World Financial Group Reviews

milo doroslovac   Kichener ontario

Some people should go on You-tube and see what successful people like Robert Kiosaky has to say about business and network marketing. I`m tired of seeing unlearned lazy know-it-all dream stealers badmouth things they know nothing about. If you have any concrete evidence, produce it or otherwise keep your opinions to your self. A company like this i one of a few that is giving a great opportunity to average people of all backgrounds and social status. But i can see this would be a threat to financial institutions and people who don`t want to see others succeed. many will welcome the opportunity that was only open to very few in the financial industry. Go WFG!!!! and all marketing companies with great products and services. Don`t let these dreasm stealers get to you. If there is 900 complainers, there must be 100`s of 1000`s that are happy. get to work, learn all you can and make some money.

Cynthia Milan   Los Angeles

My husband just left a review, but I thought I should as well. We were both recruited to join WFG, and mortified by the atmosphere. It was very drink the kool aid...reminded me of Jim jones. My sense was that so called little people--blue collar generally uneducated folks--are exploited to sell unprofitable policies to people like themselves. WFG will be the next American tragedy:(

Rich milan   Los angeles

Avoid it like you would a cult because it is fun. Rock music, faux inspirational messages, lots of hugs and the proverbial hard sell. This place is bottom barrel tricking only the most stupid, naive or greedy into working for them. Clients beware--it's profiteering, and you'll get stuck in the gut to the tune of your home or car or savings.

Vincent Sanchez   Queens, New York

I may be just lucky to work for the top WFG office in the country, but I do feel for the people who feel cheated by WFG. The company is an Independent Agency System organization.

All our Agents have a large amount of autonomy in how they operate. There are NO QUOTAS, each agent can work at their own pace, and conduct business with whomever they wish. They are all required to have a State License in order to work in this industry. Most complaints here are Agent related complaints. In that case, find another Agent. Some Agents are less scrupulous than others, but that is the same for ANY industry.

Some people will just try and cut corners. But as for my office, I honestly believe in the sincerity of the leaders here. We have former real estate agents, former Goldman-Sachs advisers, small business owners and even a Doctor. These are professionals, and I'm lucky to be in this office. It will not be the same everywhere. The WFG suggested age for a recruit is 25, so if there 18 year olds in some offices out there, then someone cut corners and did something against company suggestions, and its showing a negative impact on their office.

Our Agents have a lot of Autonomy, and that can be good or bad, depending on the Agent. But our products are the best to be found in the Industry. I'd your Agent is not helping you, YOU the person by giving you a personalized Financial Dream Map as is expected to be standard in all our sales, then DO NOT BUY THAT POLICY. That Agent does not deserve any money.
I am very passionate about this business, so passionate I could cry talking about it. I've been homeless myself, and I know what it is to lose everything. Being homeless was also a great experience, I mean you eat less but its incredibly liberating. I don't mind being homeless again.

I'm not truly here for the money, or to be rich. I won't turn it down lol, but that's not why I'm here. I genuinely care about people as my own family. My own family USES these products. I'm glad my own mother is set up with these services.

The point is, if you are unhappy with this company, you have yourself to blame. Seriously. As an Employee or Client.

"Former employees" I've seen here are lying. Like one fellow who claim a QMD can give you a promotion for liking you. NO, you honestly have NO idea what goes into the promotion process, it takes paper work to be filed and processed and overlooked. It's a Corporate standard that has no exceptions, you MUST follow the promotion process or you WILL NOT get it. Every promotion is EARNED.

The paper work that must be filed and submitted to Underwriters follows a completely legal and Government Regulated process, hence.why each agents needs a State License to operate. The paper is clear as day. This is your policy. This how much it will charge you in premiums the first year. Second year. Third Year. Etc... How much you are expected to save up to however long your policy is going for. Each insurance policy is unique, and is uniquely drawn by an Insurers Underwriter based on your Financial particulars. If your Agent truly Conceals or Misrepresents information to you, they are Liable to what they say, and can have charges pressed against them if they over stepped their authority granted by the Insurer.

If you have a bad experience, as an Employee or a Client, it truly is your OWN fault here. The information is there for you, and if you were TRUELY lied to you have every right to press legal charges. So please do so. If you have not....then maybe you're exaggerating just a bit as an anonymous poster on a random internet chat.

Howard   Houston

If you won't even give your first name only for an on-line review I DONT WANT YOUR OPINION! Your cowardice speaks volumes about you. Much louder than your review. If you take the time, energy and effort to submit your opinions and to bad-mouth other people, their jobs and their companies, then you should also take the same time, energy and effort TO IDENTIFY YOURSELF! Just like I did.

