STONE STREET FINANCIAL ANNOUNCES FOUNDING PARTNERS THROUGHOUT THE COUNTRY
BETHESDA, MD, January 28, 2002 - Stone Street Financial, Inc. which launched its new financial product Liquidity for Life earlier this year, today announced its national founding partners. Liquidity for Life provides large numbers of senior citizens with the opportunity to sell their no longer needed life insurance policies at a price higher than the cash surrender value. The product is available only through Stone Street’s proprietary distribution network of insurance agents.
Stone Street Financial is launching its distribution network with five Founding Partners. They have been selected based on their specialization in this field and the fact that they are leaders in the insurance industry. Each produces between $30 million and $400 million in funded policies annually. The Founding Partners are:
- The Producer’s Alliance of Baltimore, MD
- VSPI of Richmond, VA
- Cornerstone Processing Alliance of West Palm Beach, FL
- Mort Greenberg, JD, CLU of Denver, CO
- The Heritage Group of Oklahoma City, OK
As a Founding Partner of Stone Street Financial, each of these companies will serve as the exclusive representative in its market for Liquidity for Life. They have agreed, in turn, to give Stone Street the right to review their policies to determine whether they qualify for the Liquidity for Life program.
“Each of these five companies has extensive experience in life settlements, has demonstrated its ability to deliver substantial volumes of quality product quickly, and has represented the highest operating standards and integrity,” said Bob Vona, Senior Vice President of Sales for Stone Street Financial. “They immediately provide Stone Street with effective national coverage for Liquidity for Life,” Vona added.
The Founding Partners will also participate in Stone Street’s comprehensive Liquidity for Life marketing program and be able to take advantage of Stone Street’s affiliation with a major international banking firm. This firm will initially provide more than $500 million in capital to purchase life insurance policies.
Mike Quinn, President of Estate Trust, part of The Producers Alliance, said “the importance of our partnering with Stone Street Financial, a funding source with significant and reliable capital, cannot be overstated. I am very gratified that Stone Street is committed to raising the bar in the life settlement industry. Its high ethical standards, combined with a fully staffed and dedicated compliance department, ensure that my company and my producers will be protected.”
Added Steve Watson, President of VSI, another of the Founding Partners, “when I look at the potential for this market and the program offered by Stone Street, I can’t help but be excited about the future of my company”.
Learn why seniors and the financial service professionals who serve them are turning to life settlements for solutions.