Complaint Review: Ron Thompson and associates LLC - Delray Beach Florida

In 2012 My husband had to be placed into a rehab center and I was ill and had to have a knee operation and I could not take care of him for 6 weeks.

I remembered two men that held luncheons for finacial investments Mr. Andrew Curtis and Mr. Ron Thompson and I call Mr. Thompson and he cam all the way from Flagler Beach Florida to jupiter to council me and advise me in how to handle the financial situation regarding my husban expenses.

He advised me that I could get free medicare for my husband and keep all our hard earned retirement savings and he said he would help me coordinate this for me.  So he had me fill out forms and stated that Ihad to annuitize so annuities and cash out all my CDs from the bank and invest them into annuities and he did come to the bank and helped me too. So, it would look like that I do not have any assets.  He said he would set up the medicade for my husband too.

Which he never did when I investigated it. I cashed out 250,000 and gave him a check to fiedelity and gaurantee life insurance which he stated that it would be a good investment for me.  during that thime of these transactions I was in very severe pain, and on medication and handling my husbands post stroke situation. now my husband had a pension and he stated that he wanted that too and to close out the life insurance and take out a loan too.

I just followed his instructions. so He had Mr. Andrew Curtis make a ammendment to our revocable living Trust to have my husban resign from our trust and use my power of attorney to take out his pension and give him that money too.  My husband signed ammendment document at the rehabilitation center while he was recovering from the stroke and on heavy medications. I went to the bank and submitted the docs and they released my husbands pension to me and I gave it to Mr. Thompson to invest with the other monies. He also, had me take out a loan on my husbands life insurance of 6 thousand. He had me fax all the papers and I did not recieve any brochure from the company until 1 year later.  He stated that I would invest it for 12 years and annuitize the annuities at one percent.  I did not understand what annuitize meant and he said that was the only way my husband could get free medicade.  He stated that I can keep 100 thousand in the bank and it would be ok for expenses.  That I would recieve 2100.00 per month from the annuities for twelve years.

He had me pay cash for my husbands bills at the nursing home and he stated it would take 90 days for them to approve my husband and I would get a refund of the money back from medicade. so I paid around 6 thousand dollars.

What happend my husband left the nursing home and came home.  To discover that I invested in a product that was not good for us bedause now we are on a fixed income and I cannot reverse the annuites with fiedelity and gaurantee even draw out for emergencies. I reported it to the financial division of Florida and the inspector stated that Mr. Thompson was already on probation for this and in the end the annuity company fiedelity refused to reverse the transaction and they disclosed that he made a 35 thousand dollar commision.  My husband and I went to Andrew curtis to have my husband reinstated to the revocable trust and Mr. Andrew curtis charged us 500.00. I discovered later that Mr. Thompson and Mr. Andrew Curtis work to gether and the anuuity company stated that he is an independent broker contractor and not employed with them.

The annuity company Fidelity and guarntee stated that I knew what I was doing, yet, infact I really did not understand this product he was selling me and we really would not have quaulified for medicade and My husband was not even registered with medicade. At this time our saving is low and we have to be a very tight budget. We worked so hard for our retirement monies and now its locked down with a life insurance company and it will not be reversed even for emergencies.  I reported it to the state attorney Pam bondi and she stated that we have to litigate this and of course all the attorneys want a heavey retainer fee to even start the case against the insurance company and Mr. Thompson and He relocated and now he is in delray Beach. Mr. Andrew Curtis is in the villiages of Florida. He used to work for the senior center in boca Raton.  this ivnestment product was not good for my husband and I and I felt he took advantage of me in my time of distress.

IN retrospect I would never have invested in this product if I would have understood that the monies would be locked down forever. He stated that the annuities are not considered a asset yet, by the state they are consider an asset.