• Report: #24941

Complaint Review: World Financial Group

  • Submitted: Fri, July 19, 2002
  • Updated: Wed, October 24, 2012

  • Reported By:Irving tx
World Financial Group
Garland, Texas United States of America

World Financial Group ripoff fraud misrepresents its products illegal pyramid schemes deceptive company Dallas Texas *EDitor's Comment

*Consumer Comment: WFG

*Consumer Suggestion: WFG is tops!

*General Comment: hold your horses

*UPDATE Employee: Still not sure 16 years later

*Consumer Comment: Watch out for cash value insurance and other financial products!!

*UPDATE Employee: The Difference Between MLMs and Pyramid Schemes.. also.. Annuities!

*UPDATE EX-employee responds: Personal Investigation into WFG

*UPDATE EX-employee responds: Finally...A Level Head

*UPDATE EX-employee responds: A Thought for Everyone Reading

*UPDATE EX-employee responds: World Financial Group Reality Check

*UPDATE EX-employee responds: Rebuttal to Claude from Torrance ...As far as pyramid schemes go, if it walks like a duck and talks like a duck....

*UPDATE Employee: Do you get it yet? common fears are the following

*Consumer Comment: THE ANSWER

*UPDATE Employee: Another inside view but from a Canadian standpoint

*UPDATE Employee: Another inside view but from a Canadian standpoint

*UPDATE Employee: Another inside view but from a Canadian standpoint

*UPDATE Employee: Another inside view but from a Canadian standpoint

*Consumer Comment: To Marfel and others unsured...

*UPDATE Employee: DONE THE RESEARCH - STILL CONFUSED

*UPDATE Employee: DONE THE RESEARCH - STILL CONFUSED

*UPDATE Employee: DONE THE RESEARCH - STILL CONFUSED

*UPDATE Employee: DONE THE RESEARCH - STILL CONFUSED

*Consumer Comment: Call it whatever...who cares..

*Consumer Comment: Call it whatever...who cares..

*Consumer Comment: Call it whatever...who cares..

*Consumer Comment: MLM, one man gang, who cares.....

*UPDATE Employee: WFG being bad. It can be. But it can also be good if you are looking after your clients first

*UPDATE Employee: WFG being bad. It can be. But it can also be good if you are looking after your clients first

*UPDATE Employee: WFG being bad. It can be. But it can also be good if you are looking after your clients first

*UPDATE Employee: WFG being bad. It can be. But it can also be good if you are looking after your clients first

*UPDATE EX-employee responds: HEY Jonathan. WAKE UP ..You think that WFG is so unique, but I hate to break it to you, it's not.

*UPDATE EX-employee responds: Johnathan - you make my point ..superior professionalism and intelect of all who are employed by this company.

*UPDATE Employee: Enough is Enough

*UPDATE EX-employee responds: The above respondent (Aaron) is absolutely correct, ..urge to get out of there and run

*UPDATE EX-employee responds: READ THIS ..fact is, too many people have complained about WFG for so long

*Consumer Comment: WFG recruitment process of recent college grads

*Consumer Suggestion: Do Your Homework...before you invest time & money

*UPDATE Employee: WFG has Two Divisions

*UPDATE EX-employee responds: Good company but has unattractive leadership

*Consumer Comment: I went to a WMA/WFG recruiting mtg. in San Diego

*UPDATE Employee: This makes no sense!

*UPDATE Employee: NO SCAM or Rip-off at WFG

*UPDATE Employee: NO SCAM or Rip-off at WFG

*UPDATE Employee: DO YOUR HOMEWORK

*UPDATE Employee: Still Looking For a Credible Source

*UPDATE Employee: Need more specific information

*UPDATE Employee: Need more specific information

*UPDATE Employee: Need more specific information

*UPDATE Employee: Need more specific information

What's this?
What's this?
What's this?
Is this
Ripoff Report
About you?
Ripoff Report
A business' first
line of defense
on the Internet.
If your business is
willing to make a
commitment to
customer satisfaction
Click here now..

Does your business have a bad reputation?
Fix it the right way.
Corporate Advocacy Program™

SEO Reputation Management at its best!

I was recently approached by an MD which right away wanted to recruit me as well my roomate. We were scheduled out to there meetings and we had a one on one interview where we were asked to be part of the team.

The whole scheme is to find as many recruits as possible and then form a so called team. They speak of helping out families, not true. I luckily did some investigating for myself before i went in to deep. To my surprise i found what i was looking for. Too good to be true. Please be aware.

World Financial Group is the name. Once again they prey upon people's gullibility.

Gilbert Irving, Texas


This report was posted on Ripoff Report on 07/19/2002 02:00 PM and is a permanent record located here: http://www.ripoffreport.com/r/World-Financial-Group/Garland-Texas/World-Financial-Group-ripoff-fraud-misrepresents-its-products-illegal-pyramid-schemes-dece-24941. 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.

Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report.

Click Here to read other Ripoff Reports on World Financial Group

Search for additional reports

If you would like to see more Rip-off Reports on this company/individual, search here:

Search Tips
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
REBUTTALS & REPLIES:
0Author 49Consumer 0Employee/Owner
Updates & Rebuttals

#1 Consumer Comment

WFG

AUTHOR: steve - ()

WFG has over 170 providers such as Pacific Life, Met Life, ING to name a few. If this company was a rip off would these companies be a part of WFG?

http://managementtoday-magazine.com/index.php/sections/retail-and-distribution/269-world-financial-group

Respond to this report!
What's this?

#2 Consumer Suggestion

WFG is tops!

AUTHOR: honestinjun - (United States of America)

This complaint by this person is so unprofessional. WFG is a well known marketing company and their goal is to assist families with their finances. ON the backside they develop their agents as well and it is not a traditional job.The people that do this kind of work get paid very well, independent and have to be licensed. They spend their own money to better themselves and their families.

Nothing wrong with any of that. Its a great business model......
Respond to this report!
What's this?

#3 General Comment

hold your horses

AUTHOR: honestinjun - (United States of America)

Well I'm amazed at someone whom has little knowledge knows so much about this company.Their management goals are to recruit the right person  notknowing who you are as YOU may not qualify.  Allthese hardworking people are license by their respective state requiring way more qualification than say mcdonalds to inlude finger printsby the FBI.

Some are security licensed which is not the easiest exam to take. They have invested their own dollars to improve their family lives and those of others. Just because it wasnt for you doesn't mean its broken.  It takes an educated mind and an open parachute (your brain) to see the much bigger picture.  Some are looking for such an opportunity so who are you to make such insults.  There are thousands of agents laughing at your comments which are misplaced.

All insurance the benefits they offer have to be presented by an agent....I admire the efforts...they work hard and get paid for their efforts well becasue they are. I just had to comment......its a business.

Dirk

Iamsmarterthanu

Respond to this report!
What's this?

#4 UPDATE Employee

Still not sure 16 years later

AUTHOR: Wa Tim - (U.S.A.)

I saw this company in San Diego CA in 1992 it was WMA back then. I Payed my 100 or whatever it was and started training. I active duty military and had seen thing everyone should see as well as things no one should have to. I was in need of something different. I went to training in LA for a few weeks but like most, I did not have the discipline to keep up. I however had already become a client and believed in the products. No other company would or had spoken to my family about financial matters other than to scam me out of what little i had. WMA/WFG was different. They educated me they tought me the concepts and shared ideas with me. I was and still am gratefull. I did not get licensed nor did a make any money selling products or services with this company back then. I stayed active military and went on letting life happen to me.

Fast foreward: 1998 i could not do the active military any longer 6-8mo a year away from home was taking its tole. I got out and joined the Navy Reserve. I started working for a mortgage company in WA state and quikly found it to be alot more dificult being a branch manager for a true business than i ad ever though. I saw a new business open up in the town where i lived and niticed it was WMA. I was amaized i thought they were a Southern CA company. I was still a product holder (VUL and an IRA) and figured i would stop in and say hi. I quikly realized this had grown and was a large corporation at this point and asked if they new my Agent from CA. They had heard of him and were amaized that i had left the company back then. My old friend who i had long lost contact with had become very wealthy. He was still in the business and doing great. When we started together we were broke together. Now i was still broke and he was well.

They helped me contact him and we set my business plans in motion. I was determined to make it this time.

It is now 2008. Life has changed alot for me. No i am not a millionare i still have yet to make 100k in one year. I have however paid all my bills on time. I have saved for my future. I own a couple of rentals and my own home. I have been at every sporting event and most practices, I voulonteer at the schools. My time is mine to decide what i do with. And when disater struck our family in 2006 (my 17 yr old son died in an auto accident) becouse of the business model i recieved from WFG i could still pay my bills. I was able to take almost a year to grieve with my family. The system the people the relationships and most of all the family i have here far outway the compensation. I am gratefull that it is difficult and that you have to work hard here. It makes it real. I would not trade it for the world.

By the way my priorities have evolved and my younges boy is about grown now. This year i will make 100k if not more. It is where i am spending my time now. Once again it is MY TIME. So the business is groing and my clients as well as my business are doing great.

If it is a scam man is it a good one. Probobly the best scam ever. I dont know you nor you me. I just hope and pray for your sake you at least try WFG on for size.
Respond to this report!
What's this?

#5 Consumer Comment

Watch out for cash value insurance and other financial products!!

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

Any company that sells Variable Universal Life, Universal Life or whole life insurance (these cash value insurance types are all the same) is hurting their clients. They sell it as an investment (some times as insurance) and when you need your money you have to borrow it at a very high interest rate or there simply is no money to take out. The reason there's no money is that the company gives you the guaranteed portion (which is zero for the first few years and then the smallest fraction of what you have contributed to this policy) not the projected and then you have to pay absurd surrender charges. And if a family had been paying into this long, their children's education fund or there retirement fund would be nothing or almost nothing. Does this sound good for families?

Remember...insurance is to protect the income of the husband and/or wife if one or both pass away. It is income protection always, not an investment never.

Again... it is never an investment. The higher premeiums you pay for these cash value policies are overpayments (not dividends or accummulating cash value)that will eventually when the cost of the policy eats away the overpayments will self terminate unless you pay an exorbitant amount of money to keep it going. Read this in your insurance policies. It is there or ask someone with Primerica or even the agent that sold this policy to go over it with you. The agent that sold you this policy probably has no idea of what they are selling you because they have not studied their own policies or they like making tons more money from these than selling what is right- term insurance. I have read every insurance company's policy out there and they all basically say what I'm telling you now. Beware of these policies, they will ruin your life. Read your policy today. Understand it.

I had one of these policies sold to me as a fund for college. The guy guaranteed me that my account would grow between 8 to 10% per year. When I tried to get $1,000 out to pay for my classes, the company told me what money, this is life insurance, not a savings account or an investment. So, after I fought with the company over 4 months, they refunded all my premiums and told me it was a big misunderstanding. The misunderstanding was the way these cash value policies are being sold to people as college funds, retirement accounts and simply an investment for whatever. They gave me my money back because I was writing to every politician, better business bureau, news station, newspapers and they decided this guy is serious and will show to the world the truth.

The truth is Suze Orman even talks about how bad these cash value products are and she is not a representative of term insurance or Primerica or any company that sells term. The truth is that many of my clients that I educate on buying term and putting them a sound investment (not part of the insurance) always get a call from the agent of the company we replaced after and they say we didn't know you wanted term insurance and now we can do it for you. Then the client will ask the agent why they sold them this higher priced product when they couldn't afford it when term would have been right for this family. The agent has no explanation and will plead to keep their business. But, the client will see that making a few more bucks on this cash value policy was more important to this agent than their family's future well being and what was right for them. So, the real reason this company is pushing their people to sell this higher priced cash value insurance product because they make a lot of money... tons more money. They don't care that they are hurting families, people they care about. I believe they are doing this because they really don't know what they are selling and they like the idea of making more money. And when these agents do find out the truth they still sell it or defend their actions on why it's okay to hurt families by selling this crap.

Also, Consumer Reports says that term insurance is right for 100% of families. Many other publications (Money, Wall Street Journal, etc.)tell that term is right for all families and that it is not an investment or can not be used as a tax advantage (The IRS on it's tax forms says it is an overpayment, not dividends or a growth of your premeiums). Actually, if there was cash value in your policy and you borrowed this money and didn't pay it back by the end of the year you would then be taxed on this money that is supposed to be your money. Good deal, huh?

Also, why do you have to borrow your own money in your investment? The reason is you are not the owner of this money you put in, the company owns it. Read in your policies, it spells it out that your policy and the money is owned by the company, not you. I suggest to everyone with one of these policies to read it and you will see you have been taken advantage of. Look under subaccounts. What is a subaccount? Something that is owned by the company and not you, the policy holder. This is a big part of Universal Life, subaccounts. What a ripoff.

So, talk bad about Primerica, but we do what is right for families 100% of the time. Keep selling your cash value insurance policies and we will continue to educate them on what you really did for them. You sold them an overpriced term policy that will terminate itself after so many years if a substanially higher premium is not paid. That is why we sell different length level term policies from 5 years to 35 years and the client always knows when it will end. This way they will have time to build their investments so they can drop life insurance totally. And, when the policy does reach its end, the client has the choice to renew it without any medical tests (unless they increase the face amount) or regardless of any medical problems at a much lower rate than it will cost if they owned whole life, universal life or variable universal life and it threatened to terminate itself without unreasonably high premiums.

The reason for this is that when there is no more cash value in the policy (cash value is gone because insurance cost has used it all up-all the overpayments), the premiums in the cash value policies are so high that most people will have to let it go and have to pay the surrender charges. So if the client that owns a cash value policy has to pay more so his insurance will not terminate, he/she will always pay a lot less with term when he/she renews it.

So, my advice to everyone is to read your policies and become educated in all the financial areas you do business in...insurances, mortgages, investments, etc. This way when someone comes to you with a financial product you will be ready and you will not be misled or taken advantage of by these companies that are supposed to help us, or they say.

I learned about the ripoff of life insurance companies 3 years before I even joined Primerica. So, don't tell me I don't understand how they really work or that Primerica brainwashed me. I did my own research and figured it out on my own. I even started telling people about it and many already knew that cash value policies were bad for people. Then, I was introduced to Primerica and then I knew my voice could be heard through building many Primerica offices to educate families on the truth. We don't make money on recruiting people in Primerica. We make money on what we sell and then helping new hires get the proper training, the proper licenses and then making money for themselves.

I recently graduated with a finance degree and I put my resume on Monster.com just to see who would contact me. Every financial service company (insurance, mortgage, investment) has contacted me to work with them saying my resume is great because of my experience working with Primerica. They also said they would train me, but obviously being with Primerica for over five years I probably wouldn't need as much training. See, if I had just graduated without any experience, I'm sure they would have contacted me anyway and offered to train me just like we do with Primerica. So, don't think that Primerica does not train our agents like any other company, we do. We have extensive training and not just yelling and motivational ra ra ra. You are right we do clap and celebrate people in our business that perform to their potential and succeed here. Not many companies reward their people or employees like we do for doing a great job. Usually you get noticed for what you did wrong and we don't do that here.

