Jul 202011

The year was 2006. At least I think it was. Do you expect me to remember that far back?

First, a little background about the company in question, World Financial Group. I’m going to abbreviate the name of this company to WFG, since there’s no way I’m typing that out 52 more times for this post. Anyhoo, the company is basically a pyramid scheme masquerading as a financial services company. That blanket statement is a little unfair, but is basically true.

WFG is wholly owned by Aegon, a large Dutch insurance/investment company. The company employs a bunch of independent sales reps, who each operate their own office, if their basement counts as an office. The sales reps are able to sell a bunch of different mutual funds and life insurance products from Aegon. Much like regular mutual fund salespeople, they’re paid one of two ways- either from sales charges (front end loads on mutual funds for new customers) and trailer fees (part of the management fees paid by current customers).

The company’s big push though, is in recruiting new reps, where the pyramid part of the scheme shows up. If an existing rep recruits a new rep, that rep gets a percentage of the new person’s income. If that new person recruits someone underneath them, the pyramid becomes two levels deep, and the original person at the top gets a smaller residual from the newest rep. Obviously, you want as many people underneath you as possible. I’m going to refrain from making a “that’s what she said” joke. Except I didn’t.

Back to my story. I worked with a guy who was quite interested in investments. We would spend break time together discussing various financial topics. It was nice to spend time talking to someone who wasn’t a financial moron. After a while, he quit the grocery store we both worked at, determined to find his future in financial services.

A few months later, he contacted me. He knew I had a couple of bucks to invest, and he had some great stuff that his company offered. I wasn’t really interested, since I have a pretty big hate on for mutual funds. He offered to buy lunch though, knowing my weakness for free food. Combine that with my friendship with the guy, and I was willing to give this a shot.

I show up for lunch, and quickly the meeting turns away from my investments and towards my future plans. He laid on the compliments pretty heavily, even saying I had the greatest financial mind he’d ever met. I responded, telling him he clearly needed to meet more people. I was confused, why was he kissing my ass so aggressively?

Quickly, he dropped the bombshell. He wanted me to come work for WFG. He was making all sorts of money, the job was awesome, blah, blah, blah. He mentioned how I could do it part-time, while keeping my job at the grocery store. At that point, it hit me. WFG was Primerica junior. Besides, who’s gonna trust their investments to some guy still working at a grocery store?

Flashback inside the flashback time: When I was 18, I thought I wanted to become a stockbroker. Somehow, I found out about a Primerica meeting in my area. I went, got excited about the whole concept for about 20 minutes, then quickly saw through it. All Primerica cared about was getting more people in the pyramid. Apparently you were basically fired if you didn’t recruit aggressively. It was obvious, even to 18 year old me, that the reps that worked for Primerica were the bottom of the ladder of the financial services industry.

Back to the lunch meeting. I was intrigued, so I let him finish his spiel. This is where it kind of got weird.

He outlined WFG’s big bold plan for their clients. If you bought into the plan, you’d never pay off your mortgage. You’d get a giant line of credit for a mortgage, just paying the interest on it every month. You’d then take the money that would be going to principle and investing it. Since the stock market traditionally does better than the real estate market, the argument was that you’d be better off, long term, if you funneled all your excess capital into the market.

There’s just a couple of flaws with the plan though. The stock market is prone to the occasional 30% drop. We’ve seen a couple of them over the past decade alone. This would be especially painful for someone who held close to all of their portfolio as stocks. And the other flaw is, how does the mortgage get paid if you’re only paying interest? Most people look forward to paying off their mortgage. They value the freedom that brings.

WFG agents love this plan, and I’m sure the one that came up with it got an extra hearty slap on the back. The more money the client invests in their funds, the more that rep will make in fees. The plan has just enough plausibility to make it believable. The numbers might even make sense. Most people though, will choose to pay down their mortgage, and rightfully so. Besides, most people don’t have the discipline to stick to the plan past the first major stock market correction.

After that, the lunch meeting turned into a pretty hard sell job. He was all about telling me how successful I’d be. I’d be making tons of money in no time. Never was there any mention of the pyramid scheme. Gee, I wonder why that was? I fairly quickly (and politely, cause at least I pretend to be a nice guy) told him that I wasn’t interested. It seemed like a pretty poor way to sell mutual funds, a product that I wouldn’t want to sell in the first place. So saying no was a pretty easy choice.

Yeah, that was kind of an anticlimactic end to that story. Does anyone have an experience with WFG that was a little more exciting?

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  141 Responses to “My Experience With World Financial Group”

  1. I remember WFG and I think my wife’s uncle was involved (and tried to pitch it to my father in-law).  Of course, this guy is involved in every pyramid scam out there…he tried to get me to invest in ATM machines in Spain of all places, saying they don’t have ATM’s in Europe like we do here.  Umm, I’ll give that a pass.

    Anyway, you’ve got me curious about what ever happened to his WFG exploits.  I’ll find out and report back, hopefully with an exciting tale.

    • Did you ever find out what happened? I’m literally waiting on pins and needles over here.

    • WFG is copartners with transamerica and Aegon is their owner. becuz the company doesnt pay for marketing like other large companies they pay an average merketing amount to the company for helping a family or person and an associate of theirs gets paid a percentage based off of their position in the company, becuase you have the option of starting people with the company you just et paid a higher percentage it has nothing to do with a percetage of your associates paycheck. their is about 17 ways of getting paid wtih the company and we get paid 8 times a month. so before you guys start assuming you know about company research it with an open mind, not thinking you already know what it’s about cuz obviously you dont. your grocery store job is more of a pyriumid then world financial group. it’s a lot easier for me to get to my bosses positition the you get to yours. they deal with a lot more then just mutial funds and annuities, even more then life insurance.

      • they truely help middle class families figure out how the rich stay rich and how they manage their money. on top of that they provide a great career plan for associates, they are helping the ecomony in so many ways and i’m blessed to say im apart of the company!

        • It would be easier to take you seriously without all the obvious typos.

          • Bwahahahahahahaha!!!!

          • MFG is legit.
            I have been with the company a month now and already the decision to work as an associate part time have benefit me and my family financially. Unless you investigate for yourself, it will be impossible to think outside of the box when you trust on another mans opinion.

          • Will you’re an idiot. *Wfg (not MFG) is not legit. And I’m so sure you have prepared a strong rebuttal from the MONTH that you have been working there.

          • @ “Will you’re an idiot”

            Do you realize you just responded to words written in 2012? (roughly 13 or 14 months ago). I doubt “Will” will return to give us an update.

    • I read pyramid scheme as a big misunderstanding as there are many people worldwide who make a good dollar by helping others do the same through the MLM scheme. The groups in North America are small compared to many other countries. We in North America are pretty closed minded about ways of earning an income. People in other lands are far more open to options other than job (HEHE Just Over Broke in many cases HEHE) If they have a legitimate product that is used and/or sold there is nothing illegal about the business.
      I you think it is a scheme then possibly some learning about the business idea is in order. Take a look at ACN, Shaklee, Amway, Melaleuca. Even huge corporate organizations like IBM use networking to move their product. AH!!! maybe there is something legitimate to learn about in MLM stuff

    • I believe it was Anthony Robbins who understands business a bit better than most people who studied the MLM system and called it Franchising Squared A pretty good comment from a pretty smart open minded guy

      Wikipedia says:
      World Financial Group (WFG) is a financial services marketing organization based in Johns Creek, Georgia that markets investment, insurance, and various other financial products through a network of associates in the United States and Canada. It is a wholly owned subsidiary of AEGON.[1] Although WFG is publicly referred to as a Network Marketing company, the company has released several illustrations describing it as a unique hybrid business model utilizing aspects of network or “referral marketing,” franchising, and corporate business models.

    • Big time red flags! I work in the insurance/investment industry. Beware! MLM’s are often illegal and people are constantly misguided.

  2. No experience with this.  Though, I thwarted a really annoying HR person for a so-so firm.  Still a joke of a firm, so whatever.

    I find this kind of system interesting though. First, because I’ve heard jokes about Primerica but didn’t realize it was a MLM.  Second, because it would seem to me that having reps chase other reps would be pretty counterproductive.  I mean, at the end of the day they make money by selling investments to investors, why make people spend so much time recruiting for more salespeople?

    • I think the reason is because they know that their model is pretty bad at selling investments, so they try to recruit people in the hopes that the can find someone good. Also, I’m sure the company wants to expand too.

  3. You’re all a bunch of clueless folks full of opinions and hear-say. As soon as you’ve found out that these schemes go contrary to JOB mentality, you label them as scams. You would rather kiss ass 8 hours a day on someone else’s terms rather than polish your own asses and be rather proud of it.

    • Uhh… Have you read the rest of my blog? Obviously not.

    • Employees will always be employees, wondering if they’re gonna have a paycheck tomorrow. If one doesn’t understand WFG, then he or she must be the one who is always be crying about the economy and depending on the government. Hahaha!

    • Licompratix, why are you getting so upset and defensive? Chill out. Is it because you work for WFG?

      By the way, there are plenty of people who know how to run their own business, be their own boss, but have integrity in what they do and hold a high standard of expertise and excellency in what they do. And some of those very people look at WFG and disapprove.  So don’t say it’s “clueless folks full of opinions and hear-say”.  Some of these people have more letters behind their name, own more property, have run more businesses, and have bigger bank accounts than the person that you report to.  They certainly aren’t clueless dumb folk.  When those kinds of people talk, I would listen.

    • Where does ethics and substance come into WFG’s business model.  No one is labeling WFG as a scam, just a flawed business model which provides no goods or services to society.  The end game doesn’t look too good for WFG if they can’t recruit young and gullible folk.  Without the added theatrics of minor investment products, you are left with a pyramid scheme.  All you have to be proud of is your title as an “opportunity salesman” which is just as comparable to a telemarketer, because in essence, thats all WFG agents are.

      • First of all, people are labeling it a scam because either they were exposed by the wrong agent or the people are closed minded to a great opportunity. Second, it provides no goods or services to society? Since when does extra income, financial security and stability, safe tax-free retirement, and tax-free life insurance not beneficial to anybody??? There are no added theatrics nor is it a SCHEME because pyramid schemes are ILLEGAL. Yep, WFG is still up and running and stronger than ever and helping people and families change lives. Im sorry for your closed mind and not getting all the FACTS and just assuming, like my girlfriend does all the time, but you are wrong in every way about this business. Have a great day! Good luck in your future endeavors

    • Thank you.. We still need people to bag our groceries man so let them think this way lol

    • The difference is your job pay a steady bi-weekly amount, as WFG does NOT!

  4. If you dont have big goals and dreams ? you will work for someone that dose lol have fun.

  5. If you work for WFG, you make money by selling financial products and by recruiting people because the more people you get underneath you, when they make money off what they sell, you get commission on that.
    It’s not even the whole “pyramid” business model they have that bothers me.  It’s that they have no consistency with the “expertise” that they’re SUPPOSED to have as “financial advisors”.  WFG hires anybody who can walk and blow bubble gum at the same time (because the more recruits you get under you, the more money you can make). Their “financial advisors” are not required to all achieve a certain level of education or or to maintain it. There’s no standard set that’s consistent through out the whole organization. A lot of their advisors don’t even know what schooling they should have under their belt to advise people on their finances and financial planning.
    I went to school in finance and I’m halfway through my education and certification.  I had a financial planning presentation in school where my instructor invited financial planners and advisors and managers from all the big financial firms and banks to be our live audience, to question us, to critique us, and grade us. My instructor wasn’t familiar with WFG but someone he knew introduced a guy from WFG to my instructor.  So my instructor had WFG come to our class presentations. There was one moment where, as the current group up at the front presenting was answering questions they were grilled with by advisors from Investors Group, from Freedom 55, from RBC, and others, one of the girls from WFG decided to throw in a question.  I’ll never forget how the room was stunned.  I don’t remember the question anymore as it was two years ago but the WFG girl asks her question, I think it was something about “why did you decide to recommend Critical Illness when Life Insurance….” something or other.  And the group up there gave her an answer that was correct, and shamed her for asking the question. All the others in the room looked at her in silent chuckle I could tell.  She should have kept her mouth closed but she decided to open it and ask a question that she clearly thought was a good question to grill the group up at the front.

    In short, WFG reps come in all shades as ANYONE can get hired. And within their company, no required level of education or knowledge about the products they’re selling exists. None of them understand financial planning in its entirety and they’re mostly driven and pushed to bring in new recruits rather than KNOW what the heck they’re doing when it comes to doing your financial planning.

