JG Wentworth Adds Joseph Toms to Its Executive Team, Plans Aggressive Expansion into Consumer Lending

Well-Known Consumer Financial Brand Wants to Make it Easier for Americans to Get, Pay Back Loans

CHESTERBROOK, Pa., March 21, 2022 /PRNewswire/ -- JG Wentworth, the industry leading consumer financial services company that helps consumers experiencing financial hardship or who need access to cash, announced today that fintech lending pioneer Joseph Toms will be joining its executive team as President and Chief Strategy Officer. In this role, Toms will lead strategy for the company's portfolio of product offerings. Toms will also lead the expansion of the company's brand, including 877-CASH-NOW, by designing and launching consumer lending products. In the next year, the company plans to introduce personal loans for consumers with less-than-perfect credit to complement its newly formed debt resolution operations. JG Wentworth is hiring hundreds of people across the country who want to join the team in its mission to help consumers in need. The company is also exploring strategic merger and acquisition opportunities to more quickly scale its consumer lending business.

Toms comes to JG Wentworth after serving as the President and Chief Investment Officer at Freedom Financial Asset Management, where he developed and led a successful consumer personal loan lending and asset management program that originated over $7 billion in unsecured loans. Under his leadership, Freedom developed a robust asset backed securitization program and was the only personal loan lender to receive Triple AAA ratings from DBRS Morningstar and Kroll Bond Rating Agency. Prior to Freedom, Toms was a C-Level executive at fintech consumer lenders, Lending Club and Prosper Marketplace. He began his career at Fisher Investments where he was one of the original equity owners and Director of Research. Toms has appeared on CNBC and has been featured in Barron's, the Wall Street Journal, and other financial publications.

"For 30 years, our brand has stood for getting cash to people who need it through a variety of financial products," said Randi Sellari, CEO of JG Wentworth. "We are very excited to expand our brand promise with the addition of a consumer lending platform designed by Joseph Toms. Joe knows the fintech consumer lending business better than anyone in the industry. These initial loan products will be designed so that consumers who qualify get access to fairly priced credit to support their families and financial needs. Our hope is that our lending products will create an environment where people in need can borrow at fair rates and improve their overall financial condition. We will not let a FICO score be the driving factor in whether someone receives a loan from JG Wentworth. "

JG Wentworth's decades of consumer finance experience, including many asset backed securitizations, makes it uniquely positioned to introduce consumer loan products that benefit borrowers with access to fairly priced credit and investors who desire strong fixed income returns. Beyond its broad and iconic consumer name recognition, JG Wentworth has over three decades of proprietary consumer financial insights that provide rich asymmetric data capabilities to calibrate consumer credit risk. It also has in place a large-scale customer service operation that will enable it to best service consumers as they search for the right products that fit their needs.

"All of my experience in fintech lending and asset management tells me that people borrow and invest in companies that they know and trust," said Joseph Toms, President and Chief Strategy Officer of JG Wentworth. "JG Wentworth has proven over decades that it has consumers' best interests at heart by providing them access to their money needed at important times in their lives. That, combined with its brand, proprietary data, and organizational excellence means we can deliver great products to consumers and investors at scale. I am excited to join the JG team to develop something truly special that redefines how personal lending is done."

About JG Wentworth
JG Wentworth is a consumer financial services company that focuses on helping customers who are experiencing financial hardship or need access to cash for their daily lives. Its services include structured settlement payment purchasing, annuity payment purchasing, lottery and casino payment purchasing, and debt relief services. JG Wentworth was founded in 1991 and currently has offices in Chesterbrook, Pennsylvania, Radnor, Pennsylvania, and Rockville, Maryland. It has plans to open a Silicon Valley office in the near future. More at www.jgwentworth.com.

SOURCE The JG Wentworth Company