• Report: #304512

Complaint Review: WFG~ World Financial Group

  • Submitted: Wed, January 30, 2008
  • Updated: Thu, September 15, 2011

  • Reported By:Anaheim California
WFG~ World Financial Group
wft-online.com Brea, California U.S.A.

WFG~ World Financial Group - One too many odd things I noticed about this company that makes no sense!! Brea California

*Consumer Comment: Code of Ethics

*General Comment: It's about a different way of THINKING for success

*UPDATE Employee: Comment on the 100 Dollars used for Back Ground Check

*Consumer Comment: Lets be honest PLEASE stop MISLEADING people

*UPDATE Employee: I'll rebuttal you Ben, and also the original poster.

*UPDATE Employee: I'll rebuttal you Ben, and also the original poster.

*UPDATE Employee: I'll rebuttal you Ben, and also the original poster.

*UPDATE Employee: I'll rebuttal you Ben, and also the original poster.

*UPDATE EX-employee responds: Why all this bashing? It only makes you look bad. Have some respect for others.

*UPDATE Employee: Another Genius with their conspiracy theory

*UPDATE Employee: Let me educate you

*UPDATE EX-employee responds: Just Some Toughts

*UPDATE Employee: Real Business Owners With WFG Help Families, Not Spread Lies

*Consumer Comment: Typical...

*UPDATE Employee: Who Ever Posted This Report Is an Idiot!!!

*UPDATE Employee: How WFG Works..... The two sided coin - It's not quite a scam, but not recomendable either.

*UPDATE Employee: wfg

*Consumer Comment: WFG is no ripoff!

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Might I begin with the fact that this Brea, CA office address is NOT registered under the BBB. The Brea address posted on their website is different than the actual location.

I joined the company a week and a half ago, and with all the excitement in the world I paid the $100 dollars and despite a few negative opinions from people, I kept my hopes up. I always wondered, however, how and why can a company so large or a company of any size hire random people and give them a job that will allow a 6 figure income "in their first year" and only require them to be 18 years old and have a clean record?? Who does that!! (BTW they had a 17 yr old as an associate)

Well here are some odd things I have noticed, next to all the reports I have read about this company that cleared up the "fog" as they always said in their SCRIPTED speeches.

I was asked to bring my fiance so they could "educate" him about what his wife to be will be doing as a career so he will be aware of whats going on and whats gonna happen... never knew they would sucker him into it and I was never told they wanted him to come to the seminar to be a potential associate.

I received two CD's from them, one was a "WFG welcome" CD and the other was a "scripting, setting appointments, and the 8 speed filters" CD. Both were motivational CD's and although it was all fine and dandy, I did notice that every time the speaker "Ed Mylett" mentioned the company's name, it was EDITED!!! completely cut out and replaced with a similar voice that said "WFG"... So I thought to myself... How can a company so LARGE and SO powerful not be able to afford their own personalized material??

Still I listened and waited for the next bomb to drop. In the seminars, I had one person say that the company was larger than coca-cola and that it has been in business for 17 years. Another said 10 years and a third one said 16 years (at different times). Now I have read some of what people have posted on this ripoff report site, and I came across an employee who rebutted a report and said the business is only 7 years old and someone else who said according to BBB report, the company was born in 2003 and has 350 employees. 350 employees and they are global???

During my only training session, one of the new-B's asked the "instructor" what position he holds in the company... the guy was almost too quick to avoid the question and after a few more questions to narrow his options, he finally said "I'm a broker" which in their terms means that he makes 45% commission. NOW, to make 45% commission all the new-B's have to do is get 10 recruits and 10 applications in 30 days. This guy has been working there for 2 years and he is a "broker", yet they make it possible for new-B's to make climb up to his level in just one month??

Finally, my recruiter says she's been working there for only 4 months... she also says she will be at the "broker" level by the end of this month (which is in one day)... so how does a 4 month old employee overtake a guy working there for 2 yrs?? She also has her own office, she hires people, and she's one of the speakers... naturally, I'm thinking she is pulling my chain and she has been there longer than 4 months, but that's just me.

Regardless, scam or not (and I vote in favor of a scam!) I'm not going to be a part of a company who brainwashes their employees and God knows what BS they feed to families who are really in need. Save your fake tears and fake smiles ladies and gentlemen of WFG, or what I'd like to call "We're Full of GARBAGE" because I guess this is what America is coming to... a world full of fake money hungry people.

Wow
Anaheim, California
U.S.A.

This report was posted on Ripoff Report on 01/30/2008 04:24 AM and is a permanent record located here: http://www.ripoffreport.com/r/WFG-World-Financial-Group/Brea-California-92821/WFG-World-Financial-Group-One-too-many-odd-things-I-noticed-about-this-company-that-ma-304512. 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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#1 Consumer Comment

Code of Ethics

AUTHOR: Patti W. - (USA)

A friend I have known for ten years showed me a presentation which peaked my interest.  She knew I was looking for a little part time work.  Regarding "scripts", she used her own words but I was aware that she had learned the information she was teaching me.  When she asked if I could do what she had just done, I said, "Yes.  I can.  I can do it even better than you can".  With that, I made the decision to sign up.  I can't really sympathize with a person barking and scrutinizing a fee for an applicant.  Considering the structure of the company is an administrative staff that does a bulk of the work of your business (like payroll!" so you don't have to, I considered the $100 a fair fee to risk on a new business start up.  After all, I'd be self employed and promised that I can work as much or as little as I want.

