Report: #384984

Complaint Review: World Financial Group

  • Submitted: Sun, October 26, 2008
  • Updated: Tue, March 16, 2010
  • Reported By: San Jose California
  • World Financial Group
    2369 Bering Dr
    San Jose, California

Show customers why they should trust your business over your competitors...

A few weeks ago I had the displeasure of joining The World Financial Group. This is a SCARY company. I always have thought of myself as a very strong minded person but within weeks The World Financial Group(hereafter "WFG") had a hold of me. My friends and family could see me changing right before their eyes and tried to pull me away from WFG.

But the brainwashing they subject you to at WFG actually makes anyone that is against WFG 'Not worth having in your life' the other thing it makes you think is 'Anyone who is not in WFG is just being stupid and will never amount to anything, they are just losers' So let me walk you through step by step how WFG is from someone who broke free from the brainwashing and can see the scam for what it is.

Even after I broke free from the brainwashing I tried to show other agents I cared about the truth but they were too far gone to see the truth. Like I said, it's scary. Alright here's the true story behind WFG.

I received a phone call 'Hello my name is Paul I am a manager in charge of expansion for WFG Financial Services. If the money and situation were right would you consider a career change?' We talked for a bit and he told me about how WFG is the largest company in the world and this would be the opportunity to make six figures a year. He gave me the WFG website and said that there was a link to the business opportunities inside the company.

I was invited to a 'Business Overview' (also known as an 'Op Night') they had a whole razzle dazzle show that said that WFG was the best Business in America. They had a video presentation set up to look like a news report and a bunch of speakers that gave the 'rah rah' WFG changed my life....ooooohhh aaaaahhh look at me I'm a millionaire and you can be one too. I was sold, I wanted to be a millionaire just like the guy that was doing the presentation (who's BWM was parked just feet from the front door so everyone could see it).

So Step two - I signed my IBA (Independent Business Application) with 199.00 to 'start my business' and submit my paperwork. (Here is a funny story - My first day on the job I was a 'Manager In Charge Of Expansion' and going through the white pages for phone numbers and just clod calling EVERYONE one by one) I was trained for less than 1 hour a week for 6 weeks (total less than 6 hours) then I was given my 'diploma' for my six week training. During my training I was also given the opportunity to become a 'Master Copy' to become a master copy you have to jump through a bunch of hoops and BUY WFG LIFE INSURANCE AND MUTUAL FUNDS.

They pressured you with the 'You can't be a master copy if your plan is not in place' and 'you can't sell products if you don't own them and believe in them'. The one that makes me laugh now is 'You don't see a Toyota salesman driving a Honda... Come on man what planet do they live on??. I have met 4 car salesmen in the last few weeks and ONE of them drive the product they sell.

Three times a week WFG employees would meet and have a 'Rah Rah' session. Everyone clapped and cheered and gave each other high fives. The energy in the room was amazing. No matter how little the thing you did was you got applause, high fives, and recognition. You felt powerful like anyone not a part of WFG was missing out and will never accomplish anything with their lives. We were on a 'Crusade' to save everyone from their crappy lives and give them the opportunity to be 'Debt free and on the road to financially freedom'.

These meetings were basically brainwashing tools to strengthen your bonds with WFG. And I'll be honest with you they were the most effective tool they use. Free trips to tropical and beautiful locations, a lifestyle of your dreams, and being a millionaire were dangled in front of you at each and every one of these meetings. It made you work harder for your upline who takes commissions off of you (Called an 'Override') for giving you this opportunity.

So At this point I'm out $199.00 + Monthly Insurance Premiums + Mutual Funds. Now for the final step of becoming the 'master copy' I have to give my 'Upline' a copy of my 'Top 25' people in my warm market. I give the list to my upline and it mysteriously disappears (funny thing everyone on the list got a phone call from a WFG rep after I left the company...hmmmmmm). Here is how it works you 'recruit' people into WFG with hopes and dreams of Being a millionaire then get a list of their friends and family to go visit while you are 'Field Training' (this is the process where you are unlicensed and the upline takes ALL THE COMMISSIONS from your friends and family while you get nothing).

Here is an interesting thing a $100.00 from the $199.00 was supposed to be returned to me when I went on 3 'Training Appointments'. After my third appointment I was told 'two of the three appointments did not produce sales so you get nothing' So basically you recruit people to get their top 25 list and 'Rape' their warm market of friends and family. All the recruit is there to do is push your way into their friends and families house.

So I decided to stick with it (I'm still brainwashed here) and I studied for my Life Insurance License and my Mutual Funds License. OK here comes more cash out of the pocket.

