Bank = Strategy = Insurance Contract
Save yourself from the apocalyptic evolution of insurance marketing & sales on social media.
In the beginning of the COVID-era, I hopped on TikTok looking to see what other finance-nerds were talking about. I was given a concussion by the crashing waves of insurance agents producing misleading video content. Cautious attempts to make videos for “educational & information purpose only” quickly evolved…
Into a Monster.
Teaching people about how an insurance contract works wasn’t enough. See. You can basically give a few million people advice, via one video, by telling them about a secret “strategy” that the rich & wealthy are keeping secret.?
Best part is??You aren’t on the hook for giving advice.
A “strategy” the government & banks don’t want YOU to know about. A strategy (you won’t hear it from them until challenged) that is a product they sell you to earn a commission. That’s right…this strategy is called:
See below a beautiful tweet from Ryan Rush (a TikTok insurance agent helping you build wealth) who runs a Twitter account that’s all about how to sell people real estate, insurance, or any other product & make TONS OF MONEY.
Oddly, he admits on Twitter that all of his insurance stuff is just mumbo-jumbo marketing stuff that’s barely legal but he has no clue whether or not is true. He’s just a salesman selling the product he’s paid to sell.
After all, everyone knows that “life insurance” is “for living” not for insuring the loss of your life. [omg, did I just lie] Pitching a strategy to a few million illiterate TikTok users is okay. Pitching a financial product…isn’t.?So please [don’t] ignore the fact that all of these strategies are literally products.
What’s The Danger, Anyway?
One of TikTok’s most iconic & proliferate insurance-selling influencers is Curtis Ray & his mob of thousands of insurance agents. Thanks to the term “advisor” being completely unregulated, these agents are allowed to market themselves as “MPI Certified Advisors” after passing a sales training course you can literate rip off the internet yourself. Pretending that Joe Shmoe, MPICA is as meaningful (or more so) than John Doe, CFP(R).
The danger is thousands of videos, garnering millions & millions of views, entirely based on presenting lies…
“Get?3x?more income than a ROTH IRA. Everything your 401(k) wishes it could be. The massive breakthrough your financial advisor couldn’t figure out. The secret the finance industry is hiding from you. This guarantees you won’t lose money to the stock market.”
I’m talking about MPI…or the marketing claims for MPI. Since the quote above is statistically untrue, entirely built on technicalities & half-truths, involves false-equivalencies, & is only legal to speak if you’re selling insurance. Give these folks some Under Armor, a whiteboard, & they’ll claim accredited financial professionals & academics everywhere are simply too dumb to understand the math. Math their compliance departments won’t let them publish in an official report without the words “for educational purposes only”.
You can erase the whiteboard. You can delete the TikTok (and you aren’t required to maintain an archive). You can destroy the evidence of your lies.
领英推荐
If It Sounds To Good To Be True?
It probably is [not true & not good].
Curtis Ray joined Twitter, officially with his first Tweet, on?December 29, 2022?to respond to the claims that he was lying to & misleading people. And generally doesn’t understand his product.
Since then, multiple reports were?published by Honest Math?showing the exact math behind using a 401(k), ROTH IRA, and/or IUL insurance policy. All of which Curtis has disagreed with strongly for a variety of inconsistent & mostly pointless reasons.
When challenged, Curtis agreed to record & stream a moderated Zoom call which would be published for ANYONE to see. Curtis & Honest Math would discuss the primary MPI report. Mysteriously, the LIVE TikTok stream went off with almost no problem at all. But his recording of the Zoom call has “audio issues” that are keeping him from posting, editing, or sharing the Zoom call publicly.
That said, Curtis & other MPI “advisors” have made a number of videos where they use incomplete summaries & partial screenshots of the analysis & report to literally lie to their followers about the dangers & risks of using the MPI strategy.
In less than 3 months & 880 tweets, Curtis has provided 0 financial analysis to back up his claims, made at least 21 demeaning comments to diminish the knowledge of respected financial academics, tweeted false data 57 different times, & made a minimum of 132 bad-faith, misleading, or misrepresenting claims.
I was generous here, excluding a number of tweets.
When Did Strategy = Bank?
That’s right. The MPI Premium Strategy is ALSO the MPI Premium Bank. As of a this past week. Neither of which can be factually backed up by raw, compliance-agnostic analysis.
A Swiss Army knife never makes a great steak knife or a good walking stick.
But these insurance contracts can replace your bank…since there are hundreds of thousands of people terrified their bank will fail next. I guess Curtis just discovered Infinite Banking…something I’ve written about before with?The Little CPA.?
The solution is obviously to sell scared people a complex & expensive insurance product that most agents admit they don’t understand, which involves investments & strategies the agents aren’t licensed to sell (except for when packaged inside an insurance contract). The more the merrier?
For what it's worth, Curtis Ray used to frequently peddle his marketing on LinkedIn and Facebook before being swarmed by professionals & DIY-investors who knew better. He then moved to TikTok & Instagram. He's since shifted to Twitter's "Hustle-sphere". And a number of copycats, who are paying for his mentoring, have begun popping up on Facebook.
Beware of grifters & people with "no home" who make a living by selling you a dream.