• Report: #307020

Complaint Review: World Financial Group

  • Submitted: Thu, February 07, 2008
  • Updated: Sun, October 26, 2008

  • Reported By:Calabasas California
World Financial Group
Roadside Agoura Hills, California U.S.A.

World Financial Group What to look forward to or avoid you decide. Agoura Hills California

*UPDATE Employee: Come on Blake...who are you fooling?

*Consumer Comment: Exactly

*Consumer Comment: Exactly

*Consumer Comment: Exactly

*Consumer Comment: Exactly

*Consumer Suggestion: Thanks for these rebuttals...

*Consumer Comment: Can you say....

*UPDATE Employee: This opportunity is NOT a JOB, it is your own business within a company.

*UPDATE Employee: Then Why Write Something You Dont Understand

*Author of original report: Interesting...

*UPDATE Employee: wfg

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This is post isn't meant to bash WFG or sing its praises. I just wanted to inform anyone as to what to expect.

I was introduced to this company through a co-worker about a month ago. Everyhing sounded great from what she told me, though she was always somewhat vague about the company but she made the prospects very appealing. I had graduated from college 2 years ago and felt as though this job could be THE career I had been looking for. Before i knew what was going on I received a call from her boss wanting to schedule an intervew. Obviously I jumped at the opportunity after hearing such great things from my co-worker.

I get to the offices in time for my interview and come to learn its not really an itnerview per se but more s an orientation about the company. Everyone associated with the company is very friendly and it creates a very relaxing atmosphere. Continually throughout the night I speak to all of the partners and associates yet I was still not able to grasp onto what the company actually did. Everytime I asked they would say that they didn't want to ruin the presentation I was going to see.

Lo and behold the presentation comes around and it is quite informative, although also long. Afterwards I am pumped to work for them and am very excited to interview. I go back for my scheduled interview several days later really excited about the prospects of working there.

This is where many things begin to unravel for me. They explained to me that working for the company required employees to come in on tuesdays and a couple hours on saturday to train. Tuesdays ok, but Saturdays were strange to me. Still I rationalize that this company just wants to be on top of their game and present the most current products.

Then the form of pay comes into play, where their system is commission based. They tell me that if i have a job right now not to quit because i will not be making any money initially. Which is understandable as well because I knew nothing about the business nd would have to learn everything.

Then they explained that I would have to pay for a licensing course which was 75 dollars. Which they explained was because i was going to be considered as a licensed contractor so legally they couldn't pay for my class or they would get in trouble with the SEC which made sense to me. I was on a tight budget but at this point though I was standing on the edge, I was still on board.

Then it got onto the topic of clientale. They said I would never have a shortage of clients without the use of cold calling, etc. But then I found out later on my clietale is based on who I know because through my training process i would be required to make a list of people i would like to practice with old friends, etc. And it was those people who my business would be dependant on through referrals etc. I explained to them that no one I know of would be interested in these services but they still persisted stating that I would at least get some practice in so I agreed.

At this point while I still has reservations I agreed to sign on. Everything was standard procedure until it got to the point where the background check was in order. I didn't think it was anything odd until they said I would have to pay for my own background check and it was $100. That was when all of my hope for this new job left. I'm not saying its a scam, my co-worker still works there and is happier than ever. But for my situation where I was barely making ends meet and sometimes didn't even have enough money to eat I couldn't just give them $100. Many will say thats not that much money, and for those you are fortunate. I used to be like that spending hundreds like it was nothing, but it is a lot of money especially for the fact that in past jobs the company always paid for my background check. Their explanation once again was the fact that i would be an independant contracter which makes sense.

Still this was not something I could do at the time. It would have been $100 for the background check + $75 license = $175 that I would be paying for this job which I was not comfortable doing because that would mean I would be short money come time for rent. They expained to me that I would be reinbursed after I finished my training which was great but for the reasons above I couldn't.

