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.

More Uproar for your eyeballs: That time I almost went to work for Investor’s Group

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?

Tell everyone, yo!

  438 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.

        • World Financial Group aka WFG

          is a multilevel marketing pyramid scheme/scam like so many others

          Amway, Herbalife, Nu Skin etc…

          If you make most of your money recruiting new recruits
          then according to the FBI website then you are probably involved in
          an illegal pyramid scam….

          • My cousin just got sucked into this recently, which is why I started looking it up. He was here just last night giving us all a big sales pitch and gushing about this new, great opportunity he’d found. My concern is that my mom has always had a soft spot for him, and I don’t want her risking her retirement accounts or her home to ‘help him out’ in his new venture.

            Ironically enough, Mom is a commercial insurance broker and has been for the last thirty+ years, so you’d think she’d be savvy and wise to this. I guess not though, because when I showed her some of the complaints about this company and people saying it’s a scam and that they sell the insurance and whatever at highly inflated rates and all that, she shrugged and said she really isn’t overly familiar with personal lines. she kept saying well..they’re regulated by the insurance authorities, so they haaaave to be legitimate.

            I explained that while they may not be doing anything illegal, it’s not exactly honest the way they recruit these people. Cousin had a 25 year career delivering pizza, and lives at home with his parents. He barely passed high school, and obviously has no formal education to speak of. Naturally, he’s got pie in the sky ideas since he’s been attending these functions and they’ve hooked him up with ‘mentors’ and all that.

            He’s easy prey, but I’ll make sure my Mom doesn’t give him a dime!

            It’s so sad that these kinds of companies are allowed to operate the way they do.

          • WFG and its Reps get sued successfully on a regular basis.

            There is a law firm in NY that specializes in suing WFG for its scamming of people.

            Some agents from WFG have been successfully sued for selling annuity products
            (that are high load fees and high commissions) to seniors and baby boomers
            nearing retirement.

            WFG uses vendor companies and sells defective products that pay the highest load fees and commissions to the Brokers and Sales people.
            They do not give a damn about their customers and clients.

            They do not tell you that a baby boomer or senior that buys one of their annuitiy products
            is barred from access to their money for 20-30 years?!
            That my friends is a big scam for people nearing retirement or in retirement
            because they sign contracts, unknowingly, that bars them access to their retirement funds.

            Prosecutors in California have filed criminal chargers and convicted some Brokers and Insurance agents for selling unsuitable insurance products to seniors and scamming them out of their needed retirement income…

          • First, I am greatly sorry that you are misinformed on WFG. Normally I don’t respond to false allegation usually you let its track record speak for itself. If you think about it and I mean really think about it you have a state regulated License, second WFG is is affilitated with top brand name financial companies, if WFG was a sscam wold those companies want to be affiliated with a scam company risking discrediting themselves? No, I wouldn’t think so especially after all these years WFG has been in existance. The true problem is individuals who refuse to follow a system that has been laid out for them but choose to reinvent the wheel that see fit and if it doesn’t work wants to blame WFG. It’s not the company the comany delivers exactly what it says it will deliver if you are coachable and trainable it does work a pay very handsomely.

          • If it was an illegal pyramid scheme, then why have they been in business so long? The answer is because it is not an illegal pyramid scheme. The only thing that it has in common with a pyramid is the agent structure. But that structure is no different than IBM or Microsoft in how their sales people are paid and overrides by managers. You get nothing for bringing in new people. You only make money if they become active in the business and sell products. You also need to be licensed in any state where you conduct business. The products we sell are regulated by the governments. I can’t sell the products for any more or any less than another company located down the street. WFG is a brokerage company owned by Trans America Company and intern owned by Aegon Corp. If it were an illegal pyramid do you think that other companies would be endorsing us? Pacific Life, Nationwide, Jackson, Everest and dozens more. We are now the number 1 brokerage firm in the world. We sell more Nationwide products than Nationwide captive agents. When you sign on with WFG you pay $100.00 that money goes for setting up your franchise and account and doin a criminal background check. The agent responsible for bringing you on board gets nothing. WFG is really a great sales and marketing company. By the way I am not interested in hiring just anyone. I want to bring people in that want to do the business people that are interested in making money. It is the same philosophy that we have in the Masons we don’t want to force people to join we want people to join on their own free will in accord those are the people that will succeed. People that want to work hard people that want to improve themselves people that want to make a difference.so don’t stand there and tell me what a bad organization it is when you haven’t walk the walk

          • You should go and jump in a lake

          • This comment from history8888 on getting paid to recruit just shows me how little you know about the company you are trying to bash.
            About the only thing I can agree with you and your buddy paul n on is that people should get educated about finance, learn the basics and understand how money works. School has kept us ignorant to finance and how to make money work then just working for money. You talk about WFG taking advantage of seniors but the banks other financial institute have been doing that for year. In a network based company I think it is more sincere in wanting to help the client first this could be a friend, or partner parents, team members lead. Why would you not want to do best for them. People are not as stupid as you depict. People can tell when someone is being sincere or really wants to help and share. I also think people are smart enough that we can determine that an investments needs to make higher interest then the debt in order to make it work in your favor. These agents go to people’s homes free of charge to help educate and explain how we can help families, free financial review and solution plan if client interested. Maybe we are more polite in Canada but I never saw pressure sales on my team, not to say that couldn’t be happening not only in WFG but in banks and other financial institutes. We get clients that end up paying $125 here in Canada for AMA just for the access to education. So they can be more knowledgable about their own finance, some never get licenced but save money and taxes just learning about advantages and disadvantages so when they’re ready to do a plan they are knowledgable and can ask the important questions to make sure they get best plan for them. Others get stoked and look at the business opportunity to share with others what they have learned for the same $125 and make a business of your own sharing and helping others. I can get educated and/or work on getting licensed and then and only then I can share financial information, solution building or make any good money with WFG, there is a referral program for non-licensed but that go straight to AON or Heritage for example, which you can make small commission, but need License of course to make it a real business. I have found WFG not your average MLM buy your kit and away you go. No! They give you all the tools, the partners in your team support each other with training and field appointments to get experience and better understand the business system, as well as the vendors like Everett, RBC, AON and many more doing product training exclusive to WFG. So, if you are saying the agent doesn’t know the product then that is on the agent cause WFG is also a training institute and gives lots of training. The list heard this so much, does your up line make money on your list? Yes, they do, but this is the associates training ground, field training it is important to be involved in the process but until licenced you can not talk or advise others, so by having your trainer go out with you and you observe is invaluable, and they do free of charge they don’t alway make a sale. I went on many introduction meetings and he only made a few sales. Also gives you incentive to get licensed and trained faster doesn’t it. I think it is unfair of you guys to say things like they just recruits idiots down on there luck, sucker them in, again can’t agree in my office alone we have people from all walks, yes some from warehouse worker, painter, etc but we also have accountants, business owners, engineers, nurses, these are all intelligent human beings, financial services industry can be learned by anyone it is not a gift given at birth and I believe should be learned by everyone, put it in high school so poor and mid class can benefit too and how great that unlike your thinking, that WFG gives a person the opportunity to learn with a small investment and a bigger investment of your time unlike the traditional industry.
            Crappy products, again you don’t know what your talking about, first these are not WFG products, these are the same as many banks and other financials advisors might have access to. WFG just have more options and variety for which to build plans for our clients. Offering insurance, savings and investment under one roof like a mortgage broker shops the banks WFG shops the suppliers for the best products for our clients. We can help people build a plan that makes sense at no cost to them. We only get paid by the suppliers as we help the client implement their plan. So, if WFG has crappy products so does the banks, the investors groups, envisions, since Aegon took over the company they have done some great things like sponsoring the Canadian curling team in the Olympic games winning Gold, they are on top in the financial services industry they are not hiding like some underground cult or finance ring. They are successful because of the great culture, recognition and teamwork model they built, were everyone can grow together, try and get that out of the traditional financial services industry. Not likely. You guys should really get your facts straight before peddling garbage.

        • I just love when you guys all respond to a 3 year old post. Shows how much you pay attention to actually reading the message you are responding to, before you post your standard pre packaged nonsense about your useless/overpriced products.

          • Please give THREE main points why its a scam or BAD or NEGATIVE really good ones, and I’ll debunk them all.

        • @Mary

          Yawn….

          • :) awwww poor Paul sorry must have woke you up. With the ringing of the blog bell. Sorry to distrube. Please, Don’t worry keep your blinders on and go back to bed and cover your head. Nite, nite

      • I’m just gonna copy and paste what I typed up earlier in the thread.

        I’ve been working at WFG / TransAmerica for 5 months. Been brought in by my parents. I ended up joining right after High School and I’m glad they brought me into it.
        I’m still going to college for a major in Physics and Business Management, but since that will take years in the meantime, why not work somewhere that can make a whole lot of money without being ordered around by a boss? I see a lot of pissed, confused, educated, and so on people in this post. But from what I’ve personally seen, this can’t be a scam. Licensing by the state is required so I see no way for a scam to pass that I got my license after a few months after procrastinating for months, got appointed, and now I’m making money.
        Honestly, the only ones who are doubtful were the ones who never actually listened to someone who knew what they were doing. That happens, a uninformed newby goes and talks to all their friends and gives a bad name to their company. But once a person who has gained more info on the concept speaks, then everything is cleared up.

        Ask any question, being an actual reasonable question. I’ll answer it.
        Hell, visit the office in San Jose, CA. I’d be glad to talk there.

      • I’m just gonna copy and paste what I typed up earlier in the thread.

        I’ve been working at WFG / TransAmerica for 5 months. Been brought in by my parents. I ended up joining right after High School and I’m glad they brought me into it.

        I’m still going to college for a major in Physics and Business Management, but since that will take years in the meantime, why not work somewhere that can make a whole lot of money without being ordered around by a boss? I see a lot of pissed, confused, educated, and so on people in this post. But from what I’ve personally seen, this can’t be a scam. Licensing by the state is required so I see no way for a scam to pass that I got my license after a few months after procrastinating for months, got appointed, and now I’m making money.

        Honestly, the only ones who are doubtful were the ones who never actually listened to someone who knew what they were doing. That happens, a uninformed newby goes and talks to all their friends and gives a bad name to their company. But once a person who has gained more info on the concept speaks, then everything is cleared up.

        Ask any question, being an actual reasonable question. I’ll answer it.
        Hell, visit the office in San Jose, CA. I’d be glad to talk there.

    • 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.

        • WFG only helps the people at the top of the pyramid\

          and the Wall St sharks who are getting the money from these contracts to Day Trade on Wall St.

          I have seen the crappy VAR products WFG sells,\

          Forbes magazine experts call VARs toxic products that should not be in any person’s financial portfolio

      • You are right my friend first of all this guys don’t even know what they are talking about, not knowing a life opportunity when it comes in front of them WFG of Transamerica is my future.

    • 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

      • Yep, that is why they will still be grocery boys, some people will never change and are to blind to see a great opportunity and won’t drink of the water even when you put it in front of their own faces.

        • Hi Alex

          Who exactly is the blind one. You just commented on a post from 2012.

          The grocery boys as you call them will be your recruits that don’t make it or the clients you sign up. Always a lot of fluff with no substance from you people.

          • Paul you really seem concerned with years of the posts. Just browsing the comments I have seen you say the same thing on many posts about the year it was posted, could that because you have been wasting years with your closed mind and blaming the other guy mentality that now your big thrill is pointing out the obvious. Who cares when it was posted, change your record your skipping. If you don’t have anything constructive to say and this is the best you can do then think you are the one with the fluff and no substance.

          • I think you should be more concerned with your struggles against reality.

          • Yeah, I don’t know about you but I don’t have any struggles with reality, if you choose to see struggles or see opportunity and challenge then either way you are right. I guess that is a difference between us.

          • Yes big differences. You win. I hope that makes you happy.? I actually use my real name here. I doubt you are, and from your writing style that you are even female. So lets verify what is reality. Just another BS comment from the WFG “PR” team attempting to clean up after themselves.

          • Oh Paul, I am sorry to disappoint you, but I am female, Mary is my real name, no I am not part of WFG’s PR team and I choose to be happy win or not cause it isn’t reliant on winning. Again your belief that everyone is a liar and cheat is what has made you so judgemental and angry. Does bad thing happen? do people lie and cheat others. Yes, of course it happens believe me when I tell you I don’t wear rose coloured glasses, but to harbour a bad experience rather then learn and grow from it will just make you bitter and angry, no way to live in my books anyway. I don’t know what happened in WFG for you or even if you were part of the Company, but let it go otherwise you will never see the right opportunity when it does present itself. You don’t have to believe me and probably won’t but that is ok maybe in time.

        • Yea, that must be it.

          It couldn’t be that many of the “pro wfg” posters making up 3 or 4 user names and posting reply’s here as if they were different people, but the posts all come from the same IP address. That is not disingenuous at all. Don’t see you making any commentary about that… I guess that type of deceit is OK in your book.

          • I won’t know if what you say it true or not the fact that you know that or have spend the time comparing IP’s is a little scary to me. There is good and bad in everything. No I don’t condone deceit of any kind in or out of WFG. Bad apples spoil the pot for the rest and if you have evidence of a WFG agent doing something dishonest/illegal then I encourage you to report them to the province/state so the can get their license taken away. In order to sell products or give financial advise you must be licensed and WFG is no different. I can not control what other people do or say I can only control myself and all I can say is I am a good apple. :)

          • There are 268 replies in this, why don’t you read them all and report the bad apples yourself. I encourage you or anyone to write real facts about your products in many of my posts here. No one has. They attack, or insult, or post up some links to absolutely ridiculous videos or post some other deliberately distracting message that is not helpful to anyone. That truly says it all.

          • Yeah sorry I have real work to do. You mean posts like yours, insulting, attacking and ridiculous unhelpful. I agree a real waste of time. Enjoy your vendetta or what ever you are trying to prove. Have a nice life.

          • Really? I’ll have to look at those, and thanks for proving me right yet again. My life is great thanks.

          • Paul, I work for Edward Jones…..If I did not
            I would put my money with my friends at Priamerica or one at Transamerica
            I am around other FA’s…I would never give them money…money hungry pretending to care
            but all about commissions

            I know friends at all big firms. no way I would give them money

            I guess bad Fa’s all over.Say what you want about priamerica and Transamerica… I would put all my money with either of my friends there…great and caring

          • @Lane ?

            Really… are we going to go there now too. So out of the blue… you came across this post buried deep within all these comments that even I have trouble finding to reply too and you write that. That comment doesn’t even make any sense.You claim to work for EJ? Wow – Is that supposed to impress somehow? Pretty well anyone can work for them like at the others. Everyone you have mentioned is really indistinguishable from the other. Does not make this right by any means…

          • To All here:

            I do work for WFG and Iam very proud to say it, the post either from 2012 or 2014 is irrelevant, been in the Healthcare Industry, have a Bachelors in Business been in different Insurance companies and reading all these comments just confirms how people is uneducated about the financial industry, Lane states I will give my money to Transamerica ………….Is funny We represent Transamerica……. only top platinum companies we represent, with or without business model this is an industry in which you can grow at your own pace and neither all your negative comments or google will change that. People who works in this industry is educated, we have a very diversified group of people and is 100% regulated by the state so NO MLM or Pyramid ……………… We can not change the mind of anyone, but we certainly can change ours ……. this is legit……. and regardless if is Edward Jones or WFG or any other Brokering company, the rules and products of Insurance Companies DO NOT CHANGE …………. GET EDUCATED PEOPLE ………..

    • 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?

    • FIrst being the question wasn’t totally remembered its hard to make any comment. Secondly, licensed and accredited financial advisors had adivsed people to invest in areas which also people lost money on back in 2008, chuckle chuckle, however had they known financial product that offer no loss of earnings as a WFG person does then perphaps maybe 2008 may not have happened as bad. Chuckle Chuckle. I just know some of the people that WFG agents served are happy today.

  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?

    • Damn right,, good things come to those who wait, but only the things left by the one who hustle.

  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.

        • If you make more money recruiting people than selling products or services

          then your company meets the definition of a multi level marketing illegal pyramid scheme
          according to the FBI website,

          • Like most I want to know more about WFG, here are my thoughts:

            History8888 says:
            May 20, 2014 at 2:41 pm

            If you make more money recruiting people than selling products or services

            then your company meets the definition of a multi level marketing illegal pyramid scheme
            according to the FBI website,

            ———
            A grocery store sells an apple to its customer, the income from the apple pays the cashier, the grocery bagger, the assistant manager, the manager, the general manager, the owners. —

            —- Is that grocery store now a Pyramid Scheme, MLM?
            in a way YES, but once they recruit most stay because of steady income, the lower tiered people get laid off/fired/quit for multiple reasons (theres no where/little room to grow)

            ——–

            A hotel conglomerate “Franchisor” (IHG, HILTON, CHOICE, WYNDHAM) opens up its hotel chains to “Franchisee’s”,(HOLIDAY INN, HAMPTON INN, COMFORT SUITS, SUPER 8) so the “Franchisee” can open up their own hotel or in some cases multiple hotels.
            So, that “Franchisee” MUST hire the right people to RUN it, and fire/layoff all the others who suck at working in hotels, so the “Franchisee” can make money, and send some it to the “Franchisor” for using a specific brand name a.k.a. “Franchise Fees”. Lets see how that trickles down shall we?
            (Hopefully this makes sense to most, for those that don’t understand, good luck)
            Hotel Guest’s Pay $100 for a hotel room
            – Front desk gets a cut. (HIGH TURNOVER JOB)
            – Housekeeping get a cut. (HIGH TURNOVER JOB)
            – Sales Staff get a cut.
            – Management get a cut.
            – Maybe the owners of this franchise can take home some profit (after the Above+Below+Taxes from the $100 room night)
            – A Good CHUNK goes to the Franchisor in a form of “Franchise Fees”
            – The administrative Assistant. (MED. TURNOVER JOB)
            – The Admin Team
            – All people involved in corporate management (Sales, VP, CEO,CFF,….)
            -Who know how many other levels of people
            – Shareholders

            Is that hotel a Pyramid Scheme? I think so, You better watch out Pyramids are everywhere!

            you have to have man power to make things work, some people work out some people don’t, not every opportunity is for everyone.

            ——–

            Here is another example:

            –How many of you would be in the pornography industry, for an opportunity of a life time, making money for each shoot, job, session? (very few most likely)

            –How many of you would like to sit at a desk 9-5 punching numbers on a computer, and having someone tell you when to go to lunch, when to some to work, what days you can and CAN NOT take off, for a comfortable stable pay check (Legions of Americans)

            Guys, WFG does not make money off of its recruits simply by recruiting!, The recruits must sell a product, if they don’t sell they will make no income, AND if the make no income they will eventually drop out and have a sissy fit.
            The point of recruiting is to weed out the weak (thousands) and keep the strong (handful).

            Insurance companies do it, if you don’t want to be apart of it, make sure you don’t sign up for your companies 401(k) plans, the life insurance they give you, and don’t forget to NOT sign up for your companies Health plan either

            -Not all people that come in as recruits have the mentality that WFG is looking for.
            -Not all people that come in as recruits understand what needs to be done before you starts TRYING to recruit. (Health/Life License, Series 6,63, Countless Hrs. of Continuing Education, More Training)

            —————————————————-

            1. Sorry for the long write up, reading all the reviews made me spit out these lamen examples.
            2. I do not work for WFG, I have been to 1 meeting only.
            3. I am an insured life/health agent that works as an independent agent for many carriers.
            4. Keep an open mind to opportunities in life, if you turn your back on them, you will miss out.
            5.Google every single company out there.. there will always be bad media on it.
            6. people are giving WFG a bad rep because THEY THEMSELVES FAIL!, and need to blame it on anything and anyone but themselves for failing.

            Thank you.

            Good Job Anonymous,

          • @ Common sense

            You realized all that after 1 meeting. Also you defend wfg that vehemently? Come on, you know that’s a red flag that your not being 100% genuine here…

        • This is how I see their pyramid system works, they insistently recruit a large number of people is just like creating an army for a king, if one fail to bring in a client then hopefully the other employee can do, that way the king and his loyal generals can still able to sit tight in their positions without doing anything, but still generate their income growth. The bigger recruited is the bigger army the better that they’ll fight for the king and his around him. This is their internal system, it has nothing to do with clients concern.

          What clients should concern priority is do they get the right information written on their policies copy. What is the best value policy they can get that give them most benefit. I have been selling insurance before when I sat down with clients I don’t talk without my product’s binder open up in front of my clients, and I don’t make up my words as I speak, I follow what in the company’s binder say and go a long with clients thru the company’s binder.

          • Really is that it? I guess that clears it up for me.

          • Drunkai and Paul N :

            I wonder what kind of profession/job or education you guys have (if youhave stated here I did not read the whole thread……………..looooooooooooool) ………….. What KING ?
            LION KING ?? You guys instead of making an objective statement are just going from cold to hot………Like the humor ……. oh yeah I see Drunkai says he sits with clients with products binder OPEN ,………………How do you know HOW We sit ?? Go to any Insurance company specially Allstate and State Farm …………..the KING is the owner and the workers are providing the KING the $$ …………BTW they get pay hourly and is very very little and limited to ONLY SALE THEIR PRODUCTS ……AND Many of the KINGS do not even have the knowledge about what an Index Universal Life Policy Is………. You guys keep the thread going I HAVE WORK TO DO ……………. LooooooooooooL

      • Well put Anonymous!! Excellent!!

        • @ clancy + common sense

          You continue to miss the points.

          1) you enlightened people continue to respond to questions from 2+ years ago.
          2) you simply refer to what money a recruiter can make on the backs of all the clients who lose money.

          3) Nobody cares about the smoke and mirrors non answers you keep posting here. It’s simply a lot of BS. If you had a good product you would address all these complaints and fix them and post your success. But none of you do that – you just jerk everyone around with your “cult like” nonsense ramblings which have zero financial basis.

          • Paul N,

            1. I know it was from 2+ years ago (I thought I mentioned that, perhaps I did in an earlier post. I am sorry I made you read a post from a post from 2+ years ago.)

            2. well any recruiter can make money off clients backs, Hedge Fund Manager, Stock Brokers, even you companies 401(k) plan manager.

            3. I don’t speak for WFG,(as I do not work there) I cant show you an intangible product.

            But outside of WFG I do sell insurance, here is one i’ll present to you, and you can be the judge of rather you like it or not.

            Guaranteed Universal Life with Return of Premium and LTC (Long Term Care) Rider (All included in cost without greatly increasing the cost.)

            Buy a policy for say a $200,000 death benefit + LTC Rider
            Depending on your age/Sex: A (say 40 M,)
            Depending on your health: B (PNT) Preferred Non-Tobacco
            You’ll get a premium amount: “C” that you pay for “X” years (or until the policy allows you to stop paying further)

            Starting on the 15th – 25th year if you don’t like the policy you can have your premium “C” x “X” back MAX of 25th Yr. (I dare you to get a quote for the same amount of insurance on your 25th year for the same amount at that age) Either way you get your entire premium back.

            Lets say you keep it because common sense kicks in….
            now lets say you are Terminally ill (Dr. says you have cancer and may live no more than 3 years)

            Enter the LTC Rider: allows you take 2% of the $200,000.00 = $4,000.00 (Min. $500 MAX $4000.00 in this case)

            You opt to take the 2%@ $4000.00 for the next 24 months = $96,000.00 (how ever long you want till you draw your death benefit to Zero, IF YOU CHOOSE TO DO SO.)

