• Report: #125034

Complaint Review: WMA, WLG

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  • Submitted: Thu, December 30, 2004
  • Updated: Sat, August 04, 2007

  • Reported By:bayonne New Jersey
WMA, WLG
New York, New York U.S.A.

WLG World Leadership Group, WMA World Marketing Alliance Ripoff Preying on the Asian Community Multi Level Management New York New York

*UPDATE Employee: There is no Dream here?

*UPDATE Employee: WLG is not WMA

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I was an "Associate" with the the New York group and lost over $20,000 of my own hard earned money in the VUL (Variable Life Insurance Policy), and that is not counting the several hundreds I paid in fees to join the group. What a scam. They say that it is a legitimate business, but half of their agents don't know what they are selling. What they fail to tell you is that the so call "investment" portion of the policy does not get vested to you until many years down the road, which means so much of your money goes to the many tiers of the pyramid (Oh!!! so sorry, Multi-Level Management"). And after that many years, you already have too much piled in and feel too stupid to pull out.

But Don't blame the agents. Majority of the people there have been brainwashed and think they are in deed helping the Asian community. I don't care if some young graduates are all gung-ho in joining the club. I believe everybody should learn their own lessons. It's all part of growing up. I know I have because I had joined my self. But what I really have a problem with is that these agents prey on the timid nature of the asian community, and sell them something that they really do not have a basic level of understanding of. And when time comes for them to request a withdrawal for some emergency reasons, that's when the client realizes the painful truth. They are only entitle to a fraction of what they put in. And most of these clients are either non-English speaking, nor have a method to voice their complaints.

Those of you "Agents" think you are doing "Good". Look around when you run another BPM next time. These are your very own people that you are ripping off.

Also, the leaders all tell you that they make a lot of money to get you all excited to join. But I could never find out exactly how much some of these managers pull in in a year. The company parades them around with the check when it comes time to get paid. But if you add it all up, honestly ask yourself this question: how much am I really making in a year, meanwhile, having to be embarassed and defend your job when it comes up as a topic of discussion at a social gathering.

SIDE NOTE - I was invited by some agent to attend their X-mas party just past. I politely declined since she didn't know I was associated with WMA before. And here's the KICKER, they tell you that the company is doing so well and this and that. Well, with so much money being made, why am I being invited to a party and was asked that I have to PAY my own way of $40 or so to attend. Fropm my experience, during the party, 80 percent of that time is spent listening to somebody doing a dog-and-pony show with stupid awards touting the cult-like company again. Isn't it just another BPM?

And if Hubert Humphry is so honorable and sucessful, why are there so many lawsuits against his ever name changing and chameleon like company. You don't see a legitimate company like Coke or Microsoft having to change their names in order to mislead people do you.

THE LAST WORD - Do you AGENTS feel guilty and ashame when you look yourself in the mirror each morning knowing that you are ripping off your own people?

Brian
Manhattan, New York
U.S.A.

This report was posted on Ripoff Report on 12/30/2004 08:59 AM and is a permanent record located here: http://www.ripoffreport.com/r/WMA-WLG/New-York-New-York-10008/WLG-World-Leadership-Group-WMA-World-Marketing-Alliance-Ripoff-Preying-on-the-Asian-Commu-125034. 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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REBUTTALS & REPLIES:
0Author 2Consumer 0Employee/Owner
Updates & Rebuttals

#1 UPDATE Employee

There is no Dream here?

AUTHOR: Can't Fool Me Again - (U.S.A.)

It's sad to say but back in 04-05. My family was looking for way from out store and into a business where we would be at home more with the kids.....along came WLG...and we attended their "BOP" ***brainwash opportunitty presentation** at that time it sounded so good the mortgage business was up and everyone made money wow...get a few people to work for you and you don't have too(sounds like managing over people again like the store)...didn't matter we try it anyway.... Here the part that I should have waken up quit....
I don't come from the industry (mortage) and so believing the person that bought us in that they (support team at HQ) would be there to help...right from the start I have bough people into the "BOP" and got loans in the pipeline....oh man some money coming my way right!!....f8kin wrong..the support system was bunch of clowns who didn't know anything mortgage....they can't get my loans to close, can't even answer my client simple question?....Finally I learn the mortage business and come to find out these clowns are trying to learn from me?...what the f**k they are suppose to be my upline, people who i should learn from not the other way around...
***
presently 7-07-07 the company has decide to switch gears back into the financial market (same sh!t, different day (WFA).. There was a big hype about getting license to sell life insurance policy....me i'm sitting this one out..." if you decide to do anything with you time and money remember this"...
**Your time is limited, don't spend it on someone else's dream***
###
Anyone who wants to know the truth about MLM..there a book out that was written by one of the Amway top guys(emerald/D-gold)....check it out and read it before you decide to join one of these company...save yourself the "Fake it til you make it".....before you spend you life saving.
##
In conculsion, I'll made good money in the company (mortgage) and will always be greatful that I was able to learn(on my own) about the industry and how it works...but when a company changes every six months to promote something new (mortgage, then real estate, then security, then life insurance) and the founder tells you that he going to sell the company and your upline (EFC) going to rec'd x-amount of millions from the proceed?.....Where does this leave you?...00.00 dollars to your bank account...and an email that says

"thanks for working hard, attending the "COC", visiting my mansion,HQ, buying tons of worthless books & audio from me, and recruiting alot of people to my company and giving up 1/2 your pay check to your upline and me, but I'm selling the company so go and get a job, may god bless your family because he has bless mine greatly with your effort"

no regrets...but I'm getting off the wagon here!!!
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#2 UPDATE Employee

WLG is not WMA

AUTHOR: Jason - (U.S.A.)

Although both were started by the same man these companies market different products. WLG isn't even in New York yet.

I'm sorry you lost money in a variable product, but I know many other people, friends of mine, who have also lost money in variable products(Janus). I think the problem here, as it is in most of the complaints I have read about this company, lie in the hands of the agent, not the company. There will always be bad agents in any company (I'm sure there are good Re/Max agents, and bad Re/Max agents).
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