According to the complaint, the defendants train their Education Counselors not to “look like, act like or sound like, a traditional salesperson,” but instead to take on a “role” and lead consumers through “The Pain Funnel,” Q&A designed to overcome consumer qualms. The defendants assign each attendee an “Education Counselor” – a/k/a salesperson working on commission – who follows up by phone or email. Next, people pay $299 for a three-day “orientation.” That’s where the defendants urge attendees to sign up for seminars costing thousands more.

First comes an in-person “preview” seminar. The complaint recounts the process the defendants use to attract consumers through TV and radio ads, online promotions, and direct mail. They claim their “training programs” – with price tags as high as $50,000 – will teach consumers how to “invest like the pros on Wall Street.” ”No matter your experience and goals,” people were told the defendants’ “proven” strategy was “designed to make money in any market, whether it’s going up or down.” In addition, the complaint alleges violations of the Consumer Review Fairness Act.Īccording to the FTC, the California-based operation, related companies, and three individual defendants advertise a “patented strategy” that consumers can apply “to any asset class including stocks, options, futures and currencies” to rake in big money. An FTC action alleges a company called Online Trading Academy has taken in more than $370 million by gearing its deceptive representations to that demographic. About the FTC Show/hide About the FTC menu itemsĪds for health products often target Boomer Consumers, but those aren’t the only claims pitched to people looking toward retirement.News and Events Show/hide News and Events menu items.Advice and Guidance Show/hide Advice and Guidance menu items.

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