About World Financial Group
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.
WFG is a Transamerica Company serving over 19 million customers. Through the World Financial arm of their company they aim to serve middle income individuals who are underserved in their financial needs.
They provide a wide array of financial products that aim to protect, educate, and grow these families’ incomes.
In addition they offer a business opportunity element to their company’s products. This hybrid model is very similar to that of Primerica. 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 as well.
World Financial Group Products;
Being backed by a massive corporate entity allows WFG to sell a variety of services. These can be broken down under 3 main segments:
Preparation and Education - They can help you deal with common issues like credit card debt, low savings, paying for school, saving for retirement, cost of living, tragedy preparation and more.
Financial Needs - This is World Financial Group’s standard offering of financial services. They can provide you with the following:
- Life Insurance
- Critical Illness Insurance
- Disability Insurance
- Long-Term Care
- Mutual Funds
- Business Solutions
- Investment Advisory Services
- Financial Needs Analysis
Maintainance - Their associates can also assist you with protecting your wealth and incomes by addressing your cash flow, debt management, emergency funds, and wealth building + growth.
World Financial Group Business Opportunity:
As with any network marketing business there is the element of having to build your business through your own network which does include family and friends. However what WFG claims is to give you all the support of a traditional financial services business but with an unprecedented amount of freedom in the way you work.
For starters you can put in as much time as you want into your business. You can start part time and slowly grow or hit the ground running right out of the gate. There are no sales territories to worry about and you can build your network anywhere and anyhow you like.
Further because they are a Transamerica company as an independant associate you have access to products from all the leading providers such as Nationwide, Prudential, Voya, BMO and more.
This gives you the freedom to be able to serve your clients with the best overall options for them on the market. They also provide you with the support to grow in this line of work by advancing to the level of Investment Advisor and sell more products.
They also provide you with a suite of back office support - this includes prompt commision payouts, reward programs, licensing, technology solutions, and more.
As with any network marketing company there are a lot of mixed opinions and claims of pyramid schemes. Officially a pyramid scheme is one where the sole focus is on selling the business opportunity rather than the product.
With World Financial Group you do have that opportunity and you are encouraged to recruit and grow your downline of associates. However the emphasis is on selling financial products. It is in your interest to recruit associates who will make lots of sales as you earn a percentage of what they make.
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 as well as developing sales and recruiting practices.
Unlike getting a job with a traditional brick and mortar company you will not be getting foot traffic coming into your office to discuss life insurance. You are solely responsible for bringing in qualified clients ready to purchase financial products or bringing in associates who will be able to do that for you otherwise you will not succeed.
World Financial Group claims to have some very noble goals, such as spreading financial education to those in dire need of it. But there is also a flipside to that with some people complaining of not receiving the best financial advice that they could have because they dealt with a poor associate.
If you have worked with a World Financial group rep or are currently working as an independent associate please leave a detailed review below explaining the pros and cons you’ve encountered.
90 ‘World Financial Group’ Reviews
I work for WFG. It's an awesome company. I've help family members, friends and friends of friends. True, I didn't come to the business with a financial background, but the training from TransAmerica, Nationwide, other providers and of course our leadership has been awesome!! Many employee minded people don't like the 'hybrid' model as stated above, but in no other place can I learn fast, become a broker and control my financial future. I'd rather have my own business, then work my old full-time, 40-60 per week, no time for family job. ...just saying...
Not a bad company, welcome to recruiting! This is how it works with most companies. Everyone wants a piece of the pie and now, WFG is just publicly known on how you get paid.
Recruiting is hard that's why some of you aren't recruiters.
WFG if this company did nothing else than encourage you to be a better person, give you information how to protect our money and family from market crashes and educate you in the areas of finance in your life it would still be worth the first $100 you pay for a background check.
I can't speak for all of the offices of WFG but I can speak for the office I am a part of. The group is like a family, we believe in the motto Faith,Family,Business. We have great mentors with integrity, 1st class professionalism. Just about anyone in our office,with several teams would help one another. Where can you start a business for less than $500.
Now we are not salary we are commission so that means it depends on you how much you will make. If you get out there and share with families products that can improve their lifestyle and or retirement, families well being and what we can offer them you will make money. Some people take a little longer than others but it is such a blessing knowing we can help protect families out there in our everyday world.
Another thing is the training is definitely there for us, again if you don't take advantage of what the company offers you then of course you will fail. Get the right mindset, positivity and work ethic and you will make it. Then you won't have to write a bunch of negative comments. Because it's a lot easier to rag on something than it is to put a true honest effort into it
Great Company! Great People! Great Product! I've been with the company for over 15 years.
