World Financial Group WFG Deceptive marketing, MLM style scam, recruitment-based rip-off, Unethical insurance sales and loan scam Encino California

I worked with wfg/tfa for around 1 year.  My initial impression of the "career opportunity" was that I would be given the tools to help people financially.  I came into the business with a positive and motivated attitude, which began to diminish as the time went on.  

I will start with the positives, negatives, then a question that I have.

The positives I got out of the business were specifically achieved because I was motivated and WFG opened the door to a new field.  WFG introduced me to the positives of becoming a consultant/agent/RR.  I found that I was great with the clients, but started to become tired of the recruiting.  They gave me PARTIAL training on some unique products, I taught myself the rest which began my separation from them.  I met motivated successful people and was introduced to a unique and successful business system.

The negatives outweighed the positives in my case.  I will state that for some this business is a great opportunity.  In my case, I was the "top producer/recruiter" in the office, yet I made 1/8 the amount of money that I was previously used to.  This small income was not based off of my performance, but off of their commission scales.  Commissions that are the lowest in the industry, initially.  This low income was devastating to my finances, and was a shock based off of what we were told in the corporate overview.  I saw the amount of money I was making the company, money I could have lived off of, so I decided I needed to go out on my own.  

The recruiting in this business was initially a positive idea to me.  I surrounded myself with my friends and family, but soon found that I wasn’t doing them any good, while with WFG.  I had to start branching out and attempting to hire more people.  Some of these people I was going to hire were bums off the street (not literally).  Bums who I was encouraged to hire, but I refused to do so.  This choice was against their business model and it soon began to hurt my business.  I refused to leech people’s warm markets from them and then leave them out like a fish out of water.  Which is what they want you to do.  Take their warm markets (friend family) and then let them go at it on their own.  I couldn’t do it and would never be ok with it.

My overall experience with WFG has been negative, the only positive is that they did introduce me to the financial world, which I independently thrive in and respect.

So here’s a question I have.  The AMA was presented to us during the sign in process.  My trainer stated that it was a bunch of legal non-sense, typed my name into the contract, and they emailed me an unsigned copy of what I assume was the contract that I/my trainer signed for me.

Hers the scary part 

1. Once you leave WFG they say, contractually, that you can’t work with your previous clients, encourage them to leave the products they were in, and solicit business from them.  Them being my friends... and family....

2. They claim that even after you leave, you are responsible for the monies that are lost if the client leaves the product you had them in.  Essentially a chargeback after you are not an employee.

 -> My problem with that.  I looked up on multiple client accounts that lapsed, the producer was my old boss, not myself.  I literally had no control over whether the client stayed or left once I resigned.  Meaning I did not receive renewals no compensation for over contributions.

3.  Now they want to send me to collections because they lost my client accounts, mostly because of the wonderful things people say about WFG on the internet.  Even though I had no physical control over these accounts.

So the question is, how can I legally be liable for the chargebacks if I am no longer the writing producer, I receive no benefits form the client, and contractually I cannot contact or solicit the client to maintain the account?  I don’t want some wfg hack who has been there for 3 minutes to answer this, I would like a legal professional and even some honest opinions.  If someone has been through this, please share!

You know if you were licensed, you would actually be in trouble with compliance laws in the country. First things first, NEVER bash any company when you are in the financial industry, especially with the insurance industry.

Sure you can compare, but NEVER tell people that "Primerica products are better than XYZ". 

Hopefully you're not a licensed agent because what I can tell you is that once your license is revoked, you won't be able to do business ever again. I'm being blatantly honest though. 

And WFG is actually a VERY big company. Surprising, yes, but then again it's not.

They look for peoples resumes online at Careerbuilder & Monster and call them in for interviews promising "many available positions."

They give your resume to employees that were just hired on a week ago to go over it with you in a standing room only atmosphere. They make you talk about your hobbies and goals like if it was a real interview. Then they pass you off to someone else and it starts all over again.

After that you go watch a presentation about how the company is so great. Then you get called in by groups of 4 to interview with the Team that recruited you online.

A college degree is not required to be hired on. Just $100 and a clean background check. They'll lure you in with big numbers on papers of what your potential earnings could be. They start you off at a 25% commission with no benefits. On top of that you have to pay about $400 in total fees to get your license with the California Department of Insurance.

My recruiter gave me a pdf file with all the exam questions on it. If you study them for a couple of days you're guaranteed to pass the licensing exam with flying colors. After that you can start "writing business." Which is really scary to a potential client since the agent doesn't have much training at this point.

The main goal of WFG is to keep new recruits in the dark. The 25% starting commission is a joke. After I left. I got hired on by one of the big companies with 100% of all commissions, free training and a benefits package. My new company actually requires a college degree and extensive training after being hired. Even though I'm already licensed, they said I have to be retrained since I worked for WFG. Hmmmm WFG agents pay a lot for training when you consider how much percentage of commissions they give up to their "uplines."

If you don't mind a "pyramid" type company then WFG is for you. I agree that a motivated agent can get rich. But it is at the expense of others. I had to see a lot of people leave the building upset because they felt tricked into showing up for an interview. If you want to sell investment products the more honest way then I recommend you go straight to one of the big companies. You know which ones they are because you have actually seen their commercials.

Never had personal dealings with this company, however, it sounds as though it is one of thousands of the multi-level marketing companies that prey on the young, enthusiastic, and under educated. This scenario is very typical of what happens with any of these companies, they take money up front to supply you with a "job" that is nearly impossible to succeed at, and suck you dry for time and referals until you can no longer afford to work there. When interviewing with these places there are always red flags. These companies are very vague during the interview process, want money up front for licenses, training kits, products, and will always paint a picture of the grand and wonderful life they will be giving you.

You are usually left to gather leads on your own and given a shaky at best product to push upon your friends and family to attempt to get pity sales. The people that run these companies invest no money into you, you pay for everything and burden the entire risk. My best advice if you take a position with a multi level marketing company, and you struggle or you are not being paid the way they have promised, or you find the product is virtually impossible to sell get out and save yourself time, money. and a headache.

