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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.

Mr. ?   Glendora

10:53pm on January 2nd, 2011 

I love to sell insurance to uneducated individuals!!! Keep them coming!!!

ok linda   los angeles

6:09pm on December 30th, 2010

ok linda so you're smart,have a degree(s) and you still sell this costly insurance? do your clients a favor and sell them right! not to mention the tactics they use to get clients and the conventions are all just for show!

Linda Bee   los angeles

2:36pm on December 30th, 2010

This company is great, I get to sell insurance to my family for a lot more than they would pay if they just bothered to check out other companies. But since we have the "family" warm market strategy, it's easier. I mean why bother to actually research or help someone research what insurance company is cheaper and legit. Naw I'm with WFG, and I'm in too deep.

Linda Bee   Los Angeles

2:20am on December 30th, 2010 

Wow reading some of the comments, you would really think the company is a scam--I have a degree and a license. I feel sorry for all those individuals who believe that a degree means that the person is reputable---are u kidding. College degrees do no make you a reputable person! Secondly, all companies rely on referrals- business basic 101! This company helps middle america, because with all those degrees comes a cockiness in some people especially financiers! Well WFG is great because I was able to talk to average people who work daily--I explained some very important concepts and helped some families that were so very happy. Most of these families would be overlooked because they do not fit the profile. I am so happy that I joined this company and love what I am doing --take a good look at this company--they are definetely going to the top! And for all those who think you have to recruit--you do not, I have a cousin who has been in the business for 10 years with wfg- with all of his securites licenses and he never approached me, not once! I joined the company through someone else and told him I wanted him to check this company out and found out he has been a rep for 10 years! He makes plenty of money and does not recruit a soul!!!

m   ca

1:26pm on December 29th, 2010

If I were you I would look very closely at the type of people that have posted. I see people that rate it very low and people that rate it very high, not very many people that give it a middle grade. Now compare the content of the messages. Did you notice that the people that gave it a low rating rarely give it a fighting chance? they go google it click on scam and give it up. They wouldn't know a credible source if it was standing in front of them. FINRA, SEC, Better Business Bureau, Aegon and 340 BILLION dollars in assets mean nothing to them. These people are negative and usually close minded but deep down inside they know and I know that they gave up on themselves and blame the company for their lack of success...they are ignorant, small thinkers and without a change of mindset i am sadended to say they will never succeed at anything.
WFG is my favorite place in the world. I graduated from a pac 10 school with a physiology degree and am now in a top private medical school and thanks to wfg my loans are minimal, my schedule is flexible and I have a passive income. In my office there are lawyers, cpa's, ministers, cops, mechanics, full time mom's and the best friends i've ever made.
I'm not saying that all WFG offices are great, it's always good to keep an open mind in both directions there are good people and bad people in EVERY industry and EVERY company but the potential in WFG is as big as you are willing to let it be.

Good luck everyone.

Patrick   Here

7:45pm on December 21st, 2010 

Watch out for the PHP recruiters also, the guy Patrick Bet David use to work for WFG and now took his "act" and went rogue! Same deal, recruit you to sell insurance to your family, friends, dog, cat, etc., then when you can't make a living at it, you quit, they keep the insurance and the company scores! If you want to sell insurance work for Farmers or something, and even then shop around and find the cheapest quote. I was quoted with PrimeAmerica and they are exxxxpeeennnsive! But WFG was no better, but make sure it's a reputable insurance company otherwise you might not get your money when a tragedy occurs!

U know   Over there

4:32pm on December 21st, 2010 

World Financial Group owns Western Reserve Life, which is the main insurance they push, I wonder why?Before you do business with these people, check to see if they are who they say they are. Some of them have been reprimanded by the SEC and still remain in the organization doing business, what type of company allows this?????

La Verdad   Not there

12:18pm on December 21st, 2010 

Yes, pyramid,Sure keep pitching that angle,at least the "pyramids" I work for pay me to work, not the other way around,Keep taking money from the ones looking for opportunity.