Cut to 30 days later, I've completed my education, understand the material and have gotten field training.  There hasn't been anything moneygrubbing about the behavior of ANYONE at all.  I haven't been asked to purchase anything more.  In fact, everyone has been investing a LOT of time in me because they are so busy and they need my help.  No one has been pushy at ALL.  I wouldn't even describe the script as assertive.  It's positive and passionate.  We encourage questions.  Part of my training is to take the questions people ask and take notes about how my trainer answers them. 

If it was a scam or money was the only focus, I wonder why I have been encouraged to do all of this work for free while all of my trainers have joined me in doing all my calls for absolutely zero compensation.  They do this to train me.  We do a financial needs analysis on each person ONLY if they want one and it takes a lot of time.  Everyone has been jumping in to help me complete all of these analysis so I can watch and learn.  It seems like THEY themselves also continue to learn on the job.  The company is great...always there to answer questions. 

Since I fee other's commenting may have gotten a bad taste in their mouths BEFORE getting licensed, it is important and intelligent to note that we must study ethics, fiduciary responsibilities, and all sorts of things to protect ourselves and our clients.  We never do any business on the first meeting.  So far, I haven't observed my trainers doing any business on the second meeting either.  We build a relationship and give give give.  The people we are helping are grateful and very inspired to clean up their finances.  I love this business model.  I'm sure there are teams of people out there who may not have integrity or who fail to do a good job.  However, we are encouraged to build a team of people who have what it takes.  It would not behoove us to give up so much of our time to people who resent paying a $100 investment in themselves and who aren't willing to work as a team.

In addition, I love that the company overdubbed the name of the business instead of wasting money re recording an entire tool.  That would be just plain stupid.  The company COULD push it's business cards, T-shirts, flyers etc. on me.  On the contrary, everyone has shared pdf's for me to print, shared flash cards and learning materials because the company isn't wasteful.  I'm so glad that a $100 fee entites me to an admin to handle aspects of owning a small business that I find extremely unpleasant!  But that's just me.  I already own another business where I must do EVERYTHING myself.  

It's true that everyone has the right to complain but I find the original poster to be accusing a company of being a scam when she simply didn't like a lot of things that others DO like.

I am in business for myself...about to be a licensed agent but STILL in need of training.  While I'm training, I will STILL be making money.  Yes it is definitely possible to just start out and earn a lot of money and climb high into the company.  The reason is NOT that you are just selling whatever you want and lying to people as fast as you can.  The reason is that there is a TON of help and support and if you can set up the appointments with people who need help or make the time to meet with people when other people can't and you are able to present a plan where people can clearly see a path to wealth, they will likely want to act  and they will likely choose YOU since you are ON FIRE and on their side.  It's very exciting at this point but we will see.

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#2 General Comment

It's about a different way of THINKING for success

AUTHOR: Bilow - (USA)

Amber, you're comments are hypocritical and you are being insulting to them.  It's about a different way of thinking. 

Some people are skeptical, hopeless, pessimists who expect to get screwed by everyone.  Then, there's other people who are hopeful, positive, driven, optimistic, full of possibility.  Like they said... it's not for everyone... for obvious reasons.

It's a certain mentality one has that makes them successful.
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#3 UPDATE Employee

Comment on the 100 Dollars used for Back Ground Check

AUTHOR: rabbit20 - (United States of America)

That 100 dollars is used for a background check. I got a copy of if a few days ago, I also just started about 3 weeks in now. The background check is 22 pages long. So I dont know what happened with the 100 you gave but the 100 I gave went to a background check.
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#4 Consumer Comment

Lets be honest PLEASE stop MISLEADING people

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

Anyone who is responding to comments on wfg, with the heading as employee, BEWARE!!!!!! Their comments are misleading and alot of times flat out lies. Maybe, just maybe they are not fully aware, but I doubt it.

First of all, can you make money doing what they do.....? Absolutely..... However if money is all you are interested in then, they are for you...... Lets not focus on integrity or ethics..... That stuff doesn't matter.

They changed their name because when Aegon bought them they were trying to get rid of the negative stigma that came with WMA(former name) too many lawsuits and bad publicity..... FACTS....not rumors...do research through wikipedia its all there

I know people pesonally that have been completely ripped off by these agents..... You have read on these posts about their number one product the VUL.... No none of the agents volunteer any of these fineprint issues.... only if asked and even then the shell game starts.... The last poster.... Do you explain to your clients the possibility of the policy imploding, or how about the cost of the insurance going up every year(I didn't say the premium I said the cost of the insurance Annual Renewable Term) How about the fact that the money thats supposed to go into their savings averages a 7% return in the policy when the exact same mutual fund outside the policy averages 12%( this is per Kiplingers own numbers) Can you say hidden fees....Wait how about the fact that you have to borrow your own money and then pay it back with interest.....No no its a wash loan there is no interst owed... Really call the rep at WRL your underwriter and ask them about the loans and how they effect your cash value it changes everything.... Ok maybe you explain to them why the surrender charges are so large the first 5 years....You do tell them thats because WRL has paid out 108% commision on the annual premium to the WFG agents and uplines( so $400 dollars a month premium, WFG was paid out over $5000 in commissions)..... Ok maybe I am being unfair... They are doing good things for people.... Like when they tell people who have a home with equity "lets refinance your home, we'll take a large chunk of cash out and fund your new retirement account...Oh.. I mean your life insurance policy. Then the new loan will be a option ARM and you can pay the 1.5% rate so now you're saving $1000 a month on your mortgage payment we can now get your wife a VUL and if we have enough we'll get your child a VUL also."....Lets never mind the fact the new mortgage payment won't even pay the interest each month and the remaining money the lender should get is tacked on to the principal balance that is owed....Bet all your clients you "helped" with these loans are sitting pretty right now... You know now that they owe more than the house is worth and the ARM is adjusting up....Sitting Pretty in a new apartment because the house foreclosed.... But wait they still have their nifty new VULs , can't cancel those because the surrender charges are so high they won't get anything back on those either....