On a side note, saw a couple of Primerica advocates commenting on the board. Pretty low way to recruit new people to bleed dry. I have dealt with them, they fall under the same category. If you are with or thinking about employment with WFG, read this post, and read the primerica comments, I'd be willing to bet the grass is no greener. Don't bother with them either.

Look the real shady issue here is this website!  All businesses will get a complaint and this site simply exploits that.  How?  By making great legitimate companies PAY for a ripoffreport "update" (see their "program" guidelines).  Primerica has tons of complaints on here, so the cowards at Primerica paid this site probably upwards of $1 Million to have the update added.  Kudos to WFG for not stooping to this level of internet blackmale!

in 2008 i was with WFG for about a year. I quit when i became busy with my business. I still hold my CA insurance license and keeps it updated. I still make a little more than $2000 a year with them. Not bad for a little extra income that pays for my life insurance or my car maintenance or maybe gas expense.

Look, you apparently didn't get in. First off the amount is 100. That makes sure that you're not involved with any insurance fraud. the rest is paid directly to the state and to which ever institute you had to legally pay in order to obtain your license. I know a lot of people who don't have a team under them and are doing great. You just don't have what it takes apparently. WFG is no scam. It's not a MLM scam. Honestly how would you describe any company whether it's Chase bank or Jack in the box. They're all on people of higher levels making more money than the people below them. I guess you're one of those type who feel that you should make more money than your boss/supervisor don't you. Secondly, it takes a person who's refuses to be trained, uncoachable, know-it-all to think that the meetings are for nothing. Every meeting you pay attention to you'll learn not just about how the company works but also about every product, how it works how it can help benefit our clients and how it can help benefit you as well.  To be honest I wouldn't be surprised if you worked for Primerica. That's how Primerica works, hook people to join. with no education other than to tell them to read a script. Here we actually teach you and our customers about their finances and how to better operate their money and what to look out for. At our meetings we do a lot of business of helping people out with their car insurance, home mortgages etc... Which means that you never got anyone to come to a meeting and when you went, you didn't pay any attention yourself. As a matter of fact, the only way for you to come into one of our meetings is if you were asked to come. You call people "phony financial professionals" yet these same people have state issued licenses in securities and insurance. Which it's apparent that you don't have one. Oh and the companies we use like ING, Pac Life  and over 125 others would also disagree about your lies of us being fake. Because if we were fake then these highly regulated companies along with ours and our members would have nothing to do with us. By the way, everyone needs life insurance. What happened in Haiti could happen anywhere and what are you gonna do if you leave loved ones behind cause you were simply too foolish to buy Life insurance. It's not like you're gonna live forever. You may never crash your car yet you buy car insurance so why in the world would you not insure your life or your loved ones so that they don't have to worry.

I am very gratefull for these reports as I was considering getting back into the insurance business after a nearly 18 years absence via World Financial Group.

I was initially attracted by the management/training possibilities, but like many others was put off by the first "training" meeting I attended. I didn't realise until I read these reports that all the meetings would be similar. (I cant stand the RAH RAH in a sales meeting)

The cost to start is not an issue for me. You have to be licensed and pass an exam for any license you choose to have. $100 is not unreasonable for a background check.

However as previously stated, the commission levels as an agent are very low, so one would hope that there is something to offset this loss. Not owning any business written is not an option either. It appears to me that generating ones business is no different to any other insurance company but there is no marketing help offered by WFG. Recruiting other people to do something I dont feel comfortable with is not an option either.

So if the training is weak and there is no marketing to help produce leads, why give up substantial commission? One is better off joining a reputable A rated company.

San Diego, California. USA

    Why is it when I type "World Financial Group" into google, google's first option on the list of things i might search for is "World Financial Group Scam", and the seconds option is "World Financial Group Scam 2009".  It's not like you type in "State Farm" and get "State Farm Scam" to come up.

   There may be people with liscenses and certifications, but if these people we're always right then what happened recently on with our countries financial institutions?  All degrees and liscenses are created by a humans but these does appear to be the extreme where I would employ the world "brainwashing" to describe what the companies culture and certifications about.  At least from what I've read on both sides.  I mean...an 18 year old who tells us about how he's liscened with a company and is "very successful" speaks to what is happeneing in that company.  

Shaddy.

WFG is not a "company". It's a boot camp for criminals. I was recruited
a year ago by an ex-schoolmate. I was told rosy stories about getting
rich while helping people. I paid $100 for security check and was given
lots of "trainings". They taught me how to trick someone to meet them,
how to lie to everyone I know, how to persuade people to buy their
useless and expensive life insurance policy but tell people it's an
"investment". Oh boy, was I shocked by the fact that the government
even turns a blind eye on it. Well, since casino is fine, this isn't
much worse. As long as they both can generate tax revenue, who cares?
They want every contact info in my cell phone so they can trick them,
too. These people put fake smiles all the time to earn your trust. They
also "teach" you some financial knowledge to disarm you. They even
throw parties at members to further attract you. At the end of the day,
all they are after is your money, your loved ones' money, and your
friends' money. I quit out of disgust.

WFG is not a "company". It's a boot camp for criminals. I was recruited
a year ago by an ex-schoolmate. I was told rosy stories about getting
rich while helping people. I paid $100 for security check and was given
lots of "trainings". They taught me how to trick someone to meet them,
how to lie to everyone I know, how to persuade people to buy their
useless and expensive life insurance policy but tell people it's an
"investment". Oh boy, was I shocked by the fact that the government
even turns a blind eye on it. Well, since casino is fine, this isn't
much worse. As long as they both can generate tax revenue, who cares?
They want every contact info in my cell phone so they can trick them,
too. These people put fake smiles all the time to earn your trust. They
also "teach" you some financial knowledge to disarm you. They even
throw parties at members to further attract you. At the end of the day,
all they are after is your money, your loved ones' money, and your
friends' money. I quit out of disgust and no longer talk to those "co-workers and supervisors".

This is a post to give you more info. The company WFG is not a scam, but the agents lie and basically steal from people. I said "basically" they will say they are being honest with their clients and helping them. However if you look closer you will see the truth.