For you WGA or WMA people, don't act like you are better because your system came from your leader that brought it to Primerica first.
Respond to this report!
What's this?

#6 UPDATE Employee

The Difference Between MLMs and Pyramid Schemes.. also.. Annuities!

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

First of all I want to introduce myself. My name is Alex and I have been a WFG associate for the past 2 months. What shocks me most about this thread is the amount of improperly-used terminology that by all means can be taken legal action on.

To begin, since this is a big area of confusion, WFG follows a Multi Level Marketing company structure. This is by no means to be confused with a pyramid scheme (a.k.a. a "Ponzi" scheme). What makes something a "pyramid" scheme is the downline paying money to the upline in hopes of getting money from their eventual downline for doing and producing virtually nothing. The pyramid can last for a long time if a lot of people buy into it and the upline is not too greedy to make money in the short run. In the long run, ALL pyramid schemes are scams that result in the upper tiers of the upline making lots of money and the downline losing all of their "investment" (as it is usually, illegaly, termed).

What sets WFG apart from a pyramid is the fact that you are not paying money to an upline, and you sell financial products which really do help people (from which you get commissions). The financial planning is done complimetary (by good agents) to determine the exact products that will benefit an inividual or family the most. Think of WFG as being LIKE a franchise (though legally it is not). It is not the company's responsibily to make you learn about the products that it offers. In WFG you are not just an employee; you are a business owner. It is your responsibility to ask your upline or submit queries to the individual companies who's products you are selling. This is where I must explain (for those that believe that all are created equal) that while there are very capable people working for WFG, there are others that are hacks and give the rest a bad name. This is the same in ALL companies world-wide. It is a statistical fact that over 50% percent of the American population can be considered idiotic by IQ levels alone. This is not a plug at anyone (seeing as how I am border-lining myself... I failled my insurance licences test twice...), but rather a garantee that there are stupid people out there that will be rude, misrepresentational, and flat-out monkey-like in their social skills no matter where you go.

O.K., enough of the generic stuff. Now I will tell you about my specific experience/knowledge about WFG (WARNING: I am positive about things that happen to me in life, because my family grew-up poor and now we live better than ever, in more than just financial terms... and I believe in God). I was recruited at a "Millioniare Mind Seminar" by a young guy (who is ironically older than me) who presented this company as a "business opportunity" and said nothing else. I was curious, and believed that his company deserved a look and so I went to a presentation. When I got there, the office was very professional and everybody (guests included) were all VERY well dressed. The presentation was very basic and left much to be answered, yet it was informational on just what kind of company I was dealling with. I will not spoil the surprise by just saying what kind of company it was. I'll let you make up your mind as soon as I finish telling you about my experience. I scheduled a "second interview" with-in 48 hrs (as per the company's policy). When I got there I was greeted by a marketing director and the gentleman who I met originally(Vietnamese guy, who speaks perfect english). I was asked questions about my goals and ambitions, of which I had many (and sizeable). The entire time I was thing that this sounded a bit like a scam, and was gravely disappointed by the commission-only pay system. I was asked to pay for a "fast-start" information packet ($5), a background check ($100), a study book/CD for my medatory (well if I wanted to get paid eventually, that is) insurance license test ($15), and to schedule my actuall license test ($65)... I scheduled it too soon... but that was my fault. My total was $185. That was it. Not $400, not $1400... I was still sceptical, and I asked very bold and direct questions about what truelly makes WFG different from a Ponzi. I was told about the companies WFG deals with and the products/services it provides. I left to go to the bank and was considering not comming back, reluctantly I got the money and came back to become an associate. Since then I have attended 75% of the company meetings (Wednesday nights and Saturday mornings) and have learn a lot about the specific products directly from Pacific Life, ING, and WFG associates.

I personally like VULs and EIULs, yet I have and understand the importance of term life insurance as an EMERGENCY-protection-only insurance for those that live paycheck to paycheck (like I did). My mom is by far my largest critic and she has been taken advantage of by other Financial companies (like A.G. Edwards). I, personally, do not yet have my accounting, business, and finance degrees I am going for, but I have taken my fair share of accounting and law classes to be able to understand statements and basic principles. What I saw was that my mom had an extra IRA account created by A.G. Edwards that she did not need; however, once an IRA, must stay an IRA (unless you want to pay huge penalties... well since my mom is not yet 59 1/2, and has not held the policy long enough). A.G. Edwards gave her the higher of a garuanteed 3% return or the market rate with an anual ratchet (rate lock-in). Not horribly bad... some might consder it good. I (with the direct help of my Marketing Director or MD), was able to roll-over her IRA into an ING IRA with the ING GoldenSelect Annuity with the premium plus feature. What all the above mumbo-jumbo means is that she got a GARUANTEED 7% return or the market rate with a QUARTERLY (versus annually) ratchet, in addition to 5% return UP-FRONT! My mom did have to pay a 4% penalty, but did NOT have to pay the additional 10% penalty because it was a direct rollover, not a withdrawl. My mom is GARUANTEED to have $300K-$1 million after 15 years (when she turns 65) from her investment of $100K. Please, somebody tell me that was bad. Just try. Tomorrow a second meeting with an old family friend that makes just around $200K a year in car sales (Mary Kay Cadilac contract) who has lost hundreds of thousands in stocks, which is all he still has. I know we will have business. On top of all that, my mom is now my strongest advocate among all her friends (that would not normally take me seriously). I don't have to "sell" our products, because (to me) they sell themselves. I personally prefer real-estate for my personal investment and am currently working a deal with my MD's multi-million-dollar policy holders (with my MD meeting with them on my behalf).

Now is were I want to clarify the point/payment system. The points we get are equal to the exact amount of profit the company is making on selling a product in the long run. 5K points equalls $5K. As an associate I would get paid 25% or $1250 on that one deal. I don't know of many products (except for term insurance) that would typically pay less than a $500 personal commision to me directly. The personall points are added-up and also used to gain promotion with-in the company. I need two promotions to become an MD and start getting stock options, vacations, rings, and the likes. As for the convention, WFG will pay for it if you perform well enough with-in a couple of months before the convetion. With my mom's IRA roll-over half my trip to Florida is already paid for, and tomorrow's meeting will probably pay for the rest, and get me promoted 2 levels to a Senior Associate and a 45% commission base (which is usually the absolute MAX for an excutive sales position at a company like Merrill Lynch... 5+ years of exceptional experience and sales history)... so, I really don't understand when people talk about getting paid more at other companies... I am getting the boss of the mortgage company I used to work for in high school to join our company, because she has already gone to Merrill Lynch and the likes to see what they would give her. She is a big wig in Dallas, and was one of the first female franchizees in North America. She earned her first million at the age of 17, and has not only taught me everything I know but also forgotten more than I will ever learn. She met with my MD only for the sake of giving me a chance and has previously dealt with incompetant WFG representatives in the past (who used extreme pressure techniques, and were extremelly rude... much like in the previous replies). I am good friends with this woman's son (form high school) and he was my main opposition to joining WFG... now he is considering joing himself.

In closing: WFG is not a scam. WFG involves building a team, who's success you will be responsible for. WFG is all about marketing and sales. WFG is not for everybody. WFG requires a time commitment and effort. Going to the sometimes boring/redundant meetings to get brain-washed is a good thing, because it gets you to think differently (from the usual "I can't do this"/"I can't make more money" routine). If you do not have a good personallity, or you are not willing to change by stepping out of you comfort-zone please do not join the company, because you will not succeed. Your market area does matter. Our top people (SEVCs) make anywhere from $250K to $7 million a year. At WFG you make the choice of which one you want to be.
Respond to this report!
What's this?

#7 UPDATE EX-employee responds

Personal Investigation into WFG

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

Ok, I signed on to be an associate of WFG about 3 weeks ago. I was too busy at my current job to really investigate the company, and I trusted my friend who "recruited" me. I paid my $100 for the "processing fee" and $35 for the "Fast Start package." I'm not hard up for money. I even paid $75 for the class to get licensed. So I didn't really hesitate to pay these. 1 week later when I told one of my close friends what I was up to, he proceeded to educate me on what was out there, and I really started opening my eyes critically to the WFG organization. So began my analysis of WFG.

So here's the good and the bad (all mixed in which is why it's difficult to judge this company. Ergo the heated rebuttals back and forth):

1.) First off, WFG isn't illegal and it isn't a scam. So all those who say it is, haven't done their proverbial "homework." However, it isn't for everyone and recruiters probably are overzealous in selling what WFG can do for you. You will only make it "big" in WFG if you have a magnetic, sales person like character--the type of character that will let you recruit hundreds under you.

2.) As someone with a business background, I was actually pretty amazed at how well the WFG playbook has been developed to manage people's inclinations. From a purely academic standpoint, I was impressed with how they've systematically mastered how to hook people in. It's literally in their "Fast start package." In the little time I spent with the company, I actually learned a lot about managing people depending on their personality (though perhaps this was specific to my team, which happened include highly educated professionals--think Ivy league and top business schools).

3.) My very first concern was the heavy emphasis in recruiting. I found it disturbing that I was just walking into the system, without knowing a god d**n thing about the products they offer. Someone explained that that's because they actually aren't allowed to teach you until you're licensed. I'm kinda willing to believe that...but if that's the case, I really want to know how they sell these products to unlicensed people. selling, teaching...either way you have to explain what you have to offer and why it's so compelling! So, why don't they pseudo sell us these products...that would actually be quite educational. Not knowing was just really frustrating for me, but WFG just wants you do as they say. to be coachable. being coachable is really the only way you can succeed in WFG, and I'm inclined to believe that.

4.) The key to the WFG system is recruiting, not the products. It's a win win for them to recruit. You either become a superstar team builder or sales person, which makes you and the upline money. OR in your initial foray into the cycle, you introduce them to people who trust you, and they can sell to them. You make money as the referrer, which can be decent depending on your network. The problem is, the easy money comes at the beginning--with your natural market of family and close friends. then you'll have to get references from them and references from them...as the line goes futher, it becomes harder and harder to make the sale. UNLESS you team build. You perpetually refresh your access to that natural market by using recruits to access it. If you train them well, they will do the same. It is in your best interest to do so, and those WFG people that don't spend the time to train their recruits to...recruit, don't really understand how to make money in WFG.

5.) The beauty of the system is residual income. From the business person's standpoint, it is always better to earn 1% of the earnings of other people, for whom you've already put in the time and money to train. For the time and money you invested, you gain residual income. Income you earn even if you don't do a d**n thing. But if it works, why not do it again? and again, and again? Residual income is how the wealthy become and stay wealthy. Those who would rather earn more money from their own work is frankly doomed to not be as successful as those who see the power of residual income. Can you be succefful with WFG, hell yes. Problem is, not everyone has the stomach to stick with it to build the sort of s****. />
6.) Do they make money from the processing fee or materials? I doubt it. Even if they did, it won't be too much, and I suspect the NASD has a few regulations or two about making money that way, and they would be shut down. That is not how they make money. They really do make money from the products. However, the deeper you get into it, the less likely you'll leave. WFG-ers might not get paid for these materials, BUT they are recognized on a points based system for getting people signed up for licensing, or online training, or selling the materials. It's not cash, but there is incentive for them to push these things. The incentive system (points, money, status, social pressure) for WFG is actually quite interesting from a business standpoint, and every good company does these things so don't think WFG is "evil" for doing it too. Theoretically, to make the system work you do want as many licensed brokers as possible to make that 1% that goes to the very top worth it. So, I don't think there's anything wrong with that. They are quite aware though that telling people about the costs of getting trained and licensed will scare them off. So, they don't tell people outright. This is good people management, but it may also be criticized as misleading and manipulative...Then again, look at how every company markets to us. Is it really more unethical than those surprise fees at the bank?

7.) Not all WFGers are bad. In fact, I met many who are genuinely good people. Some really do want to help people, and that's commendable. If you do join WFG though, watch out for the bad apples. Many of them believe in the WFG mission. Many are working so hard to provide for their families and one should not blanketly slander all WFG reps.

8.) Thoughts on the industry. Insurance is a commodity product. Worse, it's a product that people really don't want to think about. How would you like to buy a product in preparation for you impending death? An agent's job is to make you think about such things. That said, people with families and large debts really should have insurance. As an agent though, comissions really aren't that great unless you land big group accounts or target wealthier individuals. You can make a little extra money from selling insurance on the side through the WFG system, but it's rare to make a lot of money unless you dive full time into the system and really build your business.

9.) Insurance as investment vehicles. This was actually the thing I wanted to learn most about. My final conclusion is that it's better to have a ROTH IRA and a term life insurance policy and maybe a declining term policy (for your debts) than to use a VUL. Why? term insurance is cheap and you only need insurance for the time you have responsibilities like th mortgage and the kids. You may want to have some "industrial" insurance (not in fashion these days) just to cover the burial expenses. (why not push term insurance? Cause the commissions aren't worth it.) Meanwhile Roth IRA is similar to premiums paid into a VUL. (To call "VUL"s a "NEVER TAX" option in the WFG intro presentation is TOTALLY misleading, and probably something they can be fined or reprimanded for.)

Premiums/contributions for both vehicles are after tax contributions which you can withraw tax free (assuming you haven't "MEC-ed" your policy) just like you can do with a Roth IRA up until you start withdrawing more than your basis. Once you start withdrawing your gains before 59.5 years of age, you get hit with a 10% penatly for both and must pay reg income tax for both. However, with a ROTH you can wait to take out the gains after the 59.5 and not pay tax period, not so with the VUL (gains for which are always taxable as regular income). There is a way around this taxation, which the VUL has over the ROTH, you can borrow from your VUL at a very low rate TAX FREE and you don't really have to pay back the principal which is your money anyways. You can even use it as collateral for a loan. Problem is, this only matters if you need funds in excess of your basis (contributions/premiums paid). That's one loophole uncle sam hasn't closed yet. In addition, the choices available to you in a ROTH is so much more diverse...a far more powerful tool for a self-respecting Financial Planner. Also, I haven't seen the costs of the VUL investment vehicles, but I suspect they're costly relative to what you can get through a ROTH. Does the option to borrow from yourself in a VUL trump the flexibility and lower cost of a ROTH and term insurance combination in the long run? It probably depends on the particular circumstance of each person at the time, and I don't care to make a definate judgement on this point. One more bit: Insurance is a good tool to have for estate planning!

