Wealth Rock James Smith Company Lied to...no guarantee Internet

First, how can one be certain this is James Smith responding? Anyone can write for whomever on the internet. You have/had my phone number and quit responding about the same time Wealth Rock did.

I hear that his sale of the company might not have been what he wanted and lost a lot of money but precentage wise my wife and I lost more.

"His" statement that " I do not have a budget to do this" may be true in that he hasn't written anything into his existing budget but a person of his means has more than enough resources to make this right.

My wife and I had to DECLARE BANKRUPTCY in March because of a "guarantee" of staying and helping until the money "spent" for training, mentoring, etc. was earned back in sales WAS NOT REALIZED.

Up to this point we have had an EXCELLENT rating (we are in our mid 50's.)

I had several talks with James Smith at the beginning of my contact with Wealth Rock and he expressed what appeared to be a desire to help make my venture sucessful.

When a problem arose with the one doing my mentoring James helped in changing to a different "teacher" who actually was worse than the first.

When nothing was getting resolved I tried to contact James again for assistance and received NO RESPONSE.

I still hold to my belief that the REAL REASON for what James Smith / Wealth Rock or whomever does this may appear to be to  "help" but it is actually to MAKE MONEY.

This, and what James Smith does, is a SALES company and will continue to be one.

I may not have lost as much money as James Smith but actually MORE in how this affected my family and credit.

I receive weekly phone calls from people all over the United States asking about these programs and advise them to proceed with GREAT caution. At least I've been able to save MANY people A LOT of money.

This link is the source of the article below: http://goo.gl/4zV6x

From James Smith:

As an investor who has been given the enormous blessing of being able to travel the world helping others learn how to conquer fear and achieve varying levels of financial success, I have worked tirelessly to give each person who meets me that which I desperately wanted early in my career; a financial pathway that inspires people to take action. My challenge, and equally my motivation, has been to incite a spark of belief inside of those who feel like they cannot overcome their circumstances and are bound to the failings of their past.Despite what some people might think, I do not run a large company with legions of employees; in fact, this company, the James Smith Company is comprised of me and my incredible assistant.

For all but 6 years of my speaking career, I have not owned the companies that organized the speaking events where I presented. I know my strengths (investing, motivating people, teaching) and my weaknesses (management, paperwork). I capitalize on my strengths and identify others who help me where I fall short. In real estate for instance, if it were not for my wife, mortgages and taxes would go unpaid, property managers would be unaccountable, and HUD-1's would be lost in a stack of clutter. My task has always been to work with people that I trust and believe in many times I am right, but sometimes I am misled.

In 2010, I was approached by Joe Johnson, who at the time was an executive at Get Motivated Seminars. I had partnered with Get Motivated Seminars for years and was confident that they employed good people. Joe Johnson propositioned me with an offer to buy Real Estate Investor Support REIS, the seminar company that I founded in 2007. He convinced me that by selling my company to him, I would be able to spend more time teaching others and expanding our message to international audiences. As I noted above, the dynamics of running a large organization simply arent my forte I wanted to be client facing, not employee facing.

One main deal point for me was the ability to oversee and manage the material that was taught to people who attended the new companys trainings.In January of 2011, Real Estate Investor Education REIE purchased all of the assets of REIS and Joe Johnson was now in charge. Initially the relationship between myself and REIE was excellent and I was glad to have trusted Johnson. This trust however would prove to be short lived. In July of 2011, Johnson started engaging in activity that violated my sale agreement with his company. I questioned him and attempted to make him adhere to our terms, but it was clear that he had a new agenda.

In addition to changing the name of the company from REIE to Wealth Rock, he stopped working with several of the instructors and trainers that I believed in the most. In addition to personnel changes, he stopped making payments to key creditors and boasted a sue me if you dont like it attitude. People sued. For months leading up to the final insolvency of Wealth Rock / REIE, good and honest people who worked for Wealth Rock and who believed in Joe, went unpaid. Selling my company to REIE nearly cost me the entire value of my company, which I had built up over years of work and sacrifice.Since Wealth Rock shut its doors, I have, at my own expense, held trainings that Wealth Rock students were allowed to attend at no cost to them.

I have hosted hundreds of students in San Diego, Marina del Rey, Dallas and Orlando. These trainings were merely designed to teach students the material that they paid Johnsons company for, but did not receive.This article is not written in order to garner sympathy for myself I do not need it. Even though my deal with Johnson has cost me a significant sum of money, the financial investments that individuals and familys lost with Wealth Rock / REIE was potentially greater in magnitude than my own. I merely want to clarify to the thousands of Wealth Rock / REIE clients that I have, and will continue to, provide you with as much educational content as I possibly can. I do not have a budget to do this; however, my mission when I started speaking was to help others. I deeply regret selling my company and am ashamed that I was misled. 

My husband and I were also victims in the WealthRock bankruptcy.  We did take several classes but never saw the mentorship we had paid for.

However, I wish your complaint had not cited James Smith in the title.  James Smith sold his company well over a year ago.  Wealth Rock was not his.  He is being just as hurt by this mess as we are.

To me, he is the real deal and if he teaches a class, I would go out of my way to take it.  I am sad that so many postings on the internet include his name.  It does not deserve to be dragged down.