 So lets look closer, shall we. THey market what is called cash value life insurance polices. If you do research from consumer advocates and PROFESSIONAL financial advisors(that have no tie to insurance products or industry) they will tell you to steer clear of these products. THEY ARE THE WORST INVESTMENT PRODUCTS YOU CAN HAVE. If you can call them investments. Most of the time these products will implode and you will end up with no protection ar investments

 If you truly want to be involved in with a company that does what is right for people and allows you to build a business. Then yoiu should find out about Primerica Financial Services. You can do a search on this website, you will find people complain about them as well. However they are most complaining about thinking they were getting a job and not a business opportunity. Wfg actually have complaints about what they do and how they mislead people.

 Also in your search on this site you will find a letter from the Ripoff Report Founder stating that he did his own research and found that Primerica is not for everyone but is a solid company that always works to do what is right for the consumers and any complaints the company receives. YOU CAN T SAY THAT ABOUT WFG

Natch,

i read your rebutal and it is well thought and sensible. I have just joing with WFG, while i belive in the potential and understand the value of working with one's sphere of infulance, i have some concerns as well. I not been we the company more than 2 week, i come form a real estate background so i also understand the cost of mentoring in commision based industry. While i find that you are correct in asserting that your clientelle base should be your, i also believe that if your are mentored that that the mentor should be compensated for the effort and work they put into it, since to all people are cut out for a commission only business.

The reason for my rebutal is to see if your are willing share with me the companies you would recomend were i can offer the same services to my clients and be well compensated.

Would you also tell which office you were apart of and who your QMD was?

I'm an American expat living in Cebu City, Philippines. I've been approached by a company here, called IMG or International Marketing Group, which claims that WFG is its parent company, or so said one of their independent recruiter/salespeople. Does anyone know if this is true? WFG's website lacks any "contact" link or form, email address or telephone number so I am unable to ask them. The only means of contacting WFG is to go through the steps to "become a member", and one must have a WFG recruiter's ID number.

IMG's structure is basically the same as WFG in that they sell term life and health care insurance, and mutual fund and government bond investments though independent "associate brokers" who also try to recruit new downstream asociates and who earn a commission not only on all products that they themselves sell, but also on those sold by downstream brokers who they have recruited as well as on sales by downstreams that their own downstreams recruit. They are, or claim to be, affiliated with several legitimate companies such as CocoLife, Kaiser International (which is a health inurance company whose website's domain name was registered by the same individual that registered IMGs domain), PhilEquity, and others.

Can any WFG member find out for me whether or not IMG is associated with WFG in any way? Can anyone else tell me anything about this company? Salamat.

A company here in Cebu, Phillippines caled IMG or International Marketing Group. claims that WFG is its parent company, or so said one of their independent salespeople. Does anyone know if this is true? WFG's website lacks any "contact" link or form, email address or telephone number so I am unable to ask them. The only means of contacting WFG is to go through the steps to "become a member", and one must have a WFG recruiter's ID number. Can any WFG member find out for me whether or not IMG is associated with WFG in any way?

There are reports and such to the point where people criticize WFG as a scam. It is not a scam in any way possible. Such people call it a pyramid scheme, where everybody tries to recruit as many people as possible. But, what I don't get is, to the full extent of my knowledge a scam is a word or description used to describe an action or activity that is to "lie" "cheat" steal" "fraud" "illegal" you get my point. This company uses a different form of marketing strategy business people call as "Multi-Level Marketing". Multi-Level Marketing is a term that describes a marketing structure used by some companies as part of their overall marketing strategy.
The structure is designed to create a marketing and sales force by compensating promoters of company products not only for sales they personally generate, but also for the sales of other promoters they introduced to the company, creating a downline of distributors and a hierarchy of multiple levels of compensation. If anybody has ever heard of HerbaLife, which is a international company that sells health products, uses the same exact marketing strategy. I have actually and still using HerbaLife products. I feel great. But, back to WFG. WFG is a affiliate off of AEGON. AEGON is one of the world's largest insurance and pension groups.
Just because these companies use a different marketing strategy instead of your typical corporation doesn't make it any different when it comes to business. Yes, it is very different. But no, it is not a company you would criticize at all. I happen to be licensed to sell life insurance and annuities with WFG. I am only a Marketing Director at the moment but the person who recruited me about 5 months ago is a Executive Director, which is 2 levels above me. Let me tell you right now, this guy brings in cash like the IRS, I'm telling you. When we do our regular motivational meetings and business meetings, which usually is around 80+ people. Afterwards, he would treat us all to a night out at a local bar/nightclub/karoake for food, drinks, and dance. It would be safe to say that this would cost close to $4,000 and he does this multiple times a week. Im sorry but if anybody can spend 4 grand multiple times a week it means you got some cash laying around. For me personally, Marketing Director, I can make anywhere from $8,000 to $15,000 a month. Most of the times I don't do much but go to meetings and train classes. Funny thing is, I am still a college student LOL. I am only 20. I am 20 people, and bringing in an average SIDE INCOME of $75,000. Plus I write off my car mileage, my cell phone bill, everything I buy such as desks, chairs, furniture, lighting, etc. for business purposes. I am living the life people. You just need to be on top of your game. And for those people who had the opportunity to do this and turn it down, I pity and shame on you for being such cowards. I call this my side income because I am a full time student doing 15 credits each semester. But yet, I make more than 85% of the U.S. economy. I laugh out loud.
Not only do I make money, I have LEARNED SO MUCH from WFG. My financial future is set, when I get a family, I know how to take care of them. I can help the people around me with their finances.
So for the people who says this is a scam, so be it. All i know is that I'm happy this company exists. Because, Im happy. And that's all that matters.

Best of Luck!!! Thanks for reading. Hope you learned something.

