• Report: #1123051

Complaint Review: First Annuity Source

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  • Submitted: Wed, February 12, 2014
  • Updated: Wed, February 12, 2014

  • Reported By: MH — Brunswick Ohio
First Annuity Source
6404 Wilshire Boulevard Suite 1603 Los Angeles, California USA

First Annuity Source Michael Carter Ripping Off Agents - Don't Buy Their Story about Annuity Leads! Los Angeles California

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Well....here is just another example of a re-packaged, phony lead service taking advantage of hard-working financial professionals.

I signed up for this company's lead program after receiving advertisement and talking with their head scamster, Michael Carter in March, 2013.  I know, I know....very stupid and naive....but I bought into their guarantee program.  I am no newbie to the industry, and I should have just realized that it was too good to be true. Michael said all the right things and answered my questions....little did I know that he was outright lying to me the entire time.

I paid my $1,500 to get started with the low-end lead service.  Within a couple of months I started to notice problems with their services.  It took over a month to get even my first lead.  And then when I started calling them (1 to 2 per week), I found consistent problems, as others have noted in their complaints about this company:

  • Out of about 13 leads received, NONE of the prospects had a clue why I was calling and had no recollection of talking to anyone from First Annuity Source.  It was almost as if they simply picked random names out of a phone book.
  • They claim in their advertising and in discussions with Michael Carter that they record every conversation with every lead.  I never heard a single recorded conversation with the leads I received.  When I questions Michael Carter about it, he said the they couldn't record calls from their cell phones, and often made calls this way without recording.  He said they would start to record them but it never happened.
  • They promise a money-back refund in their agreements.  I finally became fed up with their scamming and called for my refund.  I was told that they would look into it but never got any return phone calls after that time, despite calling and leaving messages dozens of times.

I'm looking into reporting them with other reporting and State agencies for fraudulent activities.  They're not even registered with the California State office, so I'm suspecting that they're operating outside the U.S.  If I were a litigation attorney, I'd be all over this one for a class action law suit.  It could be easy money if the owners are in the U.S. and there are certainly no shortage of unhappy customers.  Any attorneys interested should contact me for more details.

In summary....stay away from First Annuity Source in Los Angeles, CA!


This report was posted on Ripoff Report on 02/12/2014 10:02 AM and is a permanent record located here: http://www.ripoffreport.com/r/First-Annuity-Source/Los-Angeles-California-90048/First-Annuity-Source-Michael-Carter-Ripping-Off-Agents-Dont-Buy-Their-Story-about-Annu-1123051. 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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