Anonymous   Location unknown

1:13am on December 19th, 2010

When you all say pyramid scheme ...you all have forgotten that a pyramid is built from bottom to top(like the work you all do, you work for your boss, so they become rich and stay on top of you)and not from top to bottom where a company like WFG does(using the top knowledge one to built a team and teach them, so every one who is at the bottom goes to the top)..

Chase Away   Los Angeles

1:26am on December 15th, 2010

Imagine your accounts are managed by a part timer, you trust this person with your entire life savings but they dont have a degree, studied for 52 hours (1 week) and now is licensed to MANAGE your life savings. You call them about your account, but they are busy at their full time job and cant really do anything for you, You call their office and no one picks up because everyone is at their real job. Then, they try to recruit you and say you can do the same.

La Verdad   Around...

7:20pm on December 14th, 2010 

If you breathe, they will hire you...you take financial advice from someone that was last week flipping burgers...? You should be careful what office you work out of also, some offices are ran better than others, and the POMONA office, well check out who you start doing business with first, before you start.

La Verdad   Everywhere

2:40pm on November 24th, 2010 

Stay away from the Pomona office...more info to follow from La Verdad.

Interested   Party

11:02am on November 23rd, 2010 

Okay, so I'm being "recruited" by WFG. I use that term just to relate to the conversation. Here has been my experience. I was approached by a WFG representative. She and I had a casual conversation about nothing in particular. Most people discuss what they do for a living as "small talk". She told me she was in financial services. This peaked my interest because the more information you have the better off you are. Anyway, she gave me her contact information and the conversation eventually ended (we talked about a lot of different topics including football, travel, astrology, etc). Mind you, we were both on vacation in Mexico.

When I got back home I sent her an e-mail so as to "stay in touch". I was hoping she could share some of her knowledge about financial matters. We shared a few more emails and then I began asking about mortgages. She provided some insight and the conversation led to her recommending I speak with someone local to me since she was in CA and I lived in MD. After giving her my phone number, someone from the local office called me to arrange a financial consultation ... free of charge. When this person came to see me, he asked all the relevant questions and took my financial "picture" back to his office so that he could form a path I should follow. At our next meeting he detailed what he felt would be a good allocation of the funds I had and how to plan for the future. Along with this information, he indicated to me that if I were interested in making "extra" money, I should consider coming on board with the company. He told me about the flexible schedule, he told me that I might be able to build the business to a point where I could leave my current job but he also told me I wouldn't have to in order to build the business. Months past during these meetings. At no point was I pressured to make the modifications that were recommended nor was I pressured to join the company.

In the interim, I kept in contact with the individual I met on vacation and she in turn, continued to check in with me. Once I, emphasis on I, decided that I wanted to pursue the company's potential for myself, she put me in touch with individuals that would help me decide if the opportunity was right for me. All along I have been told what to expect, I have been told what is required of me, I have been given no false pretense about any get-rick-quick schemes but I have been told there is potential to become financially independent.

Just like with any business venture, you have to be open-minded enough to listen to what you're being told and mature enough to ingest that information and make a decision for yourself.

Sure, there will be agents that work for WFG that don't do things the way they should. Look around your present employer. I'm sure you'll find these types of people there as well. I hope this information has been helpful to you if you're trying to decide whether of not WFG is right for you. Maybe your 'recruitment' experience has been better, maybe it's been worse. Judge for yourself what you're about to embark on including your own commitment.

Take care!

John doe   Philly

2:13pm on October 26th, 2010 

College has sent you all to work for the wealthy.

Antonio   San Francisco

1:22pm on October 10th, 2010 

I think, a petition should be sent to the Dept of Insurance, to check out and advise the public about WFG and Aegon responsibilities to the public and so on. I'm more than certain Aegon would not appreciate this type of publicity about their partnership with WFG.

Rebecca   San Francisco

2:26am on October 7th, 2010 

Although WFG may appear, to some, as a scam or Pyramid Scheme, it is actually a good way for people to learn about finance. The trainers at WFG do not claim that this is a get rich quick scheme. They impress upon the new recruits, as well as the veterans of the biz, the need to be mentally tough and resilient. There are many people who knock this business before even giving it a chance. If you want financial knowledge or want to own your own business, WFG can provide you with the tools to go in either direction. If you think you are going to walk in and make money right away, you are barking up the wrong tree. As far as the 'out-of-pocket' expenses to get licensed...it takes money to make money. The benefits will be worth it if you conduct your business with honesty and integrity, as it all boils down to the individual agent and their conduct...not WFG as an entity.

