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World Financial Group Reviews

Legit or Scam?


World Financial Group (WFG) is a multi billion dollar financial services corporation with a hybrid business model.  It deals with several financial products including: Life Insurance, Variable Universal Life Insurance, Mutual Funds, Annuities, and Mortgages.

World Financial Group's hybrid model is very similar to that of Primerica.  It's basically the fusion of a standard financial services business with Network Marketing.  Meaning that they recruit and train new associates to go out and sell financial products while recruiting people to join the business opportunity.

Due to this practice many former recruits have called World Financial Group a Scam.  However, there is no way that World Financial Group is not an outright scam, it's a publicly traded firm that brokers real products.  Then why does it have such a notorious reputation? The reason that people call World Financial Group a Scam is because there are several downsides to this hybrid business model. 

First of they encourage recruiting and selling to friends and family. Second, although they screen recruits many lack a formal education, third, when recruiting they're often evasive and conceal the true nature of the business, marketing it as a salaried position, and finally WFG's varying product commissions cause some reps to give financial advise that would benefit them more than their customers.

People need to know what they are getting themselves into when they join the World Financial Group.  The opportunity requires investing heavily in your own financial education, which is not a bad thing.  Yet it also requires heavy sales and recruiting practices.

World Financial Group claims to have some very noble goals, such as spreading financial education to those in dire need of it.  The problem is that, at times, the needs of WFG reps to recruit and make money overshadow that goal and give WFG a bad reputation.



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Customer Responses, Reviews, or Complaints for 'World Financial Group'


Average Rating is 2.63 out of 5 based on 337 reviews.

Anonymous   Inland Empire, CA

2:29pm on March 1st, 2015 

The products and services are legitimate. I caution anyone looking at this opportunity to look at everything carefully, from the leadership, to the supporting staff, to the training (Weekly BPM's). I relate this opportunity to a product life cycle. Those that got in 15-20 years ago at its inception are the ones truly making money. Those trying to get in today, be aware of its decline, only very few will succeed with the high turnover rate. Which is why recruiting is constantly the focus, every recruit becomes your client, the more recruits you have the more clients you acquire. Not to mention their top 25 who happen to agree to meet with your recruits for their training (sales meeting for the recruiter). For those not licensed, they see no money despite spending their time, money, and resources to these meetings which are very few and scarce for new recruits. Especially when spending a few hundred to two-thousand dollars for licensing, training, quarterly meeting-training sessions, and annual conventions, with no returns to you until you're licensed. By that time, you've burned through your warm market, family and friends that no longer return your calls, let alone pick up for you. Remember the product life cycle, and proceed with caution in its decline with saturation of licensed agents making no money, not to mention your up lines pressuring you to make the calls for new recruits through job sites, or any source with resumes. For those who are talented enough and outshine their up lines, beware of jealousy and embarrassment to bring you down. No leader in this environment wants to be outdone by their recruits. As for the culture, there are some legitimate leaders and generous folks, however, tread carefully with the rest. Finally, for those looking to invest in the products or services, avoid this company and contact the providers (Pacific Life, Nationwide, and others) yourself.

Ryan   LA

12:53am on February 20th, 2015 

WFG gives one the greatest opportunity in America.

With proper education and on licensing one can create a successful business on their own terms hire whomever they chose to be associates under them.

If one then recruits strong ,educated licensed financial advisors he or she can build a honest business that provides quality service and money management advice.

Jonny B.   Honolulu

4:42pm on January 6th, 2015 

Beware they are not legit and uneducated agents and would not answer when you called. Their phone numbers are not working.

If you invested money from then get your money if you can reach them and run. If they won't give me my hundred dollar back I will report them to our Department of consumer affairs.

they are so rude. They won't even answer your calls and messages left. I submitted a dispute to my credit card company ...just beware...

Casper   Hawaii

4:32pm on January 6th, 2015 

All I can say is that I became a victim for people who did not even have proper schooling. They look innocent but they are thieves.

Just beware, don't give your hundred dollars.

Again, they are thieves!

Anonymous   Location unknown

9:39pm on December 31st, 2014

I'd question an an institution that gives someone with only high school education a marketing director title within 6 months of work.

Floyd Smith   Torrance

1:37am on September 6th, 2014 

WFG give you the product and the Training to help you succeed where you want to go that are not there to babysit you. When you fail to plan either you want to become successful of you don't
this is a Professional Financial Organization that has regulation just like Wall Street Banks, Stock Market etc. The company is here to protect your investment, not to destroyed just go ahead and put your money in Wall Street and I see you in seven year and see who be smiling se ya.