            $200,000.00 (Death Benefit)
            -$96,000.00 (LTC Benefit while you are STILL ALIVE)
            =$104,000.00 (Death benefit left for your loved ones at death)

            I hope that helps, I don’t know if WFG sells this or not, but one of the carriers I represent sells this.

          • @ Common sense…

            I must ask – Why would you decide to post this on a blog that the subject is : “My Experience With World Financial Group” if you are not affiliated with them? If you have a strong legitimate product why have you stopped here to reply to a 2 year old comment ? I do appreciate you being one of the first people to try to express a thought both articulately and with an attempt to back up your words and not simply attack people here. But is this really the right forum for you to do so? I doubt you will get a client or find someone to sign up with you.

            I am more concerned when i walk into a coffee shop for example and you see someone signing some poor couple up to some unsuitable products at a table there, or at a party or your cousin… Not really in the best interest of the clients.

            People going to hedge fund managers are people that have money already that are trying to maximize it and talk about it later at a cocktail party later. I believe there is a 1% success rate for that method of investing. Also something I would not recommend. All through here I advocate taking control of your own finances and become your own advisor. So I really don’t agree with any of your examples above.

  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.

    • I know this is from 2013…

      All Cash Value Life Insurance must be “properly funded” in order to build this value.

  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.

    • Wrong.
      It was WFG company policy to tell people before the financial crash to refinance their houses, take out equity
      and put it into WFG products.

      WFG had a mortgage company and was pushing negative amortization 1% option ARMS to facilitate that bad financial advise
      to people.

      WFG was sued and fined heavily in many states for unethical and illegal business practices.
      as were individual WFG reps

      • I originally joined WFG back in 2001 as college student. WFG Concept very much intrigued me but the recruiter / uplines at the time were proposing some unethical information. Pushing for 12 to 15% annualized returns on products as GUARANTEED. I was day trader for many years and understood the risks of market and there is no way I’m telling people that you’ll get 12 to 15% return per year GUARANTEED. Because of this reason, I left WFG (formerly WMA). This particular group ended up perishing after few years when the 2002 crash happened. Around 2007 or so another group started up near where I live, this time they were recommending ARM loan to use that money to invest. This group also perished after few years. After 12 years, I rejoined WFG this past year. I rejoined because of the new products and new people. Its not the company, WFG that causes undue harm to clients. Its the people. Most people are too greedy and make choices that hurt the client for extra money. Even if its individuals who harm the client, WFG must take responsibility and gets sued since money isn’t in the suing individual advisors. If you google any all all finanical companies, they have been sued numerous times. Just look at Chase. There is multi billion dollar fine on them but over 50 million people bank there everyday getting “scammed”. At the end of the day, WFG is a company made up of individuals and not every individual at WFG has client’s best interest at heart. I’m sure there are bad apples even in my group but at the end of the day, I do the right thing and promote the right thing. That is all I can do. One of the main reason why I came back into the industry is to educate average person in financial literacy. No one educated my mom the risks before putting her 401K into market in 2007 and taking a 47% loss in 2008. I came back to make sure I can save few people around me to not make those mistakes. Like any sales representatives, there are good ones and there are bad ones. Don’t judge everyone to be bad from few rotten apples.

        • This is another BS post.
          No one who would have successfully day traded would move on to sell World Financial Group products. They would realize it would be an inferior way to invest. Also “rob” again who cares about Chase? This is about bad experieces with World Financial group not Chase. Chase does not ask their new employees to then recruit 10 more employees or get fired like world financial group would.

  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.

      • WFG does notg help families as you say.

        It finds gullible uneducated, not financially wise people and sells them not suitable for their families
        as a flurry of lawsuits proves.

  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.

    • You are correct…

      And they also sell annuities to baby boomers which is a huge no no
      and do not disclose that if they put their money in then it must stay in for 10-20 years
      and they cannot touch it even if they are at retirement age.

      Many lawsuits against WFG.

      A law firm I saw online specializes in suing and winning against WFG and its poorly trained Reps who lack
      knowledge and understanding of the products they sell,

      Any warm body can study for a license to sell insurance,

      They must understand what they are selling and to the appropriate parties or they are breaking numerous laws and regulations.

      • History 8888,
        Baby Boomers are a market segment, they are entering retirement, there is no where that says you cannot sell anything to them. If they are of sound mind, and are educated they have the right to see fit they have enough income coming in during those years,
        Many will be living of faded pensions maybe 401(k), and will rely heavily on Social Security, and their own savings.
        This is NOT a retirement.

        There are many different types of Annuities, not ALL of them are locked up for 10-20 years.

        • Yes there are laws and criminal violations for fraud if you sell unsuitable products to people.

          Prosecutors have filed criminal charges against Insurance Brokers who do that.

      • Incorrect, their are annuity products where you can have your money for 5 or 7 years, which you can withdraw 10% a year with no penalty. After the 5 or 7 year period you can move your money or leave it in the same place, with a guaranteed cap of .75 if the market tanks or guaranteed cap of 9% of return. Like any business being car sales or mortgages, their are always going to be unscrupulous people that take advantage of others, but you cannot penalize the company when the agents are independent on a 1099.

        • BS.

          It is a “modus operandi”

          Or way of training people to do business as WFG agents.

          Of course, WFG makes
          Everyone involved in the pyridoxine scheme sign disclaimers that WFG is not responsible when it’s agents follow the direction and training for the top to intentionally rip people off.

          WFG will try to “hang it’s own agents out to dry” in any legal action after they follow WFG system in marketing the TP products…
          Why would anyone want to work for a company like that?!

  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

    EASY PAUL…RELAX! DON’T GET ALL WORKED UP. WE DON’T WANT YOU TO HAVE A HEART ATTACK OF SOME SORT. THIS IS JUST A BLOG. BY THE WAY, “SARCASM IS A SIGN OF A WEAK MIND AND CURSING IS A SIGN OF LACKING EDUCATION”.

  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.

    Pros:
    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…

    Cons:
    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,
      Kris

      • 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?

      -Ernie

  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.

          • Let me straight this up forward when someone complaining something bad happened to them, so I understand and respect your voice should be heard. Anyway back to the topic let me give you an example when someone need to buy a car how the dealership make money from buyer? The system all the same for every company, the CEO of dealership gets most revenue and down to their manager and then their seller. The dealership makes more money from the car’s manufacture itself. Yes? Do you know why? It’s because the dealership labor and service to the clients. Are they scammer ripping off buyer? Yes, they are! People still buy car from dealership like crazy! Their service cost like 20-30 times from the part that people need them to change. Are they ripping off their client? Yes, they are! Another example is when you walk into a restaurant which we all do most weekly when you sat down first of all you have to leave the tip before you leave, and the dish you ordered costs 5-10 times than you buy the ingredient to make it at home. Are they ripping off their customer? Yes, they are! Business is ripping off in variety forms, but that’s the law of living, there is nothing free out there for you. Insurance works the same way, you need to protect then you have to pay. Invest your money in mutual fund like a gambling form, but it’s little safer. You want to generate money you must go thru the broker/agent it will cost you money. We all have home and car insurance. Are they scamming us? You know the answer already. How their broker/agent earn for living? it works the same way.

          • Hello there,

            I must say that is one of the most honest answers from one of you in all the posts here. I see what you are comparing this too. Basically you are saying every business is some form of a rip-off, so why is WFG or PrimeAmerica, etc. more so then any other business? Sounds actually like a fair question.

            I think the car rip off example is pretty decent on your part – you could go to a bad car shop and they could way overcharge you. The food one not so much, as most work on very small margins to make a profit.

            But using your car example is good. People should shop around for the best product, educate themselves and purchase the best product that gives them the best value for their money. This is exactly what this whole post and all the comments here are about. There are choices out there this blog tries to tell people to choose wisely.

  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.

    • Steve, you are absolutely right on “don’t fall into the trap of ‘OMG I want to get rich so why not do this?'” It is not a get rich scheme although there are select few who make it very quickly. I met a young lady who in less than 6 month made over $250,000 (I’m sure she had lot of help). Is that typical? Absolutely not. Average person in WFG who SURVIVE for a year makes about $10K to $15K because if you don’t make at least this much, you will quit. Average person who SURVIVE for more than 5 years, makes anywhere between 50K to 100K. Most everyone who I know lasted more than 10+ years make at least 100K. How I know this you might ask? Using the agent code WFG gives you, you can guess how long a specific individual has been around in the business. Using that info, I can look up their individual and team production which gives me rough estimate of how much that person makes. I quit WFG (formerly WMA) 13 years ago due to the unscrupulous leaders at the time. I’m an engineer by education with minor in mathmatics and back ground in accounting. I have been day trader for long time and understand market risks better than most. Why did I rejoin WFG 1.5 years ago? 2 reasons: 1; I realized that if I don’t get involved more people around me are going to be taken advantage of by unscroupulous people WFG or otherwise. 2; Fixed products they have currently are so much better than what was offered at local banks and properly structured Index UL can beat the pants off the 99% of the Mutual Funds for those who have 20+ years on their time frame. Anyone who invest in Mutual Funds can duplicate same thing using ETF or Index Fund and pay 80% less in fees. Lastly, Cash Value in Life insurance is Tax deferred but can be withdrawn completely tax free year after year as long as policy is in force when the insured passes away because its taken as a long while insured is alive and you pay it back when the insured passes away. Only time you will pay income tax is if you take out entire cash value and policy is cancelled. Even then only the growth is taxed at ordinary income tax rate (Tax Deferred). If you need more in detail example, let me know. Just to be fair, I made about 20K in last 10 month or so with 15K from last 4 month just on my personal production only. I have no team as 15 recruits I did have none are active. All the income I made are from cold market. My warm market (friends and family) were used as test run in the early part of the business when I wasn’t licensed so I made no money from them. If I worked for traditional company, I would have made around $45K doing the same policies but would not have the opportunity to grow it as fast.

  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

      Stephan

  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….

    ….http://www.youtube.com/watch?v=NOHmHvq9KTE

    • 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. Dirk J is freakin’ awesome! You go Pimp!

  67. I can share my experience with WFG. I was a WFG associate for more than 2 years. I can’t say that it is scam. We can make money depend upon our commitment to recruit. It is a pyramid scheme, but everybody can get the same opportunity. My opinion is
    if you are not good enough to recruit people it is impossible to do such a kind of business. I quite this business only because I am not good enough to recruit, convince people about the benefit of the business and the insurance.

  68. One on my friend from NY invited me for seminar at WFG. Hey Paul, after looking at your comments and you trying to aware other people, can you please show me other options beside WFG. I just graduated from Baruch College in Finance and been looking for job since 7 months. I don’t want to be recruited by any company. I don’t like recruiting company. Please help me find job.

    • @ Nancy

      I went on your College website to try to get an idea of what courses that college teaches. They have a long list of some pretty prestigious companies that students from that college were placed at. I don’t know what you majored in, so it is very hard to direct you. Did you try the colleges placement dept? The first question to also ask is what part of Finance/investing interests you? Then consider which companies best fit your area of expertise. I wish you the best of luck.

      • So that means you can not help me. I am still looking for job. If my college would provide me a good job, why are we here jobless. Many people graduate from this college still in same place. What kind of company is legitimate business? I went to metlife, new york life, primerica, wfg, NILICO, every financial institutions looking to recruit me. Whom to believe and whom I trust? Are they all the multilevel things???

        • Hi Nancy,
          I’m sorry to hear about you employment situation.
          There are so many factors as to why this is unfortunately very common place indeed.
          Baruch is a very well known school…but as you eluded to….my cousin couldn’t find a job for nearly a year after graduating as well. Long story short…he relocated to Toronto, Canada in order to find employment and to pursue his business aspirations.
          Are you located in the New York Area?
          What is that ideal position/career you are looking for?

  69. My father is Scammer. He is also multi level marketing.

    Father(head) (Boss) doesn’t work

    1. Oldest Son. 2. Youngest son. 3. Daughter. 4. Mother
    Makes $2000/mo. Makes $2500/mo. Makes $2200/mo Makes $3000

    Since my father doesn’t work we have to support him. We pay for his food, rent, clothing and for everything. We feel like we are working so hard for making him rich.
    What has happened to the world. Even my family is affected by MLM.

  70. Wow what a conversation! Thanks to everyone for their experiences and thoughts – both the PRO and ANTI WFG folks for taking the time to share.

    I went to my first WFG meeting on Saturday May 3, 2014. I must say I’m very intrigued by the business model and willing to invest the $100 to learn more. Seems more than fair as they have a business to run too. The only other cost is for the licencing test (about $300) so as far as I’m concerned the training is all FREE. There was a room full of associates who were dedicated brand ambassadors, so it clearly works for some.

    I have a full time job in Communications but my one true love has always been money – how to make it and how to save it! My friends and family come to me for advice ALL the time. I’ve convinced many of them to save for their future, suggesting no-fee chequing accounts and tax free savings accounts (Canada) and always finding innovative ways to cut their expenses. I know it sounds cheesy but I actually want to help people! I bought my first house in September 2013 (and it was not easy) and it felt amazing and I want to help others do the same by saving for a goal.

    I’m a tough sell though. I will scrutinize all WFG products (I’m aware they are other big company’s products like TD and BMO which makes me feel more confident) and compare them to 30 others. I will definitely not sell people crap. My goals are to actually help people with their finances and the key to that will be increasing savings and putting them into the right investments. If one of the side effects to this is making money and developing this natural talent in the process, so be it! haha

    I also plan to document the entire experience, including REAL life portfolio examples on my Finance Blog, i will update you all with progress in the coming months.

    If anyone has another other tips on how to begin a career giving financial advice (in Canada), I’d love to hear your suggestions!

    • @ FinanceDiva

      I must say I am surprised that after just one introductory meeting you chose words like – “a room full of associates who were dedicated brand ambassadors” in your mail above to describe other attendees? I will look forward to your findings and I will ask a lot of questions.

      Be very interesting to see your numbers spelling out clearly all the fee’s and interest rates on leverage loans etc. on mutual fund purchases. Just how working for/with WFG is beneficial for the average Joe? How is it different from an Edward Jones, or Investors Group or Prime America or even compared to a fee only financial planner?

      Also you make reference to your “Finance blog”? Why would you not post a link here so we could have a look at it? I did find a “Finance Diva” website out of Washington USA. Is that you?

  71. World Financial Group aka WFG

    is a multilevel marketing pyramid scheme/scam like so many others

    Amway, Herbalife, Nu Skin etc…

    If you make most of your money recruiting new recruits
    then according to the FBI website then you are probably involved in
    an illegal pyramid scam….

    • Hi History8888,

      I think you have the definition incorrect. Both use very similar structure so people do get confused but let me see if I can explain it. Pyramid Scam is illegal because you are charging fees from new recruit to pay the recruiter. There is no product or services provided in Pyramid Scam. Example, if I recruit 100 people and each pay $100 to agency. If I made any money by getting paid from agency for the recruit fees, that would be illegal Pyramid Scam. MLM or Multi Level Marketing is marketing strategy in which the sales force is compensated not only for sales they personally generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant’s “downline”, and can provide multiple levels of compensation. In WFG, the correct way to compensated would be something like this. New people coming in doesn’t have the financial knowledge to sell or advise on product so all they do is share basic financial concepts via standard presentation. Once licensed, the upline trainer does all the work (advising, finding the right product) but commission is split because downline brought the market. Upline trainer should be someone qualified but the issue comes in because people get greedy for money and do not follow the correct guideline and try to do it all by themselves so they can get 100% commission even if they’re not knowledgeable enough. As the downline learns, less and less is needed from the upline and if they reach the same level, there is no over riding commission. Overrides only occur if people are at different levels. That is same in every day business (Mgr makes more than Asst Mgr, and Asst Mgr makes more than employee). Beauty of WFG MLM structure is that even if you just started, that doesn’t mean you will be below the person who brought you in. I make more money than person who brought me in and make more than person who brought him in, and make more than person who brought her in. I make more than 3 of them combined because I work harder. There is definite advantage for my uplines but if they don’t do their own work, they will be stuck and will not see the benefit of having me produce.

  72. Whoever started this topic? Can you tell me if we need to do any business in USA, what are the processes? If you are dumb better don’t bother commenting or else you can comment. Give some good suggestions. I want to open a coffee store in 50 states with the same name. To do chain business, is it term as multilevel marketing. Because I know I can not work by myself in all those stores, I need to hire people or look for business partners.

    By the way Paul, what’s your background? Did you go to school? Learn about the laws on what kind of business is not called scheme.

    What is pyramid scheme?
    What is multilevel marketing?

    If anyone can answer go ahead.

    This world is full of competition guys, you don’t even know what one people from one financial institutions can do to make other institutions look bad.

    Believe in yourself. Those people who are asking for help, are you guys old enough to make decisions for yourself or depend on others to make decisions for you.

    Don’t be dumb for some reason when people tell you what you should do?
    #paul you are a loser.
    You are destroying many people’s life, where they can at least live their dream and here comes Paul to destroy it.
    Grow up Paul. Find better job. You can never be an entrepreneur, you will be always serving your boss.

    Peace

    • @ Dumb Paul or Paul is Dumb

      For a starter you really need to be clear who you are directing your comments too. Once you figure that out, maybe string together a few sentences that can actually be understood. All your doing here is writing a lot of unhelpful nonsense and not presenting any facts (again). There is nothing of any value that you wrote in your comment. My question to you is the same as the others, clearly specify how you bring value to the average person. Stop throwing out poorly constructed catchy phrases and personal attacks – you only make the case for your business even less legitimate.

      • What is your intention to come up with all these nonsense? I don’t want to read all your nonsense stories. Put it to the point.
        If you think you are helping other people, on what basis?
        If you are helping others with legitimate points. Just stop all your nonsense and say sorry to those individuals who want to change their life. God will forgive you.

        • I have explained myself clearly, but you continue to write nothing of value. But I am looking forward to it.

    • FYI everyone, Nancy and “Dumb Paul or Paul Is Dumb” are the same person.

      I know Paul is a big boy and can take it, but don’t insult my commenters. Just go and recruit 64 people underneath you and make $4.3 million in your pyramid scheme.

      Oh, and I guarantee Paul has a higher net worth than you do. But hey, keep insulting him. He’ll laugh all the way to the bank.

      • Thanks for having my back.

        I deliberately refrained from digressing to that level of discussion. (wasn’t easy, a little bit of using the delete key). I really felt that commenter is actually more intelligent than “he/she” was letting on. It’s just another thinly veiled attempt to trivialize / belittle some of the good comments on this now almost 4 year old thread. I can only imagine that people considering investing or being recruited by wfg type organization do a Google search, wind up here then ask their “recruiter/advisor” some unexpected questions. Then the recruiter probably asks how they came up with those questions.

        The result are these wild anonymous postings and previously the spam that you must have cleaned up. This has turned into a great information resource for people if they are willing to read through it all. It’s sad to see these desperate attempts to undermine the messages within it.

  73. Hey guys, no offense to anyone, you guys are educated. We all are learning here,.

    Simply tell us what is Pyramid scheme?
    And how can we differentiate if the company is pyramid scheme or not?

    I am not particularly focusing on WFG but any other companies out there in the country.

    How can we check if the company is real or regulated by government?

    If you guys can help on to this, that would be the best way to learn something from you guys rather making dumb comments between eachother.

    • Yes! I agree!!!
      Many of us just want to know of any good, legal companies out there!

      At the end of the day…..every business and organization has a pyramid structure…..for me it’s all about finding a legal business that provides a level playing field and provides a viable product or service for the most part.

    • You can read an interesting story about how a Pyramid Scheme almost destroyed an entire country here: https://www.imf.org/external/pubs/ft/fandd/2000/03/jarvis.htm: “In a typical pyramid scheme, a fund or company attracts investors by offering them very high returns; these returns are paid to the first investors out of the funds received from those who invest later. The scheme is insolvent—liabilities exceed assets—from the day it opens for business. However, it flourishes initially, as news about the high returns spreads and more investors are drawn in….When investors try to get their money out, they discover the truth about the scheme, whose demise is swift—and usually accompanied by acts of outright theft by the operators, if they are not caught first.”

      So it’s not a Pyramid Scheme if you are selling an actual product that is real and tangible. This is why MLMs like Arbonne, WFG and others are not shut down immediately. With most MLMs you make money by recruiting new members so it’s a Pyramid structure (not a scam). But regardless of what you are selling eventually the market will be saturated, and that’s when the people at the top will no longer be able to bring in new sales people and the whole thing will crumble. Especially if you are selling something totally worthless because once the recruitment income is gone, there is no where left to make any money.

      • This is what confuses me a bit. You stated that you make money from recruiting others…..and that is what concerns me.

        There should only be money made if services or prouducts are exchanged…..not off the actual recruitment of others.

        It think that is a big part as to why many have issues with the MLM industry.

      • @ FinanceDiva

        You wrote just above :

        “I also plan to document the entire experience, including REAL life portfolio examples on my Finance Blog, i will update you all with progress in the coming months.”

        Please give us a link to your “Finance Blog” – I think everyone is really interested in visiting it!

    • What is pyramid is the same person as Nancy and Paul is dumb. Can you do us all a favor and stick to one name? This whole name switching thing is really hurting your credibility.

  74. WFG World Financial Group is the biggest scam going.

    It is a multi level marketing pyramid run like a cult.

    The people working there are uneducated and know nothing about financial services and products.
    I have met some of these people at WFG….gardeners, garage attendants fast food workers , HS and college dropouts etc….
    I would never take advice from or buy any financial product from these people,

    Google World Financial Group fraud and get like 50 million hits on the Internet.

    WFG hires any warm body that will pay them some up front fees.
    And, then they try to commandeer your own personal contact list
    and scam everyone on it and not pay you using your contacts as some sort of perverted initiation rite\
    where if they sell them, ,they get paid and you get nothing but a pat on the back lol!

    WFG sells people lousy VAR (Variable Rate Annuity) Insurance products
    that most experts state are terrible products for most family’s financial portfolios.

    Forbes magazine and other experts feature numerous articles by experts stating how terrible these products are.

    WFG aka World Financial Group sells very “high load”, and very high commission products
    that have terrible returns for the clients.

    It is good for the sales person if you don’t mind splitting your commissions
    with an upline or downline of hundreds of people doing little or no work.
    (A sales job for suckers).

    Read the fine print people!!!

    World Financial Group’s VAR polices are subject to change without notice,
    You could end up with a “cash call”
    or a negative value policy Or, as recently happened, the insurance companies
    writing those VARs just sent out letters and completely changed the terms\
    of those crappy policies to benefit Wall St companies and to rip off the so called policyholders/suckers
    paying the exorbitant premiums..

    VARs are only loosely called insurance policies.
    VARs are vehicle for Wall St to day trade with your hard earned money
    and to use suckers who pay these premiums.

    They are after your address book, your family, your church and business contacts
    to keep the multi level marketing pyramid scheme going…..

    Don’t be a sucker!!!