    • No required level of education or knowledge about the products they’re selling exist? This is not True!!
      An associate of MFG must attend financial classes and take an exam to become license.
      Without being license an Associate will make NO MONEY…
      learn before you speak..

      • The point of that was to say you don’t need any PROPER education to make money.
        The money you earn is not hard-earned money but rather money you have taken from friends/families who you have recruited. This does not take any academic knowledge nor does it do any good to the society.
        Sure, you may earn money but that’s the end of it. You did not discover anything that may change the face of the earth or help another human being through your work. Now that is some unethical earnings. This is why we call WFG a pyramid “company.”
        If you want money, go ahead but you’ll soon find yourself to be disrespected in the society.

        • WFG associates sell mostly insurance and retirement plans. Without making sales there will be no revenue, as there is no commission for getting new recruits unless the recruits make sales.

          Insurance and retirement plans are a service to society – as such I see no reason to disrespect WFG associates.

          WFG is kind of like any other business in the sense that the larger and stronger your team, the more everyone benefits.

          • Isn’t that for all type of business out there? Make more sales to make more revenue? No sales no revenue?

  6. This guy sounds like he broke some kind of WFG secret code!  Funny when people talk about what they don’t understand.

  7. [...] Ever had an experience with Primerica or World Financial Group? Many people think  both companies are nothing but a scam, while others have had great success. Go check out my story about my experience with WFG. [...]

  8. I was into WFG for about 1 month. Even went to the convention in Vegas.  The Comvemtion of Champions as it was called is nothing more than a rah ah for the big shots. Than there is a day of how WFG made me a millionaire. All stories sound the same. Working in so bad job and recruited be WFG for ther own besiness.  2012 the mission is to “help” 100000 families in 100 days. Forbes Mag. had as ad in the July issue. What isn’t told is to help one familiy you might have to bother 80 people to get one in. To get you name in the Oct issue you have to get 30 families to join or Hlp. Think about it that is 2400 people to get the 30. Yes I had dreams of my own business when I joined.   Why do you think the CEOs and VPs want you  to do this? Because THEY want more money. Every year 60% drop out.  You might think but 40%stay. WFG wants you to stay for 5 years. How many make the money they say you could after 5 years. not many. If you can stand being rejected be you family and friends go ahead and join.  When I was in Vegas Nobady talked about anything else. Just WFG. It could be a cultish kind of way to live. But it is not for me.

    • I was invited to the WFG seminar one day by a friend of mine . I was a little bit skeptical when i met my friend’s friend ; when they explained to me about the whole process of what they are doing . I went there and attended the meeting . One award thing i found out is , before they initiate their ceremony , they greeted all the new comers in ” GOOD MORNING ” , i have no idea why they say ” Good Morning ” but instead they should have greeted Good Evening since it was 8 PM . I am so positive that i was a pretty Good observer . Fist , i thought it was a mistake . I also found out the Pyramid symbol which is weird . So i was more intrigue to find out their back ground and their intention for this recruiting people so aggressively and more like they are trying to brain wash and convince you as soon as you are in their seminar . The woman who gave us a presentation was basically a house made . She is from Philippine . I like the fact that she is being honest about her life and career . But when i asked her Business card , she inclined me that she don’t have one but then later the gentle man next to her seemed to be approved by his eyes contact . Then she came up to me and handed me her business card with a smile . I looked at her business Card and it said – marketing director . I was pretty much impressed but i wonder why this is obviously inconsistent in a way she claimed and presented as how her previous job unable her to make money but unlike the privileges she gained when she join WFG . I Just wanted to give you a glimpse , it just don’t really make sense . Be careful guys !! I know that we all are trying to find ways for our better future with the same concept of making money behind that and apply to make it reality but instead you will end up quitting your career and finally stuck in the pyramid cycle . Go there for yourself , and you will find out what it is .

  9. Lol… MassMutual tried to recruit me, who is WFG…. how about that huh?

  10. [...] Aside: Go check out that time I was “recruited” by World Financial Group. [...]

  11. Here’s my story….Got invited to the WFG Convention in Vegas!!!! Though I was told it was going to be a life-changing event, my suspicions lingered. Just like many companies they have testimonials…these people seemed to have been in REALLY bad places before coming to WFG. But if we all think about it..most AMERICANS ARE, they’re just in DENIAL!!!We witness it on TV all the time!!!!

    -Spending down on a 401K to maintain expenses! – Suze Orman Show
    -Mortgaging a home that worth less than what your paying! – HGTV Real Estate Intervention
    -Holding onto a small-business that’s Tanking! – Restaurant Imposssible/ Hotel Impossible
    -Crappy Job/ No $$$ to send your kids to College! – Dirty Jobs

    The guy who started this Blog is working at a GROCERY STORE for goodness sake??? Are we for real! We’re judging a company who’s purpose is to HELP ALL AGES SAVE FOR RETIREMENT? Grocery stores don’t offer you a 401K…if you ask me you should have opened up a policy and INVESTED in YOUR FUTURE vs. WAITING for SOCIAL SECURITY to send you a check, Moron!!!

    {Our issue in America is complaining and judging those that want to do something about their financial troubles and thinking it’s okay just to have intellectual conversations about stocks & finance while we force ourselves that we love our MISERABLE JOBS. We aspire so bad to reach that level of success and professionalism, that we’re willing to judge those on their way to the top (who merely CHANGED the way they think). While we take our lunch break at the Grocery Store to blog about our opinions via cell, then clock back into work and ask PAPER or PLASTIC!!!!}

    • Thanks for the crazy Joanne.

    • To Joanne T.
      Many on this blog who have supported WFG have made the statement “get the facts before you talk” and I think that standard applies to all of us.
      Shaw’s Supermarkets started its 401 (k) in 1975
      Market Basket has a plan originated in 1990
      If you are in the financial services industry you know how to research Form 5500 filings and you will find many grocery store/supermarkets that offer 401(k)s.
      I do not support ANYONE disparaging an individual or firm that is earning an honest living.
      And no, I do not work for a supermarket or any other retail company, but I am glad that many people do, or shopping would be impossible for me.
      I could not be happy working the hours or handling the demands of being a surgeon. And many have “God complexes” about their work. But that does not mean that what they do is less important or not as good as what I do.
      We should ALL have a little more respect for our working neighbors.

    • Of course, you know (or should know) that no one can sell any financial product in this country without being licensed/approved by the Department of Insurance, SEC, NASD and/or the FTC. Therefore, if WFG is a pyramid, then where does the pyramid scheme really lie? McDonalds, Jack-in-the-Box, grocery stores, etc. — all have to have some sort of approval/licenses to do business in this country and those countries abroad. Agents (all alike) are paid as 1099 (with privileges afforded to business owners), rather than W-2 (without). WFG only sale to people who want to buy, and recruit the ones who want to take charge of their own destinies. Who has mastered and/or shares the wealth building concepts to middle-class america (how money really works)? It is not taught in any educational institution (public or private) in this country. The last I saw “too big to fail” companies took our monies without a vote from any one of us, and then taxed us on top of that. Please comment (if you can) on from where did Warren Buffet learn the concept of wealth building while you continue to research/criticize WFG. Bottom-line, after the smoke clears, “how much of your hard earned money (either by 1099 or W2)) can you really keep?” By-the-way, in what position are you (grocer) skeptics on the food chain?

      • Hmm. Good point.

        Why did Warrent Buffet invest in network marketing companies (MLM) if all they are is a scam?

  12. I’m trying to find the company that produces the most million dollar earners.
    So far from what I’ve found.
    Primerica is in the lead!
    The most seven figure incomes earners and six figure as well.

    Has anyone else done any research?

    Please let me know and share…………

  13. I confused. I want to know the true. What is going in this world.

  14. This is wrong and this person doesnt unstand wfg.you dont have to recruit it is up to you and you dont invest to money you turn it over money mannager and name brand companies and they started wfg because of the promblems with primeamerica.why is transamerica merged with them this year if they are so bad.only a looser would write this garbage.

  15. Here will be my experience at WFG. Sorry if this is too long. I have currently been applied as a business partner in the WFG program through an introduction from a long time used to be friend of mine. After a few messages he has sent me this information and these are the exact words used. “Mm well its not only geared toward finance majors. Ur gonna hear the corporate overview of the company. Meeting the ceo and many branch managers. I cant give specifics via phone talk or text. Its best if u come for yourself. If u dont like this job. I can recommend u to my temp agency to get u a nice paying job.” These words came out after saying he has a job lead but there is no job that I am applying for. This conversation started in December 16th and he finally gave the company name on December 20th. When I asked him is this a career event? he did not answer. I looked up WFG and all the reviews written but decided to trust my long-term friendship. After the first meeting in December 22, and after watching the corporate overview, they wanted me to set up an interview within 48 hours. Me and one other person I brought made the interview to be December 23 at 10:00 am. We were there 15 minutes early but the main person who was interviewing us came 10 minutes late and the friend that invited me came 40 minutes late. He was either acting or was really mad at the friend that invited me for being late. At the end of the interview, we were told we needed to sign up and no questions were asked if we really wanted to join. Now in this signing up process, he asked for my social security number. Yes it was an information needed to sign up but this is private information. I was not smart enough at the time to confine that information and I am regretting this right now. Paying a $100 fee for first becoming a business partner was required and this was not such a problem because yes there are companies that do this without doing a fraud to the individual. And at the end of the interview I asked “How will we find clients?”. He said “We’ll help you through that”. I told the friend that invited me after the sign up that I will not recruit any of my friends. He said that “that is not the point”. After the sign up, I attended another meeting and I was shocked to understand the end of my friendship with the person that invited me. I will not reveal what I have learned there because I am trying to sound as neutral as I can about this event and I am afraid on how current WFG workers may react towards this. When I asked about getting clients or license first, the answer was “Worry that later cause we will take you step by step at a time”. I am currently trying to get my account terminated from this company as soon as possible but I do not no how since this company does not “fire” anybody unless they are doing any illegal activities. If anybody knows how, please write the procedure down for me. Not saying this company is fraud, its just my experience there was not really amazing and I don’t want my personal information in the hands of the company I am not planning to work for.

    • Jake,
      It seems like WFG and the sales side of the financial industry may not be a good fit for you. First, working at any financial company as an advisor/broker/associate/etc is a sales job…often times paid via commission only. And since newbies have no experience dealing with any other people in that capacity, they are often trained to prospect their “warm “market for leads…simply put, sell to friends and family. However, you are new and do not wish to experiment and gain your experience making mistakes with the financial well-being of those close to you.

      WFG is not a scam…those of you who’ve experienced it through new associates are simply dealing with people who do not have enough experience and think their job is only “recruit new associates”. That is not required, but like any business, you will do so to expand into other people’s networks. Every company does that…call it recruiting (every branch of the military, Avon, Amway, all banks, sports industry scouting, etc) or advertising (I won’t assume that anyone reading this blog lives under a rock and can’t create their own mental list of companies’ need to advertise). As with any other mostly independent company, your experience is sometimes only as good as the manager/mentor/associates who are in charge of smoothing out your experience through the process. Oftentimes, as in the case of WFG, the company is too big to ensure that everyone is having the model experience. And the process is sometimes outside your comfort zone because you are new to that type of work experience. The hard part is that it’s not a job that pays you a salary…you have to create that yourself…you own the store…find the customer/client to buy your services since they are out there buying from someone else. However, you need to hone your skills…sales skills, product knowledge, and the art of human psychology. Think of some of your doctors/dentists/chiropractors/lawyers/etc who are in a private practice…same thing. Get license, get experience, take more continuing ed classes to always be learning new procedures and laws, etc, rent an office, etc, convince clients from other practitioners to come to them because they feel their service/skills are better. If you saw some of your classmates advertise their medical or law practice, would you use their service? Some of them you would and some NO…because you remember they were goofballs in class! All industries have goofballs! But some of your classmates were brilliant and you’ll gladly give them a try and stay with them unless they make constant errors and you find a more capable practitioner to give your business. The same process is going on at WFG. Some associates are working in unfamiliar terrain and don’t understand the financial industry or the products…and not all the products are created equal or meet all your needs. Then you have individuals who are only in it for themselves and look for the quick buck approach…those are the ones you should avoid like the plague!