Bottomline you people peddle garbage and should be ashamed of yourselves.....If you truly don't know how your product works I'll extend grace, but remember police officers always say ignorance of the law is not an excuse to break it. But I do know how they work the person from WRL explained to us how they work and how to explain to the client so they'll buy... Oh.. You mean the rep from the company that collects all the premiums and controls all the invested money...That guy from WRL.... yeah like they don't have an interest in you selling this crap....Everyone please go on Youtube type in Suze Orman(WFG agents hate her) and Dave Ramsey life insurance.... These videos say it all

Always up for a good fight or debate.... Don't think any of you WFG people can rebutt these comments because they are all facts not my opinion I HAVE DONE MY HOMEWORK WHY DON'T YOU!!!!!!
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#5 UPDATE Employee

I'll rebuttal you Ben, and also the original poster.

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

I'll start out introducing myself. I am, along with my wife, an agent for WFG. I have no intention of bashing, name calling, or attacking anyone on this report.

I'll start with the original poster. Ed Mylett does work for our company. We do have our own "personalized" info. The reason that it is edited to say WFG is because we changed our name once Aegon bought out the company (changed from WMA). Second, the reason you got so many different years for the age of the company is this very reason, most people don't really know the history of the company (just like most, how many employees work for McDonald's and know everything about all the buyouts and/or history of the company).

I would like to point out also, that we have only around 400 employees. These people are our administrative staff who do much of the paperwork for all the agents in the field. The agents are individual contractors who are not employed by WFG. Lastly to you, yes, we can get to 45% commissions very quickly; even faster then someone there 2 years. It's equal opportunity. How hard you work equals how much you make. Period.

Now, Ben, I'll speak about what you said. Let's start with your dislike for scripts. All salespeople use scripts, all of them. In fact, most business' use them. Even at my minimum wage job, 1 script for answering the phone, 1 if they ask for a Health item (assertively trying to get them to buy more veggies or something), 1 more if they ask for a numbered item (try to get them to buy cookies/soup), even another to try to sell drinks. Not only do ALL sales people use scripts, but most other employees have to learn scripts of some kind. They work, and there is nothing wrong with them.

Second for you sir, let's address assertiveness. You will not find a single sales company out there that doesn't tell their sales force to be assertive. Again, even at my old job, they gave classes on up-selling. Not one of them said "don't be assertive, in fact be a little unconvincing." Of course not, they would say things like "make them believe they want it, don't give them the option to say no, say coke or tea, not just 'want a drink?'" Come on, this is a ridiculous accusation.

Next, we'll talk about manipulation. We don't. It's that simple. People don't read their prospectus on any financial product they buy. It is nieve to say that just because they bought it from WFG agents, that they don't read them. Also, we tell (at least as far as my training taught me) everyone about all the fee's (administrative, insurance, and all others). Um, who are we to tell them what to do with their money? We are financial planners, it's our job, and on top of that, they asked us to do it for them. This is probably the most ridiculous claims so far.

Lastly you asked me to address the Scenario of Disaster. Why does that bother you? It simply allows someone who knows more to tell them correctly about the company as opposed to you screwing it up for them. For those who don't know, it reads like this. Your enthusiasm; Creates Curiosity; They ask questions; You try to answer them; You answer wrong; They jump to conclusions; Result FAILURE. Is this so wrong? To ask your sales force not to try to answer questions they don't know the answer to? Would you rather people just walk around and tell people how to spend their money without any training? This is in place to keep people from giving the answers to questions that they don't know the answer to. Strait forward and nothing immoral.
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#6 UPDATE Employee

I'll rebuttal you Ben, and also the original poster.

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

I'll start out introducing myself. I am, along with my wife, an agent for WFG. I have no intention of bashing, name calling, or attacking anyone on this report.

I'll start with the original poster. Ed Mylett does work for our company. We do have our own "personalized" info. The reason that it is edited to say WFG is because we changed our name once Aegon bought out the company (changed from WMA). Second, the reason you got so many different years for the age of the company is this very reason, most people don't really know the history of the company (just like most, how many employees work for McDonald's and know everything about all the buyouts and/or history of the company).

I would like to point out also, that we have only around 400 employees. These people are our administrative staff who do much of the paperwork for all the agents in the field. The agents are individual contractors who are not employed by WFG. Lastly to you, yes, we can get to 45% commissions very quickly; even faster then someone there 2 years. It's equal opportunity. How hard you work equals how much you make. Period.