    Avoid WFG aka World Financial Group like the plaque,

  75. TO Paul N and History8888

    You guys state why WFG is so bad but fact is at least they are offering a solution for people to get out of the hard economic times we are faced today. Fact is people who work for mcdonalds and other corporate companies face harder economic times because the huge difference in payouts between the worker bees and the CEOs of the company.Fact is Social Security is not going to be with us in the near future and pensions are less likely as well. So if a person wants to do WFG they i say let them. However if you have a solution to help people out to make them more income or receive the financial need then write it down. Like they say Money talks Bullshit walks. Its ok if people start from being gardners or whatever people dont grow success over night and they start somewhere. Fact is as many times you write negative things about WFG they are growing by the thousands. from 20k to 40k members and rated top producers in mutiple companies such as Nationwide, Transamerica and ING. Also fact is there are mutiple old people that attend real estate events and other business opportunites because of the fact their jobs didnt give what they promised them which i have seen with my own 2 eyes. So if you want to write something bad then give the readers a solution unless your the ones in the intentions to see people struggle.

    • WFG is fools gold.

      You are selling crap product for some of the worst offenders and money losers on Wall St.

      It is the Amway Insurance company or Herbalife Insurance Company or Nu Skin Insurance company.\

      A few at the top of the pyramid will make money just by recruiting so many people to sell one or two crappy insurance policies.

      The next market correction and people stop paying on those overpriced, overrated insurance policies in name only
      and you will be SOL…..

    • Hi jasper

      Nice to see you are back writing here again. I think we have been through everything already back in January. If you look at my posts 25 ,35,44 and 53 you will see I already covered most of your questions.

      I still particularly liked your comment from January 5th comment 49 above. Something about how you can’t ever lose any money with wfg? Apparently there is a new law many of us weren’t aware of.

      To me you really sound like you could actually be the type of person who would benefit from a few real financial courses and training. You wouldn’t need me to finally make you understand the difference between what’s right and wrong.

      Spend some of that money you are earning from wfg and learn the “solution” as you call it from a third party – maybe a college course? You wouldn’t believe me anyway.

  76. Well bottom line is since last year I have personally witnessed alot of success from the associate side and client side and payouts from both ends for example a woman named Gina got paid 750k because she helped a multi millionaire and she joined in after me and another family who had a father who past way payed out as well from 2 products that he purchased. Secondly Paul n I read your previous post it does seem to give a full solutions on those there seems to have alot of holes in it. Especially for Average Americans. It’s ok you don’t believe or not but looking at other competitors we are way better. For example Farmers insurance they recruit too but gives low percentage to their agents and only sell there products, state farm they have horrible products but is an hourly job which it makes sense to balance the production they make. North western and many others are like wfg they go to friends and family first. Btw we have downside protection on many our products which means when market goes down you are at only 1%. The person who referred me to wfg is the president of Transamerica 8 division and he once thought like you Paul n. I think you need to use your money and look more deep to wfg with an open mind or you can do the poor way (Passing Over Opportunities Repeatedly)

    • You know the other day when I saw History8888’s comment I knew that would bring out a lot of the wfg types to the “rescue”. Frankly I expected more…

      Hi again jasper,

      You don’t have to worry about my financial situation. I’m doing just fine.

      The problem is you have nothing to compare your wfg products too. You have said they are better then other MLM type products. That’s like saying you came in 20th place in a marathon and said you were better then 30th or 40th place.

      Anyone can do better investing with a simple index fund or two then with wfg or primeamerica etc. maybe start by learning about what that is. Go to Vanguards website for example. There are no crazy fees and over the long term anyone can invest simply and easily with a minimum of effort.
      What you don’t understand is you need to absolutely minimize your fees. Your clients need to understand that but it’s a subject that is fought fiercely, to be hidden by the financial industry.

      There are a lot of great books you could read. Just go to Barnes and Nobel or BAM one Saturday go to the investing shelf and sit down for a few hours and relax in a chair there.

      Maybe start with “the investors manifesto” William Bernstein. Or his 4 pillars of investing book.

      Or maybe “all about value investing” there are a series of “All about investing” books. Trouble is some of them are pretty boring. There’s actual real math and thought in them. No ra-ra smoke and mirrors stuff your used to. But it’s pretty straightforward and you can learn the difference between getting “hosed” or what you should expect from investing smartly. Keep away from Jim Cramer’s books and Robert Kyosaki. They are not helpful other then for entertainment.

      Cost you virtually nothing to sit in a book store (while there still are bookstores) with a coffee and read. But jasper, if you do this and take some time to learn more… Even you too will see I’m right.

      Also have a look at this fee calculator and play with it. It’s very simple.

      http://wheredoesallmymoneygo.com/detailed-breakdown-of-the-real-impact-of-mers-on-an-investment-portfolio-over-time/

  77. Jasper, you are better off taking some business courses

    and finding an entrepreneurial activity for yourself or with others that you meet and network with
    that is not an MLM Pyramid Scheme like WFG.

    WFG is “fools gold” for suckers only.

    The guys at the top of the pyramid make money
    because if they can get enough sheep to sell and recruit for them, no matter how crappy the product
    and no matter how bad it is for the customers/consumers then they will make money.

    The people in the middle or at the bottom of the MLM (multi level marketing pyramid scheme)
    become slaves 24/7 on the WFG Plantation.
    They constantly work recruiting and burning out their family and friends and tread water for years
    (many lose money on WFG and other MLM pyramid schemes)…

    I have read online surveys of people working for MLMs and World Financial group
    that show the drop out rate is very high and the average income is very low and the hours put in are very high
    for these type of schemes…

    • HISTORY 8888, learn something.

      I don’t think you really know about what is pyramid and what is multilevel marketing.

      If you make money recruiting, it is multilevel.

      By the way WFG doesn’t make money by recruiting. WfG doesn’t have their own product you dumb assholes. I recently got Index Universal Life. Do you guys even know what kind of product it is?
      Check this out you dumb people.

      http://m.youtube.com/watch?v=9bjzuU_sqWo

      http://www.scotthallgroup.com/

      Watch it 100 times, if you don’t even understand anything from this, read this book
      ” the retirement miracle”

      By the way if you want to google, Google Transamerica, ING, Pacific Life, Prudential, Nationwide, John Hancock, Wfg is offering the services from these companies.

      DUMB PEOPLE, DON’T LISTEN TO NEGATIVES, WORK HARD AND YOU ARE THE ONLY PERSON WHO CAN CHANG YOUR LIFE, NOT THE PEOPLE LOOKING TO DESTROY SOMEONE’S LIFE.

  78. Well history8888 you probably heard this before but when you assume you make an ass of u and me. I have taken business course currently I have a master in business administration. Now I’m working on being a CFA. All can say is I noticed you read any good books lately because if you did you can see how huge this company is. I know for a fact that your reviews you read are outdated. All I have seen is success. Like NY times and nielsen market research says that word of mouth is the best form of advertising. Let me ask you a question how can I deny there is success in WFG when I have seen it my own 2 eyes?

    • You have an MBA and working towards your CFA? I call total BS on that statement. You wouldn’t post what you did if that were even remotely true.

    • I am very educated so don’t BS me.

      • More you are educated, more dumber you become.
        Read the retirement miracle book and you will know more.
        Do you even know what is 401k and how it works or do you still Google it? Or how life insurance works?

        Do you know how long WFG is in the business? Do you sometime wonder, it’s been such a long time for wfg doing business. What is government doing?

        You people think it is pyramid scheme, it is only you who think it is scheme, not the government.

        • @Nancy

          Is that why you hide under several different fake poster names to make yourself sound more legitimate? You really don’t help your case at all. When you write something here try to stick to facts and actual events. No one is attacking you personally, so we would expect the same from you, particularly if you want to be taken seriously at all.

  79. Paul N

    Since you can easily claim that I don’t have which I do. Like I said I got an MBA and now working on my CFA because of WFG I’m doing it. Just so I’m more equipped in the field. I can now easily say as you did that whatever you said is all bunch of BS too. What makes you words more valuable then mine?

  80. Funny thing is whatever history 8888 says is bunch of BS because fact is most wfg associatescreditentailst sell VAR because they don’t have the license that’s required to do so. I personally don’t because I make great money without it. You have to be federally license to sell that if not then you can’t get paid. I have already read alot of investment books already. It’s ok Paul you will never understand because something clearly crawled up there and died. Nevertheless I’m still making great money in WFG and positively changing lives. Last question and ill end with this should I listen to 2 people who I don’t even know their creditenials are or should I listen to the government officials, Robert kiyosaki, Warren buffet, bill gates, and Donald Trump who promotes network marketing.

    • Clearly when you put your fingers on a keyboard nothing but magic comes of it.
      Maybe you should be studying for your “CFA” accreditation instead of misleading everyone here.

      Your deliberately trying to draw posters into meaningless discussions to deflect from the message here.

      Go make your millions. Maybe we will see you and warren on a talk show one night discussing financial strategies.

      • Hey paul, let’s forget about how much you make or how much others are making?
        We know the fact there are lots of people who are MA graduates and are still looking for a job.
        Just give 1 simple reason why people should not do WFG?
        1. Is it because WFG is one of the fastest growing financial industry? Or
        2. While many other companies such as NY life, metlife are cutting down the agents while in WFG agents are increasing.
        Or
        3. You work with some other financial firm and trying make WFG look bad?

        Don’t you know WFG is legitimate business authorized by Government of USA to do Business?

        Go to http://www.bbb.org and look for any other firm not only WFG.

        • “Nancy”
          There are 100 reasons above this post that already answer your first question.
          1 No
          2. can you send a link to a website or graphic that shows that?
          3. No – again read above I explained why. (Many times over) You just do not wish to listen. In fact I would not be surprised if you are just a wfg employee that hides under different names and just trolls around websites to suppress information. You should go into politics with your non – answers

          Your last point doesn’t make it right – I also never claimed it wasn’t legal you need to read who wrote what here and respond to the right person.

          • So if I show you the facts about other companies cutting down the agents, will you shut the fuck off and never start blogging?

    • You toss around famous names like you are making some sort of salad.

      I have read many books and articles by and on all three of the guys you have cited

      Warren Buffet (the real deal)

      Trump( more of a self promoter who gets heavy government subsidies, father was rich and gave him what 40M to get started
      How many times have his companies, casinos and housing developments been in bankruptcy?!)

      Robert Kiyosaki

      (don’t waste your money on his books

      they are for entertainment purposes only and don’t have anything of value for real investors.
      He is one of the many who make most of his money on books, tapes and seminars)…

      Buffet has never endorsed MLMs or pyramid schemes….

      Trump and Kiyosaki will say anything if you just write them a big check to do so….

    • According to my research WFG’s top products are high load, high fees VARs.

    • According to my research

      WFG’s top selling products are high load, high fees VARs.

      • How do you research about the products?
        And again WFG doesn’t have its own product?..
        Do you understand english?

        • You just outted yourself as not knowing what you are talking about

          and not qualified to advise anyone about financial products, their financial future or your company.

          There is a plethora of information written about WFG and its products and practices.

          Its predecessor company faced so many fraud lawsuits and regulatory disciplinary actions
          by they SEC

          that is had to close down, change its name

          and re emerged as WFG..

          US based predecessor WMA, associated with fraud, misrepresentation and false statements, and the subject of class action lawsuits, and National Association of Securities Dealers (NASD) disciplinary actions.

          Some state securities officials, including those in Iowa, Alabama, Missouri, Utah, and Minnesota, have filed lawsuits to bar inappropriate sales practices by World Group Securities (WGS).[48][49] There is also an ongoing investigation of WFG(Canada) by the Manitoba government

          • Are you a financial advisor, who knows everything about what one company offers?
            Or just googling everything?

          • WFG is licensed to sell other companies products.

            Most of the products WFG sells are high load high commission VAR annuity products
            and they have been in serious trouble selling those inappropriate products to Seniors
            and Baby boomers….

            The Courts are booming with lawsuits against WFG and its agents…

      • Winners find the way to win, lovers find the way to lose.

        Losers try to find easy money, winners always work hard to make money.

  81. Guys
    This blog is scam. People wants to make money through blogging and they want more people to come to this blog so that they can have more views.
    Make some blog that can help other individuals not your pocket.

  82. Anything you want to know about any firms, if it good to work with it.

    Research http://www.bbb.org
    It is the Better Business Bureau, regulated by government.

    Don’t fall under the crap words people like Paul or HISTORY8888 or whoever the negatives are.

    It’s your future, work hard to achieve it.

    • You still have nothing of value to say do you? When someone has exhausted their points they go on personal attack like you have here. You have no credibility at all. There is No “future” with your methods.

      • I am just teaching people what they are supposed to do.
        Don’t you agree Better Business Bureau is regulated by government and you can find more information about any company.
        Don’t you think this information can help understand other people where they are getting into?

  83. Well History8888 your research is obviously wrong if you looked up in FINRA.org (Financial Industry Regulatory Authority) NASD Rule 1032, it clearly states to sell VAR you have to have Series 6 which is an advance License for any WFG member which cost at least 1k to take exam if I recall correctly. What do you consider highly educated? Just fyi everything you are saying history8888 are lies and sounds like your what they call a hater. Also if we were a scam why not arrest all of us at the convention we attend to every year for the past 20 years in las vegas. Also Im done talking about how ethical and compliant we are. So I will let these respectable men say for themselves.

    Watch “Tom Donohue, President and CEO, U.S. Chamber of C…” on YouTube
    Tom Donohue, President and CEO, U.S. Chamber of C…: http://youtu.be/mjtL29rsQPE

    Watch “BILL CLINTON RECOMENDS DIRECT SELLING TO WORLD” on YouTube
    BILL CLINTON RECOMENDS DIRECT SELLING TO WORLD: http://youtu.be/HfJ2_cPNHK0

    Watch “Thomas Leary, Former FTC Commissioner, on Direct …” on YouTube
    Thomas Leary, Former FTC Commissioner, on Direct …: http://youtu.be/ldb3Um7UhQQ

    Watch “Dick Chrysler, Former Congressman, on Direct Sell…” on YouTube
    Dick Chrysler, Former Congressman, on Direct Sell…: http://youtu.be/ojCFFYx664I

    Watch “Beverly Baskin, SVP, Council of Better Business B…” on YouTube
    Beverly Baskin, SVP, Council of Better Business B…: http://youtu.be/BUSGh83p1_0

    If you read Warren buffet book The warren buffet way he says it’s best investment he ever made

    Watch “Steve Jobs explains the rules for success” on YouTube
    Steve Jobs explains the rules for success: http://youtu.be/KuNQgln6TL0

    Which goes hand in hand with our success.

    • You do realize that it isn’t so much the direct selling stuff we have a problem with, right? But thanks for the links to all those Youtube videos nobody will watch.

    • @Jasper

      I have been refraining from posting here for a while. What is the point. There has been no points or contributions lately that have been worth reading or following from the “direct selling” products side. I figured i would just let “Nancy” continue to stamp his/her feet until he/she got everything off their chest. No point to debate with the unteachable.

      So….
      I just wasted 5 minutes of my life watching a few of your above “inspirational” 1:30 sec videos. They have zero facts or substance. They are the type off “Ra-Ra” videos you would play to try to motivate people into some kind of recruitment, but they are not specific to really anything? Just a shiny penny to look at. Wow 13 views in 3 months – That has to be some kind of record number of views for you tube. Probably my one view and 12 more by you watching it over and over again.

      Facts please.

    • You are completely taking things out of context and misleading people regarding MLMs
      and pyramid schemes

      that have never been endorsed by Warren Buffet, Steve Jobs, Bill Gates
      or any of the famous people that you cite.

      None of them made their fortunes on MLMs and pyramid schemes

      MLM pyramid schemes have expanded to Asia and Europe only because
      North Americans have become smarter and have rejected the get rich quick schemes
      where 80-%-90% make little or not money and drop out of the WFG MLM pyramid schemes……

      • History8888

        Do you know how long WFG has been in the business?
        Do you know how long Transamerica been in the business?
        Do you know how long Aegon is in the business?

        I am sure you were not even born while this companies started doing business in America.

        Your MLM stuffs or Pyramid Stuffs, keep that to yourself and try to climb the cooperate ladder, while many people who have fortune to go WFG will be building business.

        • Fortunes are made in real businesses and not multi level marketing pyramid schemes.

          The jails and prisons are full of fraudsters who operated multi level marketing pyramid schemes
          like WFG….

  84. @peter

    I will be honest I was hoping you reflect on what you wrote because it seems to me you are being exactly that unteachable and you been stomping on your feet for the past 3 years against wfg without any real research or personal experience. Also here is some statistics that you research on

    There are more people born then die

    Because of technology and medical advancement more people live then die

    Because of those 2 alone eventually the job market will be depleted and many people will be either poor or take the opportunity to become a business owner. Not accounting those who got jobs and secondly another statistics show recently more people get underemployment or no jobs because of the past recession and obamacare. Again you can research that your self. The videos I did place show that direct selling aka MLM aka referral marketing is a better option to do. Also what is a difference from any other life insurance agent then any other one available today? By the way life insurance license is just an umbrella of other products like LTC and annuities. if your talking about our products like I said before all vary depending on the company the client chooses from over 150 product providers which we get taught by those companies. Looking at the market I honestly believe the old saying is true you sell to survive and recruit to retire.

    Also the direct selling has a system to success which is you can’t succeed unless you help others. Which that ideology is great especially knowing direct selling is around the world. According to wfdsa.org there is a total of 58 million and 150 billion in revenue in the past decade which is a 91% increase. You can research that yourself. Just to let you I don’t use those videos to recruit because of the fact how broad it is.

  85. @history8888

    Clearly you are as smart as my left nut is and more cowardly then a stray rabbit hiding behind an alias. Your name itself is more of an embarrassment then of any name much equivalent to a pollock.

    I’m saying that because i have clearly showed everyone who read this post that it’s government approved and recommended. I know you didn’t know this but warren buffet owns Pamper chef. The NBA Orlando Magic team is owned by Richard Davos same guy cofounded Amway. Truth be told any successful person started from somewhere if you don’t believe me read their bios. You said your highly educated high school diploma isn’t considered highly educated fyi. Obviously you don’t have no clue how network marketing works and things you wrote clearly contradicted itself. Please if you have something intelligent to say please say it to redeem yourself. Just fyi I except criticism because all successful people will tell you it will happen if your building any business. I just expected there will be more intelligent ones here

    • @jasper

      You show your great intelligence every time you insult some on this blog. You are obviously desperate to prop up a product which can only be sustained by disingenuous methods of sales.

      You know the old saying “you can put lipstick on a pig, but it’s still a pig”. That’s what you and your buddy “MAN” and all the fake poster names you all hide under do every time you write about your crappy direct sell products.

      Your videos about the world being all puppies and chocolate with 13 total views are a complete joke. They say nothing. Which of course is fitting because you have linked it to a less than worthless product. The ones you are trying to sell. Great job!

      The way you communicate with people I have trouble believing anyone would purchase anything from you even if you gave it away for free.

      Why don’t you do the world a great service and never touch a keyboard again.

    • Clearly you are a fool, a sucker and a fraudster

      who may be going to jail in the future if you keep making clients money disappear…

      Who do you think takes the financial hit after you sell families crappy financial products with terrible returns
      and load on excessive up front junk fees, costs and commissions?!

      It comes out of the customers’ money.
      They find out you sold them crappy policies not worth squat
      and in many cases the customers will have “cash calls” and be asked to come up with more money to even break even…

      You are selling lies and fraud and leaving middle class families in a worse situation
      and misleading them, lying to them and telling them you are building their financial futures.

      What a complete crock of s***!.

  86. Hey guys, please keep complaining about the WFG or MLM or Pyramid stuffs. Many people said a lot of people would not last more than 2 months in this company. Let them talk. We are rapidly growing and we will be helping a lot of families and making a difference in their life. When you look back to those people who were complaining, you can see that they are still where they were 2 years back while many people have changed their life through World Financial Group.

    I am very proud to be part of World Financial Group a Transamerica Company.

    If you want to research, research who you are and what you want to achieve in your life not other people’s view. 100 people will complain about not doing good in WFG while 1000 will say we did great.

    • @”MAN”

      The only person you help is yourself. Your clients are all in a worse position for signing with you. But that’s fine, keep your false belief you have actually helped someone. If your idea of “helping families” consists of making their money disappear CONGRATULATIONS ! You are succeeding!

      • Mr Paul

        You don’t even know what kind of services we provide to people. At least I am helping families better save their hard earned money somewhere where you don’t have any idea about financial products.

        While you keep complaining for the past years, I have been helping families understand what is better plan for their family.

        If you don’t admit, it’s your problem. I am happy when some family is happy. Doesn’t matter if it regarding insurance, investment, college planning or whatever.

        If you don’t know the basics, why would you rather cry like a baby.

        If you want to learn I am sure you have have my email id. It is mlama34@gmail.com

        Be my partner and learn how we help families.

    • False and midleading information again.

      WFG is licensed to sell TransAmerica products
      and they use MLM pyramid scheme methods
      to rip off people with inappropriate products not suited for them
      lousy products that have high fees, high commissions and high load fees
      that rip off the consumer and line the pockets of the fraudsters.

      FBI and SEC will be coming to get you and your friends at WFG

      • Have you ever heard of the companies like ING, Nationwide, Prudentials, John Hancock,etc.

        Now tell me on what basis you called it MLM or pyramid schemes?
        Make it clear so other can understand.
        Do you think if WFG was MLM or Pyramid Schemes, such brand name companies will allow people sell their products?

        Be simple.

        When it comes to the products side, do you have hold the license to talk in details about the products that we offer? If not, make sure you first go and study for license that is provided by government. Make sure you study well, understand what kind of products there are in the whole United States and then compare what you learned and what you have to offer, not only from wfg but also from different financial institutions.

        Anyway you will be running your mouth for next 10, 20 or 100 years but we will still be there. So keep on running your mouth and we will keep on making the difference in families life.

        While you will realize what we talking about, you will be too late…

        • FYI Man

          You do not know what you are talking about.

          WFG is the successor company to World Marketing Alliance
          (that had so many complaints with the SEC and lawsuits that it had to close
          down and change its name to WFG)

          The people who founded this series of companies were also involved in Primamerica
          and also AL Williams co,

          WFG is licensed as a vendor to sell insurance products.
          Getting a license to sell insurance does not make you qualified to advise families
          on their financial futures. It just gives you a license to sell insurance.

          Many people hawking insurance with WFG have zero financial planning training, but they tell you otherwise.

          Posting “talking points” answers to inquiries and discussions on this forum
          just confirms that you do not know what you are talking about and are poorly trained in financial services
          if any training at all.
          Most WFG “training” is how to recruit people for the MLM pyramid scheme
          and nothing about the products or suitability for particular clients..

  87. @ Man

    Running my mouth? Clearly all you and your made up poster names do is say the same thing over and over.

    Throw out a few names of companies talk about 150 different products all of which are too expensive and have poor returns, and talk about a license that any brain dead person could get like it means something. The tin man could sell your sorry products.

    Problem is you don’t even know what it is your selling yourself. You just see $ signs and know if you can rip as many people off as you can you will have a few more of them.

    Why are you even posting here? It’s Sunday shouldn’t you be pitching some people at church or a backyard birthday? May go to a distant cousin and sell them your amazing products and make them poorer?

    • Hey Paul, I see you have problems with my name.

      Let’s not talk about name, let’s talk about how you are helping others better understand what you saying.