There are reports and such to the point where people criticize WFG as a scam. It is not a scam in any way possible. Such people call it a pyramid scheme, where everybody tries to recruit as many people as possible. But, what I don't get is, to the full extent of my knowledge a scam is a word or description used to describe an action or activity that is to "lie" "cheat" steal" "fraud" "illegal" you get my point. This company uses a different form of marketing strategy business people call as "Multi-Level Marketing". Multi-Level Marketing is a term that describes a marketing structure used by some companies as part of their overall marketing strategy.
The structure is designed to create a marketing and sales force by compensating promoters of company products not only for sales they personally generate, but also for the sales of other promoters they introduced to the company, creating a downline of distributors and a hierarchy of multiple levels of compensation. If anybody has ever heard of HerbaLife, which is a international company that sells health products, uses the same exact marketing strategy. I have actually and still using HerbaLife products. I feel great. But, back to WFG. WFG is a affiliate off of AEGON. AEGON is one of the world's largest insurance and pension groups.
Just because these companies use a different marketing strategy instead of your typical corporation doesn't make it any different when it comes to business. Yes, it is very different. But no, it is not a company you would criticize at all. I happen to be licensed to sell life insurance and annuities with WFG. I am only a Marketing Director at the moment but the person who recruited me about 5 months ago is a Executive Director, which is 2 levels above me. Let me tell you right now, this guy brings in cash like the IRS, I'm telling you. When we do our regular motivational meetings and business meetings, which usually is around 80+ people. Afterwards, he would treat us all to a night out at a local bar/nightclub/karoake for food, drinks, and dance. It would be safe to say that this would cost close to $4,000 and he does this multiple times a week. Im sorry but if anybody can spend 4 grand multiple times a week it means you got some cash laying around. For me personally, Marketing Director, I can make anywhere from $8,000 to $15,000 a month. Most of the times I don't do much but go to meetings and train classes. Funny thing is, I am still a college student LOL. I am only 20. I am 20 people, and bringing in an average SIDE INCOME of $75,000. Plus I write off my car mileage, my cell phone bill, everything I buy such as desks, chairs, furniture, lighting, etc. for business purposes. I am living the life people. You just need to be on top of your game. And for those people who had the opportunity to do this and turn it down, I pity and shame on you for being such cowards. I call this my side income because I am a full time student doing 15 credits each semester. But yet, I make more than 85% of the U.S. economy. I laugh out loud.
Not only do I make money, I have LEARNED SO MUCH from WFG. My financial future is set, when I get a family, I know how to take care of them. I can help the people around me with their finances.
So for the people who says this is a scam, so be it. All i know is that I'm happy this company exists. Because, Im happy. And that's all that matters.

Best of Luck!!! Thanks for reading. Hope you learned something.

I recently had a sitdown discussion with a WFG agent supposedly way up in the company. He made 3 major mistakes:

1. They sell a universal life product where the savings is invested in a S&P500 index fund where they guarantee nothing less than 1% growth. The premium was $150/mo. $100 of the premium was shown in their projections to be invested monthly until age 95. But, after 20 years, I noticed that the projection for the 1% guarantee was going to grow to $8,800. Now, I'm not all that bright but in 20 years, $100/mo totals up to $24,000!!! So, how does this get the 1%? What is obvious is that the lower the return from the fund, the more the company penalizes you the policy holder. It really only takes about $30/mo. to grow to $8,800 at 1% growth. See the penalty??? Then, at age 75, there was no money left in the policy. Also, I found out later that this fund pays no dividends and capital gains as it would in a mutual fund. The dividends and capital gains go to the insurance company.

2. The agent tried to assure me that it would do better than 1%. He said that for the past 10 years the S&P 500 did about 10-11% average annual return. So, I checked it out. The S&P 500 actually was at a -1.71% average annual rate of return. So, that doesn't help me feel very secure about the policy and the agent. Then I found out I could get 3 times the coverage with a term policy for 30 years and still invest $100/mo. in a Roth IRA. But, I have to talk to a Primerca agent to find that out. Guess WFG don't get paid well on Term policies.

3. Then, I almost liquidated my IRA because the agent said he had a better investment, the universal life. Someone pointed out that I couldn't roll an IRA to a life insurance policy without getting hit with taxes and penalties. The agent didn't bother looking at my statements before I liquidated them. I almost got caught if it were not for a Primerica agent warning me. The WFG agent tried to play dumb that he didn't know it was an IRA. But, I said that ignorance of the law is no excuse. He should have checked my statements to know before advising me to do anything. Not just take my word that I thought it was just a mutual fund and not an IRA. Thank you Primerica!!!

4. The agent from WFG then showed me that I could roll over my IRA to their IRA which is a Variable Annuity from Prudential. The 7 - pay and plus policy. The WFG agent said that I would be guaranteed 7% on top of what I made in my separate accounts. If I averaged 10% for 20 years, Prudential would take on 7% for a 17% compounded account. That sounded good until I found out that the WFG agent didn't understand how it really worked and he was feeding me a bunch of bull. I found out the step up isn't guaranteed. Prudential could at any time move the accounts around to government bonds which would eliminate the step up. Cancel it out. Also, it is 7% of the highest average daily balance. The word "of" escaped the WFG agent. The way it works is .07/365 times the number of days left in the year on the highest day. If that was where 180 days were left, the amount increased would be 3.45%, not 7% So, if the average was 7% over 20 years, that would be a 10.45% average. Not bad. But, if the average was like it has been, well, there are other variable annuities that would guarantee 5 or 6% no matter what and no elimination of the annual step up. Also, he didn't tell me that this step up was for only 10 years and they may not have these investments at that time.

The point is, the WFG agent had no clue what he was selling. If it were not for a friendly Primerica Agent who knew what the heck was going on, I'd be in poor straights in 10 to 20 years.

As far as their business structure, I have no problem with it. My car ins. agent from State Farm was in my high school class and he used the year book to look me up and others to get his business going. I don't see the problem with referring friends and family. We do it all the time for other things like where to eat, who to get car insurance from and many other thing of importance. So, what's the big deal?