Anonymous   Location unknown

9:01am on August 15th, 2014

WFG has structured their business targeting weak people who are disregarded at their jobs, dissatisfied and people who knows that they have the capability to do well more. With that said, WFG will find people and recruit them and with all the words of wisdom shared on the meeting where they will meet people who are professionals (mostly by degree but are not licensed in the US) and regard them by their titles. People will feel superior after all these welcoming people and encouragements from the speakers. They will shower you with uplifting speeches and you will feel the burning desire to succeed with no one ever stopping you! Hey, thats WFG world... Now, back to the real world... Even the most highly educated, if sculpted thier minds to think that they are great and can do much more if they treat themselves as a business owner, will feel all the power and authority, which people desire and feel good about themselves. Reality, what is WFG? It is a multi-level marketing industry that handles hundreds of thousand people. If you thoroughly did a research, you will find so many things about it (positive and neg) yet, what do they really do? Yes, sell insurance. But heres the question, after all the encouragements and motivational speech from the weekly meeting, you recruit people to make them think they can succeed. Yes it is possible. Do they truly disclose the money that you can shes just to start up that dream? What if your are only a paycheck to paycheck and indulge yourself with these fees that you cannot even afford yet the mind is telling you to do it because every business needs and investment. Well, not a lot succeed but because you are already trapped in all those fees, leaving you to push through regardless your doubts within, you will because the power of mind is truly powerfuly. And that what they mold people from WFG. Dream! Dreaming is not bad, but to dream and forget about reality is living in a hypothetical world just like how most of the agents here are living. Yes they are licensed agents, but with the help of they key that thier upline gives before taking the test, it is often a breeze to pass. But do you really know that you are involving yourself in a career of financial business that is full of responsibilities? Not al lot of agents here has the product knowledge besides the presentation that they have to mimic and talk about aegon. In reality, wfg handles more than a hundred life products company and agents have not much knowledge about the product they sell aside from the IUL (Indexed Universal Life) or any sort of IUL. If asked, what if the hypothetical numbers that they have said the client went down to lowest expected and the client come after the agent, will WFG shoulder the fault? I dont think so. The agent will get in trouble. But hey, WFG has made these agents structure the presentation. If asked about deep Product knowledge, the integity that they give is very limited because they only know about the product that wfg knows it will sell yet that product has 0 guarantees. After years and years if payment, will this policy stay as what have discussed in the presentation? Those are all hypothetical numbers. Which means, its a dream to have. Sit down, and look back to reality and slap yourself. WFG has produced another Insurance agent. Yes, you can earn so much, but you can just sit and dream yet in reality, you have not helped yourself, nor anyone. I cannot explain how amaze I am with the structure WFG has built to encourage recruitment but dig down and listen to all your doubts about the company, maybe your gut is saying to be wise. Bottomline, most of these produced agents has limited knowledge for what they sell and only stand by on the belief what WFG made thier mind to believe. Thank you for reading this post.

ripped off former client   Location unknown

5:36pm on July 23rd, 2014 

in 2007 the wfg thief and conman fostin nixon advised me to borrow $20,000 from one of their affiliates to invest in what was to be my retirement.and so I filled out an application and handed it to my so-called adviser the thief and liar fostin nixon. The loan was approved and the $20,000 was invested and immediately fell to $12,000 and the thief and liar fostin nixon told me that that the stock market was very weak and it will go up. In 2013 they (wfg) made headlines in Toronto appearing on CBC news for fraud and a host on other charges that were brought up against them .This was when I found that wfg has been sued many times in both USA and Cananda and one thing that keeps coming up was the subject of leverage loan investment and that wfg has a nasty habit of fraudulently misrepresenting clients' networth. I contacted Franklin Templeton and questioned them regarding the losses to this so-called investment only to find that like the rrsp these losses were scheduled losses which has nothing to do with the stock market and that the losses were a result of money being taken by wfg and fostin nixon. When I contacted wfg to complain they told me that fostin nixon was not my adviser and that my adviser was nixon's supervisor francis thazhamon. I demanded a meeting with him and met with him on the 6th of March 2013. When I met this thief and liar Francis Thazhamon I told him that they are all over the news for fraud and many other charges in 2012 alone wfg was found guilty of inaccurately recording clients' net worth 8 times in ontario alone. By this time my investment was worth $15,000 Francis Thazhamon presented to me falsified documents stating that my investment was worth $25,000 and that he too had lost this investment and that I am making a big fuss over small matters. I demanded from Francis Thazhamon a copy of my loan application and the went away for about two minutes and came back with a sealed envelope and I took it and left when I got home and opened the envelope there was no loan application but a trading ticket so i contacted B2B Bank from whom the loan was obtained and they provided me a copy of the loan application only to find that Francis Thazhamon and Fostin Nixon both had a hand in falsifying my loan application after i signed and dated the application they both kept my application for more than one month in which time they falsified my financial net worth by over inflating it by $35,000. Both Francis Thazhamon and Fostin Nixon removed the date that I originally put on the application and initialed them several times. When I contacted their compliance office they told my that these two misfits did nothing wrong and that they would not advise me not to terminate this investment but to switch to some other investment that they have with Bank of Nova Scotia. I was tired of being lied to so I terminated and severed all ties with wfg. The only thing that Francis and Fostin did not do was forge my signature and they are dirty and dishonest enough and who knows when they will start forging signatures