      If you know better product, why don’t you share with us so that I also have chance to learn something so that if i am not doing good for families with our products, I would love to get the products that can help better.

      • Like I said you all keep repeating the same thing over and over. The question you asked has already been answered in the above posts. You only need to look but you are brainwashed and don’t believe any other view.

        I don’t have a problem with your name. However when the same person posts under 3 or 4 different fake names trying to make believe they are someone else you lose all your credibility.

  88. Man what color is your team are you wearing mine is green. I can’t wait for a bigger wave :)

    Watch “2013 wfg convention – wave” on YouTube
    2013 wfg convention – wave: http://youtu.be/HrozlxlPTUs

    Never mind what Paul n and history8888 they probably same people anyway. If they want to play stupid let them. For all we know Paul n is in a company that is a Ponzi scheme versus our reputable and solvent companies.

    • I am green too. This year will be more dominating than last year.
      Last year went to Vegas as an associate, this year going there with 3 new MD’s under me.

      If I had listen to the crap like everyone else been doing for the last couple of years I would be working as a cashier till now.
      Anyway I was skeptical more than these guys in the beginning, because I was scammed many times when I came here in USA in 2008. So didn’t want to hear anything.

      Later went to study for license and Vegas changed everything. Let people keep complaining, sooner in the future they will realize what they missed for past years.

  89. Nice man and from what I’m hearing this be the last year we will go to las vegas we will be using a football stadium next year because there are so many people will be in this company. :)

    • That’s great guys. At what time does your leader Jim Jones serve the cool aid? Now that’s a video more then 10 people would watch!

  90. Lol call the hater police we have a hater on the loose his name is Paul N

    Haters stands for Have Anger Toward Everyone Receiving Success

    • Wow how original, you and you imaginary friends.

      It’s interesting you stopped talking about your bad wfg products. I figured you would be out today selling a 30 year locked in annuity to an 80 year old widow (she can’t access until she’s is 110) so you can make some fast cash.

      You should become a politician. You make lots of promises, talk a lot, but never actually come up with anything of value.

      Why don’t you detail how you help the average person out? Disclose your fees. Tell us all your amazing process to qualify a client and put them in suitable funds.

      Oh I forgot. You don’t know how to do that do you. Not do you want to disclose that so everyone can plainly see how bad your products are.

  91. I never thought of that before and it won’t be something I would do. however it makes me wary sounds like something you will do. However according to finance disclosure laws I’m not at liberty to tell you any of our products online however you can find more information to your closest WFG agent ;) btw I don’t sell a product I don’t use.

    • I find it odd you talk about everything except the most important thing… The product you are trying to market. What are you trying to hide?

    • i dont see why you cannot talk about a product..

      I enjoyed WFG’s main goal.. what i didnt enjoy is its people (they give you no info what so ever.)

  92. Absolutely nothing like I said earlier it’s illegal to say details in one product according to sec and finra and how can any agent in the world say what product has when you don’t specify that’s like telling a car dealer get me a car and not mention a color, model, size. Btw what do you consider a good product to specify a permanent life insurance policy or a college fund what does your company have

  93. If anyone commenting here wants to know more information regarding the products or wants to change career in the financial institutions, please feel free to contact me at (redacted)

    I live in Queens, NY.

    Thank you.

    Let’s help more families understand the concept of their finances for their future and work together.

    Negatives will kill you so try to avoid negative people.

    Edit: No free advertising on my blog. I’m fine with the rah! rah! WFG is awesome! general stuff, even though I disagree with it. But I draw the line there.

    • You could contact one of these two people yes or you could simply flush your money down a toilet. The toilet would be faster. The other way would be more painful watching it slowly disappear. .

      Be smart. If your starting out learn to index invest. It will take you an hour to do so. It’s so simple, take control of your own money. Don’t be “controlled”.

      You will get far better returns then with any direct selling product. While your investing on your own you can learn as you go and train yourself. If you read 2 or 3 simple books on investing you will know far more then these people. It’s too late for them but not for others.

  94. So basically your saying you are not going to promote your company or product I figured that. I wouldn’t neither if it was in a Ponzi scheme.

    Again what company do you work for Paul N?

    • Like I said you should be a politician. How exactly did you come to those ridiculous conclusions? An index fund is a ponzi scheme. That really shows your total lack of financial knowledge.It also just proves your lying continuously.

      Your comments + questions continue to make no sense and you show your desperation by lying and writing doublespeak. It’s the only way you seem to be able to promote your products. You can’t speak specifically about your products. I’m not actually selling anything, I only offer good solid advice. Unfortunately since your wfg products are so poor in value for most people these ridiculous things you write are your only form of advertising. I guess you have to try to hijack common sense whenever you can.

      For once try to say something of some value. Is this your only job at wfg simply trying to keep up with all the millions of people writing truth about a bad product and spamming the dialog?

  95. Mr Paul

    You have no clue what you talking about.
    Do you have any knowledge about any other financial products. Let’s not focus on Index products, tell us what other products do you know.

    If you don’t know what kind of products are there in the market, it’s us less talking to you because you have sense of humor.
    You think you are the best and you know everything in reality you don’t have any clue about any other products that can work for you.
    That’s why you need to get the license, study hard for the license and also learn about so many products out there in the market. Not only Index.
    Let us know if you have any investment products that are good for other people, may be I can learn from you and also be like you.
    I know you think we are doing bad, so teach us mr PAUL the best solution you can provide for other families.
    If you can not, don’t bother writing back I will understand you are bunch of losers.

    • I guess you just cut and past your answers from an archive…

      • So you have no answers for my questions?? Hmm why not because you don’t know what you want in you life.
        You don’t know what you need when you retire.
        You don’t know how and where to save money for your kids education.
        If you don’t know anything, how can you teach others regarding other people’s financial needs.

  96. […] bloggers have gone after quasi-pyramid schemes like World Financial Group and Primerica – financial services companies who seem to make more money recruiting others […]

  97. Heya i am for the primary time here. I came across this board and I in finding It truly useful &
    it helped me out a lot. I am hoping to present something again and
    help others like you helped me.

  98. I was approached by a family friend (whom I don’t know all that well) at a party. She asked me in a hush manner, “Can I talk to you about something?” I thought something was wrong. She pulled out a laptop, so then I thought maybe she was going to ask me to fix something on it. Finally a powerpoint screen and a verbal presentation. By the third powerpoint slide, having saw no evidence of an actual product I knew exactly what this sales pitch was. About 15 – 20 minutes in, it became quite apparent to her that I knew more about the stuff she was talking about than she did.

    I have looked into these “investment vehicles” that are offered through WFG / Transamerica / Aegon or whoever is ballsy enough to attach their names to this. Why would you pay a(n often inexperienced/undereducated) middleman for annuities and insurance that you can get directly from actual companies themselves? It’s a borderline, skirt-the-law MLM pyramid scheme.

    It’s funny… if you go to WFG’s website and click on the little “Complaint Handling” link on the bottom, it only assists Canadians. Who would have guessed they had more stringent laws against this sort of thing?

  99. It’s rough to take in when other don’t respect your job. It doesn’t matter cleaner, butcher, or deliveryman we our society need them, so please respect other occupation. You can’t walk into cleaner and say your job is like slave, your boss make you work like horse with little pay since he make thousands of dollars from each contract. Don’t tell the butcher that you’re killing the cattle is one of the most disgusting job on this planet because they’re doing it for everyone to have food for survive. Don’t tell the deliveryman that your job like shiit driving back and forth every day because they do that job so everyone has their items deliver every day. If you’re a highly educated person, lawyer or doctor please respect other professions out there.

  100. I think WFG is part of the “underbelly” of the New World Order…they prey on people who struggle financially by promising them $$$ and a bright future. It’s a few “shady and mysterious” guys at the top of the chain who want to gain control of the masses. They create the economic crashes then smile like Cheshire Cats to con the people to move out of fear into trusting them with all their livelihood. Pretty soon, they are in control of individuals, towns, nations, and then ??? What the heck ever happened to saving your money inside a sock? …Don’t you know that the LOVE OF MONEY IS THE ROOT OF ALL EVIL?!?!?!

    • Let be honest. Your money in a sock will not have the same value in 30 years as it does now- It’s called inflation. It’s sad to see people having no problem putting all there hard earn money in the bank and earn less than 1% but when they go get a loan, it’s 15%. It’s just as sad that people don’t now at the current inflation rate of approx 4% every year, if they can’t get 4% return on there investment after tax then they are loosing money. As with every company, there is the good seed and the bad ones. The is why WFG have independent agents. They get individually sued for there bad behavior and not the company as a whole. If you went into a Apple store and one of their associate is an ignorant fool, would you consider the whole company ignorant?

  101. One more thing. Everyone who is working for someone else is working in a pyramid “scheme”. You and most of the people are at the bottom of the totem pool. Your supervisors (which are less in numbers than the regular workers) are above them. The yet fewer managers are above them. The even fewer district manager are above them. So eventually have one to two people at the top. Looks like a pyramid to me. If you can visualize this, then this is why you are at the very bottom. Good Luck

    • @LBH

      Your analogy is incorrect. A business only hires to fill a position if the present number of staff is not sufficient to process the work on hand. So a position is created. This can also work the other way if there is not enough work, people are laid off or let go.

      With an MLM model there is constant churning of “recruits”. They are also not really employee’s. They have their little ra-ra conventions, they recruit as many warm bodies that can breathe vapor onto a mirror with the hope that every so often they get the type of person they are looking for that fits their sell model. Most “recruits” wind up losing money and falling by the wayside.

      Sorry your comparison is a fantasy.

      • YOU ONLY HAVE SEEN MLM MODEL, WHERE PEOPLE RECRUIT AND MAKE MONEY THROUGH RECRUIT. THEY DON’T NEED TO HAVE A LICENSE FROM THE GOVERNMENT. THEY ARE NOT LEGITIMATE. BUT STILL THEY ARE DOING GREAT IN WHAT THEY DO, BECAUSE THEY DON’T WORRY ABOUT CRAPPY PEOPLE AND THEIR WAY OF THINKING.

        WITH SOME BUSINESS, THEY HIRE PEOPLE, BUT STILL THEY ARE RECRUITING PEOPLE, ARMY RECRUIT PEOPLE, REALS ESTATE RECRUIT PEOPLE. THERE’S NOTHING WRONG ABOUT RECRUITING PEOPLE.
        PEOPLE COME AND GO, WITH ANY COMPANY, PEOPLE GET HIRED AND THEY FIRE THEMSELVES TOO. WHY?? BECAUSE THEY MANY OF THEM DON’T LIKE WHAT THEY DO OR MAY BE GOT SOME BETTER OPPORTUNITIES.

        YOU ASK YOURSELF, HOW MANY TIMES YOU CHANGED YOUR JOB? HOW MANY TIMES WERE YOU RECRUITED BY SOME COMPANIES OUT THERE. WELL I AM NOT TALKING ABOUT MLM COMPANIES.

        HOW ABOUT YOU ELABORATE THE FRANCHISE BUSINESS? IS THIS RELATED TO MLM?

  102. Wow. A very interesting thread. I have enjoyed comments from both sides. I actually joined WFG a couple of weeks ago and I could probably easily recruit A number of people without difficulty but I have to question at what expense. I believe many people are lured into this business with the thought of becoming rich. Sure that sounds great. And hey I am game to lose a hundred bucks or so and listen to the spill but in the end I would not be able to proceed without doing my own due diligence. Currently I am making over 250k a year but working my butt off so I guess here are some questions everyone should ask before diving into such a program/ business or whatever you would like to call it
    1. What is your cut on each product and are you willing to offer a client an inferior product so you get a larger commission (I am definitely not)
    2. What are the fees to the customer? Of course there are fees with everything but are they exorbitantly higher so you can make money? If so are you providing a disservice to your customer/family/friend? (I personally wouldn’t be able to sleep at night)
    3. Do most of these associates really know the products they are selling? (I again personally would not feel comfortable selling a product without knowing it backwards and forwards as again you are dealing with people’s hard earned money)
    Bottom line is this….. It is really hard to make money without money. Of course it is possible but very very difficult. I was intrigued with this as I have assisted in the set up with retirement plans with my parents multimillion dollar company and I have helped set up multiple accounts in the past regarding retirement and college plans etc. and brush elbows with people that have money all the time and am respected by them. So if I can help some people make some money and make some at the same time then it is a win win. Right now I am helping people get an almost guaranteed 20-40% return on their money but that will only work while our real estate market is booming in my area. And of course I am only able to do it with big peoples money to support the buy,development,and sale. Anyways, just looking at WFG as another source of income and most of all to help out some friends. But not so sure that will work out. There is no magic bullet to all of a sudden become independently wealthy. Everything takes hard work but I do encourage others to look at other avenues other than 9-5 jobs to accomplish their dreams and financial independence. I also encourage everyone to review the products, their fees, and their true benefits to the client and make sure it is truly something you can stand behind.
    I will review the products and their fees now and would suggest everyone do the same and ignore the hype presented by the speakers and some of the uplines. Rely on facts
    Good luck to everyone

    • If you are currently making 250K+ with your present clients, then you are doing well.

      Google WFG Fraud and see what you find: hundreds of thousands and millions of hits from unhappy people
      who were given the bait and switch routine, sell their clients lousy products, risk lawsuits and loss of reputation etc…

      Do you really want to risk your hard earned reputation with this company?!

      WFG targets agents and clients who are not very educated, those who can barely speak english(immigrants) and those who would not qualify to sell insurance products with any reputable firm…

      If you ever go to their meetings or rallies (it reminds me of a southern religious revival meeting
      for those con TV preachers).
      They never talk about the products they are selling.
      They always talk about recruiting more and more people to make themselves rich.
      It is a “one size fits all” deal of high load, high fees VARs” that
      are not the right product for most people aged 40 and higher
      (since they cannot touch their money for 20-25+ years..)…

      It is marketed almost like a religious cult.
      They have their talking points and catch phrases that
      corporate sends down to all offices and all reps.
      Any questions about their products and you get loosy goosy answers
      that sound like talking points and canned answers that have nothing to do with your questions.

      I have seen WFG, like religious cults, tear families apart.
      You are either with them or you are the enemy.
      There is no middle ground with this glassy eyed group
      or programmed robots..

      I even witnessed with my own eyes a couple of WFG programmed robots
      trying to “work a family funeral”
      and hustle the mourners….enough to make you throw up….

      Most of the Reps I have met with WFG, I would not buy a car from much less trust them with my family’s finances.

      Do not move or transfer your parents wealthy retirement plans to WFG.
      You will be sorry if you do.

      There are many other, more honest and more ethical ways to make your fortune.

      If you want to sleep at night with a clear conscience, then steer clear of WFG.

      Oh and another thing, WFG has such a bad reputation in the industry and with the public
      that some of their reps call themselves reps for TransAmerica Financial Services
      which is a bald faced lie…..
      They are licensed to sell TransAmerica and other third party vendors’ products.
      They do not work for TransAmerica or any of those vendors…

      • Thanks. I have actually invested today to research this company and am really having problems finding anything on their products. I did not go to any presentation etc (my good friend did and of course was pumped up about it) but instead met at a mcdonalds as they thought I had my four year old with me to discuss the details. I was bombarded with compliments that I was tired of listening to and my real questions were not answered about the actual products. They showed me they made 25k last month which was pretty good for not being completely able to communicate in English. I would like to clear up the over 250k thing. I work full time as an icu rn and on the side with engineers on infrastructure which helps my parents company and recently spun off a local corporation. Also on the side have done flipping and developing and have been able to make my family and friends money on this with exceptionally good returns. I make nothing except a percentage of what I invest. Of course I am looking to have flexibility like everyone else and make a good return off of what is so important – my time
        With all this being said, my reputation is very important to me and if I can’t find good data with supporting facts including products with low fees from this organization then I am just not interested. I had hoped this organization would help out some of my friends that just don’t have money to invest in real estate or other tangible ventures but it seems less and less likely
        I absolutely refuse to be a crook like many are in various sales positions. It has to be a win-win

        Do you have a link for any of their products? Or would I have to get from an associate at some random drawn out meeting?

      • WFG IS A LEGITIMATE BUSINESS. WE ARE WORKING WITH THE COMPANIES WITH THE HISTORY OF OVER 100 YEARS. ONE OF THE FASTEST GROWING INDUSTRY IN THE WHOLE NATION. BE PART OF IT AND YOU WILL BE THERE TO MAKE A DIFFERENCE IN ONE’S LIFE.

        MOST OF THE IMMIGRANTS AND UNEDUCATED PEOPLE ARE THE ONE WHO ARE REALLY SUCCESSFUL IN THIS BUSINESS. THOSE WHO ARE REALLY HAPPY WITH WHAT THEY HAVE THEY DON’T HAVE TO WORRY ABOUT THE OPPORTUNITIES THAT WFG OR TRANSAMERICA OFFER. THERE ARE LOTS OF OTHER OPPORTUNITIES OUT THERE. WHY YOU GUYS LIMIT YOURSELF IN ONE PARTICULAR STUFFS.

        I AM VERY PROUD TO BE A PART OF WFG AND WHAT WE DO TO THE PEOPLE. THOSE WHO LISTENS ARE THE ONE WHO ARE BECOMING SUCCESSFUL. THOSE WHO COMPLAIN AND HAVE LOTS OF EGO, YOU DON’T HAVE TO WRITE NONSENSE ABOUT ANYTHING THAT WE DO.

        IF YOU DON’T FEEL COMFORTABLE WITH THE SERVICES WE OFFER, YOU CAN ALWAYS TALK TO YOUR LAWYER AND MAKE SURE YOU BRING YOUR LAWYER AND SIT DOWN WITH THE WFG ASSOCIATES ABOUT WHAT THEY OFFER.

        WORK HARD AND BECOME FINANCIALLY INDEPENDENT.

  103. History 8888. Tell you what. I will go and meet with one of these associates or whatever you would like to call them and find out what funds and plans they are actually marketing. At that point we can honestly dissect rates of returns and fees as compared to similar products offered by vanguard,fidelity, American funds etc with some having fees as low as 0.2 % with the average over 1%
    I am not interested in paying hefty fees on a product especially since I know that I have a sweet spot now making incredible returns at 0 managing fees. I am looking to hedge some of my money on something I don’t have to worry about but I refuse to try to sell a product that truly doesn’t benefit someone. I always have an open mind but won’t be sold on pipe dreams from others. I will see what they say at our lunch tomorrow

  104. WFG IS A LEGITIMATE BUSINESS. WE ARE WORKING WITH THE COMPANIES WITH THE HISTORY OF OVER 100 YEARS. ONE OF THE FASTEST GROWING INDUSTRY IN THE WHOLE NATION. BE PART OF IT AND YOU WILL BE THERE TO MAKE A DIFFERENCE IN ONE’S LIFE.

    MOST OF THE IMMIGRANTS AND UNEDUCATED PEOPLE ARE THE ONE WHO ARE REALLY SUCCESSFUL IN THIS BUSINESS. THOSE WHO ARE REALLY HAPPY WITH WHAT THEY HAVE THEY DON’T HAVE TO WORRY ABOUT THE OPPORTUNITIES THAT WFG OR TRANSAMERICA OFFER. THERE ARE LOTS OF OTHER OPPORTUNITIES OUT THERE. WHY YOU GUYS LIMIT YOURSELF IN ONE PARTICULAR STUFFS.

    I AM VERY PROUD TO BE A PART OF WFG AND WHAT WE DO TO THE PEOPLE. THOSE WHO LISTENS ARE THE ONE WHO ARE BECOMING SUCCESSFUL. THOSE WHO COMPLAIN AND HAVE LOTS OF EGO, YOU DON’T HAVE TO WRITE NONSENSE ABOUT ANYTHING THAT WE DO.

    IF YOU DON’T FEEL COMFORTABLE WITH THE SERVICES WE OFFER, YOU CAN ALWAYS TALK TO YOUR LAWYER AND MAKE SURE YOU BRING YOUR LAWYER AND SIT DOWN WITH THE WFG ASSOCIATES ABOUT WHAT THEY OFFER.

    WORK HARD AND BECOME FINANCIALLY INDEPENDENT.

    • @MAN

      I think your caps lock key is stuck. You should get that checked.

      • @PAUL

        I THINK YOU SHOULD NOT WORRY ABOUT MY CAPS LOCK. I SEE YOUR BLOG IS GETTING A LOT OF TRAFFIC, YOU MOST BE MAKING SOMEONE’S GOOD MONEY OUT THERE. I HAVE SEEN A LOT OF DIFFERENCE WHEN I FIRST VISIT YOUR BLOG AND THEN TODAY IS TOTALLY DIFFERENT.

      • WHEN ANY PEOPLE BECOMES SUCCESSFUL OR ANY COMPANY IS DOING GREAT COMPARED TO OTHER COMPANIES, THERE ARE MANY PEOPLE, WHO WANT CREATE BAD IMAGE OF OTHER COMPANY.
        WFG IS ONE OF THEM. THERE ARE PEOPLE TALKING NEGATIVES ABOUT IT, BECAUSE IT IS ONE OF GREAT COMPANIES. WHY PEOPLE CAN NOT WORK WITH WFG BECAUSE THEY THINK THEY HAVE THEIR OWN WAY OF WORKING. WFG HAS ITS OWN SYSTEM, EITHER YOU FOLLOW IT OR NOT.
        CAN MCDONALD’S OWNER SALE CHINESE FOOD IN MCDONALDS? OR CAN HE MAKE HIS OWN BURGER AND SALE? I AM SURE THEY WILL FOLLOW THEIR OWN RULES AND REGULATIONS.
        OR
        WHEN YOU START YOUR NEW JOB, YOU CAN NOT SAY YOU KNOW EVERYTHING. YOU ARE A TRAINEE WHILE YOU ARE NEW AND EVENTUALLY YOU WILL BE ONE TEACHING OTHERS.

        • @MAN

          Your logic has more holes in it than a old paper target at a gun range.

          The first part of your post your generalizing that people in general want to say negative things about successful companies. The people posting here had negative live personal real life experiences, they are sharing that. They aren’t targeting WFG because they are in your opinion “successful”. That’s just something you once again are making up, instead of addressing the “real” concerns people are bringing up.

          People can’t follow the WFG system because most people don’t want to run around recruiting other people. In order to make larger sums of money that’s what they have to do. Then in turn they realize WFG for what it really is. If WFG wouldn’t relentlessly recruit it would fail very quickly.

          Lastly you try to use a structured company like McDonald’s as a comparison to WFG. They are completely different business models. A new employee at a McDonald’s knows what to expect. That new employee at McDonald’s would not be expected to turn around and start hiring more new recruits the second he accepts the position at McDonald’s. He has a job, he will know exactly how much he/she makes every week, and it’s up to that person to stay, go, maybe work a little harder and be promoted to another position at some point. Not even close man.