      My only agenda was to advise you to resign by submitting a letter of resignation. It’s that simple! However, if you do not attend meetings or partake in any of the events, make any sales (which you can only do and get paid for if you’ve passed your exam and are actually licensed), then you naturally fall off their grid through an “Inactive” status. But the letter of resignation is best if you were assigned an associate code, etc. Good Luck:-)

      If anyone else in the NY/NJ area wants to understand this industry from a well informed point of view and wish to consider it as a viable business model, send me an email at NAExpansion@Gmail.com. And good luck to those who are constantly seeking, asking questions, and are forever curious till they find a good fit for their life’s goal and are able to pursue it with integrity.

      • Mr. Anonymous,

        it is very nice reading your post. On Feb.1, 2013, I attended a WFG convention in Santa Clara, CA. What I have learned most about during the 3-day event is recruiting people instead of products. Post 16 by Nick Kett has said something I am really concerned about. Could you share some details on what Nick has brought up? Your thoughts are greatly appreciated.

      • Well put Anonymous!! Excellent!!

  16. Google for yourself the WFG:

    Agents from this company said that their objective is to help families to be financial independent. They push people(future members) to get the full insurance – members are full life insured at the same time they have cash value for them to use during their retirement. But the truth that cash value(they/agents call it savings) is not their by the time members need it, as oppositely described by their agents. The life ins. products they usually sell is an ART (your premium is increasing yearly w/ same face value) but members are paying same amount of premium monthly thru the whole process EXCEPT that the increasing/additional amount from your premium is DEDUCTED from your cash value. But the agents ARE NOT telling those info to their members, maybe it’s either they really don’t know the product or they just PUSH their members for them to make money. So goodluck for those currently WFG members.

  17. You had a pretty bad experience, that’s the danger of recruiting people who only care about their pockets, not the client. We call them money monsters… There are different teams that stand for what is right. I would suggest to shop around for a good team. WFG is a great company that screens people, doesn’t mean an occasional bad sheep doesn’t get in. Hard to survive in the company if you are lousy dishonest person though. I believe these are the ones that quit and then complain.
    WFG inspires people to do great things with their lives, and like anyone starting a business, of course they go to family and friends first… If you have not been with the company for at least 3 months, you shouldn’t be talking about it…

    • This is true. Like all other institutions, it depends on who you are working with. I’ve had clients that share about their WFG experience and it seems it really depends on the person you are faced with. WFG has a business format that allows its associates to do their act as a business owner – all the perks and disadvantages of an entrepreneur. After 6 mos of being in the business and being a conscious financial adviser, I can say that I now understand how WFG works. It’s NOT a scam.

      He who understands wins.

    • A lot of people don’t understand the concept then they call it a scam. I have friends in HR, and cars saleman recruiter business , they also have to go recruit people. They are scam too? Also, one of my friend in Sunlife, he has to make sales to make quota every month. As soon as his points drop little bit for the month, the manager push him to go out there to make sales already. No sales, no revenue. He is by himself. One man band. In any sales business model, the more sales the more revenue. The bigger your team, the more money you make………you have no team, you only can’t do so much. Just think of that as you want to be single no kids ( single agent) OR you want to get married – have kids to build your legacy ( build big team – recruit ) .Just that SIMPLE.

  18. Good light-hearted humor. While it is possible to make a ton of money in any MLM company (WFG, Amway, FHTM etc), WFG and Primerica are considerably riskier given that live savings is more than a few crappy bottles of shampoo and make-up.

    ALL the MLM companies are a good case study for research. I liked your post.

  19. This is perhaps the most inaccurate and slanderous review of any company ever. Hopefully, nobody would base serious financial or career decisions on a review from this blog alone. Especially, when the motto at the top states, “It does not matter who is right or wrong”. I do not want to waste too much of my time here but let me clear up a few facts.

    First, you are correct in stating that calling WFG a pyramid scheme is “unfair” because it is. For a clear definition of pyramid scheme please go to this link. http://www.fbi.gov/scams-safety/fraud .

    Second, I personally know at least 10 WFG agents in my office that have no recruits at all but make $200k per year in personal production of various financial products only when they are suitable and affordable for the client.

    Third, I clearly understand the bad reputation MLM or network marketing organizations get. Although I do not agree that WFG is a true MLM it does have similar elements. The fact is that I can recruit exactly 100k people into my “scheme” as you call it but if they do not actually open accounts with clients then I do not make any money. You do not get paid for “recruiting” you paid for TRAINING people. Which was the exact same way my Regional Supervisor got compensated at Edward Jones, and the same way upper level broker dealer managers get paid at every other broker-dealer that is licensed by FINRA, or any state insurance department. So why chose WFG? Because they are one of the few companies that does not put a cap on how many training managers they have. If you want to make big bucks $25-85k per month as a financial services company upper level manager then go out “into the field” on a daily basis to build, grow, teach, and develop your team.

    Most importantly, I have never met a World Financial Group rep who would advise you to take an interest only loan. Your “friend” was not follow concepts they learned at WFG. Our leaders such as Lijoy Thomas, Arlex Flores, Victor Salvador, Manh Le, and many more would have shown you how to make so much money that you can pay off your mortgage sooner and then pay cash for another house after you have protection>debt management>emergency fund>investments.

    I have wasted enough field training time on this blog. Hopefully you publish my comments so that others will hear the true concepts behind WFG.

  20. Oh, I also forgot to add that because WFG is open to any body that can pass a pretty stringent background test, you may get people who do not have their heart in the right place. The bottom line is that you have to be smart yourself and ask yourself “does this make sense”. Read a few actual books. Call state and federal regulators to ask about the individual you are doing business with. See if they have any complaints or judgements against them.

    The openness of our system also allows people that are great at what they do (albeit they may be terrible at spelling or grammar) to become the CEO of their own large empire while helping a large number of families along the way.

    • James Adams, your comments are also well put and well-taken! WFG is a great business and its financial strategies are truly valuable for families!!! Just my personal experience.

  21. I am sorry but in my typing rage I forget two more things. WFG DOES NOT OFFER ANY PROPRIETARY FINANCIAL PRODUCTS, so when you say they push their mutual funds, that is totally wrong. We represent 146 of the top financial companies including Fidelity Investments, Goldman Sachs, Pacific Life, Western Reserve Life, Nation Wide.

    Also, as far as the team building goes think about this. If you were broke and struggling and somebody took you under their wing to train you as a financial professional for very little money and a whole lot of time but in return you were able to generate six figure income in personal production, is it worth it?
    If you were able to train another person the same way do you think you should do it for free or get paid a little something?
    If you could build a solid agency by yourself and get paid to train others is it worth it?

  22. Ok, wow first of all “I Love World Financial Group.” Why, well let me tell you. I have a friend who is a partner is a successful New York Life office in the Midwest. When I got my license and told him what I was doing, he tried to recruit me. I went to his office just to visit. New York Life is an Insurance and Investment Company know nationwide. My reason for using New York Life (NYL) as an example is because it is one of World Financial Group’s (WFG) competitors.

    NYL is a traditional business model. In my friends career, he was a successful producer, then he went in to recruiting and training. In NYL model, you cannot be a producer and a recruiter/trainer. You have to do one first, then do the other. But you cannot do both at the same time. Also, to become a broker, you have to go out and litterally start your own office from scratch. At WFG, the first tier of it’s business model is quite simple. You can become a producer and develop your own book of business. the 2nd tier model is that you can recruit people “WHO ARE FIT FOR THE BUSINESS PREFERRABLY” and train them to do the same as you are doing (Becoming a financial professional). The 3rd tier of the business model is that you can develop brokers underneath you and still get paid bonus overrides from them. Let me tell you, YOU CAN BUILD A HUGE WFG FINANCIAL BUSINESS if you listen to what I am saying here. Unfortunately people come in (Who are not wired for business to begin with) and sign and die. Several reason cause this. I don’t have time to list them here. But the problem is that those who don’t have a desire to help people with their financial situation or build a successful business with lots of work ethic, should not even join. Why, the odds are you will sign and die, then your gonna blog negatively about the company when it was your own efforts who made you fail. Sorry for the reality.

    But on the other hand, if your desiring to help people, motivated to build a successful business, and desire the financial industry then plant your flag here in WFG. It is the best hybrid business model out there. Because you can simultaneously build the 3 tiers of business I was talking about and set yourself on a path to financial Independence.

    I have been with WFG for three years and learn from the best the industry has to offer. If your checking out WFG and what they are about. Please don’t read these blogs of people who aren’t successful with WFG. Contact the person who invited you to WFG and get back with them and get started. It will change your life if your serious. Check out the links below. I love this business…

    (links removed)

  23. So far I see a lot of comments from recruited individuals that have created wealth for themselves off of the backs of what I would call “victims”.

    Your typical investor in a product from WFG or Prime America is someone that lacks financial knowledge. They are typically recruited by networking. At parties, weddings, family gatherings, by word of mouth.
    Anyone showing glimmer of financial knowledge and asks questions is immediately asked… “Hey how would you like to make some money”? I have actually experienced this.
    Lets take an actual live example.
    Recruit recent immigrant at family party. Victim has very little financial knowledge, is trusting, and does not really understand the numbers scrawled in front of her. She has little money, there is no discussion of what type of funds and best diversification is best for her.

    She is advised to leverage 20 k in a loan arranged by same person at a high interest rate. All of the funds are put in one fund. (Asset builder III) a fund with a front load charge, a 2.27% MER, and DSC’s for 8 years starting at 5.75% and slowly decending year after year essentially locking you up in this dog of a fund for at least 5 years before you can make some kind of break from that unsuitable product.

    Any of you so called self proclaimed fund managers can stand up and with a clear conscience say this is the correct way to “help” a person save for their retirement really are lying to protect your income stream or blinded badly by your own BS. This type of investment model is based on greed not a partnership between investor and client. One person drives his BMW the other takes the bus in retirement. Can you guess which one takes the bus. Or do you need a hint.

  24. I’d like to start by saying I completely understand why people can be led to think WFG is some sort of “pyramid”. When I was first introduced to the company, I was skeptical myself because of previous companies that had tried to recruit me and I also did not like the idea of being in sales because of previous sales positions I did find success with. However, I started part time because it was my mom that had asked me to help her start a business within WFG. So I began attending training sessions twice a week, trying to figure out how to tell her it was a waste of time and complaining about waking up early on Saturdays. After I finally got my license, I realized there was no scam at all. What I found out is that the real scam was my full time JOB that was not providing me any clear paths to being promoted. There’s constant politics and management power trips and someone else dictating your schedule, income, and ultimately the future of your family should the company be sold or go under. This does not just apply to my previous employers, I’m sure many can agree this is typical for employees to deal with at a job.

    What people aren’t properly communicated up front is that WFG is not a JOB, this is a business opportunity. If you aren’t ambitious and a hard worker, then you are not likely to start your own business/ be successful at it. This means that the opportunity is not for everyone, but is open to those that can pass a background check and get licensed with their state for the products the choose to offer.

    Yes, we have plenty of recruiters in WFG. However, we do not get paid a cent off of the fees associated with an agent’s background check and license study material. We get paid for the training and development, and the time we spent coaching our new agents further down the road, when they are done training and become independent agents. The atmosphere when everyone is working in each other’s favor constantly is amazing! And beyond our constant training, WFG’s Mission is to help families achieve financial independence. Until you see the difference we actually make for the many families we’ve been able to help as a whole, you can’t see how funny it is to think this is some sort of scam.

    Now because we do not require experience prior to joining, those in training may take some time to learn the proper way to introduce the business or even the products, and they may get asked questions they can’t quite answer or are very vague, and this can cause people to assume this is a scam. I can attest that each person learns at a different pace and this company is great at working with you, but not everyone’s heart is in the right place (not just in WFG) and some people are only in it for the money. So if the person training you tries to force products that don’t make sense for you financially, I would try a different leader. You can find a different atmosphere or culture in different offices, depending on the leadership.

    I’ve been in the business about a year now and have learned so much not just about finance but about people and their needs. Before I started in this company I thought I was happy where I was, but truly I was just comfortable and had no clear direction for my future, nor was I saving for it! I’m so grateful that my mom dragged me down to hear a presentation and set me on this path. I was raised in the middle class and now have an actual way out, a way to provide for my family, and help mentor others to do the same.

    I do feel bad for those that had bad experiences with WFG. In the future when someone invites you to an open house/ presentation, please remember this is a REAL business opportunity, not some 9-5. Please be open minded and willing to change. Success is normally found outside of your comfort zone.

