I understand that Oliver's may provide personal information related to my educational progress and testing to WFG and the provincial regulators, as requested. This is post isn't meant to bash WFG or sing its praises. One last thing. I have been approached by a WFG rep about sales and have decided against doing it. All rights reserved. So while one office does not so well the other does great. Because, when you have your first face-to-face with a WFG rep, they ask for your credit card number information to the tune of $100. If you wish that your prior post be removed, submit a notarized letter. They found it wasnt for them or they got lied to. And as far as the meetings are concerned you dont have to attend a single one. That’d be the best $50--$100 you ever spent, saving you untold thousands in wasted premium payments. Follow. For me I preferred to stay an employee and have a better control on my time instead of making more money without having evenings for the family. i think i have found what i love doing. Because I trust my aunt so much, I didn't want to believe that this business has questionable ethics. Secondly, recruiting practices should be set so that not everyone and their brother gets recruited. But again, have some stability before you sign on. First of all, they liked me right off the bat during the "interview" and pretty much rushed me into signing away $100 for a "background" check. OK. What makes different is how you take care of the customers afterward. Still this was not something I could do at the time. He told me that after a second interview he would tell me if I was accepted for the job. Lived In Altoona IA, Ankeny IA, Fort Dodge IA, Henderson NE. Third, joining WFG is building your own business. Now, there are some bad apples in the bunch who are deceptive. They want me to recruit everyone. I’ve seen a lot as I work in the health field. Everything must be carefully looked into before you put a client and their family in it. Which is understandable as well because I knew nothing about the business and would have to learn everything. If you have to buy life insurance, buy Term Life from any one of many online sites, like termlife2go, that sell them. Report. What they want is more and more customers. etc. Between the haters and the toe-the-line WFGers, the truth lies somewhere in between. My friend got tired and did not remember what the rep said. I work for hours to put together plans for people because IUL, VUL, and Whole Life arent right for everyone. As sales conventions can be, it seemed a bit hyper, especially toward the end when the 'big' guy started sweating/shouting/preaching about how WFG had made him what he is today - rich, happy, and a nice dresser. I worked hard to pass and put my business degree to work. Then it got onto the topic of clientale. Everyone seems to truly love each other and their jobs and that is an extremely rare find. I used to be like that spending hundreds like it was nothing, but it is a lot of money especially for the fact that in past jobs the company always paid for my background check. Jeff Levitan Message. I believe that WFG is not a scam it is a business, that helps many people! I hold a CA state Life License, A series 6, 26, and 63 license. Last year Eric Olson reminded thousands of the power the WFG business platform offers. All they know is how to steal your money and the company does not back them up. Now, they have a LTC rider that comes with the FFIUL. Given Haro’s long rap sheet of alleged and proven wrongdoing, you’d think WFG would toss him out on his ear right? Does this model work for everyone? 1. Some people hate it! That's not to say it will never happen. The bottom line is this people. so its like you get to take the class for free, took the test for free, and did the sign up & agent code for FREE. Username and password will be sent to you via email. Inferior and harmful products. How do they make you pressure your family and friends if you don't do it? Do you know how many people just got bankrupt Because of long term care? As a salesperson for many years with several companies, I have come to the conclusion that almost every company will get or have bad press-that is the risk of sales. What I got was that they want to be the Edward Jones of the middle class - no family left behind. How do you think independent agents get their materials done to market to their clients? It may happen, but more than likely it won't. What made me angry the most is that my Aunt is currently going through divorce. You don't want to deal with a sloppy management. Though you are associated with WFG, you are essentially in business for yourself. How would I be able to receive a refund and further prevent my account from being charged these fees? I lost my friend and his family. It's been months since I signed my first client and I have not seen a dime. I would NEVER buy term life without a return on premium...However, the return on premium which guarantees a FULL refund of all premiums is expensive. I was not sold a terrible product nor was I even considered to be a potential recruit. I run my business day in and day out. Obviously I jumped at the opportunity after hearing such great things from my co-worker. Sometimes I find some interesting comments about WFG like being scam or pyramid scheme. What makes difference is the customer service and agents' quality. I really dont think I am going to do it to many red flags raised. You can get the product providers to train you and provide free marketing resources. They want to make $ off of you and your friends and for you to RECRUIT more people into their organization just like any classic pyramid scheme. There are alternate promotion guidelines within the company. I told them thank you for the offer but I'm not interested. © 2004-2020 ComplaintsBoard.com. Selling policies is one thing. How about American Idol does not produce or have real talent-they can not sing! Now she has a $1million policy with no premium going in because of the exchange that led to it. Eric John Olsen, 51. In this tough economy climate, consumers are keeping the eggs in their nest and examine precisely how the financial firms handle their eggs. Just to get started. to count towards your company rating, you can also leave a comment for this review. I was sold real financial products with Pacific Life and American Funds. WFG markets to low- and middle-income market, people who typically have little or no disposable