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.