  105. Hello Man
    I am just trying to educate myself before jumping into anything and before bringing anyone else into this. I don’t feel I need a lawyer for anything…. just information. I am meeting with a senior marketing director which is a good friend of mine tomorrow and I told her I needed information and details about products before I can agree to anything. She is a business partner with me on some developing projects and is really just trying to accumulate more money for these projects. This system really isn’t about me… it is about helping her and others that need some help making some more money in their life. I am fine with making a few dollars but I really just need to know the product. I don’t need all the hoopla and all that. I want the nuts and bolts. I know many that have been eaten up with costs and fees from Edward jones and such on stock picks that the people are choosing themselves. I have set these people up with scotttrade accounts and instructed them about limit orders and such to cut out the middle man. Look I am all for helping people and getting a small percentage of that cost of the business as long as it truly benefits the customer. And I have never limited myself in what I can do in life. So I will go to my meeting tomorrow and see what information I receive. I am not trying to be difficult or a hard sell but am just wanting some facts. That’s it. I am glad you are doing well and wish you luck on your endeavors.

    • @Christie
      Good luck with that.
      When you try to make sense of this you activate their defense mechanism. They will spam your posts here and attack you with nonsensical replies. On the flip side I am interested in hearing your experience and findings. I’m sure more people will also like a good firsthand honest review.

      • Paul,
        Will let you know so we can try to obtain an unbiased perspective. Appreciate your reflection on the organization. It is important to answer pertinent questions you pose before handling peoples money, time and career choices or steering them in any direction without any discretion. My friend is ready to quit her six figure job already after attending meetings over the weekend and she just started up with the company again (she is currently making $0.00 and is a senior marketing director) so I am just trying to be reasonable and not rash with decisions. I am not trying to bash the company in any way as I truly don’t know enough information to formulate any type of opinion. I do know that there are many other avenues to make money with other than mlm and I have never been fond of this type of “opportunity” in my life but I am always willing to listen to others and make my INFORMED decision from there. I do believe my friend (senior marketing director) when she said she was making six figures long ago with this company as she is an honest person who I have known for years. The details of why she left I believe haven’t been fully disclosed but I have my own opinion of this and will ask tomorrow. I wish you luck and again appreciate your healthy discussion on this topic.

        • Christie

          Good Luck in your search.

          Just be made aware that WFG is a multi level marketing pyramid scheme.

          Some people make money at these schemes…
          Those who start the scheme and/or get in early and /or
          get hundreds of people working under them who are productively selling product.. No matter how bad it is for the clients.
          80-90% of the people wash out after surrendering their complete contacts list to be harassed and plowed through and high pressured.

          If 10% make it, then you would need to go through at least 1000 recruits or many more to get your at least 10%
          Producing recruits under you in your down line to succeed in this scheme
          or 100 people under you

          If you value your reputation and your valuable contacts then this could be a terrible move that could undermine your other businesses.

          Also, WFG is not a part time job..
          It is a full time 24/7 job
          that could suck the time and life out of your other income producing businesses…

          I have known people who were in retirement with very nice portfolios who relied on their generous retirement benefits to live who were approached by glassy eyed WFG Rep’s
          to transfer their investments to WFG..
          with high loads, high fees, much worse returns..and the stipulation that once they put their money in they cannot touch it for 25 years?!
          This is common practice with WFG.
          Many lawsuits against WFG and it’s Reps.
          Their primary motivation is commissions and fees for themselves and the client comes in last in their list of piorities..

          These VARS that they have been pushing are fools gold that have been panned by most astute financial experts.

          WFG was also aggressively pushing the. 1% negative Amortization Option Arm mortgages before that market collapsed and caused millions of people to lose their homes…
          Be very careful and make the right decision for you and your family.

          • “WFG was also aggressively pushing the. 1% negative Amortization Option Arm mortgages before that market collapsed and caused millions of people to lose their homes…”

            This I believe is why my friend originally got out of WFG….. this left a bad taste in her mouth and some sleepless nights when one of the customers told her that she had lost everything so she walked away and gave up all her clients she still had. There were many lawsuits tied to this and not something they still do but it should make you at least a little wary.

            Honestly there are so many negative stigma’s about the company it would be difficult for me to say that I work for them (and I just started researching this yesterday). I would never push a product on someone as that isn’t my style. I grow relationships and have obtained the trust of a number of people. I would never jeapordize that for a few bucks. I will look at the products but have no interest in going to big meetings nor throwing in a number of my friends.

            We will see

        • Hi Christie,

          I have read through all your eloquent comments, on this one you mention someone that “is ready to walk away from a 6 figure job after attending a few meetings with wfg?”. I would have to say that I would be very skeptical of that. If you have an existing well paying job and you attend a few ra-ra meetings and your now ready to go recruit + sign up people at weddings, parties, funerals, “get together’s” for no guaranteed wage or income, you need to think that through a little more. That is a real step down…

          Secondly if you are making $250K/year why would you not simply get your securities and fund licenses and consider opening your own Edward Jones or Investor’s group franchise. If you want to be even more responsible with your client’s money become a “fee-only” planner and you can sign people up to any companies products and you can charge people only 1/2 % commission (whatever you want to). Advertise yourself as such. Also If your creating that kind of income stream for yourself per year, your business and your personal investing possibilities are endless. I would also say why take on something else, you really don’t need to? You really don’t need to explore this avenue to make more money with the money you are making. Live off half of what you earn and invest the rest in quality individul securities, you will be set for life in a few short years.

          • Paul,
            Yes pretty ridiculous to quit your six figure job when you are just getting started again. It is kind of laughable actually and she is actually trying to take fmla to work the business full time while still keeping her job for now. She has a good thing going with developing but doesn’t have a ton of cash and well of course she wants to get out of her full time job quickly. Again, there is no magic bullet nor get rich quick schemes to allow you to quit immediately. And it is true most businesses fail and it isn’t easy to start up a new business. It is true that franchises are more successful but at a cost typically.
            You are probably right about an investor’s group franchise, however my time is severely limited and this would be time consuming. I have been extremely fortunate in my life as I am surrounded by successful people (parents and in laws) and they have given me opportunities that many others just don’t have. I take nothing for granted and appreciate every bit of help I have received along the way. So I have been able to tap into a growing and successful business that I had wanted to quit the first year I started it (now on year 3) and have grown my flipping into developing for even more profits that have helped everyone that has invested make some really good money. I guess WFG was never really for me but a possible angle to help some of my really hard working friends that just can’t seem to get ahead in life make some money as they don’t have much money to invest in some of the lucrative real estate deals.
            So in the end, I will have to see what opportunity is out there for some of my friends who need some help.
            Thank you
            .

  106. Kristie

    I would say my best suggestion but you already mentioned it. I used to do wfg but i quit because it’s not my passion to sell financial products. To me network marketing is the best thing out there. Especially how the economy is now and where it’s going. A lot times I was told it is a pyramid scheme however I had down lines that made more money then me. I understand why they call it that because generally ignorant people categorize what they have no clue about. For example how in the past how white racist categorize all nonwhite as colored. Or how a year ago my daughter called any animal she sees as dog. Some people don’t do it because of the stigma alone however what is a good business. I see on news at least twice an year that either some cop killed someone, or a lawyer allowed some pedophile free, or some doctor ruined someone life, earlier I saw how the news misconstrued a 5 years old from wanting to be cop to be killer on a interview. I can go on and on for any industry. Also let factor the economy there is baby boomers and echo boomers that makes majority of the population then factor the health care and technology development would obviously make jobs difficult in near future. Then if you do gets jobs then I have another concern what about pension smoothing and how social security would be obsolete so when can you retire. Most likely with this plan you will work till you die or face struggle. So that why I say network marketing isn’t perfect but it is the best thing out there. By the way most people 401k plan is less then 1k according to labor of bureau. By the way a lot companies are looking into P4P (payed for performance) just because it’s provides less risk to company and gives higher probability in solvency. Also according to wfg disclosure report average senior marketing director makes 45k to 100k+. By the way Metlife laidoff a 3rd of their employees and they have dental coverages contracted to the military. If you like to know where I get my information I don’t mind sending you my references.

  107. I don’t blame the people who they think they run their own independent business and dream that they’ll be rich within a short period of time, but they’re not. The WFG system uses them right at the beginning. When the new recruiters joined, their system already force them to purchase their products, and then like other already stated their relatives, family, and friends next. If their system is honest they shouldn’t force them at the beginning to purchase their product, and have them list 25 names so they will go with them to talk to those people. If their product is good, it automatically has the customers find them to purchase their product. They do not need to keep recruit and recruit more and more people to bring in clients. When we see a system that keep recruit the new people, there is a red flag tells us there is a high turnover. I understand every business need to hire more people, but not all the time. Their system lies that the business doing very well, so they need to keep hire new people. That’s a fool. Who wouldn’t want to have all the commission for themselves? Why should they want to bring in the new recruiter? There is only one reason is the new recruiters and their friends and families are buying their products.

    Their system said that you’re on your own business, but why you need to be promoted by their system up to trainer, and then higher rank? And there is a requirement to get promoting! Aren’t they run their own business? Everyone who represents for WFG say they don’t have boss right? Then why those ranks need to be existed? Their system is not honest at the first place, so how do they expect their people to be honest to their clients? No honesty who would trust the system to handling the clients hard work money?

    To be honest why would we want to invest our moneys for 10 to 25 years later to get the benefit. No one can guarantee what will happen to our moneys by the time it reaches to the term end. Why not invest now into purchase a condo, or a house and 25 yrs later we have a real assess. Why not open a business, be our own boss sounds more realistic than handle our moneys to WFG or other banks and investment companies.

    I don’t blame the people who they think they’re their own boss and keep trying to bring in the client for WFG. The one who created its system is so evil. They were told they can make 50k a month. That’s a bait. The system can bait their own people, do they be honest to their clients? It’s a big NO NO.

  108. I don’t blame the people who they think they run their own independent business and dream that they’ll be rich within a short period of time, but they’re not. The WFG system uses them right at the beginning. When the new recruiters joined, their system already force them to purchase their products, and then like other ppl already stated their relatives, family, and friends next. If their system is honest they shouldn’t force them at the beginning to purchase their product, and have them list 25 names so they will go with them to talk to those people. If their product is good, it automatically has the customers find them to purchase their product. They do not need to keep recruit and recruit more and more people to bring in clients. When we see a system that keep recruit the new people, there is a red flag tells us there is a high turnover. I understand every business need to hire more people, but not all the time. Their system lies that the business doing very well, so they need to keep hire new people. That’s a fool. Who wouldn’t want to have all the commission for themselves? Why should they want to bring in the new recruiter? There is only one reason is the new recruiters and their friends and families are buying their products.

    Their system said that you’re on your own business, but why you need to be promoted by their system up to trainer, and then higher rank? And there is a requirement to get promoting! Aren’t they run their own business? Everyone who represents for WFG say they don’t have boss right? Then why those ranks need to be existed? Their system is not honest at the first place, so how do they expect their people to be honest to their clients? No honesty who would trust the system to handling the clients hard work money?

    To be honest why would we want to invest our moneys for 10 to 25 years later to get the benefit. No one can guarantee what will happen to our moneys by the time it reaches to the term end. Why not invest now into purchase a condo, or a house and 25 yrs later we have a real assess. Why not open a business, be our own boss sounds more realistic than handle our moneys to WFG or other banks and investment companies.

    I don’t blame the people who they think they’re their own boss and keep trying to bring in the client for WFG. The one who created its system is so evil. They were told they can make 50k a month. That’s a bait. The system can bait their own people, do they be honest to their clients? It’s a big NO NO.

  109. Well drunkai I understand your point of view but here a few things your missing 1 according to SBA 97% of home start up business fail 97% of franchise succeed. Whether you work a job or do franchise or any network marketing company it’s for the company. Well for a job your getting hired for whole sale then your services for retail. If you do anybody business who would you tell first your family or strangers. The system is the most fairest system I have seen thus far if you know of a business that you can get in free and get full commission please let me know I’ll put my money on it. E
    2) you mentioned why invest 10 to 25 years to get benefits rather then do retail well why do people fund 401k and forced to get term insurance when the term only last when they work from the company. 401k tend to go to zero If the company bankrupts like enron and airlines. And the fees are huge it’s gives the companies who manage it 70 billion + in revenue sharing.

    • Yes you can tell your friend and family about your new franchise or new retail store, but you can’t force them to go there and buy the product. Plus, those franchise and retail store everybody know who they are. WFG is totally different, they’re most complicated business out there. The new recruiters is newly to the industrial, they know nothing about the WFG, and bang you use them to be your money maker upon their new arrival, their friends and family already. The system is really evil! I would say the new recruiter in any business need at least more than a year to understand about the company they’re working for, and what product is good or bad.

    • Yes you can tell about your new franchise or retail to your family and friends, but you CAN’T force them to go there and try out your product. Although the franchise and retail everybody knows about it. WFG is totally different, it’s most complicated business for the new recruiter, and bang you use them, friends and family to be your money maker upon their new arrival. That’s really evil practicing. Every business the time frame to understand about that business is at least 6 months to 1 year. The WFG system is making money upon the new recruiter, their friend, and family. When they’re still fresh, they’re irresistible to purchase anything WFG force them to buy.

  110. Drunkai,

    I would also add that condo and houses are more complicated investment because of a few things for one even if you buy the house through a mortgage depending on market it can raise or not just like 2008. Secondly the value of your house can go up or down too. Thirdly depending on location your home insurance might not cover all possible contingency. For example in San Diego when the wild fires hit many homes weren’t covered for it there was an entire news on that. Lastly even when you pay the house off you still have to pay the insurance and tax property now let say if you can’t pay the tax property because you retired and not enough in your savings or fell at hardtimes then your house or condo will have a tax lien and if you don’t pay it off in time then whoever purchase your tax lien obtains your deed. Which is tax law IRC 6321

  111. Thanks Jasper and Drunkai,
    I agree there aren’t many places you can just go and start up a business with a hundred bucks and could possibly do pretty good. I don’t like how they want you to give up a number of names of family and friends. That isn’t how I operate. I would like to say a few things about real estate. Many many people have gotten very rich off of it. Some started with very little. Some started with some small flips and moved to developing where there is potentially much more money. If you move quickly, you can be ahead of the game if the market crashes again for real estate and it will. And there will be more opportunity once again here at depressed prices. My suggestion, get with a realtor, know the area you are working with and work with someone (preferably someone that has done it before). My friend is only doing WFG in order to have more money for developing as each project is expensive. I looked at WFG as well I need to set up a few more accounts for myself and some college funds and may want to relook at my parents simple Ira plan for the employees at work in which the financial guy is getting a hefty commission. My time is so very sparse between running a couple side businesses that are actually making me money along with my full time job so in no way can I add something that requires much of my time. I was trying to get some of my close friends out of healthcare who really have no money with this “opportunity” but I may just have them help me with some importing or with finders fees for properties. I will go to the meeting with an open mind today. I also went and received quotes from transamerica online last night. I will compare with what we are offering and rates at WFG
    Good luck to all

  112. Maybe I’m just not understanding your grammar but I just can’t see how wfg is a scam. If your trying to say because they have lack of education that doesn’t mean anything. I haven’t found one person honestly tell me each subject of each book of each class they took. By the way for profit schools are under investigation I’m not sure if they are done with it yet.

    I’m going to ad a quote from IRS.

    “There are two types of direct selling companies – single level marketing (SLM) or multilevel marketing (MLM). Single level marketing (SLM) companies reward direct sellers for their own personal sales activity. SLM direct sellers cannot take on other distributors or sales representatives. Income comes from commission or bonus on sales.
    In a multi-level marketing company, sales representatives are able to sponsor other distributors or sales representatives and receive a commission or bonus on the sales made by their underlying resellers. This recruitment of down liners is necessary to increase a sales representative’s sales force and thus generate a greater number of sales. MLM’s are often referred to as network marketing companies.
    Multi-level marketing differs from an activity called a “pyramid scheme.” Pyramid schemes are illegal scams in which large numbers of people at the bottom of the pyramid pay money to a few people at the top. The success of a pyramid scheme relies upon a never-ending supply of new participants.
    Pyramid schemes seek to make money quickly. Multi-level marketing companies seek to make money with their representatives as the business grows by selling their consumer products. Multi-level marketing companies have a start-up fee that is small with a starting sales kit being sold at or below the company cost. Multi-level marketing depends upon sales to the consumer and establishing a market.”

    If you read further you can see you can retrieve your money back at the end of year for being a wfg agent plus be able to deduct a lot during tax return. Btw there are 20 billion dollar companies that don’t pay corporate tax.

    Now let’s talk about products obviously the products their are great few of them are top 10 in the industry. So if you’re trying to make a point please explain.

    Ref:http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Retail-Industry-ATG-Chapter-3-Examination-Techniques-for-Specific-Industries-Direct-Sellers

  113. Kristie

    2 years ago I would have agreed with you its not smart to change over when you already make 6 digits but I met a senior marketing director who used to be an network engineer but he hated his job because he didn’t spend time with family but 4 years ago he quit his job after 3 months and now he make 6 digits in wfg. His last name is balanza.

    For other people apparently you guys are so smart that wfg is a scam that the 150 companies don’t see it plus the government and 50k wfg agents.

    • Jasper,

      I am all for people being successful. All for helping your neighbor, friend, family or even a perfect stranger. I never have eluded to WFG being a scam. It is my understanding that aegon and Transamerica is using/utilizing a team of people as independent contractors that they do not have to keep on salary or pay benefits and only pay commissions. I don’t believe there is any extensive training given to these new associates and they want these people to go and sign up policies for their friends and family. It is drilled into your brain to go and recruit more people so that more family members and friends can buy policies. So WFG is just a clever arm of these really big insurance firms. Can you make some money in this organization? Absolutely yes. Are there some good products? Absolutely yes. Are there bad products? Absolutely yes.

      I guess this all boils down to who are the associates and senior marketing directors etc. Are they honest and ethical people? Will they educate themselves enough to be able to put the right products in place for their client? Will they choose the right product depending on the variables such as age, risk, price, etc of the client even if they know their commission would be higher on a less relevant product?

      I know my friend is so ready to get out of her job and she wants flexibility etc in life. And we to know of people that have quit their job after working for the organization.
      My point is lets not get ahead of ourselves and quit our job and yet still haven’t made a dime. I know she will work hard at this and I am sure she will make some money.
      I am all for multiple streams of income and encourage all to not solely rely on one career or profession. Think out of the box and be open minded.

      I believe I will help some of my friends analyze some of the better products that will actually benefit customers and help them close some deals after they get their license and make some extra money to pay off their debt.
      That is the plan anyways.

      May I ask why you aren’t working with WFG any longer? You had said it wasn’t your passion. Is any mlm product something truly to be passionate about?

      • WFG is a marketing company (MLM) with licenses to sell insurance products for various companies.

        It is derived from World Marketing Alliance (WMA) that was closed down for massive fraud.

        One of the founders of this WFG was formerly involved in Primerica(also had serious legal problems)
        and other similar companies(Humbert Humphrey no relation to the former politician).

        Other problems with this company and way of doing business (MO) include

        The insurance companies that give them the license to sell their products want as many products sold as possible
        and they do not care if the Reps have to bend or break a few laws to do it.

        They use unethical sales practices and have been sued and criminally prosecuted in some States (California)
        for selling unsuitable products to seniors and others…

        I have seen and witnessed the illegal and unethical tactics
        used by WFG.

        They will make new Reps sign disclaimers and indemnity agreements
        meaning they are training you to break many laws and regulations,
        but if you get caught doing it
        then you did it on your own
        or if you are sued
        then you are on your own and the home office is not responsible for your actions..
        (what a company?!)
        Then, WFG can claim that they just had a few “rogue agents” not following company policy
        when the training, processes and procedures all come right down in detail from their
        corporate headquarters in Georgia……

        Everyone in their nationwide system is trained in WFG’s
        internal recruiting and sales processes and procedures
        so to claim agents did it on their own is a load of BS…

        They people on the top of the MLM sales pyramid are making enough money to hire
        expensive lawyers to try to keep the regulators and lawsuits at bay.

        (If you have enough people sell even the worst product like a pet rock
        or a terrible option ARM negative amortization mortgage
        designed to make many lose their homes)
        then those at the top will still make money and fees.

        But, you must be aware that they will not pay your legal fees if
        you are sued or if you are investigated by the Federal or State Securities regulators.

  114. Christie

    You made a lot of awesome points. First I would say is I would never agree to quit a job until you made money to replace because you have family and bills to pay. Doesn’t make sense to talk about finance when your own house is not in order because your racking in debt . Next let me tell you my experience in wfg yes there I went to meetings there is a lot of inspiration which helped me because I can stay focus on my business. Let me be clear there is numerous of reasons why the system is good for one there is a lot of times we have to call other financial companies ensuring the information we put in is correct because we don’t want the policy to come back denied. Next thing is we have to put our customers first because if we focused on commission more then we will have chargeback. Which then your score would be lower and if it goes to low you can’t sell and you can’t get promoted. So it would be dumb not to think of the customer first. And to do all this usually takes at least 2 appts. One is intial other is follow up. I personally learned a lot from wfg. I’m personally done with wfg because there 2 much offline marketing in wfg. You can’t sell policies over the Internet. I’m simply market online easier for me. I don’t need to make friends or talk to strangers to go to a meeting. That’s what I mean I don’t have the passion for. I definitely as far products you can feel passionate about that is in mlm. For example if you love weight loss there health products personally it not me because I know every body is different and so some nutrients can be harmful to others especially on how much is in it. All im basically saying is in any market there is an mlm for it. A lot of them offer company cars if your production is right. At the end of the day after friends and family where is your market next right. Don’t get me wrong I really don’t want everyone to do network marketing that would be the worse imagine a society everyone is offering opportunities we would be saturated. We would like wall street. Hope this helps.

  115. Well 85 percent drop out isn’t bad especially calculating the cost to profit. It must be over time it’s 85 percent not within a year.

    37 to 59% of students doing for profit college doesn’t meet employment requirement. what is the cost to get that degree.

    Only 15% of small businesses last over 15 years. What is the cost to startup and maintain that business.

    http://usgovinfo.about.com/od/smallbusiness/a/whybusfail.htm

    http://www.franchise.org/Franchise-News-Detail.aspx?id=52504

    http://www.harkin.senate.gov/help/forprofitcolleges.cfm

  116. Dropout rate for WFG
    is 90% or higher
    According to what I have heard and read

    • @HISTORY888
      @PAUL
      @NEGATIVE PEOPLES

      WHEN YOU GUYS ARE TALKING ABOUT ANY PARTICULAR SUBJECTS, MAKE SURE YOU HAVE SOME PROOFS SO THAT PEOPLE WILL UNDERSTAND WHAT YOU GUYS ARE TALKING ABOUT.
      THIS IS AMERICA, WE TALK ABOUT THE FACTS NOT YOUR OPINIONS. BRING THE FACTS TO HELP OTHER INDIVIDUALS OUT THERE WHO ARE RESEARCHING ABOUT WFG. WFG IS NOT GOOD FOR EVERYONE, BUT FOR THOSE WHO WANT TO WORK HARD, IT CAN HELP A LOT.
      FIRST “GOOGLE, YELP” ARE FOR OPINIONS FOR PEOPLE LIKE YOU GUYS. IF THERE IS 10 LAWSUITS WE WOULD HAVE SOME CONSIDERATIONS, IF THERE WERE OVER 100 LAWSUITS, THE COMPANY WOULD NOT EXIST. SO BRING THE FACTS, EDUCATE OTHERS

  117. Man,

    I totally agree with you I can’t take any comment as serious without providing facts or references. When I was in wfg just in our office I saw 85% stayed however that just for our office. I can’t ever take emotions logically or opinions unless there is proof. I know that emotions is the number 1 cause for murder. I research for on what history8888 says but I didn’t find one reliable source stating the same thing. Then I looked at what Paul says his is so vague I don’t even know where to start researching. If you are educated aren’t you use too putting references down to provide an argument?