Now, Ben, I'll speak about what you said. Let's start with your dislike for scripts. All salespeople use scripts, all of them. In fact, most business' use them. Even at my minimum wage job, 1 script for answering the phone, 1 if they ask for a Health item (assertively trying to get them to buy more veggies or something), 1 more if they ask for a numbered item (try to get them to buy cookies/soup), even another to try to sell drinks. Not only do ALL sales people use scripts, but most other employees have to learn scripts of some kind. They work, and there is nothing wrong with them.

Second for you sir, let's address assertiveness. You will not find a single sales company out there that doesn't tell their sales force to be assertive. Again, even at my old job, they gave classes on up-selling. Not one of them said "don't be assertive, in fact be a little unconvincing." Of course not, they would say things like "make them believe they want it, don't give them the option to say no, say coke or tea, not just 'want a drink?'" Come on, this is a ridiculous accusation.

Next, we'll talk about manipulation. We don't. It's that simple. People don't read their prospectus on any financial product they buy. It is nieve to say that just because they bought it from WFG agents, that they don't read them. Also, we tell (at least as far as my training taught me) everyone about all the fee's (administrative, insurance, and all others). Um, who are we to tell them what to do with their money? We are financial planners, it's our job, and on top of that, they asked us to do it for them. This is probably the most ridiculous claims so far.

Lastly you asked me to address the Scenario of Disaster. Why does that bother you? It simply allows someone who knows more to tell them correctly about the company as opposed to you screwing it up for them. For those who don't know, it reads like this. Your enthusiasm; Creates Curiosity; They ask questions; You try to answer them; You answer wrong; They jump to conclusions; Result FAILURE. Is this so wrong? To ask your sales force not to try to answer questions they don't know the answer to? Would you rather people just walk around and tell people how to spend their money without any training? This is in place to keep people from giving the answers to questions that they don't know the answer to. Strait forward and nothing immoral.
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#7 UPDATE Employee

I'll rebuttal you Ben, and also the original poster.

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

I'll start out introducing myself. I am, along with my wife, an agent for WFG. I have no intention of bashing, name calling, or attacking anyone on this report.

I'll start with the original poster. Ed Mylett does work for our company. We do have our own "personalized" info. The reason that it is edited to say WFG is because we changed our name once Aegon bought out the company (changed from WMA). Second, the reason you got so many different years for the age of the company is this very reason, most people don't really know the history of the company (just like most, how many employees work for McDonald's and know everything about all the buyouts and/or history of the company).

I would like to point out also, that we have only around 400 employees. These people are our administrative staff who do much of the paperwork for all the agents in the field. The agents are individual contractors who are not employed by WFG. Lastly to you, yes, we can get to 45% commissions very quickly; even faster then someone there 2 years. It's equal opportunity. How hard you work equals how much you make. Period.

Now, Ben, I'll speak about what you said. Let's start with your dislike for scripts. All salespeople use scripts, all of them. In fact, most business' use them. Even at my minimum wage job, 1 script for answering the phone, 1 if they ask for a Health item (assertively trying to get them to buy more veggies or something), 1 more if they ask for a numbered item (try to get them to buy cookies/soup), even another to try to sell drinks. Not only do ALL sales people use scripts, but most other employees have to learn scripts of some kind. They work, and there is nothing wrong with them.

Second for you sir, let's address assertiveness. You will not find a single sales company out there that doesn't tell their sales force to be assertive. Again, even at my old job, they gave classes on up-selling. Not one of them said "don't be assertive, in fact be a little unconvincing." Of course not, they would say things like "make them believe they want it, don't give them the option to say no, say coke or tea, not just 'want a drink?'" Come on, this is a ridiculous accusation.

Next, we'll talk about manipulation. We don't. It's that simple. People don't read their prospectus on any financial product they buy. It is nieve to say that just because they bought it from WFG agents, that they don't read them. Also, we tell (at least as far as my training taught me) everyone about all the fee's (administrative, insurance, and all others). Um, who are we to tell them what to do with their money? We are financial planners, it's our job, and on top of that, they asked us to do it for them. This is probably the most ridiculous claims so far.

Lastly you asked me to address the Scenario of Disaster. Why does that bother you? It simply allows someone who knows more to tell them correctly about the company as opposed to you screwing it up for them. For those who don't know, it reads like this. Your enthusiasm; Creates Curiosity; They ask questions; You try to answer them; You answer wrong; They jump to conclusions; Result FAILURE. Is this so wrong? To ask your sales force not to try to answer questions they don't know the answer to? Would you rather people just walk around and tell people how to spend their money without any training? This is in place to keep people from giving the answers to questions that they don't know the answer to. Strait forward and nothing immoral.
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#8 UPDATE Employee

I'll rebuttal you Ben, and also the original poster.

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

I'll start out introducing myself. I am, along with my wife, an agent for WFG. I have no intention of bashing, name calling, or attacking anyone on this report.

I'll start with the original poster. Ed Mylett does work for our company. We do have our own "personalized" info. The reason that it is edited to say WFG is because we changed our name once Aegon bought out the company (changed from WMA). Second, the reason you got so many different years for the age of the company is this very reason, most people don't really know the history of the company (just like most, how many employees work for McDonald's and know everything about all the buyouts and/or history of the company).

I would like to point out also, that we have only around 400 employees. These people are our administrative staff who do much of the paperwork for all the agents in the field. The agents are individual contractors who are not employed by WFG. Lastly to you, yes, we can get to 45% commissions very quickly; even faster then someone there 2 years. It's equal opportunity. How hard you work equals how much you make. Period.

