• Report: #1071896

Complaint Review: World Financial Group

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  • Submitted: Wed, July 31, 2013
  • Updated: Wed, July 31, 2013

  • Reported By: Rhythm Dancer — California
World Financial Group
135 W. MAGNOLIA BURBANK, California USA

World Financial Group Jake Hastings, Mark Quann, Michael Wooderson don't tell you all the costs involved. BURBANK California

*Author of original report: REQUEST TO REMOVE EARLIER POST

*UPDATE Employee: World Financial Group is an amazing company

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Watch out.  These guys are mostly run by a complex recruiting system.  You'll see lots of people in suits who are basically working a system to make more money, by getting more clients and recruits.  

You may be told that it's a $100 fee for a background check -- it's really just an application fee.  When you research the parent company website, you will find a "new recruit quiz" online that tells you that the $100 is NOT for a background check.

Try calling the Home Office (HOST) at 770 453 9300 and you will get a bunch of people who are just answering phones and giving you the run around.  I did not get my questions answered on a repeated basis, and when I called other people in the company for help (people like John Shin) they just said "why don't you call (someone else)".  

You will also have hefty errors and omissions fees to pay, which they didn't tell me or a lot of people about when they first signed up.  If you don't get a license (about $200 after studying costs and state fees, plus fingerprinting) and then get at least one person into a deal (financial savings plan) then you won't be getting compensated.  

They also avoid letting you write a deal on yourself, suggesting that you give the credit to the person who recruited you.  Some of these people just collect unemployment and make very little to no income 

So if you like wearing a suit and tie almost all the time, working with people who don't really know what they are doing, having to pay lots of money for your own office, and just being coach-able to "the system" and their "upline" and spending lots of money in your struggle to succeed, then this is the company for you.


This report was posted on Ripoff Report on 07/31/2013 05:52 PM and is a permanent record located here: http://www.ripoffreport.com/r/World-Financial-Group/BURBANK-California-91502/World-Financial-Group-Jake-Hastings-Mark-Quann-Michael-Wooderson-dont-tell-you-all-the-1071896. 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:
1Author 1Consumer 0Employee/Owner
Updates & Rebuttals

#1 Author of original report

REQUEST TO REMOVE EARLIER POST

AUTHOR: Rhythm Dancer - ()

It bothers me that there appears to be no method to delete any earlier posts.  I received a call from someone named in my original complaint, and now that I think about it, what I wrote may have been an unfair assessment.  

Regardless, over a year later, I find myself possibly wanting to continue working with WFG as an referring agent, so ironically, my earlier post could serve to hinder my own success. 

That said, I do invite others to have a good look at WFG.  Get to know the leadership and who you will be working with if you choose to work with them.  Know that you are responsible for your own promotions, however, "your leadership does owe you a good example," as they say in WFG.

What I did say earlier is true, about the $100 application fee.  The costs go to run the company, and I'm not sure if it actually covers a background check.  Thus, WFG reps -- no matter who they are -- should not tell you that the $100 covers a background check.

There are e/o fees involved no matter where you sell insurances/financial products.  I could have asked for more details about that, however, I was eager to sign up when I first heard about WFG and I didn't ask to know all of the costs involved.

I'm not sure what else to put here, exept that anyone named in the above complaint is forgiven on my end.  I hope they understand the frustration I was experiencing when I initally left the office, and that my posts do not negatively affect them.

"Ryhthm Dancer"

 

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#2 UPDATE Employee

World Financial Group is an amazing company

AUTHOR: RasaP - ()

I work at World Financial Group (WFG).  I've worked at WFG for 10 months now, full-time. It's an amazing business.  I've already made around $10,000 in it.  Every year my income is going to grow because we have an amazing training program that teaches associates exactly how to grow their income.  Once I have kids, I plan to do what many women at our company do and take time off work.  But the paychecks will still keep coming.  The best way to do business at WFG is to build an agency.  Then you help more people with their finances, you give an amazing career opportunity to more people, and you grow rich while not having to work.  One out of every 79 full-time workers at WFG earns over a million dollars per year.

To start a Starbucks franchise location, it costs several million dollars.  To start at McDonald's franchise location, it costs about a million dollars.  To start a WFG business, it costs less than $500.  Is this a lot?

-Rasa

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