  25. Re : AB

    You just wrote 40 lines of one of the longest no fact based non answer again.(more like a “testimonial”) Do you actually write these or have a PR team that just cut’s and pastes nonsense like that for WFG?

    Again a recruiter proclaiming how well off they are because they take advantage of the people who are just trying to invest that don’t realize they are in a product not suitable for them.

    “Mission to help families” ? WTF ? WFG… Go to a real school, get a valid financial education, then maybe you too can realize how wrong you are.

    • You say “go to school, get a valid education”. Well, my story is I have gone to school (government certifying college) where I was presented with indoctrination on business, have worked for others, and have owned my own businesses. My parents were factory workers and at times I grew up on welfare due to a parent’s illness. My first jobs (some paid, some not) included working as a server in a chain restaurant, then as a bookkeeper, salesperson (non-commision), commission salesperson, then business owner, mother, volunteer, social activist, artist, and a few other things. As you can infer, I am not a youngster just starting a career and I consider myself well-read and thoughtful. My peers and neighbours also consider me well-read and thoughtful because they often ask me for advice or information that I am always willing to share.

      Because of my many experiences in earning money and careful study of economies and history, I have recently decided to join WFG. My eyes are wide open and I fully understand how this company works. You may not agree with my decision, but that’s okay with me. You sound like you are over 18 and as an adult you are free to make decisions for yourself, as I am.

      I joined WGF because I like that they are a company that offers choices and my income will be tied directly to my own efforts. I will not have to wait until someone else decides I will get paid more or have my daily activities monitored or dictated to me. I fully understand my role with WFG is as a marketer/salesperson and in that respect is no different than if I worked any advertising company like Facebook or Amazon, I do not make the products, I just present them to people who have the freedom to choose, because they are adults, what products they want. I force no one to buy or join, I present them with information, and I respect their right to free will.

      You say people are being “taken advantage of” but don’t provide any evidence of that statement. Please provide some third-party documented evidence of anyone who was coerced into buying products or joining because they were legally incompetent, either by education or illness or any other reason. I have not yet found any.

      There are many products for sale that I personally find to be most useless and money wasting, but many people value. Diamonds are one, they are hugely marketed as being rare (they are not) and as being an “investment” (go to any pawnshop to purchase rings at half or less than their price at a jewelry shop). Food at most chain restaurants are devoid of good nutrition as are most of the processed food in grocery stores. The difference in quality between clothing items are very small nowadays yet prices can vary incredibly. Yet many people still purchase them and believe in their choices are the best.

      Our economic society is currently based heavily on advertising, celebrity, and marketing. Just look around your everyday life and notice how many businesses are trying to get your attention through all kinds of means. The new business mantra is all about how many eyeballs they can get looking at their product, like Miley Cyrus’s new album.

      It’s because of all the electronica that I have decided to take that more personal approach to creating an income for myself by joining WFG and to presenting families with financial options and products. You believe the companies WFG is affiliated with do not have the right products for you and you have the freedom to not choose them. That’s fair. But many people have made the choice to purchase products or invest with WFG affiliated companies and are very satisfied with their decision or WFG would have folded by now.

      In my experience, there are many ways to create financial stability. I started out having mutual funds but graduated to investing on my own. Most people would not want to spend 3-4 hours a day for many years studying finance (like I did) on top of their day job in order to create stable wealth for themselves. They would rather pay someone else to do that for them. I decided differently for myself but know that the option of mutual funds is better than nothing for those who choose to not spend the time to learn about finance. Mutual funds were worthwhile for me in the beginning and worked out very well as my knowledge grew and I had the confidence to manage my wealth on my own.

      A lot of the comments I have read remind me of the Aesop’s fable of the fox and the grapes. Basically, the fox couldn’t reach the grapes to eat them so he decided that the grapes must be sour. It’s unfortunate that so many people adopt that attitude instead of just accepting without malice that a product or opportunity is just not suitable for them right now.

      As for all the rah-rah that some have commented on, it is part of the positive company culture that WFG is establishing for themselves. This again is the same as any sports team or business like Google, Apple, Microsoft, etc. that intends to be around for the long term and wants to grow. I like being around positive people, it beats the alternative handsdown!

      Paul, for me to believe you, I will need some evidence that will completely negate my lifelong education and experience and the conclusions I have come to in joining WFG. I am totally willing to be open-minded to learning because that is what got me into the top ten percent income bracket in the first place.

      • Hi Barb,

        Thank you for posting that long note.

        Did you also take the time to read through each posters comments? You have sent a comment attached to one of mine from March. First I would ask : do you understand what the word “Fiduciary” means. Putting your client’s interests first.

        Just because a person is over 18 as you write, it does mean anyone can put a target on their back and ride them into the sunset slowly draining them out of their hard earned money. Please read comment 44 from Susan for example. This is very similar to what happened to a close friend of mine. When I questioned the basis of the investments – they tried to recruit me instead of answering the questions! It is not fair for you or anyone to prey on another’s ignorance of how financial products work. Some people don’t understand numbers as others do particularly when the numbers a disguised in increments like 2 or 3 %. Wow… what’s 3%?… 3% is the difference between a person retiring with $750,000.00 over a lifetime of investing vs. $450,000.00 with the same money invested in two equal products, one with a lower fee. (Guess where the missing $300,000.00 goes?) Give me a break!

        I don’t have to prove anything to you. Sorry it’s just the reverse. I have asked in several different posts on this site for you to give an example fund you offer clients and explain ALL the fee’s. Here we are a year later and all we see is mostly nonsense, threats, and a recruiter like you boasting how you are a “10 %’er” ??? Your good fortune is on the backs of trusting people that don’t understand finances and for various reasons can’t do so. I don’t say don’t make any money, but do it fairly and be compassionate as well.

  26. RE: PAUL


  27. Hi Ed

    Wow another non answer… What else would we expect?

    I love your last line in your reply. It speaks volumes without me having to explain why.

  28. For a minute I thought I was reading about a religious cult…. Indoctrination is the word of the day…

  29. “Lacking education”? Thank you , after 53 comments I needed a good laugh. Bottom line i don’t have money to invest, my father suffers from diabetes I often find myself asking what can I do to help?… Obviously 9-5 won’t cut it ,so is WFG a good company to invest ? I’m willing to sit thru training and meeting, and put my heart in it… Is WFG the right choice?

  30. I used to work for WFG. I’ll be as clear and concise as possible.

    If you are already grounded in finances or stock, & have a considerable list of connections (people willing to work with you and people who are looking to purchase life insurance) then WFG would be wonderful for you. You really COULD make money, and a lot of it.
    Because WFG’s pose is that you are owning your own business, I didn’t have argument to the $100 fee in the beginning. If you’re doing business with someone, put your own in. It technically is an investment, so no problem. No matter what you do or who you may work for in life, some things involved with the company you are just going to have to pay for: WFG is no worse. You pay for events, lunches, etc, all of which are optional (but are very highly pushed to keep company loyalty and oo-rah high, say for your wide-eyed new recruits looking to learn.)
    WFG DOES require some education and licensing, but it’s like this: To start, you have to earn a Life Agent’s license through the state, and for those of you who know, that’s the absolute bottom rung of the pole vault. You can do fine on that alone. As you progress in the company however and want to sell different products, you will have to earn various licenses to do so. All licensing by the way is via the state, not the company, so this is not of profit to them. For the more juvenile argument, I don’t have an issue “paying so much money,” because if I see the need to become a licensed professional at something and be taken seriously, I’m going to do it… Not that I’m calling WFG associates “licensed professionals.” Anyhow, you’d do the same with any other work/career, so set that aside.
    “You get paid what you’re worth in this company.” This is true, but to an extent. It’s more like, “You get paid for what you’re willing to sacrifice for this company.”
    WFG teaches about various asset vehicles (GIULS, etc) & their connection to the financial follies of the now-retiring “Baby Boomer” generation, as well as the current negative fluctuation of the economy. These things I find (mostly) true and can be used to your advantage if you don’t run away as a potential customer at all the scary terminology. Those factors set aside, it could still be beneficial.
    Concluding the positives, WFG is really a legitimate opportunity for a *select group of people.* My biggest issue with the company is their means of operation in a variety of faucets, which leads me to the…

    As I said, WFG is great but only for a select group of people. As some have explained before me here, more than half of the company’s “associates” are only with them for about a year until they finally leave and their “personal investment” to the company has not gotten them much except mental exhaustion, confusion, and guilt. Without wanting to sound like one easily scared, the company really is mostly fueled off of “HOO-RAH!” Clapping, awards, praise, events. This is presented to you as a positive: “Did you ever get recognition at your job for the things you did? You do here!” All the figureheads of the company emphasize the need for competition, and they’ll do this by touting your emotional threads- becoming a “legacy” in your family, being a strong, independent woman, being that go-getter dad that financially humps his way into dominance among the rest of the group… And slowly they paint a picture for you of what “Success” is, and that you need to chase after it or your life is a miserable, dissolute failure. They’ll appeal to all people: black sheep who want to prove their past wrong, single mothers, or they’ll dangle the future of your children/parents/grandparents in your face. “Don’t you want the best for them? Don’t you??” This is to no exaggeration or hyper-focused bias on my part. The company depends on guilt very heavily, and they openly admit it.
    From the audio they make you listen to, to the written instructions, the meetings, and anything else, the basis for a majority of it is vindictive psychology. You are taught to use this when talking to friends, family, searching for prospects, and even talking to your coworkers. From the beginning interview those emotional threads are pulled HARD after having spilled your deepest desires to your prospector, and they will be used against you any time you doubt the company. You are also instructed to do this as your main means of operation. Quips and comebacks, conversational string pulling. “It doesn’t matter what you say, just that you give them an answer. Return to establishing a time to meet. They won’t even think about it.” That is taken right from the audio instructions. At the biweekly meetings, the head of (my) office would say, “Just keep talking big. People will have no choice but to go for it. You gotta look and sound the part. Get them there and ‘let the chips fall where they may.’”
    So with eager/desperate new associates continually circulating through the company, their heads freshly filled with all their life’s ambitions and desires, it’s THESE PEOPLE that make up most of the company at all times. Their friends and family are called, and are given the bait that “John needs help. We need to sit down with John since he’s new to us. You’ll help John, won’t you?” They filter these people through the same process (the instruction manual uses the words “filter” and “process” frequently.) Each new associate pays/invests $100 to join, & must also purchase insurance that is direct to their company. Hold onto that.
    “It’s all about numbers” is a common mantra and function in the company. Their given is that ultimately 1 out of every 10 people you send through the “pre-interview,” the “mo-zone,” and the “final interview” will join. Even less of them will continue working with the company. Think of the money the company is receiving in the meantime- the initial $100, and the monthly payments. So you can see where the emphasis of “new prospects” and “building your team” comes from- not to keep them, but to cash in on the firstfruits.
    Unless you are of the select group I mentioned earlier having great connections already, you make a hefty list of family and friends. “Anybody, it doesn’t matter. Even if you barely know them.” To get you through the embarrassment, you’re taught by the figureheads that all your best friends will be met through WFG. Anybody who doesn’t join WFG “just doesn’t know better,” and are approached as something like the damned. It’s critical to hang out with WFG people. Stay away from people who don’t like WFG. If they’re not with WFG, don’t talk to them. Your life is WFG. You need to stay motivated, right? Cut off your friends and family. They’re your enemy, now. (This btw is not exaggerated colorful humor or bitterness. THIS IS WHAT THE COMPANY TEACHES.)
    So now you have to start “building your business.” As you can see, this would be easy for the established. But for the average Joe or Jane if your family and friends haven’t bit the hook, you resort to prospecting- getting numbers or email addresses from complete and total strangers. You need to “hone your skill” in small talk. “Nice shoes,” “Thanks, they were cheap,” “We all need to save money,” “Yes, especially after my son’s surgery,” “Oh really?” “We’re having trouble with the bills.” BINGO, we’ve got a live one. Then you bring them around to a “business opportunity,” and get a contact… You have to do this at least ten times a day to get any bread on your plate. This is what you are taught you need to do all the time… So think about that.
    Over time you build a team. Your overheads make money on how well you do (reasonably,) and the same goes for the people you are over. At this time, you are taught to drill all the same things into your team that were drilled into you. You must get them to events, give continual pep talks, remind them of all their aspirations in life. “Selling the Dream,” as WFG calls it. “We aren’t a money business- we’re a people business.” In the beginning it is suggested that WFG can be a vehicle to “get you to your dreams,” even if you don’t continue working with the company. But later on: “See the success you’re having? Why don’t you just stay with the company? It has everything you need. You’re helping people and are making more than that career you initially wanted would be making. It’s more beneficial to stay with us.”
    After however long it takes you- a few months to a few years- you realize that this isn’t really the saving-the-world company that it claimed to be. You realize you’re not cut out for this. It’s not that you’re not trying, or that you’re lazy. You’ve actually made WFG your life by now, but the mechanical odds the company spiels to you aren’t working out, so you feel like a failure. They maintain the guilt and commitment to the company with, “If you do it right, you won’t fail,” “You get paid what you’re worth,” and the like. Within that though is the flaw that not all people are the same- this is the wobbling cog in WFG employees reasoning, yet an advantage the company has. It won’t work out for everyone and they know this, so it doesn’t hurt to take your money in the meantime.
    When you finally make the decision to leave the company, the people who convinced you and themselves that they were your friends ostracize you. You left. You’re the enemy, now. You’ve given up, you’re weak, you’ll NEVER fulfill all your hopes and dreams. You don’t see the dream. You’re ignorant. Fill in the blank.
    So you are now left a rusted and broken company tool. These people who struggle make up most of the company… In other words, the base of, oh, let’s say, a pyramid. I did not want to throw out the term “Pyramid Scheme” in the beginning because it makes people defensive, or it looks like you’re crying WOLF! But that’s the truth of the matter. Joe or Jane makes the base for the pyramid… And who makes the most money at the top? People who were cut out for it… And convinced you that you were, too. Once more, this is for that “select group of people” I mentioned. The common theme in nearly all of WFG’s business is taking advantage of the average person.
    Ultimately, over guise titles like “Financial Advisers”, WFG associates are sales people. They are there to SELL you something, whether that be insurance, or something more profitable… the dream of success. WFG is a very wicked double-edged sword.
    “Enter At Your Own Risk.”