In the end I decided to end my career with WFG, not because I thought I couldn't make money in it, but because it just wasn't for me. I'm not looking to build a business in Insurance. I am more concerned about picking up a little extra money as a plan to make my money in other ways. Educating myself and genuinely helping my friends and their friends is one principle I am unwilling to waiver on. I know now that I can make this side money without WFG. I can get myself licensed and figure out for myself what's really the best choices out there. I don't care if the commission on a term life insurance is tiny if I really help the person and I don't need to do a lot of work because people trust me or people trust the people who reffered them to me. I have an expansive network spanning several countries and continents because people trust me--because I am generally a knowledgeable person. I will not risk my reputation for the opportunity presented by WFG, as great as it potentially could be...

I would love to find a real organization that's really focused building and protecting wealth for its clients regardless of commissions and other considerations--better yet one that I could join part time as a consultant and relationship manager. Chances are, I'd have to build this company myself, which you know what...doesn't sound like such a bad idea...
Respond to this report!
What's this?

#8 UPDATE EX-employee responds

Finally...A Level Head

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

Kim,
You are an asset to your company. Too bad the company is WFG. But if WFG had more agents like you, level thinking, and objective point of view, I think WFG would be more widely accepted. The product does not entirely make the company. It's the positive attitudes and perceptions of those who work for the company. You are absolutely correct regarding Johnathan's response. If I was his DA (or Marketing Agent as you all put it) I would fire him right away. That is NOT how the image of a company is projected. Kim, you exemplify what an agent should be. Thank you.
If you ever move to Virginia and want to work for a real family financial planning firm, look me up.
Respond to this report!
What's this?

#9 UPDATE EX-employee responds

A Thought for Everyone Reading

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

I hear a lot of Primerica being mentioned here. Does anyone know that the founder of WMA/WFG was an ex-agent od Primerica. Although that doesn't mean much, everyone should realize that the recruiting factor is brought over and strongly encouraged and exercised.

To the above agent named Johnathan who called everyone a name...what's up with that??? Is that what the company taught you? That ifpeople disagree with their company, they're morons or idiots? That seems to be the sign of a cult; defend with aggressiveness.

It is a hugely successful company, otherwise, they would not have so many people join, but I have to agree, if you're in the financial fiels, do not hire kids right out of high school with no experience in life, the stock market, the economy or how to "help" others save money, make money or invest. These tasks should be left for professionals who have extensive training and experience. After all, you're dealing with other people's hard earned cash.

Everyone should go in there with an open mind but opened eyes too! Do not be blinded by their talks of high earnings, trails & commissions. Look carefully and think hard and long before you sign anything. They use their agents' relationships to build trust. They taught me that if I were to hit up my family and friends, there will be more trust and less questions. I do not agree. I wish to keep my friends and family around.
Respond to this report!
What's this?

#10 UPDATE EX-employee responds

World Financial Group Reality Check

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

I was a former "employee" of WFG - already lecensed for many years. I thought I could meet some young people, and add value by doing some real financial services training on issues like product suitability, diversification, etc.

Unfortunately, the specific branch office determines the appropriateness of the subject matter and we had a really bad apple in the branch I was assigned to. Most branches are driven by high commission sales, rarely are any subjects other than VUL or, within only the past year or two, mortgage brokerage products discussed. This company is NOT a real financial services firm (even though AEGON is trying their best to clean up the operations and compliance practices based in Duluth). They have a very long way to go to make it a legitimate business. There are far too many do-it-yourself branches and practices because of "anyone can be a millionaire/follow-the-leader/sell them the dream mentality of any MLM business.

WFG IS an MLM business - which means, to suceed in this firm, you need to recruit like hell, study on your own, buy expensive licensing books take your own tests to get licensed if you want to be legit (all in close to $1,000 in out-of-pocket costs which they should tell you up front, but don't because you can sell mortgages by getting around those licensing requirements to earn some income WHILE you study for your lecenses), so you can begin to get compensated on your own sales. To prove that you are earnest, they will ask you to come up with a list of 50 names - good prospects - to whom THEY will sell VUL policies - to show you how it will be done after you're licensed. This is "field training."
After this, ,you are supposed to do the same thing with your recruits - get 10 to sign up in a week, get their list of 50, , and you have 500 prospects to sell VUL to. Cha-ching - do the math - instant success. I just shared their key to success (other than taking a branch from a down;ine member - but that's another discussion.)

WFG will always push VUL as the first product you sell. When you hear terms like "upline and downline" in a financial services firm, realize they are an MLM firm selling one, maybe two products.

If you want a "career" in financial services, and respect in the financial commuunity, stay away from this company - they had no standing or respect before AEGON purchased them, and are trying desparately to hang onto AEGON's coattails to claim their spot in the industry.

The previous comment from California going on about the McDonald's analogy is almost verbatim of what is provided in their rah-rah trtaining/meetings.

Advice: Don't be a lemming and purchase useless and expensive life insurance policies - steer clear of these people and this firm.
Respond to this report!
What's this?

#11 UPDATE EX-employee responds

Rebuttal to Claude from Torrance ...As far as pyramid schemes go, if it walks like a duck and talks like a duck....

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

The slave company, Primerica, depends upon
recruitment to make money which only benefits the
upper echelon. What percentage makes a living off of product sales alone? (can anybody prove that they're making over $10,000 a year from that area
legitmately? what percentage of the company can claim that? can Primerica produce 10 frontline slaves with W2's proving they're making over $10,000 a year from product sales alone. And how long on average does it take a rep to advance through the ranks to making real money at over $50,000 a year. Does Primerica guarantee this success or is it "an opportunity?")

Unfortunately Primerica survives only through
deception and fraud which is rampant throughout the company. Their products are generally overpriced and inferior compared to competition. "If it walks like a duck and talks like a duck...."
Respond to this report!
What's this?

#12 UPDATE Employee

Do you get it yet? common fears are the following

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

After reading a majority of these responses, the common fears are the following:

1)Q...Is this legit?
A...Yes. If it were a scam, WFG wouldn't have anybody to send business to because all these companies we're used to hearing about on TV would want nothing to do with a company that isn't legit. I work with the company, and I always hear people that are skeptical say,"I'm gonna research the company first.." and by all accounts, that's fair since this business will require an investment of time and money, and I don't know anyone who can afford to lose either. But how much more research are you really going to be able to do on your $1,000 home computer with DSL (if you're with the times) than a multi-billion dollar company with countless resources and industry insiders who are constantly on the look out for pitfalls and scams?

2)Q...Am I going to make any money?
A...With an attitude like that, probably not. Imagine going into a sports competition wondering if you're going to win. Chances are, you won't. Believing in your self and being absolutely sold on the idea that you will succeed is crucial and that kind of successful thinking transcends industries.

3)Q...I know a guy, who knows a guy, who lived with this girl once that was the cousin of a WFG agent and he didn't make it. Is this a scam?
A...I know a few people who made a rediculous amount of money in the mortgage industry over these last couple of years. I also know of quite a few people who went and got their real estate licenses so they could capitalize on the trend, and didn't make a dime. Does that mean the mortgage industry doesn't work? In this company, we study a lot about human nature. What we find is that a majority of people are lazy, insecure, introverted, inconsistent in their character, terrible at time management, unreliable and yet at the same time they feel they're entitled to everything. People don't realize that a good business takes time. And if you come to the table with some of these character flaws that were listed above, regardless of what kind of business you're starting, you're going to have set backs. The great thing about this company is, we recommend that you read books and associate with the people that can help you with these short comings. Believe me, I had a lot of those flaws myself, but I knew that as long as I didn't quit, those wrinkles would eventually get ironned out. I believe that because of the things that I've learned in this company in regards to character, I would be successful in any business venture I undertake.

4)Q...Is this a pyramid?
A...No. And since we're on the subject, let's set the record straight on what a pyramid is exactly since everyone seems to be using this term so loosely. Back in the early 70's, groups of people would get together for what were known as "pyramid" gatherings. What would transpire is this. A pyramid of 15 boxes were drawn on a board arranged in a pyramid fashion...8 boxes on the bottom, then four boxes on top of those, then two , then one. First, you had to purchase a box that was sold at a set price, then you had to find two people to purchase a box underneath you for the same price, then those two people did the same and so on and so on until you were in the top box. If you were in the top box and all the 8 boxes on the bottom row were purchased, you were considered "cashed out" and you would get all the money that was gathered from the bottom 8 boxes. The top box that you occupied would be removed and the two people that you found to purchase the two boxes underneath you would split off to be at the top of their own pyramids and the process would repeat itself indefinitely. Yes, in the end, someone had to be left hangin with no "cash out" and this process eventually became illegal and never actually offered any service or product. It was simply a way to make money quick and easy and that is what a pyramid is. This culture of making money also started to become popular again in the mid 90's but met the same fate.

5)Q...Is this an MLM.
A...The best way to describe this company is a hybrid of an MLM and franchising. Its MLM in the sense that you can hire people who in turn can hire people as well, but that's where it stops. In this company, I spent a period of time making a great living with no one on my team at all. I've seen other people hire other people, and then get passed up by the people they hired. I fought the idea of recruiting for so long, but eventually gave in when I realized it's the best way to sustain the system of your business. Imagine buying a Mc Donalds and never hiring a cooker, cashier, cleaner, or drive-thru attendent. Eventually you have to get around to hiring people to run the system. Are there people not in this company who have made it on their own? Absolutely. But that's the great thing about our country. You can try it, and if it's not for you, you can try something else. Unless you have a defeatist attitude and you give up at the whim of any resistance.

6)Q...I keep reading about people with heavy accents. Is this normal?
A...If it were normal, is that all it takes for you to give up? If people with heavy accents can make it in America, what does that say about the people who don't have heavy accents and were born in this country and have yet to make it anywhere. the fact is, this company has two divisions, the World division and the Financial Division. The World Division is predominantly made up of folks of asian descent. I admit that it was frustrating to sit through a training session listening to someone from that division butcher the english language and talk as loud as if they were wearing head phones while they were giving their speach, but it just made me more determined to make it. If they could make it, I could make it.


In closing, for those who posted remarks on this website because of a bad experience, I whole heartedly apologize and I'm telling you, you missed out on the chance to really see the goodness of this company. You know, we are in a time as a country, financially speaking, where the walls are closing in on people. Taxes keep going up, prices on goods keep going up, costs for housing and apartments keep going up, costs for medical needs keep going up, but wages are not going up. Because of my involvement in this company, I've had a broader aspect on the whole economy much farther than the horizons of just this company. What I've come to the conclusion is that since we live in a capitalist country, it doesn't serve people anymore to have just a job. To have a job as an employee for some big company is socialism, and there for, the end result, whether its five, ten or twenty years from now, is usually financial disaster. We're in a time when company loyalty is at an all time low and a need for a solution for a better way of life is at an all time high.
By the way, you've probably already heard this before, but pretty much every company is multi level. The problem with the companies most of us work for as employees is that, as an employee, you don't ever share in any of the profits. How much money have you made for the company that you work for? We're at a time when the distribution of wealth is at its worst in regards to proportionality, and the best way to reset that balance is through more people getting their own business started. Unfortunately
most people don't have the money needed to start what many others would consider a "legitimate" business. I believe MLM's are an integral part of our economy, but the problem is, everyone knows a guys who knows a guy who knows a guy who didn't make it, and many will have their dreams shot before they even get out of the gate. I love this company. I love what it stands for and I love that it actually deals with issues that people actually lose sleep over. No one loses sleep over where they're going to get their next calling card from or who their long distance service is through or where they're going to get their next bottle of soap from. I'm not knocking those other business opportunities that offer those products and services because they have changed the lives of moany people, but after having clients cry in the middle of my presentation, I know I'm dealing with issues that matter. Will you make it? I hope so, but the great thing is, it's up to you and not some guy with a fancy title that you answer to at your job.
Respond to this report!
What's this?

#13 Consumer Comment

THE ANSWER

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

WFG is a multi-level marketing scheme to get those at the top rich. The key to being successful in WFG and making money is getting enough people underneath you.

I attended to a few and was smart enough to not give them $100 for a background check (THAT IS TOTALLY RIDICULOUS, YOU CAN ORDER A THOROUGH BACKGROUND CHECK ON THE INTERNET FOR $30 - HIGH QUALITY TO, and why can't a billion dollar corporation do it for cheaper??? - this is where they make some money).

Anyway, I went to their meetings to listen to the people at the top talk and train. These are the ones that supposedly have made money from it and have been doing it for years. In terms of understanding personal finances I could run circles around all them, combined! They don't really know anything about personal finances and THEY DON'T CARE. All they want to do is recruit more people and make money off of them. I sat through a few HOURS of "training" and not one word was mentioned about how to help people financially only how to coerce others into WFG to make money off them (so those talking to you can make more money off you).

This is a great example of multi-level marketing and has NO SUBSTANCE!!!! I am not saying they are doing anything illegal - as far as I can tell they aren't. Anyone who says otherwise (unless they have proof) is just plain biased. However, they are very unethical and pray on people's base desire to make money for nothing or off of other people's work.

Don't get involved, save yourself time and money and please keep your integrity.

I am sure someone that is entangled in WFG will respond to this because it will make them mad. This is because it exposes their secrets that they don't want anyone to know except those in on it. The truth always hurts when it works against you.
Respond to this report!
What's this?

#14 UPDATE Employee

Another inside view but from a Canadian standpoint

AUTHOR: Raymond - (Canada)

I will start by saying I am a associate with WFG and posted my response after reading all the rebuttals. I was approached by this company from a friend that I have know for over 20 years. Also to note that I have a Business Administration Degree and majored in Finance and Accounting. At first I saw the company when it was going thru a change from WMA to WFG and before Aegon was involved.

I joined the first day and when I went home thought twice about what it did. I lasted for two months then decided that it wasn't for me. I did read alot of the other boards about it being a scam and a pyramid but realized that it wasn't that. It took me a year and a half to realize this and to get back in and get licenced and trained for real.

True when you are not licenced the only training you get is in recruiting. This is because the SEC, at least in Canada, prevents anyone non-licenced to receive training on how to sell or explain produces due to compliance. Also since the industry is heavily regulated you have to have errors and ommissions insurance so if you feel you got ripped off by a licenced agent you could take them to court for false information.

Sure many of the top leaders do speak with a heavy accent but what I did notice at the Las Vegas convention was that the more succesful people where immigrants who wanted a better chance in life. WFG is a long term business choice and not something that can change your life overnight.

What I did get from WFG was a better understanding of how finances worked. Also after getting licenced you can easily approach many of the product providers for information and training either in groups or one on one. This is my part time job and my goal is to make it my main income source in the next 5 years. What I also got out of WFG was that your own family comes first and if you cannot help your own family then you shouldn't be going out to help others.

In Canada investing is different from in the states and I know that before when I invested thru banks it never seemed to make sense and I never seemed to get ahead. Once I understood about the rest of the industry it made me realize that banks really only look after shareholders and not customers in the long run.

True WFG is not for everyone but do your research and talk with an associate first before you pass judgement. In all companies some will make it and others will fail but in the end we all learn.
Respond to this report!
What's this?