    • @jasper & man

      I see the WFG cheerleading team is out again. I guess when you people don’t have any answers you resort to attacking people. That’s ok. You only continue to show how desparate you are and how you refuse to listen to the truth or address peoples concerns.
      I pity your clients.

      • Paul I’m still in college looking to start a side gig to make more money. I’m interested in getting into financial services and selling products and growing in the field. Been reading on these comments was going to look at WFG into selling products maybe not recruit. Any way u could give me advice which company to take a look at and work with. Also if wfg products are bad then explain , like to be educated before some one invests so much in retirement plans and other services.

        • @ Jose

          Hi Jose

          I really no nothing about your background, abilities, and strengths. It would not be right for me to offer you advice. Why would you not ask these questions to some of the capable people at your college?

          Good luck.

  118. Paul,

    Are you on drugs or something. I have not attacked anyone unless it’s a proven fact. And I know for a fact that there is no product that will help 100% of any person because people either already have it or their financial goal is different. Secondly I’m no longer in wfg. To me your only person that is attacking with nothing that back it up. However wfg to me is just like kayak.com in the financial field. Honestly you sound like the banker I met the other day he told me there was no fees in 401k and it was the best investment when in fact a lot people lost thousands of dollars in 2008 and the SEC stated there are fees in it. Lastly I didnt sell variable products only fixed and has downside protection. Especially considering how in one month they lost 1 trillion dollars in other people’s money. Honestly the only conclusion I could think why you write negatively about wfg because they are performing better then your company. And fact is metlife fired a 3rd of their employees and working to work internationally though they have a contract with the DOD.

    http://money.cnn.com/2010/10/01/markets/SEC_CFTC_flash_crash/

    • You are the gift that keeps on giving. Every time you write something you disprove your own comments. If someone was invested properly in 2008 and did not panic and take out all their money, today they would be in the positive. But you must already know that because you are a financial wizard of some type.

      Again you wrote many lines of nonsense including a useless link because you don’t want to talk about WFG’s inferior high fee products. You just want to bait me into an argument to try to change the real subject and avoid the good parts of the discussion here.

      If you want to make some kind of valid point stick with subjects you are qualified to write about. It’s obviously not finance or investing. I doubt you could even handle a household budget.

  119. Paul smh…

    Clearly you don’t understand to me it’s about what’s on principal not of principal. Reason why it is significant is people 401k is based on if money. According to fidelity average 401k and ira is $261k if the person retires with that amount then at age 65 calculations goes like this it gets taxed by uncle sam then calculated against for how long they will live so if it’s 20 years it’s already bad. If 261k divided by 20 equals to $13k per year this is not with taxes or inflation which makes it smaller. Adding possible drop due to market is just another stress to their lifestyle. When you say wfg has high fees how is it possible we don’t own any products nor are we the underwriters. They just sell other insurance or other financial companies products. Look online if wfg is a insurance company you won’t find any. Lastly I’m loving the fact we continue to post here because it great for lead generation. I know viewers have a mind of their own. :)

    http://www.fidelity.com/inside-fidelity/employer-services/fidelity-average-401k-balance-nearly-doubles

    • Ummmmm…ok. That’s some interesting math you got there. I do however agree with your last sentence. You have a nice day.

  120. @ Paul
    @History888

    Here you the authors of this blog. They need the opinions and here are all the opinions of what people think of about anything.
    The Truth is you have no idea about what you guys are talking about.
    # No Clues # No Facts # No Real Truth of what you guys are to say to help others.

    Bring some facts of what you have to offer to the people out there in order to help them right way, help them the right solutions.

    We are not good in your views but we will be the best.

    • Man

      Please consider some ESL classes so when you write something it actually makes some sense.

      Then try some real financial education, so you can have someone impartial teach you just how wrong you are about everything. Then you can come back here and apologize to everyone.

      • @Paul

        Being honest, English is my 3rd language. For the guys like who are really good at English, you should have done something very good. Rather writing some stupid topics about what you even don’t know what you have started all these. Go back to get some real jobs. Study for license, then you know the products we offer.

  121. Hey guys let’s look at some numbers.

    From my vantage point, the index funds are the ones that are pedaled the most from WFG. I finally got some information on this product and what they are selling. It does have some really good components to it but lets break down the fees and compare to a different policy (this won’t be a comparison of apples to apples but similar).

    Here is how the overview and chart is broken down:

    Your flexible premium payment – I will use the same number from one of my other policies- $780.00
    Subtract your premium expense charge- Year 1 will be $31.20, Year 2-10 will be $46.80, Year 11+ will be $15.60 This of course can fluctuate but it will never be more than 6%

    So if we are in year 1, you will have $748.80 that will be used to buy either global index funds, s&p 500 index funds, or basic interest funds

    From here you will make some interest which determines your policy value and then the following fees are subtracted:

    Index Account Monthly Charge- 0.06% of the Index Account Value (this I am presuming is the management fees for running the account- I do not know if there are other fees tied to the actual funds that are purchased but I am assuming these are the main fees for maintaining the mix of stocks) Let’s just throw out a number $50,0000. So of course at the beginning of your policy you will not be paying much at all on this but at $50,0000 you will be paying $30.00 monthly. Of course I do not know what funds are being purchased and do not know if these funds accrue additional charges- this is never mentioned nor implied

    Cost of insurance- This varies depending on policy amount, age, health, duration etc. I will not put a number to this

    Monthly expense charge- ???????????? I have NO idea what this number is. This is a charge per thousand of the face amount of the base policy and additional insured rider I can have some kind of numbers to plug in here in a few weeks but I have nothing now as no percentages or hard numbers are listed in the literature. Can anyone enlighten me what fees are deducted here?

    Monthly policy charge- Current $10.00 Guaranteed maximum is $12.00

    Additional rider charges- This of course is determined by what rider you want if any- basic insurance charge

    So in a nutshell- You send in $780.00 a month
    After premium expense charges and monthly charges this leaves $708.80. This does not take into account the monthly expense charge as I have no idea what this is based on. This doesn’t take into account the actual life insurance policy fee nor rider fee.
    At this point charges are about 10% of the money are you paying in. Of course this is based on having $50,000 in your account. Your charge would be less at the beginning until your account grows.
    I would also like to point out that the majority of the fees are taken out after interest is accumulated.

    Here are some of the information on the funds-
    Global index fund (Comprising of the S&P 500, Euro Stoxx 50, and Hang Seng Index) Maximum Cap is 15.00%, Guaranteed minimum is 0.75%. Average rate of return from 1993 through 2013 was 9.58%. I have the numbers for each year.

    S&P 500 Index funds- Maximum cap is 13.75% and guaranteed minimum is 0.75%. Average rate of return between 1989 and 2013 is 8.71%.

    Basic Interest Rate- Current rate 3.50%, Cap is n/a, guaranteed rate is 2.0% (obviously this is nothing and doesn’t really keep up with inflation)

    Ok lets compare this to my incredibly awesome VUL account set up by wonderful financial adviser when I was 25. Sense the sarcasm.

    This is for a $1,050,000.00 policy (we won’t go into the actual numbers for the policy as we didn’t calculate these above)
    Monthly charges
    Premium payment- $780.00
    Premium Expense Charge- $39.00
    Monthly expense charge- $32.29
    There are also account management fees for each fund- these are scattered between fidelity, American funds, and voya (Let’s assume these fees are approximately 0.5%-every fund is different but I think this a good estimate) On $50,000 assuming 10% annual return monthly fees would be about $21.00.

    So from my monthly payment of $780.00 I would have approximately $687.71 to be used for the insurance and actually buying stocks/funds.
    I have no protection if the stock market bottoms out in this policy. I have no guarantee.

    In the indexed funds, the money is basically hedged but not leveraged. I don’t really see it as a bad deal. Of course there are still of the equation that I don’t know and can’t fully make a decision without seeing it (monthly expense charge). I also know that the basic charges seem high but we should take them into perspective of where they are stemming from.

    This post is dealing with one of the main policies they push and in no way is meant to delineate WFG as a good or bad company. It is obvious that there are many challenges with the way they have conducted business in the past which are linked to their leaders.

    Please feel free to discuss any of these numbers as I threw them together pretty quickly and did some generalizations.

    Have a great Labor Day!

  122. I also wanted to state that I do have accounts with Vanguard which have low management fees. So the cost of purchase and maintenance is pretty low. There is no guarantee on these funds so there will be highs and lows. The same can be said for 401k’s,457’s, 529’s, ira’s (all of which I have accounts with as well).

    The index funds are really a different type of investment altogether and I honestly believe someone’s portfolio should consist of a number of different transactions. There are some tax advantages as there are with many of the other types of retirement plans.

    I believe that everyone’s portfolio should be a balanced mix of different types of saving and retirement plans and I know the index fund will be an expensive component for many and could be considered as a safety net for when the stock market depreciates. It really depends on what the client wants to spend each money on retirement options.

  123. Christie,

    I completely agree with you on everything you wrote. Wfg before didn’t know what they were doing when they were called wma. When aegon and transamerica came in they fixed it up. Aegon is number 234 of the top companies in the world which means the company solvency is high. They back transamerica and wfg. Which is impressive out of thousands of companies out there. Solvency says a lot it would determine whether a company will fail or not. There has been over 500 banks that failed and 50 of them not acquired.

  124. Jasper,

    Yes no doubt aegon and transamerica are huge companies.

    Do you have any idea what the monthly expense charge is for the calculations above?

    If you look at the figures above and assume you have $50,0000 in your account the fees will shave off approximately 1.6% of your earnings each year. So if the average return over a number of years is 9.58% then that leaves your actual return at about 8%. Following the rule of 72’s that means it doubles about every 9 years. That’s not bad. Yes you can make more in other funds but there will always be risk involved.

    Is the index fund for everyone? Of course not as it is an expensive product to fund correctly. But I do think if someone has money and actually wants to put away a decent sum of money each month it seems like a reasonable move to diversify and hedge some of their retirement.

    If someone is working with limited money then it definitely isn’t for them.

    I still don’t have the information about the monthly expense and this really needs to be part of the above equation.

    I really don’t know much about any of the products that WFG is pushing. I only received information about the index funds (I tried to break this item down). and some information on long term care riders etc (overpriced I am sure)

    Wma was a terrible organization. WFG is an inexpensive option for aegon to push their products. Have they cleaned them up. Yes. Does it still have some corruption and misdeeds. Probably so. Will they support their associates if sued. Seriously doubt it. Do I agree with running and signing up all your family and friends. No. Do I want to go to a bunch of rah rah meetings. Naaaah

    The key to life is to be diversified. In everything….. Your career and finances. Take advantage of the market as timing is so important.

    Enough of my rambling. Have a great day!

    • @Christie

      Just a couple of points here.

      In a post above you state you have some low cost Vanguard funds. Here you state an index fund has a fee of 1.6% and that is resonable? That is incorrect as Vanguard would charge only 0.20% on a similar fund. Secondly the rule of 72 cannot apply to a mutual fund. The fees, and we don’t have that picture yet here can eat a huge hole in those returns. Was there a front load fee ? Is there a trailer fee? Was the client put into a loan to fund this. All that further eats away at returns.

      Also although your being detailed in your posts your getting away from the message again. This blog post is not about recruiters and what they can make. Its for the clients and also the people who sign up at WFG and 3 days later are asked to find 10 new people to sign up. These people fall by the wayside. If you are being genuine here in considering if this is an ethical business then I think you should consider that first.

      • Hello Paul,

        Yes I have vanguard accounts with low fees. I believe most are averaging around 0.5% or so. Their index fees are some of the lowest in the industry at about yes 0.2% although other average 0.7%. If you look at my post where I stated an average of 0.5% it was an average of a number of fidelity, american funds and voya. There were a number of funds in these accounts and not just index funds. I believe 0.5% was a fair assumption. Honestly if I broke each fund out it would probably be more than this. I think everything should be taken into consideration when looking at fees and the product you are receiving. For instance lets take this scenario. Let’s say I have an account with 50,000 in it. Let’s say the market bottoms out like it did several years ago. I lose a ton of my money in my vanguard account. It takes me 5-6 years to make up for my loss and be back where I started. Sure the fees are really low but how did that help my portfolio? Yes the fees seem high at 1.6% but if I had the same money in this account I would be out less than 1% those 2 really bad years and at the 5-6 year range on that same amount of money I would have a ton more in my account than my vanguard account with the lower fees. So from this perspective the 1.6% I can live with and my portfolio could live with it.

        Regarding the rule of 72. This was a generalization and I plugged in the average over the life of the fund. It was to obtain an idea of about what you would have. Of course each month you are locking in rates and this will vary so this figure will not be exact. Only an estimate using compound interest.

        Perhaps I got lost in what the post was about but I was trying to provide some factual information for everyone to make informed decisions.

        Like I had said before, I am not interested in dragging a bunch of people along with me to sell insurance or such. My intention was to educate myself and others in this product that one of my friends is involved with. I would not want to be part of a system where those around me fail. I know WFG relies heavily on signing up new recruits. I got that. It is abundantly obvious and I had to tell my friend to stop and focus on the product. I am trying to look beyond that at some of their products from aegon and see if they would benefit a client.

        My honest opinion. They seem to have some good products. I am not a fan of how they operate. I guess it really depends on the team around you. And I stress team.

        Hope you have a great day.

        • Watch out for “surrender fees”

          Which can be huge and eat a substantial amount out of your accounts.

          Read the “fine print”.

          Many WFG Reps are attempting to get people to transfer their retirement and insurance
          accounts and do not inform the clients that many of these accounts carry
          very large ” early surrender or transfer fees”..

          Many lawsuits against WFG Reps on these issues..

  125. Christie, I don’t remember the fees however the big push is the ffiul which is the one you mentioned earlier

    “500, Euro Stoxx 50, and Hang Seng Index) Maximum Cap is 15.00%, Guaranteed minimum is 0.75%.  Average rate of return from 1993 through 2013 was 9.58%. I have the numbers for each year.

    S&P 500 Index funds- Maximum cap is 13.75% and guaranteed minimum is 0.75%. Average rate of return between 1989 and 2013 is 8.71%”

    The company does protect its people because each associate has to pay $30 a month for lawyer insurance lol don’t remember what is the short name for it. It’s mandatory to have to sell products. That’s the beauty of recruiting because it allows people to make money if they can’t save enough for themselves. Each associate is recommended to have a product. They also take care of debt through debtAmerica too. They are legit now because of transamerica and aegon.

    • Be Careful about investing in VARs,

      That is primarily what WFG pushes: high load, high fees, long term VARs.

      According to financial experts writing for Forbes magazine,
      VARs are most often not a good investment for anyone’s family financial portfolio.

      And, after the recent market crash, many large insurers arbitrarily and capriciously
      sent out a “change of terms letter”…
      Meaning the “gains they guaranteed” were over stated and not realistically obtainable
      (they lost money on the VARs, but still paid themselves high fees and high commissions).

      The results?!
      Many Clients who purchased VARs had a portfolio seriously reduced in value.
      Some Clients were even faced with “cash calls” to bring their accounts up to certain levels.

      Read the fine print and be very careful before you buy
      or sell these products.
      Lawsuits are frequent and frequently successful against the sellers of these products.
      Google it…

    • Jasper,

      Are those also known as “Principle protected notes”? Like the products banks push that are only “linked” to indexes or utilities that max your return but give you that “piece of mind” guarantee that you won’t lose your principle. Which after fees and inflation means you lose money….

  126. Paul,

    Oh no man its not like a CD it’s permanent life insurance with cash value.

    • Read the fine print.

      Many VARs are called insurance by the Sellers
      but they are not insurance at all….
      They are investment contracts…
      It could have negative value when the market takes its cyclical downturn…

  127. History8888,

    Your the funniest guy in the world I enjoy your comments because it so wildly crazy at post 19 you wrote

    “Wrong.
    It was WFG company policy to tell people before the financial crash to refinance their houses, take out equity
    and put it into WFG products.”

    If that is the case wfg is bigger then any company in the world. Apparently you don’t like 401k, tsp, vul, and etc. By the way for a decade i havent seen anything about wfg people getting into any form of lawsuit where is resource from your head. So you shouldn’t promote jobs because that is what your getting. By the way do you know what a term is?

    As far as is wfg ethical if wfg isn’t then apparently a lot of companies in the same boat. How does pawn shops make money under buy items over sell items right. Is that ethical? What about charity organizations less then 45% go to the cause for most of them other percent pays people. For example als association put 28% to research only

    http://www.alsa.org/about-us/financial-information.html

    • Google WFG or World Financial Group Fraud
      and you get over 34 Million hits…

      Law Firms specialize in successfully suing WFG and its agents….

      It is common knowledge and there were a ton of lawsuits against WFG and its agents
      for having people refinance there homes take out equity and put it into securities before the crash.

      Even other posters on this forum have admitted as such…

  128. History 8888

    I Google what you wrote and all I found was bloggers and customers with complaints which all could be one person or many persons if your telling me that is reliable source to you all I can say is wow. Your probably the most gullible person alive. Do you believe in flying spaghetti monster too? I know what I’m saying only because I look at reliable sources and calculated the numbers.

    • You know jasper…

      For someone ( your post 107 above) who claims you are no longer involved with WFG you spend quite an effort here defending them and passionately attacking those who try to make valid points here. Somehow I find that difficult to understand. I suspect that you are still involved with WFG and you are not being 100% up front here about your connection to them. I’m also going to guess there are a few made up posters here that are all the same person just using different poster names trying to fill up this blog with useless information and staged conversations with one another once again in an attempt to discredit the information here. I think most people see through all that though.

    • Goverments in Canada and across the USA including States Attorney Generals have sued WFG..

      Canada even set up a special complaint procedure for WFG…

      There are prestigious attorneys and law firms who specialize in suing WFG successfully…
      So don’t give us any of your baloney..
      Or smoke screens

  129. Like I said earlier I’m still not part of WFG but I support them because they are a good network marketing company. That is approved by FTC. Secondly I personally your not being 100% with us neither because how can you be for opinions that is against WFG but when sonebody says something for it you tell them to start research more or they don’t know what they are talking about. Like how you did on post 25, 53, and 63 and it makes you far from geniune. That is definition of being bias. Would I say wfg is the best company I wouldn’t however I would say as far as in the financial field it’s one of the better ones out there. If I was in a company and another company was doing better in production and services of course I would spend time talking shit too. I’m just saying. Job security is important for some people.

    • You know I can only feel sorry for you. After that post you truly have proven you really are brainwashed. Wow. I guess their work is complete at least for you. Lucky others can be spared your fate. Good luck to you.

    • More made up garbage….

      The FTC does not approve companies like WFG…

      You just gave yourself up as a member of WFG.

      You are responding with WFG “talking points”

      and not facts….

  130. Lol thats your response it only proves my point. I’m not saying wfg is the best but I haven’t found anything better and no one told me which one is better yet. It confirms my impression of you by your response. Only kind of person I know who writes constantly and negatively about any company must feel threatened. Since WFG is on the FTC approved list then only conclusion is because your company is being out beaten by WFG agents. Which says a lot on how much production you make which appears not to be much. I found out what I needed. :)

    • Again,

      Your post is false and misleading WFG “talking points”
      designed to mislead potential clients…

      There is no “FTC Approved list of companies”

      That is an incredible lie
      that is added to other huge whopper lies
      to try to recruit people to WFG
      and to sell people WFG products
      (third party vendor agreements to sell products)….

      • @history888

        by the way do you have any facts? beside google..

        show us the proof or else find a job.

      • History8888
        Man and jasper are the same person. “They” are just hired lackeys by wfg to troll websites and post useless information out there in an attempt to hide their poor performing and money losing products. No point to get into conversations with them. They are not genuine. People who come to this website are way smarter and dont fall for all their BS.

        • Paul N

          I agree with you that this blog is a complete waste of time….

          50-60 million hits on the internet for WFG (World Financial Group Fraud).

          There have been criminal prosecutions of WFG agents (California)
          for selling annuities and products unsuitable for Seniors and Baby Boomers
          and leaving those people distitute.

          WFG is all about making the most money they can
          on inflated commissions, fees, carrying and transfer charges

          and selling people money losing products that do not give their families
          financial freedom as they claim in their cheap and cheesy, false and unethical
          talking points…

          They all sound the same like a they have been drinking the Koolaid of a Cult.

          As you know, “One Size Does Not Fit All”.

          But, you will get the same memorized, phony, fake answers
          to any questions you ask about the products they sell
          even though their canned, nonsensical answers
          do not relate to the questions asked…

          Avoid WFG like the Financial plague or you and your family and friends will regret it!!!

    • Utter nonsense… but we all have learned to expect that from you.
      None of your links show anything. You continue to miss the point of a blog called “my experience with World Financial Group”. Not “let’s post useless crap nobody cares about”.

  131. To paul,

    For one thing I’m not Man and Idk who he is. I definitely don’t write like him. Also on that note your claim of any one posing is someone else means either your a blackhat hacker or talking bs.

    Secondly these posts rather been fun. I hear a lot of complaints but no solution therefore by that definition your bitching. There no difference between what you are saying and someone complaining about what time they get to work and how long it takes to get to work and how you want to go home. It’s OK to complain just have a solution. The links are to show you what I say has meaning behind it. Without links shows signs of immaturity with no valid points.

    The links also shows WFG model will never go away and their products will always be selling. So yes for you this blog is pointless. Fact is not everyone will succeed with WFG but there are new people succeeding now. Honestly even though I’m out of WFG I will always be a client because they helped everyone i knew. Also idk of a company that offers products from the top financial companies like transamerica, ing, nationwide, jacksons, Gerber, and more. Since paul and history 8888 can’t come up with anything better they are indirectly promoting all other companies including Ponzi schemes and insolvent companies.

    http://www.sec.gov/spotlight/enf-actions-ponzi.shtml

    however how you feel about wfg have proof or it doesn’t mean shit. I can’t trust people online so proof is necessary. All this talk of unsuitable products is so vague that it doesn’t mean anything or show any format of expertise or intelligence. WFG been around for over 20 years so obviously they stayed afloat for a reason so I would respected you more if you added pros and cons.

  132. There is no same person that would vehemently defend World Financial Group as being fraudulent as you have and not be paid to do so. Come on now you can tell us the truth. We won’t hold it against you.

    Your links just make your whole position look more foolish. (Even I couldn’t believe that’s was possible). There are solutions posted above and their good ones. You just follow lockstep with your World Financial Group mandate and ignore them.

    You say you can’t trust people online however you have posted links you found randomly “online”??? I mean really… are you that transparent?

    If a company is around 20 years it does not make it legitimate. Again just re read some of your very own posts above. You continuously contradict YOURSELF!

    FInally you referred earlier to one of my posts way up in this thread. Thanks for that, as it’s one of my favorites of yours I responded to. The one where you butcher Condoleezza Rice’s name while trying to sound smart. Thats a classic.

    Finally and again because you don’t listen. There are lots of pros and cons here already I don’t have to write them. There are dozens of people here complaining about their bad experiences with World Financial Group. You just have to re-read them. Enjoy!

