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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.

SUSAN AGAIN   ATLANTA

12:57am on August 4th, 2009 

IF YOU ARE LAZY --- DO NOT JOIN WFG

it is not for everyone. but if you are a hard worker and you are coachable and very open minded - then this could be for you.

for all you dummys who keep calling WFG a scam ----- JUST SHUT UP ALREADY!! IF YOU WEREN'T SO LAZY IN THE FIRST PLACE THEN THINGS COULD OF BEEN GREAT FOR YOU BUT THE ONLY THING YOU KNOW HOW TO WORK HARD AT IS THAT DAMN MOUTH OF YOURS. ARGG!! ENOUGH ALREADY!!

Anna   los angeles

12:47pm on July 31st, 2009 

Do not believe it!!! My husband and I put $3000 at least in this company, but we didn't get a penny from them.


Gerry Yang   Sacramento

7:15pm on July 30th, 2009 

Life is not easy and there's no short cut in order to succeed. Even in high school, not everyone graduates or succeeds...It's because they don't really want to. In college, not everyone finishes either, could you just call it a scam like this business? What about the ones that graduated? Would they call it a scam? In life, u have to go thru it and really want it in order to achieve it. Most importantly, u got to have the passion for it or else u will end up quitting and will not be able to see the beauty of it. Remember, whether it's WFG or other businesses out there or just going to school or life in general, it's not important how u start from the beginning it's more important how u finish it.....Therefore, scamming only exist in your life if u fail or not succeed. U got to give yourself more time to really push yourself over the hill to see the beauty of the business or whatever you're doing...and if still not see it then, it's probably not for you. Try something else...It's your mind that will create your success whether you're in WFG or any other businesses out there, alright!!!!!!!!!!

ELOY   ORANGE

1:32pm on July 25th, 2009 

ONE SMART PERSON RECRUITS A GARDENER OR A MECHANIC(NOTHING WRONG WITH THESE TWO PROFESSIONS I WAS A MECHANIC AND A GARDENER SOMETIME IN MY LIFE), MAKE THEM WEAR A SUIT AND A BLACKBERRY, SELL THEM A DREAM ABOUT HELPING PEOPLE(AND THEIR POCKETS). GO TROUGH HIS FRIENDS AND PICK THE ONES WITH A GOOD JOB AND TELL THE NEW RECRUIT TO ASK THEM WITH HIS TRAINING, A GOOD FRIEND USUALLY DO WHATEVER IT TAKES TO HELP A FRIEND, SO HE ACCEPTS, AND THEN HE IS COOPERATING ALL HAPPY TO BE HELPING HIS FRIEND, WHAT HE DOES NOT KNOW IS THE GARDENER AND HIS "LEADER" ARE THINKING ABOUT HELPING THEMSELVES WITH THE COMMISSION OF THE SALE, USUALLY $6OO TO $1.200 GREEN USA DOLLARS, IS IT FAIR?, EVERYTHING IS HAPPINESS, THEY WILL TELL YOU LIES LIKE: WHAT A BEAUTIFUL FAMILY YOU HAVE, I LOVE YOUR HOUSE, YOU GUYS MAKE A NICE COUPLE, ETC.ETC., BUT WHEN YOU START TO SHOW NO INTEREST, THEN THEY GET MAD AND BECOME PUSHY.

FIND OUT BEFORE YOU JOIN OR ACQUIRE A PRODUCT!, READ ALL THE COMPLAINTS AND LISTEN TO THEM!, TOO MANY PEOPLE CAN NOT BE WRONG.

Jess   Pomona

1:43am on July 23rd, 2009 

I keep hearing people refer to this as a scheme/scam/pyramid. First of all, this is a "business". Any business you must invest in it. If you open a McDonalds, Burger King etc... you need to put money up. And any franchise, you need to invest thousands in it first. This is not a job. Most of you people say that why should you have to pay to get a job, well you're right. If thats what you want, then go get a "job". Let some one tell you when to be at work, when to go home, when you can take a vacation and if they allow you to take time off to take your kids to the doctor.
Secondly, we work with reputable companies. We provide a service, which I may add, if you want to walk into a Payne Webber or a Bear Stearns, they won't want to talk with you if you don't have a quarter of a million dollars to invest with "them". The investment does not go with WFG. We are a "broker". Just like when you go get auto insurance or homeowners insurance.
Thirdly, recruiting is a choice, not mandatory. So if I want to go out like a real estate agent and work on my own production, then thats what I do. Just like I did when I did real estate. But I "choose" to "build" a business. This is a free country and if you don't want to join, then don't. It's that simple.
I do realize that not all people have what it takes to be their own boss, but for me, I refuse to be anyones "Robot". Most people need to be guided and told what to do. That dosent make this a "scam". It just makes good business sense.