#15 UPDATE Employee

Another inside view but from a Canadian standpoint

AUTHOR: Raymond - (Canada)

I will start by saying I am a associate with WFG and posted my response after reading all the rebuttals. I was approached by this company from a friend that I have know for over 20 years. Also to note that I have a Business Administration Degree and majored in Finance and Accounting. At first I saw the company when it was going thru a change from WMA to WFG and before Aegon was involved.

I joined the first day and when I went home thought twice about what it did. I lasted for two months then decided that it wasn't for me. I did read alot of the other boards about it being a scam and a pyramid but realized that it wasn't that. It took me a year and a half to realize this and to get back in and get licenced and trained for real.

True when you are not licenced the only training you get is in recruiting. This is because the SEC, at least in Canada, prevents anyone non-licenced to receive training on how to sell or explain produces due to compliance. Also since the industry is heavily regulated you have to have errors and ommissions insurance so if you feel you got ripped off by a licenced agent you could take them to court for false information.

Sure many of the top leaders do speak with a heavy accent but what I did notice at the Las Vegas convention was that the more succesful people where immigrants who wanted a better chance in life. WFG is a long term business choice and not something that can change your life overnight.

What I did get from WFG was a better understanding of how finances worked. Also after getting licenced you can easily approach many of the product providers for information and training either in groups or one on one. This is my part time job and my goal is to make it my main income source in the next 5 years. What I also got out of WFG was that your own family comes first and if you cannot help your own family then you shouldn't be going out to help others.

In Canada investing is different from in the states and I know that before when I invested thru banks it never seemed to make sense and I never seemed to get ahead. Once I understood about the rest of the industry it made me realize that banks really only look after shareholders and not customers in the long run.

True WFG is not for everyone but do your research and talk with an associate first before you pass judgement. In all companies some will make it and others will fail but in the end we all learn.
Respond to this report!
What's this?

#16 UPDATE Employee

Another inside view but from a Canadian standpoint

AUTHOR: Raymond - (Canada)

I will start by saying I am a associate with WFG and posted my response after reading all the rebuttals. I was approached by this company from a friend that I have know for over 20 years. Also to note that I have a Business Administration Degree and majored in Finance and Accounting. At first I saw the company when it was going thru a change from WMA to WFG and before Aegon was involved.

I joined the first day and when I went home thought twice about what it did. I lasted for two months then decided that it wasn't for me. I did read alot of the other boards about it being a scam and a pyramid but realized that it wasn't that. It took me a year and a half to realize this and to get back in and get licenced and trained for real.

True when you are not licenced the only training you get is in recruiting. This is because the SEC, at least in Canada, prevents anyone non-licenced to receive training on how to sell or explain produces due to compliance. Also since the industry is heavily regulated you have to have errors and ommissions insurance so if you feel you got ripped off by a licenced agent you could take them to court for false information.

Sure many of the top leaders do speak with a heavy accent but what I did notice at the Las Vegas convention was that the more succesful people where immigrants who wanted a better chance in life. WFG is a long term business choice and not something that can change your life overnight.

What I did get from WFG was a better understanding of how finances worked. Also after getting licenced you can easily approach many of the product providers for information and training either in groups or one on one. This is my part time job and my goal is to make it my main income source in the next 5 years. What I also got out of WFG was that your own family comes first and if you cannot help your own family then you shouldn't be going out to help others.

In Canada investing is different from in the states and I know that before when I invested thru banks it never seemed to make sense and I never seemed to get ahead. Once I understood about the rest of the industry it made me realize that banks really only look after shareholders and not customers in the long run.

True WFG is not for everyone but do your research and talk with an associate first before you pass judgement. In all companies some will make it and others will fail but in the end we all learn.
Respond to this report!
What's this?

#17 UPDATE Employee

Another inside view but from a Canadian standpoint

AUTHOR: Raymond - (Canada)

I will start by saying I am a associate with WFG and posted my response after reading all the rebuttals. I was approached by this company from a friend that I have know for over 20 years. Also to note that I have a Business Administration Degree and majored in Finance and Accounting. At first I saw the company when it was going thru a change from WMA to WFG and before Aegon was involved.

I joined the first day and when I went home thought twice about what it did. I lasted for two months then decided that it wasn't for me. I did read alot of the other boards about it being a scam and a pyramid but realized that it wasn't that. It took me a year and a half to realize this and to get back in and get licenced and trained for real.

True when you are not licenced the only training you get is in recruiting. This is because the SEC, at least in Canada, prevents anyone non-licenced to receive training on how to sell or explain produces due to compliance. Also since the industry is heavily regulated you have to have errors and ommissions insurance so if you feel you got ripped off by a licenced agent you could take them to court for false information.

Sure many of the top leaders do speak with a heavy accent but what I did notice at the Las Vegas convention was that the more succesful people where immigrants who wanted a better chance in life. WFG is a long term business choice and not something that can change your life overnight.

What I did get from WFG was a better understanding of how finances worked. Also after getting licenced you can easily approach many of the product providers for information and training either in groups or one on one. This is my part time job and my goal is to make it my main income source in the next 5 years. What I also got out of WFG was that your own family comes first and if you cannot help your own family then you shouldn't be going out to help others.

In Canada investing is different from in the states and I know that before when I invested thru banks it never seemed to make sense and I never seemed to get ahead. Once I understood about the rest of the industry it made me realize that banks really only look after shareholders and not customers in the long run.

True WFG is not for everyone but do your research and talk with an associate first before you pass judgement. In all companies some will make it and others will fail but in the end we all learn.
Respond to this report!
What's this?

#18 Consumer Comment

To Marfel and others unsured...

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

Marfel,

I tried to remain neutral and speak generally about business and other business regarding recruiting in the rebuttal above but since you're with WFG I will speak specifically to you.

Besides, already a member of WFG and going to the Las Vegas Convention, I don't know how long you've joined or how far you are in your training.

You must understand what kind of business World Financial Group is. World Financial Group, WFG, is an independent marketing company whose affiliates offer a broad array of financial services. So in order to deliver those financial products and services to people, they've chosen not to use the traditional marketing methods like the rest of the industry. WFG is very much different from other financial companies in many ways so don't assume otherwise. Anyway, if you were there at the Convention and attended the events like you should then you already understand that and what WFG is trying to accomplish.

First of all, understand that WFG is structured to benefit the builders, the entrepreneurs, the businessminded person, the MDs, and not the salespersons. Granted sales has to be made to generate commissions but sales and commissions are just by-products if you effectively follow the system and do the right thing over and over. The focus of the company is not to produce merely salespeople but Marketing Directors who understands the Vision and Mission of the WFG. You have to also understand that a Marketing Director position is just the beginning of a person's building career with WFG. That's when you truly learn to build a your own business. A true MD understands this and take the WFG's Mission and Vision to heart but recruiting and building. That is how WFG reaches and help people on a massive scale.

With that in mind, you have to understand WFG's market niche. These are not people with hundreds or millions of dollars to work with. Although we certainly can help these people also. However, WFG's market are people who needs to understand basic money concepts and needs some forms of insurance protection and investment. That's why WFG chose to makes it simple for people to understand. Often we don't believe that it can be that simple in order for it "to work" so we tend to complicate things by over analyzing, generating reports, talking in a very technical way, and giving people way too many choices. Most of the time it doesn't help the people, just make them more confused. Remember who WFG is serving what what they're trying to accomplish...a new industry of clients who understands.

Now, regarding training...there are many types of training that goes on in WFG because the nature of the business. Understand that every office operates in a similar fashion but also varies in other ways. This is dependent on the leadership in that office. Training is given by different people with different expertise at different places and times. That could be leaders in the office, from different offices, product providers, in that office, in other offices, conventions, training seminars, or more importantly IN THE FIELD. At times, you'll learn about people, about business, about WFG, about starting, building and expanding your WFG business, about servicing clients, about compliance, about leadership, about field work, about financial concepts, about motivation, about products, about family and family values, and about yourself. While other times you'll learn what not to do and who not to imitate. If you open your mind and heart to learn you will learn one thing or the other but either way it will help you in the business.

Hey, you're not the only one who have trouble understanding some of these English-as-a-Second-Language people. But let me ask you something, do those people determine if you will become successful in WFG? To me, if they speak like that and can do it, what's your excuse...right? Gosh, that "non-Italian" Rocky. Look at him. Do you realized that most of the people that's with him hold PhDs? Nonetheless, we shouldn't criticize them for that. Not speaking fluently has nothing to do with their intellect, what they can do for people, or who they are as a person. For all I know, they may understand the business better than you and me and have helped and is helping many more people and making more people dreams come true than you or I.

As far as product training is concerned, if you want product training, then submit your paperwork for licenses...all of them! You are not in business until then and you will be very limited in terms of product traning. WFG encourages you to do this ASAP. You've heard it from me ok. In a traditional B/D they won't even accept you if you're not already licensed or if you don't get licensed within a certain time period. So let me ask you a question. Is it wise to spend time and energy to train tire-kickers or someone who doesn't have intention to invest in their licenses to start the business? Do you think other B/D spend their time training non-licensed people on products? Try it and find out. You may have the intention, but your leaders don't know that until you show them. Action speaks for itself. Sorry, I had to get that out of the way.

From my own experience, I believe WFG provide pretty good training but you have to take advantage of it. I thought I knew very little until I speak with guys who have been in the industry for 10,15,20 years. I'm not here to bash anyone. Certainly there are those out there who knows what they're talking about and are doing tremendous things for people but I just happen to meet these individually personally. They may talk like they know quite a bit but as I later found out, they lack basic understanding of the concepts that WFG believes in. Think about it, if people in the industry really know what they were doing, would people be under-insured, not insured, or have the wrong financial vehicle for their objectives? Remember, the reason is the industry has been focused on products and sales. At WFG, we're trying to change that by focusing on concepts and building. I know people will think it's ludicrous and crazy but hey, that's our goal and challenge.

We have Advanced School for licensed and U-4 applicants, Train the Trainers sessions, Tiger School for advanced sales, online Webcast training, training from product providers, hands-on field training, and other technical and product training available for you. If you were at the Las Vegas Convention of Champions there were tons of workshops and a Registered Rep. Day so I really don't know why people would say that there is no training. Most of the time, those who complains are the ones who haven't submit for licenses or don't go to these trainings. If you want more training or training tailored to your needs then let you leaders know (in a mannerly way) so they can bring in trainers to the office. When you fill out the monthly compliance forms there is a question that ask if you want additional training. Fill that question out.

This is YOUR business, take control of it. With any business you need to be proactive. Understand that this is a business of people. And because of that no business will be perfect, even if they have the best intentions. Remember, you wouldn't bring someone in the business to hurt them, so others don't intent to hurt you either. The people in business with us are usually our close friends and families and the people we trust. Our business only grows when we help you grows yours. The sad fact is in life and especially in business, there's no guarantee. You've spent years and money in school and you're graduating in Finance but is there any guarantees that you will get a good job after graduating? I think colleges and universities would be sued left and right if they made this guarantee. There's no guarantee even if you studied in the best schools in the world. So will you make money? Hopefully. Will you become success with WFG? Hopefully.

WFG can't guarantee success because it depends on many factors including work ethics. But I hope you were witness to the success that can happen in WFG if you're willing to invest the time, effort, and resources needed. WFG has the opportunity and the countless success stories that the opportunity has created. What that means to you and me is we have the same opportuntiy as those people to make it and to make it big with WFG. I hope that makes sense to you. Don't let others kill your dreams and what you believe in. We have a great task at hand. There will always be competition in business. When was the last time you hear an Allstate agent talking good about a StateFarm agent.

Sometimes, even people from the same company talk bad about each other. I know of a company who only promote TERM and bashes cash-value insurance but the fact is that their sister company who are owned by the same parent company sells cash-value. It happens and it doesn't take a genuis to figure this out. That is why you will encounter people who will find bad things to say even if they have to make it up. But what's more important is you, are you the kind of person like they say. If not then don't let that distract you from what you want to do. How you feel and whatever you're thinking, talk to your leaders, someone who has a vested interest in your success. Don't let faceless individuals influence and decide for you.
Respond to this report!
What's this?

#19 UPDATE Employee

DONE THE RESEARCH - STILL CONFUSED

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

The truth is, I just started working for WFG and I am not fully licensed yet, however, I have paid the initial fees which amounted to about $225 including the convention I just went to last week of July. And NO, I have not made any money yet.

I know it's almost late in the game to start on my research now, but I feel that I need to before I pursue this any further. Everyone who has posted a rebuttal is always talking about doing your homework and deciding for yourself. Well, for individuals like myself who is young, a woman, and has no previous career in financial services - it is difficult. Everyone has good points and offer good advice, but I am still confused about this company. I know it is legit, but am I going to make money? I have acquired excellent salesperson's skills at my previous jobs, I am intelligent and I work hard - but that doesn't say much about how well I am going to do in this company.

From first hand experience, all the meetings do seem redundant to me and offer no "real" education. Each meeting is always about recruiting and never about the product. Til now, I still have no idea about what are the differences in life insurance policies; I see a problem there. I'm graduating as a Finance major on Dec. 2004 and after going to school for all these years I am very much accustomed to "learning everything." That is my primary negative comment about WFG - the company and its uplines do not educate its downlines about its products. Don't you think that during my training session I should be aware of what is the difference between whole life insurance and term life insurance?

My second complaint is that it is true, during the convention, the speakers had such a thick accent that I barely understood what was being said; which made it even harder for me to stay focus.

However, despite these negative comments, I was still impressed at the Gala (awards night) when the VP of Aegon and the Chairman of WFG gave their speeches. They weren't talking about recruiting or how to be successful, they talked about family values, integrity, and morality. Those three things are very important to me. But some may ask, what does that have to do with the organization? I think it is very important to the organization because it emphasizes honesty, responsibility, and integrity to its employees. When your VP or Chairman of your company is telling you to go home and love your family, he's talking about you practicing positive morality. Engaging in positive morality will benefit yourself and your business.

I know it sounds like I am undecided on this issue, and I AM. Please, don't give any feedback without accurate knowledge and firsthand experience. It's disturbing to people like me who want to make a good decision. Like I've said before, I'm a fresh college graduate and getting a job isn't easy - but I am also not willing to invest my time, efforts, and heart into a company that will not do the same for me.
Respond to this report!
What's this?

#20 UPDATE Employee

DONE THE RESEARCH - STILL CONFUSED

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

The truth is, I just started working for WFG and I am not fully licensed yet, however, I have paid the initial fees which amounted to about $225 including the convention I just went to last week of July. And NO, I have not made any money yet.

I know it's almost late in the game to start on my research now, but I feel that I need to before I pursue this any further. Everyone who has posted a rebuttal is always talking about doing your homework and deciding for yourself. Well, for individuals like myself who is young, a woman, and has no previous career in financial services - it is difficult. Everyone has good points and offer good advice, but I am still confused about this company. I know it is legit, but am I going to make money? I have acquired excellent salesperson's skills at my previous jobs, I am intelligent and I work hard - but that doesn't say much about how well I am going to do in this company.

