Posted at 12:34 p.m., Friday, April 6, 2007
Ohio investment firm defends questionable practices
Advertiser Staff
An Ohio investment company that's being looked into by the state Securities Enforcement Branch said its has received responses by local residents to its mailings to Hawai'i addresses. It also defended its postcards that could lead people into thinking the firm had important information about their annuities.Investors Union said the response rate for Hawai'i has been consistent with other states in its mailing of as many as 10 million postcards annually. The mailing carries a message that people may have an annuity that's expiring and urges them to call Investors Union's Annuity Service Center to find out more.
State officials on Thursday said they were reviewing the company's "questionable practices." James McIntyre, an attorney for Investors Union, said in an e-mail that the company's service tries to link insurance agents with people who may need help reviewing annuities. He also disputed the company's unsatisfactory rating by the Akron Better Business Bureau.
