• Report: #127623
Complaint Review:

Wfg - World Financial Group - Universal Lending - Aegon - ComUnity Lending - Global One

  • Submitted: Sun, January 16, 2005
  • Updated: Thu, April 24, 2008

  • Reported By:san jose California
Wfg - World Financial Group - Universal Lending - Aegon - ComUnity Lending - Global One
3550 Stevens Creek San Jose, California U.S.A.
  • Phone:
  • Web:
  • Category: Loans

Wfg - Wma - World Financial Group - Universal Lending - Aegon - ComUnity Lending - Global One, A scam that robs you of your life, friends, family, money and dignity RIPOFF San Jose California

*UPDATE Employee: skeptics are always broke and lossers blame others for failing

*Consumer Comment: The Aegon connection...

*Consumer Comment: Recruiting

*UPDATE Employee: Concerned Friend

*UPDATE Employee: Wow, just wow.

*UPDATE Employee: Check out Facts - Head Office - World Financial Group

*UPDATE Employee: Please do not generalize among the companies

*UPDATE Employee: It's all about work

*UPDATE Employee: Yes, they suck, and I still work with them. Here's the good, the bad, and the ugly on them:

*Consumer Comment: GLOBAL ONE WMA WFG AEGON WLG HUBERT HUMPHREY ..I hope the government cracks down on these cults

*UPDATE EX-employee responds: My thoughts...

*REBUTTAL Individual responds: I recieved a urine test in the mail?

*UPDATE Employee: Get the name of the company right, then get the facts right

*UPDATE Employee: CLI is just an affiliate

*Consumer Comment: Pushes VUL products to everyone, regardless of their situation.

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Alright, here it goes:

Yesterday I returned home to do some research on a company called WFG for which I was working. I had spent my whole Saturday at a Leadership Summit Meeting at the Crown Plaza by San Francisco Airport, literally 12 hours!!!

Now, I did a lot of extensive research on World Financial Group, its founders, and companies like it and have to tell you right off the bat that this in fact is a scam.

The meeting that consisted of rants about having to "obsess" about recruiting people, making 10 calls before noon to family and friends to sell their extremely uncompompetitive loan and life insurance programs.

This meeting costs $50 if you fell for it early enough, but after the short cut-off margin of time, the meeting had cost $75 for a lot of people who went.

The motivational speaker boasted about his 7 figure income and how this is a business opportunity, just recruit your loved ones!

I responded to an ad on Craigslist.org (a great site otherwise), promising a NEW YEAR CAREER, and free training to become a loan officer. Boy, they really string you along.

The blow steam up your fanny at the interview, and ask you to come to a "Mozone", cheesy, hyped-up, schmooz, repetative, brainwashing meeting on a Tuesday night. It's weekly and it's madatory along with tons of other brainwash meeting that just go over the same ideals of self promotion through a multitude of new recruits.
They really do prey on people's gullability and turn you in to a zombie who is obsessed about spewing out sales pitches to all people who listen. The person who makes this their career is not making any more money than they could at a $5 an hour job and turns into an introvert.
I had to pay $100 for a background check.

They told me that human resources was going to send me a letter and then I had to go take a piss test. I've worked there for 2 weeks and I never got that letter. Wanna know why? Because there is no conventional HR department or else they'd be doing the hiring THEMSELVES.

In two weeks of them marching me into their office in slacks, a tucked in shirt and a tie on ( FOR CRYING OUT LOUD!!!) and being "trained" from only 9:30 to 11 or 12 noon, never did I once hear about their loans or their insurance rates, no quotes, no business talk. It's a crazy office. I wonder if the loan processors in those tiny offices along the hallway knoe about the breeding frenzy of lemming recruits in the meeting room down the corridor. I mean, the Seniors that recruited you must all have sold life insurance or loans a few times over to people close to them. They are asked for referrals.
They even will try to recruit your old employer on the initial reference call!!

They want to charge you $45 for a bogus certification called "mandated survey" course at learning.net
Any retard can pass that. It was 97 pages of material mostly on common sense ethical questions that are simply there to reinforce the company's crumbling facade of credibility. I passed with 97% correct, but you only need 70% so that the disadvantaged still can pass and recruit their family and friends.

I paid $7 for a "bible" of company procedure. It was the bible of the company, everyone needed to have one.
Thank god I got out before it's too late.