From first hand experience, all the meetings do seem redundant to me and offer no "real" education. Each meeting is always about recruiting and never about the product. Til now, I still have no idea about what are the differences in life insurance policies; I see a problem there. I'm graduating as a Finance major on Dec. 2004 and after going to school for all these years I am very much accustomed to "learning everything." That is my primary negative comment about WFG - the company and its uplines do not educate its downlines about its products. Don't you think that during my training session I should be aware of what is the difference between whole life insurance and term life insurance?

My second complaint is that it is true, during the convention, the speakers had such a thick accent that I barely understood what was being said; which made it even harder for me to stay focus.

However, despite these negative comments, I was still impressed at the Gala (awards night) when the VP of Aegon and the Chairman of WFG gave their speeches. They weren't talking about recruiting or how to be successful, they talked about family values, integrity, and morality. Those three things are very important to me. But some may ask, what does that have to do with the organization? I think it is very important to the organization because it emphasizes honesty, responsibility, and integrity to its employees. When your VP or Chairman of your company is telling you to go home and love your family, he's talking about you practicing positive morality. Engaging in positive morality will benefit yourself and your business.

I know it sounds like I am undecided on this issue, and I AM. Please, don't give any feedback without accurate knowledge and firsthand experience. It's disturbing to people like me who want to make a good decision. Like I've said before, I'm a fresh college graduate and getting a job isn't easy - but I am also not willing to invest my time, efforts, and heart into a company that will not do the same for me.
Respond to this report!
What's this?

#21 UPDATE Employee

DONE THE RESEARCH - STILL CONFUSED

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

The truth is, I just started working for WFG and I am not fully licensed yet, however, I have paid the initial fees which amounted to about $225 including the convention I just went to last week of July. And NO, I have not made any money yet.

I know it's almost late in the game to start on my research now, but I feel that I need to before I pursue this any further. Everyone who has posted a rebuttal is always talking about doing your homework and deciding for yourself. Well, for individuals like myself who is young, a woman, and has no previous career in financial services - it is difficult. Everyone has good points and offer good advice, but I am still confused about this company. I know it is legit, but am I going to make money? I have acquired excellent salesperson's skills at my previous jobs, I am intelligent and I work hard - but that doesn't say much about how well I am going to do in this company.

From first hand experience, all the meetings do seem redundant to me and offer no "real" education. Each meeting is always about recruiting and never about the product. Til now, I still have no idea about what are the differences in life insurance policies; I see a problem there. I'm graduating as a Finance major on Dec. 2004 and after going to school for all these years I am very much accustomed to "learning everything." That is my primary negative comment about WFG - the company and its uplines do not educate its downlines about its products. Don't you think that during my training session I should be aware of what is the difference between whole life insurance and term life insurance?

My second complaint is that it is true, during the convention, the speakers had such a thick accent that I barely understood what was being said; which made it even harder for me to stay focus.

However, despite these negative comments, I was still impressed at the Gala (awards night) when the VP of Aegon and the Chairman of WFG gave their speeches. They weren't talking about recruiting or how to be successful, they talked about family values, integrity, and morality. Those three things are very important to me. But some may ask, what does that have to do with the organization? I think it is very important to the organization because it emphasizes honesty, responsibility, and integrity to its employees. When your VP or Chairman of your company is telling you to go home and love your family, he's talking about you practicing positive morality. Engaging in positive morality will benefit yourself and your business.

I know it sounds like I am undecided on this issue, and I AM. Please, don't give any feedback without accurate knowledge and firsthand experience. It's disturbing to people like me who want to make a good decision. Like I've said before, I'm a fresh college graduate and getting a job isn't easy - but I am also not willing to invest my time, efforts, and heart into a company that will not do the same for me.
Respond to this report!
What's this?

#22 UPDATE Employee

DONE THE RESEARCH - STILL CONFUSED

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

The truth is, I just started working for WFG and I am not fully licensed yet, however, I have paid the initial fees which amounted to about $225 including the convention I just went to last week of July. And NO, I have not made any money yet.

I know it's almost late in the game to start on my research now, but I feel that I need to before I pursue this any further. Everyone who has posted a rebuttal is always talking about doing your homework and deciding for yourself. Well, for individuals like myself who is young, a woman, and has no previous career in financial services - it is difficult. Everyone has good points and offer good advice, but I am still confused about this company. I know it is legit, but am I going to make money? I have acquired excellent salesperson's skills at my previous jobs, I am intelligent and I work hard - but that doesn't say much about how well I am going to do in this company.

From first hand experience, all the meetings do seem redundant to me and offer no "real" education. Each meeting is always about recruiting and never about the product. Til now, I still have no idea about what are the differences in life insurance policies; I see a problem there. I'm graduating as a Finance major on Dec. 2004 and after going to school for all these years I am very much accustomed to "learning everything." That is my primary negative comment about WFG - the company and its uplines do not educate its downlines about its products. Don't you think that during my training session I should be aware of what is the difference between whole life insurance and term life insurance?

My second complaint is that it is true, during the convention, the speakers had such a thick accent that I barely understood what was being said; which made it even harder for me to stay focus.

However, despite these negative comments, I was still impressed at the Gala (awards night) when the VP of Aegon and the Chairman of WFG gave their speeches. They weren't talking about recruiting or how to be successful, they talked about family values, integrity, and morality. Those three things are very important to me. But some may ask, what does that have to do with the organization? I think it is very important to the organization because it emphasizes honesty, responsibility, and integrity to its employees. When your VP or Chairman of your company is telling you to go home and love your family, he's talking about you practicing positive morality. Engaging in positive morality will benefit yourself and your business.

I know it sounds like I am undecided on this issue, and I AM. Please, don't give any feedback without accurate knowledge and firsthand experience. It's disturbing to people like me who want to make a good decision. Like I've said before, I'm a fresh college graduate and getting a job isn't easy - but I am also not willing to invest my time, efforts, and heart into a company that will not do the same for me.
Respond to this report!
What's this?

#23 Consumer Comment

Call it whatever...who cares..

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

Tom,

Looks like you understand business in general. I think most people go into business and never think like a businessman or businesswoman. Other people join an opportunity but never start because they are discouraged by friends, family, and even strangers that they have never met or will ever meet. They're excited and filled with hope in the beginning but their excitement is short-lived. Their enthusiasm is often crushed at the first sign of negativity regardless if it's true or not. Many failed to do their own due diligence and rely on the opinions of the people like themselves. Granted, there is no guarantees in the business world, just as there is no guarantees in life. But only in business in this country is there a level-playing field for anyone to work hard and succeed.

Realize that business is tougher than job, much tougher. You wear many hats and have many different responsibilities. There are also apparent risks involve in business. But with anything there is a risk/reward tradeoffs and in the business world nothing is more true. However, the potential and rewards are unimaginable. Look into any business opportunities and you will find the "winners" and the "losers", the optimists and the pessimists, those who complies to a proven business model and those who complains. Realize that often times the successful people you hear about in these businesses are just like you but they persist in what they do regardless the naysayers.

I know it's hard to believe and I can understand why you feel that way. If you tell people to get real, then look around you and the environment you're in. Reality, is most people dread going to work, answering to a boss from 8-5, day in and day out. Reality is while people continue to do that they end up retiring in poverty. Reality is they are most often betrayed by their employers when they need their employers the most. If you want to be part of that reality then that's your choice but don't kill the dreams of those who are trying to free themselves from the same harsh "reality" that you choose. Yes, now I understand why it's hard to believe such testimonies and success stories that you often hear in business opportunity meetings. That's because success stories like those are not common in "reality" so it can't be real...right? There are countless of number people who believe in what they do, what their company stands for, and the success stories that their businesses produce. And there are equally the same number who feel they've been cheated out of their success or feel other's success takes away from theirs. They may have started off not feeling that way but it may be that they were in conflict with others and it made them that way. Or they may join for the wrong reasons, thinking success will be easy, or they may have been misled. Whatever the case, there are and probably always will be people who've never made it in the business and need something or someone to blame. In the end, reality is pretty much what you make of it.

As for recruiting...is that such a bad thing? Have you ever referred someone to Sprint and gotten a referral credit for it? Have your employer ever compensate you for referring great employees? What business, church, organization, government doesn't recruit? So is recruiting such a bad thing? Only if you get paid from it right? Well, first of all if that's the main and only way you get paid, then it's illegal and no business would be allowed to operate in the open like that. Ask yourself, when you join and pay your membership fee, do the person who recruited you get any of that money? If no then there's no chance of it being illegal. If you're not sure then join and recruit others and see if you get paid ;-). People are paid on a service performed or a product sold not from the membership fee. BTW, Amway, Mary Kay, Avon, Herbalife, Primerica, WFG, etc...none of those are in anyway an illegal pyramid despite what you hear. They've been around for years, with members who are professionals like accountants, doctors, lawyers, public servants, etc... MLM, network marketing, relationship marketing, whatever you want to call it...it's just a term to describe their compensation and marketing system. Is that good or bad? Illegal? You tell me. Have you been to a real estate office where there are a few brokers and many agents? Don't the brokers recruit? Out of the fees for selling a house do the broker pay his/her agent 100% or do they split the commission so that the broker will have money to pay for the office, supplies, and other resources? Who trained that new agent in the beginning? Wasn't it the broker? If that agent never sold a house because of various reasons, who is to blame? Look at the statistics of the real estate industry and find out how many take the class but never get licensed and those who are licensed but never sold a house and those who never made it in business and quit. Who is to blame? The whole industry?

Look at the company that you're currently working. Do your supervisors make more than you? Do your managers make more than you? Do your executives make more than you? Do the company make money from your efforts? Will you ever make more than your supervisors, managers, executives, the company? Doesn't that sound like a...PYRAMID? But isn't that illegal? So how is it your company is making money off of all its employees and it's still in business? Look at the government...who makes the most? who makes the least?...Sounds familiar. I hope you get the idea. The sad thing is that you will probably never be compensated more than your superiors. That doesn't happen in a true recruiting business opporunity.

The bottom line is this is such a great country, full of opportunities and freedom. We're known throughout the world for our freedom. One of those freedom is the freedom of speech. We're probably the only country that can make fun of our presidents and get away with it. Our freedom of speech come through many media including, newspapers, magazines, radio, TV, and recently the Internet. We can get away with saying just about anything anybody. Just look and listen to the TV, radio, printed media, and now the Internet. What you hear, see, and read everyday in those media isn't necessarily true...just interesting. YOu must separate the facts from opinions and the truth from the lies.

As business people, we must learn to think fast and make quick decisions. Once we make those decisions we must stay the course. Go back and look at the traits of successful men and women and you will see they're also the same way. Lots of time we just need to use a little common sense. Don't let others scare you out of your dreams. If you look at/for problems that is what you will find/see. If you look for solutions, you will find solutions. If you're not sure, ask...don't ask negative people only but also ask positive people and people you have a vested in your successful. Only then make your decision. Just give your leaders and yourself a fair chance. Sure if you go back to your old life, old way, you lose nothing (or so you think)...but you also gain nothing and learned nothing.

There is no guarantees in life. As leaders they can only show us examples of success to prove to us that success can happen and has happened over and over again to people no different than us. And they can only show us the opportunity or the way that have made those success stories possible. The rest is up to us. Take it or leave it but leaders or not we are all human beings. There are no reasons to avoid or ignore each other. Most leaders care for us and don't know why we stop returning their phone calls and the don't know the reason why we stop pursuing the business. If they know, they can help but unfornately they do not. Most of the time we listen to rumors or unverifiable sources and kill ourselves out off the business.
Respond to this report!
What's this?

#24 Consumer Comment

Call it whatever...who cares..

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

Tom,

Looks like you understand business in general. I think most people go into business and never think like a businessman or businesswoman. Other people join an opportunity but never start because they are discouraged by friends, family, and even strangers that they have never met or will ever meet. They're excited and filled with hope in the beginning but their excitement is short-lived. Their enthusiasm is often crushed at the first sign of negativity regardless if it's true or not. Many failed to do their own due diligence and rely on the opinions of the people like themselves. Granted, there is no guarantees in the business world, just as there is no guarantees in life. But only in business in this country is there a level-playing field for anyone to work hard and succeed.

Realize that business is tougher than job, much tougher. You wear many hats and have many different responsibilities. There are also apparent risks involve in business. But with anything there is a risk/reward tradeoffs and in the business world nothing is more true. However, the potential and rewards are unimaginable. Look into any business opportunities and you will find the "winners" and the "losers", the optimists and the pessimists, those who complies to a proven business model and those who complains. Realize that often times the successful people you hear about in these businesses are just like you but they persist in what they do regardless the naysayers.

I know it's hard to believe and I can understand why you feel that way. If you tell people to get real, then look around you and the environment you're in. Reality, is most people dread going to work, answering to a boss from 8-5, day in and day out. Reality is while people continue to do that they end up retiring in poverty. Reality is they are most often betrayed by their employers when they need their employers the most. If you want to be part of that reality then that's your choice but don't kill the dreams of those who are trying to free themselves from the same harsh "reality" that you choose. Yes, now I understand why it's hard to believe such testimonies and success stories that you often hear in business opportunity meetings. That's because success stories like those are not common in "reality" so it can't be real...right? There are countless of number people who believe in what they do, what their company stands for, and the success stories that their businesses produce. And there are equally the same number who feel they've been cheated out of their success or feel other's success takes away from theirs. They may have started off not feeling that way but it may be that they were in conflict with others and it made them that way. Or they may join for the wrong reasons, thinking success will be easy, or they may have been misled. Whatever the case, there are and probably always will be people who've never made it in the business and need something or someone to blame. In the end, reality is pretty much what you make of it.

As for recruiting...is that such a bad thing? Have you ever referred someone to Sprint and gotten a referral credit for it? Have your employer ever compensate you for referring great employees? What business, church, organization, government doesn't recruit? So is recruiting such a bad thing? Only if you get paid from it right? Well, first of all if that's the main and only way you get paid, then it's illegal and no business would be allowed to operate in the open like that. Ask yourself, when you join and pay your membership fee, do the person who recruited you get any of that money? If no then there's no chance of it being illegal. If you're not sure then join and recruit others and see if you get paid ;-). People are paid on a service performed or a product sold not from the membership fee. BTW, Amway, Mary Kay, Avon, Herbalife, Primerica, WFG, etc...none of those are in anyway an illegal pyramid despite what you hear. They've been around for years, with members who are professionals like accountants, doctors, lawyers, public servants, etc... MLM, network marketing, relationship marketing, whatever you want to call it...it's just a term to describe their compensation and marketing system. Is that good or bad? Illegal? You tell me. Have you been to a real estate office where there are a few brokers and many agents? Don't the brokers recruit? Out of the fees for selling a house do the broker pay his/her agent 100% or do they split the commission so that the broker will have money to pay for the office, supplies, and other resources? Who trained that new agent in the beginning? Wasn't it the broker? If that agent never sold a house because of various reasons, who is to blame? Look at the statistics of the real estate industry and find out how many take the class but never get licensed and those who are licensed but never sold a house and those who never made it in business and quit. Who is to blame? The whole industry?