John Huntsman   Houston

WFG is a fantastic company. They have some of the best and brightest minds in the industry, offering exceptional products and services. There is good and bad in EVERYONE AND EVERYTHING. It is impossible for a company as large as WFG to not have complaints. Don't believe me? Ask AT&T, Prudential, Ford or GM, Chase Bank, Walmart etc... You will ALWAYS have folks who are unhappy about something, nothing, anything & everything. Often they're the same one's who are never happy, who misunderstand most things and are usually just negative people in general. They are easy to find. Unlike me, most of the folks who've benefited from the program ARE NOT on-line writing reviews. But just like me, they share their good news & success stories with their friends, families and neighbors. I can assure you, that's what really matters and that's all that matters to us and I'm sure that's all that matters to WFG. I guess it really is true what they say: HAPPY customers DON'T call customer service!

Filip   Poland

Thank you folks for your reviews and heads up! WFG transferred its enterprise to Europe, which goes under the name of European Financial Group - EFG. They are associated with Aegon. I've been on a meeting today and while I agree about the need of putting your savings to good, financial use, I couldn't stop myself from thinking this is another creative way of the old Amway kind of doing business. Gonna stay away.

Vickie   California

To the people who have rated WFG lowly because they "tried" and were "recruited"... and think it was a scam.

I've come from a family of wealth who lost everything in the downturned economy. I too could not balance my paycheck and was working long hours to make the most money possible to ensure my own fortune was better than my parents.

I took the time to learn every opportunity that was given to me and soak up as much knowledge as possible and at 25 I was able to leave my full-time job (which was in advertising sales) and cut my 60 hour work week back to part-time. I think you must have a want to learn in order to understand what WFG is doing and you must be partially entrepreneurial minded already.

I was able to understand what stocks and downfalls my parents had left or had lost, roll over my own 401(k), re-evaluate my own finances, and those of my parents, my partner and help my younger brother better plan his way through college.

If you want an hourly job or a time card punching job where you will be ensured a certain amount of money, then this is not for you. But if you are like me and desire to learn finance and self-help but would never qualify to go into a business master's program...this is the place you need to be.

You are asked to use your own references to get through your training, and I have been very selective on who I talk to and don’t among friends and family. Most people choose to quit right at this stage and never receive any benefit.

Skepticism is normal and expected…however you must have some kind of open mind when you take any job or try anything new. I encourage the skeptical to learn before they turn away an opportunity that could have really changed their lives.

And for the record, I saw three different WFG Offices before I joined one that I felt was professional and up to my business standards. Like any good decision, you must think if over and evaluate where you feel comfortable.

Anonymous   Lloydminster Alberta

I have a friend who works for WFG and I feel sorry for him because he has become brainwashed.
- he knows nothing of finance or risk
- his friends are annoyed and want nothing to do with him
- if he made the same efforts with a reputable company he would do much better
- I also feel sorry for his clients

Harriett   Maryland

The WFG agent I met sold me life insurance disguised as investments. Later on she told me that she felt that there was nothing wrong for her to do and say anything to make a profit.

Michael Burry   California

If there was something lower than one star I would have selected it. It is unquestionably very bad as far as a place to get investment advice. You will surly lose a lot of money with them. While not technically illegal, the incentive structures very very strongly encourage unethical and illegal behavior, so operationally I would consider it in the same class as other illegal financial scams. They like things like variable annuities and really anything that has sky high commissions. These products have very low return rates and can even go negative after all the built in fees. Personally I would feel better telling someone to do mattress stuffing with there money as oppose to WFG, that's is how bad it is.

Mike   California

WFG exposes people for who they really are. If you are lazy, then it will expose you for how honestly lazy you are. People get really upset at that. Most of the people that are putting down a rating of one star are people that want to blame others/something for their problems, but the truth of the matter is that they quit on this business just as they have quit on many other aspects of their life whether it be school, family, marriage, etc. Winners will always find a way to win. Losers quit and push the blame onto others.

And for people that complain about recruiting, every industry recruits. The military recruits. Real estate brokerages recruit. Churches recruit. And WFG recruits. It's not exactly a new practice, including in the financial services industry.