Why are you so upset about recruiting? Why do you think corporations use headhunters? Many companies pay their employees for finding good new employees like Lockheed does. McDonalds recruits all the time as there is high turnover in the food business. And, reality is, the average age of an insurance agent outside WFG and Primerica is about 57 years of age. I think the two companies are smart to be aggressively recruiting, especially in today's environment. Don't you? I don't know about WFG, but Primerca last year made $515 million dollars after paying off their responsibilities and they have zero debt! There life sales only fell by 1% yet they made all that money. Why? Because of recruiting and getting referrals. Which is the best way, by word of mouth. Best advertizing method for any company. Hope this helps others.

Thanks Alex

Ok, let's get a grip. There are 3 sides to every story... yours, mine and the truth.

Here's my WFG experience:

#1 - Paid for my life insurance license course (LLQP) - cost me $300. Was told that was all my investment would have to be and that it would take about 3 months to get 3 exams done and the licensing paperwork (assuming I passed all 3).

The Truth: $125 of that $300 was my WFG registration cost (I have to pay to be part of a company??) and $175 was for the LLQP course. Then it cost me $100 for my mutual fund license course. Then another $100ish to write my provincial LLQP exam and $350ish to register my licenses with the government once I passed. So we're up to what.. $850?

Once I did all that, I had to write another two exams ($50 each) called the Leveraging Exam and the 90-day exam, both of which were online and my upline just gave me the answers too. (Nice eh?)

Took just under 3 months as they stated, but it cost me near $1000 to get licensed, not $300.

#2 - During my "3 months of studying and exam writing", they wanted me to set up appointments so I could start training to learn how to do presentations.

The truth: All sales would go to the person doing the presentations (not me) and I'd get a small kickback of a few hundred bucks for the referral.

So let me get this straight -- I'm going to hand over my friends/family list to you, so you can close the deals, get the commissions, and kick me back a few hundred bucks for my troubles? I think not.

By not adhering to this, I was pestered and repremanded constantly. I stuck to my guns on this issue. The company I'm with now told me to set up 5-10 initial field training appointments. But with them, the client was mine, and 100% of the commission was too. And they came and helped me to do the presentation, fill out the paperwork and work with the client!

#3 - Customers are not yours until you reach the title "Qualified Marketing Director" (QMD). Where you make 65% commission.

Any financial company that "keeps your clients" for any time period, is one you should avoid. Sun Life, London Life/Freedom 55, Manulife, Fundex, etc. do not scoop your clients.

#4 - The pay structure only benefits you if you can recruit like a machine.

Building a huge downline is the only way to make money. Why? Because WFG pays 1/5 of what the industry pays at the start. On a $100,000 mutual fund deal (for example), the lending companies usually pay out about 5% commission ($5000).

That breaks down like this: Home office takes 16% (that's fair). You get 20% ($1000) and then the other $3200 gets divided up by your upline. If a QMD directly recruits you, he/she gets that whole $3200.

Now as you recruit, your commission improves. But knowing that it takes 3 months to "fully recruit" someone, you're going to spend a lot of time and use up a lot of sales at 20%-30%.

A friend of mine last year didn't recruit at all and earned $100,000. Had he worked for Manulife, Sunlife, London Life, etc... he'da made over $500,000 AND owned every client he sold insurance or investments too.

#5 - Sales meetings never discussed how to sell, generate leads, evaluate a customer's financial situation or how to effectively analyze a customer's needs and solve them. They only focused on recruiting.

I didn't have a big problem with this because I knew how to sell and taught myself how to do the presentation and analyze a customer's needs. However, people in my WFG were terrible at running meetings, motivating people and developing a team. They'd spew out the same crap week in and week out and it got old fast.

#6 - Weekly product meetings featured reps from financial institutions WFG did business with that would speak to the group for 1-2 hours about their products, services and how they help a customer.

That stuff was gold. I learned a TON during product meetings and rarely missed one. Plus, I asked the reps from the various companies for their permission to call on them when I have questions. They all encouraged me to do so, gave me their cards and some even offered to come on presentations with me.


VERY FEW make it. Those that do, do really well. Look at it this way, WFG has over 10,000 agents in Canada, and very few make money. The turnover is HIGH and the level of professionalism and development is low.

Can you make it? Chances are low, but it's possible.

But you can earn a fantastic living as a sales agent, where all you have to focus on is building your clientelle and earning above average commissions.

I left WFG before processing my sales because I didn't want to make 1/5th of what the industry paid and I had very little interest in recruiting "a team" when the environment that team would be exposed to was unprofessional and underqualified to teach and train "my team".

I make more money than the QMDs from the get go, and that's just on initial commission, not including bonuses. (By the way, the $2000 signing bonus was kinda sweet when I started!)

The WFG program isn't "a scam". Multi-level marketing is a legit way to do business. If it were a scam, the banks in Canada and the lending companies in North America wouldn't do business with them. And trust me, the banks, lending companies and fund companies make a ton of money working with WFG.

Where the "scam" feeling comes into play is when under qualified, uneducated reps mislead people so they can recruit them. And not everyone is under qualified, uneducated and misleading.

Just get all the info before you change your life.

Your Are Right Rohas, you can make money by having a business on WFG. but you did not explain everything. I mean like I have said before it is not a scam but it is a very risky move in order to start making money. its like gambling, there is only a few people who only have the success of achieving their goals on WFG. I know some agents and brokers that have that kind of business, and believe me they have LIED to their clients because I nkow some who got out due to stressful situations and I know them.OBVIOSLY they have told me not to tell but it is exposed now. Agents and brokers will do anything for money since they dont want to work and have the money the easy way, no offense but its true. So if you have a carrer or a major, your better off going for it because it is better doing something that you LIKE rahter than to LIE...