I am not saying that this is not a good opportunity, maybe if i did have extra money I would have tried it out. The people in the company are extremely friendly, that is undeniable. Everyone seems to truly love eachother and their jobs and that is an extremely rare find. I just wanted anyone who was interested in this company to be completely informed of the process so they do not go in uninformed like I did and then get surprised by the costs. It is true that in order to make alot of money you have to spend money, I'm just not in the position to do that however. Its interesting though that all of the people I told this to had the same reaction, "Why are you paying for your job? Shouldn't they be paying you?" By all means go to their orientations and make the decision for yourself, but at least now you know what to expect.

Blake
Calabasas, California
U.S.A.

This report was posted on Ripoff Report on 02/07/2008 12:28 PM and is a permanent record located here: http://www.ripoffreport.com/r/World-Financial-Group/Agoura-Hills-California/World-Financial-Group-What-to-look-forward-to-or-avoid-you-decide-Agoura-Hills-California-307020. 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 UPDATE Employee

Come on Blake...who are you fooling?

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

So Blake...

1) You are introduced to WFG by your friend and all is well until you are asked to pay the $100 for your background check (which indeed is required.)

2) Due to your financial circumstances, you feel that the $100 is not within your means to pay and you decline to proceed with the opportunity. You receive unanimous feedback from others that this fee is unwarranted, unreasonable, and counter to common practice.

3) You share your experiences with this forum.

4) TWO WEEKS later, you counter a comment about your post with the fact that you just closed on a property and have a six-figure income.

I'm glad to see you went from "too broke to pay $100" to "six-figure earner" in less than a month. LOL.

Thanks for your "unbiased" overview into the hiring process at World Financial Group.

BTW, I've paid a $75 Live Scan fee for each of the following: insurance license, real estate license, securities license, notary commission, faculty employment at the college I teach. Perhaps I should post a Ripoff Report complaint against the Department of Justice for extorting this fee from me to engage in those respective businesses?
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#2 Consumer Comment

Exactly

AUTHOR: Atlanta Guy - (U.S.A.)

Every few years or so, someone comes out with this same scheme, trying to fool a new generation. They use the same phrases - " Where else can you own your own business for X amount of dollars...Practice on your family and friends.....You may not make any money at first....We have to do things this way because of certain laws.....ad nauseum, ad nauseum ". Yes, it's a pyramid scheme. Only those in at the first, with a huge relative base will realize any gain. In a few years it will all come tumbling down, just like the rest...and the purportrators will walk off with the money. Yes, I've seen them come and go....this one is no different. Of course those deeply involved with this scheme will be quick to defend it...as long and until they find themselves ripped off. And, yes, you will be.....just look at history.
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#3 Consumer Comment

Exactly

AUTHOR: Atlanta Guy - (U.S.A.)

Every few years or so, someone comes out with this same scheme, trying to fool a new generation. They use the same phrases - " Where else can you own your own business for X amount of dollars...Practice on your family and friends.....You may not make any money at first....We have to do things this way because of certain laws.....ad nauseum, ad nauseum ". Yes, it's a pyramid scheme. Only those in at the first, with a huge relative base will realize any gain. In a few years it will all come tumbling down, just like the rest...and the purportrators will walk off with the money. Yes, I've seen them come and go....this one is no different. Of course those deeply involved with this scheme will be quick to defend it...as long and until they find themselves ripped off. And, yes, you will be.....just look at history.
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#4 Consumer Comment

Exactly

AUTHOR: Atlanta Guy - (U.S.A.)

Every few years or so, someone comes out with this same scheme, trying to fool a new generation. They use the same phrases - " Where else can you own your own business for X amount of dollars...Practice on your family and friends.....You may not make any money at first....We have to do things this way because of certain laws.....ad nauseum, ad nauseum ". Yes, it's a pyramid scheme. Only those in at the first, with a huge relative base will realize any gain. In a few years it will all come tumbling down, just like the rest...and the purportrators will walk off with the money. Yes, I've seen them come and go....this one is no different. Of course those deeply involved with this scheme will be quick to defend it...as long and until they find themselves ripped off. And, yes, you will be.....just look at history.
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#5 Consumer Comment

Exactly

AUTHOR: Atlanta Guy - (U.S.A.)

