TREASURE COAST -
Jeff Atwater, Florida's chief financial officer, warned consumers about a scam that involves misleading postcards sent to seniors about an annuity they may have that has reached the end of its surrender period.
An unlicensed company named Unlimited Fulfillment Services, has been allegedly contacting senior consumers with these postcards advising them to contact the company's "scheduling department" to discuss options.
The Florida Department of Financial Services has filed a notice of intent to issue a cease and desist order against the company.
"This company's illegal marketing strategy is aimed at our state's most vulnerable citizens," said Mr. Atwater.
"My department will continue to take action against these types of misleading solicitations, and I urge all consumers to be on high alert for this and other such attempts to get their hard-earned money."
Unlimited, of Medina, Ohio, is not licensed in Florida as an insurance agency. The cease and desist order alleges it engaged in the unlicensed, and therefore illegal, business of insurance by soliciting annuity products to elderly Florida consumers.
The notice also alleges the solicitations contained false or misleading information directed to elderly consumers.
As referenced in the notice, Unlimited sent Florida seniors postcards indicating they were from Unlimited's insurance and annuity services department.
The postcard stated consumers might possess of an annuity that had reached the end of its surrender period. The postcard provided a toll-free telephone number and directed the recipient to contact an Unlimited representative to discuss options.
The postcard was intended to mislead consumers into believing a phone call was necessary and action was required regarding investments about which Unlimited had no knowledge.
Instead of possessing actual and relevant information regarding the consumers' investments, Unlimited sought to mislead the elderly consumers by inducing them to call a toll-free telephone number upon receipt of the postcard advertisement.
Consumers who are contacted by this company are encouraged to contact the department's division of consumer services by calling (877) MY-FL-CFO to report the solicitation.