West Coast Financial Services

I would like to share that West Coast Financila has provided excellent services regarding helping my father in law rest knowing he has funds coming in each month. [redacted] is a good Christian guy who only thinks about "Doing the right thing" for all his clients. I would highly recommend using their firm. The staff is always kind and in being there to help you along the way.

Three years ago [redacted] sold my 80 year old father a ~$112,000 annuity. Three years later my mother is suffering from severe dementia and needs 24hr supervision and my dad is also in need of living assistance. I stepped in to help sort out Dad's finances to see how we could pay for home care and/or assisted living. I discovered that he cannot withdraw the money w/o significant surrender charges for 12 years (decreasing % each year 12% -1%). So to access the money to pay for assisted living for my folks they will have to pay a surrender charge of over $12,000.

So who sells an annuity to an 80 year old man that does not have full access to the funds w/o surrender charges until 12 years after he buys it when he is 92?

Yes what [redacted] did is legal AND it is wrong. Dad has no other cash assets and does not own property. His only source of income is his social security. [redacted] is no financial planner.