People buy cars and houses 'Insurance than buy their own insurance. They insure rubber and steel for cars. A place over their head. When that person die what is important? If they have love one. And their love one don't money or make so a little. What happen to their cars and houses? The Bank take it back. Cars' s company come and get it. All three Insurance are important. The only thing Goverment doesn't require people to insure are self. WFG is here to help with all of that. All companies get good and a few bad agents. Not thing to do with WFG itself. To do with people moral and integrity. Honesty are must have to any human being. If we look and read. Pastor. Priest. Monk. Muslim. All religion have bad people. Hopefully we get 1 bad and get 10000 are good than we do ok. WFG has 60 some thousand agents. A few are bad. We consider we are lucky. News are bad new and good news too. One again WFG is good. Thanks for reading it.
Looks to me like WFG agents do not know their own product or do not understand it Pls find out what is going to happen to your cash value when you die. yeah its gone not yours.
Thats what happened to my friend when it came to pay out money, you can get only one account, not both, witch ever is higher. so either face value of your life insurance policy or your cash value witch never never gets bigger unless you paying huge premium. Now I have term insurance and it is the best thing i have done for my family.Transamerica, WFG is legally ripping people off their money. That's from me cheers
This is scam organization, especially the recruiting staff. If they ask you to pay $$$ as requirement to work, do not do so because you will lose it forever. They operate like Ponzi scheme.
My suggestion to all those potentially faced improper treatment by WFG representatives, report to authorities and follow through with the investigation. Where ever you are.
I am with WFG, and to me it is the best business opportunity from my experience, I owned 3 companies, had people working for me and also had a job where my income was 200k+.
I repeat to me, personally, WFG is THE BEST OPPORTUNITY for people who regard themselves as high achievers, successful, educated, and humanitarian.
There are qualities one must attain before one achieves success within the firm.
My regards to those offended by private, questionable individual's practices.
Also, read up, discover, study, implement!
WFG is great company.It is not scam as I thought before.When you pay $100 ,you can get back 100 times later.
Of course, you have to work hard and then you will get the best results . When you go big event, you will see the BIG VISION. For me, you can learn and you can Earn !!!.
For the people had bad history with WMA before. Now you can think and turn back to work for WFG.The new System now is diferrent.
Finally, you can Joint-Own-Share. You can tell ,It is Good !!!!
I've done at ton of research in the past 4 months about WFG, as well as going to a weekend conference and even invited a WFGer to my home.
#1 - they are not a pyramid scheme.
#2 - the products they sell are legal and from reputable companies
3# - the money they claim you can make as an associate is attainable
That being said, I would not join WFG unless you are a convincing salesman and if you are willing to approach your friends,family and strangers to take on a part time job, recruiting their friends,family and strangers to take on a part time job, recruiting their friends, family and strangers to take on a....you get the point.
WFG business model is built on the numbers game. Which is totally fair and works. Approach enough people and you may get enough bites.Of those few that bites, an even smaller percentage may be successful at recruiting. So for a company that sells financial products (not to be mistaken for a financial company) that is built on sales and commission, it is actually quite simple and effective. The problem is that recruits don't understand the work involved and the dirty work of approaching everyone you know to approach everyone they know to do the same. WFG knows the turnover rate is high and rejection rate is even higher, hence the pressure from your 'upline' to continuously search for recruits.
I mentioned earlier, I went to one of their weekend conferences in support of my friend who was interested. Here are a few points that stood out.
#1 - Majority of the recruits are not born in North America
#2 - A few had degrees/certs in professions that were not recognized in North America
#3 - Majority had low income jobs they were not happy with
#4 - The top tier WFGers spoke naturally like most salesmen
#5 - 80% of the presentations were about income made through their system of recruiting, 10% of selling the dream and staying motivated,10% of how to "close" a sale/recruit and 0% of actual financial product knowledge/financial planning
6# - majority of recruits were socially awkward and seemed easily influenced
Their system works. I'd say 90% of all the recruits also bought at least 1 product from their recruiter before joining WFG. From this fact alone, you can see why WFG focuses on recruiting so much. Their whole business model lives and dies by recruits, especially if every recruit is also a client. From the viewpoint of the F.I's like BMO and B2B Bank that are associated with WFG, why wouldn't you offer WFG your products to sell? It's just another avenue for these F.I.'s to reach out to potential clients who wouldn't otherwise go to their brick and mortar stores to learn about the products. But if you aren't willing to put in the work of contacting everyone you know and approaching strangers to start a new part time job of recruiting, this opportunity isn't for you.
However, if you are a natural speaker, a person who can recognize a possible recruit who is looking for something new and can influence this person to do the same, as well as ever been called a natural salesmen (you know the type.. A personalities) then there is definitely opportunity for you at WFG.
Thanks for reading.