THe Marketing Directors at the company that answered my questions on how long they've worked there were between 3 and 6 years there, all eager to move up.

At the Leadership Summit, Bill Mitchell, a founder (who breezed past the part of the Company's history around 2001 where they underwent a corporate restructure), was a CEO of a highly embattled, often times sued company owned by Citigroup. He told everyone at the Meeting in that hotel that he came from a humble background earning $60k a year until he thought of this idea with the help of his buddy, the motivational speaker #2 and worked off of the side of his desk in a 2 room office.

Upon further research, he's scamming anyone who won't do their own research. Lord knows how much bs they feed each other about where they'll be if they only did this.
They showed us pictures of the Company villa in St.Martin and if you got 100,000 points you could go there. You get 2,000 points per loan.

It was the most tacky, unprofessional, unrehearsed, senseless seminar I've ever been to. And I've been to a lot of seminars.

Everyone who works there long enough must take themselves seriously enough to consider themselves a loan officer and must have engaged in conversation or browsing other competitior's ads and quotes and must at one point or another have realized that they were selling uncompetitive programs that any neighborhood bank can beat to their loved ones.

I read that after 30-45 days of you working there and being comfortably engrained, they cancel your ongoing loans. That leaves you looking for more and cuts you out of the deal. That client that you brought in will be contacted by your "mentor" or one of his affiliates and they will recommend to them a better loan from a better company. Guess what? Another dummy company operated by these Hubert Humphrey, Robert Do Quinn, Bill Mitchell pyramid scam people.

Anyways, please report your own experiences and stop anyone who isn't in too deep yet...if they are, they won't listen, because they got a friendly "community" at work.

I got no education, they knowingly made me wake up, dress up, pay them, waste my time and gas while acknowledging that I was in "survival mode" and they wanted to meet my fiance and go over the company with her. All BS!

WMA, WFG, Global One, Aegon, Universal Lending, ComUnity Lending, they're all around the copuntry, really have thousands and thousands of low-leverl, sipensible, unimportant little working ants, and THEY'RE COMING TO A TOWN NEAR YOU!!

sorry, allowing you to give a competitors name would instigate others to just file against their competition, to only come back later to suggest their company your comments on this policy are welcome! CLICK here to see why Rip-off Report, as a matter of policy, deleted either a phone number, link or e-mail address from this Report.

san jose, California

Click here to read other Rip Off Reports on WMA Securities

This report was posted on Ripoff Report on 01/16/2005 05:34 PM and is a permanent record located here: http://www.ripoffreport.com/reports/wfg-world-financial-group-universal-lending-aegon-comunity-lending-global-one/san-jose-california/wfg-wma-world-financial-group-universal-lending-aegon-comunity-lending-global-127623. 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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Updates & Rebuttals

#1 UPDATE Employee

skeptics are always broke and lossers blame others for failing

AUTHOR: 6 figures - ()

What ever you read must be true because it was posted on the Internet..


First let me educate.


WFG doesn't SELL insurance.

Large billion and trillion dollar credible insurance companies such as prudential, Pacific life,  nationwide, and the owners of the largest building Downtown San Francisco Transamerica what they do is create products, vehicles, strategies to help the large middle class population start to save for their future, plan ahead,  get debt free, and establish security for your love ones.


WFG is in the business of distribution,  their job is to Taylor these policies to the clients needs since they can work with around 300 companies. To Provide people with a foundation to their strong Finacial hoin me we all work very hard for. You know why you won't be in a better situation financially because you listen to the broke guy in the cubicle next to yours and you get goverment accounts like 401k and you doubt and question someone making 6 figures. 


You go ahead and keep putting your money in the bank that gives you  .08% interest in return. And contribute to a 401k that when you pull your money out 50%of it will vanish. I would like to know who was the idiot that saw potential in you yo even invite you to an office he should get fired. 


You are right,  what your doing Is alot better... Help build another man's empire, tell your kids to don't dream and go slave away so another man can live his dreams.  I'll end it with this "pyramid or not 125k my.first year, I save alot more than I ever did i spend time with my kids, and St martin was awesome.. Your broke a*s will never travel out of the country you think going to lake Tahoe is awesome.  I think you need to rethink your life..  And remember if you want to come be part of the team let me know I'll get you under me so I can make more money 

. Hahaha broke joke... 


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#2 Consumer Comment

The Aegon connection...

