Dave Ramsey’s texts pitching financial education at center of 'do-not-call' lawsuit.

Dave Ramsey, evangelical Christian radio host and financial motivational speaker, is a favorite of financial advisors who pay his company for referrals of clients, the majority of whom are dedicated, loyal fans, readers, and listeners of his radio show.

But recent Ramsey’s pitches for financial education – sent via text messages – to at least one prospect were excessive, according to a Florida man who sued Ramsey’s business, Ramsey Solutions, last month, seeking damages for allegedly violating federal do-not-call laws.

Ramsey Solutions’ repeated and unsolicited text messages allegedly caused the plaintiff, Bretmichael Hood, “actual harm, including invasion of his privacy, aggravation, annoyance, intrusion on seclusion, trespass, and conversion,” reads the complaint in the lawsuit, which was filed Nov. 22 in federal court in Miami. Hood is a resident of Broward County, according to the complaint.

Ramsey Solutions’ text messages also inconvenienced Hood and caused disruption to his daily life, according to the complaint. Hood is seeking class action status for his lawsuit as well as up to $1,500 in damages per message for violations of the Telephone Consumer Protections Act.

A spokesperson for Ramsey Solutions, also known as the Lampo Group, did not return a call Monday to comment about the lawsuit.

Andrew Shamis, an attorney for Hood, also did not return a phone call to comment.

Hood received the first text solicitation in June, and replied “stop” six days later, according to the complaint, in an attempt to opt-out of any further messages.

“Hey there!” stated the text, according to the complaint. “This is Stephen with Ramsey education. I see you were interested in learning more about our Foundations in Personal Finance curriculum. you (sic) can schedule a quick 10-minute call to see if we are a good fit for you and serve you by setting your students up with the peace that comes from mastering personal finance.”

Hood then received two more solicitations, the final one in September.

Ramsey Solutions is not a broker-dealer or registered investment advisor yet plays a substantial part in some financial advisors’ practices, including many who are looking to increase their number of clients and assets.

Hood’s and other customers’ “opt-out requests were not honored within a reasonable time from when the opt-out request was made,” according to the complaint.

Financial advice firms have been penalized for violating do not call restrictions: Merrill Lynch in 2023 said it was paying $1.4 million in fines and costs over thousands of cold calls its trainees made to numbers on do-not-call lists between 2018 and 2020.

Ramsey's website, ramseysolutions.com, lists various products, shows and events, as well as "trusted services," a section where fans of the show can find real estate agents, tax advisors, and financial advisors, all with the Dave Ramsey stamp of approval.

A connection to Ramsey means potential big business for financial advisors, who are constantly searching for ways to meet new potential clients.

Financial advisors pay an advertising fee to Ramsey Solutions and are deemed SmartVestor Pros, part of an online directory of financial advisors in a geographic area.