Celebrating Our 263rd Anniversary

Celebrating Our 263rd Anniversary

April 1, 2015 – Although most of our clients have come to think of the Finn Financial Group as the people who help them meet their 21st century future financial security needs, it is with great pride that we pause today to pay tribute to our firm’s original founding father who, on this day in 1752, originated the concept that would grow to be known as a structured settlement.

When my 6th great-grandfather Benjamin Franklin, in his spare time and before his foray into starting a new country, founded the Philadelphia Fire, Life and Structured Settlements Company, he did so with the noblest of intentions. He wanted to do something that would, according to his will, “secure the blessings of financial security to (him)self and (his) posterity” in hopes that his many offspring and their descendants would be properly taken care of.

With that simple mission, he allocated a portion of his wealth to be set aside in such a way that, upon his death, it could be “structured to settle the meants which are and of Right ought to be . . . totally dissolved” and to “thereafter pay sums in perpetuity or until death, whichever comes first, with the interest therein earned” for all his descendants known and unknown.

“Meants” were the 18th century colloquial term for “intents” of those who had borrowed money. Today, we would call these debts.

Fearing overexposure, GB6 (6th great-grandpa Ben as we call him around the shop these days) didn’t want his new “structured settlemeant” firm to bear his name but did want to have at least some noticeable, if obscure, affiliation to its founding.

Upon arrival at the Fifth Continental Congress, he lamented, “Curse this rankling gout! Would that I could extract it from my surname and live in peace like the nobles I despise but strive to emulate.”

He paused, and then smiled realizing what had just occurred.

Then and there, in a rare display of humility but with typical ironic humor and quite by accident, he took the “rankl” out of F-rankl-in, added an extra “n” (in deference to William Penn whose hat he always coveted) and opened the doors to Ye Olde Finn Financial Structured Settlemeant and Annuity Shoppe.

Needing to take leave of the Congress to go next door to fill out the articles of incorporation for his new venture, he asked a young Virginia delegate tasked with drafting what he thought was the luncheon menu to mind his papers until he returned. Only later would he realize he had neglected to remove a copy of his will from his satchel which was liberally borrowed from by Thomas Jefferson in creating something that was not a luncheon menu after all.

So please join us in celebrating our 263rd year in offering structured settlements and specialty annuity products and services. We’re proud to be of service to you and look forward to our next 263 years!

Sincerely,

Dan Finn

(PS Dedicated to my friend, structured settlement mentor and world’s best practical joker Bob Kringlie for whom April 1 – our firm’s actual first day in 2009 – was considered a national holiday)

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