• Report: #897081
Complaint Review:

first financial Security

  • Submitted: Wed, June 13, 2012
  • Updated: Tue, February 26, 2013

  • Reported By: gally — st. paul Minnesota United States of America
first financial Security
Norcross, Georgia United States of America

first financial Security First Financial Security is a scam. I have the detail and proof! Norcross, Georgia

*Consumer Suggestion: Resolution

*Consumer Suggestion: Curious

*Consumer Comment: IUL Policy Owner

*Consumer Comment: Experienced salesman

*General Comment: Due Diligence is your responsibility

*REBUTTAL Individual responds: A FFS Satisfied Client

*UPDATE Employee: FFS is NOT a SCAM!!!

*UPDATE Employee: Ffs is not a scam by any means

*UPDATE Employee: Advice

*UPDATE Employee: FFS is not a scam

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To all you people..... who want to join First Financial Security aka FFS, This is the timeline of what you have to go through when you join .

I got tired of my cousins and friends in Minnesota telling me to join FFS so I decided to do tremendous pain staking research on the company and its structure. But it was kinda fun - so enjoy. First they do switch and bait. They tell you that you only need 125 and your set. Wrong!

The real price of getting in this business is around 1000. 125 for the membership with FFS. you pay 150 to your life insurance application. then 30 for each test. then 600 for the insurance to sale the insurance. they don't tell you any of this. - application and fees varies by state but 1000 is the ballpark.

They constantly pressure you to go to their convention. They hold it in nice hotels but remember you are paying 25 which mean you are paying for the place not them. Ohh yeah, they will pressure you when you go to their meeting. It's not like those timeshare in Vegas where they pressure everybody.

more like 5 to 10 people on stage pointing at you and your friend that you making a big mistake not joining FFS. This is possible because 90% of the attendants are already member. They will make you feel super uncomfortable (just like in high school- so if you want that feeling I encourage you to go) but when you give in and join they act like your best friend.

The licensing process usually take minimum of 3 months, if you pass on the first try. While you are trying to study for the test, your upline will continue to pressure you into giving out your clients to them. In the training part (which 99% of people who joined have to go through except if you are the top guys real friend) they give you 30% of 50% percent which is 15%. the 85% goes to your trainer and their upline. You have to do this until you made 6000 in total. So after training, you made them 5100 and you got 900, and that if you get the license! If not then they keep the whole $6000.

They have this saying in FFS,  they will recruit anybody and "let the system filter it out". It just another way saying that they going to scam you by not telling you the real cost of starting and use you to sell life insurance to your friends and relative. It basically cost 1 grand to start the business and if you fail the insurance test, that's ok because they already sold insurance to all your friends and family plus got some of them to join.

After you get your license, you get soo desperate (because they exhausted all the people you know that will buy life insurance in the training period) you start doing what they are doing. Youstart lying to people that it only cost  $125 and let the system filter them out. it's a vicious cycle. they are basically parasite. Walahhhh.

You became a crook, a liar, just like them.- and to your own brother, sister, relative, and friends.

Trust me they recruit anybody including : gangster, FOB, gogo dancer,  basically people dumb enough to believe them. So if you want to keep you professional image then you shouldn't join. They even got some doctors joining them too . I guess those doctors didn't do their research and fell for it. They look for people who are unemployed and desperate for a get rich quick. These trainer will act like your best friend. They will come stating that you are somehow related to them and they are doing you a big favor. If it was such a great opportunity then why is it only us lower class Asian descendent doing it? Why do you think not a lot of white are in FFS? Because they are smarter than that. Because these trainers cannot us these tactics on them.

Their system is made to fail. That's why they are listed by the federal government as a pyramid scheme. The government already did the math and the math is that the top guy will make the most money  and the bottom guy will work their a*s off for bread crumbs.

And about the equity share they have people rooting for. It's a scam too. When you make 100k from 15% -30% percent commission then you probably made your top guys 700k. The main people have already diluted the share of the company. When you finally get your 100k to qualify you probably get like .0001% share because Gillies would already have 7 million in share plus everybody else share which is probably another 15 million it will get diluted. It's good to have high hopes your financial dreams, just not in other people dream.

