Good afternoon and happy summer during these trying times. We’ve received some agitated reports of renewed marketing from John Bair’s factoring firm, CrowFly. We want to remind you that:
 

1. Putting structures together and also taking them apart is a clear conflict of interest for the structuring part. After all, what incentive is there to put a good structure together when there’s an opportunity for double-dipping?
2. CrowFly’s message of how high rates are terrible is the same one we’ve been saying for nearly 20 years. Yes, high rates are bad, low rates are better, but more importantly:
3. CrowFly’s rates are just the industry average, and low rates don’t trump the most important part of any factoring consideration;
4. Doing the right thing for an annuitant does not mean just giving them competitive rates. It sometimes means advising them not to cash out at all.

 
We stopped putting structures together because we recognized the need to offer sound financial advice on the factoring side. We don’t factor everything we’re referred because it’s not appropriate for every case. We’re not cash now pushers.
 
Stay safe and cool in this summer heat and thanks for sticking with us.