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

Well, Melissa, that would be news to them. These are excerpts straight from their training materials (scripts):


"OBJECTION: What is it? What do you doetc.
That's a great question! Are you familiar with a company called Aegon? Aegon is the Fifth largest company in the world with over $250 Billion dollars in assets. Have you heard of companies like Transamerica or JC Penny? Aegon owns both of those companies as well as 86 other companies. What we do for them is handle the upper to midlevel management for most of the Fortune 500 financial services companies. And like I said, I have no idea if there will be a fit on either of our parts, I just think it would be of great benefit to both of us to get together and meet."

They are certainly tying themselves to your company, so you can't really blame people for lumping them together.
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#3 Consumer Comment


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

Regardless of all else, the fact that they tell people not to tell their friends and family members the name of the company or what they do so that they will show up to the "interview" is red flag #1. The fact that this company's representatives call people and make it seems as though they are going to conduct a legitimate interview when in fact they will be subjected to one of these meetings is #2. The fact that as a recruit, you will be required to give them any amount of money in order to work for them (whether you think it is an insignificant amount or not is irrelevant) is flag #3. Flag #4 comes up when a recruit is forced to purchase a VUL for themselves-a poor investment, especially for young people without families. #5, instead of giving recruits product knowledge or leads, they must now pester their family and friends into purchasing the same VUL policies. If 5 red flags don't stop you from signing up, well, it's going to suck to be you real soon.
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#4 UPDATE Employee

Concerned Friend

AUTHOR: Concerned Friend - (U.S.A.)

I guess that's the problem with a business that offers low barriers to entry. We sometimes bring in the scum of the earth and actually try to show them how to run a business and change their lives. One thing is for certain, the person who wrote the previous message has never had any business experience.

I truly am sorry that your experience was a negative one. If you chose to find your false security in your little job, that's fine, but don't rip apart a sincere opportunity to help others (as corny as that might sound to a cool person like you). It is, after all, the livelyhood of thousands of people. When your company decides to ship your job to another country, as it is their primary job to maximize shareholder profits (NOT YOURS), we'll still be here with open arms. Willing to try to help you understand, in the midst of your insults.

Your Concerned Friend
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#5 UPDATE Employee

Wow, just wow.

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

Wow, I just can't believe the ignorance here. "This is a scam" and "they wanted me to sell" or how about "oh no, I had to talk to my family". I can, at least, understand not liking sales or not liking recruiting but here is the worst, "I had to pay $100 for a background check!" That cracks me up... No really, your totally right $100 is just too much money; it simply cannot be accumulated in such a short amount of time. (Or ever)

People, that's simply pathetic. Look at the name of the company. World FINANCIAL group. It will obviously involve sales of some sort, whether marketing referrals or some other method I haven't heard about. BUT this is not some pyramid scheme. I got news for ya pyramid schemes are ILLIGAL and cannot exist within the United States. I swear that if I hear "is this another pyramid scheme?" again I'm gonna... I don't even know, but let's leave it at extreme frustration.

And for those of you who have been with WFG and couldn't make it it's not because of the system or the leadership, its you. We get a HANDBOOK that tells us what to do and how to do it. See the reason you failed was something called laziness. No work ethic anymore. (Geeze I sound like an old man now...) I'm sure I will get a lot of emails about that last comment but I can't stand it when one can't succeed at something and then he blames it on that something. Take sports for example "football is too hard" or "I can't run, so I can't play soccer or run track..." ... ... ... ... I think my head might explode from all the crap.

Oh, and have you ever worked for one of those "reputable" companies? They make you buy leads to cold call or drive door to door and sell to people you've never met before. I've done that too and I gotta tell ya its nearly impossible. And if you don't maintain a certain number of points (production) they fire you despite past performance or future potential. AND, stay with me here, the first people they MAKE you contact is your family and friends. I'll repeat that, the first people they MAKE you contact is your family and friends.

I digress, but I'll finish up now that I feel I have truly offended some people. WFG really isn't a bad company, there will always be bad employees, situations or maybe very bad experiences but it is not evil or out to steal $100 from you. (Oh no, now I can't get that collectors edition of American Idol #5) Starbucks takes more money out of your wallet than WFG ever could, even if they tried. Get a life, get a job (maybe not WFG for the complainers) and move on.