Darren   California

3:29pm on September 24th, 2010

I was contacted yesterday on my cell phone by what I suppose is a WFG rep. My phone said "private caller" so I let it go to voice mail. I listened to the message and the caller mentioned seeing my resume on the internet and that I might be a good fit, but did not mention the company name; Red Flag number 1. I called him back this morning and found out it was for WFG.

Now, I'm a licensed architect with absolutely no training in the financial arena. So why is a financial group interested in an architect? Furthermore, simply being as architect is evidence that I don't know much about wealth since architects are the most underpaid of all licensed professionals. Red Flag number 2.

I researched them on the internet today and have not been pleased with what I've found. The general idea I get from researching WFG is that it is MLM in one shape or another. Red Flag number 3.

All I need to hear is the word "up-line" once and I've heard all I need to. I nearly blew off my best friend from high school because of an MLM scheme years back and I'm sure not going to subject myself or anyone I hold near and dear to that again.

Paul   Indiana

4:34pm on September 23rd, 2010

I want to comment on so much I do not know where to begin.
I see this company trying to provide people an entry level way into the industry.
Visit your local bank or investment firm and ask, what takes to sell investments; you will be surprised of the scrutiny they will go through before you are able to sell.
The background checks and fingerprinting are for the publicís protection, one of the many steps taken.
Check FINRA they maintain a database for you to check out the broker.
I have seen people brand new to the industry sell investments that paid the broker more than most people make in a year. This does not make this new broker less worthy of the sale because this was his first paycheck. This person was in the right situation to make this happen!
Edward Jones, TD Ameritrade, have different distribution and marketing systems in place, this does not make them wrong just different.
People do make 14,000 when they are properly licensed to sell financial products it is true.
Spend the time effort and money so you can be in a position to help people and yourself.
I have NASD 7, NASD 66 securities licenses, Insurance licenses for Life, Health and property and casualty that cost over $4200 to obtain. It cost money to get into this industry!
This is not an easy industry; the turnover rate is very high. The reward for hard work is very good.
Take responsibility for yourself, check out the people you are choosing to do business with.
The best to you all.

Dianna   San Jose

6:05pm on September 10th, 2010

I read this portion of a recent comment:

"you must have your series 6 license to sell the majority of the products and pass the anti-money laundering course all paid out of your own pockets"

After the money laundering course, would anyone stay with WFG? The more I read, the more uneasy I become. If a friend of yours is involved with WFG, do you really think that the police (or SEC enforcers) will not be knocking at your door to ask questions?

I have registered total non-interest on this business since a member of my household got involved with WFG. However, that has become less and less of an option as I read more. I must ask, where are the supposed watchdogs on this? If people working for WFG must be licensed, then they're open to scrutiny by some fairly impressive boards and investigatory agencies; that being the case, is it just that WFG skirts the very frayed fringes of the edges of the law, or are the number of "scam!" cries sour grapes?

Smus   Toronto

12:13am on September 8th, 2010 

The problem is people don't get this. WFG is not a scam. Doesn't mean you go on google and type "wfg-scam" and click on something that's it. People must have an open mind when looking to go forward with a business like that. Second of all the company is not about selling or recruiting, it is about financial education. Educating people, telling them stuff they really did not know. Yes you do make money, infact alot of money but you're getting paid not for selling something to someone No, you're getting paid well for doing you job well and potentially saving a family from the cruelty of this day's financial industry.

Let me ask all of you a question, If I told you you had two options of getting paid for doing a certain job. First is salary, and second is compensation. Would you work harder on your compensation job or on your salary job. Ofcourse you will work hard on your compensation job and that is the reason WFG has that system. They want you to do the best you got for every family you have a chance to sit with. And the moment you keep money in mind, you will probably make money but never will be successful.

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