A few times out of the year, various financial advisors, radio and TV personalities, and such will host seminars at key cities to sell their wares or offer advice. I often attend seminars whenever I can to see what the current trends are and advice being doled out to the public.

A couple of years ago, I attended one of these shows with the intent of seeing a segment that began at noon. It was an all day affair and I arrived early morning, around 8:30 a.m, to watch the presenters. I don’t recall the exact name of the company or presenter but he was touting “Asset Protection Legal Kits” to attendees. The “kit” was essentially some legal forms to help individuals create LLC’s and other trusts to protect assets from lawsuits and the government. Part of the strategy was to create an LLC and wrap that inside some Family Limited Partnership and blend together with some offshore magic. The sales pitch was slick and I was tempted (for about 3 seconds) to buy the kit which was selling for about $4000.

At the end of the show, the announcer calls out that the first 50 or so customers would receive some free goodies and a discount to sweeten the deal. A wave of people ran to the back of the room to pickup their “kits” and free goodies.
I passed on the kit and as I waited for the next segment to start, I got a call on my cell that my kid was sick and I needed to pick up some medicine so I left the event. It was a two day event with the same show repeating on Sunday so the next day, I headed in a little later 10:30 ish to see the second segment that I missed the previous day. Lo and behold, the same “special” for the legal kit was happening but I noticed a funny thing…. the SAME people that ran to the back to take advantage of the “deal” on Saturday were the same people running to the back on Sunday!

I decided to do a little research on the internet to find out more about the whole asset protection concept and the “kit” and, as I suspected, it was nothing more than a gimmick. An expensive gimmick none the less!

After some more real asset protecion research I came across a really good book regarding asset protection. It was recommended by various experts and the legal/finance web community.

This week, I’ll be providing a brief review of some of the best financial books I’ve read and recommend. You won’t be seeing any “don’t buy Starbucks every morning” or “spend less than you earn” books here; these books will focus on things beyond Finance 101 – they are tactical and strategic finance books that will help you undestand some interesting elements about finance.