Stewart Ogilby, Sr.
Sarasota, Florida

U.S. Navy(Air) Jan. 13, 1951 - May 13. 1954
Featured columnist, (2007-2017)
Author, "Financial Recovery" (1980)
THE BIGEYE @ BIGEYE.ORG (originally at

When reading Consumer Reports magazine back in 1978, I ran across its shocking article about life-insurance policies. I sent for their two-dollar paperback book that covered the subject in detail.

It explained how, in promoting investment type "cash-value" policies, companies load with overcharges the age-based risk of dying (natural premium). The overcharges that they call "cash values", "savings", or even a "retirement account", increasingly comprise the policy's "face value" (death claim). That "account" is owned by the company (if borrowed, interest is charged) and is managed according to the industry's "funny banking rules".

Financial Recovery was sold through a full-page advertisement in Life Insurance Selling magazine. Hundreds of copies were bought and read by life-insurance agents throughout the nation.

The rational solution, "Buy term and invest the difference", had been spearheaded by George Diachok and Gordon Eddolls at the brokerage firm of Waddell and Reed. A dynamic Georgia high-school football coach, Art Williams, having obtained an insurance license to supplement family income, received his initial life-insurance training working with Waddell and Reed.

George and Gordon left Waddell and Reed, to found Multi-Financial Corporation (MFC) in Denver, Colorado. In response to their trade magazine advertisement, I phoned George Diachok. He flew to Columbus, Ohio and we met for dinner near the airport. Having read my book, Financial Recovery, George recruited me as Marketing Director. I helped Multi-Financial to make a lot of money while earning excellent income for my own family.

Using a $5M closed circuit TV resource, Art Williams launched A.L. Williams and Associates on a national level, the business that made him into a multi-billionaire. Of course, it was a full decade before today's personal computers. I received a phone call from Bob Turley (formerly a pitcher for the N.Y. Yankees) of A. L. Williams & Associates. He offered me a regional V.P. position. I was already making as much money as I needed and I had a responsibility to MFC and to the persons I had recruited and trained since getting my own license. I thanked Bob for the offer but declined the job. However, I referred to him one of my trained agents, a particularly ambitious fellow, who accepted the position.

The Financial Recovery exposure was largely responsible for the industry's creation of Universal Life Insurance. UL consists of decreasing term life-insurance combined with flexible overcharges that create its CASH VALUE, permitting company agents to pitch it, as usual, as an investment.

Universal Life Insurance has turned out to be even more damaging for purchasers than Whole Life Insurance and related cash value products. See items #92, #93, #94, #95, #96, and #97 within the updated bibliography of Financial Recovery. Its appropriate replacement today, using annuities (and/or conservative registered funds) together with low-cost term life insurance, if the need persists, presents an immense financial opportunity.

With today's internet, the time has come for a nationally licensed insurance brokerage business (or a unique company) and a team of branded Wisebird agents to reposition TRILLIONS OF DOLLARS in overcharges that have been pitched as "investments" over the past forty years by life insurance salesmen.

The business will again generate BILLIONS OF DOLLARS IN COMMISSIONS for a marketer of competitively priced term life insurance.

To understand why I dedicated Financial Recovery to the late Senator Philip Hart, read its Introduction. My book was directed to licensed agents for their information and enlightenment, not to the general public as has been done for years by dozens of authors (see its bibliography)

It would be nice to think that the industry's actions with the public improved with the change from the companies' agency marketing structure to today's independent agents. Quite the contrary. It is not only agents for the life insurance companies who continue to push the sale of cash-value policies. Many "fiduciaries" and registered advisers sell trillions of dollars of Universal Life Insurance, a high-commission cash-value product, as well as traditional "whole life savings plans".

Why use a Wisebird agent or become one yourself? Review #92, #93, #94, #95, #96, and #97, in my book's updated bibliography Don't be surprised, given the history of the industry that designs hybrid "investments" for persons seeking protection against the financial risk posed by an untimely death.

I gave public seminars twice a week (Tuesday evenings and Saturday mornings) that persons interested in their own family's finances and/or in a worthwhile personal career were welcome to attend. Those who decided to join us were given help in the licensing procedure and assigned to one of my general agents when completing seminar attendance. We became one of the largest personal lines insurance agencies in the country.

More information about that hugely successful business, from which I retired to Florida in 1986, can be found online at

Following the publication of my book, by doing this business in Ohio I made over $400,000. During the same years, by replacing cash value insurance nationally, its entrepreneur became a multi-billionaire. A repeat is called for, not only for financial profit but also in the public interest.

A fortune will be made by BRANDING the team's agents (wearing their "WiseBird" cap, or visor, and shirt) during face-to-face and remote sales presentations.


Today's social media make this consumer friendly business a "no brainer" for creative marketing together with exclusive use and editing of related internet domains. I can provide help. If you are interested call (941) 545-3600..

I love living in Sarasota despite its tremendous growth since I arrived in 1986. In 2010 I was a founding member of our local exceptional classical music station, WSMR.ORG that can be listened to, streaming online, anywhere in the world. If you love classical music, enjoy our station online. I have been on the Faculty Advisory Committee of Manatee Technical College, a member of the Sarasota Sailing Squadron, a member of Sarasota's Senior Friendship Center, and have been a member at HealthFit, a facility owned by Sarasota Memorial Hospital, since it opened. I value acquaintances met when visiting these facilities. In excellent health, I was a competitive swimmer in high-school and college and love to swim strenuously several times a week.

I have posted online a huge problem for families, in addition to life-insurance scams, that I have studied over the years and even experienced myself. It involves lawyers (surprised?). Billions of dollars in family assets are siphoned off by tricky lawyers in a process called "probate" instead of being passed on to surviving spouses, children, and charities, as intended by the deceased person who had a "Will" prepared, or who paid for a trust that (oddly?) turns out to be legally defective.

In an online search one will find hundreds of pages about living trusts, most of which are quite accurate. That does not mean the legal profession does the job properly, as I learned through personal experience. Honest lawyers with whom I deal tell me that a huge percentage of trusts that they review will wind up in probate, having been prepared improperly. Many are never even properly funded! Probate legal fees and probate trust-administration legal fees are tempting.

Probate is a system that is supposed to ensure that a dead person's debts and taxes are paid, that his Will is valid, and that his estate will go to those named in a Will. Ralph Nader (himself a lawyer) described probate as "the screwing of the average corpse." I freely refer persons to selected attorneys in Florida, or in their own state when available, to handle their estate planning needs.

Should a non-lawyer elaborate on this subject the profession defends itself by threatening to levy a charge of illegally practicing law (UPL - the unlicensed practice of law). This feature of the estate-planning (Wills and trusts) legal profession has been referred to by honorable lawyers as a multi-billion dollar racket.

You can buy a small (70 page) book at Amazon titled "Estate Planning Basics" by Jeffrey Marsocci, Esq. Written by a guy who calls himself "The Plain English Attorney". It is a simple, plain English guide to estate planning concepts. I keep copies in my office because, in my view, Jeff's book does the very best job of explaining complex legal matters simply, steering its readers away from lawyer minefields. The website I have written on this subject is

Many persons are grateful to learn that having an appropriate revocable living trust economically prepared does more than merely address the potential probate matter. It also provides families with important solutions for specific living situations.

Comments/Questions (No legal advice given)
(941) 545-3600