Everything from the entire post of this individual is entirely twisted. I am a current employee with world financial group i have been part of this such company and in business for myself but not by myself I am 18 years old and i am one of the youngest ''LICENSED AGENTS'' in the company..yess you must undergo a training program and invest a SMALL amount of capital to start your business and undergo licensing through the state of CA. so you do need to be educated before you are legally able to sell products and yes i am in business with my mother and step father and at this point we are very successful but it does take a very motivated mind that is the reason for what is called the ''mozone'' and it isnt just a place to be fake i mean you cant blame people for being happy with what world financial group has done for them, the part where bringing in family is half way true from what this individual wrote but i am here to correct your statements but reason for this is because it is considered your ''warm market'' and throughout the start of you ''joining'' or being ''recruited'' you go through a training program and where better to start but your own family to have them fully protected in case of a financial tradgity... But all people that think world financial group is a scam truly doesnt realize what kind of impact on your life it can truly have... What i know for myself is that i WILL be VERY SUCCESSFUL and i have already started to become successful. And for people reading the negative things and wanting to believe them just remember this EVERYONE is entitled to their own opinion whether they be right or wrong and there is always going to be something bad said about the great things in life, i hope i helped some of you out their re-assure you are doing the right thing

I am 40 years old and have been around the block to a point in my life to know a padded up scam when I see one.

I read some of the comments on this forum saying good things about it too, however, I am strongly inclined to believe that the people posting those good comments are part of the WTG organization.

I've been to these pep rallies before and they are a lot of hokie nonsense with annoying speakers smiling, excessive clapping, telling corny jokes, and basically trying to manipulate you with talking about all the nice things money can buy and how much financial freedom you're going to have with them.

It was a grueling experience and reminding me of one of those sales presentations for timeshares. I forced myself to be rude and got up and left in the middle of some 19 or 20 year old dingy-girl talking up there asking questions like: "How many of you love money"? "Show me your hands of who wants to be financially secure?" "Who likes to be their own boss?" You know...stupid questions like that and I knew I had to get out of this idiotic presentation because it was only a matter of time before they hit me up with what they were selling.

I'm not one who wants something for nothing like one of the previous posts mentioned. I paid my way thru college, I don't borrow money, and am willing to put up any amount of money I can afford if it's a good investment and good risk. These are bunch of yahoos trying to make a buck on unsuspecting people who don't know any better.

It's a disguised (and legal) pyramid-type scheme like Primerica. The pep rallies and recruiting methods are just another avenue of them making more money in addition to selling you a financial package of some sort and anybody who says otherwise is nothing telling you the truth.

If you want to get your certification or license to sell insurance then there are simple 2 week courses you can take along with entry level jobs that will show you the ropes. If you give these people your money then you have no one to blame but yourself.

I guess you got a whole different experiece out of it.
For me I thought WFG message and presentations was highly motivating.
Majority of people out there will QUIT anything before they have actually tried it out.
The presentations are design to keep everyone who comes to meeting motivated. It's this constant motivations that help people achieved their goals, win the olympics, write great novels. Truth is most people lack this motivation, so that is what the MOZONE was design to do. The mozone is design to create a sort of initial momentum for you to kick off your own internal momentum. Everyone have something inside them that keep them going when times are tough, but most of us get trap in this hamster-wheel that we can't seem to get out of, and before we realized it. We wake up in our 50 realizing Jesus Christ I"m hitting mid-life. We all have potential to make us great just most of us forget it's still inside us. The MOZONE was design to bring this out and force us to look at it.

I"m pretty sure you didn't stay with WFG for long, but my message to you is that ur missing out, your missing out on a great deal. I mean I am not sure what office ur from but for my experience. We have on going training MOnday through sunday by dedicated Financial Advisor who are making 6 figures who's willing to take their time out on sunday to train the new guys like me, which I"m sure they don't have to, but they want to. I'm pretty sure majority of my teachers wouldn't do that for me even on a monday (cause they have to come to work to earn their paycheck). Monday through sundays are full of product training if not in one office it's in the other. Great strategies informations are being pass out to consumers left and right and being filtered out by corporate so that me and you can get only the good one. Our mother, only accept creditable company to join their list of their product providers, and if ur really look them up they are truely great companies.

Maybe ur intention was not to help families, most people sign up expecting to make great money, sale lots of policies, get on free cruises. That's not we're about really, we're about selling back to the families, their dreams and their hopes, that have long been forgotten. We don't sell insurance, mortgage, and security. We sell dreams and hopes, and when you feel like your ready to insured your hopes, we offer lifeinsurance/investment vehicles to insured it, when you ready to dream again we offer motivation that keeps ur dreams alive and allow you to make great incomeS to buy that great house you wanted with a side profit (A commission from urself)

I believe your vision was distorted because truely. It's only 100 dollars to join and a lifetime of training. I'm sorry to say but I went ot a private college and my parents spent 65k on it, and a semester is only 3 months long that about 1500 per class per semester and usually I just sit in class yak with my freinds turn in my homework, and get lots of A, plus listening to my unmotivated teacher talks about his 2 weeks long vacation to Europe.

The way i see it is that, great values are hard to find, by the time you realized it. It's over...and that is why 90 percents of American makes under 100k, and by time for retirement they realize Gee my SS is not enough for me. Take advantage of WFG- Join the mission to help yourself (First) and serve the families that you know best and trust and only you can deliver the products in a great personal way.

I hope you join WFG again don't make the mistake most rep does...don't focus on the money

Even if you cant sell one policy in 2 years. It's like going back to college to get a Business degree, and not have to pay the pricey tuition, for 2 years. My bad it's like going back to college for life. Life is a journey never stop learning.

I guess you got a whole different experiece out of it.
For me I thought WFG message and presentations was highly motivating.
Majority of people out there will QUIT anything before they have actually tried it out.
The presentations are design to keep everyone who comes to meeting motivated. It's this constant motivations that help people achieved their goals, win the olympics, write great novels. Truth is most people lack this motivation, so that is what the MOZONE was design to do. The mozone is design to create a sort of initial momentum for you to kick off your own internal momentum. Everyone have something inside them that keep them going when times are tough, but most of us get trap in this hamster-wheel that we can't seem to get out of, and before we realized it. We wake up in our 50 realizing Jesus Christ I"m hitting mid-life. We all have potential to make us great just most of us forget it's still inside us. The MOZONE was design to bring this out and force us to look at it.

