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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 2.60 out of 5 based on 320 reviews.

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

Been around   Seattle, WA

8:41am on March 3rd, 2014

WFG is not a scam or a pyramid. They actually help middle class to high net worth individuals with a comprehensive plan that helps their clients. They are more interested in helping than New York Life, and and Stock brokerage firm. No good deed goes unpunished though because there are ignorant dumb people out there who don't know a thing about money, insurance or investing and they are scared to do the right thing and guess what? They end up losing all their money because they are too dumb and inexperienced to recognize a good thing when they have it! WFG is a company that doesn't push one product, they have the best products from the best companies. Wealthy people understand this and so do intelligent people. It's only dumb people that can't see the value with WFG. But they never will be wealthy or intelligent so at least someone tried to educate them.

ThinkerDoer   chicago

7:14pm on February 18th, 2014 

You can google any company and come up with negativity...if that is what you are looking for. WFG is a great company for people who want to run a business. If you are employee minded and don't want to change, it is not for you. WFG is changing the way the financial services industry works, THAT IS WHY THEY RECRUIT. Jobs recruit, universities recruit, the arny recruits, lol. WFG sits down with everyday people and helps families. They have access to over 140 companies so they can offer you something you can afford based on what you say you need. As opposed to those with quotas and limited financial products, who have to convince you that you NEED their product. Stop being afraid and see for yourself.

Michele G   Los Angeles

11:17pm on February 17th, 2014 

Lots of variables to consider before getting involved with WFG.
Funny how that most of the leadership out of the El Segundo location are either gone or in a couple of cases locked up.

A k   Surrey

11:09pm on January 10th, 2014

I think it is legit.

Marty   California

10:30pm on January 6th, 2014

I was approached by a friend who has just started at WFG looking to recruit me. I was unable to get a clear understanding what the job itself entitled.

The job itself isn't really something I would be interested in doing, but I have read through several responses on here and it sounds like it's 50/50 on peoples experience with the company. I don't feel like joining in something with that kind of risk. I myself do have a college degree, but I know my friend who has just started there dropped out of college to work there. I am a bit curious to there hiring methods, do they really give anyone a chance regardless of education or past experience?

Bob   TN

11:09pm on January 5th, 2014 

Mona, you spelled LOSERS incorrectly.

Unemployed   CA

11:54am on December 30th, 2013 

Having been recently laid off, a rep from WFG called stating he had been given a copy of my resume as a referral from a trusted person and had a job opening for which I was the perfect candidate. After repeated questioning, it took him several minutes to disclose he found my resume on CalJobs. (Misrepresentation #1).

I further questioned him if he read my resume and understood my qualifications, education, work history and licenses--which he said he did and I had the experience required to fill an opening for a financial advisor. My career has been in banking, lending, real estate and compliance; not as a financial advisor (Misrepresentation #2).

Then I asked if he was the person who could make a hiring decision or if he was a recruiter for the company. He avoided answering the question by stating he wanted to invite me to a meeting where I could learn about the company--the perfect set-up for a MLM.

If they start out with two misrepresentations and avoiding answering direct questions, then there are too many red flags to even consider this company any further.

Mona   California

5:34pm on December 27th, 2013 

For the many people who are trashing WFG...I feel extremely sorry for them. Unfortunately, this is a free country with freedom of speech. Having said that many financial services brokerage and other competitors who can NOT compare with the products that World Financial Group has to offer, does an unfounded negative write up about the company. I suggest do your own research. World Financial Groups, Financial Backer, AEGON, who is publicly traded in 8 different stock markets, including the NEW YORK STOCK EXCHANGE is backed up with over $550 BILLION in assets. In addition, I saw WFG's write up in the FORBES MAGAZINE in OCT. 2013....an 8-page write up. If you're INTELLIGENT, I'm sure you can figure out that FORBES MAGAZINE with their impeccable reputation and credibility will NOT risk their solid reputation and credibility unless WORLD FINANCIAL GROUP is solid, credible and reputable. THINK ABOUT IT!!! Don't listen to the LOOSERS....because once you listen to them, then you would have deprived yourself, your family and your kids with the BEST products, allowing you to prepare yourself for a better financial future.

Chuck   Anaheim

2:59pm on December 18th, 2013 

I am a Financial Consultant working for a major bank. Series 7, 66 and CA life licensed. BA Economics from a UC school and currently working on my CFP.
I am blown away by the people WFG recruits and allows to go out and invest people's money. Although legal, their multi-level marketing is morally questionable and only lines the pocket of the person on top. New recruits will burn through friends and family and then eventually go back to flipping burgers. Just terrible.

Churn and burn new recruits and their family members is the business model.

Jena   South Florida

8:57pm on December 9th, 2013 

As an operations research scientist, I think WFG's Business Model is fabulous. It gave them the shortest path to sell more Life Insurance which makes life insurance more affordable to everybody.

