J.G. Wentworth

The J.G. Wentworth Company

Type	Public
Traded as	OTCQX: JGWE
Industry	Finance
Founded	1991 (1991)
Headquarters	Radnor, Pennsylvania, U.S.
Area served	United States
Key people	Stewart A. Stockdale (CEO), Roger Gasper (CFO) Stephen Kirkwood(CLO) Greg Schneider (CIO) John Owens (CMO)
Services	Buys Structured Settlement payments  · Fixed Annuities  · Lottery Winnings  · Lawsuit Advance
Website	J.G. Wentworth

The J.G. Wentworth Company is a diversified financial services company, focused on providing direct-to-consumer access to financing solutions through a variety of avenues, including: mortgage lending and refinancing, structured settlement, annuities, and lottery payment purchasing, prepaid cards, and access to providers of personal loans.^[1][2] The firm is currently traded publicly on the OTCQX (Symbol: JGWE).^[3]

In the United States the company is most commonly known for its advertising commercials that feature "Mr. Wentworth",^[4] but more recent commercials include a Wagnerian Opera singer.^[5]

The tagline featured in the commercials is "It's your money, use it when you need it!"

History

J.G. Wentworth was Founded in 1991 as a merchant bank specializing in transactions in the healthcare industry.^[6][7] In 1992 the company began to purchase New Jersey's auto insurance deferrals from claimants who could not afford to wait 12 to 18 months for their settlements.^[8]

Prior to 1999 there was no state regulation for structured settlements in the state of New York. Eliot Spitzer entered into a contract with J.G. Wentworth to help protect New Yorkers from selling their settlements at exorbitant rates. The agreement stipulated that J.G. Wentworth could receive a rate of no more than 25 percent of the annual discount rate of annuities it had purchased from a citizen of the state of New York.^[9] At the time, a JGW executive told the New York Times that the firm sought the agreement because of the rate at which its business had grown in recent years.^[10]

In May 2009, following the Financial Crisis, J.G. Wentworth's parent compeny, JGW Holdco LLC, entered Chapter 11 bankruptcy protection. The company said that “liquidity problems amid a tightening credit market” led up to their filing.^[11] In June 2009, JGW Holdco LLC received $100 million in equity from primary stakeholder JLL Partners. This allowed the company and its subsidiaries to emerge from bankruptcy.^[12]

J.G. Wentworth and Peachtree Financial Solutions, which also purchased structured settlement, annuity, and lottery payments, formed a new holding company, JGWPT Holdings LLC in 2011. The two companies did not merge, but continued to operate independently after the transition.^[13]

In October 2013, the firm filed for an IPO,^[14][15] which was offered the subsequent month (November). The company was initially listed on the NYSE under the symbol JGWE. ^[16]

In 2015, J.G. Wentworth began expanding their financial offerings by purchasing WestStar Mortgage for $54 Million in common shares and cash.^[17] In the same year, the company also announced a partnership with Visa to offer a prepaid card to customers.^[18]

In June 2016, J.G. Wentworth was delisted from the NYSE due to a failure to satisfy the continued listing rule.^[19] On the 20th, the company began trading on the OTC Markets Group under the symbol JGWE.^[20]

Commercials and awards

The commercials that run on daytime television in the United States featuring "Mr. Wentworth" are how the company is best known. They have had many series of commercials with Mr. Wentworth; however the most recent series includes a Wagnerian Opera singer, also known as the Viking singer.^[21] The tagline featured in the commercials is "It's my money and I need it now!", and "It's your money, use it when you need it!"

JGW has won several awards both domestically and internationally for their television advertising, including a silver Davey award.^[22] The commercials feature a singing "Opera" star who recites in a deep voice "if you get long-term payments but you need cash now!". The "Wagnerian Opera" commercial won two International Summit Awards for Best Humor and Best TV between US $75k and US $100k.^[23][24]

J.G. Wentworth Brands and Subsidiaries

J.G. Wentworth owns and operates under a number of brands. The main 2 brand owned by J.G. Wentworth are J.G. Wentworth and Peachtree. Additional brands and subsidiaries include:^[25] J.G. Wentworth, LLC, Peachtree Life Settlements, LLC, J.G. Wentworth Home Equity Services, LLC, Orchard Acquisition Company, LLC, J.G. Wentworth Structured Settlement Funding II, LLC, PeachHI, LLC, J.G. Wentworth SSC, LP, Red Apple Management Company, LLC, Golden Apple Management Company, LLC, J.G. Wentworth Management Company, LLC, J.G. Wentworth Originations, LLC, Green Apple Management Company, LLC, Qualified Provider Associates, LLC, JGW Pre-Settlement Funding, LLC, Cash Now Loans, LLC, J.G. Wentworth Receivables II, LLC, Peachtree Originations, LLC, Lottery Originations, LLC, Settlement Funding Management Company, LLC, Peach Holdings, LLC, Receivables Collections, LLC, JGW II, LLC (“JGW II”), JGW III, LLC, JGW-S LC I, LLC, JGW-S LC II, LLC (“2011-A”), JGW-S Holdco, LLC, LCSS, LLC, JGW-S I, LLC, JGW-S II, LLC, JGW-S III, LLC “JGW-S III”), R.C. Henderson, LLC, 321 Henderson Receivables Acquisition, LLC, JGW Residual I, LLC, JGW-S IV, LLC.^[26]

References

External links

• Official website

Corporate finance and investment banking
Capital structure	Convertible debt Exchangeable debt Mezzanine debt Pari passu Preferred equity Second lien debt Senior debt Senior secured debt Shareholder loan Stock Subordinated debt Warrant
Transactions (terms / conditions)	Equity offerings At-the-market offering Book building Bookrunner Corporate spin-off Equity carve-out Follow-on offering Greenshoe Reverse Initial public offering Private placement Public offering Rights issue Seasoned equity offering Secondary market offering Underwriting Mergers and acquisitions Buy side Control premium Demerger Divestment Drag-along right Management due diligence Managerial entrenchment Minority discount Pitch book Pre-emption right Proxy fight Post-merger integration Sell side Shareholder rights plan Special situation Squeeze out Staggered board of directors Stock swap Super-majority amendment Tag-along right Takeover Reverse Tender offer Leverage Debt restructuring Debtor-in-possession financing Financial sponsor Leveraged buyout Leveraged recapitalization High-yield debt Private equity Project finance
Valuation	Accretion/dilution analysis Adjusted present value Associate company Business valuation Conglomerate discount Cost of capital Weighted average Discounted cash flow Economic Value Added Enterprise value Fairness opinion Financial modeling Free cash flow Free cash flow to equity Market value added Minority interest Modigliani–Miller theorem Net present value Pure play Real options Residual income Stock valuation Sum-of-the-parts analysis Tax shield Terminal value Valuation using multiples
List of investment banks Outline of finance