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In Reply to: Re: Ken Young? posted by Cullen on April 25, 2005 at 13:57:28:
PFS owes its existence to Ken Young. Had it not been for him, it is possible that Art Williams' enterprise would have been squeezed out of the market due to lack of momentuem. Allow me to explain.
In the late 70's and early 80's A.L. Williams was a young, startup company trying desperately to make headway in one of the largest, most established industries in the world. Cash flow was always a challenge and the company was universally despised by its competitors. These companies mostly worked quietly behind the scenes lobbying state legislatures and had some success in doing so.
Art Williams came to the realization that he needed a national platform to ultimately overcome these challenges and knew that he did not have the budget to launch an advertising campaign to counter his opponents. Running out of options and money he finally zeroed in on an outspoken critic who worked for the company who best represented everything he loathed in an insurance company.
For $75,000 he was able, with the stroke of a pen, to gain a national audience for his "crusade" and literally wipe out the gains his competition had made through their lobbying efforts. Virtually overnight the debate shifted to the practices of the insurance industry rather than those of ALW and the record will show that from 1984 through 1989 ALW's sales volume soared to the top of the charts and eclipsed all previous annual sales records each of those years.
The growth during this period is unprecedented in the 150 year history of the industry. It is almost mind-boggling to understand that this success can almost single-handedly be attributed to a single out-spoken critic whose style and approach so disturbed and infuriated the public that they pulled the plug on the entire industry and literally forced the explosion of term insurance the past 20 years.
In the end the ALW (as it was known) went on to surpass 400 billion in in-force life insurance; Art Williams went on to become a billionaire and one of the richest men in America and one of the nations biggest philanthropists according to Forbes and the one outspoken critic was eventually forced into early retirement and a new career as a fraud consultant against the company and industry he so proudly represented for many years.
Today the man of which we speak is absolutely consumed by and rails against day and night the monster he solely created. Draw your own conclusions.