Anonymous   Location unknown

E. ALLEGATIONS

1. Staff of the Commission allege that WFG:
a) approved the opening of the Leveraged Accounts when such an investment strategy was unsuitable given the clients’ personal circumstances;

b) approved the opening of the Leveraged Accounts which did not comply with the Leveraging Parameters contained in WFG Compliance Bulletins and/or Supervisory and Compliance Procedure Manuals;

c) alternatively failed to detect on a timely basis, or at all, the extent and unacceptable use of Leveraged Accounts being opened by WFG salespersons;

d) failed to act in a timely and effective manner when potential problems regarding the Leveraged Accounts were identified;

e) failed to properly supervise the activities of WFG salespersons in regards to the Leveraged Accounts;

f) failed to act fairly, honestly and in good faith towards WFG clients where Leveraged Accounts were opened;

g) continued to file deficient NRD submissions contrary to MSC Staff instructions;

h) failed to keep NRD and WFG records updated in connection with location of WFG salespersons;

i) failed to supervise adequately or at all WFG managers in Winnipeg in connection with their supervision over trading activity within their respective branch offices;

j) the conduct of WFG, as set out above, was contrary to the public interest;

and due to any or all of the foregoing allegations, WFG acted improperly and contrary to the public interest and that pursuant to section 8 of the Act as to its registration, WFG be reprimanded, terms and conditions on its registration be imposed and/or its registration be suspended or cancelled.
2. WFG pay the costs of the investigation.

3. SUCH FURTHER AND OTHER MATTERS as counsel may advise and the Commission may permit.

DATED at Winnipeg, Manitoba this 4th day of May, 2010.

Dogcom   Boston, MA

Every review in here is all bias because everyone who rated WFG with 1 or 3stars must be a loser.

There are only 3 steps, you go meeting, and bring people in for meeting and get license. While you study for your license you should go do more meeting with your upline.

If you didn't do any of these and make a complaint then you are just dumb.

Happy to be out!!   Corona California USA

The office I was a part of had as much office politics as a normal corporate America office which they state they want to be nothing like. The match ups or what they claim you will get business from involves you having to kiss up to your upline to get that business. Otherwise you have to look for your own business for 25% commission, you might get bumped up to %35 if your QMD/Broker likes you and does you a favor to bump you up. Don't get it wrong this is about selling you Universal life insurance or term life insurance. What better way than to get your family in first, then their friends and so on with the warm leads. Stop pretending to be some type of revolutionary company that is re inventing the business...LLLOOOLLLL. If you want to sell insurance go look at Farmer's or a real company that will not recruit an 18yr old to push you to recruit people for the sake of recruiting. I regret not having done more research and invested so much time and money into this "company". Yes they make you buy all kinds of BS materials because it's your business...LLLOOOLLL. Do not get a policy from this company you will regret it!!!

Pat Richardson   Winnipeg mb canada

I am a 59 year old businessman. My previous career is in Real estate I owned a Remax franchise. I was approached six years ago by a World Financial Group representative and shown the business model. I found it to be structured very similar to my Remax franchise. I was interested in the way the educated me in finances rather than just try to sell me a product. I was so impressed I flew to meet the them President Monty Holm. I researched World Financial Group like a business person and the long and the short of it is I quite Real estate to pursue a new career at 54 years old. To show you how serious I was my wife and I were making in excess of $350,000 a year in our previous career. My advice to you is if you are seriously looking at WFG do you and your family a favor and talk to people who actually know what they are talking about.

Shan   Alberta

I honestly think that people need to use their own heads and common sense. I have very mixed feelings on the WFG. I first met a rep about 1.5 years ago. She was just starting out. My husband and I are financially sound but I knew that there are things we can be doing to make our money work better for us so I wanted to hear what this company had to offer.

I really liked the rep that I was dealing with but of course being new she brought in a more experienced person to help her. This person was a bit pushier but quickly realized I wouldn't be bullied into buying anything that day. I knew that we didn't have the right insurance plan and researched the companies they were offering insurance from. From what I could find these insurance companies are valid and good so I went back and did purchase life, disability and critical illness policies through WFG. I feel a lot more secure now because when my first husband passed away we were really young and thought we had years before we needed to consider these things. Funerals are not cheap and raising small children on one small income is not easy.

The other aspect of WFG though I am still not sure about. I realize that the people at WFG work on commissions and I respect that. After meeting with the WFG rep a few times I think that she realized that she was not quite experienced enough to deal with us as I ask a million questions and take a lot of time to research things before agreeing to put our hard earned dollars on them. I was passed on to the head honcho of this office. He seems like a very nice person. Kinda. He tried to recruit me many times telling about how much money a person can make and how much he's made with WFG. He's been with the company for 18 years and it's changed his life etc etc.