    • Very helpful, Thanks.

    • definitely a very helpful comment, best one/seems to be the most neutral one I’ve read on here

    • very good informations thanks for your honesty.

    • Very good comment. I am with WFG for 3 year, treat it like a business and it is working really well for me. Even tho I disagree with part of your comment I have to agree that your point of view is the best I’ve read in here.

    • This is by far the best comment I’ve read anywhere regarding WFG. It puts into words everything I’ve ever wanted to say about the company. The bottom line is that vulnerable people get taken for a ride, and that’s what rubs me the wrong way. I have too many friends that fall into the “firstfruit” category, getting suckered in by their very own “friend”. I’m saving this comment so I can show any one that gets roped into one of these recruiting events.

    • Dear Honestly and others,
      I am sorry you went through that, as well very sorry for anyone else that did. I was invited to a presentation and told by a recruiter that said he overheard me talking about social work and his company was looking for people like me to help older people and there families with their finances. Just based on the presentation I know what you mean about the vindictive psychology. Because as well as having a social work degree I am also a student of political science I know that the finance world, banks, investment companies etc are highly exploitative in more ways than one. During the Great Depression of the 1930′s – there were similiar financial crisis. There were thousands of strikes. In 1937 Union Leaders went to talk to president Franklin Delano Roosevelt about workers concerns. FDR said “Okay, I hear you, now make me do it.” FDR knew there had to be strikes to the help create the political will to change things. What came out of the Great Depression was reform – social security, medicare, the GI Bill, education and unions. What we are virtually all experiencing is another time in history it could go that way – or to revolution. There have already been revolutions in the middle east as well as strikes and demonstrations. Capital is virtually fully global now so the crisis is global.

  31. Thank you for the information I wish I would have read this before I went in. I went because a friend told me they were going to help her with her financials. I mentioned I wanted to find some financial advice.even though I especially said I wouldn’t want to sell anything or refer any one unless I could see what they can do for me they persisted and now they have my credit card info my social insurance number and my license number. They told me that I could take the class and if I like it I could continue and become an associate. They charged my credit card and will not refund the money. I need the postal code in order to complain to the BBB and I had to call Canada Post to find out the address is not in the system. They said they would help me not to use credit cards any more and they charged my credit card??? They move so fast as they give you the info that it was not until I walked out of the office that I realised that they had my personal info. I told them I did not want to go to the first class to please not charge my credit card but I was told it was to late. I went to the class but all it was a bunch of people telling how much money they make and how they quite their jobs because they are doing so well at least WFG. They would not let me find info about them. If you or your friends are invited by these place please don’t go. You may think you ate strong but believe these people can get to you so fast. They took advantage of the fact that I am currently with out a job.

  32. “Anyhoo, the company is basically a pyramid scheme masquerading as a financial services company. That blanket statement is a little unfair, but is basically true.”

    I already stopped reading after the first paragraph.

    Already there is a flaw in your logic.
    First off, a “Pyramid Scheme” is by definition fraudulent and illegal – http://dictionary.reference.com/browse/pyramid+scheme

    If that were the case, WFG would be shut down by now, yet they’ve been in business and still remains so. Whatever your belief or opinion is on the company, calling it what it isn’t is slander/libel. Due your diligent research on the company and really know what you’re talking about before you post an article.

    Ladies and gentlemen, don’t believe everything you read, especially on the internet!

    • Hey Ryan,

      I would put your comment at the front of the line of ones to ignore. Every post from a WFG supporter is not supported by any facts. It’s clearly window dressing (or threats) to hide a business which only is a benefit to a small select group and detrimental to a much larger group. If you are a go getter “type A” person who has no regard for others best interests, you will do well, otherwise you will show a negative return and experience from your investment.

      I applaud the two people above you who clearly have posted based on their experience and are trying to warn others from making the same mistakes. You have no sympathy or regret for that at all. Very classy!

  33. So i was just hired to this job a few days ago in canada, and they took my 125 start up fee for the “Training” and after reading all of this, i dont care if they took my money, i am not going to that job anymore.. i mean i dont believe in all of this and i was only doing it for the money, but if i have to screw over my friends and family (from what they sound like they want you to do) i will not be associating with them. the only problem i have is they have all of my personal information

    • Before you make that decision why you don’t go deeper to see what they have to offer? At this point you have nothing to lose and you can have your true opinion from inside out instead of been influenced by a simple online blog where people put wherever they want.

  34. Kris
    Like I commented earlier a lot of BS and no facts. Spell out how you help people. Explain exactly what it is WFG does and lay out some numbers here.

    You can’t… but you all can certainly writt flashy meaningless replies here. Your so transparent. Like glass.

  35. Hi kris
    Thanks first time someone sent something of value to attempt to support the wfg case.

    So you seem to be reasonable. Please take us through a scenario. You meet a new prospective client. You discuss their needs. You decide to put them in some of your Tempelton funds.
    1) will you attempt to put an unsuitable client in a leveraged loan to “catch up” on investing?

    2) what are your fees ? Do you have a front load charge? A DSC rear load charge? How many years will a client have to invest before the DSC’s come down to $0.00. Ill guess 7 right now before you even reply.

    3) what are your MER’s? Again I will guess none of your funds will be below 2.25%.

    All of these above would make your product unsuitable for anyone because there are many others out there which are a more intelligent choice then any product that lands in the 3 listed above parameters.

    Convince me please- make me a client you have your chance now. How will you make me retire rich and save me fees?

    • Honestly I have not dealt with any Templeton funds yet because since I’ve been in the business the best products we have with annuities are through ING and the best savings/retirement/life insurance products are through Western Reserve Life, although each Preston’s financial situation is different, these are the best products we deal with right now from all of our A rated companies so we would obviously suggest these to our clients before anything else.

      Obviously if one is older, they will have to “invest” more or save more money in their policy in order to “catch up” to their comfortable retirement fund that they would like to have. The policies we use are based on the S&P 500 but are not actually in the market and are not affected by the markets loss and volatility, therefore we have ZERO risk of loss on our investment because of our strategy of indexing.

      The last 20 years the S&P 500 has averaged a rate of return of 9.1%. These policies are also tax deferred, tax free, because it is after tax money you are putting into it, penalty free, and like i said not tied to the market’s volatility.

      Hopefully i explained it understandably.

      Best regards,

      • Hello again,

        Once again I appreciate your answer but unfortunately you have not explained my questions about your fee structure. I saw the various companies that have some kind of affiliation with your wfg. You wrote a few lines above that really don’t have a lot of information contained in them.

        You also touch on annuities. Again a product full of high fees, penalties and sometimes poorly structured for the buyer (customer) of them but a product which is known to make the most money for the “financial salesperson” (you). They are full of terms and conditions that are not beneficial to the policyholder. I could cite you a number of fact based analysis on annuities being a bad deal for most people when all their math, fees and penalties are disclosed.

        Can you not see my logic at all here. You and your colleagues are not supposed to make a $100K a year on the backs of your investors while they do a slow bleed. You need to make a fair amount of money but you have to protect your clients as well and put them in good products that looks out for their interests first – not yours. Do you not understand how that is wrong? I’m almost convinced you don’t have ability to even know the difference between what is right and wrong here. So far you have still not added any facts to your statements, you need to try harder. I’m taking the time to discuss this with you. I get nothing for this – so talk to your co-workers and write something with some merit please.

  36. Sorry Nelson I don’t mean to hijack your post but I’m having way too much fun here. I’m stunned by the responses.

    Renee: what are you trying to say here? I’m looking for a point?

    • Dear Paul,
      The point I was trying to make is that whether your talking about WFG or any other companies, historically companies try to make money of the backs of working class people, just like during the days of monarchy the aristocrats made money of serfs. I was also trying to make the point that historically this can change, and that type of change is not necessarily a bad thing. There’s nothing wrong with not wanting to profit of others misery and wanting to live in a more equal, not to mention, dignified society. When I went to WFG’s presentation I could very well see the type of predatory techniques they use and the vindictive psychology that “Honesty” talked about. In about the last twenty years psychologists and other researchers have been trying to pin down the kinds of things that lead to happiness and have found that “Success” is not about having more than the Jones. If you require a more credible source you could check out a text called Flow, the psychology of optimal experience or you could use academic search engines and look up peer reviewed and scholarly journals on happiness research.

  37. Hey all,

    WFG is legit. The person who started the post has no idea what he’s talking about! He doesn’t even understand why the wealthy take advantage of HELOCs. The rich use HELOCs and investment loans all the time to get rich, it’s an outstanding strategy if done correctly. The problem is advisers that don’t know what they’re talking about give a bad name to good products and a good company! WFG is a franchise. Like any business you need to hire people into your financial firm. That’s how any corporation or business works. Unlike your traditional corporations, WFG allows you to grow with the company. For instance, if you worked at Starbucks and you were a barista the likely hood of you becoming the CEO is 0%. WFG allows you to become a CEO although you start off from nothing! The only people that have something bad to say about this company is the people who don’t even give it a try or don’t understand it and they don’t even get licensed!
    A pyramid scheme makes money through a recruitment fee and constant recruitment. So you’ll have to pay a monthly fee in addition to the initiation fee. WFG IS NOT LIKE THAT! WFG is a network-marketing/multi-level marketing company. Even if you recruit 10 people, you make $0!!! You have to work hard as a Financial adviser and help families to make money! You have to teach your firm to do the same, other whys you won’t make money and they won’t make money! PLEASE BEFORE POSTING FALSE INFORMATION ABOUT ANY COMPANY, DO PROPER RESEARCH.

    WFG is an amazing opportunity. Here’s how it works. You purchase your franchise as you would a Mcdonalds. You have to recruit/hire people into your firm as you would in your Mcdonalds. You have to advertise your products and be competent as a financial adviser as you would with a Mcdonalds, you would advertise your products and produce good food. The only difference is WFG doesn’t cost you $850,000 to purchase. It’s an incredible opportunity. Network-marketing companies in general are awesome opportunities. The problem is that lazy people don’t do anything and then have something bad to say. The fact is, business is business, most of them fail in the beginning. It’s tough, it’s not easy, but the only problem is you! Stop spreading lies about the company. Clearly the one who posted this thread had no idea about anything. What you said about the HELOC was so stupid! You wouldn’t invest it in stocks, that’s number one! That’s too risky! Stocks are even risky for people who are experienced in stocks! I have used the HELOC personally and so have my clients who are investors and have made lots of money as a result; because we knew what we were doing! Competent financial advisers have knowledge of the different products out there, they know what’s safe and what isn’t! The Leveraging loans is risky, you shouldn’t do it unless you have the money to pay the interest on the loan (buy the money) and have the proper investment knowledge to calculate your risks (rate of return of a time period, inflation, taxes although you get a tax-rebate since the interest is a capital loss).