And by the way, yes I do work for WFG but no, I haven't been brainwashed or held hostage to write this, no one paid me to do this. I didn't get promoted to say this. I doubt my marketing director will even see this. I just like my job and I hate it when people feel they have to ridicule and criticize and crucify us. If you don't like the job, quit, but don't spread propaganda like some adjectives that I won't publically say.
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#6 UPDATE Employee

Check out Facts - Head Office - World Financial Group

AUTHOR: Diane - (Canada)

The BBB reports on businesses, both accredited and non-accredited. If an organization is a BBB Accredited business, it is stated in this report.
Name: World Financial Group, Inc.
Phone: (770) 453-9300
Fax: (770) 447-7433
Address: 11315 Johns Creek Pkwy
Duluth, GA 30097-1517
Website: www.worldfinancialgroup.com
Original Business Start Date: June 2001
Principal: Ms. Susan Davies, VP of Agency
Customer Contact: Ms. Susan Davies, VP of Agency - (770) 453-9300
Employees: 350
TOB Classification: Financial Services
BBB Accreditation: This organization is a BBB Accredited business.

Additional DBA Names

World Group Securities, Inc.

BBB Accreditation Status

This company has been a BBB Accredited business since October 2003. This means it supports the BBB's services to the public and meets our BBB Accreditation standards.

Nature Of Business

This firm is a marketing company that serves the financial needs of individuals and families from all walks of life. Their mission is to help people around the world achieve financial independence.

Customer Experience

Based on BBB files, this company has a satisfactory record BBB Definition:

satisfactory record - A business identified in our report as satisfactory has, based on BBB files, been in business for at least one year, and has voluntarily provided the BBB with all information requested about the business and its product or service. If any complaints have been received about the business, their number has not been considered by the BBB to be extreme, given the nature of the company's business and the volume of business transacted. Complaints are also generally typical of what might be expected for this type of business. A business stated to be satisfactory has not been the subject of any recent law enforcement actions concerning its dealings with the public. If the business has been contacted by the BBB about its advertising or selling claims, it has modified or substantiated its practices to the BBB's satisfaction. In addition, the BBB has a clear understanding of the company's business, and the business is not in an industry which has raised significant marketplace concerns.
with the BBB. A satisfactory record BBB Definition:

satisfactory record - A business identified in our report as satisfactory has, based on BBB files, been in business for at least one year, and has voluntarily provided the BBB with all information requested about the business and its product or service. If any complaints have been received about the business, their number has not been considered by the BBB to be extreme, given the nature of the company's business and the volume of business transacted. Complaints are also generally typical of what might be expected for this type of business. A business stated to be satisfactory has not been the subject of any recent law enforcement actions concerning its dealings with the public. If the business has been contacted by the BBB about its advertising or selling claims, it has modified or substantiated its practices to the BBB's satisfaction. In addition, the BBB has a clear understanding of the company's business, and the business is not in an industry which has raised significant marketplace concerns.
means a company has been in business for at least 12 months, and properly addressed matters referred by the BBB. The company does not have an unusual volume of complaints, or any government actions involving its marketplace conduct. The BBB understands and has no concerns about the company's products, services and type of business.

When considering complaint information, please take into account the company's size and volume of transactions, and understand that the nature of complaints and a firm's responses to them are often more important than the number of complaints.

The BBB processed a total of 14 complaints about this company in the last 36 months, our standard reporting period.Of the total of 14 complaints closed in 36 months, 6 were closed in the last year.

Advertising Issues BBB Definition:

Advertising Issues - Claims alleging print or electronic media advertised claims or practices misrepresent the service or product offer.

Resolved BBB Definition:

Resolved - The company resolved the complaint issues.

1 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to the BBB.

Sales Practice Issues BBB Definition:

Sales Practice Issues - Claims of alleged sales presentations made in person or by telephone that contain misrepresentations of the product or service, high pressure sales practices, failure to disclose key conditions of the offer, and verbal representations not consistent with written contractual terms or agreements.

Resolved BBB Definition:

Resolved - The company resolved the complaint issues.

1 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to the BBB.

Service Issues BBB Definition:

Service Issues - Claims of alleged delay in completing service, failure to provide promised service, inferior quality of provided service, or damaged merchandise as a result of delivery service.

Resolved BBB Definition:

Resolved - The company resolved the complaint issues.

7 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to the BBB.