People state that Gillie is such an genius and a leader, but he started in this business with 95% (yes it was given to him). For example: If you sell one  life policy you get 30%. He will get 95-30= 65% if you are directly under him. Gillie didn't do anything special he just hype people up. He got there by lying to you about the $125. While all his follower are praising him. 

Ohh! and the Gillie taunt that they do at the convention- well it came from WLG. FFS will tell you that you can build a team so don't worry about the 30% it's better than working by yourself for 100%. But the thing is you can go to any insurance broker and start with 90% to 100% and recruit people to work under you for 30% or whatever price you setup (in insurance business -these people are called subagent, in FFS these are call you downline). Just don't tell them that they can do the same. In a legit insurance firm, the people who get the 100% who hired you as an subagent usually pay you E&O insurance and pay for your office space but not in FFS.

"ohh yeah did I tell you they promote all their real friend to make it look like they worked really hard but they are just leaching from you. They are getting 70% to 85% from the beginning but they won't tell you this . They tell you they work from the bottom up but they really laughing at how hard you are working, I know this because one of the top guy from told a girlfriend  of mines when he was trying to flirt with her, while he was drunk ( he was telling her how rich he was) at a party"

Some of them really believe that it is not a scam. Well who are those people. Just remember you working under someone who lied to you from the beginning about joining for 125 and encourage you to do the same to all your friends because the business cannot survive without them doing a switch and bait. And if you ask them later when you see the true cost they will tell you that they thought you already knew - as if they were really surprised. But since you guys been hanging for a month now and somehow you are related then it's hard to yell at them and it's too late to go back because you invested soo much time in it. In your head -Just a little mistake that they made I'll let them slide . But in their head they knew that they got another sucker. I bet they get the "why didn't you tell me about the 1000" all the time.

This is what going to happen to you when you go to their convention. You will get all hype up! You will get pump up! Then when you come home you start getting desperate and desperation leads to lying to your friends and family. Yes you will make money. and it's only going to cost all your friends 1 grand each and probably a lifetime of friendship. That's why they pressure this everybody to go to these convention.

They will tell you story like look at this lady she barely know how to speak English and she is making over 200k. It's because she didn't know that she was switching and baiting all her recruits. The really successful people in FFS don't know what they are doing they just recruit. They recruit like crazy and let the system filter these people out. can you imagine how much 1 grand did all these Hmong people lost if we all add it up?

And the  Brian Moua (Gillie older brother) guy in FFS that state that he is the farmer who became rich from FFS don't believe him. Brian Moua was the guy who was in charge of all the Hmong portion of WLG "who refinance most of all the Hmong people house before the housing crash. WLG is a pyramid scheme just like FFS. He made millions with the pyramid scheme and now he switch boat and tell people that he was a farmer. But there is some truth to that, all Hmong immigrant are farmer from the beginning. It's just weird how he didn't state that he was one of the top guys who made millions at WLG. - thanks drunk guy for comparing yourself with him ( you know who you are LOL).

This is information was gather from several former FFS , spectators, and me. These are real experiences not something I made up. The people that I got this from were really emotional about what they went though. They bluntly express their hatred for the company. Don't believe me. Go find out yourself and join. Then try to get your friend to join under you for 1000. Wait,  they won't join? OK how about 125 to get in. Much better huh?

Don't let these people in your house. Don't let them near your friends and family, because they going to trick them. And if you do, your friend and family are going to be calling you all day about joining FFS. it's a infectious lie that promise people false hope

In conclusion, Yes you got scammed again. And yes by your own Hmong people again. But don't start hating. You just have to do your homework and be smart about it in the future. To all you Hmong girls be skeptic and do your homework before you believe what they tell you. It alright you live and you learn. if you found this information useful please forward to all your friends and relatives who would like to save 1000 - though Facebook, text message, mail, email whatever we use now. Print it out and give it out at the flea market, Hmong village, MN 4th of July, Hmong New year. If you already spent that 1 grand and went to hell of a ride with no profit my hearts goes out to you.

