• Report: #258560

Complaint Review: World Financial Group

  • Submitted: Tue, July 03, 2007
  • Updated: Wed, July 16, 2008

  • Reported By:Los Angeles California
World Financial Group
www.wfg.com , California U.S.A.

World Financial Group Financial Services Wannabe Company ripoff Los Angeles California

*Consumer Suggestion: RE: LEARN TO SPELL - "Only Winners Win and loosers talk smack"

*Consumer Suggestion: "10 Questions to Ask When Choosing a Financial Planner"

*UPDATE Employee: Be accurate in reporting

*UPDATE Employee: I see both sides.

*Author of original report: update

*UPDATE Employee: Only Winners Win and loosers talk smack

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To anyone who is looking to join or has been approached by one of these "Financial Professionals"--PLEASE BE ADVISED.

This company (World Financial Group) does not train its people adequately enough to give financial advise to anyone. Believe me, I was part of it. The advise that you can expect to receive from an WFG agent is non-comprehensive, to say the least. They tend to push certain products that yield high commissions, onto their clients. Investment products that are quite complicated for their target group, middle and lower income families. They focus on QUANTITY rather than Quality of service.

If you are looking to join please be aware. They will pressure you to take them to your close friends and family and rely on their trust on you to make their comissions and what is worse, they will probably wind up with a product they don't need or doesn't perform well for them.

MCC
Los Angeles, California
U.S.A.

This report was posted on Ripoff Report on 07/03/2007 06:46 PM and is a permanent record located here: http://www.ripoffreport.com/r/World-Financial-Group/California/World-Financial-Group-Financial-Services-Wannabe-Company-ripoff-Los-Angeles-California-258560. 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 6Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Suggestion

RE: LEARN TO SPELL - "Only Winners Win and loosers talk smack"

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

So I am to trust you when you can't even spell check your rebuttal? That reflects badly on you as a financial planner at WFG when you spell an obviously easy word "losers" as "loosers". I am sure this will deter people away from this questionable organization.
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#2 Consumer Suggestion

"10 Questions to Ask When Choosing a Financial Planner"

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

This is not a spam message: Just some helpful hints on choosing your Financial Planner/Broker,etc.

http://www.pueblo.gsa.gov/cic_text/money/financial-planner/10questions.html#10qs

Hope this helps.
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#3 UPDATE Employee

Be accurate in reporting

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

Your comment simply stated a generic complaint. Yes, I will agree that a lot of agents, with not just World Financial Group but any broker/dealer, don't know how the products work well enough. There are plenty of trainings, but in the end, it is up to the individual agents to attend these trainings and learn how the products work.

As far as reaching out to lower and middle income families, that is correct. If you look at statistics, that is 98% of the population of the United States...shouldn't someone be trying to reach out to them? Do you see Merrill Lynch(who by the way is now partially owned by our parent company!) reaching out to help people who are not already wealthy? No, so anyone who has a problem with the fact that a company actually does reach out to the people who need financial help is the one who I would actually be concerned about.
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#4 UPDATE Employee

I see both sides.

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

I've been with the company back when it was World Marketing Alliance, and it was NOT what I thought it was going to be. I had the same complaints as above.

I have since joined WFG back last August. I have learned a ton from my mentors and my own due diligence, but I think it's all up to who you have as your upline. I do believe it's up to individuals you work with, just as in any company. I don't care MLM, Network Marketing, or just regular office jobs.

I do NOT agree with everything that people do representing the company, or with all the company's policies or practices. To tell you the truth, I don't remember a time when I agreed 100% with ANYWHERE I worked previously. When people do dumb stuff, get greedy or do something illegal, it makes the rest of us look like a pack of jackasses, too!

I do, however see where everyone on here is coming from, because I had the same type of beef with the old organization back in 1999 when I first joined. I also know that WFG is a much better company since Aegon bought them and restructured it. Aegon doesn't want a bad mark against them, hence the reason for the name change and some medium re-calibrating of WFG.

Either way, good luck to all even if you think this company is a scam. I totally understand why you think it. I gave the company a second chance, and I contribute my good fortune working with them to my new team and mentors I work with now. Of course, there are bad apples out there making anything look bad, so I choose to stay away from those people. If I ended up with people that were anything like the associates I worked with back in 1999, I would drop this thing like a bad habit.
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#5 Author of original report

update

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

To anyone who is looking to join or has been approached by one of these 'Financial Professionals'--PLEASE BE ADVISED.

This company (World Financial Group) does not train its people adequately enough to give financial advise to anyone. Believe me, I was part of it. The advise that you can expect to receive from an WFG agent is non-comprehensive, to say the least. They tend to push certain products that yield high commissions, onto their clients. Investment products that are quite complicated for their target group, middle and lower income families. They focus on QUANTITY rather than Quality of service.

If you are looking to join please be aware. They will pressure you to take them to your close friends and family and rely on their trust on you to make their comissions, and what is worse, they will probably wind up with a product they don't need or doesn't perform well for them.

Moreover, I now work for a private financial firm were we provide comprehensive, quality financial advise and products to our clients (free of charge). Therefore, I am able to make a distiction between quality of servive vs. pushing a product onto a client.

World Finacial Group prides itself on being able to market products from well renowned companies. In theory, that is true. They are able to market products from various comapnies, but do they? World Financial Group remains loyal to its main company provider, Western Reserve Life (check out their ratings) a comapny located in Duluth, Georgia. What's more, World FinanciaL Group agents are seldomly trained on any products or strategies. Suitability is never an issue with them.

All and all, if they really wanted to "help" families, like they claim to be doing, they should refer them to a competent financial advisor.

And by the way, "HELP" should be free otherwise it's not really "helping", is it?
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#6 UPDATE Employee

Only Winners Win and loosers talk smack

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

World Financial Group (WFG) is the best company helping families who would never have got financial help. from College Education Plans, Saving Programs, Annuities, Home Loans, Real Estate, Estate Planning, Insurance. What in those services make you think scam? those services are real and very much needed. WFG is a Highly Professional company and works with all the leading providers such as ING, Pacific Life, Amerikan Skandia, Allianz, TransAmerica, Bank of America, Wells Fargo, World Savings, Countrywide, and many more. Wfg represents 100's of the industry leading companies. Only quiters have something bad to say because they are sour loosers who will never make it in anything..
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