• Report: #386025
Complaint Review:

World Financial Group

  • Submitted: Wed, October 29, 2008
  • Updated: Thu, November 13, 2008

  • Reported By:Anaheim California
World Financial Group
worldfinancialgroup.com Internet U.S.A.

World Financial Group Pyramid Scheme Orange California Internet

*UPDATE Employee: To Anonymous in Anaheim

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I did not directly get asked to put money into this "company" but it was mentioned by some of the WFG Speakers and "business owners" that it only cost them $100 to start their own business and now they make 6 figures.

Basically I was tricked into going to a recruiting seminar by a friend that said they and their spouse were sarting their own financial advising business. I figured I would be sitting in a room of their clients and that I would be helping them out by being there. In fact, they told me to dress professional as their other clients would be there. So I went, I got there early and did not get what I expected.

I met a lot of smiley people...really bubbly, exicited, smiley people, but I could tell it was not geniune, which made me very uncomfortable. I had to talk about myself to everyone that came out, they all asked the same questions like it was all pre-programmed so I found myself saying the same things over and over again. I didn't see my friend until later when he explained that I wouldn't be seeing him again until after a tour and presentation.

So this man, who looked uncomfortable in his suit took me and one other "guest" on a tour of the offices and showed all the glorious trophies that they buy and give each other in appreciation, becasue as he said " the money is nice but it is better know that you are appreciated" REALLY?

Then we progressed down a hallway toward a room with Hip Hop music blaring, and were told to go and mingle with the WFG people and see the WILD and CRAZY, TOTALLY UNCONVENTIONAL work environment. Like look at us we are having fun! If you didn't know any better you would think you were at a singles mixer, everything seemed so forced it was painful. I was whisked from person to person to the point that when they asked if I had met so-and-so yet I had no clue. I had to again introduce myself, tell my occupation, one of my hobbies, then I was passed to the next person after they were brought up to date on what I had told the last person...bizarre!

We (the five guests) were then taken into a separate room to listen to speakers talk about how they had previously held unstable jobs and wished for financial freedom and now are like bazillionaires and totally happy...they also talked about the WFG mission which is bringing financial independence to middle class families, which is great, all fine and good, everyone should be educated on how to best invest and save for retirement. But looking at the room full of uncomfortable people wearing pretty cheap suits for bazillionaires and all the talk of how they send everyone to Cancun and Hawaii all expenses paid, and the lack of a face that looked like it ever went on vacation seems fishy to me.

At the end of the presentation they offered up interviews that very night for any one of us that was hungry enough to start right away and I just looked around the table at a 20 year old that was so excited he had just found the secret to becoming a millionaire by his next birthday, and an unemployed person looking for any opportunity, as well as someone who was supposedly self-employed but looked like a person who could barely function in the real world I felt insulted...like the person who invited me thought I could be duped, or worse that I actually fit into this group.

I have pride in the fact that I went to a four year University, I have a great job, I am not an unstable emotional wreck that can be preyed upon...I don't want to be lumped into this at all, and if everyone get the chance for an interview that walks in that door, how picky can they be? $100 is $100 no matter who is willing to pay it so I got out of there and told my friend I wasn't interested...hopefully they won't be calling me back.

Anaheim, California

This report was posted on Ripoff Report on 10/29/2008 12:37 PM and is a permanent record located here: http://www.ripoffreport.com/reports/world-financial-group/internet/world-financial-group-pyramid-scheme-orange-california-internet-386025. 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

To Anonymous in Anaheim

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

Anonymous in Anaheim,

I can imagine how you feel, you sound like a very sincere person and I'm sorry to hear of your uncomfortable experience.

I am a client of World Financial Group and was so impressed by the financial strategy that they put together for my family that I decided to become an agent with the company. I educate families how to reach their financial goals. Most of the families I sit with have two primary goals: 1. get out of debt and 2. save and grow their money for things such as college for their kids, a house, travel etc.

It makes me sad to hear stories such as yours because the WFG business model is actually really straightforward:

Option 1. (Client) We teach families how to reach their financial goals with a custom strategy of solutions from the likes of Chase, ING, Prudential, Pacific Life, Goldman Sachs, etc. We are appointed representatives of companies such as those. There is no such thing as a WFG product.

Option 2. (Business Owner) We train and teach individuals how to do the above 1.

At WFG, we teach that financial wealth is about how much money you save/grow (i.e. net worth) and keep (i.e. less/no taxes), not how much money you can spend on expensive suits. The clothes that people wear or the cars that they drive are not an indicator of their character nor wealth. A person that makes $100k a year can be "more broke" than a person making $50k if the $100k person buys expensive clothes, drives leased luxury cars, eats out every night and does not save a dime (sadly many Americans have these habits).

I also understand what you are saying about the people at the offices. Each office is independently owned and operated. The office environment reflects the personality of that specific office owner and the demographic of the specific local area. As you can imagine, the people at a WFG office located in Anaheim will be of a different demographic than the people at the Irvine or Palm Springs office.

I know my clients that attended had a great time and learned a lot from the corporate overviews at my office. I am sorry that the office that you attended did not have a positive outcome for you. Perhaps your friend should have merely sat down with you and your family to do a financial strategy and not invited you to that specific office. I am guessing that your friend thought that you would be great at helping families.

The corporate overview is a chance for the company to tell you what we do. However, the interview is a chance for you to tell us how your talents can help the company. Sure, anybody that was invited can interview but only those individuals with the characteristics that will help accomplish the company vision of helping "families achieve financial independence" are allowed to move forward.

If you have not done so already, I encourage you to talk with your friend about your feelings in regards to this experience. If he is a sincere person, he will value your candid feedback. After all, we are only human and a great way to help your friend is to be upfront so he can improve his business, I'm sure he'll appreciate it.

Best Wishes.
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