To all you people in upline who made profit off FFS. LOL. you know what you did or too dumb to even notice. To all you FFS defender: please do your homework before accusing me. you know I'm right but I'm costing you your recruits so don't make lies about FFS to make it look good. I'm not saying all FFS people are bad. I'm saying that the FFS system is bad. The switch and bait technique is bad and illegal. Lawsuit! LOL. And if they told you the truth from the beginning they would have never gotten you to join FFS.

Money make people do some weird things . Stop this infection in the Hmong community and spread this letter to everybody you know.

This report was posted on Ripoff Report on 06/13/2012 01:30 PM and is a permanent record located here: http://www.ripoffreport.com/reports/first-financial-security/norcross-georgia-30071/first-financial-security-first-financial-security-is-a-scam-i-have-the-detail-and-proof-897081. 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 Suggestion


AUTHOR: #insuranceuser - (USA)

I found out the information I was looking for on "First Financial Security" I think a lot of this stems from a report from last year. , gpo.gov/fdsys/pkg/USCOURTS-mnd-0_14-cv-01843/pdf/USCOURTS-mnd-0_14-cv-01843-0.pdf

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#2 Consumer Suggestion


AUTHOR: #insuranceuser - ()

There are several companies I have heard of. I think First Financial Security is one of the better ones. Seem to have good products. Haven't personally used them but would let someone talk to me if they wanted.  

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#3 Consumer Comment

IUL Policy Owner

AUTHOR: C Lor - ()

Think of any business, you start at the bottom and work your way up. Employers will need a manager so some may get it off the back with good morale. Same concept. 


There are two types of people who handle new information: one who takes it in as false and another who can create an idea from that. 


Please keep in mind, successful people talk about ideas, not people. 


As an IUL policy owner. I fund a great amount into this. Of course, I was once the not knowledgeable in this field. With the policy, I won't lose with the market and I will get to take it out anytime without being taxed??? I baaically get a free death benefit?? It's too good to be true. But just like how I am, ideas came in mind and I jumped for it. I started funding this account and I could access it at anytime, finally seeing how it works. I finally decided to learn how the strategy works. 


TAMRA Act and the Seven Pay Test means the policy can not be funded any faster than seven years of equal installments. If it conforms to this, you can access this tax free via withdrawals and loans (a loan on your money). Basically it's how banks make money, but now you're the banker. 


After awhile I decided to jump into FFS. I learned a bit more on how the product works and I love it! As far as the business side, it's like any other business. No one will hand you it. Starting a business myself, it took me years to design my idea and currently pending patent. But this definitely is opportunity to anyone who is willing to be open minded and yearn to learn more in life. I believe you stop growing when you stop excepting to learn. 


Life is what you make it. Don't be afraid to try, worst case. You had a learning curve and now you know how to correct it next time around. Happens in business a lot, most people go bankrupt before making their first million. 

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#4 Consumer Comment

Experienced salesman

AUTHOR: HMong - ()

As a Hmong male who already has years of experience in sales.  I do agree with the writer of this report.  No I don't think FFS is a scam.  But the honest truth is, you will be screwing over your own people.  When I was recruited to FFS,  I played dumb and see what they had to offer, of course they pitched their asses off and made it seem like all you had to do was pay $125 and you'll start making thousands.  When the real cost was much more.

But once I started asking "her" the person in Fresno's FFS office the hard questions, she pretty much didn't know what to say.  If you have experience in sales, you'll know that they are dodging all your questions by doing the "give and take away" techinque.  That along made me wonder why they are recruiting anybody they can.  Because it's a quick way to make money off of you. 

But I still thought about it, because I had experience in sales and I thought this could be easy money.  But I did more research,  what I couldn't get pass was f****** over other hmong people.  We should be helping out our Hmong community, not trying to make a buck of them.  All of our elders who can't speak English, of course they're gonna buy any cheap insurance they can off other Hmong persons who can sell it to them.  Because they don't know any better.  