Look at the company that you're currently working. Do your supervisors make more than you? Do your managers make more than you? Do your executives make more than you? Do the company make money from your efforts? Will you ever make more than your supervisors, managers, executives, the company? Doesn't that sound like a...PYRAMID? But isn't that illegal? So how is it your company is making money off of all its employees and it's still in business? Look at the government...who makes the most? who makes the least?...Sounds familiar. I hope you get the idea. The sad thing is that you will probably never be compensated more than your superiors. That doesn't happen in a true recruiting business opporunity.

The bottom line is this is such a great country, full of opportunities and freedom. We're known throughout the world for our freedom. One of those freedom is the freedom of speech. We're probably the only country that can make fun of our presidents and get away with it. Our freedom of speech come through many media including, newspapers, magazines, radio, TV, and recently the Internet. We can get away with saying just about anything anybody. Just look and listen to the TV, radio, printed media, and now the Internet. What you hear, see, and read everyday in those media isn't necessarily true...just interesting. YOu must separate the facts from opinions and the truth from the lies.

As business people, we must learn to think fast and make quick decisions. Once we make those decisions we must stay the course. Go back and look at the traits of successful men and women and you will see they're also the same way. Lots of time we just need to use a little common sense. Don't let others scare you out of your dreams. If you look at/for problems that is what you will find/see. If you look for solutions, you will find solutions. If you're not sure, ask...don't ask negative people only but also ask positive people and people you have a vested in your successful. Only then make your decision. Just give your leaders and yourself a fair chance. Sure if you go back to your old life, old way, you lose nothing (or so you think)...but you also gain nothing and learned nothing.

There is no guarantees in life. As leaders they can only show us examples of success to prove to us that success can happen and has happened over and over again to people no different than us. And they can only show us the opportunity or the way that have made those success stories possible. The rest is up to us. Take it or leave it but leaders or not we are all human beings. There are no reasons to avoid or ignore each other. Most leaders care for us and don't know why we stop returning their phone calls and the don't know the reason why we stop pursuing the business. If they know, they can help but unfornately they do not. Most of the time we listen to rumors or unverifiable sources and kill ourselves out off the business.
Respond to this report!
What's this?

#25 Consumer Comment

Call it whatever...who cares..

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

Tom,

Looks like you understand business in general. I think most people go into business and never think like a businessman or businesswoman. Other people join an opportunity but never start because they are discouraged by friends, family, and even strangers that they have never met or will ever meet. They're excited and filled with hope in the beginning but their excitement is short-lived. Their enthusiasm is often crushed at the first sign of negativity regardless if it's true or not. Many failed to do their own due diligence and rely on the opinions of the people like themselves. Granted, there is no guarantees in the business world, just as there is no guarantees in life. But only in business in this country is there a level-playing field for anyone to work hard and succeed.

Realize that business is tougher than job, much tougher. You wear many hats and have many different responsibilities. There are also apparent risks involve in business. But with anything there is a risk/reward tradeoffs and in the business world nothing is more true. However, the potential and rewards are unimaginable. Look into any business opportunities and you will find the "winners" and the "losers", the optimists and the pessimists, those who complies to a proven business model and those who complains. Realize that often times the successful people you hear about in these businesses are just like you but they persist in what they do regardless the naysayers.

I know it's hard to believe and I can understand why you feel that way. If you tell people to get real, then look around you and the environment you're in. Reality, is most people dread going to work, answering to a boss from 8-5, day in and day out. Reality is while people continue to do that they end up retiring in poverty. Reality is they are most often betrayed by their employers when they need their employers the most. If you want to be part of that reality then that's your choice but don't kill the dreams of those who are trying to free themselves from the same harsh "reality" that you choose. Yes, now I understand why it's hard to believe such testimonies and success stories that you often hear in business opportunity meetings. That's because success stories like those are not common in "reality" so it can't be real...right? There are countless of number people who believe in what they do, what their company stands for, and the success stories that their businesses produce. And there are equally the same number who feel they've been cheated out of their success or feel other's success takes away from theirs. They may have started off not feeling that way but it may be that they were in conflict with others and it made them that way. Or they may join for the wrong reasons, thinking success will be easy, or they may have been misled. Whatever the case, there are and probably always will be people who've never made it in the business and need something or someone to blame. In the end, reality is pretty much what you make of it.

As for recruiting...is that such a bad thing? Have you ever referred someone to Sprint and gotten a referral credit for it? Have your employer ever compensate you for referring great employees? What business, church, organization, government doesn't recruit? So is recruiting such a bad thing? Only if you get paid from it right? Well, first of all if that's the main and only way you get paid, then it's illegal and no business would be allowed to operate in the open like that. Ask yourself, when you join and pay your membership fee, do the person who recruited you get any of that money? If no then there's no chance of it being illegal. If you're not sure then join and recruit others and see if you get paid ;-). People are paid on a service performed or a product sold not from the membership fee. BTW, Amway, Mary Kay, Avon, Herbalife, Primerica, WFG, etc...none of those are in anyway an illegal pyramid despite what you hear. They've been around for years, with members who are professionals like accountants, doctors, lawyers, public servants, etc... MLM, network marketing, relationship marketing, whatever you want to call it...it's just a term to describe their compensation and marketing system. Is that good or bad? Illegal? You tell me. Have you been to a real estate office where there are a few brokers and many agents? Don't the brokers recruit? Out of the fees for selling a house do the broker pay his/her agent 100% or do they split the commission so that the broker will have money to pay for the office, supplies, and other resources? Who trained that new agent in the beginning? Wasn't it the broker? If that agent never sold a house because of various reasons, who is to blame? Look at the statistics of the real estate industry and find out how many take the class but never get licensed and those who are licensed but never sold a house and those who never made it in business and quit. Who is to blame? The whole industry?

Look at the company that you're currently working. Do your supervisors make more than you? Do your managers make more than you? Do your executives make more than you? Do the company make money from your efforts? Will you ever make more than your supervisors, managers, executives, the company? Doesn't that sound like a...PYRAMID? But isn't that illegal? So how is it your company is making money off of all its employees and it's still in business? Look at the government...who makes the most? who makes the least?...Sounds familiar. I hope you get the idea. The sad thing is that you will probably never be compensated more than your superiors. That doesn't happen in a true recruiting business opporunity.

The bottom line is this is such a great country, full of opportunities and freedom. We're known throughout the world for our freedom. One of those freedom is the freedom of speech. We're probably the only country that can make fun of our presidents and get away with it. Our freedom of speech come through many media including, newspapers, magazines, radio, TV, and recently the Internet. We can get away with saying just about anything anybody. Just look and listen to the TV, radio, printed media, and now the Internet. What you hear, see, and read everyday in those media isn't necessarily true...just interesting. YOu must separate the facts from opinions and the truth from the lies.

As business people, we must learn to think fast and make quick decisions. Once we make those decisions we must stay the course. Go back and look at the traits of successful men and women and you will see they're also the same way. Lots of time we just need to use a little common sense. Don't let others scare you out of your dreams. If you look at/for problems that is what you will find/see. If you look for solutions, you will find solutions. If you're not sure, ask...don't ask negative people only but also ask positive people and people you have a vested in your successful. Only then make your decision. Just give your leaders and yourself a fair chance. Sure if you go back to your old life, old way, you lose nothing (or so you think)...but you also gain nothing and learned nothing.

There is no guarantees in life. As leaders they can only show us examples of success to prove to us that success can happen and has happened over and over again to people no different than us. And they can only show us the opportunity or the way that have made those success stories possible. The rest is up to us. Take it or leave it but leaders or not we are all human beings. There are no reasons to avoid or ignore each other. Most leaders care for us and don't know why we stop returning their phone calls and the don't know the reason why we stop pursuing the business. If they know, they can help but unfornately they do not. Most of the time we listen to rumors or unverifiable sources and kill ourselves out off the business.
Respond to this report!
What's this?

#26 Consumer Comment

MLM, one man gang, who cares.....

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

Im a non affiliate of any MLM, I own my own business and always looking for opportunities to expand...

I just came across this website and been reading some of your post regarding WFG. I think that MLM are all similar, no one is better than the other..the only different is, does it work and is it going to cost you a fortune to make any money!

In every company you will have your good and bad, your successful and unsucessful story. The truth of the matter is, we all show some kind of interest in these business because we all have one thing in mind MAKING MONEY!!

another thing that may throw some of you off is maybe the leadership. Not all company have good leadership. And not all leaders are perfect. Leadership comes from ambition, dedication, and a strong vision to succeed.

If you take a look at some so call leadership and he cant speak proper english, and you decide to quit, you are saying that you are not as good as the poor english speaker! You have to wonder why he is a leader? Compare yourself to that person and see what hes got that you dont?
When i was going to college at UC davis, i sat next to a severely disable guy in my upper division chemistry class, he cant even speak, nor walk, the only thing he can do is write sloppy with his right hand./ I looked at him and wonder why hes even in college or even made it to upper division chemistry!! Compare him to myself, im more capable of doing a lot better than he is, but when test times comes around...i earn a B and he got an A. You think about that and maybe you might find some inspiration for your success!

As for hating on WFG, i been to one of their presentations and yes, like everyone else say its a MLM. Its a people business, but its not a scam. You have to be in business to understand another business. And in business its all about people whether you like or not. No people no customer, no money!!!

there is no point in bashing the company, it provides a good product, gives people who have no idea of what kind of life insurance to buy choose from a variety (term, whole, vul, etc)..

If you work hard in the business, you will make some money, the only thing that i dislike about this business is the 1%. with all the money they are getting, at least bump it up to 2%!!
and yes its true about earning 1% of 100s people than earning 100% of 1 person.
simply put, 100% equals you have to make all the sales yourself!! 1% means even you dont make any sales, you still make money..

In any case, building a business is hard, take it from me 25yrs of into it. Some years you feel like quiting, and other years you feel like shooting yourself. But thats life, life is hard, nothing comes easy, if you are looking for easy way out...play the lottery!! You only need to make one right sale, and your set!

My final word is, if one business dont work for you, move on, find another...what ever is better, easier, and simpler to do to make you some money legally...take that route!!

Not everyone who graduate with a college degree is guranteed a good paying job, Nothing is guranteed, so dont think guranteed...think opportunity, think chance, think risks, take charge of your life!
Respond to this report!
What's this?

#27 UPDATE Employee

WFG being bad. It can be. But it can also be good if you are looking after your clients first

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

WFG can be good and bad, read on...

I would have to say that you are wrong when you said your comment about whole life being bad. I have been in the industry for about 4 years, never with priamerica, actually with a AAA rated company, and only 3 months with WFG and everything has a place. Participating whole life policies ussually have dividends that will pay the premiums after about year 17 to 21, depending on the dividend scale which is now lower. VUL does have some awesome tax advantages but is not for everyone. Also the internal expenses in UL's in general are ussually high. However, again it does have a place. Same with term. Another negative on the UL and VUL is it is to complex for the most part for most clients to understand and for most agents. It deals with the TAMRA, TEFRA, and DEFRA laws along with others.

The only problem that I have with WFG is it seems that, at least in my base shop, that the only product that they know about is VUL. Alot of companies out there were in class action lawsuits recently because UL and VUL policies from back in the 80's before the tax reform act of 87, were getting great interest rates. The products were underfunded and many tanked. Also when you look at the lost opportunity of the money in the subaccounts during periods of negative returns versus a whole life you can sometimes come out better with the whole life. Warren Buffet only assumes an overall ROI of aboutr 7%. I think showing VUL with 10 or 12 percent returns can be a bit misleading. Always remember that the bull walks up the stairs but falls out the window. Gains ussually occur slowly while losses come quick. To regain these gains, then takes time. Also, many new associates are not versed enough in financial planning, even with licenses, to be presenting a product like this; they should have some assistance. I think alot of new reps are also confusing VUL with an investment. It is not and that term is illegal in this context. VUL must be sold as insurance first. Another point, although you can't put as much in is a Roth IRA which is tax advantaged as well without all the cost built into it like a VUL. There are many options. You must be educated. My office only educates on recruiting and not once, other than my first training class which was on all things, VUL, have they discussed anything about financial planning. Things like buy sell agreements, Split dollar, employee benifits since ERISA came is now king, or even just the basics of different times to use whole, term, UL or VUL. I think to much emphasis is put on recruiting which goes against the company mission which is to help families achieve financial independence. I was in the army infantry for almost 6 years active duty and mission always comes first or everything else fails. More training needs to be placed on client needs, customer service, financial planning, networking with other professionals such as attorneys, CPA's, and other financial professionals. Nobody in my office had even heard of the organization called NAIFA which stands for National Association of Insurance and Financial Advisors of which I have been a member. I currently hold an LUTCF (Life Underwriter training counsel fellow), CLU (Chartered Life Underwriter), working on an accounting degree, along with getting close to completing the courses for CHFC (Chartered financial consultant), and then CFP (Certified Financial Planner. New associates need to be able to sustain their business with referalls.

Now, as for WFG being bad. It can be. But it can also be good if you are looking after your clients first. Sure recruiting is important to building any business but you must be devoted to the mission of help families first and then be able to teach your recruits what is right instead of what is easy.
Respond to this report!
What's this?

#28 UPDATE Employee

WFG being bad. It can be. But it can also be good if you are looking after your clients first

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

WFG can be good and bad, read on...

I would have to say that you are wrong when you said your comment about whole life being bad. I have been in the industry for about 4 years, never with priamerica, actually with a AAA rated company, and only 3 months with WFG and everything has a place. Participating whole life policies ussually have dividends that will pay the premiums after about year 17 to 21, depending on the dividend scale which is now lower. VUL does have some awesome tax advantages but is not for everyone. Also the internal expenses in UL's in general are ussually high. However, again it does have a place. Same with term. Another negative on the UL and VUL is it is to complex for the most part for most clients to understand and for most agents. It deals with the TAMRA, TEFRA, and DEFRA laws along with others.

