Founded in 2004 by Parinello and Mike Toloff, Financial Education Services, Inc. (FES) operated as a multi-level marketing (MLM) company. Its flagship product was the "UCES Protection Plan," which bundled services including credit repair, credit monitoring, budgeting tools, and will and trust preparation. The company's business model focused on recruiting a network of independent agents to sell these services and to recruit new agents. In 2022, the FTC filed a lawsuit against FES, alleging it was operating an illegal credit repair business and a pyramid scheme. In March 2023, the company and its owners settled with the FTC, agreeing to a permanent ban from the credit repair and telemarketing industries and a significant monetary judgment, fundamentally altering its business operations.

Founded in

United States