    Please please please stop spreading lies and mis-informing people of this great opportunity. This company has helped so many people out there by making their hard-work amount to something. How many companies do that? Most companies you work your behind off 9-5, 40hrs a week, and you don’t even get a raise. They want you to stay were you are, stuck their forever. WFG pulls you up with your hardwork and teaches you to help other people become financially independent as well!

    • What Lies? Other then your double speak.

      Take all us unenlightened people through an example family that you supposedly make money for that you mention in your post above. So far none of you can, or will do that.
      It’s obvious, you all talk around any facts because your system is based primarily on BS, not facts. Your recruiters are like wolves, 99% of the “recruited” are sheep. In the game of making money someone has to lose for another to gain.

      • Paul,

        Like the saying goes “its better for people to think you are dumb then to talk and remove all doubt.” WFG is legit and an approved FTC MLM. Currently mutiple respectful people such as Michael Jordan, Hulk Hogan, Christopher Gardner, Condeezza Rice, Dr. Oz and many more actually supports it. Secondly since WFG deals with financial services obviously they are regulated by the SEC, FINRA, and and the Insurance Commissioner of the state. Thirdly WFG has 150 companies such as ING, Transamerica, Prudential, Nationwide and many more. Lastly if you saw the actual business structure of WFG the uplines dont get paid immedately when their downlines signup only when solutions are being transfered by the choice of the Client. A WFG members knows they have to make the Clients solution better then the last because its illegal if its worse its called twisting. Honestly I dont see nothing at all wrong with people helping people ensuring they get a more lucrative retirement by switching from a tax deffered account to a tax now account like Roth unless you dont mind giving uncle sam a piece of your gains lol. Or ensuring they have a healthcare plan and life insurance which of course is mandatory by 2014 for all americans working as of PPAC Act. To be honest with you its a sad society where people dont care about making good plans for their future and when their future becomes present they might not afford to not work, not get proper healthcare, and die leaving their families and possible financial burden. Think about that.

      • I agree with you. This kind of scheme was started by ‘Emway’ in India around 10-15 years back. They company made a lot of money by recuriting people to recruit more people (only for a membership fee) on the sidway company was selling its products. I have no complaint about the products of the company but the way it cheated the people by recruiting them and charging from them a fee to sell their products. In other words people were doing a job by paying to the company. This is very smart way designed by owners of the company to earn money. A very few people get their money back (paid as membership to the company). EMWAY is also a successful company but the people who were working for the company, and did not want to listen anything about the company (brainwashed) are getting nothing from the company. Once they established the company business, the company ditched them and now selling its product only. Please open your eye friend , if you are not getting anything from the company (most of you). I am sure the TOP level will not like it but its true.

  38. No this guy is right I dumped a girl who became caught up in it…I had the unpleasure of seeing their brainwashing show and I have my master’s in communications as saw all the tactics first hand. Bleach! May as well being selling land in Florida or Detroit.

  39. Condeezza rice, really now.
    then for sure everything you say must be true.
    You wfg people write the best comedy. This stuff is classic.

  40. Hi everyone,

    We all have our experiences, differences, pros and cons about WFG. Here is a couple of questions I have FOR EVERYONE. I would like your feed back. (Be nice)
    Yes they offer insurance, investments, mutual funds, and annuities.
    Is it so bad to pay for insurance to protect your family just in case something unexpected happens?
    Is it so bad that insurance can accumulate cash value? Money you can take out just in case?
    Is it bad to invest? Is it bad to put money where it can grow for retirement or a college fund?
    If putting money into an investment and making it grow is so bad, why have it at all? Why did they start it in the early 1900s?

    If you think it’s so bad, illegal, or a scam, then please don’t get involved. You have the power to say no or I’m not interested. And just let it be.

    Yes, I am an associate with WFG. I offered a life insurance contract to my good friend. She had the choice to say no. I was not forcing her in anyway to start one. I told her its up to her, and that it’s her money, not mine. She decided she knew she needed it. I will be honest and say I showed her the opportunity with WFG, she declined and I was ok with it. This business is not for everyone.
    2 years later, my friend was killed in a car accident, by a drunk driver. You can’t even beginning how I, her family and friends felt. We are still devastated today. With that insurance contract she had $500,000 death benefit and a few thousand on cash accumulation that is attached. The only beneficiary was her single mother. This money went straight to her mom. Which paid off the arrangements for the funeral, her mom’s mortgage, all other debts her mom had, a new car her mom needed, and had saved extra money for her mom’s retirement.

    If getting insurance is so bad we should just rid of it completely. Car, mortgage, life, and health ALL OF IT! I guess if we do we are all SOL aren’t we?

    Yes, I did the $100 application fee, payments to take the test and get appointed, paid for events that the company was having, and paid business expenses. But anything to do with your business is a tax write off. Yes, it includes gas too. Yes, I do get paid by WFG when we complete a contract of investments, life insurance, ROTH IRA’s, annuities and etc. Which is more than what I spent with the company.

    I’ve heard it over and over again that this is a pyramid scheme. Pyramid schemes are illegal. WFG is state and federal regulated. Yes, the government knows about us. WFG has been around for years and years, wouldn’t you think the government would shut WFG down by now?

    If you think WFG is so bad or a scam or a pyramid scheme, I say don’t get involved.
    I know people out there have been screwed over by a lot of insurance and investment companies. And people have become skeptic and careful. I say, be skeptic and careful! All we ask is just learn what we do because we are different. Then you can make your decision. It’s your life and future. You have the power to say yes or no.

    • Hi Michelle,

      A few questions, are you making money with the company? Were you able to fire your boss and do this full time without the financial burden? How many families have you helped? Did you sell to your family and friends? How many of them signed up as associates or used WFG services? I am a potential client/associate and I also believe if WFG services are able to help my family out, I would want to share it with those that I love and care for. Please advise?


  41. Yes thankfully people do have the power to say no. You also have to understand that there are so many better products out there then the one you described in the above senario for a lot less cost. You bring up one story subtly trying to scare people with your sad story.
    Answer one of the questions I posed in earlier comments. Again you all won’t because you don’t have answers for them. Only hypothetical stories.

  42. Okay, I am a noob associate of WFG. Yeah, I paid the $125 start-up fee. Why did I join WFG anyway? Well, the selling pitch of my
    friend was, since it was a business, I can write off some of my expenses later as “business expenses” on my tax return come April. Im here in Canada. So that is my main reason for joining WFG. Just for the tax write-off. But will it be worth it? LOL. It’s true though, they got my SIN and creditcard info. lol, a litte bit scary that, imho. LOL, so i exposed myself for $125. ohhhh shiiiiiiit! So I guess I have to get another trip to the local library and read again some books about Canadian Income Taxation.

    So after joining, I got this load of e-mail from WFG and all those next requirements, the training, plus the pitch to recruit new members. At that time, I’m already convinced, OMG, screw it, I’m not cut for this sh*t. And to quote a famous movie line, “I did not sign up for this” LOL. Its like buying a stuff (a $50 jean maybe or $99 dollar electronic device that doesn’t work and you cant return it because you opened the packaging whatever) and later you realized its useless or its overpriced but whatever I paid for it. So just deal with it. WFG will work if you will make it work.

    I did not join WFG because of some promises of money being made and all that stuff. Besides I don’t see any way I can muster the strength to recruit 3 people/month or sell financial stuffs. I’ll just stick with my day job, thank you. I have been in some form and shapes of MLM and I failed miserably. After joining WFG, do I plan to recruit my friends and relatives to get life insurance, mutual funds, RRSP, etc??? Maybe… maybe 1 per cent. But then, before I can sell this things, I do need to pay some training to get licensed and all that stuff, so WTF, I don’t need to. I’m not planning to get deeper in the puzzle of WFG. (What I really want to have is tons of money and just buy stocks of TDBANK, Scotiabank, CIBC, Vancity shares, etc then Im set-for-life, but dont bother arguing with me, I know this thinking is flawed since basically Im really saying is I just wanna won the lottery. LOL) Besides they (my friends) already have those for sure, why bother sell them. I would rather research some jokes and tell it to them, and when they laughed, then I’m happy I’m helping them in my own little way.

    Me: What do cats like to put in their milk?
    WFG: What?
    Me: Micecubes!

    *joke taken from a youtube video of Starcraft2 casters Artosis and Tasteless

  43. I work at World Financial Group (WFG). I’ve worked at WFG for 10 months now, full-time. It’s an amazing business. I’ve already made around $10,000 in the business. Every year my income is going to grow because we have an amazing training program that teaches associates exactly how to grow their income. Once I have kids, I plan to do what many women at our company do and take time off work. But the paychecks will still keep coming. The best way to do business at WFG is to build an agency. Then you help more people with their finances, you give an amazing career opportunity to more people, and you grow rich while not having to work. One out of every 79 full-time workers at WFG earns over a million dollars per year.

    • Dear Rasa,

      Before posting yourself, did you actually read any of the other comments?

      Where will you get the “continuing paychecks” from? Where does that money come from? Ummmm… ummm… I can answer that. From the high fees and costly trailing commissions you charge the unsuspecting people you sell the products too. You are missing the whole point of this now 2 year old post. It’s not about you; it’s what’s best for the greater majority of clients purchasing the products.

      Do we live in a culture where we try to rip one another off, and the one with the most money they rip off from others wins? I guess we do. It seems we also try to glorify that now too.

      • Paul N,

        I just joined WFG a last week , and while I cannot yet provide any concrete examples or numbers that you have already asked for many times, I hope that I have joined the right team. The reason I decided to sign up is because I strongly believe in their mission (which has yet to be mentioned) of educating middle class families so that they are able to make the proper decisions for themselves when it comes to their financial future. I think the reason why so many people have had bad experiences with investment and insurance companies is because they had no real knowledge of what they were really purchasing. The way I see it is that the sales that we make are just the byproduct of that education that we offer. ‘Sell to the people who want to buy, and recruit the people who want to be recruited’.

        What I appreciate about WFG is that they didn’t tell me anything about what kind of compensation to expect until AFTER I had signed up. They had sold me on their mission and business model instead of selling me on promises of great wealth. I believe it is when people join due to the promise of wealth when you get those ‘bad seeds’ who are only in it for themselves and don’t mind taking advantage of other people. And yes, I do see this as one of their flaws. I believe they should have a better process of screening people who want to join the company because, from what i’ve seen so far, it is those people who give WFG a bad reputation. And because WFG is based on people building people by duplication, they can become a sort of cancer eating at the body from within.

        As a matter of fact, after they had sold me on their business, I told my friend (who introduced me to WFG) that I couldn’t afford the $125 registration fee, and she was willing to pay for it herself because she also believes our mission and the difference we can make in people’s lives.

        I guess, to answer your question…Are we in the business of ripping people off? No. At least that is for sure not why I signed up. After we educate families and individuals on the basics of financial literacy and the building blocks of a strong foundation it is ultimately up to them to decide which product is right for them. We have no quotas to fill so there is no need for us to push a certain product that may not be suitable for the situation. This is what I have come to learn about WFG so far, and I can only hope to see through my field training that we practice what we preach.

        Oh and WFG itself does not impose any fees to our customers. Our commissions come purely from the companies in which we are opening accounts. The cost to them would be the same as if going directly to which ever financial institution.

        • Hi Vince,

          Thank you for sending me a friendly reply.

          I would like to hear back from you in 3 months and hear how you experience has been at that time.

          A second point would be for you to research the fee’s (your last paragraph) on your own. (prove to yourself how the fee’s are charged and how you receive your commission. A little math and you can see how much the fund provider gets, WFG gets, and what YOU get for your efforts) Google is a great tool for that. Look up terms like “DSC’s”, or “SC” funds for example and what that actually means. Find out how much the funds you try to sell your clients charge in fees. I’m going to take a guess around 2.5% + of AUM. (assets under management) This % seems tiny, but it is not over time. It’s $500 on your first $20,000.00 as compared to a low cost balanced fund of under $200.00 or far less then that with an ETF or two that anyone can find with a little research. So your client needs to make $500.00 in fund growth to simply not lose money. Also that’s $500.00 not reinvested the following year. So very simply here you see how the costs/fee’s to the client compound quickly…

          Good luck with your new job. I wish you the best but go in with your eyes open.