Now I don't believe myself to be a dummy. I pay attention to details when my finances are involved. As this man is basically leading me to believe that he is a millionaire through WFG, he can tell me what ever he wants to tell me. So I told him that I would consider a place in this company for a few days and get back to him. In the mean time I would like to see a copy of his tax returns.... What? He says, a little shocked I'm sure. But then went on to tell me about his amazing accountant who gets him so many tax breaks and shows him to write off everything, and so on. I do realize he very well could be telling me the truth as he is basically self employed. But what really got to me was that I had started to notice that every time I met with him there was a 20 year old sunfire parked in front of the office. I had already figured out that it didn't belong to three of the other reps that have been in nd out of there, but one day I met with the head honcho when he was there alone and that sunfire was the only vehicle there.

Bells ringing big time. There is nothing wrong with driving an older vehicle. I certainly don't run out a buy new wheels every 2 or 3 years. But I happen to know a few self made millionaires. To be honest, yes they do own older vehicles. A person doesn't get rich by throwing their money away. These millionaires also own Escalades and the likes. When they are trying to sell their companies to others they are not rolling around in the 1997 Ford Escape. All financially smart people know that money attracts money.

To top that off, Mr Head Honcho tells me that he is doing me a favor. He could charge me as much as 10K for his services but he's doing this for free. That being said, if I don't follow his advise he can fire me as a client. I in turn told him that I will consider his advise but I also know that he isn't doing this for "free" as he claims. Every time I invest into one of the companies he presents to me whether it be insurance, investments, high-interest TFSA he is getting a cut. I also let it be known that I may not know everything about the way $$ works but I'm not ignorant to it. In the world of finances guys like him are a dime a dozen and he can be easily replaced. If he continued to try to bully me into doing things without the time to think them over and check these ideas out, he would be fired as my advisor.

Neither of us has fired the other. I think that the services that WFG offers are valid and needed but I suggest doing your own thinking. If you are struggling to put food on your table and a rep is telling you that you need to put $200 per child away into a fund to support post education, the advisor is obviously more worried about themselves first. I think that everyone should have a high interest tax free savings account but when told to put my dollars in high risk investments I said no thanks!

If it doesn't feel right to you, say no or I need more time. Remember, this is your money and your life. If you go under it's really no skin of their butt. They get their cut when you sign the papers and hand them a cheque. They don't lose if you find out that you couldn't really afford to do it.

madifellforit   ca

How is this company still operating? I am beyond annoyed I fell for it, but hey, live and learn right?! I should have know this company was a complete joke from the beginning. Their "office" along with their cheap furniture is a huge red flag right there. Also, everyone is always talking about how much money they're making and how the company "completely changed their life." If the big boss was even somewhat close to being that millionaire he claims to be, he would definitely not be wearing a cheap suit. I like how in one meeting with him he said he doesn't go to work for the money anymore, he wants to help middle income families change their lives. But in another meeting he said how he's going to focus and concentrate on work for the next two months so he can have enough for a down payment for the house he's going to buy. Yeah..a supposedly "millionaire" at the age of 40 but his suits looks extremely cheap and he doesn't even own a house. Majority of employees don't even have a college education, yet they are supposed to be able to provide financial advice?!!! I like how their mission is to help middle income families. Its sad when these middle income families they supposedly help are actually dumb enough to fall for their little scheme. More like they take advantage of the less educated middle income families who don't know any better. Stay away from this company at all costs! Don't waste your time and money.

John   San Diego

Yes WFG is a legit company and an MLM which is fine. However they are let's call it sub-product brokers. The same type of products that crashed the economy now. They focus heavily on Whole Life policies which work more for the company they broker for instead of the client hence they get bigger commissions for selling them. They also use to focus heavily on sub-prime and negative-am mortgages because commissions were higher even though they were able to sell traditional fixed rate mtgs. Again having their best interest for them instead of the clients.

WFG is a broker and chooses to push you toward the product that will pay them more money. Nothing different then most other companies out there. This is the main difference between WFG and Primerica. Primerica does not offer any sub-products, only the products that are in the best interest of the client. However Primerica get paid less in commission because of the products they sell are geared toward the client benefiting. As mentioned above sub-products have higher paying commissions.

There are many good companies out there that offer products that are in the clients best interest. WFG is absolutely not one of them. Know all your options before you buy from anyone.

sexy   california

WFG as business entity is legit. You may encounter some agent that's not up to your standard and that's perfectly normal. I think that's true for other company or financial institution in general. WFG people are still human and
can make mistakes and have short comings. But I don't think it's fair to make a general assumption that WFG as a whole is a scam
or not a good company. That's it's not fair.

I think everyone should be given a chance to explore this company because I believe their mission is truly for helping people.

For the product side, WFG is just a broker. If you are not happy with the product then that's an issue with the provider. If you are not happy with the service that's an issue with your agent. But please don't judge the company.