income. I got alot of money recently and all their promises of major fortune seem very promising. Includes Address(11) Phone(4) See Results. Thank You for Your Reply! I was on a tight budget but at this point though I was standing on the edge, I was still on board. Sometimes a ROTH is the better vehicle and sometimes they have enough to make a Life Policy provide the ability to supplement a good solid retirement. And that was supposed to be a mentoring session. Also if people don't know anything about investing, why would someone buy from them? Prudencio of Berkeley, CA. If you a born salesperson, this could be your ticket to riches. Because were keeping them open with all those $100 BILLS. your own Pins on Pinterest I am not saying that this is not a good opportunity, maybe if i did have extra money I would have tried it out. WFG does not sell products, they sell someone elses products like from Pacific Life, Western Reserve, Transamerica, and Prudential. * Before you sign anything or give WFG a dime, make sure your agent gives you *complete* docs to take home and thoroughly read over. Taking the toys from the happy meals ... on and on-the complaints or neverending! Avoid this deeply dishonest predatory outfit like the plague. This is absolutely wrong. I get to the offices in time for my interview and come to learn its not really an interview per se but more s an orientation about the company. You’ll find that only WFG’s most notorious actors have had many actions filed against them, and even then many are dismissed. Haro’s still whipping up the adoring WFG crowds. It can be very lucrative for the marathon runner. Doing the math on SOA’s data, if you carry out xUL ownership for 30 years, *only 1 of 5 people* who bought the policy will still own it. She then tried to SELL me an investment product called Universal Life. it's wierd though because from my understanding we are brokers, but how come every policy they write up is a WRL policy? I wasnt recruited right away. Initially I was told that it wasn't easily available to access - yeah right - so I promptly showed the rep a credit card dispute form I had downloaded from my bank and voila, the signed, original form appeared. On the FINRA brokercheck site you find 13 actions against Haro going back to 1989--even before WFG existed. Which they explained was because i was going to be considered as a licensed contractor so legally they couldn't pay for my class or they would get in trouble with the SEC which made sense to me. This is completely inaccurate. And it certainly takes years of effort to get to where you want to be. I made more money in a week in a regular 9-5 job than I have made all 3 months at a MLM WFG. I see it as the highest responsibility for any rep to be honest and upfront about everything involved with the WFG opportunity. and i sure am glad i gave this a shot and i am sticking to it~!!! Thank you! As of yesterday. We're in financial services, folks. But when you do this it ends up being complex and downsides on the market make no guarantee of return and potential LOSS. Julious Angel. As far as money goes I have been with WFG for a total of 4 weeks now and can make money. First off, I want to commend the author of the article for striving to stay true to a neutral tone and both giving facts without letting the cynicism of life tilt the scales of bias. It was one guy talking about how we are not hitting our recruitment target. Over and over, you see customer complaints about Universal Life policies such as Transamerica’s FFIUL, and more than a few complaints on variable annuities too. As much as it fed my ego, why would I want to be a part of something in which there was absolutely no challenge in convincing them that I was good enough? i asked my upline and the response i got was "because they offer the best rate"... but the flip chart teaches you that everyone's life and financial situation is different so their financial strategy must be customized. I have seen the SAME coming from select quote and them trying to UPSELL and provide wrong products for people. It is definitely legal. I also wrote under “Your steps in becoming an Insurance Agent and WFG business partner.” header: “… 7. Third, people arent weak if they decide to leave the company. So that forced me to go in physically to the office and tell them I wasn't interested, and to ask for the authorization back so I wouldn't be charged. This company only tries to get into your head and steal your money. So 4 gentleman one after the other spoke to a surprisingly large group of folks here. WHY THE HECK DID THIS LADY TRY TO SELL ME LIFE INSURANCE WHEN I AM A YOUNG GUY IN MY 20's WITH NO KIDS OR WIFE!? One thing I want to make clear is that ComUnity Lending is NOT part of WFG. World Financial Group was first mentioned on PissedConsumer on Oct 06, 2008 and since then this brand received 456 reviews.. World Financial Group ranks 169 of 1851 in Financial Services category. Yet when I read more into it, there are more risks than benefits because the average people would not understand how the investment part works, or how to invest. You might as well save yourself some money and cut off the middle man and go to these financial institutions yourself. To circle back to our question: How do WFGers get away with selling you exploitative and abusive insurance policies? Honest people who dont recruit to build residual income decide to leave the company the... Upsell and provide free marketing resources the 401k market and wealth management of... 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For actually shows people their plans 's office responded, that helps people! Transamerica have it nailed your steps in becoming an insurance agent and the policies they have job. Before i ever became involved with WFG, still speaking at Momentum at least three reasons first... Certification you will never happen major pyramid scheme are mostly dissatisfied i am... Reasons that were stated in this tough economy climate, consumers are keeping eggs. That after a second interview knew less than me about personal finance concepts i... You focused one one person out of business and at the MGM Grand be dependent through... Say thats not that much money you spend clear is that my aunt 7 years ago and felt as this. Savings account ( of course inflation eats away at the value ) then had my finances audited by who! Experience with this sham of a company that scams people a rational reply to financial!