ripped off former client   toronto

10:03pm on July 5th, 2014 

in 2007 1 met a conman and thief working for wfg named Fostin Nixon who told me that wfg and himself can guarantee 10 to 12% return on investment. I did not know that investments are not guaranteed and so I got him to open an rrsp with franklin templeton. I was putting $200 per month in this investment and every month like clock work $60 sometimes $80 was coming out of this account and when ever I contacted this thief and liar Fostion Nixon about the 0 growth and the money coming out of this investment all he did was say that this si happening because the stock market is weak. After six months I contacted franklin templeton and they at templeton told me that the losses to me investment were scheduled losses that has nothing to do with the stock market.They also told me that the money being taking from my investment is going to wfg and Nostin Nixon and franklin templeton also told me that this trend will continue for as much as six years and that that it will take as long as 8 to 10 years before I begin to see any return on my investment and templeton was very surprised that my so-called advisor Fostin Nixon did not inform me of these "scheduled losses" to this investment. I terminated this investment immediately

Fraudinvestigator   Mississauga

12:05am on July 4th, 2014 

wfg is a scam and the person who is running the Mississauga Location 53 Village Centre Pl, Mississauga, ON L4Z 1V9 Sam Tabesh and the rest of his CRUE Member they are too good for making Fake Documents and getting the people investment loan,I hope they get punished for it just for couple of thousand $$$ they are playing with people life, and future, they should be shame of themselves and I hope and pray they die fro every single penny in their life one day........ they have destroy my family life.... this is one of the BIGGEST SCAM......

Jeffrey Morera   Toronto

11:03pm on June 9th, 2014 

@Orlando Lopez (Former Agent
I will be more than pleased to debate.
First of all if you are looking at this forum now, notice the post is in 2014, last post was from 2008.

WFG is for Leaders and people with a BIG heart and a BIG vision, if you can't go out of your way to forget your own compensation and think aout the families and do what is right for the families then of course the business is not for you because I agree with Orlando when he is saying there is a flaw however that flaw is NOT IN THE COMPANY that FLAW IS WITHIN OURSELVES if we can't do something we bash it, hence the past 15 pages however that matter not.
What matters is to hold the name of WFG high and mighty because this business is changing the lives of thousands of people across North America and Puerto Rico. Training done correctly leads to an agent who is quite literally a walking insurance/investment company & bank, WFG agents are knowledgeable on how to utilize the brokerage system with dozens of other VERY well known companies in your area to create a plan and lifestyle for families in which they can retire properly and learn to stop paying so much on taxes where it is NOT necessary.
That is called being SELF-EMPLOYED my friend, however how many people can say as a SE (Self-Employed) they, at their fingertips have the access to the top banks portfolios, funds, insurance companies best rates on health, life and car insurance, home, motorcycle, boat insurance whatever you need, travel insurance. Funeral planning with a way to find the cheapest funeral homes in the area along with pre planning so when death occurs which is a given to happen at some time at least because of WFG now the family less of a headache. How many people don't know the importance of life insurance or get the wrong kind, yes i can sell whole or universal, whole might pay well however so does every other product , whatever fits the CLIENT is what is given to them. In every case done correctly, you can not compete against the WFG brokerage system, the motto: No Family Left Behind

That's being a SE, easy and doing what is right for the families while making yourself an AMAZING income, all of a sudden you learn that there is another way to make $$$$! Become a BUSINESS OWNER! Teach this method of teaching families how to properly manage their money, save on taxes where they don't need to be paying it, manage their debt, protect their loved ones, open the eyes of hundreds of families. TEACH another person to do that for other families and guess what... You just started a very small business .. you are a SMALL BUSINESS OWNER.. After that you teach EVERYONE to do what is RIGHT for the families as I mentioned above and you will see... the thousands and thousands of dollars you make through this company by just utilizing their wonderful system and having a BIG heart, helping others and a BIG vision that you will teach so many others to go out and do the same a you have done with your life and so many other peoples lives.

