...." Also, according to the company's Market Conduct Guide, the policies and procedures in it "...encompass regulatory requirements and best practices governing sales and marketing material, most notably NAIC Model Advertising Rules adopted by most states ...." To that end, all states insurance regulations (including California's) prohibit misrepresentation and omissions in the sale of life insurance. 780, 709, et seq. and 10 CCR 
  • (p10) - b. Missed Fortune Marketing and Sales Tools
  • (p16) - 40. The Missed Fortune Software created and provided by Andrew and Paramount Financial, and approved by OM Financial/FG Life, was used to generate the "reports" for the "Strategic Design."
    • The Strategic Design reports are deceptive primarily because they misrepresent OM Financial/FG Life's equity indexed universal life insurance as an investment, and moreover, as a suitable investment if funded with home equity funds.
    • It also uniformly generated deceptive illustrations of investment performance that were unrealistic and based on inflated "investment yields.
  • (p18) - 46. The uniform and deceptive message delivered through. the Missed Fortune marketing materials and each step of the True Wealth transformation process was two-fold.
    • First, and consistent with their TEAM training, the Missed Fortune Producers falsely touted themselves and Douglas Andrew as expert financial advisors and highly trained investment professionals, working for the clients' best interests when in fact they were operating for the sole purpose of selling life insurance. Secondly, that by following the Missed Fortune Producers' expert advice and purchasing the policies in question the clients would obtain safe, liquid, "investment grade" policies using home equity funds and other capital that would create greater wealth and security than other investments, when in fact the life insurance policies were not appropriate investment vehicles.
    • (p19) - The Conspiracy
      • 47. OM Financial/FG Life, Andrew and Paramount Financial conspired together and with others to perpetrate the fraudulent Missed Fortune scheme.
    • (p21) - The Uniform Misrepresentations, Half-Truths, and Omissions Defendants-Made To Plaintiff and Each Member of the Putative Class
      • These misrepresentations all conveyed exactly the same message to Plaintiff and members of the putative -class: that the OM Financial/FG Life equity indexed universal life policies were, safe, effectively liquid investments and would increase financial security.
      • Missed Fortune Producers, Paramount Financial, Andrew, and OM Financial/FG Life withheld material facts including that the policies were worth less than represented, and fundamentally inferior to other investments. Missed Fortune Producers, Paramount Financial, Andrew, and OM Financial/FG Life falsely represented that by investing their money in the policies, Plaintiff and putative class members would "optimize" their assets.
    • (p24) - Causation
      • No rational member of the putative class would have purchased the policies in question but for Defendants' misrepresentations and omissions.
        • The only logical explanation for Plaintiff and each class members' conduct is that they relied upon Defendants' misrepresentations and omissions.
    • (p24-25) - Proposed Class Representative Mr. Cressy's Transactions
      • In his experience, Mr. Cressy dealt with Missed Fortune Producers named Michael Voogd and Kenneth Ogan, Jr.
        • Both had received TEAM Training from Andrew and Paramount Financial, and both were appointed producers of OM Financial / FG Life.
        • 58. Around November 2006, Mr. Cressy read an advertisement for a seminar to be put on by Ogan Financial and Capital Line Financial claiming to help people achieve greater wealth with tax-free retirement plans. This advertisement was published in a newspaper by Mr. Voogd and Mr. Ogan, as Missed Fortune Producers and OM Financial/FG Life appointed agents. At the seminar attended by Mr. Cressy, Mr. Voogd and Mr, Ogan urged Mr. Cressy and the other attendees to "harvest" their home equity and invest it in an "Equity Indexed Universal Life" insurance policy, thereby achieving more wealth than with IRA's, 401(K)'s, Mutual Funds, Stocks; Bonds and Real Estate. This would be achieved by utilizing his home's equity, the purported tax savings Mr. Cressy would realize by maintaining a high mortgage balance, the purported tax- deferred treatment of the Life insurance accumulation value, and "borrowing" from his life insurance cash value in his later years, as a retirement strategy. It was represented to Mr. Cressy by Mr. Voogd that the life insurance policy was a safe,. liquid, and suitable investment that would earn a good rate of return.
          • Additionally, Mr. Cressy was provided with Missed Fortune marketing materials which provided the same false message as was provided to all other members of the putative class, that being that OM Financial/FG Life Equity indexed universal life policies were investments.
        • 59. Soon thereafter, Mr. Cressy had a meeting with Mr. Michael Voogd of Ogan Financial.
    • (p31-32) - 82. OM Financial/FG Life, Paramount Financial, and Andrew's, as well as their agents', acts of unfair competition and unlawful business practices include violations of the Civil RICO statute, California Civil Code §§1572, 1573, 1709, 1711, 1770, California Insurance Code §§ 330, 331, 332, other portions of the California Insurance Code and related regulations and rules, including 10 CCR §.?547.4, and the common law. Such acts include, but are not limited to,
      • a. misrepresenting the life insurance policies as investments;
      • b. selling Plaintiff and members of the public equity-indexed universal life insurance policies that were unsuitable for their investment, estate planning, insurance, and/or financial needs;
      • c. misrepresenting and inflating the returns and results Plaintiffs and members of the putative class could achieve by purchasing equity-indexed universal H& insurance policies;
      • d. misrepresenting to Plaintiff and members of the public that OM Financial/FG Life equity-indexed universal life insurance policies are "investment grade";
      • e. misrepresenting to the Plaintiff and members of the public that OM Financial/FG Life equity-indexed universal life insurance policies were comparable to investments such as securities, 401(k) plans, and other investments
      • f. misrepresenting Plaintiff and members of the public that withdrawing 100% of one's home equity and investing the proceeds in an policy was "safe"; and/or
      • g. failing to adequately disclose the true nature of equity-indexed universal life insurance policies.
    • (p33) - SECOND CAUSE OF ACTION - UNFAIR, DECEPTIVE AND MISLEADING ADVERSTISING (Cal. Bus. & ProL § 17500, et seq.)
    • (p35) - THIRD CAUSE OF ACTION - BREACH OF FIDUCIARY DUTIES
    • (p34) - FOURTH CAUSE OF ACTION - FRAUD
    • (p37-38) - REQUEST FOR JUDGMENT 
      • Plaintiff asks for judgment against Defendants and each of them, in its and the putative class's favor as follows:
        • 1. For an order certifying this action as a class action;
        • 2. For actual and compensatory damages in such amount as the Court or jury deems just and proper; 3. For attorney's fees and costs for all causes of action alleged herein for which such amounts are permissible under applicable law, including California Code of Civil Procedure§ 1021.5, in such amount as the Court or jury deems just and proper;
        • 4. For prejudgment interest;
        • 5. For an order,requiring Defendants to provide notice to the ~lass and to pay for such notice;
        • 6. For imposition of a constructive trust, recessionary relief, injunctive relief, including prohibition of Defendants' unfair, illegal and fraudulent business practices set forth herein, and including restitution and disgorgement of ill-gotten profits; and
        • 7. All other relief which the Court and/or jury deems equitable and just.
    • (p38) - DEMAND FOR JURY TRIAL
      • Plaintiff on his own behalf and on behalf of the putative class, demands a jury trial in the above captioned matter.