I"m pretty sure you didn't stay with WFG for long, but my message to you is that ur missing out, your missing out on a great deal. I mean I am not sure what office ur from but for my experience. We have on going training MOnday through sunday by dedicated Financial Advisor who are making 6 figures who's willing to take their time out on sunday to train the new guys like me, which I"m sure they don't have to, but they want to. I'm pretty sure majority of my teachers wouldn't do that for me even on a monday (cause they have to come to work to earn their paycheck). Monday through sundays are full of product training if not in one office it's in the other. Great strategies informations are being pass out to consumers left and right and being filtered out by corporate so that me and you can get only the good one. Our mother, only accept creditable company to join their list of their product providers, and if ur really look them up they are truely great companies.

Maybe ur intention was not to help families, most people sign up expecting to make great money, sale lots of policies, get on free cruises. That's not we're about really, we're about selling back to the families, their dreams and their hopes, that have long been forgotten. We don't sell insurance, mortgage, and security. We sell dreams and hopes, and when you feel like your ready to insured your hopes, we offer lifeinsurance/investment vehicles to insured it, when you ready to dream again we offer motivation that keeps ur dreams alive and allow you to make great incomeS to buy that great house you wanted with a side profit (A commission from urself)

I believe your vision was distorted because truely. It's only 100 dollars to join and a lifetime of training. I'm sorry to say but I went ot a private college and my parents spent 65k on it, and a semester is only 3 months long that about 1500 per class per semester and usually I just sit in class yak with my freinds turn in my homework, and get lots of A, plus listening to my unmotivated teacher talks about his 2 weeks long vacation to Europe.

The way i see it is that, great values are hard to find, by the time you realized it. It's over...and that is why 90 percents of American makes under 100k, and by time for retirement they realize Gee my SS is not enough for me. Take advantage of WFG- Join the mission to help yourself (First) and serve the families that you know best and trust and only you can deliver the products in a great personal way.

I hope you join WFG again don't make the mistake most rep does...don't focus on the money

Even if you cant sell one policy in 2 years. It's like going back to college to get a Business degree, and not have to pay the pricey tuition, for 2 years. My bad it's like going back to college for life. Life is a journey never stop learning.

I guess you got a whole different experiece out of it.
For me I thought WFG message and presentations was highly motivating.
Majority of people out there will QUIT anything before they have actually tried it out.
The presentations are design to keep everyone who comes to meeting motivated. It's this constant motivations that help people achieved their goals, win the olympics, write great novels. Truth is most people lack this motivation, so that is what the MOZONE was design to do. The mozone is design to create a sort of initial momentum for you to kick off your own internal momentum. Everyone have something inside them that keep them going when times are tough, but most of us get trap in this hamster-wheel that we can't seem to get out of, and before we realized it. We wake up in our 50 realizing Jesus Christ I"m hitting mid-life. We all have potential to make us great just most of us forget it's still inside us. The MOZONE was design to bring this out and force us to look at it.

I"m pretty sure you didn't stay with WFG for long, but my message to you is that ur missing out, your missing out on a great deal. I mean I am not sure what office ur from but for my experience. We have on going training MOnday through sunday by dedicated Financial Advisor who are making 6 figures who's willing to take their time out on sunday to train the new guys like me, which I"m sure they don't have to, but they want to. I'm pretty sure majority of my teachers wouldn't do that for me even on a monday (cause they have to come to work to earn their paycheck). Monday through sundays are full of product training if not in one office it's in the other. Great strategies informations are being pass out to consumers left and right and being filtered out by corporate so that me and you can get only the good one. Our mother, only accept creditable company to join their list of their product providers, and if ur really look them up they are truely great companies.

Maybe ur intention was not to help families, most people sign up expecting to make great money, sale lots of policies, get on free cruises. That's not we're about really, we're about selling back to the families, their dreams and their hopes, that have long been forgotten. We don't sell insurance, mortgage, and security. We sell dreams and hopes, and when you feel like your ready to insured your hopes, we offer lifeinsurance/investment vehicles to insured it, when you ready to dream again we offer motivation that keeps ur dreams alive and allow you to make great incomeS to buy that great house you wanted with a side profit (A commission from urself)

I believe your vision was distorted because truely. It's only 100 dollars to join and a lifetime of training. I'm sorry to say but I went ot a private college and my parents spent 65k on it, and a semester is only 3 months long that about 1500 per class per semester and usually I just sit in class yak with my freinds turn in my homework, and get lots of A, plus listening to my unmotivated teacher talks about his 2 weeks long vacation to Europe.

The way i see it is that, great values are hard to find, by the time you realized it. It's over...and that is why 90 percents of American makes under 100k, and by time for retirement they realize Gee my SS is not enough for me. Take advantage of WFG- Join the mission to help yourself (First) and serve the families that you know best and trust and only you can deliver the products in a great personal way.

I hope you join WFG again don't make the mistake most rep does...don't focus on the money

Even if you cant sell one policy in 2 years. It's like going back to college to get a Business degree, and not have to pay the pricey tuition, for 2 years. My bad it's like going back to college for life. Life is a journey never stop learning.

I guess you got a whole different experiece out of it.
For me I thought WFG message and presentations was highly motivating.
Majority of people out there will QUIT anything before they have actually tried it out.
The presentations are design to keep everyone who comes to meeting motivated. It's this constant motivations that help people achieved their goals, win the olympics, write great novels. Truth is most people lack this motivation, so that is what the MOZONE was design to do. The mozone is design to create a sort of initial momentum for you to kick off your own internal momentum. Everyone have something inside them that keep them going when times are tough, but most of us get trap in this hamster-wheel that we can't seem to get out of, and before we realized it. We wake up in our 50 realizing Jesus Christ I"m hitting mid-life. We all have potential to make us great just most of us forget it's still inside us. The MOZONE was design to bring this out and force us to look at it.

I"m pretty sure you didn't stay with WFG for long, but my message to you is that ur missing out, your missing out on a great deal. I mean I am not sure what office ur from but for my experience. We have on going training MOnday through sunday by dedicated Financial Advisor who are making 6 figures who's willing to take their time out on sunday to train the new guys like me, which I"m sure they don't have to, but they want to. I'm pretty sure majority of my teachers wouldn't do that for me even on a monday (cause they have to come to work to earn their paycheck). Monday through sundays are full of product training if not in one office it's in the other. Great strategies informations are being pass out to consumers left and right and being filtered out by corporate so that me and you can get only the good one. Our mother, only accept creditable company to join their list of their product providers, and if ur really look them up they are truely great companies.

