Transfer of Berkley/Family First to Danvil Then to Legacy.

NOTICE for Danvil Plans Planholders

Go to this page immediately:  NOTICE for Planholders of Danvil Plans

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Most of the comments I’ve read on the Internet about Family First and Danvil condemn the high-pressure and sometimes traumatic marketing methodology of Family First/Danvil. And I understand. Because I was once pressured. And like them, I also spent nights thinking how I could be so gullible and so weak.


But later on, I had to decide: whether to lose what was first swiped off from my credit card or to continue paying to prepare for the future, as the agents said. The key factor then for me was the American firm Berkley, which launched the pre-need plans and which partnered with Family First to market its plans. I continued paying and fully paid my plan in 2005, eased by the thought that Berkley is an established American company and I’d get the results of my hard work in 2010, the year my daughter would  be in second year college.
But then, the announced transfer of the plan portfolio from Danvil to Legacy put doubts in my mind.


I emailed Danvil’s president, Mr. Daniel Villanueva, and demanded for the return of my money in full. But a few days after a one-on-one meeting with Ms. Aurora Dino, assistant vice president and branch head, at Danvil’s office in Makati, I reversed my demand and decided to go with the transfer.


Among Ms. Dino’s key arguments were:
•  They delivered letters to everyone about the transfer.  She said that’s one  sign of being in good faith.
• The Securities and Exchange Commission (SEC) has become stricter with    Danvil because of what happened to CAP, Pacific Plans and Platinum.
• Legacy is stable because it owns One Card, which has been accepted as an    affiliate of Mastercard International. (I don’t hear much about One Card,    however.)
•  She, Ms. Dino and most other Danvil officers and personnel, will be transferring to Legacy as part of the portfolio deal.
•  She described her professional and personal circumstances and said that I can   depend on what she says and that I can trust her.

Last July 2008, Ms. Dino emailed me and said that the transfer is still in process and is not yet a done deal.

I’ll suspend criticizing Family First or Danvil online because I’m still hoping that Danvil can resolve whatever has prompted it to negotiate a deal with Legacy.
Lastly, I believe that Berkley, which launched the pre-need portfolio and then later sold it, has a moral obligation to ensure that the planholders get the results of their investments on time and in the right amount.

180 Comments

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