Jeff   Las Vegas

4:58pm on July 14th, 2009 

I've seen the good and bad of this company. Educating the public on how money works is an admirable goal. However, the need to recruit and make commission often overshadows the educational goal, leaving many recruits feeling angry and cheated. It's not for everyone, and I would feel much better investing with someone who does not want to recruit me and simply loves what they are doing. Why would you invest with someone who does not seem as reputable as a professional who has been doing it for years - AND who actually has money so they know what they are teaching? Experience it but beware - there is usually no way to make money EASILY. If you are going to work hard, might as well do something you love. I don't know too many people who LOVE selling life insurance. Save it for the pros ....

Lucy   Riverside

4:41pm on July 13th, 2009 

WFG is a great business, but requires hard work and dedication its no get rich scheme and provides alot of training to their agents. I seen it with my own eyes how lifes have been changed, I personally know one of the ceo's and knew him when he had nothing. I am proud to know him. And please this company can't be compared to Primerica. Primaamerica eats WFG's dust.

anon   Los Angeles

8:30pm on July 6th, 2009 

Anytime a company has to go out and recruit like crazy and the company can not sell it self to possible candidates then something is really wrong. The people are brainwashed and I think its sad when people prey on the emotions of individuals who are going thru the thing we call LIFE. Life is not easy, but this company wants you to believe it is.

HStar   Los Angeles

8:27pm on July 6th, 2009 

I was influenced by a friend to get involved with the company and now I regret it big time.Sign #1 I should have known it was a scam when they asked for the $100 upfront fee (like mom says why do you have to pay for a job?) then they wanted me to drive to a far off location and not state the nature of the company to anyone who might ask. Sign #2 can't tell anyone the company info.Sign #3 they asked for more money and kept on trying to recruit people. I was like "when do you actually help the clients" all i wanted was some help. Pyramid scheme gone bad.

je   chicago

9:09pm on June 25th, 2009 

I was in Wfg. It took me 3 years to see the light. WFG is not a scam. But, its not for everyone. I left bec even though the upper heads portray themselves as the great one, they still think with one head. And thats the head between the legs. Just take care of yourself and trust no one!!!

Chris   Huntington Beach

8:02pm on June 13th, 2009 

If you have any intelligence whatsoever you can tell that these people who gave these negative reviews have no idea how business works.

How can WFG be a scam when it makes millions of dollars and everyone involved is so happy. Many of my friends are involved with WFG and they are multi-millionairs or at least making hundreds of thousands per year and they are honest people.

I don't understand why these idiots spend all this time thinking of ways to discredit this reputable firm.

How is recruiting people a scam, I don't understand.

Why is selling financial services a scam.

Is there some rule that you are not supposed to sell things to your friends and family?

If you beleive in a product or service, wouldn't you WANT to recomomend them to your family?

Haven't you ever recomended a good movie? Or a good store? - So when you do that are you pestering your friends and family.

These people are obviously morons.

XMarketingDirector   NorthCali

9:23pm on June 9th, 2009 

Please be careful, this WFG company is the reason why the financial market is getting a black eye. WFG does not build trust, it's a marketing company, they market a dream lifestyle that they themselves do not live, and they talk about priorities like faith and family, but they themselves cheat it. It is all to them "corporate theater" so don't get caught up on it.

leo   chicago

12:18am on May 26th, 2009 

WFG is a SCAM!
it is true that AEGEON is a reputable, high profile company. However, WFG is not.

Their recruiting technique is to emotionally appeal to new recruits. Think about it, humans react with emotion, so when WFG says something like 'work for yourself and plan out your own schedule and spend more time with your family' - well most people would want that.

WFG makes a whole lot of money through ''educational meetings/conventions'' that you have to PAY in order to attend. While youre there, you are supposed to bring new people to be recruited, and the cycle continues.

Their 'highly trained' agents are brainwashed into thinking that they can strike it rich, and most dont make money. So why do these agents stay? Well i presume to think that most of them are trying to get their money back that they spent by scamming new 'employees'. I mean think about it, you pay for books, two or three meetings a month(admissions is usually in the hundreds) , food for your 'potential clients', gas, etc.

A word to the wise: Entrepreneurship is about dreams and aspirations but it shouldnt be combined naive foolishness. If you look at all the successful entrpreneurs, they had to WORK their way up before striking it rich. how do i know this?

-i am a highly skilled auto mechanic (not joking)
i have worked at this shop for the past seven years and when the owner retired last year, i bought it from him. I then expanded the shop and before you know it, everyone wants to maintain their car instead of buying a new one due to the economy. We did over $400k in PROFITS last year, and myself and the crew only worked about 3 days a week. Ive had my experiences with wfg and i wont get into that.