  44. It is starting to sound like those who support world financial group never have any specific experience or facts to provide in their comment. All I am seeing is an immense hate on anyone who has a “job” or works 9-5. I am also seeing a lot of vagueness such as “I control my own destiny”. I guess to me, they just seem overly defensive about anything even remotely negative that is said about the ccmpany and will go about calling the poster uneducated and should get their facts straight. It is just suspicious to me.

    I was recruited into primerica by someone I knew (not very well) and at the time I was really thought I would get to help families. When I asked questions about how I’d get paid and if this was a sales job, the “manager” said no, we are not salesmen, we give families advice on their finances. I truly believed that at the time. He also said “you will get paid $1000 just to get trained!”

    So I thought, alright, I could just finish training and get my $1000 and leave… I was wrong. Apparently the “training” was to get at least 4 friends/families to get life insurance with primera and get at least 4 of my friends to sign up as recruits to get my $1000. I did manage to get one friend to sign up for life insurance.

    The story went like this… I had the friend interested and the manager pushed me very hard to get my friends entire family involved in buying life insurance. My manager told me to give the phone number to the “regional vice president” of the office; so, stupidly, I did. The regional vice president made the appointment and went to give his spiel to my friend’s family without me. Needless to say, I spent months afterwards chasing them down for my commission for that. I got many replies of “I will get on it” and “I will look into it”. I just quit after that and I never saw the commission I was supposed to make from it.

    I know this is not world financial group, but all of these, primerica, Edward Jones, etc are all very similar so I thought I’d share my experience.

  45. You made some decent factors there. I appeared on the web for the difficulty
    and located most individuals will

    go along with together with your website.

  46. All I know is that I am worse off financially by being sucked into a leverage investing strategy by WFG. I have lost pretty much everything and owe money on an ‘investment’ loan that is worth far less than the mutual funds bought with it. WFG has certainly left this family behind.

  47. True plus also donald trump also is into network marketing as well as Bill clinton and robert koyosaki if you dont believe me look at it on youtube. Also I know why because it proven that it is the most consistent business especially over time. If you look in the past how many businesses went out just because of lack of solvency. Technically every business is a digit away from going out of business. also you can do a job but im wondering how much money is your company overriding from your work for example at mcdonalds people who work their get close to minimum wage but the ceo get around 9k an hour is that fair?

  48. Lets talk about statistics since numbers dont lie look at how many people retire without the need of social security or from other family members. im not surprised why we are in retirement crisis that been expected. Also wfg as far as services go is utilize 150+ companies to provide accurate solutions to their clients. btw you cant lose money that you invested in because their are associations that will give every dime back its the law.

    • So, Jasper, If I give you $10,000 and have you invest it in an equity mutual fund and the market tanks and my mutual fund investment is now worth $8,000, WFG will give me back my full $10,000? Wow, sign me up, there’s no down side.

  49. @ Richard H

    Maybe “Warrent” Buffet will make up the difference ? What do ya think?

  50. I know wfg sells ffiul which is permanent life insurance which has downside protection meaning your 10k + your your contribution will never go negative. Since permanent is long term and has cash value you can receive cash after a good period of time tax free. Also its invested into s&p 500, euro 50, and hangseng. Also its interest rate depending on market is up to 13.5%

  51. If the worst case scenario happens like death then the money goes to your beneficiary versus lost so there is no downside. I dont know of a better product then that.

  52. Some of these posts are pretty funny. I am not a member of any MLM because I chose to use a different business model. I am a financial adviser, unlike most in the industry, with many years of formal academic training not just prospecting techniques. Everyone is entitled to their opinions but legally and ethically there is nothing wrong with MLM or WFG. I love the posts that talk about integrity and lack there of in relation to MLM. Most people confuse the words traditional with moral or ethical. Meaning, Goldman Sachs, Citi Group, and other power houses are traditional but when it comes to finance their is nothing ethical about what they do. The proof is in the hundreds of millions of dollars these traditional companies have to pay the SEC for ethical and insider trading violations. Yet the uneducated will continue to champion them as the golden standard because they are powerful and their business model is the conventional way of conducting finance. I assure you that some of their agents are out there selling annuities to unsuspecting prospects who do not need them because of the outrageous commish paid out. My point is if you dislike MLM you probably have your reasons but the fact is it is a legitimate business model (as legit as any other financial institution) and your opinion cannot change that, no matter how much you despise it.

    • Hi Michael,

      I don’t think any of you comment really adds anything to the message in this topic. Yes WFG is theoretically a legitimate business. I’m sure it has a business license, and pays all its taxes, and follows the guidelines it needs to be a business. Your basically saying that if one business like Goldman Sachs looks at paying a fine of 2 billion dollars + as “the price of doing business” then they are no better then WFG. I guess I have to agree with that to a degree as well.

      But the point here is (if you did really read all the posts above) is simply to warn people that they have much better choices then WFG or PrimeAmerica and these type of companies and to be vigilant with the way they invest your very hard earned money.

      You “say” you are a “Financial adviser”. Are you accredited? Are you a CFA a CFP? Did you take a sales course in a bank or an investment company on how to “sell” funds to people and they gave you this loosely based title of financial adviser? (Which is a “made up” title in those cases) – There is a big difference. If you really are what you say then you probably should have added that all the people who invest in these type companies would all be better off with a simple couch potato INDEX FUND investment strategy. If you don’t have a desire to learn how to invest and you can’t find a way to weed through the jungle of bad companies from the good, then that is you best course of action. It would be interesting to hear what your other “business model” is by the way?

      The reason people research this subject is to find some answers, your comment is misleading and not helpful. We are not comparing which company is the least ethical here. At least i would like to help people make smarter choices so they keep more of their money.

      I think we would like to hear how you would help the people in the situations above, rather then make comments about which business model is more legit then the other. It’s another non-answer.

  53. I don’t believe anyone here is trying to downplay WFG’s products. Why? Because every other financial company has the same products. But unlike other financial institutions, they are much more heavily regulated because not everyone is their own “boss.” For example, one agent might say “oh this is tax free,” while another agent might say “its tax-deferred.”

    I have much experience with people who work with WFG. Some do claim to be very successful in their business, but how do we know that for sure? How do we know its not “Hey, lets lie about our financials and how much we make so other people can be like us and sign up?” Its easy. They fake it and reel you in because these “newbies” start to idolize these suppose “wealthy individuals.” I know people from WFG that claim they make so much money, but they actually don’t; lets just say I work at the bank and some of these accounts were assigned to me. Many of these individuals flaunt what they really don’t have and suck you into their world. Their lines are always “Hey Bob, you are so well spoken and intelligent and I know you will make so much money doing what I do.”

    Don’t fall into the trap of “OMG I want to get rich so why not do this?” Do we have stats of how many millionaires are with WFG or is this what they tell you? Do you believe everything you hear? In order to make money, you have to take risks, and in my opinion, WFG is not big enough risk to accumulate wealth. Be smart and do it correctly.

    PS. Most of their agents don’t know their products as well as they claim; for example, cash value from life insurance is NOT Tax Free but Tax Deferred, unless its going to a beneficiary.

  54. Paul N,

    I would like to thank you for providing people with actual knowledge and valuable questions. I have worked for WFG but I realized that the products were designed to fill an agents pocket instead of actually helping a family (something every wfg agent claims). I hope people will heed this warning and educate themselves before jumping into this business and ruining their relationships and friends. I hope the best for anyone working with WFG but I hope they keep their eyes open and don’t fall for what they hear.

    • Thanks,

      I have to say this has been quite a source of entertaining discussion since 2011 when this post started. I appreciate that Nelson seems to let me respond here to people. I have seen some people close to me get put into some products not suitable for them. I understand that investing can be very difficult for people to understand to begin with. It does not help when they get pressured into products by recruited agents (which are usually their own trusted friends and family members or the network of “friends of friends” they run with). I have seen these people even “work” wedding parties faking being friendly then going into their little sell routine, one person after another. Like a desperate guy at a bar at 2:00 in the morning looking for a date before it closes.

      Look at post 45 by “Susan” for example. That is what happens to the majority of people recruited. They work hard until they get frustrated and quit.

      Like everything in life when something sounds to be “to good to be true” – question it.

  55. @paul n

    Lol I would enjoy dissecting your plans of success. From my knowledge and experience WFG is a kind of business that is recommended. I know there are 3 types of arthurs 1 is the one that says something and has no experience 2nd is tge one who tried something and failed and 3rd is the one who tried and succeed and it sounds to me your the kind that says something and havent tried therefore what you say is not credible.

    • @ Jason

      I would love to discuss this with you and have you “dissect my plans of success”. I would really like to reply to your comment but I feel the powerful message and clear facts hidden within your words makes it far too difficult for me to respond. Thank you for reaching out to me though with your thoughts.

  56. Where are the comments and opinions of WFG Adviser clients?? Some other blog perhaps? I would like to hear from these clients right here in this blog.

    I have been a bilingual employee benefits and retirement plan educator for several years now – no commission just bieng paid for  my time. I used to sell employee voluntary benefits including life insurance – for commission.

    The financial sales industry indeed has many greedy liars.

    Despite this, I still believe certain financial products are good for people to learn about and purchase.

    I am looking into again selling life insurance and selling investment products that truly help peoples lives in retirement. Life insurance can protect loved ones from financial burden and sound investing can be a great vehicle for putting money to work – when one cant physically earn money due to health issues for example. 

    It is not easy for one to find the right financial vehicles to maintain financially afloat especially when earning power is compromised.

     If I can earn money honestly selling these products, well then its a win win!!  I am bieng very careful in choosing which companies to do business with and along that path I recently attended a  ”Transamerica Financial Advisers” event. I’ve heard enough, for now. It is WFG. I have looked into WFG several years ago as well – I am still not yet sold on doing business through WFG.  I heard some great speakers talk about products, and great companies WFG is partnered with, heard from successful team leaders, testimonials about how peoples lives have changed, etc. What stuck with me this time though was the following comment spoken by one of the most respected leaders in the industry… “the most important thing in life is earning power”.

    If course earning power is important and one must preserve that power but to me it is not the “most” important thing in life. That’s a whole other philosophical conversation so I will stick to the WFG topic.

    Seems WFG has indeed made many people a lot of money but I am doubting how well “advisers” are trained on the products they sell.  I have sold life insurance and financial products before and these products can be confusing and complicated. Carrying out a competitive analysis is difficult as well . Anyway, during my sales days, I saw nice people become so greedy that their pupils became dollar signs.  It disgusted me how reps behaved like vampires with their fake friendliness just to win over a client.

    I don’t intend on building a large team or making millions – i just want to leverage my license and ongoing knowledge to help others I meet along my life.

    As far as WFG, if I don’t know a product inside and out how can I believe in it or sell it confidently? How can a client truly trust me if I don’t fully understand what I am selling??

    For me to believe in WFG, I would need to first hear from real clients that can attest to WFGs greatness, that the holes in their nest egg buckets created by a UL or Annuity product for example have reasonable fees, can truly protect market downturns without significantly eating away at gains and paying too much to have that “protection “, etc. Making money from selling a financial product makes sense to the seller but not always to the client. When it comes to investing, it’s not how much money is made that counts, it’s the amount that is able to be kept and able to be used when needed!!  And furthermore, that the “cost of doing business” makes sense in the end to the CLIENT not to the seller. 

    As far as any MLM business,  Amway, MaryKay etc, if you have many contacts who like you and respect your intelligence and advice, then you should be “successful” in any MLM. 

    Just be mindful as to how you measure your success. Have people been genuinely helped or has your pocket just gotten fatter??

    I will investigate WFG further, with a cautious demeanor but most importantly, I want to hear from real WFG clients.

    • Hi

      I was recently invited to an interview at WFG! I am so glad I refused the offer! I am so glad I realized their system and the way they make money! Today I went to the interview. They were very upset because I turned them down telling them I was broke. I really am. However I asked them if there is a way to help the company without making a commitment by paying the membership fee. They told me no, unless if I brought more recruiters… I laughed

      The true is that they survibe by the money they make from new recruiters and their sells. The fact that many WFG agents are posting here proves that they are trying to make a point. People dont usually comment or make posts if everything is going perfect and fine in their lives.