The model:
(Option #1) If you have NO money but have a lot of education, work for WFG part-time because you have the brain to approach people and set up a plan for them.
(Option #2) If you have money to buy perm life, buy it now don't wait too old and too sick to get the insurance because life-insurance is a tax-free beneficial to you (the tax-free cash growth) and your survivors (the proceeds)! Either way both you and WFG would be benefited!

(Option #3) = Option#1 + Option#2

Anybody selling life-insurance is considered a creep. Yet when somebody dies of a sudden sickness in a family, they wish they listened to the agent who passed by their door 5 years ago!
You cannot call a business model a SCAM when they deliver what they promise!!! "SCAM!!!" I wish you would be MORE responsible when you spit that word out of your brain!
I have just joined WFG 2 months ago. I wouldn't call that licensing exam easy! When I joined, I met majority good honest agents and 1 wreckless agent. The bad one happens to be my upline so I have to work around him and protect my friends from him (it is not easy!). That would not stop me from working for WFG because WFG has a SOUND BUSINESS MODEL! There are not-so-good people everywhere. Not-so-good ones can use your GOOD model to do their own thing. How can you screen them all? All insurance agents are screened also by Department of Finance of your state, and by credit agencies, and background checking! It is the public's duty if you think the government screening and WFG screening didn't do a good job. You should report that agent to the department of finance and WFG and get him suspended! But you cannot call WFG a bad company based on some wreckless agents. On the other hand, if not WFG's great business models have been pushing the secured financial products, a lot of families would have run into financial meltdown because of poor financial planning or buying the wrong financial products!
Finally, Life Insurance is the most honorable thing to own because you are actually storing away your riches in heaven giving God a mean to take care of your survivors, your schools, and also how much you are willing to take responsibility our own life.

If I were you, I would consider myself lucky visited by a good WFG agent because they do recommend great products like GIUL from very strong company such as WRL: a great product to grow your cash reserve at the same time you can borrow from it (low or no interest) like it is your bank plus a great death benefit to help out others!

sam   atlanta

6:54pm on December 3rd, 2013

Yeah this lady at my job keeps from World Financial group keeps pressuring me to buy insurance and even went as far as showing me bank deposit rolls in her phone "proving" just how much she makes every month from her recruits. Her business card has MBA by her name but I'm certain her degree is an undergrad in a different field than business. If I didn't know any better I would have thought I should jump right in with her in order to earn tons of money.

Mj   Pa

7:28pm on December 2nd, 2013 

Total scam, Very creep people, as a insurance agent you don't go around recruiting people, that's how they make there money, no one actually is a real agent selling to anyone, Why would you trust anyone at this place?

Ed   N. California

1:49pm on September 24th, 2013 

I started my training with Transamerica WFG it's seems like a legit business. I see all the negativity comments but i don't care what you all say, I'm going to dedicate my time by educated myself and get license to try this out. However, I will be on top of my game if at any time i feel like it is all a scam and I will go no wheeee from here then I will quite. Doesn't hurt to try and I have nothing to loose besides maybe $200 from the fees. Wish me luck! Super motivated! And ambitious as i em.

WFG insider   California

3:12pm on July 28th, 2013 

To Elizabeth Monterey

WFG people cheat and lie through their teeth all the time. That so-called "boss" is NOT hired by WFG for sure. He just wanted to recruit u and eventually sell you or your acquaintances some lift insurance by claiming it is a "JOB" or hiring. Why does WFG tolerate such unethical practices? WFG only cares the end result -- how much life insurance they sell. WFG is not liable for any of their independent contractors' actions as a financial advisor. As a self employed person, the contractor carries all of the risk. If you conduct business in a manner that is unethical or make a mistake or do something illegal, the SEC is coming after you personally, not WFG.

Scott   Location unknown

6:34am on July 28th, 2013 

"janice wilkes". They did it because it is NOT a legit JOB and there is why they cannot even post it in any job board. The trick you described is a well known. When a WFG cult member tries to recruit their own friend or family member, they use the same trick. They will tell whatever their friend and family members want to hear in order loot them into the cult. Once you get in their office, they will try to brainwash you to join them. At the end of the day, they want to sell you some life insurance. That is in their blood!

janice wilkes   Location unknown

5:09pm on July 23rd, 2013 

I got a call from a person because they saw my resume on career builder.com The person did not tell me there name. The person did not tell me the name of the company (WFG). Until when you get inside the place and attend to the orientation. They began to give the name of the company and they tell you there ways of being successful. Once you complete the orientation, you meet up with one of the managers. Therefore the trick is that you have to pay 100 dollars to complete the application. I left and I did not want no involvement from the company (WFG).

CM   San Jose, CA.

2:32am on July 7th, 2013

To: Chris Pratt, Sacramento, CA

Not everyone at WFG is just concerned with making millions, or broke! Many agents are actually there to help people.

And, not sure what your relationship is with the Asian lady... There are different mixes of people working as agents, and only those who work at it after they get their licenses make money. Most I've seen do drive very nice cars...

As far as your even asking someone else to pay for your own background check-- that says more about you than them!

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