Rumson Capital
Rumson Capital Announces Company Growth as a Result of Full Disclosure; Rumson Capital’s Volume Increases 100 Percent Since Announcing Full DisclosureJENKINTOWN, Pa.–(BUSINESS WIRE)–May 25, 2006–As a direct result of being the first life settlement company to offer full disclosure of highest-bid life settlement transactions from financial institutions to brokers regardless of regulatory requirements, Rumson Capital has announced that its volume has increased by 100 percent in the past month. By offering full disclosure on life settlement transactions, Rumson Capital is fully revealing to brokers exactly how much the highest bid from the financial institution is, as well as the commission that the company will be receiving on the transaction.
Rumson Capital has received praise from brokers and financial planners alike in this new endeavor. Now, brokers working with Rumson Capital on life settlement transactions are better equipped to determine the right course of action for viators. One of the most challenging issues brokers face when negotiating a life settlement is the lack of transparency - i.e., what is the offer and where is it coming from. Because the industry’s reputation has been plagued with controversy, in anticipation of increased regulatory scrutiny, Rumson Capital is raising the bar in the life settlement industry, in the hopes of encouraging more life settlement companies to offer full disclosure.
“As soon as we announced that we would be offering full disclosure of life settlement transactions, we received an overwhelmingly positive response from the brokers,” said Robert Meyer, vice president and general counsel of Rumson Capital. “The life settlement industry is being scrutinized because regulators realize that there is a lot of ambiguity. If we can help motivate other companies to offer full disclosure and compete fairly, we will be making greater strides to help make retirees’ wealth work better and harder and, ultimately, optimizing their quality of life.”