Refund or Exchange Issues BBB Definition:

Refund or Exchange Issues - Claim of alleged failure to honor company policy or verbal commitment to provide refunds, exchanges, or credit for products or services.

Resolved BBB Definition:

Resolved - The company resolved the complaint issues.

1 - Company resolved BBB Definition:

resolved - The company resolved the complaint issues.
the complaint issues. The consumer acknowledged acceptance to the BBB.
2 - Company addressed the complaint issues. The consumer failed to acknowledge acceptance to the BBB.
Administratively Closed BBB Definition:

Administratively Closed - The BBB determined that the complaint could not be satisfactorily settled using standard methods of voluntary dispute resolution

1 - BBB determined that despite the company's reasonable effort to address complaint issues, the consumer remained dissatisfied.
1 - BBB determined the company made a reasonable offer to resolve the issues, but the consumer did not accept the offer.

Report as of December 31, 2007
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#7 UPDATE Employee

Please do not generalize among the companies

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

It breaks my heart to see Aegon pulled into a WFG/WGS complaint. I work at one of the corporate offices and we have nothing to do with WFG other than processing their applications - and we complain about as much as everyone else. The paperwork is never properly filed (not even applications), compliance is always an issue and the reps are unreachable when we try to get things straightened out for the benefit of the client. Working for one part of the company we would have to field the upset and angry clients who found out too late that the investment they had was a life insurance policy with surrender charges keeping them from recouping anything. Some were even told NOT to read the prospectus or contract by the agent! (Now the fact that they didn't and still signed - and invested thousands of dollars makes me question their judgment but..)

By the time they found out their agent had left the business (after a lengthy career of about a year). They had little recourse and we were left to take the brunt of their anger and betrayal. So, please don't tie us in or blame us for their actions. We don'[t have control over them - we just do the damage control and do the best we can with what is sent to us. We are good people who do everything we can for those who choose to invest with us!
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#8 UPDATE Employee

It's all about work

AUTHOR: Wfg_ivy-leaguer - (U.S.A.)

There's so much garbage posted about WFG. Sure, there are people who have bad experiences, but in the end, it all boils down to working. Most people in our business just don't work. They show up to a few meetings a week and think that money's going to fall out of the sky. The fact of the matter is that, in sales, you have to work. The more productively you work, the more you'll be paid in the long run. That applies to any sales-oriented profession. If you take a look at who makes the most money in this world, it's those on the front lines bringing home the bacon. You observe any person in WFG making 6 or 7-figures (yes, there are several people who make this much) or even high 5-figures, you'll see that they really work. They work it like a full-time job. The only difference is that through compounding your efforts as well as the efforts of your associates, your income potential grows exponentially. How is this different from running a business where you keep hiring more and more people and everyone works instead of just showing up to meetings? It doesn't. Just go to work. When you finally put your nose to the grindstone and not only work in your business but also on developing your professional skills, the amount of money you can make in this business is tremendous. But, it boils down to one thing, working. And, unfortunately, most people in our business have a fear of doing just the thing that will yield them success, and that is working. Until you find a more cost-effective method of distribution in financial services, don't knock us. Instead, lament the incessant sloth that permeates much of the American working and middle class who spend half their day surfing the internet at work and call it a rough day. Certainly, the likes of the bulge bracket firms like Merrill, UBS, and Smith Barney have yet to discover a profitable enough method of distributing financial products on a massive scale. So, allow us to continue our market penetration so that the underserved don't get left behind while the wealthy continue to indulge in their financial freedom.
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#9 UPDATE Employee

Yes, they suck, and I still work with them. Here's the good, the bad, and the ugly on them:

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

Depending on the office you go to, you're gonna get screwed. Pretty much all the offices are evil and they just want your money. Innocent people get brainwashed, believe me, I've seen it. I can't tell you how many people on our "team" talk and talk and talk about the same d**n thing, "this business is good. recruit. you'll do good. this business is good. just recruit." like a broken record player. it's annoying. the only way to make money in that whole place is to step all over everyone. My own marketing director stabbed me in the back several times, and he's about to be surprised with something that i'm coming back with very soon. They're all liars. Once they're shown dollar signs, they turn into brainwashed weasels.

Why am I still there, you ask? Because the side money helps me. For those of you who are joined w/ them AND you have a life insurance license, i suggest you deal with blue cross and sell health insurance. and make sure that your application to be appointed with them states that you are applying as an AGENT, NOT A SUBAGENT. marketing directors put you down as subagents, and put themselves down as agents so that they can get a commission, too, when it's not necessary. That's a big head's up for a lot of you because I recently found that out.