 So no, FFS is not a scam, but believe me, everything you worked for and earned will go to the people above you.  While you make (if you don't know and thinks its alot of money) a small percentage, they will make twice as much of you.  What makes it effed up is that they lie to you to whole time and act like your best friend.  

 So if you don't mind getting lied too, and screwing over other Hmong people.  FFS will get a great fit for you.



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#5 General Comment

Due Diligence is your responsibility

AUTHOR: RAS101010 - ()

 I find this complaint to be without merit. The company has clear guidelines on the requirements of being licensed in life insurance and in some states..annuities. All the companies that partner with FFS also require specific product and annuity training. NEVER has it been inplied that they or the director bringing you in would pay for licensing and classes. If someone said they would then your issue is with them and not the company. Some insurance companies do pay the costs, but they also require you to be full time, captive, and if you don't produce..your shown the door. FFS also clearly spells out about the initial cost of $125 for administrative (refunded if you complete your licensing and training sales within 90 days)

All this costs are tax deductable as you are paid on commission.

Sorry that you did not think before you became a partner, do enough research, or it did not work out the way you hoped, but you certainly were not ripped off. The tooth fairy isn't going to leave you money to educate yourself, develop a business, and pay for the required licensing and education. If you went into real estate or opened any type of business you will have initial overhead then as well. 




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#6 REBUTTAL Individual responds

A FFS Satisfied Client

AUTHOR: sluu - (United States of America)

In reference to the person commenting on being a previous agent in FFS finding it a scam is a truly a misleading article. Like any job or business if one does not applied one selfs it will not matter what companies or job that you work for.. You will be a very disgruntled person. What you have to look at above and beyond is two important factors, one is the insurance carriers that they represent whom provides outstanding products and services. I am a client and so is many of my friends and families who sees their Index annuity returns earnings real returns over 18% or more with no downside risk not including the compounding life time income 8% that guaranteed when we signed up for the products 3 years ago. As far as the life insurance the living benefits that had been provided while they are in need of long term care is real and I have seen the benefits being utilized. FFS is using a mlm model to reach out to clients just like most other mlm companies do ..so does that means it is a scam for all? Just happens that if you research on Mr.Warren Buffett whom himself owned several mlm companies. I believe Mr. Buffeff sees the values in its distribution channels. If you are a fair individual and smart enough to know, please evaluate all aspects before jumping to conclusion. Well known insurance companies (160 years of experience) or more would not jeopardize their reputation to be affiliated with FFS if its not to their best interest. The bottom line if the products and services are in need by the consumer, do I really care how I was introduce to it? As a client, I want to make sure the contract is between me and the well known carriers that I am doing business with and they have great ratings with AM best and is approved to conduct business with the states laws and regulations. Last, please keep in mind when reading these reports there are always two sides to the story.. And this is mine from a happy client!!!
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#7 UPDATE Employee

FFS is NOT a SCAM!!!

AUTHOR: Tom - (United States of America)

FFS is not a scam. Its a business opportunity. If you are not willing to put in the time and effort then your business will not grow. Your business will fail! A business does not run by itself. If you are not willing to put in the time and effort then this is not the right type of work for you. You might as well stick to your 9-5 JOB. This is for people who want to better thier future and have dreams. For $125 for a back office and $60 for your state license and $300 for your E&O insurance is a pretty cheap business start up. Anyone with the right business mind would know that you can not start a business for that kind of money. This is not a get rich quick business. It takes time to build your business. If it was a scam then why do you have to go get your life insurance license from the state? Why do the federal commissioner and state commissioner regulate the laws so heavily? Ask yourself these questions? You can't just blame a business that is allowing individuals the opportunity to get away from a JOB to work for themselves. When you failed. To run a business properly it takes a set amount of skills to be successful. The Statistics of the life of an successful business is 5 years if you can make it that far then your business will grow. Just ask any business person out there what the initial cost is to start a business? It would cost from 60,000 - 1,000,000. I know the cost I use to own my own restaurant. $120,000 start up cost, $1900 a month rent, $6000 a month payroll, $1700 payroll tax, $3500 a year insurance, $30,000-$50,000 a month food cost, $100,000+ tax. This is just some of the cost to run a business. This is just my opinion. Its not for everyone. But for those who are looking for the opportunity it is worth your time. Hard work pays off in the long run! If your lazy you will not go anywhere! Plain and Simple.
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#8 UPDATE Employee