The only problem that I have with WFG is it seems that, at least in my base shop, that the only product that they know about is VUL. Alot of companies out there were in class action lawsuits recently because UL and VUL policies from back in the 80's before the tax reform act of 87, were getting great interest rates. The products were underfunded and many tanked. Also when you look at the lost opportunity of the money in the subaccounts during periods of negative returns versus a whole life you can sometimes come out better with the whole life. Warren Buffet only assumes an overall ROI of aboutr 7%. I think showing VUL with 10 or 12 percent returns can be a bit misleading. Always remember that the bull walks up the stairs but falls out the window. Gains ussually occur slowly while losses come quick. To regain these gains, then takes time. Also, many new associates are not versed enough in financial planning, even with licenses, to be presenting a product like this; they should have some assistance. I think alot of new reps are also confusing VUL with an investment. It is not and that term is illegal in this context. VUL must be sold as insurance first. Another point, although you can't put as much in is a Roth IRA which is tax advantaged as well without all the cost built into it like a VUL. There are many options. You must be educated. My office only educates on recruiting and not once, other than my first training class which was on all things, VUL, have they discussed anything about financial planning. Things like buy sell agreements, Split dollar, employee benifits since ERISA came is now king, or even just the basics of different times to use whole, term, UL or VUL. I think to much emphasis is put on recruiting which goes against the company mission which is to help families achieve financial independence. I was in the army infantry for almost 6 years active duty and mission always comes first or everything else fails. More training needs to be placed on client needs, customer service, financial planning, networking with other professionals such as attorneys, CPA's, and other financial professionals. Nobody in my office had even heard of the organization called NAIFA which stands for National Association of Insurance and Financial Advisors of which I have been a member. I currently hold an LUTCF (Life Underwriter training counsel fellow), CLU (Chartered Life Underwriter), working on an accounting degree, along with getting close to completing the courses for CHFC (Chartered financial consultant), and then CFP (Certified Financial Planner. New associates need to be able to sustain their business with referalls.

Now, as for WFG being bad. It can be. But it can also be good if you are looking after your clients first. Sure recruiting is important to building any business but you must be devoted to the mission of help families first and then be able to teach your recruits what is right instead of what is easy.
Respond to this report!
What's this?

#29 UPDATE Employee

WFG being bad. It can be. But it can also be good if you are looking after your clients first

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

WFG can be good and bad, read on...

I would have to say that you are wrong when you said your comment about whole life being bad. I have been in the industry for about 4 years, never with priamerica, actually with a AAA rated company, and only 3 months with WFG and everything has a place. Participating whole life policies ussually have dividends that will pay the premiums after about year 17 to 21, depending on the dividend scale which is now lower. VUL does have some awesome tax advantages but is not for everyone. Also the internal expenses in UL's in general are ussually high. However, again it does have a place. Same with term. Another negative on the UL and VUL is it is to complex for the most part for most clients to understand and for most agents. It deals with the TAMRA, TEFRA, and DEFRA laws along with others.

The only problem that I have with WFG is it seems that, at least in my base shop, that the only product that they know about is VUL. Alot of companies out there were in class action lawsuits recently because UL and VUL policies from back in the 80's before the tax reform act of 87, were getting great interest rates. The products were underfunded and many tanked. Also when you look at the lost opportunity of the money in the subaccounts during periods of negative returns versus a whole life you can sometimes come out better with the whole life. Warren Buffet only assumes an overall ROI of aboutr 7%. I think showing VUL with 10 or 12 percent returns can be a bit misleading. Always remember that the bull walks up the stairs but falls out the window. Gains ussually occur slowly while losses come quick. To regain these gains, then takes time. Also, many new associates are not versed enough in financial planning, even with licenses, to be presenting a product like this; they should have some assistance. I think alot of new reps are also confusing VUL with an investment. It is not and that term is illegal in this context. VUL must be sold as insurance first. Another point, although you can't put as much in is a Roth IRA which is tax advantaged as well without all the cost built into it like a VUL. There are many options. You must be educated. My office only educates on recruiting and not once, other than my first training class which was on all things, VUL, have they discussed anything about financial planning. Things like buy sell agreements, Split dollar, employee benifits since ERISA came is now king, or even just the basics of different times to use whole, term, UL or VUL. I think to much emphasis is put on recruiting which goes against the company mission which is to help families achieve financial independence. I was in the army infantry for almost 6 years active duty and mission always comes first or everything else fails. More training needs to be placed on client needs, customer service, financial planning, networking with other professionals such as attorneys, CPA's, and other financial professionals. Nobody in my office had even heard of the organization called NAIFA which stands for National Association of Insurance and Financial Advisors of which I have been a member. I currently hold an LUTCF (Life Underwriter training counsel fellow), CLU (Chartered Life Underwriter), working on an accounting degree, along with getting close to completing the courses for CHFC (Chartered financial consultant), and then CFP (Certified Financial Planner. New associates need to be able to sustain their business with referalls.

Now, as for WFG being bad. It can be. But it can also be good if you are looking after your clients first. Sure recruiting is important to building any business but you must be devoted to the mission of help families first and then be able to teach your recruits what is right instead of what is easy.
Respond to this report!
What's this?

#30 UPDATE Employee

WFG being bad. It can be. But it can also be good if you are looking after your clients first

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

WFG can be good and bad, read on...

I would have to say that you are wrong when you said your comment about whole life being bad. I have been in the industry for about 4 years, never with priamerica, actually with a AAA rated company, and only 3 months with WFG and everything has a place. Participating whole life policies ussually have dividends that will pay the premiums after about year 17 to 21, depending on the dividend scale which is now lower. VUL does have some awesome tax advantages but is not for everyone. Also the internal expenses in UL's in general are ussually high. However, again it does have a place. Same with term. Another negative on the UL and VUL is it is to complex for the most part for most clients to understand and for most agents. It deals with the TAMRA, TEFRA, and DEFRA laws along with others.

The only problem that I have with WFG is it seems that, at least in my base shop, that the only product that they know about is VUL. Alot of companies out there were in class action lawsuits recently because UL and VUL policies from back in the 80's before the tax reform act of 87, were getting great interest rates. The products were underfunded and many tanked. Also when you look at the lost opportunity of the money in the subaccounts during periods of negative returns versus a whole life you can sometimes come out better with the whole life. Warren Buffet only assumes an overall ROI of aboutr 7%. I think showing VUL with 10 or 12 percent returns can be a bit misleading. Always remember that the bull walks up the stairs but falls out the window. Gains ussually occur slowly while losses come quick. To regain these gains, then takes time. Also, many new associates are not versed enough in financial planning, even with licenses, to be presenting a product like this; they should have some assistance. I think alot of new reps are also confusing VUL with an investment. It is not and that term is illegal in this context. VUL must be sold as insurance first. Another point, although you can't put as much in is a Roth IRA which is tax advantaged as well without all the cost built into it like a VUL. There are many options. You must be educated. My office only educates on recruiting and not once, other than my first training class which was on all things, VUL, have they discussed anything about financial planning. Things like buy sell agreements, Split dollar, employee benifits since ERISA came is now king, or even just the basics of different times to use whole, term, UL or VUL. I think to much emphasis is put on recruiting which goes against the company mission which is to help families achieve financial independence. I was in the army infantry for almost 6 years active duty and mission always comes first or everything else fails. More training needs to be placed on client needs, customer service, financial planning, networking with other professionals such as attorneys, CPA's, and other financial professionals. Nobody in my office had even heard of the organization called NAIFA which stands for National Association of Insurance and Financial Advisors of which I have been a member. I currently hold an LUTCF (Life Underwriter training counsel fellow), CLU (Chartered Life Underwriter), working on an accounting degree, along with getting close to completing the courses for CHFC (Chartered financial consultant), and then CFP (Certified Financial Planner. New associates need to be able to sustain their business with referalls.

Now, as for WFG being bad. It can be. But it can also be good if you are looking after your clients first. Sure recruiting is important to building any business but you must be devoted to the mission of help families first and then be able to teach your recruits what is right instead of what is easy.
Respond to this report!
What's this?

#31 UPDATE EX-employee responds

HEY Jonathan. WAKE UP ..You think that WFG is so unique, but I hate to break it to you, it's not.

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

This response is for the guy who said "enough is enough". Yeah your right buddy, Mcdonalds and all those companies do have great business models, but what you have to realize about WFG is that it is the same as any other MLM company. You think that WFG is so unique, but I hate to break it to you, it's not. Go to an AMWAY, Mary-kate, primamerica, USANA meeting or any other company with a model like WFG. They all work the same, they all have great products, they all have success stories, they all say they have a great system in place and "all you need to do is plug yourself in". I'm not saying anything is wrong with these companies, people just don't succeed at them. I'm just saying don't think that WFG is the only opportunity out there. I made over 200,000 with them. Yeah it was fun, yeah I made good money, yeah I was successful but one thing pulled me away. The bad reputation. That is what I am saying here, most people fail at these business's so they get a bad reputation. It was so hard to see client's and have them laugh or rebuttal when I said WMA or WFG. So I guess what I am saying now is that I actually left for a bigger better opportunity. I am making over 5,000 a week and I am a lot happier and have more time and freedom than I did with WFG. So Jonathan, I'm here to tell you, you are brainwashed. Let me know when you have earned your 100,000 ring like I did. After that, calculate how much money and time you had to put into it to get there. Then figure out how many friends and family you had to bug the hell out of to get them on board. Get my point? Have fun at your "BPM"!! LOL!!
Respond to this report!
What's this?

#32 UPDATE EX-employee responds

Johnathan - you make my point ..superior professionalism and intelect of all who are employed by this company.

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

To all who are still teetering on wheather to get involved with this company should see by Mr. Johnathan's reaction on the superior professionalism and intelect of all who are employed by this company.
Again...I emphasise...RUN AWAY!!!
When facts are presented against someone, and that someone has nothing to stand on in retort, they generally resort to name calling.
Thank you Mr. Johnathan for proving my point.
Don't give WFG the time of day.
Respond to this report!
What's this?

#33 UPDATE Employee

Enough is Enough

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

Well as you can see by now, enough has been written about this company for most grown adults to make their own decision. The biggest take away I can get from all this is that there is two ways to look at every situation. Some choose to look at it positively and move forward. As a result you're either successful or unsuccessful, but at least you tried and had a shot. Some choose to look at things negatively and always thinking they're being taken for a scam. Those people have only one result, and that is they'll never succeed. How are you going to succeed if you always look at things from a conspiring point of view.

To the goof ball from Utah that brags about making 40% more at other brokerages, you're right about that, but the whole idea is that you can either make 100% of your own efforts, or you can make 1% off the efforts of 100 people. Those who choose 100% of their own efforts usually get tired and burned out from the constant marketing and usually find it harder to maintain business in down markets. Case and point is in the NASD license temination figures for 2001 and 2002. The highest termination rates in history. WFG actually grew in licensed agents during that time. Some people prefer to just work on their own and have no desire to help others achieve the goal of having a successful business. If that's your path, then the best thing would possibly be to go to another broker dealer, but then you'd miss out on the opportunity of having a bunch of business handed to you as a field trainer, and you're back to square one of having to do all the marketing yourself week after week, month after month, year after year.

As for the success rate being 1%, that's a bunch of crap too. Our success rate is much higher than any sales position. To the moron from Virginia, have you ever bothered to look at the success rates of those who try to acquire their real estate licenses? It's actually lower than 1%. Over 99% of people who get their real estate license aren't doing real estate after just 2 years. It's not this company that doesn't work, it's people that don't work. People, for the most part, have terrible work ethic. They want everything quick without any work in return. A majority of people don't know how to schedule their time or keep their word with people which is important regardless of what kind of business you're starting. But it always sounds better to tell your friends (if you have any) that the company was a scam, or a pyramid rather than saying I was just a lazy, irresponsible person who was unwilling to change.

This company has a system that works and a success philosophy that transcends industries. That philosophy is; The one with the most outlets wins. Wal-Mart understands it. McDonalds understands it. Century 21 understands it. Broke, miserable people who have nothing better to do with their time than to go onto a website and talk negatively about other people don't understand this philosophy, which is why in five or ten years, they'll still be on a website talking about other people rather than having people talk about them. And to say that you've been brain washed just confirms that you are a grown adult who openly admits that they can't be held accountable for their own thinking. Saying you were brain washed to me is like another way of saying that you're too weak to think for yourself. Grow up.
Respond to this report!
What's this?

#34 UPDATE EX-employee responds

The above respondent (Aaron) is absolutely correct, ..urge to get out of there and run

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

I am a former associate of this company. At the time of the initial "brainwashing" process I was working full time at another company. I have a degree in Finance and have always wanted to be in a position of Financial Planning for people who don't have the access to financial independence that those in upper incomes do. I was having a conversation with a woman in a mall when she mentioned she was starting her own business in financial planning and was looking for full-time or part-time employees. Wow!! What an opportunity. I can continue my full time job for a couple more years until I get comfortable with a new career. So, I went to one of her presentations. Yes, they did talk about helping others achieve financial independence...very briefly. Most of the presentation was recruiting. It was all about recruiting. Well, I thought that was just an prospective employee orientation seminar. I bought into the program thinking I would be able to help others. As I went to other seminars and local meetings I discovered exactly what this company is about. It's all hype. Everything is hype. I felt like I was at one of those motivational speaker clubs. Hype, hype, hype.
First of all, the company is legal and legit. But that doesn't mean squat these days. I noticed the average education level of the local employees was high school. That was clue number 1. Then I found that the focus of gaining clients is not in them just buying the products but major emphasis is placed on recruiting them. Clue number 2. Then comes the presentation of employee payout. It is in it's purest form and simple definition a "Pyramid scheme". Any "real" company that is involved in financial planning does not have the business structure of WFG.
Personally, I don't think they are predators or con artists. But, what they do offer to entice you to come is not the same as what they present. Is the company deceitful? Yes, I believe so. Does it have a going concern? Yes. But so is the lottery for those thousands of gullible people who spend countless dollars for that 1 in a couple million chance to get rich over night.

If you are on a very tight budget, you are their very best friend. They will get you to pay out over $400.00 with a promise that you will be financially free of your debt woes in no time at all.

The only regret I have is that I didn't follow my gut instinct at the start when I came in dressed for an "interview" with a business company and the interviewer came in dressed like he was going to a bowling match.

If you buy in to this company, well that's your prerogative. But if during your initial sessions the testimonials of the company's success rate give you a driving urge to get out of there and run...DO IT.
Respond to this report!
What's this?

#35 UPDATE EX-employee responds

READ THIS ..fact is, too many people have complained about WFG for so long

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

The fact is, too many people have complained about WFG for so long.

The majority of any website containing information on WFG is always negative. Do your own research and you'll find out how bad WFG really is.

I worked for them for 2 years, I was a 100,000 ring earner, but the fact is, I didn't like spending 60,000 year to make 100,000 a year. The compensation of WFG is about the worst you can get.

If you sold a 50 dollar a month VUL in WFG as an associate you got around 230 bucks. Not bad, but I get 720 through my broker because I don't have to share commision with the guy above me, and the guy who recruited him and the girl who recruited them.... etc etc, get my point?

Check the other broker-dealers out, almost all of them are willing to pay for your licenses and you get about 40-60% more commision.

My aunt works at WFG headquarters and she files everyone who comes through the company. She sent me a fax and 85% of the people who pay the 100 dollars, don't get there licenses, of the 15% who get them, 90% leave within the first year and and half of the remaining 10% leave in year 2. hmmmm, you don't have to be a rocket scientist to figure it out.

