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“NASCAR star Kyle Busch and his wife, Samantha, recently said they lost more than $8 million after buying a life insurance policy that they claim was pitched to them as a ‘tax-free retirement plan.’” https://moneywise.com/insurance/life/kyle-buschs-8m-loss-is-a-warning-to-those-with-this
No one is immune from predatory practices in the life insurance purchasing process. Misleading claims used to sell “tax-free retirement income” through life insurance plans are common and can cause serious harm to individuals and their families.
The Life Insurance Consumer Advocacy Center is committed to bringing awareness to these practices and advocating for policy changes that will protect consumers.
Learn more about our thoughts on the lure of tax-free retirement income, and why these policies often do not work in practice, here: https://www.lifeinsuranceconsumeradvocacycenter.org/the-lapse-problem/
The problem with hidden fees: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/hidden-fees/
The issue of consumer best interests: https://www.lifeinsuranceconsumeradvocacycenter.org/our-issues/your-best-interest/
The problem with especially tricky policies: https://www.lifeinsuranceconsumeradvocacycenter.org/lack-of-transparency/especially-tricky-policies/
09/17/2025
We believe agents selling life insurance products should be required to recommend only policies that are suitable for the consumer and must be required to act in the best interest of the consumer, i.e. without regard to their own interests, which are often in conflict with the consumer’s. However, currently policies and regulations do not require this, negatively impacting consumer protections.
To learn more about agent conflicts of interest, visit: https://www.lifeinsuranceconsumeradvocacycenter.org/our-issues/your-best-interest/.
09/11/2025
Meet Our Team
Roger Patterson, founder of The Advisory Group of San Francisco, LLC, a fee-only fiduciary Registered Investment Advisor serving individuals, companies, and not-for-profit endowments and foundations. Though retired from day-to-day operations, he remains a co-owner and board member.
Roger started his career in estate planning and life insurance, later serving as Vice President of Financial Services at a Bay Area bank. In 1989, he founded one of the nation’s first fee-only, fiduciary firms, which became The Advisory Group of San Francisco, LLC in 1999. The firm focused on transparent, client-first financial planning.
A Stanford graduate (1963), Roger holds the Chartered Life Underwriter and Chartered Financial Consultant designations. He is actively involved in supporting under-served and less fortunate youth, currently involved with Blues in the Schools and other not-for-profit boards.
Learn more: https://www.lifeinsuranceconsumeradvocacycenter.org/about-us/roger-patterson/.
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