Now, Ben, I'll speak about what you said. Let's start with your dislike for scripts. All salespeople use scripts, all of them. In fact, most business' use them. Even at my minimum wage job, 1 script for answering the phone, 1 if they ask for a Health item (assertively trying to get them to buy more veggies or something), 1 more if they ask for a numbered item (try to get them to buy cookies/soup), even another to try to sell drinks. Not only do ALL sales people use scripts, but most other employees have to learn scripts of some kind. They work, and there is nothing wrong with them.

Second for you sir, let's address assertiveness. You will not find a single sales company out there that doesn't tell their sales force to be assertive. Again, even at my old job, they gave classes on up-selling. Not one of them said "don't be assertive, in fact be a little unconvincing." Of course not, they would say things like "make them believe they want it, don't give them the option to say no, say coke or tea, not just 'want a drink?'" Come on, this is a ridiculous accusation.

Next, we'll talk about manipulation. We don't. It's that simple. People don't read their prospectus on any financial product they buy. It is nieve to say that just because they bought it from WFG agents, that they don't read them. Also, we tell (at least as far as my training taught me) everyone about all the fee's (administrative, insurance, and all others). Um, who are we to tell them what to do with their money? We are financial planners, it's our job, and on top of that, they asked us to do it for them. This is probably the most ridiculous claims so far.

Lastly you asked me to address the Scenario of Disaster. Why does that bother you? It simply allows someone who knows more to tell them correctly about the company as opposed to you screwing it up for them. For those who don't know, it reads like this. Your enthusiasm; Creates Curiosity; They ask questions; You try to answer them; You answer wrong; They jump to conclusions; Result FAILURE. Is this so wrong? To ask your sales force not to try to answer questions they don't know the answer to? Would you rather people just walk around and tell people how to spend their money without any training? This is in place to keep people from giving the answers to questions that they don't know the answer to. Strait forward and nothing immoral.
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#9 UPDATE EX-employee responds

Why all this bashing? It only makes you look bad. Have some respect for others.

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

Why is everybody bashing this person's (Wow's) comments? This isn't a conspiracy theory as someone replied. This person just went overboard because he/she is emotional right now. He/she recently found out that this is something he/she doesn't want to do and it hurt. He/she was actually involved with the company and formed an opinion. I want to congraduate you for having a mind of your own and not letting people push you around.

I was also involved with WFG and I dropped out because I also didn't like it. It's was a big choice and I'm glad I made that choice.

The truth is that Wow gave it a try and Wow is uncomfortable. He/she listened to the training CD's just like I did. Everybody argues the good about WFG, but the truth is that every good WFG salesman relies on his sales scripts. Yes, if you didn't know, WFG agents all have the same sales script which they practice and perform at every sales appointment.

Ed Mylett, in the training CD, talks about how you have to be assertive to sell(a.k.a. be pushy). WFG trains their people to be pushy salespeople that don't give you much information. Ed talks about a concept called the "Scenario of Disaster" where you want to be assertive and control the conversation so that the client doesn't ask questions. They don't want clients to ask questions because they will become skeptical.

Step back and look at what you're doing. You're manipulating people. You may believe that you're helping people by selling your financial products, but did they buy because you mainipulated them or because they were well informed? And if you feel that you need to help them whether they like it or not, then I'm going to tell you that you're wrong! Who are you to tell someone what to do with their money?

How many of your customers read the entire prospectus for that WRL VUL that every WFG salesman will push on you? Do the customers really know what they're commiting to? Do they know all of the fees involved and surrender charges? How is this educating people about finances?

I dare anyone to post a rebuttal denying the assertiveness strategy, the sales scripts and/or the scenario of disaster!

Also, I want to point out a white lie that WFG tells you at the time of recruiting. They say you need to pay $100 for a background check. I requested a copy of my background check. Under California law, I'm entitled to a copy and WFG El Segundo was not able to come up with one. My trainer had to call the corporate headquarters to figure out why and explained that the $100 was really for administrative fees and access to the website hence non-refundable. I was told it only covers the background check only once you are ready to be a licensed agent.

Lastly, I want to encourage "Wow" to work hard and do what you feel is right. There is more than one way to be successful. It is not the mechanism that is important, but it's the person's intent. If you truly want to be a business owner, then you will find a way to be successful and start your own business. Don't let these negative WFG employees bring you down. I have no doubt that if you can be a business owner (with a mind of your own). Good luck! :)
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#10 UPDATE Employee

Another Genius with their conspiracy theory

AUTHOR: Ljc445 - (U.S.A.)