Every few years or so, someone comes out with this same scheme, trying to fool a new generation. They use the same phrases - " Where else can you own your own business for X amount of dollars...Practice on your family and friends.....You may not make any money at first....We have to do things this way because of certain laws.....ad nauseum, ad nauseum ". Yes, it's a pyramid scheme. Only those in at the first, with a huge relative base will realize any gain. In a few years it will all come tumbling down, just like the rest...and the purportrators will walk off with the money. Yes, I've seen them come and go....this one is no different. Of course those deeply involved with this scheme will be quick to defend it...as long and until they find themselves ripped off. And, yes, you will be.....just look at history.
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#6 Consumer Suggestion

Thanks for these rebuttals...

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

I was approached by someone at my current job about this "opportunity". She told me it was a job and that they would come to my house to interview me. Um, I don't think so. She also told me that they were hiring for all kinds of positions and that since I had a degree, I could get a position in my field.

Thanks for clarifying that this is not a job. If you go to work for an investment firm, you don't have to pay to work there. I can tell from these posts that this person was feeding me lines that this company fed her. Your rebuttals had the opposite of the intended effect.
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#7 Consumer Comment

Can you say....

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

...PYRAMID???? This is just like all of those other pyramid deals. They talk you into paying money to get into the company and then harrass your family and friends.
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#8 UPDATE Employee

This opportunity is NOT a JOB, it is your own business within a company.

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

I have not met a business owner who hasnt had to spend some money to start up a business. I also takes training and hard work to get it off the ground. Only the entrepreneural minded need to apply. Most business owners will tell you what it took to be successful.
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#9 UPDATE Employee

Then Why Write Something You Dont Understand

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

Let me help you understand. WFG target market is married, kids, combined income of $45,000 and up, homeowner, and dissatisfied with their job or current situation. Once in a while we hire young studds or studdets looking for an opportunity but for the most part we are looking for people who need our help financially or if we cant help them that way then we offer the opportunity. In your case you were looking for a job. WFG is not offering a job its offering and opportunity to run your own company, a business. The $100.00 is required because we are not a franchise or a corporarate company, so WFG is not obligted to help you in that sense. Can you go anywhere in the world and start a business for a $100 bucks. That answer is definately no! Let me tell you what the $100 bucks get you. $75.00 go towards an FBI complete background check due to the fact that you are dealing with people's money. Now read carefully to this next part...the remainder $25 dollars gets you access to our multimillion dollars website, you get a code number to track your business and all others that you bring into the companies business, you get to track income, financial statements, you get study materials to pass your exams, software to run fiancial road maps, wedcast, podcast, a company whom at the home office will do your paperwork, your payroll, answer any questions relating to business, and so much more!!! Now here's the ticker, YOU HAVE THE OPPORTUNITY IN YOUR FIRST SIX MONTHS TO MAKE A SIX...OR SEVEN FIGURE INCOME, cause you paid a merely $100 bucks to get started. Come On! You Serious!

Plus you got it all wrong, we are not independent contractors, we are independent business owners. WFG is looking for those who are looking for us, those who get it are very successful at WFG, those who dont are simply not.
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#10 Author of original report

Interesting...

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

The first thing that I stated above was:

"This is post isn't meant to bash WFG or sing its praises. I just wanted to inform anyone as to what to expect."

To inform people of the process was the only reason I wrote this. When I was looking for information initially about this company I couldn't find anything besides the main site. I NEVER said this company was bad company to work for whatsoever(infact I bellieve I said the environment was extremely positive!) just that I was not comfortable with writing them a check for said amount so I find it interesting that you are so agressive in your rebuttal. And also in you're assumptions that I was essentially a failure just trying to point my finger at someone is interesting due to the fact that I am about to close a deal on my first home and am now bringing in a 6+ figure income. If that is what you call failure, then I guess I am guilty. Have a great day.
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#11 UPDATE Employee

wfg

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

Dude the VERY FACT that you can't afford to pay $175 for this is exactly why you need to join this company or any other compnay that will help you make money legally and ethically. WFG is a company that is of high caliber and respected in the industry. It's sad that people who cant "make it" or "do it" will sit back and file complaints like this. You should be looking for a job that will help you financially. It sickens me everytime when people have failed or havent even done anything will be the first to point fingers at other.
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