• Report: #985732

Complaint Review: WORLD FINANCIAL GROUP

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  • Submitted: Fri, December 21, 2012
  • Updated: Fri, December 21, 2012

  • Reported By: JB — Torrance California United States of America
WORLD FINANCIAL GROUP
135 W Magnolia Blvd. Burbank, California United States of America

WORLD FINANCIAL GROUP TRANSAMERICA. $100 for background check Burbank, California

*General Comment: The Truth About WFG - World Financial Group

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Stay away from this company WFG First of all the interviews at 7pm to ?  

Why because they are making a $100 off of you they are not running a background check trust me. These natives are Actors a disgrace at best, I wonder how you lay your head down at night or look yourself in the mirror meaningful that your scamming people, citizens that have worked their whole life only to fall victim to a awful economy and have lost just about everything
and here they are looking for a job to put food on the table and a roof over their heads only to be taken benefit of by ordinary junk. WFG youre nothing more than con artists and should be put out of industry for good. You should be embarrassed of yourselves.

This report was posted on Ripoff Report on 12/21/2012 09:06 PM and is a permanent record located here: http://www.ripoffreport.com/r/WORLD-FINANCIAL-GROUP/Burbank-California-91502/WORLD-FINANCIAL-GROUP-TRANSAMERICA-100-for-background-check-Burbank-California-985732. 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 General Comment

The Truth About WFG - World Financial Group

AUTHOR: - ()

The author of this post made all these negative comments about WFG and then later on posted again saying that WFG is not a bad company and that they only made negative comments because they were frustrated that it was taking a long time to get their license. 

First of all, your licensing comes from the State of California... not WFG. Maybe you didn't study for your Life Only exam and didn't pass and that's why it was taking you a long time to get licensed.

They are not making $100 off of anyone. The $100 is to get your backpage on the WFG website so you can log in and keep track of your activities, points, commission statements, team, reports, list of products, training, webinars, etc. And most importantly, the $100 gets you an agent code to get appointed with all of the Providers so that you get paid. Without your agent code the providers have no way to pay you.

You say WFG is a scam? Let's see:

WFG is owned by Aegon, a multi-billion dollar company that owns Transamerica (founded in 1928). WFG represents huge companies such as ING, Nationwide, Prudential, WRL, Franklin Templeton, Pacific Life, just to name a few.

These are well known and reputable multi-billion dollar companies. If WFG was a scam these companies would not have WFG representing them or their products.

Also, the insurance industry is highly regulated by the state and if WFG were a scam then they would have been shut down back in the early 90's.

Most WFG agents started out as part time while working their full-time jobs and ended up going full-time and quitting their day jobs because they are making 2,3,4 times the amount they were making at their original jobs.

Most people don't understand the business model of WFG. They think that they are going to come on board and earn a steady paycheck every week like a job (it's not a job... it's a business opportunity). Then they find out that they have to put in time and effort to build a business. These are employee minded people that are not cut out for owning a business or being self employed. They get fustrated because they fail and end up quitting because they weren't making any money and they go on the internet and make negative comments. 

They want to call it a pyramid and a scam and everything else. The truth is... you have to build an agency the same way a real estate office builds an agency. The more agents you have the more real estate you can sell.

If you want to talk about a pyramid... let's talk about your full-time job. There is a person at the very top who makes all the money and then it trickles all the way down to the employees at the bottom who get paid a very small percentage of what the company makes and what the person at the top makes. That sounds like a pyramid to me!!!

Want to talk about a scam? You go to work for 8 hours a day. In that 8 hours you have to be told when you can take your two 10-15 minute breaks and 30-60 minute lunch. You have to have permission to go to the restroom. You need permission to take a day off. You need permission to stay home sick. You need permission to take a vacation. Your web activity is being monitored. You can't come and go as you please. You have to follow a dress code. 

You're making the company richer while you have a limited income and only get a 3% annual raise. You put money into a 401k while your company borrows it and invests it and pays you 3% interest while they keep the other 97%. "But they match me dollar for dollar". Yeah, they write off every dollar that they match you and you end up owing the taxes on it. That sounds like a scam to me!!!

With WFG you:

  • own a business
  • are your own boss
  • make more than your boss at your job
  • make unlimited income
  • have access to the best investment vehicles
  • make your own hours
  • travel at the company's expense
  • get free business training

 

My advise to anyone who is exploring an opportunity at WFG: Don't take the advise of someone who tried the business and it didn't work for them so they went and wrote up negative comments online.

If you were choosing a college would you take advise from someone that dropped out because it was too hard for them so they went and wrote negative comments online? 

If you were applying for a job would you take the advise of the person that got fired for not doing their job and then went online and wrote negative comments saying that the company is bad, stay away?

There is always going to be negative people in the world that will write negative things online just because something didn't work for them. 

 

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