The internet is great in alot of ways except that it allows anyone and everyone to post their views no matter how slanderous they are without any fact checking to back up their claims. Do you really think Aegon would have bought WFG if there was anything bad about the company? Whoops, I bet the genius who posted this never even heard of Aegon or will go look it up now that I've just mentioned it. Do you think PacLife, Prudential, etc, and some of the largest money managers in this country would be partnered up with WFG if it was a scam? Do you think WFG would be able to sponsor some of the athletes they can or sponsor the Pac-10 games on Fox if it was scam? We're regulated by Federal and State laws, regulations, and guidelines. WFG allows average people who have the drive, desire, passion to change their lives and the lives of others around them by opening up doors to a very lucrative career that most never get a chance at. The sad part is that by doing that you have many people who have no concept on what it takes to run a business or how the insurance and financial services industries run so they get on these sites and scream about pyramid schemes when it comes down to the fact that they don't have to drive to make it in this industry. And then they have a million excuses why didn't make it or fabricated conspiracy theories that were created in their own mind. Do some research on any insurance or financial firm and you'll find problems with any company but given the research that you did on WFG before posting here, you better leave the research up to someone else. Let's see in the last year we saw the failure of AIG, Bear Stearns, Lehman Brothers and countless banks that you could find problems. IF your looking for the negative or trouble then that is what you'll find because that is all you see. This is for you and all the other the brainiacs out there who get on these web sites, just do everyone a favor and just because you couldn't make it in this business with your million excuses don't yell scam when there is nothing about this company that is a scam.
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#11 UPDATE Employee

Let me educate you

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

Wow!! You are very quick to think that WFG is a rip-off. I bet your always broke, right? You know how I can tell? I can tell because in your report you mentioned "against the negative opinions of some people". Let me educate you on something that is a psychological fact. If you listen to negative people, you will never be successful at anything in life. Remember this "TFAR". Thoughts lead to Feelings which lead to Actions which lead to Results. Before I got into WFG I read all of the negative reports on the Internet and noticed the same thing about each of them. The person writing them was a "negative" person. Yes, this business may not be for everyone. I personally feel that reps should only contact those who are already working and are looking to start their part-time business. That way they don't lose anything, but gain valuable knowledge at the least. There is a little old Vietnamese lady in our company who makes $48K / mo. Yes that's right, 48 thousand dollars a month. She was shy, didn't like selling, but learned how to approach the right people. As a result she is very successful. I myself have only been working for the company for 2 months, and I already have alot of recruits. So you see it just depends on You! Most people like yourself don't like the world "Sell", but you do it everyday. Did you know that? Every time you recommend a restaurant, movie you sell. Except that you don't get a commission for doing it. At WFG we show people how to save money and make money if they want. Either way, we get paid for it, unlike you who sells everyday and gets nothing...
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#12 UPDATE EX-employee responds

Just Some Toughts

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

I came Across your posting and would like to add some comments.

In 2006-2007 I was working as an associate in WFG. Attended lots of presentations and heard lots of people pumping you up in a positive way; and as you felt, I felt too and is very normal. I tried to analize the way people like Ed mylet got to be where they are right know; and in my opinion is their ability to move masses, the gift (because it is a gift) to make people dream and believe they to can be in their shoes. The thruth is only a few will make it, the rest of us are only passing thru the company, you can either believe and put all your efforts to try to be one of the few that make it (and Maybe YOU ARE ONE OF THOSE IF YOU TRULY BELIEVE IT) or just grasp all the techinques and knowledge you can, since is very valuable. Basically you learn two aspects: 1.- to better understand finances (very valuable in a personal way) and psicology, this is the fun part; how the human mind reacts, how to steer people in a certain direction, how to negotiate, how to be less afraid of rejection; very important tools for human interaction.

I still talk to several persons in WFG, they are my friends and I tried not to talk about business with them. I can honestly say that everything shows up for a reason and that eventhough I only made around $15k on the year I was there the techniques I learned has helped me tremendously to be where I am right now.

This company is a good company, and when they said 17 years, 16 or 10 they are refering to the parent company AEGON. Depends on What are you looking for? see beyond of their product. They sell insurance basically and the way the sell their product is to associates and people the associates know. It is an MLM one way or another, but it offers more if you are willing to look for it.

The funny part is (psycology again) they give you little information at a time, first to keep you interested and puzzled, second because if they give you all the nuts and bolts you will only be very confused. You have to work hard; VERY HARD if you want to be a broker in 30 days, because it is possible. Me, I got to be Senior Associate (one step below broker).

I do not regret my association with WFG, I stayed the time I need it to stay, learned what I need it to learn and move on, like most of the people that come into contact with this company.

If some other people are thinking of joining, give it a try, learn, learn a lot, question and if you don't feel confortable doing something don't do it, the learning process is in your terms no body elses.
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#13 UPDATE Employee

Real Business Owners With WFG Help Families, Not Spread Lies

AUTHOR: Alton - (Canada)

I feel sorry for the experience you seemingly had with this World Class organization that is World Financial Group.

It is unfortunate that anyone and everyone can maliciously spread rumor, unvalidated gossip, personal gripes onto companies and individuals through the internet. Some would say it's a good thing we can express ourselves outwardly and not have any consequences to face. I say "What if this isn't true?" "What if this particular company is changing peoples lives, getting them out of debt, giving them hope, while giving them a chance to own a business for themselves with a way to change their families futures forever?" What if it's true??!!

Well guess what...It is!

World Financial Group is a company I personally work with and have for 2 years. This company has changed my life in many different ways. Our office in Edmonton has produced dozens of business owners that earn over 100K year and have changed their personal futures forever. I have made many amazing friends, helped many clients with directions to their own personal futures and given myself a chance to make a difference in this world.

World Financial Group s owned by AEGON, Aegon is a Fortune 100 company. They are valued at over $400 Billion in assets. It was ranked 98th largest company in the world by Forbes magazine in 2006. Yes, it's bigger than Coca cola, IBM and many others! WFG is one of the biggest financial distribution outlets in the US and Canada.
We operate in the U.S, Canada and China, with plans to go to Mexico and India and Europe and others.
AEGON aquired WFG in about 2001/02, and the actual name was changed at that time, however the underlying company has been around since the early nineties. I suggest that is why you heard so many varying ages to our company.

