The Retaliation Begins...The Backlash From My Advocacy Efforts Against Envoy Plan Services

Time to add another company to the 403(b) trash heap - this time it is FTJFundchoice, a relative newcomer to the 403(b) market. FTJ learned quickly about the 403(b) market and quickly sunk to the level of every other 403(b) company that is usually available on district provider lists. I made public certain documents that FTJ would have rather me keep quite about and now they are retaliating against me rescinding my selling agreement with them. The documents never should have been kept secret, but they were in order to protect the greed of some people involved. What this means is basically I can't look at client accounts that are held at FTJ. You may ask why I would want to have accounts at a company that I feel is unethical? Well, I don't have a choice. You see FTJ is connected to the hip with Envoy Plan Services in several Orange County Districts and I am forced to move money to these people. I actually think FTJ has a pretty good product, the problem is poor ethics at the top. The company is so focused at building assets that they are willing to sign agreements with companies like Envoy Plan Services that completely betray the educator and even the districts that allow them to operate. I will be posting the agreements online at www.403bretire.com in a few days for your viewing pleasure.

Ever since I started my campaign against Envoy I began getting tons of spam and viruses through e-mail, sometimes hundreds a day. My e-mail has been used for opt-in mailing lists and who knows what else. Can I say for sure that the people at Envoy and Retirement Solutions Group are behind this activity? No, but I find it curious that whenever I defeat them in something that the activity multiplies. I want to make it clear that I am not whining, I can take critiscm and childish antics just fine, I am documenting this so that people can see first hand how these companies treat people.

My internet was down all day today and I got a speeding ticket on my way to San Diego - I sure would like to blame somebody, but instead I think I will take the higher road and take a little personal responsibility. My internet was down becuase of a router I installed (though come to find out it was faulty) and I got a speeding ticket because I was speeding...... (though I was going with the flow of traffic!!).

I will continue the fight against the industry despite the fact that my allies are dropping like flies (more on this later). One day the 403(b) industry will be looked at with envy, not with spite.

I hope all is well everyone who reads this - I always enjoy the commentary that I get back, keep it coming!

ScottyD