Ffs is not a scam by any means

AUTHOR: sluu - (United States of America)

For someone to say ffs a scam really insults all 50 states insurance commissioner for approving legitimacy of being licensed in life and health. It also insults some of the biggests insurance companies that has been around hundreds of year who currently providing these services that you called scam.. It also insults most educated consumer who consist of many proffessional folks including Judges attorney , government, companies, corporate Fortune 500 who currently do businesses with First Financial Security sgent. So please do not prejudge who Ffs is based on the misguided and unfortunate lost soul who has no idea a legitimate businesses as as this one.
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#9 UPDATE Employee


AUTHOR: twin cities - (United States of America)

In regards to Gally's post, I find that He/She have a lot of falsifying and misleading information.  If you find this as to be such of a scam as you say, then why not contact the police, a lawyer, the attorney general and BBB??  But as most of people out there that complains about this Company and say misleading and deflamate this company, have really no credibility and would never want to do anything legally because they know they would be in the wrong.  People try in life and fail and guess what, we move on.  I guess in Gally's defense is that He/She joined and probably wanted easy money and found out that this aint no get rich scheme like he/she thought.  So as someone fails of course we are going to point fingers.  If life was design to be fair and good, we would all be rocket scientist and doctor's, but some try and majority fail.  This is a part of life, and as soon as you realize this than you will be okay.

And as I try to understand your post I understand that you are telling people what you did to decieve people and when that failed you blamed it on the company.  Read your post cleary.
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#10 UPDATE Employee

FFS is not a scam

AUTHOR: TY - (United States of America)

This rebuttal is entirely my own opinion, not that of FFS.  It's not endorsed, sanctioned nor approved by FFS in anyway whatsoever.  As I read through this, I think the article by sister Gally was not accurate and does not represent what FFS is all about.  First of all, FFS is just like any other business.  It has its own way of doing things and it has been successful serving its hundreds of thousands of customers so far.  For one person with bad experience with FFS to label is a scam is not only unfair but plain wrong.  As an FFS agent, my experience with FFS is entirely different.  Of course, the company is always good.  What may be bad could be certain individual agents.  So, just because Gally does not like FFS does not make it a scam.  FFS is designed for business builders.  If you are looking to become an individual insurance producer, it's not for you.  You may be better off going directly to the carriers and get higher contract.  With the higher contract, you will be missing out certain benefits such as a tracking system to track your people and your money, a quality control system to take care of your applications, a business building system that runs your business, etc.  We choose to be with FFS and accept a lower contract because the benefits from FFS far outweigh the costs.  If you are greedy to the point that you want everything for yourself, you have to pay for everything yourself too.  The FFS system does filter out individuals whose interests may not be compatible with what FFS offers.  That's what FFS successful.  Every legitimate business requires investment--time, efforts and money.  If you are not will to pay the price, you are destined to fail.  And you will work for other people for the rest of your life. You may make a living but never a fortune.  I believe that what sister Gally was looking for was a get rich quick scheme (which was often illegal pyramid scheme where money flows from customers to the agents and the company and nothing flows out from the company and agents to the customers).  When she found out that FFS was no such thing, she got disappointed.  Of course, she has every right to express her opinions (free speech) as long as what she says is true.  To label FFS as a scam and claim that FFS has been classified by the government as scam is unfair and plain wrong.  I believe that's call defamation and libel.  FFS is a company with a culture of high integrity that will not tolerate any unethical or illegal behavior by its associates.  
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