• Report: #507416

Complaint Review: WFG - World Financial Group

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  • Submitted: Sat, October 10, 2009
  • Updated: Mon, October 19, 2009

  • Reported By: verysmartme — Santa Clara California USA
WFG - World Financial Group
1290 Oakmead Pkwy. Suite 230 Sunnyvale, California United States of America

WFG - World Financial Group Do not Believe anything they say Sunnyvale, California

*REBUTTAL Individual responds: Following up on verysmartme's report

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I got a phone call from a lady who introduced her name to me as "Nyen" (I am not sure if that is how it should be spelled), she told me that a friend of mine recommended me to her as I am very hardworking and have good work history. She said that they are currently expanding their office locations and would need someone like me, asked me some questions on how long I have been working and what kind of work I am doing. She sounded very polite and professional and since a very nice friend of mine is the person who gave away my number to her so I kinda trusted her a bit. She schedules for us to meet for an interview. I missed the first one but she was very eager for us to meet so we met yesterday, Friday (October 10) at 5 pm.


Since I am a person who doesnt want to be late in any appointment, I was so in a hurry to finish my parent-teacher conference that I've scheduled for the day just to see what is this "job" would be.


I arrived 5 minutes before 5pm, and no one was at the front desk so I called her on her cellphone, right away, she got out of her office and asked me to come in. She started with a statement saying "If someone would offer you a job  that would make your life better, are you willing to leave your current job right now?" I was kinda' offended with her statement so I told her, well, I could not answer your question because I am not the type who decided in a snap of a finger, especially that I have worked so hard to achieve my career and presently very happy. She did not get an answer for me but she started talking about how teachers in the US are not getting paid well, etc, etc, and that I deserve better, etc. etc, saying some realted stories about her childhood as a student and that her teachers are very nice, etc. etc (for me, I was just looking at her and at that point I know that she is making up stories. I have learned non-verbal clues of a person who is lying and I have seen a lot of her gestures that tells me that she is not sincere, especially that she keeps saiying that she don't lie.


After an hour, she finally showed me a dream map of how their company works, how I am going to earn some money but in my head, I know that she will just end up selling me something in the end but I remained respectful eventhought I loved to really leave her office immediately because I felt that it was a waste of time.


Finally, she asked me, so do you think you have families and friends that you could help out? I calmly said "no." she was very persistent on getting me to agree with her but did not get any positive response so she began telling me about it is easy and I could earn a certificate, blah blah and that I have to pay $100.00 for a background check to make sure that I do not have any crimial records or misdemeanor, etc. when I said that I have to think about it and could not decide right now, she told me that she really have to have my background check because she trusted me as a person. How unreasonable, right? Who is the stupid person who would actually say that to someone who is being offered a so-called job??? Well, anyway, I just told her that  "I am sure that I do not have any bad records because I am a teacher. She stopped and was thinking on how she could convince me again so I would pay before I leave. Finally, I told her that I have to pick up my son from after school activity and that I am very tired already, when she knew that she can not be able to convince me to sign anything, she got up and was ready to let me go. Before she finally let me go, she wanted to schedule me to see her with my husband during my lunchbreak, or during saturday, etc, both I refused and told her that I will just call her.


Well, after I left her office, I felt good that I have not been fooled. I was trying to recall all her inconsistent statement on how I would earn some extra money, but seems very unbelievable. Today, I still have her thoughts and wanted to see how legit the company was. To my surprise, there were soooooooo many victims already. I would love to file a police report about this and be able to help out those we were victimized. I just feel so sorry for those people who would fall into her trap.


This report was posted on Ripoff Report on 10/10/2009 05:16 PM and is a permanent record located here: http://www.ripoffreport.com/r/WFG-World-Financial-Group/Sunnyvale-California-94085/WFG-World-Financial-Group-Do-not-Believe-anything-they-say-Sunnyvale-California-507416. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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Updates & Rebuttals

#1 REBUTTAL Individual responds

Following up on verysmartme's report

AUTHOR: Mkt80 - (USA)

