• Report: #1084501

Complaint Review: Trust & Estate Planning Consultant, LLC

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  • Submitted: Sat, September 14, 2013
  • Updated: Sat, September 14, 2013

  • Reported By: justin h — San Francisco California
Trust & Estate Planning Consultant, LLC
34607 Black Cherry Street Winchester, California USA

Trust & Estate Planning Consultant, LLC Gregory J. SmithDeborah Smith Attempted to sell investment products w/o a license, promised unrealistic investment returns Winchester California

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Malcolm Giles started calling my mother the 'help' her with her financial situation. I suggest running a couple quick searches on ripoff report to get some flavor of Mr. Giles. From Ripoff report we can see that he has started several Debt Resolution companies that have complaints. He seems to shut one debt resolution company down and then start what appears to be an identical company with a different name. I'll let you speculate on why he has done this. Through Mr. Giles debt resolution marketing he has a database of individuals who are financially stressted, unsophisticated and most likely desperate - a gold mine scammers.

http://www.courthousenews.com/2012/02/14/43857.htm

http://www.azcentral.com/12news/news/articles/2008/10/14/20081014nopaychecks10142008-CR.html

http://www.ripoffreport.com/r/FULL-SPECTRUM-DEBT-SOLUTIONS/SCOTTSDALE-Arizona-85260/FULL-SPECTRUM-DEBT-SOLUTIONS-FINACIAL-FREEDOM-USA-FULL-SPECTRUM-DEBT-SOLUTIONS-WAS-FINACI-699315

Mr. Giles first put my mom in contact with Teresa Jackson who tried to get my mother to redeem her life insurance policy with Metlife and instead investment the money is speculative development in the Bakken region in North Dakota. When I asked for the documentation, I found that Teresa Jackson was not only selling these speculative investments, but she completely controlled the entities and would be taking huge fees from these entities. Additionally, I'm an investment professional (became a Chartered Financial Analysts in 1998) and no investor at any level of risk tollerence should ever consider investing in any of the products she was pushing. She also wanted my mom to purchase bars of silver from her special contact that would help her hide from taxes (my mom needs to avoid taxes about as much as a pinto needs jet fuel) and what she called a 'bond fund' that was actually speculative lending to construction projects (I found out later the 'fund' if it ever did exist was actually shut down). Needless to say, I told my mom to never speak to this woman again, reported her to FINRA and found that she is not even licensed to sell investment products. I suggest doing a google search of Teresa Jackson and Bakken or Teresa Jackson and Marta to see some of the past results and complaints about her past performance with investors.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=68124302

http://www.ripoffreport.com/r/dlg-investments-william-d-yotty-bill-yotty-teresa-jackson-martin-mair-and-dan-l-gootee/lodi-california-94242/dlg-investments-william-d-yotty-bill-yotty-teresa-jackson-martin-mair-and-dan-l-goot-438610

Months later Malcolm Giles contacted my mom again and said she should speak with Greg J. Smith and Deborah Smith at Estate Asset Managemnt, LLC. Mr. Giles said they have 'really good products'. Ther contact info is below:

Estate Asset Management, LLC

Gregory J. Smith

Trust & Estate Planning Consultant

34607 Black Cherry St., Winchester, CA 92596

866-738-1506    Cell  619-368-1393    FAX  866-609-3846 

ProtectYourRetirement@msn.com

 

I still dont' understand why, but my Mom called them even though I had already showed my mom that Malcolm tried to push her into an investment with Teresa Jackson that would have wiped out her entire life savings. But Mr. Giles has been doing this a long time and he knows the right people to target and unfortunately my mom is one of them. Unfortunately for Mr. Giles, my mom has me!!!

Mr. Smith (is anyone else suspicious that all the names are so generic) told my mother that she should withdraw her money from her Met Life insurance policy and place it with him in a new better policy and his new better policy would GUARANTEE her over $3k per month in retirement. I asked him to send me the legal documentation. Instead he sent an email that he wrote saying similar things. I then asked for a prospectus. He said one does not exist. Red flag. I asked how he knew Malcolm Giles, he said he did not know Mr. Giles at all, but Mr. Giles refers people to him becuase his products are so good but they don't know each other.

Somewhere in here are several lies. I looked back an past emails and found a very early email from Teresa Jackson that said Malcolm Giles was her 'associate' and that Malcolm Giles 'works with Greg and Deborah Smith at Estate Asset Management, LLC'. Isnt' that amazing? Mr. Smith doesn't know my Giles, but Mr. Giles and Mr. Smith work together? Hummmm

Now comes the lies on the insurance itself. Unfortunatley my mom signed up becuase Mr. Smith was such a good salesman (you should check the FINRA database, Greg Smith is not licensed to sell invesment products), but fortunately she had a 30 day cooling off period in which to cancel the contract. First the contract only 'guaranteed' a 1% annual rate of return. Based upon my math, I estimated this would only provide for $1,300 per month in my mom's retirement or about 60% LESS than what Mr. Smith had promised. Second, by redeeming my mom's old insurance policy she was going to incur an $8k surrender change. Mr. Smith had promised the company would reimbure her $9k to cover this. However, this promise was not documented anywhere in the written contract.

Net, net. Stay away from Malcolm Giles, Teresa Jackson, Greg Smith and Deborah Smith. They all work and collude together and have never revealed their true relationship together. They are not looking out for your best interest. Malcolm does not 'help people' as he claims, its all one big scam.


This report was posted on Ripoff Report on 09/14/2013 12:12 PM and is a permanent record located here: http://www.ripoffreport.com/r/Trust-Estate-Planning-Consultant-LLC/Winchester-California-92596/Trust-Estate-Planning-Consultant-LLC-Gregory-J-SmithDeborah-Smith-Attempted-to-sell-i-1084501. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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