All the products that this company's agents sell are legit. they're good products with good companies. it's just the whole concept of recruiting, following the "system", buying the "bibles" and what not, that suck about this company.

I can't tell you how much money and time i've wasted in the last 2 1/2 years hearing the same crap over and over again. this business is good. recruit recruit recruit. forget recruiting, you're gonna lose a lot of friends and family, trust me. i recruited one person and she moved away, we dont talk anymore but i didnt recruit anyone else because i'm not totally brainwashed. now my brain is washed from the brainwash. but anyways, they're terrible. like i said, it's not too late, take your insurance license and go to blue cross or another insurance agency. forget about and wfg and all these guys. and yes, they DO make money off of the background check. background checks cost 30-50$ maximum.probably not even that much, when they're taking $100 from you.

yes, you CAN make money here, but it's gonna be a challenge, you're gonna bump heads with other people, and it's gonna take a while. take my advice!!!
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#10 Consumer Comment

GLOBAL ONE WMA WFG AEGON WLG HUBERT HUMPHREY ..I hope the government cracks down on these cults

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

I hope the government cracks down on these cults because they are damaging our democracy and our free enterprise system. These crooks will take every last dime you have and then tell you to go recruit and build a downline. I am glad you woke up and smelled the coffee. Stay away from this group because most of them are robbing and scheming and using every loophole in the system they can find. They have no ethics unless they benefit them. I can assure you, the government is going to put these pyramids out of business once and for all. These corrupt companies damage families and family networks which are the backbone of America. They just want our money so that the guys on the top of the pyramid can live the life of Riley and laugh at us behind our back because we are the ones paying for their cars, houses and swimming pools. I think more great websites like Ripoff Report.com need to be placed on the web especially for this Hubert Humphrey crook and the like. All of the people in these companies are scamming each other because that is what happened to them. They are full of filth, lies and pollution. I heard most of them do not even have any moeny. They rent their cars and houses to make themselves look rich in order to influence you. They prey on the blue collar worker. I say unionize against these pyramids schemes and demonstrate at their rah rah rallies and conventions.
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#11 UPDATE EX-employee responds

My thoughts...

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

Ok, I signed on to be an associate of WFG about 3 weeks ago. I was too busy at my current job to really investigate the company, and I trusted my friend who "recruited" me. I paid my $100 for the "processing fee" and $35 for the "Fast Start package." I'm not hard up for money. I even paid $75 for the class to get licensed. So I didn't really hesitate to pay these. 1 week later when I told one of my close friends what I was up to, he proceeded to educate me on what was out there, and I really started opening my eyes critically to the WFG organization. So began my analysis of WFG.

So here's the good and the bad (all mixed in which is why it's difficult to judge this company. Ergo the heated rebuttals back and forth):

1.) First off, WFG isn't illegal and it isn't a scam. So all those who say it is, haven't done their proverbial "homework." However, it isn't for everyone and recruiters probably are overzealous in selling what WFG can do for you. You will only make it "big" in WFG if you have a magnetic, sales person like character--the type of character that will let you recruit hundreds under you.

2.) As someone with a business background, I was actually pretty amazed at how well the WFG playbook has been developed to manage people's inclinations. From a purely academic standpoint, I was impressed with how they've systematically mastered how to hook people in. It's literally in their "Fast start package." In the little time I spent with the company, I actually learned a lot about managing people depending on their personality (though perhaps this was specific to my team, which happened include highly educated professionals--think Ivy league and top business schools).

3.) My very first concern was the heavy emphasis in recruiting. I found it disturbing that I was just walking into the system, without knowing a god d**n thing about the products they offer. Someone explained that that's because they actually aren't allowed to teach you until you're licensed. I'm kinda willing to believe that...but if that's the case, I really want to know how they sell these products to unlicensed people. selling, teaching...either way you have to explain what you have to offer and why it's so compelling! So, why don't they pseudo sell us these products...that would actually be quite educational. Not knowing was just really frustrating for me, but WFG just wants you do as they say. to be coachable. being coachable is really the only way you can succeed in WFG, and I'm inclined to believe that.