Look for me on FaceBook, Jeffrey Morera, check out soon for videos on youtube.

And even if you want to talk personally give me a call, if you're in the Grand Toronto Area maybe we can meet up 647895847.
Skyp: JeffreyMorera

Ven   Huntington Beach

8:41pm on June 6th, 2014 

WFG is for bright and smart people,
They do help everyone with the good product
Also everything it's highly regulated , no one can do the business without passing background check and you must be legally in the USA...!
So? For those who don't join it's okay, in life real life,we need people to flip hamburgers ...

YK   San Francisco

12:26pm on June 5th, 2014 

I joined WFG in Nov 2013. I can tell you that it’s not easy business like any other business. The money not growing on the trees you have to work for it and work hard. Yes, recruiting process is most difficult of all. I am working in the hospital, I don’t have a problem to recruit people here, but I have problems to recruit to WFG. The working in the hospital, I will say it’s good but “Welcome to slavery! And a lot of stress of being lay off one day”. Am I right! Computer programmers, car salesman, Bank workers. Remember, NOONE likes pre-retirement age people. 80-95% chance you will get laid off by the age 60-65. What are you going to do next??? To be happy retired person you need at least 2 million dollars. Ask yourself do you have it? Why people are calling WFG a scam??? Are these people highly educated financial advisers? of course not and people are stupid enough to read this reviews and judge the company. The WFG agents are state licensed agents who are helping people to save money, invest your money in the right place. Some people think they are know everything, but at the end (before retirement) they are in trouble. People are saying about pyramid scheme, my questions are: if are you buying the car, any car dealership look like what?? Pyramid.. You are working in hospital, how is your structure look like? Pyramid.. What are people are talking about?? If you are intelligent person, you won’t listen anyone, have your own opinion..

Jane Doe   calif.

10:31pm on May 29th, 2014 

I had a friend look into WFG to help save her home. She was told if she would pay 3,000 dollars WFG could help her save her home. Well, guess what? She lost her home and WFG never refunded her money. I think they are a scam.If this happen to you, what would you think? I have seen where the higher ups would pay for people to go to Hollywood for a convention to hear how to learn the force as they call it, and learn how to get people to recruit other people to go out and convince people that WFG can help people. Yah, right. just liked they helped my friend with her 3,000 dollars to save her home. Oh not only that, my friend was trying to save her home because her husband just passed away.

Roberta   NC

8:21am on May 6th, 2014 

One thing for sure...the web is a great place to get things off your chest. I came to know WFG through my oldest son who joined them last summer. He is a well educated young man with ambition, and found this as a way to make money on his own terms, while providing a reasonable way for people of modest means to create wealth. It may not be for everybody, but what is??? If you don like the company's structure, stick to your day job! I recently became an associate and plan to keep my day job also. This world is so critical of things they either can't do, or don't understand!

JB   Seattle

7:52pm on April 19th, 2014 

WFG is a ligit if they are scam the Fed would busted them by now.
By working in public places over the years, I have known many wealthy seniors have always told me to start invest when you young, saving & invest in life insurance a must .

