“If you complete and return the 2-page form sampled above, your broker could pay you $2,100 in less than 2 weeks. What’s even more incredible is that soon after you could receive an additional check for about $1,200.”
That’s the latest “free money” tease from the folks at Stansberry & Associates — leading us into a letter that promises income without having to buy a single share of stock (or bonds, or anything else like that). Could it possibly be real?
Well, the short answer is, “sort of” — as long as you don’t believe that it’s really completely “Free.”
And the long answer? Well, for that let’s peruse our clues:
Apparently, if you fill out this two-page form before June 12 and send it to your broker, you could get $2,100 on that date after you give your broker “two instructions.”
All you have to add to the form are “name, address, phone number, and a few other basic details.”
Of course, we all know what’s in the details … that’s right, the devil. Eeek!
The example of Smith Barney is used …
“Like all brokerage firms, Smith Barney accumulates millions of dollars through buying and selling stocks, trading options, and charging annual maintenance fees.
“But what you may not realize is that Smith Barney (like every other U.S. brokerage firm, whether online, discount or full service), is legally required to pass on a portion of this cash to anyone who wants it.
“For example, if you had filled out Smith Barney’s 2-page form at the beginning of last year, you could have since collected up to $6,500.
“You see… each month, brokerage firms offer payouts to those who fill out a 2-page form requesting what I call ‘unclaimed dividends’.
“I call these payouts ‘unclaimed dividends’, because most investors don’t know about them and, as a result, the money usually sits unclaimed.
“Naturally, you won’t collect this money unless you ask for it. There isn’t a single brokerage firm in America who will offer it to you upfront.
“But if you take the time to fill out a simple 2-page form (which I’ll explain below), you’re entitled to receive as much as $2,100, effective immediately.”
What on earth are they talking about? Smith Barney is required to pass on a portion of their cash to us? Really?
Again, “sort of” … but not really. Let’s continue.
There are some more clues.
There is an “approval process” after you submit this form (meaning, the broker has to approve you for this “dividend.”)
We get a few quotes: Kiplinger’s apparently noted in this article that this kind of trading was the “province of professional traders.”
And some Minnesota farmer named Jim Bracklin apparently invests exclusively in this, according to Barron’s. No, I don’t know who he is, either.
So what else do we know about collecting “unclaimed dividends” — aside from the fact that Jeff Clark thinks this is the “single best income generating strategy in the world?”