It sounds like you just met a lot of new people in the business whom were just poorly educated as the background of this company and didn't know when to say "I'm not sure" or "I dont know exactly" instead gave you number/years that they hadn't really researched themselves. Again, like any business and employee when they are new and excited about an opportunity, most people will probably say the wrong thing through lack of knowledge.

WFG gives us the opportunity to be in business for ourselves, but not by ourselves. The CD's you heard may have been recorded before the name change of our company, or just poor copies. The bottom line is we pay for our own merchandise to hand to people, so there isn't this big conglomerate that produces these audio CD's, so please do your research, don't assume. Many of our associates aren't making truck loads of cash and cant afford glitzy handouts/CDs for people.

As far as becoming a "broker" quicker than other individuals in the company, well it can happen and this is why;
a) In WFG we work for ourselves and were in business for ourselves. So therefore if someone works harder then the other person, is it not fair to say they will win faster than the other individuals? It happens all the time in our company. If we work hard we will supercede income, families we have helped and build a bigger agency/organisation than others who slack off, dont develop/hone their skill in developing a business.

b) The average "broker or agency owner" in our company has reached that point in 2 years, some a lot less, but some more. Is 4 months possible...In my opinion yes, but realistically probably not, but 6 months is, because we have two individuals in our office that were promoted to that postion in that timeframe.

c) Have you ever wondered why the guy/girl who works beside you, yet doesn't do nearly the same amount of work and is sloppy and lazy gets paid the same as you?
Well, guess what, if you work hard with WFG you'll get paid very well, but if you dont you wont get paid at all. We've got lots of people who get paid a whopping $0 and quit and blame WFG. The reality is, it's not WFG, because there's lots of people winning with the company, it's YOU and your choice to not wont to pay the price and put the work in for you and your family.

Thank you to all the people who have read this far into my piece and I leave you with the following thoughts...

WFG gives people a shot to change their families direction and legacy. I experience it everyday.

We help people with ways to help them pay less tax, create tax deductions, ensure proper insurance protection, build asset accumulation by beating inflation, save people money on may concepts, and we dont charge a dime, yet we dont get the recognition we deserve.
WFG is a huge company in the U.S and Canada. We've only been around in Canada for about 7-8 years, yet we are one of the biggest financial distribution outlets in the entire country.
I ask you to think why that would happen in such a short period of time? The secret is our system of having people start with our company part-time, let them learn for themselves the education about money and finance, utilize some of the concepts themselves, show them value and teach them ways to go and help other families with the same concepts and in return of helping others, we as WFG agents get to build a business that will turn our lives into something we dreamed.
We're good people, doing good things for families, making good money. And we shouldn't be penalised for that.

I truly recommend anyone who has any questions about WFG as a company, please do your own research. Don't rely on gossip and personal opinions on websites, go online to www.worldfinancialgroup.com or www.aegonins.com or www.wfg-online.ca or www.thecompanyofwomen.com or www.wfgracing.com.
We do advertise with Carl Edwards in Nascar and other events North America wide.

So, Wow from Anaheim, please you owe it to yourself to take another look for yourself. Go talk to some other successful WFG people or go online to some legitimate sites where the information is correct and you'll find more real people than you probably imagined. Keep your mind open, we cant brainwash you unless you want to be..ha ha.
I dont expect you to be interested in the business, as it's not for everyone, and I'm glad because otherwise the opportunity wouldn't be so big for us who want a shot.

Thank you,

Alton,
Edmonton,
Alberta,
Canada.
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#14 Consumer Comment

Typical...

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

Another sign that this is an MLM: Any dissenters are insulted and told that they "just don't have what it takes to make it". Having a legitimate job anywhere other than WFG is put down. However, as seen in the last rebuttal, it is obvious that the person doing the insulting has the writing skills of a sixth grader and is about as eloquent as Britney Spears. Apparently he/she is unaware that some of us with an education and/or skills can get high paying positions within other people's companies and be perfectly happy.
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#15 UPDATE Employee

Who Ever Posted This Report Is an Idiot!!!