      If WFG was legit we would not have such a big discussion and agents from WFG wouldnt be here trying to make a point. However they must make a point and protect their company because any one who reads this blog is a client/agent in potential. You who are reading this right now is a client in potential and thats why WFG agents always come to these blogs and web sites trying to protect something! If a company works by itself does not cause so much discussion and people do not need to prove anything. However that is not what I have seen here at this blog. Every agent is trying hard to get more recruiters and they have to search for this blogs o try saving their reputation as a company. Lies lies lies…

      Dont let them mislead you before it is
      too late! End of discussion


  57. Why not have a tangible health and wellness products company that is internationally accepted and has started its global market. This will defintely prepare you for retirement by helping people free from sickness and stress in life….


    • That is pretty smooth how you slid in that link for what looks like a Filipino version of an “Amway” type business to substitute for selling WFG products. I have to say this thread never stops giving…

  58. @AAH

    You cant compare wfg to a job because one is business ownership and other is just a job. Can you control your your promotion? Is a job really steady? Can you control where you live with a job?
    Can you leave a legacy for your kids? Can you sell your position at your job? Can you control your job solvency?

  59. Thank you for the very intersting, informative and even laugh out loud funny article. As someone who signed up to work for WFG yesterday I’m now more than a little Leary of losing all my friends :(

    • Hi Charlene,

      Why don’t you take the time to write about your experience and give everyone an overview of the products you try to sell to your clients (and the fees) after a month or two. Explain the products in simple terms and how they help individuals “get ahead” with there own personal financial situations. Who does your recruiter ask you to target as clients? How are you treated? How are you paid? Report back and post some real facts!

  60. Well paul I am a client now a agent I can honestly say that no wfg agent can give you an exact exact number on the fee and pay because we dont own any of the products we just market them for other companies. Each company has their own fee that is paid to us I personally seen ones witg 1% some 4% it all depends on the product given. So far the person who gave me my policy being looking intobmy port folio every montg but he will let me know how much I get after year lapsed. The person who recruited me to target people I meet everyday plus friends and family which is good because I helped my mom with affordable ltc.

  61. Hi whoever you are! Just to make it clear and I hope you did your research, hence my username, PYRAMID SCHEME is illegal in any countries around the world. Now, just so it would be clear in your ‘supposed-to-be’ smart head , if this ‘scheme’ is illegal, how the h*** did WFG survive and get stronger for more that 30 years and Canada and even longer in the US? Also, how come 52+ insurance companies, major banks and professional money managers partnered up with WFG if it was illegal in the first place? Don’t they have their own legal or research departments? For sure, they’ve already checked out the credibility of the company which you obviously did not do since you already have your own opinion regarding WFG before you’ve had a chance to learn anything about it. Just saying.

  62. I’ve been a client of WFG and actually, I still am up to now and plan to be for years and years to come. This is what WFG has done for my family:
    This was our situation: We have almost $117,000 debts: car loan (2 cars), student loan (I took 2 years in college), credit cards and remaining mortgage on our home. Our family in the Philippines is also one of those devastated by typhoon Haiyan so we had to get a personal loan to send money to them. We pay almost $3,000 every month to these debts and our combined income is only $3,700 which means that we only have $700 left to pay bills, buy food etc. We have 4 kids to feed and provide for. So as you can see we really are IN DEEP TROUBLE. We were even prepared to declare bankruptcy that is until a friend told me about WFG helping her family and so I sought them out.

    I’ve heard a lot of negatives about WFG before which is why I didn’t try to communicate with them before this friend told me about what WFG has done for her. This is what WFG did for us:

    - First meeting: they gathered our data (all estimates) just so they could formulate a Financial Needs Analysis Report for us. It was complete. It had everything from our pie chart of our monthly cash flow to Insurance Protection needs to Retirement Plans and even meeting Financial Goals and Dreams.
    - Second meeting (about a week after): They presented us with a plan to manage our debts therefore increasing our monthly cash flow. We agreed and then they presented to us some basic financial concepts (that I think should be taught in school or taught by banks because really, everyone needs to KNOW THIS!!!) so that we can take control of our money from that point on.
    PLAN: Consolidate money by using equity of our home to refinancing. Home was appraised to $ 130,000. We were allowed to use $110,000 (85%) to refinance.
    - Third meeting (about 3 days after): Paid off car loans, credit cards, mortgage and personal loan. What we have left is student loans which according to our WFG advisor is okay to stay since it has low interest, 10 years to pay and interest paid every year is tax deductible anyways. From $3000 paid monthly to debts we are down to paying $1,100 + $150 for my student loans = $1,250. Increase of $1,750 in our cash flow. (By the way, by doing the consolidation, since it was actually done by a bank they’re partnered with, the agent only earned referral fee plus this bank has 3 mobile loan specialists that are solely assigned to handle WFG clients which was great because we never had to go to the bank. They went to our house!)
    - Fourth meeting: Plan for the monthly $1,750 + $700 (left over previous scenario) = $2450. Life insurance, Critical Illness Insurance and Long Term Care Insurance (500k each for me and my husband) $300; TFSA and investments $150 each; RRSP $150 each; RESP $400 for kids; $1,150 left over for everything else.
    NOW: We’re set for retirement (even though that’s still 30 years from now. With money saved up, we can even retire earlier!) Plus if we’re sick when we’re old, we have CI & LTC to take care of us. Our kids won’t have to apply for student loans (all 4 of them). We can go to dream vacations or send money to family without borrowing money (since we have our TFSA and investments). And in case something happens to me or my husband, we have enough protection to cover our kids’ needs.

    Yes, our WFG advisor may have earned a lot from this but hey, she did ALL of these for us. She deserves even more because she not only helped us with our debt problems but also and mainly, secured our whole family’s future, and that’s something we can never repay.

    Although these are not the exact numbers, I hope you get the picture. I spent quite some time writing this up but I would just like to correct those negatives about the company because from a client’s perspective, WFG has done nothing but good to us. I have nothing against those who may have had a bad experience with the company, but really, if you look twice or if you keep an open mind and just listen to what they can offer, it’s worth it. I have just become an associate in WFG 2 months ago, quitting my job in a financial institution after saving up enough money to spend during the start up of my business in WFG. I have already started helping people that are in my situation and already building my team. I know it definitely won’t be easy and there will be even more challenges coming but I’m ready for this journey because WFG has prepared me for it.

    • WFGClient and DoYourResearchPlease are the same person, just in case anyone gets this far into the comments.

      • Hey Nelson,

        I suspect people are researching WFG on line using their browser before committing money to them. I suspect more then one person has come here during their search. More then likely this blog and it’s comments have caused a headache for their recruiters / salespeople. Thus the crazy comments and the spam comments seem to be an attempt to clutter up + hide whats really going on there.

        It’s pretty sad that someone would select several made up user names and post hypothetical comments to try to further one’s cause. When you have to resort to tactics like that it seems that someone is trying to hide something. At least be a little smarter about it and use two different computers and locations to mask that your the same person .

        I also have to say the math is quite unique in “WFGClients” write up.From $117,000.00 in debt to paying everything off in “3 days” except student loans? So now they are $227,000.00 in debt (owe twice as much as before) I assume (and hope) with a lower interest rate having tapped the only equity they had and borrowing against it.? But now they have some “amazing” insurance products and can put money away in their TFSA’s and RRSP’s, and RESP’s so they “are set for life”? I’m shocked they didn’t throw a cute puppy that never grows old in there as well to top off that sweet deal. Wow… really? Great plan???

        As I have said in comments above everyone please do your own homework. If your in a bad situation there is no magic fix, and some people will throw you an anchor before they toss you a life saving device in these situations.

  63. Look, it’s real simple. WFG is owned by Transamerica Insurance Co., which is owned by AEGON a Dutch, global insurance giant. .

    All products sold by WFG reps require a license, either insurance or securities. Many WFG reps do not sell securities and hence do not get or need that license.

    Every insurance product sold by WFG in Texas is approved by the Texas Department of Insurance. That agency is comparable to the Department of Savings and Mortgage Lending (Mortgage Loan Officers and Mortgage Bankers) and the Texas Real Estate Commission (Real Estate Brokers and Agents, Appraisers and Home Inspectors.

    To sell insurance you have to have a license as do all the WFG reps, State Farm, All State, Famers and all of Flo’s friends.

    There are basically three approaches to the business. You can sell products (like State Farm, Farmers and MetLife), you can build a team and you sell nothing but help your team to sell, or some combination of the two. You can work part time, full time, or some time.

    To make a lot of money takes a lot of hard work. Dave Ramsey says you have to live today like nobody else to live tomorrow like nobody else. Stated another way you have to work today like nobody else to live tomorrow like nobody else.

    The biggest problem with WFG is that many people simply don’t believe you can make $50,000, $100,000 or much more building a business where you initial investment is $100 for a background check. If you had to invest the same amount as what a Subway franchise costs you would treat your business the same way, you would work to make it a success like your life depended on it.

    At WFG there is no quota, you do not have to have your own office, you can work part time, you can choose not to sell directly but have a team memember make a presentation, you can refer prospects in other cities around the U.S. and Canada to a successful WFG leader there and still earn money. There are so many ways to make money.

    WFG is a direct sales organization which utitlizes personal prospecting rather than pay for tv and radio advertising. It has worked for them and the WFG sales force. 1 out of 2 WFG reps makes $50k a year. 1 out of 4 makes $100,000 a year. And you can build from there. What are you making now, and what job security do you have? If all is good, good for you. The average job today lasts only 4.4 years.

    Ultimately every cent paid to a WFG rep, directly or indirectly, comes from the sale of state-approved financial services products.

    In the U.S. you have the option of trying to get a job in whatever field you wish. Obviously, some fields have greater income potential than others. If WFG doesn’t appeal to you, and you don’t think it’s important to provide protection for your family, help your kids with their education or have enough money to retire comfortablly, that’s up to you. On the other hand, if you are a person of means than you may already have those issues covered. Good for you.

    It is interesting to note that business people who are already successful usually become successful with WFG too.

    No one is dragged to a meeting. If you are invited and choose not to go, no problem. If you know someone looking for work but don’t want to tell that person about WFG, no problem. You get to make all those decisions.

    WFG is not for everyone. Pick something that works for you. WFG is an business that you should look at since it doesn’t require a college education, there are no expensive training programs that you pay for, and you are licensed by a state agency.

    What you accomplish in life is up to you. You can change your life if you change the way you think.

    • Hi Frank,

      Again you are addressing this topic from the view of a recruiter / WFG manager. You need to read the original post way up at the top. Is WFG the right product for the everyday person who would be your target clients? Or your friends and relatives? 99 out of 100 people WON’T look at this as a, so called “opportunity” to create a magical money making business for themselves. The 99 people would just be lured into investment products and insurance and loans that may really not be suitable for them. 1 person may have an incentive to go on and be a $50 or a $100K salesperson as you mention.That money is made from the 99 people paying commissions to WFG who do not want to be a recruiter or salesperson.

      A good number of folks don’t have enough investing knowledge to pick one investment over another and put blind faith into a person who looks and acts like they are selling something worth buying. From most of the comments from recruiters here like yourself, you either have no real investing knowledge, or you do and you deliberately ignore the real needs of your clients and just sign them up in the “grand plan” to the benefit of yourselves.

  64. You all be wrongs and foolin yo self if you thinks WFG isnt the shizzle fo heppin out hard workin folks. I aint got no college edication, but no i be having docrors and lawyers akin for financial adcise because i am a fincial professionel now. Dont be knockin it till you become a pro like me. Trust me, gives financial advise real good.

  65. TFA/WFG Agents must study hard and get licensed under strict lawful guidelines to be able to sell insurance/financial products. TFA/WFG is targeting the 95% of people who need financial product education and guidance. Most broker/dealers try to focus on the 1%! Insurance and investment products are NOT just for the rich – all of us deserve a piece of the pie. All of us deserve our hard earned money to work for us with little to no risk! Education and sound guidance is always the first priority in helping the 95%!
    Here’s my request …can I get MORE REAL TFA/WFG CLIENT TESTIMONIALS to post here? If not here then where are they?

  66. It’s genuinely very complicated in this active life to listen news on TV, thus I only use the
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  67. Dirk J is freakin’ awesome! You go Pimp!

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