4.) The key to the WFG system is recruiting, not the products. It's a win win for them to recruit. You either become a superstar team builder or sales person, which makes you and the upline money. OR in your initial foray into the cycle, you introduce them to people who trust you, and they can sell to them. You make money as the referrer, which can be decent depending on your network. The problem is, the easy money comes at the beginning--with your natural market of family and close friends. then you'll have to get references from them and references from them...as the line goes futher, it becomes harder and harder to make the sale. UNLESS you team build. You perpetually refresh your access to that natural market by using recruits to access it. If you train them well, they will do the same. It is in your best interest to do so, and those WFG people that don't spend the time to train their recruits to...recruit, don't really understand how to make money in WFG.

5.) The beauty of the system is residual income. From the business person's standpoint, it is always better to earn 1% of the earnings of other people, for whom you've already put in the time and money to train. For the time and money you invested, you gain residual income. Income you earn even if you don't do a d**n thing. But if it works, why not do it again? and again, and again? Residual income is how the wealthy become and stay wealthy. Those who would rather earn more money from their own work is frankly doomed to not be as successful as those who see the power of residual income. Can you be succefful with WFG, hell yes. Problem is, not everyone has the stomach to stick with it to build the sort of s****. />

6.) Do they make money from the processing fee or materials? I doubt it. Even if they did, it won't be too much, and I suspect the NASD has a few regulations or two about making money that way, and they would be shut down. That is not how they make money. They really do make money from the products. However, the deeper you get into it, the less likely you'll leave. WFG-ers might not get paid for these materials, BUT they are recognized on a points based system for getting people signed up for licensing, or online training, or selling the materials. It's not cash, but there is incentive for them to push these things. The incentive system (points, money, status, social pressure) for WFG is actually quite interesting from a business standpoint, and every good company does these things so don't think WFG is "evil" for doing it too. Theoretically, to make the system work you do want as many licensed brokers as possible to make that 1% that goes to the very top worth it. So, I don't think there's anything wrong with that. They are quite aware though that telling people about the costs of getting trained and licensed will scare them off. So, they don't tell people outright. This is good people management, but it may also be criticized as misleading and manipulative...Then again, look at how every company markets to us. Is it really more unethical than those surprise fees at the bank?

7.) Not all WFGers are bad. In fact, I met many who are genuinely good people. Some really do want to help people, and that's commendable. If you do join WFG though, watch out for the bad apples. Many of them believe in the WFG mission. Many are working so hard to provide for their families and one should not blanketly slander all WFG reps.

8.) Thoughts on the industry. Insurance is a commodity product. Worse, it's a product that people really don't want to think about. How would you like to buy a product in preparation for you impending death? An agent's job is to make you think about such things. That said, people with families and large debts really should have insurance. As an agent though, comissions really aren't that great unless you land big group accounts or target wealthier individuals. You can make a little extra money from selling insurance on the side through the WFG system, but it's rare to make a lot of money unless you dive full time into the system and really build your business.

9.) Insurance as investment vehicles. This was actually the thing I wanted to learn most about. My final conclusion is that it's better to have a ROTH IRA and a term life insurance policy and maybe a declining term policy (for your debts) than to use a VUL. Why? term insurance is cheap and you only need insurance for the time you have responsibilities like th mortgage and the kids. You may want to have some "industrial" insurance (not in fashion these days) just to cover the burial expenses. (why not push term insurance? Cause the commissions aren't worth it.) Meanwhile Roth IRA is similar to premiums paid into a VUL. (To call "VUL"s a "NEVER TAX" option in the WFG intro presentation is TOTALLY misleading, and probably something they can be fined or reprimanded for.) Premiums/contributions for both vehicles are after tax contributions which you can withraw tax free (assuming you haven't "MEC-ed" your policy) just like you can do with a Roth IRA up until you start withdrawing more than your basis. Once you start withdrawing your gains before 59.5 years of age, you get hit with a 10% penatly for both and must pay reg income tax for both. However, with a ROTH you can wait to take out the gains after the 59.5 and not pay tax period, not so with the VUL (gains for which are always taxable as regular income). There is a way around this taxation, which the VUL has over the ROTH, you can borrow from your VUL at a very low rate TAX FREE and you don't really have to pay back the principal which is your money anyways. You can even use it as collateral for a loan. Problem is, this only matters if you need funds in excess of your basis (contributions/premiums paid). That's one loophole uncle sam hasn't closed yet. In addition, the choices available to you in a ROTH is so much more diverse...a far more powerful tool for a self-respecting Financial Planner. Also, I haven't seen the costs of the VUL investment vehicles, but I suspect they're costly relative to what you can get through a ROTH. Does the option to borrow from yourself in a VUL trump the flexibility and lower cost of a ROTH and term insurance combination in the long run? It probably depends on the particular circumstance of each person at the time, and I don't care to make a definate judgement on this point. One more bit: Insurance is a good tool to have for estate planning!