Maybe ur intention was not to help families, most people sign up expecting to make great money, sale lots of policies, get on free cruises. That's not we're about really, we're about selling back to the families, their dreams and their hopes, that have long been forgotten. We don't sell insurance, mortgage, and security. We sell dreams and hopes, and when you feel like your ready to insured your hopes, we offer lifeinsurance/investment vehicles to insured it, when you ready to dream again we offer motivation that keeps ur dreams alive and allow you to make great incomeS to buy that great house you wanted with a side profit (A commission from urself)

I believe your vision was distorted because truely. It's only 100 dollars to join and a lifetime of training. I'm sorry to say but I went ot a private college and my parents spent 65k on it, and a semester is only 3 months long that about 1500 per class per semester and usually I just sit in class yak with my freinds turn in my homework, and get lots of A, plus listening to my unmotivated teacher talks about his 2 weeks long vacation to Europe.

The way i see it is that, great values are hard to find, by the time you realized it. It's over...and that is why 90 percents of American makes under 100k, and by time for retirement they realize Gee my SS is not enough for me. Take advantage of WFG- Join the mission to help yourself (First) and serve the families that you know best and trust and only you can deliver the products in a great personal way.

I hope you join WFG again don't make the mistake most rep does...don't focus on the money

Even if you cant sell one policy in 2 years. It's like going back to college to get a Business degree, and not have to pay the pricey tuition, for 2 years. My bad it's like going back to college for life. Life is a journey never stop learning.

I've just started learning about WFG, but a friend of mine at work has been doing it for almost half a year. Like you, I'm curious about what they have to offer. The office that I attend is a little bit different in the detail of the business, although the mozone is pretty much like any other motivational groups that I've known. I have a very different viewpoint from your comments as follows:

- Training: As I am professionally a business analysis and mentoring expert during my day-time job at one of the best known services companies in the US, I found it very similar to any training. The bottom line is to develop positive leadership attitude. If you have a nag to criticize others, you are not likely to succeed in any business anyway. So, I found that very normal.

- Mozone: If you play sports or go to any high-school, you'll find motivational activities embedded into the program. Nothing new to me.

- Financial Concepts: I'm an MBA, so what they showed is not new to me, either. I also found it interesting that there are other insurance sales from companies showing the very same thing. Sounds like it's common to the industry.

- Dream Map: This is where I disagree with all of the ripoff reports. Prior to witnessing how my friend works, I've already had universal life with State Farm. I went through the exact same financial health questionnaire and consulting as what my friend and her QMD presented to me. At the end, I actually was able to allocate the excess of my spending and picked additional savings/investment for me. My friend and QMD actually provided me with several options from several companies, explained to me the differences, and let me pick the one that's best for me. I didn't feel that they pushed to sell me any particular policies. That said, I still don't see anything that deviates from usual insurance sales.

- Types of savings/investments: I agreed that WFG pushed for contact lists. Amway, Quicstar, Melaeuca, and any other direct sales also do this. I saw that a representative from WFG actually signed 401K plan with a company where I'm working my day-time job and my friend actually informed other friends to look into it. So, I didn't get the impression that WFG only sells universal life insurance policies or securities like what I read in the ripoff complaints.

- Recruit and licensing: I've read other people's reports, which sound like they don't want to spend anything and want everything for free from the company, but I could be too quick to judge for the time being. I'm going to spend some more time to check it out before making any further comment on this. On the overall level, WFG's encouragement to get licenses with a local state sounds alright. I've met other companies who actually guaranteed to train and certify within two weeks by themselves. Now, that's much more terrifying than what WFG does.

I'll keep you posted as how it goes.

Thank you all so much. I could have totally wasted my day going to what I thought was going to be an interview for a new Office Manager job. Boy, was I wrong!

I was contacted last night by 2 people from WFG. I had posted my resume on careerbuilders just 3 days ago, and I was very excited to already be getting 2 phone calls for "Interviews".

The first person I spoke to, Ienella (they would only give first names, which I thought was odd), said they were interested in interviewing me. After all, my resume was so impressive! She didn't offer too much information about the company she was calling from, which, again, I thought was odd. But I hadn't had my resume out to anyone in many years, so times could have changed in 10 years or so.

We spoke for a few minutes and she set up an "interview" for Wednesday at 11:00 am. I was so excited! I would be receiving an email confirming our interview along with the address of where the interview would be. Again odd. Why was she unable to tell me over the phone where the interview would be? And again, I chalked it up to not being in the "looking for a job" category for such a long time.

That same evening, there was a message on my voicemail from a woman named Janet from the same company. Odd again? Oh yes! Why would 2 people from the same company be calling me on the same night? I just didn't get it, until I found this website. Now I get it completely!

When I received the confirmation email, I immediately Googled the name of the company. After sleeping on this news of an interview in a couple of days, I was really getting curious about the company I would potentially work for in a few days or weeks. My husband kept asking me questions, like "What kind of company is it?" And, "What will you be doing?" I couldn't answer him, even though I had asked those same questions on the phone a few minutes ago!

So now, after reading so many of these postings, I will not be going to my so-called Interview tomorrow morning at 11:00.

Thanks again, I am so glad I found this site!

Sorry to say, but I can disagree here.

Not sure about the US, but in Canada, you can't become a financial adviser without getting a license, and WFG makes $0 on that.

I had a WFG agent sit down with two friends of mine the other day. Both of them were extremely well versed in the loopholes of Canadian law, and everything the agent said to them in his presentation was in fact the truth, regarding the pitfalls of investing and such.

Maybe it's different, depending on the office or city/country. I'm not saying to blindly charge ahead and join a company, but sometimes generalizing is a dangerous thing.

It should also be noted that a person often starts part-time at a WFG branch, keeping their "other job" because a person would have to be crazy to quit their job and HOPE they're the sort of person who can become a financial adviser. It's not for everyone.