CPS   Vallejo

10:54pm on April 10th, 2014 

If you people did a little research you will find that all insurance companies use the same hiring practice. Go ahead and search Craigslist in any city and any state, you will find State Farm, Farmers, and all the others trying to recruit people needing jobs, and then guess what....you find that it does not pay an hourly wage but an opportunity to get work there once you get your license, commission as well. Typically the only people that get offered a wage are the receptionists. This is America so anyone from any state can apply for a license with certain limitations/restrictions of course. Bottom line: There are good salesman and bad salesman but the bad ones are not following the training they have received and the slight twist to try and con you into working with them, however, there are many who are very good and honest and don't have to "trick" you into buying the products. WFG offers exactly the same products as any of the other companies, it is not a scam at all. Period. Anyone who says its a scam is a liar, plain and simple. Their negativity stems from a bad sales rep doing a bad job and then trying to manifest it into a scam. Typical bozo's who blame everyone for their problems. There are literally thousands of these reps trying to sign up people in any way they can and as quickly as they can. This is what leads to the "scam" or misrepresented statements you read. This business is built out of warm leads which is defined by family friends and acquaintances. All of them run out of warm leads really fast and then they are left with trying to figure out how to get some more leads. There is nothing abnormal about this. It is a common problem for anyone who runs their own business or is in sales. Its hard to do unless you have some legitimate sales and marketing training. All the companies including WFG offer this training and support and rely on the agents to use the things they learn, but most of these new agents skip on these details leading to misrepresentation, or not following the script. You know whats funny? I laugh at the people who do the reviews stating that they are "real" insurance people, with series 7 and other legitimate licensing....what a joke, they are just as guilty as all the people who they are pointing fingers at, Go ahead and sign up with Prudential, or any of the big financial boys, once you sign on they all make you give them 100 leads from your family friends and acquaintances and expect you to close them using the same exact sales tactics to get leads. The only ones that do not use questionable tactics are those that are established and have their customer base in place. Take my advice, research the products that are being presented to you whether its from a rookie or an experienced salesman, and make a choice on the product that you really need. Pay your premiums and enjoy your new financial tool. It does not matter who you buy from because they all get a commission and that's OK!!! These salesman earn their commissions whether they are experienced, young, old or rookies. Its just like leaving tips at a restaurant, if the service is good tip them and if your insurance rep says or does something stupid, tell them to calm down and give you the facts. I have personally been screwed by the well dressed smiling salesman with all the right answers as well, and its not their fault, its mine for not doing my homework. I for one have done lots of business with Wells Fargo, Fidelity, bank of America, Travelers, Transamerica and WFG etc. etc. etc. and they are all the same, exactly. The only real difference is in the fine print so look for what the true costs of it are (front loads etc.) I have a few products with WFG over the last few years and so far so good. It did take a few tries by the salesman to sell me but he learned that the harder he tries the more I don't buy. He finally settled down, gave me the facts and I compared and believe it or not he had a good product so I signed up for a few. He learned a lesson too about selling and that is do what is best for your customer and forget about your commissions. He is now a good friend. For those of you that say its a scam then you should be ashamed of yourself, its not WFG' or the salesman's fault, its yours. I'll leave you with this, the insurance/financial industry is heavily regulated so a scam is really not the right word, its just bad service you are all complaining about. Thanks for reading.

Hansel   Orange

6:11pm on April 10th, 2014 

I Agree with Chuck from Anaheim's view of what WFG is about. It's a churn and burn environment
First 3 days your excited
in 3 weeks your hopeful, in 3 months your anxious, the following 3 months, your effort gas time and money you spent for the pay I made more money flipping burgers. After a year you have burned thru leads (friends, family and ex co-workers) and your down line is waking up to the reality of systemic problems of lack of leads qualified leads and marketing support and beginning to starve for results. After your first year you need to find another solution then you quit, the branch closes after another year of business. 3 years has passed where the company devours its self then the cycle starts again with a new office. Only the main office or major branch is open feed from this cycle. The fact is nobody stays longer that 3 years, only the ones that started 7-6 years ago will stay.

Mr B   NC

9:40pm on April 7th, 2014 

Dear review makers,
I am not an agent, nor am I an insured from any insurance protection. I read all of the above reviews and would like to leave a moral comment out of all. You know what; If something unusual/illegal happens in US, FBI catches that. Don't worry about who does what, just work to earn your living and if you can work for others, make it-God helps you. Don't talk negatives, you have the option to keep away if you dislike. Someone doing something legal is already smarter than you, sooner or later you may need to follow that. Your whatever degrees are for your personal development and for nation building, not for negativities. Preserve your personality pl.

jasper conner   san diego

1:24am on March 12th, 2014 

I go by facts only not the "oh it happened to me" because fact is there is claims irs is a scam, government scams, mcdonald is a scam etc. However there is a company called standford financial group and that was shutdown due to ponzi scheme. However wfg lasted for over 20 years. Like any financial company they get inspected by SEC, FTC, and FINRA every year. Secondly any product that has death benefit and cash value which a wfg agent offered me is great in my book unlike my 401k. And recruiting which I was not interested is ok for other people if they like financials because recruiting is no different then hiring someone in. So I dont understand whats all the fuss is about. Lastly you can blame the agent but not the business that only makes you sound stupid

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