Over 25 Years Experience Handling Complex Financial Issues
Extensive education, teaching (including securities, insurance and real estate licenses) and real life experience in all areas of financial planning with expert witness work covering investments, long term care, viatical and life settlements, insurance and annuity policies, real estate issues, commission and partnership disputes, international trading, defined benefit and contribution plans, retirement planning, actuarial review, risk/reward, fiduciary duty, elderly fraud, ...
Have written extensively in field; published No Nonsense Finance, McGraw Hill (2004); acted as securities arbitrator.
Author, largest (4,000+ pages and 1,650+ links) and most comprehensive independent financial planning site on the Internet (efmoody.com). Recognition by Business Week, Forbes, USA Today..........
Background
Q: Please list your professional accreditations, degrees, licenses, and certificates granted:A: BSCE, LLB, MBA, PhD (Real Estate)
Masters of Science in Financial Planning (Estate Planning major)
Life and Disability Insurance Analyst 0626414 (California- one of approximately 33)
Certified Financial Planner
Registered Investment Adviser (California)
California Real Estate Broker
California B-1 General Contractor
Series 7, 24, 27 and 63 Securities Licenses- inactivated
Series 65 Securities License (Multi State Adviser)
California Life and Disability License 0626414
Certificate as instructor for California private post secondary educational institutions.
Q: Please list your affiliations or memberships in any professional and/or industry organizations:
A: ...........
Q: Please list any teaching or speaking experience you have had, including subject matter:
A: 1977- 1999: Professor/instructor for University of California at Berkeley and Irvine, University of San Francisco, Orange Coast, Santa Ana, Coastline and Scottsdale Community Colleges. Includes MBA course in Real Estate Finance, courses for the UC certificate programs "Professional Designation in Financial Planning" and "Professional Designation in Investment Real Estate" and specialized seminars.
1981- 1997: Dearborn Financial Institute & Securities Training Corporation. Instructor for the Series 6 (mutual funds, variable life and annuities); Series 7 exam (stocks, bonds, options, economics, security regulations); Series 22 (limited partnerships, personal and corporate taxation); Series 24 (General Securities Principal); Series 26 (Mutual Fund Principal); Series 63 (multi state license); Series 52 (Municipal Securities); Series 62 (Corporate securities) and insurance, special education programs and securities continuing education courses.
1987- 1998: Arbitrator with the National Association of Securities Dealers, Pacific Stock Exchange
1995- 2004: A.D. Banker, Instructor in Insurance including pre-licensing instruction and continuing education courses in Estate Planning, Managed Health Care, Annuities, Long Term Care, Qualified Retirement Plans, Government Programs and Medicare Supplements, Disability Income, Ethics, Principles of Contract Law, Principles of Agency Law, Taxation of Life Insurance and Annuities, and Financial Products for Financial Planning.
Q: Have any of your accreditations ever been investigated, suspended or removed? (if yes, explain)
A: No
Q: On how many occasions have you been retained as an expert?
A: 20
Q: For what area(s) of expertise have you been retained as an expert?
A: CASES
During 2005, the following reports were prepared for court or arbitration process.
1. Defendant for libel regarding viatical settlements. Suit dismissed
2. Plaintiff against American Express and CFP regarding fraud and breach of fiduciary duty. Settled for plaintiff
3. Defendant for sentencing on a Federal Case regarding international bond trading scheme. Reduced sentence.
4. Defendant in alleged illegal trading. Suit dismissed
5. Plaintiff for trust against "bankrupt" annuitant. Settled for plaintiff
6. Continuing effort for plaintiff against CFP and CFP Board of Standards for breach of duty on life insurance sales. $977,000 current proceeds.
2006 Cases:
1. Report for defendant on breach of fiduciary duty by a charity regarding real estate investments.
2. Pro bono filing against CFP with the Florida Department of Financial Services. Ongoing.
3. Report against several insurance companies in New York for breach of duty against fire department personnel regarding defined benefit programs. Exposure of $150+ million fraud.
4. Report against major insurance company regarding retiree sold index annuity instead of taking pension. Ongoing
5. Report for insurance company defending complaint regarding major wealth management firm in New York. Firm was breaching its fiduciary duty in several areas. Mediated successfully.
6. Report for CFP regarding violation of employment contract.
7. Engaged for defense on elderly abuse case.
8. Engaged for losses sustained by elderly through UBS. Ongoing
2007 Cases
1. Report for lawsuit regarding partner in termination of Financial Planning partnership
2. Arbitration on losses sustained by elderly client
3. Report for defense on fraudulent conveyance of real estate properties
4. Analysis for Life Settlement commission dispute
5. Plaintiff for elderly fraud
Areas of Expertise
* Investments- Stocks, bonds, funds; selection and application; impact with economics, Suitability, Compliance with past and current research
* Annuities- Fixed, Variable, EIA * Life Insurance- Term, Whole and Universal, No Lapse, Indexed; Valuation, Suitability
* Fiduciary Responsibility- Pensions, 401(k), Investments, Annuities and Insurance, * Long term care contracts and application
* Consumer Sophistication and Suitability * Present Value Studies *
* Computerized Plans and Applications * Behavioral Economics *
* Viatical Settlements, Life Settlements * Disability Insurance *
Q: In what percentage of your cases were you retained by the plaintiff?
A: 40%
Q: In what percentage of your cases were you retained by the defendant?
A: 60%
Q: On how many occasions have you had your deposition taken?
A: 6
Q: When was the last time you had your deposition taken?
A: 2005
Q: On how many occasions have you been qualified by a court to give expert testimony?
A: 2
Q: On how many occasions have you testified as an expert in court or before an arbitrator?
A: 12
Q: For how many years have you worked with the legal industry as an expert?
A: 10- the last three more extensively
Q: What services do you offer? (E.g.: consulting, testing, reports, site inspections etc.)
A: Consulting, reports, testimony
Q: What is your hourly rate to consult with an attorney?
A: Initial time is no cost- need to determine if case is applicable to my background and vice versa. General fee $250/hour
Q: What is your hourly rate to review documents?
A: $250
Q: What is your hourly rate to provide deposition testimony?
A: $375
Q: What is your hourly rate to provide testimony at trial?
A: $375
Q: Please list any fees other than those stated above (E.g.: travel expenses, copy fees, etc.)
A: Miscellaneous fees are billed. Travel and travel expenses are negotiated.