In the end I decided to end my career with WFG, not because I thought I couldn't make money in it, but because it just wasn't for me. I'm not looking to build a business in Insurance. I am more concerned about picking up a little extra money as a plan to make my money in other ways. Educating myself and genuinely helping my friends and their friends is one principle I am unwilling to waiver on. I know now that I can make this side money without WFG. I can get myself licensed and figure out for myself what's really the best choices out there. I don't care if the commission on a term life insurance is tiny if I really help the person and I don't need to do a lot of work because people trust me or people trust the people who reffered them to me. I have an expansive network spanning several countries and continents because people trust me--because I am generally a knowledgeable person. I will not risk my reputation for the opportunity presented by WFG, as great as it potentially could be...

I would love to find a real organization that's really focused building and protecting wealth for its clients regardless of commissions and other considerations--better yet one that I could join part time as a consultant and relationship manager. Chances are, I'd have to build this company myself, which you know what...doesn't sound like such a bad idea...
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#12 REBUTTAL Individual responds

I recieved a urine test in the mail?

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

i recieved a urine test in the mail from universal lending from a company gevity hr which handles comunity lending employees. The piss test was from quest dianogtics....heres their link: questdiagnostics.com/

I did my first appointment and we the clients shopped around and this company (universal lending) beat their rates....the trainer said to my client if they could find better then go with them but the client didnt find a better rate...and i am being paid on this loan at the end of this month around $2,300....I also learned how to fill out a loan application and learned how to qualify a client....

well for what its worth
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#13 UPDATE Employee

Get the name of the company right, then get the facts right

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


You are saying that you worked for a company called "WFG" and it was run by Hubert Humphrey. First of all, there isn't a company called WFG. It's either WLG, GEL, or GGF. Which one are you trying to complain about? In my opinion, getting the name of the company you're complaining about would be the first step.

Secondly, your facts are completely inaccurate. Where did you get charged for meetings? Who told you that human resources would send you a letter? Human resources, so you know, is down in Georgia. So yes, human resources DOES exist and there is NO piss test.

There is no learning.net certification, no "bible" you need to buy for $7, and the company isn't even 3-6 years old.

Loans are cancelled only if they cannot go through. For example, if one client CANNOT qualify for a loan because they don't make enough or their credit is too low or they have WAY too much debt, which would be the same as any other company who does loans. I have worked in the mortgage industry for over two years and I haven't found a company as ethical as this one.

If you've done so much research on the company and the people, why don't you have your facts straight?

Also, you were complaining about how you had to "get up, get dressed, etc." Don't you have to get up and get dressed for any company you work for? Where are you trying to work, McDonald's? I think any "professional" position would make you dress up, as well as wake up, to perform a job.
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#14 UPDATE Employee

CLI is just an affiliate

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

I left WFG for MANY of the reasons that were stated in this posting. One thing I want to make clear is that ComUnity Lending is NOT part of WFG. WFG associates use ComUnity Lending for the loans because it is the fastest way associates will make money. The bad part is that many of these WFG associates claim to be "senior loan officers" or "loan officers" for that matter and think a option arm is the answer for every borrower. ComUnity does indeed offer very competitive products for borrowers but its the WFG people themselves who have NO idea about them. They don't care to learn about them because the option arm will pay the most and will generate the cash flow needed for borrowers to invest in their life insurance products. ComUnity Lending is a full-on mortgage banker who truly has the borrowers interests at heart in everything it does. It is one of the most ethical companies I have ever seen conduct itself.
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#15 Consumer Comment

Pushes VUL products to everyone, regardless of their situation.

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

I think your research has problems.

You can read right in the title.

World Financial Group..

A company I am quite familiar with.

Pushes VUL products to everyone, regardless of their situation.

And I'll have too agree, it is a scam and a cult.

It makes reputable financial companies look bad.
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