Everyone who sells a structured settlement annuity these days calls themselves a settlement planner. However, true settlement planning encompasses much more than simply selling a structured settlement annuity. Structured annuity brokers are not the same as settlement planners.
A structured settlement annuity broker’s primary goal is to sell settlement annuities. That’s the only tool in his or her tool kit. A broker is not able to create and establish comprehensive settlement plans for a client’s settlement funds. A comprehensive settlement planner can, for example, handle:
- Advising on government benefits planning issues
- Setting up a special needs trust according to each client’s needs
- Investing a client’s money on their behalf
- Handling lien resolution
- Deferring contingent legal fees
The most that the structured settlement annuity brokers can help in these matters is giving a referral to professional settlement planners who have skills and experience in comprehensive settlement planning. A structure broker might have to bring in a special needs attorney, an investment advisor, a Medicare Secondary Payer compliance expert, and more.
At Amicus Settlement Planners, we take pride in providing truly comprehensive settlement planning to ensure that a client’s settlement meets their future needs and goals.
We are attorneys. We are Certified Financial Planner professionals (CFP®). Some of our team members are past presidents of the Society of Settlement Planners, a national organization that promotes comprehensive settlement planning. We created and teach the courses for the Registered Settlement Planner designation, which teaches other professionals how to become a comprehensive settlement planner.
If you have a client who will be receiving a settlement, make sure to talk to a comprehensive settlement planner. A true settlement planner can help you with all aspects of the settlement, from government benefits planning and special needs trust to investment management and lien resolution.
So, in sum, make sure that your “settlement planner” is a truly a comprehensive, professional settlement planner.