My husband & I purchased a secondary market annuity from Somerset Wealth Strategies in Nov(which really should have been described as a structure settlement payment rights WITH RISKS) in the amount of $***This particular investment came with a 2% COLA (cost of living adjustment) I have since discovered that Financial Advisory Firms (such as Somerset) knows that it's easier for retires/seniors to understand this type of investments when it's referred to as annuities Somerset's website & their financial advisors never stated that there were risk in making the investment My husband & I have not received any type of correspondence from Somerset in over a year Our last email was dated Nov21, & in this email Thomas H*** (CEO of Somerset) stated that the Attorney General of the State of Maryland has filed a lawsuit against Factoring company that originates (FSS) Factored Structured Settlements Somerset Weath Strategies states that if the lawsuits, are successful it could result in investors (my husband & I included) NOT RECEIVING our payments Is there not a federal or state entity that cares when seniors and retirees are taking advantage of Somerset marketed this investment as safe and I believe that they didn't do their "due diligence" for there investors Does anyone care or can anyone help us This was our retirement funds from my husband 401K
My husband & I purchased a secondary market annuity from Somerset Wealth Strategies in Nov(which really should have been described as a structure settlement payment rights WITH RISKS) in the amount of $***This particular investment came with a 2% COLA (cost of living adjustment) I have since discovered that Financial Advisory Firms (such as Somerset) knows that it's easier for retires/seniors to understand this type of investments when it's referred to as annuities Somerset's website & their financial advisors never stated that there were risk in making the investment My husband & I have not received any type of correspondence from Somerset in over a year Our last email was dated Nov21, & in this email Thomas H*** (CEO of Somerset) stated that the Attorney General of the State of Maryland has filed a lawsuit against Factoring company that originates (FSS) Factored Structured Settlements Somerset Weath Strategies states that if the lawsuits, are successful it could result in investors (my husband & I included) NOT RECEIVING our payments Is there not a federal or state entity that cares when seniors and retirees are taking advantage of Somerset marketed this investment as safe and I believe that they didn't do their "due diligence" for there investors Does anyone care or can anyone help us This was our retirement funds from my husband 401K