This is not a rebuttal to the above report by   verysmartme , but a follow up. I have just joined this WFG company 2 weeks ago and I have already regretted stepping into the door. First of all I had some experiences with a couple of MLM 6 to 7 years ago: a few months in Quixta r and like wise in HerbaLife . I can tell everyone here that I didn't make any money and instead I lost some. These companies all ask for your money up front as part of the sign-up process, under the disguise of "registration" fee and in the case of WFG, "background check fee" (which was $100.00) I just had to slap myself in the head today for making the same mistakes again and asked myself: First of all what kind of business practice is this for a hiring company to ask for new employees' money upfront? They might as well ask you for a "membership" fee to be "part of the dream" team. I do not understand...  Second , the people: it's always the push for more people. This is the part that gets me the most. After I quit Quixtar and Herbalife, I started to study the MLM cases one after another. WFG, like what I observed with Quixtar and Herbalife, focuses primarily on training you "how to build a team/system", i.e. how to get more people into the company the same way you did, and do the same thing you do (which is for them to get more people to join the same way, instead of how to actually sell the product). They seldom talked about their products, let along teaching you about them. With Quixtar and Herbalife, at least the products are tangible and the customer/consumer can throw them away and not be stuck with them, if the products (soaps, detergent, herbal pill, beauty products... etc) don't work out for them. But with WFG... they are selling Life Insurance.... and investment.... with the clients' money... things not exactly to be trifled with. After a lengthy talk with a God-sent friend tonight, who is much keener in the finance and how money works than I do, I came to realize the potential danger associated with the kind of products WFG sells.... one of them being the GIUL, or Global Index Universal Life insurance.... Universal Life insurance, as my friend explained to me, is not exactly a scam or a bad thing.... if you are a financial expert who is crazy enough to get this product in the first place as a mean of playing with tax... another words, this is a potentially very risky policy where you can borrow against it with your own money  (the loan) , on your own money (saving account).... not something to be handled by someone who has just gotten hired off the street (or at a local Starbucks). Thereby this brings me to the third point.... training the new trainees to bring the cases to their upline to close it... So who's making the commission here? Our new recruits? Most people I have seen so far are from average, middle class bracket, therefore it is not a hard guess away from any educated fellow citizen to realize that they Do Not have the same kinds of experience and expertise of a professional financial advisor/broker. What kind of customer would seek a financial service/products from newly hired agents (who themselves at their first day in the company was not explained the products in specific details, btw)? I've seen a lot of young people (age 30 and under ) during one of their BPM's (Bring People to Meeting) I've attended recently, and most of them were absolutely hooked to the large amount of money they could potentially earn in the near future. I am shaking my head right now for not seeing this more straight through the first time around. I should have seen this coming, really. Lord, this greed and money-blinded sight is no good. So, I am taking some time to make this follow-up report long, to provide as much information as I can to all who may be in contact with this company. I just hope all who read this report may have this mentality as well. I also want to echo verysmartme (who posted the original report), that there some poor, innocent people who deserve some sympathy from the ones lucky enough to not be drawn into this. But there is a lesson that needs to be learned: know all the facts before you commit into something nowadays, especially the ones that touch not only your money, but also the ones around you... (your loved ones, friends, relatives, co-workers, etc). WFG is Not a scam, as well as they advertised. They are indeed regulated by the federal and state government with their business dealing... but don't be fooled into joining them without doing a goooood research. Take a close look at their products and ask them how they can actually bring you the money. INSIST ON: Asking them the specifics regarding the company structure (the company is MLM, but they will say 'no, it's independent contractor'), the commission they bring you (work out the math, and compare with the rest of the industry), how much will it cost you to join... and WHY do they want to train you to recruit other people (they will be asking for your cellphone!!! For all of your contact numbers deemed approachable!!) when they should have taught you about the products.  Finally, before the criticism regarding my quitting of the previous 2 MLM before I make any money (I might quit WFG soon as well) come in, I want to refer the readers back to my third point. I was young back then and was absolutely naive about economics, let along on how to run my own business. I had no proper mind set, skills, experiences, or proper drive to do that... and the only thing that kept me going was the promise of making big bucks and the early retirement and the life of a dream - empty, vain promises that is absolutely useless in running a business. My own fault for not being careful indeed.... But many, many people in this kind of MLM right now are young people, who are in exactly my situation half a decade ago... after they joined the company and spent the background check fee (provided they believed in the vague and basic economic information presented to them as a surprisingly uninformed crowd), they were not taught on how to run a business like the rest of the world.... like risk planning and management, market research and so forth..... but rather, they were trained on how to grab more people, who in turn will grab more people... to join a company that sells..... something they don't even know what is.  Once again, please gather all the facts you can before you sign anything! Know your risk! http://www.city-data.com/forum/business/121020-wfg-pyramid-scheme-cult-legit-business.html
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