- 7,790
Maybe FinDude is Dennis's brother-in-law?
- 26,081
Something seems fishy.
FinDude73
New Member
Checking back in... and nope, no relation to Dennis. And I do like fishing, literally and figuratively, which is why I'm checking out facts, including unchecked things that are being said in cyberspace like this forum -- a great place to start. Everyone's entitled to their opinion, and mine is that among the thousands of agents who are actively working with Dennis Tubbergen's organization nationwide, the few here who have had a bad experience simply confirms that we're all different. To date, I've spoken personally with dozens of agents using Dennis' system, all of whom are having varying degrees of success helping Charities, and helping their donors. Although some of you probably don't care, I've just embarked on a marketing campaign, and will keep you posted on my success, or lack thereof. So who knows, you may say "told you so" or it may just work out productively, which is my hope.
I went to the "Definitive System" preview event in late July 2010. This appears to be a very elaborate scam. In the end, Dennis Tubbergen asks for $50,000 to become a member. The money is not a fee, just a "performance deposit" that is refundable upon production.
In the end, I only gave them $10,000, the balance to be sent in ASAP. After thinking about it away from the high pressure moment it no longer seemed like a good deal. When I told them early on that I can't come up with the $40,000 balance they offered me a deal that let me stay in the program for what I already gave them. At that point I became doubtful that I would ever see my money again, I attempted to work with them to learn the system but they have not lived up to their promises in any fashion.
This money I am sure I will never see again. This has been a very expensive lesson. Don't give them a dime.
The question I should have asked is: Why would a person give anyone money to work for them? and yet at the time, it seemed very reasonable. The company promised that I would get on site assistance to build Joint Venture Partners with P&C agents, or CPA's, Med Supp agents, etc who have the clients I need to use the arbitrage strategy. This involves a client 60-80 years old who gets an annuity @ 11% (I have since learned that this rate is double the market rate) uses some of this money to buy a life insurance policy to restore the principal amount at death, and keeps the difference as additional income. The problem is the NY DOI is saying that this idea will fail due to lack of an insurable interest - yet we were told that 75% of people in this age range will qualify. I have asked to speak with licensees who have been successful with this program and I get nothing.
Be very afraid of this one.
In the end, I only gave them $10,000, the balance to be sent in ASAP. After thinking about it away from the high pressure moment it no longer seemed like a good deal. When I told them early on that I can't come up with the $40,000 balance they offered me a deal that let me stay in the program for what I already gave them. At that point I became doubtful that I would ever see my money again, I attempted to work with them to learn the system but they have not lived up to their promises in any fashion.
This money I am sure I will never see again. This has been a very expensive lesson. Don't give them a dime.
The question I should have asked is: Why would a person give anyone money to work for them? and yet at the time, it seemed very reasonable. The company promised that I would get on site assistance to build Joint Venture Partners with P&C agents, or CPA's, Med Supp agents, etc who have the clients I need to use the arbitrage strategy. This involves a client 60-80 years old who gets an annuity @ 11% (I have since learned that this rate is double the market rate) uses some of this money to buy a life insurance policy to restore the principal amount at death, and keeps the difference as additional income. The problem is the NY DOI is saying that this idea will fail due to lack of an insurable interest - yet we were told that 75% of people in this age range will qualify. I have asked to speak with licensees who have been successful with this program and I get nothing.
Be very afraid of this one.
rbrucethomson
New Member
- 9
I bought the charity IRA system before they got the cease and desist letter. Then GTBK fundamentally changed the system. I subsequently requested a refund. Got no response. At the seminar, they made the mistake of giving me the name of a member who was within driving distance and was "using the system successfully." I later called him for advice only to find out he had yet to close a single case.
I'm sure there are a few agents who have gotten lucky and closed some business using this system. However, I see it as Mr. Tubbergen's way of capitalizing on the myth that pervades the industry that there is a quick way to success that will abrogate the need for hard work and determination. Hence, the name of his newsletter.
My advice, for what it's worth, find a mentor who has a record of success over at least 10 or 15 years. Learn everything you can from them. Work your tail off. Don't give up.
I'm sure there are a few agents who have gotten lucky and closed some business using this system. However, I see it as Mr. Tubbergen's way of capitalizing on the myth that pervades the industry that there is a quick way to success that will abrogate the need for hard work and determination. Hence, the name of his newsletter.
My advice, for what it's worth, find a mentor who has a record of success over at least 10 or 15 years. Learn everything you can from them. Work your tail off. Don't give up.
fsamec
New Member
I would throw out anything you get in the mail from Dennis Tubbergen. He is a generally good commumicator and marketer, but his programs are too expensive, unproven and always try to upsell you. Beware of his too good to be true offers, because they are. After they bring you to a 2000 dollar seminar, then they spend two days trying to strong arm you into a 10000 system.
I flew to one of his "seminars" in Michigan a couple of years ago. Two thirds of the seminar was a pitch to join one of their programs. I still get his Smarter not Harder newsletters every month and they do have some good info in them. I have never paid him a dime.
KENNEDY
New Member
- 11
My name is BRIAN KENNEDY and I have had multiple issues with Dennis and GTBK marketing. These issues are so valid that Dennis through Chris O has offered me a refund of $15,000 in marketing support in place of the Immediate Legacy system I purchased. I can no longer participate because of the changes they have made and becuse Dennis now has had some issues with FINRA , go to broker check and research.
My compliance department( Fortune 100 company) does not want me to be associated with him. Keep in mind that Dennis, Chris and Al told me when I joined if there was ever compliance issue we would work it out. In addition my compliance department asked for information from GTBK and GTBK ignored my requests.
I had a call set today with Dennis to discuss this and he refused to speak when I stated I was recording the call. Interesting that I was told when anyone calls GTBK they record the calls. I have asked for copies of those calls and been ignored. Interesting that the man who directs the companies to make the calls and record them will not allow himself to be recorded.
I WOULD LIKE ANY ALL PEOPLE THAT HAVE HAD ANY PROBLEMS WITH GTBK OR DENNIS TO CONTACT ME
EMAIL - [email protected]
PHONE -717-774-7080
My compliance department( Fortune 100 company) does not want me to be associated with him. Keep in mind that Dennis, Chris and Al told me when I joined if there was ever compliance issue we would work it out. In addition my compliance department asked for information from GTBK and GTBK ignored my requests.
I had a call set today with Dennis to discuss this and he refused to speak when I stated I was recording the call. Interesting that I was told when anyone calls GTBK they record the calls. I have asked for copies of those calls and been ignored. Interesting that the man who directs the companies to make the calls and record them will not allow himself to be recorded.
I WOULD LIKE ANY ALL PEOPLE THAT HAVE HAD ANY PROBLEMS WITH GTBK OR DENNIS TO CONTACT ME
EMAIL - [email protected]
PHONE -717-774-7080
KENNEDY
New Member
- 11
Please do I am collecting names of people at this point and would appreciate having your information. I am unware of the receivership issues. Please email me info or call me.
Thank you
Brian