    • To Paul,

      I am a WFG member. I returned to WFG after 12 years. I left originally due to some of the unscrupulous things you described. It went on for while until most people quit and the figure heads left for Cali. We now have a small local group who are trying to do the right thing (most of us). Our current group is less than 3 years old and we have uphill battle because previous generation pretty much ruined the reputation. We are stuck fixing old mistakes and its very difficult. Unlike other success story we hear from California, majority of us at the office make very little money and can only do WFG as part time. Issues you describe are caused by people not company. Even at our small local level, I see selfish people who do not understand the product fully but try to sell it off. I take my time to learn each product’s full potential and faults. I will admit majority of WFG agents are minority with lack of financial education who try to teach others what they learned from basic financial literacy presentation. I don’t see anything wrong with that. I do agree that if you’re going to offer wide array of solutions, you better know how to recommend correct products and strategies to your client. I clash with some of the people at the office because they think I’m trying to restrict them from selling solutions when I tell them that they need to know more or have someone experienced involved. Its not a perfect system but at fundamental level, we are trying to do the right thing. How I see it is we’re better alternative than majority of the insurance agencies who sells policy but do not educate how your Life Insurance (structured correctly) can work vs Death Policy (not structured correctly) most companies sell. You can do a youtube search for Max Funded IUL for concept on how this works (majority of WFG business is from IUL). As for Variable Annuity, I hate them with passion. My mom lost half of her 401K in 2008 because some A-hole adviser from Huntington Bank decided to sell her variable annuity behind my back even after I told him to give her something fixed. Majority of the variable annuity, and mutual funds are designed with high fees so its usually better to get ETF or Index Funds in same sector. I don’t recommend Mutual Fund, and I don’t recommend Variable Annuity to any of my client. If they really want one, I tell them to go buy individual stocks in good company. I may recommend Single Premium Annuity and Fixed Index Annuity for those looking for continuous guaranteed income stream. The benefit of this type of product is guaranteed downside risk (0 loss during down years). Cons are limited potential growth (very low cap 2 to 6%- potential growth). I recommend them to people who have money sitting in the shoe box or savings that is growing at 0.2% (national avg for savings) since its better option. As far as fees are concerned, if you don’t buy a income rider (additional benefit for a cost), there is no fee for client except for surrender charge if they cancel it all together within certain time period. Even without cancelling, client can access 10% of their money every year for majority of the products out there. Some products come with return of premium after 3 years if client doesn’t want it anymore. They can literally get all their money returned. For people who are older who doesn’t want to risk their money in the market, these type of products are great alternatives to CD’s. As you’ve mentioned Vanguard having low fees, that is true but did you know that there are current government litigation against Vanguard for double standards in fee structure? They charge one group very low fee (less than 0.5%) and another group much higher fee depending on where the investment capital comes from? They were able to do this by hiding tax liability using a loop hole no one noticed until recently. Other brokerages have put formal complaints because they were paying taxes on the growth but Vanguard was not. There is always cost of doing business and even at Vanguard, they have their vice. It doesn’t matter what company, if you look hard enough, there is always dirt and there are always people who are unhappy with their service. Only thing I can do is I do it right and train others to do right. Those others who do not do things correctly, shame on them but I do not have power over them. Don’t group all of us as bad when there are few of us who fight to do things the right way.

      • Dear Rob, Victoria, jasper and MAN.

        It is so obvious you are all working together or the same poster. As soon as jasper and man stop posting, somehow Rob and Victoria mysteriously find this blog started in 2011. (These two people never posted before) they sort through 370 posts over 4 years of people complaining about world financial group and pick out mine and history8888’s posts and reply to them. Really how is that at all possible? Think about it. It’s not possible.

        They post the same nonsense which is a lot of fill with no substance, rather then addressing the original issue which once again for the cerebrally challenged, is people’s bad experiences with world financial group.

        It’s pure BS again. THERE IS NO VICTORIA NO ROB. Only a faceless team of cheerleaders for world financial group.

        I suspect since you all only post late at night at around the same time consistently, your not even in North America. Your job is to troll websites that post true but negative posts and fill it with spam replies. What desperation you have.

        I’m sure people have already figured this out for themselves and are making smarter financial choices.

        • Wow, Paul. I thought you were more reasonable person than I gave you credit for. I happened to be up searching for an advertisement that WFG put on the Forbes magazine on Google and your blog was first thing on the top so I thought it was something about the advertisement. Search “world financial group forbes ad 2014″ Who ever the originator was, asked for “my experience” so I put it on here. I’m offended that you’re accusing me of something when only thing I did was address the original question. You were the one that gave crap to others for jumping the gun but now doing the same thing. What does that say about you? Whether you choose to believe me or not is upto you and other readers. I live in Ohio and I am a night owl (bad habit from college days). You can assume whatever you want, I just hope you do the right thing. If you see bad WFG agent, point them out but if you see the good ones, make sure you praise them also. Don’t just persecute all of us.

          • Dude it’s impossible for you to have zoned in on my post. And for the third time this is NOT MY BLOG. I only post on it. I too have seen poor examples of people being taken advantage of by wfg agents and to be fair Primeamerica agents as well.
            There are so many frustrating false comments posted here is ridiculous.

          • I’m not sure what you mean zoned in on your post? I’ve posted few above addressing some of the questions here and yes, I actually sat through for 2 hours and read majority of the posts. I find the post interesting since you get to hear from both sides. I’ve been burnt before but hoping this time will be different. I don’t believe WFG is for everyone and I have burnt bridge from friends to prove it. Your name constantly came up and almost everyone of the post you asked for hard proof. I even posted product info on some of the posts. I tried to answer you since you almost became moderator for this blog by default. I’m just saying you can’t say all the positive comments are false and all the negative comments are true. I’m sure there is little bit of both just like any discussion when one side is trying to pursuade other. I’m just saying don’t make assumptions that you nor I know for truth.

  133. Truth is I don’t know who man is. I personal belief is why hide your name if you want people take you seriously. If you actually looked at the links I sent it enough proof to say that the business model is legitimate by law. Any company that’s been around in personal view is legitimate but ethical can be a question. At same time for a business to be a business they have to make profit. So it does depend on a lot of different factors. I do see a lot of people promoting wfg and people not complaining. Here is where I have an issue with how can someone complain about company and not know the in and outs of a company. WFG is very complicated company because it affiliated with many companies and the industry is already complicated. In reality no one can pin point anything on WFG it’s impossible. Also rereading a lot of posts this blog becomes quite ridiculous. If you reread your post you can tell you have contradicted yourself too. Only product I found was awesome is the ffiul so I’m keeping it. It proved me it is safe, and it can make me a lot of money overtime. I can add additional riders to it. Lastly as far as network marketing goes they say 97% fail and only 3% succeed I need to see their sample group on that statistic because my circle of friends are in different network marketing companies and they flaunt me their paychecks with their companies name on it. I can say for certain it good money to live off of. The lowest is 7k a month. Plus I’m happy for people who trying to find other sources to make money that’s way better then people struggling then doing something crazy. Then end up working for UNICOR. Enough said this is my last post. I’m only stop posting because this whole becomes quite ridiculous and waste of time. If anyone want to email me it’s jaspercon3@gmail.com

  134. @idiots
    Paul & History888

    Now you guys don’t have any proofs why WFG is the best.
    So that you are telling Man and Jasper is same person.
    Being honest now I feel like Paul and History888 are same person.
    Well search me in Facebook Man Lama. I do not even know who Jasper is.

    Guys to be honest I like this post a lot because Paul a blogger, is making a good money from this blog and he found one of the best topic to talk about which he doesn’t even know about what he is talking.
    He has no proof. He doesn’t even give us a link why this company is bad.
    He talks about this company is legitimate. Well show us what legitimate is.
    How do we find if any company is legitimate or not? Show us proof and then we will discuss more.

    • Man

      If you could read…
      Not my blog… Again

      You guys are so unoriginal you simply copy what I say like a parrot. I’m sure as you two are proffesional world financial group cheerleaders and write anything to try to hide the bad experiences people have with World financial group.

      Links mean nothing you only have to go over the 300 plus comments above for anyone to find the proof they need.

      Once again your examples show your ignorance. You can’t compare a TD bank to WFG? I know you know that you simply want to create meaningless talk in your attempt to hide ally the peoples posts here about their bad experieces with world financial group.

  135. Guys also don’t forget to search about the companies you are working with. I am sure they have bad reviews too. Or even search reviews about Google, you will find bad and good reviews.

    Talking about wfg being a part of WMA.
    Search the history of TD Bank. You will find what happened to the old bank and why TD bank took over the previous bank. And what happened after that.

    • This is not about TD it’s a blog on bad experiences many people have had with World financial group. No need to do a search. But I’m sure the more we type this over and over, the higher this goes in the ranks of search engines so you should consider that and just let it go.

    • When we search for the other companies information out there, it doesn’t popped up like WFG has so many top sites reported as ripoffs and scams.

  136. If anybody has doubt about whether it’s good or bad to join WFG and has ended up into this forum, you’re at the right place. I know there are a lot of sites out there already mention about WFG, but it takes you a lot of time to search for the information. I will post all the experiences of the WFG’s agents from their sharing experiences at the other websites here for you, so it’ll save you a lot of effort to learn about WFG.

    Start off they’ve increase the joining fee from $100 to $125, most of WFG’s agent has defensed that $100 goes to the background check, so where is the $25 remaining goes to?, from #6 UPDATE Employee Your accusations are a lie, 2009, http://www.ripoffreport.com/r/WFG/Edmonton-Alberta/WFG-Scam-Hand-Out-A-Job-ripoff-scam-my-money-try-to-ruin-my-marriage-Edmonton-Alberta-130153.

    WFG mainly focuses on the warm sell, but could be used cold sell. Who’s and how they do warm sell? It’s from forcing the new recruiters like you, your friends, co-workers, and family to buy their product. Here is the quote from WFG’s agent “You must be extremely careful in advertisement. Certain kinds are not allowed. If you recruit, you will always have warm leads. If you sell, you will always sell to the cold market. You choose which route to take.”, from Tabi’s post,at http://forums.spacebattles.com/threads/wfg-scam-or-legit-business.268103/. Indeed, they must chose the easy path is warm market! Because cold market they must knock on a hundred doors for one to say yes. They know that, so they never ask their agents to go for the cold market. Why? Because they’re desperate for moneys, now and fast.

    WFG will bait you to become one of them, that you can make $50k in couple months, so don’t fall for it. Here is the real story of WFG’s new agent, “World Financial Group I believed in WFG and I made $0 in the end. They don’t tell you everything to begin with” (http://www.ripoffreport.com/r/World-Financial-Group/Bakersfield-California/World-Financial-Group-I-believed-in-WFG-and-I-made-0-in-the-end-They-dont-tell-you-eve-271381). I worked for the insurance company back in 2007, so I know what it’s like being the insurance rider. Just chose the right one out there if you’re really looking for joining one.

    Their policy even though confuses their agent. One of their client reported that WFG’s agent said, “you can cancel anytime, and you will get all your money back.”, but it was not true.
    http://www.ripoffreport.com/r/World-Financial-Group/Salinas-California-93901/World-Financial-Group-Screwed-Me-Over-with-Life-Insurance-Salinas-California-1086767.

    I’ve been invited to one of their seminar, they gather two days a week to support each other spirit up, so their agents won’t quit. If their agents can make enough money for living, they don’t have to gather like that. Every work place out there we do not need to talk about how much we make to our co-worker because we all know exactly what we make.

    The only interested thing about joining them is you can write off your expenses from taxes at the end of the year. That’s only a small benefit that you can get out of that job. There system don’t pay you, you have to work really hard for the commission. Let say when you work really hard and find someone that sign up for a product, the higher rank guy on top of you make more commission from your client. I don’t mind at my currently work place my managers make more money than me because it’s fair we get pay for what knowledge and skill we have. But WFG’s system is really ridiculous they use you to make the lazy one rich. You are the one who work really hard to find your client, so you should get a bigger potion of commission than those who sit in the office and do nothing. Their system lies to you, make you believe that you’re your own boss, but you have those higher rank people above you, and there is rule 3-3-10, 5-5-30, and 10-10-50 you must follow to make enough money for your living. And you must introduce your family and friends to them, so they can sell their product easier. My experience with my ex-insurance company was much much better than WFG. They didn’t force me, my friends nor my family to buy their product.

    Only one small benefit that you can get from WFG is write off your expenses from year ended taxing, would that be enough for you to join them? They only take advance on you for secure their own incomes. Your income depends on luck most of the time. You must have people say yes to sign up for a product. How you’re going to do that? Even a good person if you keep getting no all the time, what should you do? You must lie to your clients to make them to say yes, right? So at the end you will become a different bad person, you’re not yourself anymore. It’s just as bad as you’re gambling, when you keep gambling, more likely, you’re going to lose more than win. The more you lose the more you desperate for money to cover for your bills, and expenses for living, so at the end, there is a bigger chance you’ll end up being a law breaker or a criminal. Do you want that?

    • That’s a great post. The best one in a long time here. I hope more people take the time to write up true detailed REAL LIFE” experiences like this. Really a good read. Gets this back on track

  137. Those and other “horror stories”
    I have heard from people inside of WFG who quite because they thought it was a scam…

    What I have been told by many inside sources is that WFG Managers further up the pyramid
    will use every trick in book to get new recruits to give up thier your family, friends, church people
    everyone in your contact and FB lists to them….

    Then, they have you pay for and study for your insurance licensing tests..

    In the meantime, if you fall for the WFG BS,(and give them your contact lists/potential future customers)
    then your Managers on the WFG MLM Pyramid scam

    will stab you in the back and harass the crap out of all your contacts using your so called endorsement and introduction
    to treat all your contacts as “their contacts”(ie “warm leads”).

    The people you know that they sell (while you are studying for your licensing tests)

    then WFG tells you, Oh, you don’t have your insurance licenses yet
    so We WFG Managers) take all the commissions
    and you do not qualify to be paid since you don’t have your license to sell insurance yet.

    So even though new recruits may bring in a lot of their own personal contacts “warm leads”
    to the WFG scam,
    (and new recruits are constantly pressured to keep handing over their own contacts to the WFG pyramid scheme
    managers “for free”
    or the “won’t advance”
    and “wont’t stay in “good standing” with WFG..

    Even while they are taking the classes and studying for the insurance exams.

    Later, after the new recruits pass their tests, then they are told that
    WFG couldn;t wait for them to pass their tests and
    they just happen to have sold and recruited some of their referrals already
    before the newbies were licensed so they won’t be getting paid on some of their best self generated leads…

    Sounds like a very scum bag way to treat people and operate a business…

    • Very true from everything you’ve listed, WFG’s agents are after their own new recruiters, their friends and family’s moneys is their priority. If we use a little IQ to analyze this, it won’t be hard for us to figure out how they treat their clients. Even worst than they treat their own people right.

      I was at their seminar, and showed that I interest to join WFG. The next appointment they want me to come in for the interview, so I went in. The leader’s assistance of that head office came in late almost an hour, and let me with the person who invited me there. She’s new, too, but she’s in training state. She and the other friend of her threw at me their bullshiit system’s rule. They’re crazy rules. They told me that I’ll work independent, and I’m my own boss, but they were bossy at me, want me to bring in my wife…blah…blah…blah…and handed me the list of 25 names that I must fill out, and give it back to them. They even want to make the sale to the people that I know. I told them why would I refer them to you because after I get the license I need them to be my client for my commission right. They said you should share with the other agent, so they will help you later. Big flaw there! I threw back at them and said look I don’t know anything about any product whether it’s good or bad how do I want the people that I know to purchase it? I’ll go to them after I have enough knowledge about the product. Their financial agent said you don’t need to know, we’ll take care of them for you. I was like duh…wth… all of these guys are really worst than I would imagine.

      Don’t let them brainwashed you. They’ll tell you why have to work at the jobs from 8:00am to 4:00pm, but they didn’t tell you it’s still better than working for them without pay. WFG don’t pay you a penny, they don’t care how much hours you have to waste to find a client. Either you lose so much of your time to chase after the client without earning any commission, they don’t even care. If you can find a client to sign up, it’s good for them not for you because that’s all they wanted. They just sat in the office and wait for that happen so they can take a big potion of commission from your client. It’s just like the boss eat all the meat and spare some meat left on the bone for his agent.

      Working at the other job from 8-4, you get pay hourly isn’t it a lot better than WFG? Indeed because it guarantees you’ll bring moneys home at the end of the day! You don’t have to worry about money, about how you’re going to pay for your bills and expenses. You can sleep better at night not to worry about WFT’s people are using you,take advantage of you, and don’t pay you a penny. When you get home, you should be relax and enjoy doing activities with your family! WFT can’t give you a peace of mind!

      It’s better to join an army than working for WFG. Joining the army at least they pay for your shelter and food. You can serve your country, and defense those that you want to defense. At the end you might become a hero like Putin or Hitler lol. Never fight for WFT, they just don’t deserve!

  138. Well it is clear that many people have had a bad experience in WFG. It is also clear that some have not. It is obvious that you are not in a good organization if your upline is taking or trying to take your warm contacts. That is a no brainer and if that is your experience with them then of course you would walk away with a bad taste in your mouth. This may be quite common as there are many greedy people out there.

    My experience thus far: I have not went to one meeting nor have any intention on going. I was invited to go to Hawaii and hey just maybe I feel like going and laying on the beach or checking out a volcano. We will see about that one. My SMD has not asked me for one name nor would she. Instead she has said go get your license immediately so you can go and start selling products. She has not recruited one of our mutual friends but instead has signed up a couple under me. I have so many warm contacts and my friends are getting their license currently and once they are finished I will set them up with some of my warm contacts as they need the money much more than me. I only plan on placing people in products that will benefit them according to their age and their capabilities of actually being able to properly fund the product. It has to be a win win for everyone or it just doesn’t work for me.

    So as you see there can be generalizations made about companies but not every one will give a complete and full in depth picture. As I had said before, it is about the people working around you. If you have a number of greedy, unethical people around you then yes of course that branch/arm will be disastrous. Unfortunately, in these kind of business structures, you will see more of these qualities come out in people as the nature of the game is to make money.

    I agree with why Rob came back to the WFG organization…. to help people with their finances as there are some good products out there (and much better ones than my financial advisor is pushing on people). So I believe his intentions are honorable and not greedy so I wish him lots of luck.

    I believe the moral of the story is don’t give up any of your warm contacts and if your upline is trying to get these from you then you should question being in that organization altogether. Why waste your time being a part of a team that doesn’t function as a team but instead focuses on the ME aspect.

    Good luck to all.

    • So…
      Christie you claimed in an earlier post you made mention that you make $250,000.00 a year. Additionally you are taking on a responsibility here of managing a team of wfg recruits under you.

      This whole concept is ridiculous. You doing this is like the CEO of McDonald’s deciding one day to become the crew chief of a shift at a single store and get paid $12.00 an hour. Also after two weeks somehow you have decided there are good and bad products at wfg. Also being able to deduce some people have good and bad experieces. You also mentioned earlier you were going to attend a meeting and report back to us here, now you say you have not attended any meetings.

      Your whole story is really starting to sound very thin. You words sound like another planted story by a wfg cheerleader just with a different spin. Trying to be smart but tripping yourself up.

      And like many many others above. The blog is not discussing how much money a higher level wfg employee can make from exorbitant fees and commissions taken from poor unsuspecting people. The blog is trying to focus on bad experiences with World financial group.

      No one cares about about your possible trip to Hawaii or other posters idiotic references to banks or Bill Clinton. They are all distractions. Also your reference to “generalizations” is stupid. The people posting are real life experience situations.

    • Some of your spiel

      Sounds like “insider WFG talkingcpoints”.

      The entire WFG business model
      and training is all about

      Recrui, recruit, recruit news
      Contacts from your new contacts
      And sell all new recruits and their contacts as “warm leads”
      “referred by your new recruits”.

      It is the essence of their MLB
      Pyramid model…

      Very little or no time is spent on training in and/or discussing their products they sell.

      The actual 3rd Party Vendor products “sold”
      are an afterthought and/or annoying footnote that must not ever get on the way of signing up new people and promising them a “get rich quick scheme”…
      Or the pyramid collapses and you are out on the street as a former WFG agent..

  139. Paul,

    Let me clarify some of your comments and presumptions as I have been completely honest and not throwing negative comments towards anyone on this thread.

    “Christie you claimed in an earlier post you made mention that you make $250,000.00 a year. Additionally you are taking on a responsibility here of managing a team of wfg recruits under you.”

    True about the pay. I work full time as an ICU nurse. I own a corporation that I started a couple of years ago. It is in a speciality field that I have built around my parents multi million company. Since I haven’t been in business long I only grossed 200k last year in it. I also carry a salary from my parents company as I get their equipment spec’d with the engineers and I put some of their jobs together. I have started some importing which I tied to my flipping business which I do on the side. I have a separate company for this. This doesn’t even count any of my developing so yes I am easily making 250k a year. You don’t have to believe me. It really doesn’t matter. I have not wavered in any of my comments. I have always stated that I really didn’t need a lot of money and that my intention was to help others out. That has always been my contention. I stated I didn’t really have time doing something else or committing to anything else. I don’t really plan on managing anyone at all. I have no problem in helping anyone though. My SMD is a good friend and she will help my friends as the intention is to help these people and she knows I am limited on time. Crazy how people actually work together.

    “Also after two weeks somehow you have decided there are good and bad products at wfg”

    Yes. Is that so preposterous? I feel that your view is completely slanted if you only think that they have bad products. I was completely skeptical at first with WFG and have reviewed some products including fees and structure and have made an educated opinion of some of them.

    “You also mentioned earlier you were going to attend a meeting and report back to us here, now you say you have not attended any meetings.”

    I have stated from the beginning that I wasn’t into any rah rah meetings. I never wavered on this as well. I stated I had planned on going to a meeting with my SMD in order to get some information about the products. I did not meet her that day but met up with her at work in order to get information. I did report back on one of the products that I got information on and compared it to another product. Again all true information.

    “Your whole story is really starting to sound very thin. You words sound like another planted story by a wfg cheerleader just with a different spin. Trying to be smart but tripping yourself up.”

    Where have I tripped myself up??? I have just been completely honest AND unbiased. I am not cheerleader for WFG. I am just providing a viewpoint from what I see. That is it.

    “And like many many others above. The blog is not discussing how much money a higher level wfg employee can make from exorbitant fees and commissions taken from poor unsuspecting people. The blog is trying to focus on bad experiences with World financial group.”

    I thought this blog was about people’s experiences. I thought that is what this entire thread was about. I was just simply giving my experience thus far and my opinion so people wouldn’t get mixed up in a bad crowd of people. My whole point was to help others out whether they decide to walk away or join. That’s it.

    “No one cares about about your possible trip to Hawaii or other posters idiotic references to banks or Bill Clinton. They are all distractions. Also your reference to “generalizations” is stupid. The people posting are real life experience situations.”