CHICAGO RESIDENTS:
STAY AWAY FROM LORNA MALLARI
she is very unprofessional and has no clue what she is doing. She dresses up and tries to be a businesswoman and doesnt even know how to work her own blackberry. hell, she doesnt even know how to type an email.

brandon w   va beach

10:31am on May 4th, 2009 

ive had herd both sides and i will give this things a try and get back to you all. i will say Social Security is being funded by people who will never get back what they put into it. In fact, there will be people who will 'contribute' money into it and will not get a dime back. Some people who are eligible to receive Social Security Income have to pay a Social Security tax on Social Security Income. 100k in my Fidelity 401K that has lost 15% in the last year. No one would consider a college degree or a Fidelity 401k a scam I suppose. But based on many people's definition, it would be considered a scam. Let me ask a question. Do you think that Aegon which owns WFG, is worth over 400 billion dollars from collecting $100 backround check fees from potential associates? Let me ask another question. Do you think working to make another man or company richer is a scam? Cause the truth is no matter how hard you work for that company, they aint never gonna break you off a piece of the pie! Wfg gives "employees" the opportunity to be their own boss. Honestly, WFG is not for everyone. It's only for the people who are willing to work hard and fight for their dreams! P.S. I hope your boss don't catch you playing on the computer on company time. Get back to work!

Adrian   Nanaimo, BC

10:33pm on April 25th, 2009 

I have my own successful business, a construction company. We do at least $300,000 a year in business. It's hard work. If you work at a regular job...THAT is technically a pyramid scheme. The Top Level People make the money, the people at the bottom make very little. Luckily, I'm the boss, I make the money, my workers make less, for more hard work. That business. Name ONE business where the new guy, at the bottom, makes more than the guy at the top, the boss. Everything is a pyramid. WFG is a highly regarded company in the industry. Call Franklin Templeton Inc. yourself (one of the largest financial companies)...or Transamerica.

Adrian   Nanaimo, BC

10:26pm on April 25th, 2009

I've signed up for their training too. They give you formal training in obtaining your mortgages and securities licenses, sure it costs money...school costs money. They're not going to pay for your licenses. Sure they want you to "recruit" friends and family. Why wouldn't you tell your friends and family about something that could help them. Investing in the same things the banks do, without the banks help. Your taking the middle man out of the picture.

Tom   Virginia

5:33pm on April 4th, 2009 

1) MLM programs arent for everyone. Its very hard work and most people do not have the mind set to do this. I've worked for many different companies (non-MLM) and was self employed for a while. I am not cut out for either one, YET.

2) Everyone sells in one form or another. When you go ask for a raise you have to "SELL" why you should get one. Its not a good feeling nor do most people do it well. ITS HARD WORK.

3) Everyone works for money whether they like to believe it or not. How much money do you actually keep? Not much. We are not taught at schools how to work with money or have money work for us.


Is this company a scam? I believe not. I understand about the background check and the $100. I went to the interview today. I loved it, but I also have a different mindset about money and work. I also love doing finances on my own. I am going to the second interview on monday. I will pay the $100 because I know myself that I spend more than $100 normally on junk food weekly. I think investing $100 in my background check will be good for me.

Not all MLM's are legitimate. The ones that are legitimate will teach you all the sales and life skills you will need to know to be successful in all aspects of your life. If you have the right mindset this will work for you. If you like working in the "E" part of the Cashflow Quadrant then by all means be the best "E" you can be. I like being both "B" and "I". That side of the quadrant is much harder, but the rewards are much higher too.


Last few thoughts...I owned a partnership business fail on me and lost $60,000 and 2 years of time. I also lost over $60,000 in the last 10 years on the stock market. This is from lack of education and experience. Now that I have the experience. I choose to pick up the education. This is a great opportunity to learn something new and exciting. Its not going to be easy, but losing $120,000 was not easy either. And for those that find losing $120,000 amusing, I do too. You only fail now to become great later. Thomas Edison failed 2000 times to perfect the light bulb. Everyone around the world knows what a light bulb is. I have only failed 2 major times. I will continue to fail until I succeed. This is one of the steps to succeeding. The question is how many times are you willing to fail? Everyone posting is right so I dont attack anyone. Everyone is different. Do what you do best and be the best at what you do.

JoeMo   Charlotte

1:08am on April 2nd, 2009 

Heres my 2 cent. $100 for app fee shows that your serious. "Anyone can do it" moto, well yes, but you're going to need to be licensed. So doesn't that show enough that you at least know what you're doing? Insurance is just like Real Estate, as long as you have your license by passing a state test then you can sell. Doesn't mean you have to have a college degree does it? Not everyone is made for this business. Some feel better knowing that they are getting paid hourly. For me, I like to sell. Say you don't recruit and just sell life insurance policies all day. You can still make a couple hundred dollars for every policy sold.

YonSon   Atlanta

1:41pm on March 30th, 2009

All of these comments have been enlightening considering my second interview with WFG is scheduled for tomorrow. I've been grappling with skepticism all weekend long since attending the first meeting.

Though I am not totally incapable of being a good salesman, I can only sell things I am really passionate about. There is a tinge of dishonesty in some of WFG's practices which I simply can't dismiss.

I want to make good money but not at the expense of screwing someone else. I'm not going to the second interview.

gj   canada

11:52am on March 25th, 2009 

wfg is not a scam
its for real sales people.
if u cant sell, dont even bother signing up.
I know people making good money,
I also people making no money,
it all about sales sales sales.
...
by the way I'm not with wfg.
some of my friends doing it...

but its good to get educated about financial products, u can just go and study somewhere in a educational institution..

gj


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