So that's about 1% success rate of the people who pay the 100 dollars. Don't be fooled. Do your homework.
Respond to this report!
What's this?

#36 Consumer Comment

WFG recruitment process of recent college grads

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

I was called by an associate from World Financial Group the beginning of 2003. I was a recent college grad at the time, and while my Bachelor's was in Computer Science, the associate claimed that I could be a Financial Branch Manager with no prior expierience. The interview was scheduled the following day at 5:30PM.

When I attended the metting, there was a number of different names on the door of their suite: Aegon, World Financial Group, World Marketing Alliance, Focused Tax Solutions, Brookfield Financial Services (this office was in Brookfield, WI). I asked the secretary at the front desk why they had so many names and she said that all of the companies listed on the door were owned and funded by the Aegon corporation.

The presentation was run by two people, one who claimed to be an ex-accountant, the second who claimed to be an ex-pilot from the navy. Both said that they left their jobs and joined World Financial Group making $150,000 their first years, and $500,000 after 4 years. As they talked more, I couldn't see what product they were trying to sell. They mentioned that their main service was giving out free financial advice to family, friends, and anyone who asked. All costs for giving out their free services were paid for entirely by the Aegon corporation. I couldn't see where they were making any profit, but those who attended were more interested on how they could join and start making the money themselves. There were a number of people sitting among the attendees who kept saying things like "What a wonderful opportunity for me and my family" and sounded like they may have been carefully placed actors.

After the presentation ended, they broke up into small groups, each of which met in a seperate board room. The room I was in had three of us, me, a student, and a man who kept drinking out of a 711 slurpee cup. The student mentioned that he was told there was a Network Administrator position he was applying for, while the other man said that he was approached at a local gas station inviting him to a presentation on how to make large amounts of money with almost no investment. The recruitor informed us that he had three openings for financial advisor. When asked about the other job openings, he denied their existance and reminded us how much money we could make.

There was an initial cost of $150 for background checking followed by $1500 for the first month of training. At this point I tried to leave the room and the recruitor grabbed my arm and yelled at me, telling me to sit down and shut up. I left the room anyways and was approached by another recruitor, but I left. The first recruitor chased me into the parking lot and apologized. He invited me for coffee at a local shop down the road to discuss things further but I ignored him and left.

For the following 6 months I received calls from different recruitors for World Financial Group asking me to attend another presentation. I ignored them and they finally stopped calling me.

I've since heard of many recent college grads being called, and many of them falling into it and investing large sums of cash with no return. Many were led to believe that they could pay off their college loans quickly by joining them.

WFG is not the only company doing this type of work, as I have been called by subsidaries of big name companies who offerred the same types of positions/services and had similar recruitment systems. So far I have been contacted by Citi Services (part of Citigroup), Primerica, and I still get weekly emails from American Express Financial Services. Each wants me to be a tax advisor/financial manager with no experience necessary, and request I attend a presentation held after normal business hours end.
Respond to this report!
What's this?

#37 Consumer Suggestion

Do Your Homework...before you invest time & money

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

Prior-World Marketing Alliance, now-World Financial Group...do a search: Cunsumer Reports, Money, More Money, Forbes, Fortune, Time, Newsweek, New York Times, Wall Street Journal, Security Exchange Commission, National Association of Security Dealers. You will find, as I have, their main life insurance product is variable universal life insurance...which is very expensive, having many different charges taken off the top, before your money-if any is left, gets invested in your choice of funds. If you invest in a bank-your money is there at the end of the day. A neighbor of mine, I found has invested (WFG/in 2 vul policies) over $15,000 over 33 month peroid...$500/month. His cash value he checked is @ $5,000, & his surrender charges are over $8,000...I told him to read up on investments...Life insurance is no place to invest...go with your 401K plan at work...and beef up your group term at work. No one wants to lose $10,000 of their hard earned money...just do your homework...so your not ripped off!!!
Respond to this report!
What's this?

#38 UPDATE Employee

WFG has Two Divisions

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

World Financial Group has two divisions. The world division and the financial division. These divisions have the same policies and procedures, but the leadership is very different.

Unfortunately, there is no way to differentiate between the two groups unless you ask. Neither group is better than the other. They are just different.

This is not and never has been an illegal pyramid. Most often when people say "illegal pyramid" they are simply ignorant to the issues and facts.

The branch office I work out of is clean as a whistle. We do amazing things for clients. There is no question in my mind or the minds of my clients. I have never had a dissatisfied client. Either we can help them, or we won't even try. It has to be win-win.

This is NOT get-rich-quick. This is not an easy business. It requires work. I have co-workers who never recruit and who make six-figure incomes purely on personal sales. Our products are good. Our associates can do great things!

Typically, those who do not last in the business, still learn a lot. Often, the ones who quit are good folks who have difficulty following the program because of preconceived notions and insecurities. We all have these notions and insecurities, but the successful people are able to conquer their fears.

You don't have to be a dynamic salesman. You just have to be willing to work and learn. You also have to be willing to submit to take tests to get licenses. This can be very tough.

This is a real business and it is reputable.
Respond to this report!
What's this?

#39 UPDATE EX-employee responds

Good company but has unattractive leadership

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

I was one time WFG's associate. Many like others, I went to take courses to take tests and lisences to sell their products.

But I want to address one important issue. WFG is a marketing company, representing various products from many different financial/insurance parent companies. These large companies who delegate their marketing responsibilities to WFG are overall very happy, and rely on WFG to sell their products, and dont require their clients to necessarily buy anything that the WFG sells. Indeed, WFG represents reputable companies like AEGON, Western Life Reserve, Zurich Insurance and many others. These products and its ratings are easily accessible through public security dealing ratings and WFG don't ever lie about it.

But now, when it comes to marketing the products as an associate provides a completely different dilemma. When I was an associate, which lasted for about 2 months or so, I faithfully attended training and saved money to go to conventions. Unfortunately, one training that I attended their April 2003 10/10 San Diego was really redundant and once was enough to turn me off to further pursue my career. Many top leaders in the company spoke little English or with very thick accent and made it difficult for me to not only miss out on the necessary information, but in addition, I saw them scolding my upline leader for her lack of business flowing from our unit, and yes, in front of all her downlines. It just didnt seem professional enough to me and that was not something I could ever recommend to my friends to attend, so I lost passion for the business. Another reaon is the leaders never admit that this is a multi-level marketing. My question still continues to be the same Why? There is nothing wrong in the network marketing system itself. Neither do I believe that the WFG takes uses its system to manipulate their people into scam, but they should insist that this is a network marketing and dont deny it, since such marketing system has proven to work and denying its principle just reverses its effect.

Companys business is legit and I give credit to the system. Their compensation is strong if you ever work hard to attain it but I know other MLM companies that has better plans. My intention is not to pursuade anyone from joining the WFG. As a matter of fact, people in the business seem happy so my attitude is to let them be, but just do your home work. And Please teach the leaders to learn how to speak better English. If WFG continues to stand for another 20 years and all their leadership changes to include more American born generations, it will attract more business.

In conclusion, I am a proud client of WFG who holds several policy holders, but since have been involved in another network marketing company that helped my wife and I have really done well and proudly established our financial future. Do your investigation and maybe spend a few months in the company like I did. Their education on investment is wonderful and their products can really help so many people.
Respond to this report!
What's this?

#40 Consumer Comment

I went to a WMA/WFG recruiting mtg. in San Diego

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

A friend of mine was buying heavily into WMA. He had paid the "screening" fee and was enroute to take his series 7 test to become a financial advisor. It sounded so good I said what the heck? What I saw and heard at this meeting was unbelievable. There was a speaker for the new recruits. He was someone who had found financial freedom through WMA. He had a regular job during the day, but by night he was finacial advisor man. A true friend to all those newly laid off who have a fat 401k waiting to get rolled over. I do not work in the finance industry and are by no means an expert. However, with the info one can obtain from the NASDAQ website or even the yahoo financial website, my guess is that this organization is probably legit only by means of a skilled team of attorneys and a book full of loopholes. By the way, they were fined by NASDAQ at one point. I was promised a six figure salary just working part time. All I had to do was hand them a list of all my friends and family with money. To make a long story not so long, I had literally had to slap my friend silly to wake him up. The meeting was similar to a description of an AMWAY meeting I read about on this website. Against my advice, my friend bought into it and spent way too much time making someone else rich. He's now a bit wiser and a lot more bitter. While the WMA thing was going on, he missed the opportunity to help some Nigerian guy take 21 million dollars out of Nigeria!

Lesson Learned:

IF IT SOUNDS TOO GOOD TO BE TRUE...
Respond to this report!
What's this?

#41 UPDATE Employee

This makes no sense!

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

When did financial services become a pyramid? I'm a new Associate of WFG and at first, I was very skepticle about the company. We don't make money from recruiting. We don't sell to people that can't afford to buy. We just share financial education to those who is in need of it and we build a long term relationship with our clients. I have been in the MLM business before and WFG comes nothing close to a MLM company. There is always a bad sales rep in every company and it's that person who is giving that company a bad reputation. Life goes on!
Respond to this report!
What's this?

#42 UPDATE Employee

NO SCAM or Rip-off at WFG

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

I think you needed to do a little more homework. There is nothing shady here. No get-rich-quick. It is sales. Sales are not for everyone. I thought sales weren't my bag either. I am an engineer. But this is easy. I don't always make sales, but I've always left the consumers better off. This is a feel good business.

This is work. It isn't easy, but the concept is easy. The NASD strictly regulates this industry and there are severe penalties for even the slightest lapse of ethics. Frankly, our internal compliance auditing process is stricter than the NASD or SEC's. If you are looking for a scam, look elsewhere ... it isn't at WFG.

That being said, I won't say that unscrupulous registered reps aren't out there. My question is, why risk it? The risks of dishonesty in this business are sky-high and the rewards are severely limited. Lose your licenses and your career is over forever. No second chances.

And there is virtually nothing to gain by being dishonest in this business.
Respond to this report!
What's this?

#43 UPDATE Employee

NO SCAM or Rip-off at WFG

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

I think you needed to do a little more homework. There is nothing shady here. No get-rich-quick. It is sales. Sales are not for everyone. I thought sales weren't my bag either. I am an engineer. But this is easy. I don't always make sales, but I've always left the consumers better off. This is a feel good business.

This is work. It isn't easy, but the concept is easy. The NASD strictly regulates this industry and there are severe penalties for even the slightest lapse of ethics. Frankly, our internal compliance auditing process is stricter than the NASD or SEC's. If you are looking for a scam, look elsewhere ... it isn't at WFG.

That being said, I won't say that unscrupulous registered reps aren't out there. My question is, why risk it? The risks of dishonesty in this business are sky-high and the rewards are severely limited. Lose your licenses and your career is over forever. No second chances.

And there is virtually nothing to gain by being dishonest in this business.
Respond to this report!
What's this?

#44 UPDATE Employee

DO YOUR HOMEWORK

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

TO THE EDITORS & GILBERT

I'm not a lawyer, but a very curious and concerned Associate of WFG. I assure you that WFG is legit. I've been to the corporate office, I use the products, I've helped families through WFG. All you have to do is check with SEC and your state's Insurance Code or Department of Insurance for confirmation of WFG's credibility. WFG is traded on the stock market. If they were not legit, the SEC would have said something by now. WFG is HIGHLY regulate and watched by the SEC.

I agree with the Assoicate names Chris (above) whole heartedly in his rebuttal. I want to commend his efforts to speak for our awesome company. I couldn't have say it better.

WFG's parent company, AEGON is a $240 Billion global powerhouse that is traded on 6 stock exchanges. I don't believe AEGON would associate themselves with a sub-standard company, muchless a scam company. AEGON has watched WFG for over 10 years before they merged with WFG.

My challenge to Gilber is this - DO YOUR HOMEWORK! Did you decide that WFG was a rip-off, before or after you found out what it takes to be successful in our business?
Respond to this report!
What's this?

#45 UPDATE Employee

Still Looking For a Credible Source

AUTHOR: Chris - ()

I've been involved with this company for some time now and I've pretty much heard everything there is to say about it. After reading this so-called "report", I had to laugh. Then I realized though that many people taking a look at our company for the first time think that the opportunity is too good to be true and will always, as a natural response, look for something that will confirm these feelings. There are all kinds of deals or schemes that push a kind of "get rich quick" type of opportunity and no one wants to be "that guy" who falls for it. Most people would rather continue to rot in their routine driven lives than be taken by a scheme. That's understandable. I can tell whom ever is looking for a way to get rich quick, that World Financial Group is not the way to go. When we sit with our associates, at least the ones we feel are serious, we go over their one year, five year, and ten year business plans. Granted, each office is as different from each other as the individuals running them, although they shouldn't be. The bottom line is we do what we do because we truly believe what we are doing for people and families is the right thing. Unfortunately, just as in any industry or company, you're going to have certain individuals who go against the grain and could potentially ruin the reputation of the whole company. From my experiences, though, I've worked with people whom have started charities as well as schools for kids who are impoverished, but those are the stories people don't want to hear. They always want the negative stuff. I'm sure if that's what you'll want to find about this company, then you'll find it. If you're going to look for negative feedback on "my company" though, go to a regulated website like the official SEC website, not some rinky dink website that anyone can come on and say whatever they want without any recourse and not to mention, with terrible grammatical errors. At least you know that what you read on those two websites are absolutely true. In the end, it is up to the person to make the decision on their own. My suggestion, is that it is definitely worth looking into. It's not for everyone, but at least you'll know for sure.
Respond to this report!
What's this?

#46 UPDATE Employee

Need more specific information

AUTHOR: Isaiah - ()

What were the specific results of the your investigation of WFG? In what specific ways was WFG deceptive or illegal? Do you have actual reports of families not being helped or serviced? How long were you with WFG?

Respond to this report!
What's this?

#47 UPDATE Employee

Need more specific information

AUTHOR: Isaiah - ()

What were the specific results of the your investigation of WFG? In what specific ways was WFG deceptive or illegal? Do you have actual reports of families not being helped or serviced? How long were you with WFG?

Respond to this report!
What's this?

#48 UPDATE Employee

Need more specific information

AUTHOR: Isaiah - ()

What were the specific results of the your investigation of WFG? In what specific ways was WFG deceptive or illegal? Do you have actual reports of families not being helped or serviced? How long were you with WFG?

Respond to this report!
What's this?

#49 UPDATE Employee

Need more specific information

AUTHOR: Isaiah - ()

What were the specific results of the your investigation of WFG? In what specific ways was WFG deceptive or illegal? Do you have actual reports of families not being helped or serviced? How long were you with WFG?

Respond to this report!
What's this?
Report & Rebuttal
Respond to this report!
What's this?
Also a victim?
What's this?
Repair Your Reputation!
What's this?
X