Curtis Ray Gets Hit With Cease & Desist Attorney Explains

Welcome back, Rocky DeFrancisco, to the BetterWealth show. Recently, I received a defamation notice from Curtis Ray's legal team, which prompted me to take down a video featuring you. However, our goal today is to explore the situation in a transparent manner without speculation.

Key Points Discussed

• Curtis Ray's marketing strategies and the cease and desist orders from the state of Washington.
• The implications of selling Index Universal Life (IUL) products, specific marketing claims, and potential legal ramifications.
• Insight into the concept of 'Hyper Funding' and its associated risks.

Background on the Issue

Rocky, can you give us your professional insight into the primary issues concerning Curtis Ray's marketing approach? You’ve stated it mostly involves opinion rather than fact, but there's considerable concern surrounding the marketing of these insurance products.

The Case of Curtis Ray and Washington State

The state of Washington issued a cease and desist order based on how Curtis Ray marketed IUL products. This stemmed from an insurance agent's complaint, alleging fraudulent marketing practices. The main points include:

Lessons for Consumers and Advisors

There are several lessons here for both consumers and insurance advisors:

• Understand that terms like "investment vehicle" should not be casually used in insurance contexts, as it misrepresents the product's nature.
• Recognize that comprehensive disclosure of risks and benefits is crucial in financial advising and marketing.
• Advisors must be cautious in how they market insurance products to avoid allegations of fraud and legal scrutiny.

Conclusion

As we await further updates on the case and Curtis Ray's responses, one key takeaway is the critical importance of ethical marketing and clarity in financial product offerings. For those interested in understanding the full scope of the cease and desist order and how it impacts practice, please download the document via the link provided below.

Special Update

Watch the video below for a special update at the end for followers of the Curtis Ray series. This new information could prove vital for both professionals and clients in navigating these complex waters.