    I never posted anything referring to a bank or Bill Clinton. I don’t understand why you are throwing out idiotic and stupid comments. Those comments serve no purpose whatsoever. What is your interest here??? To actually help people or hurl insults and call people liars etc. My Hawaii comments were basically again how I am not interested in going to a meeting at all unless you throw something cool in it like Hawaii. Come on lighten up a little. I understand you are passionate about your position and that is great. Let’s just be constructive about it and not try to tear down people but instead build people up. And if it is your opinion that WFG is completely terrible that is totally fine. I just don’t think it is conducive to call people stupid or a liar.

    Have a great day.

  140. Dear Christie
    I think I’ve explained myself just fine many times over in this blog.

    It takes many years for people to comprehend investing itself and investing products. You seemed to have done a crash course in 2 weeks.
    So you now know how to differentiate between a good annuity and a bad one? A well suited, good low fee insurance policy from one that is not suitable. The correct funds to offer clients. You have been able to look over WFGs products and make those determinations in two weeks and have your friends working under you offering those products. Please!

    What did you compare WFG products to? Did you also in those 2 weeks go sit with Edward Jones? Investors group? Vanguard ? Someone thinking of selling MLM themed investment products should get interviews at all these places. If your that interested why not do a real securities course at a university? Without the proper tools, I’m sorry you can’t make product suitability decisions. Most Wfg people can’t either. They are financial salespeople taking the bare minimum licensing needed to sell. Let’s face it they are just people pulled off the street. Most have no idea what they are selling and the real costs to the clients.

    Let’s get real here.

    • Please, Don’t act like these WFG Reps have any product knowledge whatsoever.

      If you are invited to one of these so called seminars with their group, then you will notice it is just
      a cheesy slide show in a hotel room or meeting hall

      and they just lay on the religious revival BS real thick
      and throw out talking points like

      If you want to be a winner, then join us
      If you want to be a loser or a wage slave then go work for a regular company….

      Complete baloney.

      Never share any product information.

      People at the gathering don’t know squat about the products they are pushing on people…

      Don’t care about the customers…

      They are in the hunt for warm bodies for their MLM downline
      so they can get on the “get rich quick” scheme and bandwagon….

      Totally unprofessional environment…..

      Like WWF Wrestling only less entertaining and more expensive if you buy into this BS…

  141. Paul,

    Yes I was able to review two of their products (one more in depth) and yes I was able to make a determination if it was good or bad. Yes it takes years for many to comprehend investing in general. I have a few years of day trading under my belt, dabbled in commodities, dealt with options, have a long line of investment history and managed investments for many of my colleagues so you can say I have a little more experience than most. I have been investing in real estate for about 3 years now so I think with my history I have a pretty decent grasp of investing. My portfolio is better than most. Funny you mentioned Edward Jones. I have people coming to me for my advice and as don’t trust their Edward Jones people. People have been coming to me for years to assist with their investing as they don’t understand it at all.

    I have suggested other avenues for people here to make a living and get ahead in life. I have tried to be helpful. Anyways, there is no point in arguing.

    Have a great day.

  142. […] My Experience With World Financial Group – Financial Uproar – My cousin just got sucked into this recently, which is why I started looking it up. He was here just last night giving us all a big sales pitch and gushing about this …… […]

  143. Congratulations, we had over 11000 people for picnic in Hawaii.

    • Jump on board the latest “get rich quick scheme”….

      Will be looking for you on “American Greed”

      “Scandals, Scoundrels and Suckers”…

      Expose on unethical and illegal business practices…

  144. Just had the unfortunate experience of dealing with WFG and let me put this whole thing to rest. Illegal? Probably not all branches, but I’m sure some are just months away from law suits. Unethical? For sure. Scam? You bet-ya!
    First off, most of the people that are “in training” probably have a hard time tying their shoes. These same people will be attempting to pass their Life Insurance exam in the next few months, if they don’t quit. And why would they quit? Probably because they have come to the realization that the person that brought them in has zipped through their “top 25” list and sold to everyone they know. This is not uncommon in the financial/insurance industry…..you start out selling to the people that you know and who trust you. The difference here…..the person who is training you has only brought you aboard to steal all of your good leads while you study to pass your exams. This is how their system works; find someone who is down on their luck, get them to buy in to the “you’ll be making so much money” b.s. that everyone preaches, and turn in a list of your 25 friends and family so that your “mentor” can sell them a bunch of products. And here’s the best part……the “mentors” are in some cases a person who just obtained their Life Insurance license a few months ago and is pushing IUL on every person, regardless of their situation!
    But I was not fooled……I actually knew something was amiss the first time I met the person that was trying to recruit me in’s partner. He tried to limp his way through the “3 bucket” retirement pitch that a lot of reps use, but during his pitch he gave a lot of misinformation to try and make the IUL seem like the best “tax free” solution out there. I asked him, “what about a Roth?” His answer…..you’ll have to take minimum distributions. Really? WRONG! Come to find out, he’s only licensed to sell Life Insurance….no 6 or 63. So my question to all of you WFG supporters (and obviously working there), can a person with a Life Insurance policy discuss mutual funds and investments? NOPE. And there-in lies the problem with WFG. These people are brand new Life Insurance Agents, trying to give you advice (bad advice) on what to do with ALL of your finances. But as all of us licensed financial reps know, a life insurance license does not make you a financial representative. But since most of these idiots will have a hard time getting past the life insurance exam (1 guy in particular had already taken it 2 times and failed), good luck on the 6 and 63! And the trainer’s, put in charge of giving an hour’s worth of training on certain nights? No 6 or 63 either, yet they were talking about doing a full financial plan for individuals, and, of course, selling everyone the IUL. This same trainer even told me, “Don’t worry about actually selling too many things, the real money is in recruiting people under you”, which, as we all know, is the exact definition that FINRA and the FBI use in describing a pyramid scheme.
    It’s only matter of time before enough law suits happen that WFG and Transamerica are forced to change their names again. If you are approached to work there…..run! If someone approaches you and wants to sell you a product, ask for both their life insurance and securities license number, and watch them run for the hills! It’s a shame that more people aren’t aware that you can find out everything about your agent/financial rep by simply getting their license number or full name that they are practicing under. FYI…..I looked up two people in this particular office in the Chicago Area….1 does not have a security license as he said, the other has only had his for 1 year and already has 3 complaints. Most licensed individuals go their entire careers without a single complaint, or possibly one complaint that usually is tied to a mutual fund underperforming.
    WFG trolls……I await your response.

    • @in the know

      Is it safe to say you are not one of the 11,000 going to Hawaii ?

      Nice post.

      • Yes, it was and its good to go vacation for free… not only me there were bunch of my business partners who went for free..

        # Awesome…
        Let’s keep winning…

        • What a waste of time. I guess the wfg cool aid was flowing and you received your cults most up to date marching orders.

        • Trip was not “free”

          Nothing is “free”..

          It was taken and paid for by monies overcharged to your customers
          for high load high fees products with lousy returns for your customers..

          Lawsuits by disgruntled customers are not free either…

  145. The other huge problem with WFG is that they push IUL’s on everyone, and that is a huge problem. IUL’s make only one person rich, and that’s the agent. The first 2-5 years of the policy, the premiums are going towards the cost of insurance, and, the premium paid to the agent. The agents are paid upfront for these policies, based on their size, so it’s no wonder that they push this product. The agent has made all of their money in the first year, and could care less about what is about to happen. And what is about to happen? The market. These snakes love to show the prospective client an illustration at 9%, with cash values in the hundreds of thousands by the time they reach retirement. The problem is, they also sell with this promise the ability to take money out to buy a car, or a new home, or go on vacation. But what happens if the market tanks, as it has, on average, for at least 2-3 years out of every decade. No vacation for you sir. New home? Sorry sir, the market is down.
    What they fail to illustrate, in their only the best of worlds illustration, is what happens in an IUL in a down market. And it’s during these times that The IUL is much more like an investment. It has the potential for higher returns, but it also has the potential, if the returns are not there, that the whole program will implode as the cash values are depleted by cost of insurance, policy loads, unexpectedly low interest rates, skipped or sporadic payments, or unexpectedly high loan interest rates (in comparison to the rate credited to the policy). And since most of these policies are being sold to who? Well, as WFG loves to point out, they are being sold to the people that the big financial companies don’t market to. You know, the people living pay check to pay check. What’s the chance that these people, when the market crashes and jobs are lost, are going to have that $200/month to spend on this policy? So, they of course are forced to stop paying the policy, it implodes on itself, and, you are out the premium that you spent the last 15 years putting your money into for retirement. Mind you also, that these snakes have also convinced you to underfund all of your other investments, such as your 401K. And have they talked to you about the other investment out there that can do the same exact thing as the IUL, the ROTH? Nope. Why? Because they can’t sell you one, they are only licensed to sell Life Insurance.
    So tell me, the WFG faithful, if the market goes through a correction or another 2-3 year period of being down, how have you helped the families of America? Once again, the only person that is safe in this reality scenario is the agent that already was paid in the first year. That’s why, in your best interest, you should find a QUALIFIED Financial representative. You know, one that has some skin in the game beyond the first year commissions.
    But as you will all see from this long post, when someone speaks the truth on WFG, they never respond. But I’m sure all the agents in Hawaii truly care about their clients who have lost their life savings.

    • # In the know….

      If you are looking for qualified financial representative who have been helping the people out there to have better retirement options. here is the thing, you should go back and see how many people suffered during economic crisis. I believe, people who had so called good retirement accounts were supposed not to lose any money….. but they did!!!.
      You should check the accounts of the people who have their so called IUL accounts since 2001 and now what they have. trust me IUL performed well then other accounts even during the economic crisis while many people lost their money, there was no risk at IUL…

      • Hi man,

        I thought you bowed out of this discussion.

        IUL’s are rarely a good investment and are high priced poor choices. But you know that and you are just protecting your golden goose.

        Rather than me explaining this read this link. I Can’t describe it better then this.

        http://www.dailyfinance.com/2014/05/15/indexed-universal-life-insurance-rip-off-bad-investment/

        • Thanks for your link paul, i think you should go back to the same link and read it carefully and oh .. don’t forget about the comments for that article.
          that guy even doesn’t have any clue about what IUL is, he only has idea about Whole Life.
          I think this guy is still in 90’s.

          hey guys time for smart phones….by the way does anyone use old phones???

      • Those who purchase products
        through WFG
        lost big time when the market tanked..
        Many even had can calls
        to make up the huge losing balances in their accounts..

        Don’t know how you can sleep at night selling lousy, high load and high fees products designed to make commissions and fees for sellers
        and designed to lose money for clientsentsents

  146. lol @Paul N
    you deserve a medal for keeping up and responding every message/comment here on this site, and wasting your time disagreeing/ agreeing with these ppl for yearS lol. i love that spirit! now go get a better life than that what you have if there is, but if not then stay like that. take care brother.

    • Well Said,

      Let them complain for next 5 years, 10 years, 20 years or 100 years, we will still be winning..

      • Who’s complaining? Just regular people telling their real life bad experiences with world financial group.

        And what is so good about your clients winning a free ride into poverty? You call that winning?

  147. Here’s another thing that the WFG faithful, like Paul, fail to mention. If you have a direct contract with Nationwide, which is one of the companies they use for the IUL, your payout will be much higher than under the pyramid scheme. Once again, they never answer any questions about their tactics…….and the fees that are charged in the IUL make it pretty even with a Whole Life policy with a good Mutual Insurance company, such as Northwestern Mutual, who have paid at a clip of 4.44%, year in, year out, with low fees. It may not look as promising as the unrealistic 8-9% shown in IUL, but all of those years when they are only crediting you .25% because of a bad market, Mutual companies are ticking along at 3-4%. Project that out over 30 years, and guess who comes ahead? You bet-ya, 4% steady with low fees. But WFG doesn’t care about what your risk tolerance is….they rely on the 8% column to suck you in. BUT DO THEY EVER TALK ABOUT THIS:
    …… when expenses in any given year exceed
    account value credits, and especially in the case of a
    universal life policy with underlying volatile elements.
    This will be the case with the “ups” and “downs” reflected
    in the hypothetical example of a series of “0%” returns
    in an IUL which, after considering policy expenses, may
    result in the policy’s inability to “carry” itself all the way
    to the death of the insured
    I never heard this in any pitch offered by WFG, but than again, why would they want to present anything other than the 8% column and collect their first year payouts upon the signing of the contract.

  148. Sorry Paul…meant to direct that at “Man”. To lay out why a IUL will not do well long term, here’s what the market has done since 1950:
    S&P 500 Losses of 10% or more since 1950
    Total Occurrences 28 Times
    Average Loss -21.6%
    Median Loss -16.5%
    Average Length 7.8 months
    Greater than 20% 9 times
    Greater than 30% 5 times

    As you can see, in a 60 year period, the market will be down on average every other year for at least 7 months. So unless your customer is on the risky side of the risk tolerance spectrum, a steady 4% would sit better.

    • #In the Knows= name? don’t be scared to write your name. This blog is one of my chat rooms, everytime I do something good, I like to help Paul and History888 I don’t know what his name is but to get more traffic for his blog so that he can earn some money from google adsense. Because they can not do any other jobs and find some easy way to make money..

      Can you provide me any source where you got all those numbers, it looks interesting. But if you are only talking about IUL and S&P500, I think you need to sit down again with one of the WFG associates to learn more about the products and comparison between the other products.

    • Nice to see someone see else here adding a new angle to this old topic. I’m surprised that only one person has commented on your posts though. Usually it starts a barrage of spam, personal attacks, or links to inspirational videos much akin to the late night evangelical miracle guys. Nothing factual just a lot of nothing.

      • @Paul
        you should be glad when I am writing something down here in your blog, or else nowadays nobody gives a crap about the blogs.

    • “In the know” where are you getting those fictional numbers? You obviously do not understand hind sight index strategy. As long as you can over fund (if putting premium at least at target), your policy will not lapse before age 90 or older. Dave Ramsey promote buy term and invest the rest. IUL is pretty much just that. You mirror the index using hind sight index strategy and other part goes to paying for annual renewable term. Here are actual rate of return on cash value portion of one of the IUL for last 20 years using Global Index (assuming you paid target premium or higher). 2013 – 13.48%, 2012 – 5.82%, 2011- 7.69%, 2010-9.52%, 2009-4.31%, 2008-0.75%, 2007-14%, 2006-13.52%, 2005-11.04%, 2004-12.7%, 2003-6.04%, 2002-0.75%, 2001-0.75%, 2000-12.8%, 1999-14.45%, 1998-12.12%, 1997-15%, 1996-14.87%, 1995-9.33%, 1994-9.58%, 1993-12.69%. Out of 20+ years, only 3 years 2001, 2002, and 2008 it returned the minimum return of 0.75%. Rest of the 17 years it averaged 10+%. How about real numbers from my mom’s IUL? First lump sum 10K annual premium returned 9.8% for the Aug 2013 to Aug 2014 Segment, and $8500 Sep 2013 to Sep 2014 Segment grew 11%. These are facts from actual policy. All I see is few people who for whatever reason complain about products that they have no proficency at and adding fictional data. I thought this was going to be a blog about good and bad experiences of WFG but what it really is few people defaming a company with no solid proof and novice level understanding of financial products. I complain about my uplines all the time and people who do this business the wrong way. That doesn’t mean this is bad company, it just means those uplines are bad people. Bad people are everywhere. Chase recently had to settle 6+ Billion in fines but you don’t seem to have problem with them.

    • “As you can see, in a 60 year period, the market will be down on average every other year for at least 7 months. So unless your customer is on the risky side of the risk tolerance spectrum, a steady 4% would sit better.”
      Admit it! you’re a whole life ONLY insurance agent for one of the insurance companies. That would be the exact line used by whole life ONLY insurer. At 4% interest, it will take 18 years to double your money. At 8% it only takes 9 years. In 35 years, difference is 4x the money. Who is Con-ing their client here? One that give 25% of full potential growth or one that gives back 100%. You don’t even understand the risk. Whole life’s initial illustrated rates have 100% chance of failing to perform at the rates illustrated. If you don’t believe me, pull up an original illustration used at the time of the sale and compare it the the current illustration that is 5 or more years later. I can guarantee you that current illustration numbers are lower than the one from the initial sale. Chances of 0% floor, 15% cap IUL has 100% chance of returning 8% or higher using any 20 year period in the history of stock market. Has more than 85% chance of returning 8.5% or higher. Chance of returning less than 8% in a 20 year period is practically zero. If you don’t know or understand the strategy, attend an independent finanical classes designed for financial professionals. Actual numbers do not lie. Only people do.

  149. WFG.

    The biggest ripoff going..

    Crap products
    sold by agents who do not know their products

    And do not care as long as they can load people
    Up with crap products

    With high loads, high fees and high commissions..

    Just wait until they next market downturn
    and the “cash calls”
    On the lousy WFG products…

  150. WFG.

    The biggest ripoff going..

    Crap products
    sold by agents who do not know their products

    And do not care as long as they can load people
    Up with crap products

    With high loads, high fees and high commissions..

    Just wait until they next market downturn
    and the “cash calls”
    On the lousy WFG products…

  151. There is something called contract law. People buy into those IULs thinking it’s for retirement. It’s not. It is an Annual Renewable Term police that they are buying. Their cost of insurance is growing every year while the premium they send does not become sufficient enough to cover it. There’s a reason why LSW is getting sued for telling their clients that their own IULs are retirement products. Read the contract, policy, cover to cover. The agent will only tell you what you want to hear.

    • @ why don’t you use your ream name…….

      I see you have some knowledge but not enough knowledge. If you are holding life license, make sure don’t give false information to the consumers. I would like to now more about you.
      you can email me at mlama34@gmail.com with all your concerns so that you can become my business partner.

      • @man

        You ask someone to use their real name but don’t supply one yourself?

        Nothing like asking someone to be the business partner of a nameless person in a business which will certainly lose money.

        • @paul

          search Man Lama so will know who is real and who is fake.

          There is nothing to hide with bunch of losers like you guys who hide under different names.

          Be a man.

          • You know your agent at WFG told me what I wanted to hear. Tax free retirement, money to my heirs, and money that I can borrow. I was looking through my policy and I saw the cost of insurance page and the guaranteed and non-guaranteed values. Being a bit concerned at how the cost of insurance grew every year I called WRL directly. The home office representative was courteous and told me that my premium was not guaranteed, my cost of insurance grew every year because it’s an annual renewable term with a portion of my premium going to cash value which was invested in an index. I asked them why does my guaranteed value on my policy show that it gets depleted in about 20 years? They said the guaranteed value gets depleted because my cost of insurance grew at that age so they would have to take money from the cash value to keep paying for my death benefit. So I asked the rep on the line what happens when all of my cash value is gone? Then they said that my policy would lapse and that I would need to pay more premium to maintain this policy. Needless to say I cancelled this policy. I had it for 1 year and I expected to get some cash value back. Unfortunately, the first year they said there was no cash value and even if it did I would have to pay a massive net surrender value to get the money out. I’m going to stick with my brokerage account at Merrill Lynch. Thanks but no thanks.

          • @man

            Shouldn’t you be on an island somewhere on the beach somewhere with all your wfg millions you have made instead of throwing out ignorant comments like that showing your low level of education.

  152. […] My Experience With World Financial Group – Financial Uproar – 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…. […]

  153. I’ve been working at WFG / TransAmerica for 5 months. Been brought in by my parents. I ended up joining right after High School and I’m glad they brought me into it.
    I’m still going to college for a major in Physics and Business Management, but since that will take years in the meantime, why not work somewhere that can make a whole lot of money without being ordered around by a boss? I see a lot of pissed, confused, educated, and so on people in this post. But from what I’ve personally seen, this can’t be a scam. Licensing by the state is required so I see no way for a scam to pass that I got my license after a few months after procrastinating for months, got appointed, and now I’m making money.
    Honestly, the only ones who are doubtful were the ones who never actually listened to someone who knew what they were doing. That happens, a uninformed newby goes and talks to all their friends and gives a bad name to their company. But once a person who has gained more info on the concept speaks, then everything is cleared up.

    Ask any question, being an actual reasonable question. I’ll answer it.
    Hell, visit the office in San Jose, CA. I’d be glad to talk there.

    • @Zachary B
      No worries about the multiple pasting of you same comment. That’s what you egg people do. Cut and paste the same blah blah blah BS over and over. Again… Yawn.
      Instead of saying how great you are post some facts or go away.

      • Facts on what exactly? It’s kinda hard to talk without anything being answered.
        Give a question then I’ll answer it. Also if a bunch of people say the same thing, there’s the chance that what they’re all saying is true.

        But I’ll go with what I know. We sell INSURANCE. No one wants to hear that but we do. All types of insurance. But we also have a special insurance that not very many companies know about from what I know. And that one has proven best in terms of investment long term. If you want short term cause of your health, go for term.

        WFG is under TransAmerica, TransAmerica is under Aegon. But that should be obvious. And a scam wouldn’t be able to last under 3 different companies without eventually collapsing.

        • I think you are focusing on the wrong posts. All your points have been refuted in the 400 plus posts above your comments. You cutting and pasting general statements won’t change the helpful information left here by people who have had live actual bad experiences with World Financial Group. To respond to you would only be repeating comments already made. Also many comments written much more clearly then I could. This is a great resource for people to stop by and read before purchasing wfg products.

  154. Paul, you’re an idiot! WFG doesn’t have products they are structured as a broker dealer/marketing company! If you truly want to know more, join, observe and learn – I did and am observing and learning. Here’s what I’ve found: The entire financial services industry is full of greedy and dishonest people – Wells Fargo, JP Morgan Chase, Bank of America, Morgan Stanley, Ameriprise, Raymond James, etc, etc, etc, .WFG is no different. If anyone wants to make money with WFG they must be willing to prospect and sell or concentrate on recruiting. The MLM strategy is nothing new. Not for all, but because it’s not for all doesn’t mean it’s illegal. I’ve been reading comments for this blog for months and have observed how all you do Paul is throw bullshit out so you get a reaction – perhaps your way to make money – who’s unethical here now? What do you of for a living anyway???? You seem to yawn a lot ! Jerk!

    • I’m sorry Claudia.
      Did someone empty your bucket of happiness?

      Does your calling me names like a 4 year old add credibility to the WFG cause? I think not. Again read the above comments. You can’t compare WFG to regular banks. It’s explained above several times already.

      Call me what you want, it does not change facts. You know, the facts you WFG fanatics fail to produce time after time. You only attack like you have here just further proving the posters here that they are correct. Did one of you prospective victims do a google search and land here before they lost their life savings to your misplaced attempt to “help” someone? Did you lose a commission? Too bad.

      What do I do ? You and I both know that doesn’t really matter to you. Your just trying to bait me into a fight rather than having the conversation about people’s bad experiences with world financial group. Enjoy your day. Maybe call up some family members and try to help them so you can all go down in financial ruin together.

  155. I’m a very smart 4 yr old ha! Smart enough to know when you deserve an insult! I dont know you or anyone else here but after reading so much BS here I couldn’t stay quiet! Just like a 4 yr old LOL. I joined WFG to observe and learn more about it – not selling via WFG. I’ve successfully sold financial products in the past and have very happy clients. learning about what I may want to sell to keep up with the market has always come before I sell anything. I am not convinced WFG is a great company to be part of – nor am I convinced about the ethics and practices of any financial services company nor any large corporation for that matter! You are just imagining I am one of “them”. Seek the truth and you will find it, eventually. It is not easy to trust our internet or blogs anymore to find the true information needed – too bad.

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