• Report: #711564

Complaint Review: Federal Financial Group Irvine Ca

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  • Submitted: Tue, March 29, 2011
  • Updated: Sun, March 04, 2012

  • Reported By: Chuck — Irvine California United States of America
Federal Financial Group Irvine Ca
2102 Business Center Drive 155 Irvine, California United States of America

Federal Financial Group Irvine Ca Group Insurance Agents Beware. Scam! Irvine, California

*General Comment: Federal Financial Group Allegations of Abuse.

*REBUTTAL Owner of company: Lost Cause

*Consumer Comment: U r still wrong, as are all FFG twerps

*UPDATE EX-employee responds: Where is " Robert from Irvine " when we could use his Irvine " knowledge "?

*UPDATE Employee: A scam? really?

*Consumer Comment: EP, you are wrong; FFG is a poor experience

*UPDATE Employee: Federal Financial Group LLC is a great company

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Before you consider working for this company... Beware. YOU HAVE TO SPLIT YOUR COMMISSIONS IF YOU WANT TO BE TRAINED IN THE PRODUCT. There are many hidden costs to working here and the training is horrible. They say there is free training, but the only way to get help is to split your commission. They charge you for every little item used, even voice mail! And try to get someone to help you! Manager Dan McKenzie is abusive, insulting, and if you ask a question you will be mocked and belittled in front of your co workers. DO NOT WORK HERE!

This report was posted on Ripoff Report on 03/29/2011 01:53 PM and is a permanent record located here: http://www.ripoffreport.com/r/Federal-Financial-Group-Irvine-Ca/Irvine-California-92612/Federal-Financial-Group-Irvine-Ca-Group-Insurance-Agents-Beware-Scam-Irvine-California-711564. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year.

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REBUTTALS & REPLIES:
0Author 6Consumer 1Employee/Owner
Updates & Rebuttals

#1 General Comment

Federal Financial Group Allegations of Abuse.

AUTHOR: Of Counsel - ()

Greetings:

I am a member of the Bar Association and have extensive inside knowledge of the inner workings of Federal Financial Group, LLC, specifically with regard to their business practices here in California. Please understand that I am NOT their corporate counsel, nor do I represent Federal Financial Group, LLC in ANY legal capacity. Notwithstanding, I have assisted many Federal Financial Group, LLC clients over the past 18 months when, they were referred to our firm for a multitude of legal services; mostly advanced estate planning, business planning and retirement planning advice and counsel.

 

During the past 18 months I have had the opportunity to meet multiple times, the company CEO, Mr. Rick Dixon, and several other senior company officers from the FFG home office in Utah. I have also had the pleasure of working with the Northern California Regional and Area Directors, along with a multitude of their sales agents. Prior to even agreeing to allowing this company to refer clients to our firm, we conducted several months of our own professional due dilligence regarding their business practices, financial stability, and general business reputations. Having been in professional practice for over 35 years and nearing retirement personally, I wouldn't even consider risking the reputation of our firm, or myself personally, simply in order to assist a group of unethical, rogue, or non-professional insurance agents or financial advisors, all in order to sell financial products that we believed to be in ANY way detrimental or inappropriate to their clients.

 

Presently, myself and three other members of our firm, work almost exclusively in providing legal and professional services to clients of Federal Financial Group, LLC throughout California. I must clearly state that after having worked with both their agents and management team, I find them to be substantially more qualified from a professional standpoint, more ethical, better trained, and far more consumer oriented, than ANY other group of financial advisors that I have worked with during my 35 year career. I have worked as "in house counsel" and as an "officer" for some of the nation's leading financial services companies during my 35 year career and my current professional relationship with FFG, their agents and their managers has been outstanding.

 

We fully understand the recruiting, training, management, advancement and consumer related sales policies practiced by this company and find those to be head and shoulders above the industry norms. I can also to a limited degree understand why some prospective insurance agents might take exception to those policies and company practices. However, those individuals who leave FFG with a negitive impression generally appear to be folks that simply refuse to embrace the well proven training and legally compliant sales system that the company insists upon. In most cases they appear to be people who are in dire financial shape when they come to FFG and need IMMEDIATE cash flow, or people who simply are refusing to put in the time, effort and commitment that is needed to learn a new profession; one that truly offers the consumers that they serve an outstanding financial opportunity to secure their own retirement and their family's financial security.

 

In closing, I sure wish that an FFG agent or manager would have made contact with my wife and I when we were in our 30's or 40's, as I would have been able to enjoy a high six figure retirement years ago, as opposed to being forced to still practice at this point in my life. In 18 months of assisting the clients that FFG has referred to our firm, I have yet to hear a single complaint from any consumer that the professional agents and managers from FFG have referred to us. If you elect to listen to the ramblings of a few misguided individuals who wish to defame FFG and their services, that loss is your own, as I fully believe in what this company is doing for the consumers that they serve and the agents and managers who are fortunate enough to see the full opportunity available to them and ultimately become affilliated with this outstanding company.