60 bucks for the Life Book and 160 bucks for the Mutual Funds Book. So now I'm down $199 + Life insurance premiums + Mutual funds + $60 for the Life book + $25 for the life exam + $60 for the Life license + $160 for the mutual funds course

At this point a good friend of mine that I had been treating like crap because 'He spoke badly about WFG' opened my eyes once and for all. In a slightly violent exchange he knocked it into my head that I had been brainwashed. The seed was planted. I thought he was a total loser for not just signing up and becoming 'Financially Independent' and how dare he get physical with me...'ha when I'm a Millionaire I'll buy and sell guys like him' I thought to myself.

As I drove home the seed of doubt began to grow, I called my friend and said 'where's your proof?' He gave me a list of websites and articles. Boom! As I read all the articles and all the people that had been hurt by this company I felt horrid about the way I had been acting and treating the people I loved.

It's a scary feeling, knowing that you were brainwashed. Knowing that someone else had control over your thoughts and feelings. But once you see past the brainwashing you see things as they really are.

The turnover rate (people that quit) is unreal (my turnover rate was around 100% for a while and reports said they are over 99%). But you know 'some people are just not cut out for this business, they will just always be losers never getting anywhere in their J-O-B' I can't believe I bought into this crap.

I am sharing this experience with people hoping that someone will stumble upon this report and say 'Wow I'm glad I saw this before I signed my IBA'. I know this is a long story but I only scratched the surface I could write for DAYS about all the things that go on behind the closed doors of WFG. Here is a point form of how it works.

- Phone People out of the phone book
- Recruit them
- 'Rape' their warm market ('It's OK they will recruit someone and do the same thing so it's not wrong'...this is what my upline actually said to me)
- Once they are dried up recruit another person and 'rape' their warm market
- Keep going until you have recruited enough people and you and your recruits have 'raped' enough warm markets that you can open your own 'Base Shop' and become a Regional Vice President (RVP) at which your upline takes your strongest people as a gift for giving you the opportunity in the business.

They cycle continues on and on and new 'Base shops' spring up all over town as more people become RVPs.

I know a WFG employee will try to come up with a clever rebuttal on how this was all my fault and WFG is the greatest company on the planet but keep in mind I was the person that would have been writing that rebuttal if I had not had help to break free from the brainwashing(unless he/she is also trying to brainwash others).

Thank you for your time and I hope this saves you some time and money that I will never get back.

San Jose, California
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This report was posted on Ripoff Report on 10/26/2008 01:09 PM and is a permanent record located here: 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. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#1 Consumer Suggestion

Same Old Story

AUTHOR: Greg - (USA)

I too was sucked into WFG's hype over 7 years ago. I only attended two meeting after signing up and realzed there is no real training for agents. It's  all a lead generation tool for the very few that make any real money there.


WFG's commission structure pay's only 25% on the first year's premium on any policy. This is very low and industry standard is at least 50 percent. Example: $100.00 premium = $1200 per year, 25% is $300.00 to the writing agent. WFG get's to keep the $900.00 plus overrides. That's only if they pay on all 12 months, which some companies only pay on 9 months of the first years premium, which would even be less commission. Not sure at the time of this writing if WGF offers 9 or 12 months to it's agents.


Bottom line is, if you are interested in supporting your family, friends and your community with A rated products and company, look elsewhere. If you wish to be properly trained as an agent to service your community with professionalism and integrety you can email me at [email protected] //  and I will help you with becoming a top agent in this great profession.

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#2 General Comment

thanks for the notes

AUTHOR: infernoback - (United States of America)

Hi...I just got a called from WFG rep. They want to have a interview with me tomorrow.  I was Google online and youtupe then I saw WFG scam.

I know nothing about this company, but thanks for your notes. I am sure that I didn't apply this company.(I'm engineer) I was shocked they said the exactly same thing as they called you.

'Hello my name is Garret. I am a manager for WFG Financial Services.  If the money and situation were right would you consider a career change?' He talked about the WFG is one of four largest financial in the United States.  They want to have a interview with me at 8am or 7pm.(normally, I think company gives you few days after they called you)

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#3 Consumer Comment

federal trade commission website has info on MLM /Pyramid Schemes..

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

Multilevel Marketing Plans
Produced in cooperation with the North American Securities Administrators Association

Information to Protect yourself is out there - YOU HAVE TO BE WILLING TO LOOK FOR IT
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#4 Consumer Comment

Help me quick!

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

Ryan, I hope it's not too late for me. You said you joined and quit but bought life insurance and such, did you close your accounts and have to pay surrender changes or did you keep them open, are they somewhat of a decent investment? Having already done the IBA, and taking my license test my next step is buying into a service. Please message me if you will take a few minuets to help me out. teddy at jaaudio dot com. Thank you in advance for considering to help me out,

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