- Report: #190440
Report - Rebuttal - Arbitrate
Complaint Review: World Financial Group
World Financial GroupCenterville, Ohio U.S.A.
World Financial Group, deceptive insurance salesmen. Ripoff Centerville Ohio
*Author of original report: A better way
*General Comment: The Facts
*UPDATE Employee: My opinion
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This will be pushed as the best thing you could do for investment and insurance purposes.
They company they use for this has the highest commissions in the industry. They won't tell you that. They will also try to recruit you to join their business and sell you the dream to become your own business owner and lure you with the old six figure income line, trips to Hawaii, Jewelry etc: You will pay them $100.00 for the priviledge of joining this business.
YOU will have to pay for the "training"- an insurance license and securities liscense(about a thousand bucks). You will also be requiured to attend weekly meetings.(basically brainwashing meetings) You will be pressured to come up with a list of 25 of your friends and families names so that they can go and sell these expensive commission laden policies to them while they "train" you in the field. They of course make all the money from this while you start to loose friends and family. Oh and the best part is that you will be required to pay about $300.00 a month (again for the priviledge of doing business with them) to the office while doing all this. This is atypical (not typical) MLM. Same upline downline stuff with different names.
They will want you to transfer all of your savings and investments over to their commissioned companies. After you wake up and quit because you can't sleep well from selling family things they are paying WAY too much (and that you don't understand yourself)for they will threaten you for telling the truth.
The joke is on you. You gave them the names of your friends that they get to sell to when your gone. They continue to get 12b1 fees from all the accounts you rolled over. You get to agonize on how you got suckered into this and deal with the friends whose names you gave.
If you want to be a financial planner go to school and do it legitimately. Work for a reputable company. Go to a fee based planner if you want a plan. They will not sell you commissioned products with big loads on then. This company is a morph og WMA which has a real bad history of scamming.
This report was posted on Ripoff Report on 05/08/2006 09:31 AM and is a permanent record located here: http://www.ripoffreport.com/r/World-Financial-Group/Centerville-Ohio/World-Financial-Group-deceptive-insurance-salesmen-Ripoff-Centerville-Ohio-190440. 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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