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

WFG is not a rip off but an opportunity to not only give you the chance to run a turn key proven business, but also to change you and your families finances, lives. WFG also gives you the chance to go out and change other peoples lives. This writer obviously does not know what WFG is all about. She mentioned that the addresses of our offices dont match. Well if she ever ordered business cards, she would know that the home office address is at the bottom of the card and it is registered. We are independent contractors of one of the largest companies in the world and our individual addresses are registered through that company and it does not have to be individually registered with the BBB. Second comment she made was that WFG tried to recruit her fiance. All that means is that they would become a power couple in the business and their support level for each other would be much greater than it would if she was just by herself. We work long hours at WFG and the partners have to give their understanding and support in order for that individual to have a better chance to make it at WFG. She also mentions that new WFG associates could be at the same contract level as an associate that's been their two years or longer. Wow! Is that so bad! That means the company gives every associate the same opportunity as anybody else in the company now matter how high up a person is. An incentive for people working hard. Can you go to a JOB (JUST OVER BROKE) and get that opportunity? How long would it take you to reach CEO or President of a company working at a job. WFG give you the opprtunity to run a business at your own pace. A chance to be a CEO, Field Vice Chairman, Senior Vice Chairman, Executive Vice Chairman within two years or less. WFG gives you the opportunity to take control of your life, your money, your time, and anything else you want to do. The writer probably has no self confidence, or motivation to run a business so she talks about a company she knows nothing about and that she been a part of for two months. Go figure. She will probably go back to working for a job and be under the same rules that held her down for years. She also mentioned that WFG has only 350 employees? Wow! Who's the idiot? WFG does have 400 employess at the home office who's main job is to take care of all the independent business owners paper work, licensing, payroll, training material, etc, so that the independent busines owners like ourselves can go out and help in our vision to bulid the largest financial services in the world. WFG associates are currently at 25,000 strong. Our mission is NO FAMILY LEFT BEHIND and that also meant her family but she didn't see it, or believe it, so she writes that we are a scam. If that's the case, ask yourselves, then why does WFG have a backing company with over 500 billion dollars in asses, in the top 100 companies in forbes as a successful companines, in the top 50 in assets. Why does over 200 different insurance companies and over 2000 different investment companies use our services to get their messages across? Do you see the BIG picture or are you going to let these people who cause the couldn't make it in the company, these panzies and people that are still wetting their diapers going to spoil your chance at the greatest opportunity in the world?
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#16 UPDATE Employee

How WFG Works..... The two sided coin - It's not quite a scam, but not recomendable either.

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

So here's the low-down. After working with WFG for a few months I came to a very simple conclusion. It is a good product destroyed by network marketing.

The service and products that WFG offer are great. The problem is the way the company is set up. They don't realize that not everyone is cut out for this type of job (or maybe they do and they just rush you through the 8 speed filters, leaving a bitter taste in the mouths of the 90+% fallout rate). The problem about opening the doors to anyone (and I mean they will take anyone who is willing to give it a shot), is that most people do not have the proper experience, especially sales experience needed to do business.

Bottom line for me, I didn't want to become a recruiter. WAY TOO MUCH emphasize on recruiting others, insted of doing business. About 90% of the agents never make it past the first pay level (because you have to recruit at least 3 others to advance). So if you enjoy bugging all your friends and everyone you come in contact with, GREAT, go for it.

WFG thrives on the warm market - even if you don't become an agent you are very likely to do business with them and all of your friends and family suddenly become potential customers (which is very lucrative for your recruiter and upline).
That is the way network marketing works (although I still would lump it together with MLM -although they swear they are not).

Like I said in the beginning though. They really do have good services and products and it is a much needed service. GOD only knows how much trouble Americans are in financially, so I do recommend doing business with WFG.

SO if someone from WFG approaches you I would respond: I'm interesting in knowing more about settting up a financial plan for myself and family, but I don't want to become an agent myself and try to recruit the world. AND be clear from the get go.

About how long the company has been around. About 7 yrs. AEGON bought out WMA which was destroyed by some slander form Citigroup. WFG is much better than WMA, but they use the same business plan. YOu can make a lot of money and be very sucessful at WFG, but you have to recruit a lot of people to do so.
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#17 UPDATE Employee

wfg

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

WoW!!! It's only ignorant people like you that make this a living hell for others. First off this is a business not a job!! Second it is only because this company has no glass ceiling as to how much you can earn, is the reason that the person that was there 4 months was able to catch up to the guy that was there 2 years. It was because of her determination and her will that lead her to being a broker. You can climb the ranks depending on how you do the business, of course if you don't produce results or not do anything it might take you longer but if you are gung h*o about it and motivated then it might not take as long. It's sickening to see people like you sit back and point the fingers at others. And NO they do not feed BS to families at least they are helping out a family that none of this so called high named global firms are leaving out. How many families and people did you help out the last time? There will be a lot more of people like you that will be trying to make negative claims about the company and then their will be people out there helping out individuals or families by providing them the business oppurtunity or their service. And as an agent it always feels good when your client at the end of the presentation tells you that you have saved them thier life and helped protect their family. A feeling that you might never have the chance to experience.
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#18 Consumer Comment

WFG is no ripoff!

AUTHOR: Love-wfg - (U.S.A.)

I have been a real estate professional for approximately 28 years. During the course of helping many families achieve the American dream of owning their own home, I became aware how many families just didn't know how money worked.

Many families have been overlooked by the financial services industry because it's been the policy of big financial services companies to only help those people in our society that make $250,000 or more. Who helps those families that don't make $250,000 or more plan for their family's financial future? The answer is WFG.

Of course, anytime a company or any individual takes a position to be in the public eye and help thousands of families, some kind of misinformation will be spread like a virus in an attempt to discredit that company or individual.

Most of the time though, I really believe the person spreading the misinformation didn't have the opportunity to really look closely at the opportunity.

I personally have been affiliated with WFG for approximately 18 months. Both my wife and I are very happy to be affiliated with such a fine company. We work with many families from all walks of life and have seen and experienced the positive impact we have made in their lives. WFG shows people how to work with money and also provides them with an opportunity to change their lives by pursuing a career in the financial services industry.

Is this business for everyone? Maybe not. Is the mission of WFG a noble one? My answer to that is yes.

I thank God on a daily basis for the WFG opportunty, it's leadership and the friends my wife and I have made. WFG promotes personal development, respect for people and has a strong foundation in faith, family and business.

P. Allen
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