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Lokey bought his first structured settlement as an investment. He was impressed with the yield it offered and began an inquiry into the possibility of purchasing other structured settlements. Through his research, he uncovered a huge market for such investments and provided curious investors with a textbook approach to investigating the viability of a cash flow, especially one related to legal or governmental actions.
Although the laws appeared to be unfavorable toward the secondary structured settlement market, they did not prohibit its creation. It took time to design a set of legal documents that would bind the transaction activity that required a state-by-state review.
Today, lawyers specializing in structured settlements caution their clients not to sell them on the secondary market. They fear their clients might sell something that has been set up to meet their needs for many years to come. Lokey has the same concern. He says that his primary interest is meeting a seller's specific need for immediate cash, and by purchasing only that portion of the structured settlement that addresses the seller's need, he too protects the client.
James Lokey is the Cash Flow Pioneer who found, investigated, and made practical one of today's major cash flow opportunities, the structured settlement. He continues to set the example in the structured settlement market by maintaining the highest legal and ethical standards in the secondary settlement market.
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