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#2 REBUTTAL Owner of company

Lost Cause

AUTHOR: Russjones - (United States of America)

WFGKiller, not saying it's impossible for there to be a bad agent representing FFG, but there are bad registered reps out there too. I've cleaned up some of their messes. What's shocking is your willingness to paint all FFG agents with a broad brush. Good, hard working agents making an honest living while keeping their clients best interests at heart. The fervor in which you attack the company diminishes you.
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#3 Consumer Comment

U r still wrong, as are all FFG twerps

AUTHOR: WFGkiller - (United States of America)

I don't have a problem with a good permanent policy from a great carrier.  Really, I don't.  I show a lot of it and own a lot of it.  What I can't stand are the thieving lying FFG pricks who show underfunded illustrations to older insureds with inferior underwriting classes, plus what about doing a more holistic job for the client??  Oh, yeah, forgot. . . . . the FFG doink just has a life license and barely can handle that realm of knowledge.  Evil spawn of tricky Ricky: evil spawn of Hubert Humphrey.
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#4 UPDATE EX-employee responds

Where is " Robert from Irvine " when we could use his Irvine " knowledge "?

AUTHOR: Robert - (USA)

Nothing fro the Robert " from Irvine ". ( cough, cough ) , made in Central Florida comments???? Dummy
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#5 UPDATE Employee

A scam? really?

AUTHOR: Russjones - (United States of America)

Let's see; I approach a business owner who has no retirement savings. He really has no clue how to begin the process. If I deem it suitable, I set him up with a nice affordable cash value life insurance policy. The death benefit protects his family. He builds wealth safely and predictably within the plan. He can borrow against the equity in the policy to help his kids through college, buy a car, or purchase buiness equipment. He pays himself back and earns interest that would otherwise go to a bank or credit card company. Over the years he grows his nest egg at a competitive rate of return and never loses a dime.

When he's ready to retire he pulls yearly income out of his policy in the form of a policy loan. He does not worry about paying taxes, becasue loans are not income. He does not worry about paying the loan back because they are  secured by the death benefit. If he checks out of this life early, his family could quite possibly receive 2 or 3 times the equity in the policy in the form of a tax free death benefit.
This, ladies and gentleman, is what WFGKiller says a "tax free retirement scam". The purest form of ignorance is to reject something you know nothing about.
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#6 Consumer Comment

EP, you are wrong; FFG is a poor experience

AUTHOR: WFGkiller - (United States of America)

Sorry, EP, even with the extensive and elaborate explanation of your supposed methods at FFG, they are a bad group whose ideas and ambitions are predicated upon an even worse history/pattern.  The FFG is based upon the one-note shenanigans of Rick Dixon, who is an evil spawn and devoted adherent of the famous World Fraud (financial) Group, which he left 5-7 years ago.  He was direct  to all the white-collar criminals upline at WFG who dared to call themselves financial advisors (don't misunderstand: there ARE some good folks at WFG; they just go unrecognized because they won't run the multi-level scam WFG is founded upon).  McKensie was one of the very worst in the WFG org.  I could go on and on about his adventures.  So, I can only imagine how unbearable he must be now that he has left Utah and gone on to more suckers in Orange County, CA.  There are now others of similar repute now packed into the FFG nightmare (C. Nielson, others).  I spend at least one case study per month showing our reps how to salvage at least one FFG case in which an unsuspecting business owner was sifted out and saddled with their "tax-free" retirement scam.  And Tom Pugmire of the "independant" division is pulling off even worse scams in the senior retirement market.
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#7 UPDATE Employee

Federal Financial Group LLC is a great company

AUTHOR: EP - (United States of America)

I have worked with this company since 2003.  I am not an official spokesperson, but I know the program inside and out.  FFG has several programs to get new agents up and running and making money as soon as possible.  One program allows an agent that is not fully trained to at least earn some before he/she really even knows what they are doing.  We have them take an experienced agent along with them to make sure the clients' needs are properly met, then split any commissions that result.  This has almost nothing to do with product training (done mostly by the insurance companies anyway).  Rather than just giving agents a bunch of expensive, high quality, preset appointments (leads) and hoping they can turn them into clients, FFG requires agents to ride along with experienced agents to make sure they see how the leads work and how to properly take care of clients.  Agents must then demonstrate that they can perform in a suitable manner before they are permitted to run leads on their own and close deals on their own.  FFG does not require that any cases be split, unless an agent chooses to do so, using the program that allows them to earn some money before they are fully trained and/or proficient in closing cases.  Generally speaking, FFG requires agents to see 8-10 Ride Alongs on "1st appointments" and 8-10 on "2nd Appointments" before they can be totally self-sufficient.  The only time commissions are split is if they have a potential client that they cannot close themselves so someone else does it for them.  This is a common occurrence in the beginning of an average agent's career.  There are no "hidden charges."  FFG does use a voice mail system (a separate company, Segway) that is less than $5/month that allows us to train agents on a daily basis on a company-wide scope.  The voice mail system is a major part of how I personally learned the business.  Dan McKensie may be rough on the edges but he does not waste much time with poor attitudes.  Our agents are not captive, they can do what ever they feel is best for themselves and their clients.  We are all self-employed.  Each agent's business is what they make of it.  If you want to learn about products, contact the companies that make them.  If you want to help a ton of people reach financial independence, including yourself along the way, FFG may be the right place for you.  Don't just take my word for it, contact a local FFG office and go for a ride along to see.  
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