WFG - World Financial Group , recruitment based scam Internet

I've ALMOST joined this company "who wants to help people." This is my story on WFG

I'm a 21 year old college student, working part time at a restaurant that makes decent money but not enough for me to use (including paying for college expenses). During a semester I met this guy who became study group partners. We studied together a few times and had various conversations. I remember of one of the earliest conversations I've had with him, he asked me about my money issues and how am I on my income. I told him "it's alright, my job makes me decent money but it's not enough." I didn't think much of that at that time. I asked him about his job, and at that time he didn't say much of it. He works at an "office." Throughout the semester we would do lunch and stuff, and one day I just asked him to pay and I'll pay him later. He asked "why don't you have money?" I simply told him I'm out of money for now and I'm waiting on my next pay check. His response "I could help you save money and reach financial security." I was skeptical of course. Replied with "suuuuure." (I'm pretty sure I was a target by then).

During finals week our classmates scrambled to set up times to do study sessions. We all wrote down our work schedule. I asked him what time you work? He said he work whenever he wants to. I'm baffled by such response and became interested in what he works in. And there we go, he hooked me to an appointment at a tea place around town. However, when I ask him what does he do he said "he helps people save money." He said he will bring his friend who introduced him into this job. He said his friend is a 23 year old millionaire doing this work, owns 4 cars (all high class exotic sports cars) a huge house in Malibu, and a gigantic beach house. So I met him that day, rolled into the parking in a yellow Ferrari F430.

His friend greeted me with very high enthusiasm, and huge amount of good vibes. They chatted for a while, lots of laughter, seems to be the technique to lessen the tension of first meeting with a stranger. He began asking me what I do. One of the questions he asked me is "What is your goal." Honestly, my goal is just to graduate, get a degree, and worry about what happens later on. But I told him "none so far." I'm curious to what he will respond to me with. During this whole time my classmate remained silent (he's learning how to recruit people without the help of a superior). He began saying things such as I need to create a bigger goal. By joining this company it will change your life for the better. You will meet better people, make better friends who will suite you in your new lifestyle. You will make lots of money and at the same time help families reach financial security (but at this time, they still haven't told me what they really do and sell). The speech he gave me made me felt very motivated (I'm usually the type of person whose very skeptical on almost everything, yet this speech had 100% grabbed my senses, note that he's a very experienced person and is indeed making millions in this company). Then he said "Do you want to change, do you want this opportunity?" I'm certain with this scripted speech almost everyone will say yes. Then we made the deal; I will go to their orientation. However, when I went home, I didn't feel right about this whole business, I'm starting to have doubts. But I told myself I will go to that meeting and see what happens. After all I'm not paying anything yet.

That night when I arrived at one of their offices in Pomona,CA. Everyone there had lots of energy, chattering, and many laughter. I felt uncomfortable going in, feeling almost like joining a cult. (And there was techno/trance music blasting in the lobby where everyone stood around to chat, giving me more doubt about the professionalism of this whole get-up). My classmate introduced me to several high status people. And note this - everyone took turns greeting me. The person talking to me before would bring me to another person FIRST INTRODUCING EACH OTHER BY NAME, then after the previous person leaves, that new person I'm talking to would always first ask "whats your name?" and always followed by "where you from." At this point I know that these people here are running off a script. It's adding to me doubt even more.

Afterwards, the guests are invited to this room to watch a video, telling people about how this company is very reputable, working with many financial companies etc etc, and how much assets this company owns and such. What this company can help families secure financial stability (heard it many times now), and how we can make money by doing so. Three speakers came, the first one being the yellow Ferrari guy. He told us how Banks can make so much more money than they pay you in interest if you put in a time deposit, and how time deposits shouldn't be a reliable source of savings. He also went on saying how much money we need to save by each age group for retirement. Concluding that this company will help you achieve enough money for retirement (not telling us how). The rest of the two speakers talked about how their life has changed so much ( mainly how much money they're making in this company) since joining. After the speech, I sat there for about an hour waiting for an interview. (at this time I was deciding on giving this company a try by joining). When I was invited into the office for my interview, it was my classmate and his friend in there. They encouraged me to join by using these phrases very often. "Money, Compensation, Reaching your dreams, and Commission". During this short "interview" session, they have not told me what they're products are but only termed it "financial services." Also, they told me every person you recruit into your "team", you will get compensated right away. (My classmates trying to make money off my money? I think so.) However, I'm ashamed to say his scripted speech is so overwhelming, I told them I'll join. Big energetic hand shake, cheering, and "Do you have $100 for the background check right now?" I was ready to pay, but at the same time felt something funny going on;  asking me to pay right away before I even have ANY IDEA what they do. I played it smart and told them I have to wait for my paycheck 4 days later. They said no problem, come back as soon as you have free time, and we scheduled a follow up interview and to have my money ready by (6 days later).  

I couldn't sleep well that night, and this whole thing kept coming up in my mind. I called some people I know to go grab a drink with me the next day. One of the workers at the tea station I've become well acquainted to sat down with us right after he got off his shift. I talked to him about WFG and how I'm going to join in a few days. He told me immediately "Don't do it, it's a pyramid scheme. I've been there 2 years ago and I still regret upon it today." My interest in the company immediately dropped. Apparently, their so-called money saving technique is basically life insurance. They do not tell the guests at the orientation the actual method of saving money is because life insurance is not an easy product to sell, and may scare away some potential recruits. He worked for WFG for 1 year, made $0, lost over $2000 because he was almost forced to purchase life insurance for himself. He told me his experience. After several follow up interviews, they told him to list down everyone you know, and everyone on your cell phone. Give them points based on what characteristic they have, and keep the people with the highest points and call them for an orientation. He started losing friends whose scared of MLMs, and have never found one single person to make a sales. But his part in the company was done, do be recruited and have his recruited get compensated. I never went to the follow up interview and saved myself $100, and $400 for lesson fees/license fees.

World Financial Group is mainly recruitment based. The $500 paid to the company by new recruits are taken to make their own loans and investments, growing their profit. Every person gets compensated for recruiting(once they're out of trainee position), and that's the main goal for most people in the company.

My friend went to all the seminars, all the training, and why he still can't make money in WFG? We're all young people in our early twenties. All our friends are within our age group, and we're all in the lower-middle class status. Who can we sell life insurance to when we ourselves are struggling with car insurance, school tuition, and many other expenses. Life insurance will not pay until upon reaching (age 65 I believe), or in the event of death. How can we find clients like this? We don't, WFG wants all types of people to join the company, because they're making money by just having people join. Also, you need to have 3 active recruits to remove the trainee status, which will allow you to get compensated for future recruits. He couldn't get out of trainee status, because every person he talked to about this "business" knew what he was up to (and that's a good thing). He quit after a year, when all the people he knew started avoiding him. Being in a situation where he's already making very low income, he had to cancel his life insurance, thus losing around $2000.

Stay away from WFG unless you know people whose ready to dish out several hundred dollars a month for life insurance, or cold hearted enough to make money off the people you know.