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World Financial Group is a Scam

Company World Financial Group
Product / Service Insurance Offer
Location Escondido, California
Category Finances
Views 2775
 

World Financial Group is a straight up scam. First they ask you to come to a meeting about a possible job in the insurance industry. Then when you get there you see it is nothing about a job, but rather is a whole bunch of people hopping around and spouting off about how much money they make.

Secondly, you will be asked to make and appointment for an interview for a position with the company. This is not an interview, but really is a bulls*** session where they ask you about your life goals and then try to use those goals to trick you into giving them money.

Thirdly, they will ask you to come back for a training session. When you get to this supposed training session all you hear is more garbage about how much money you COULD make, how you need to pay them money for certification and a background check and fingerprints, and how you need to bring in three to five recruits a week.

This is not a job. This is a scam. Do not give the representatives of this company any money. If you need a job go interview with a company that does not ask you for money, or invest in an education for yourself.

I never once gave this company money. I went to three of their 'meetings' to see what they had to say. Never once did they offer any type of training. Never once. They did, however, ask for money each time.

In the meetings that were supposed to be training sessions they never gave insurance training of any type, no real information. They did love to tout how their affiliation with big name companies like Hartford was real. Good for them, but association with legitimate companies does not make them legitimate or any less of a scam.

The individuals who run these little meetings that are supposed to be training sessions love to repeat how their company is not a scam and is valid because they are in a heavily regulated industry. They love to claim that they have very few, if any, sanctions or fees brought against them for misconduct and misrepresentation.

This is simply not true. Lookup their company record, especially look up their company record under their previously listed company names. You will find many inconsistencies with their claims and find some to be outright lies. Wikipedia has great information on this.

My best advice to you, other than to NEVER give these people money, is to agree to go to some of their meetings. Go. Take notes so you can remember what to look up on the internet later on. Write down the claims that they make and check them out. Look up written opinions and financial reports on this company as you research them.

Be sure to read information that is FOR this company as well. You need to hear the good things people say about WFG. You need to read and hear their success stories and RESEARCH them. This will give you a better picture of how people are brainwashed into this company.

You will find that getting straight answers is extremely difficult. Seriously, go to a couple of their meetings and you will find out. Of course, don't tell them you are simply checking out their scam. Just go and listen. Check out EVERYTHING they say and claim.

They will also talk heavily of how so many people think their company is a scam and how these people are only naysayers who don't want to make money. Listen very carefully to how they speak about people who do not like the company and who try to prove it as a scam. They will give every excuse from people being vindictive and subversive, to people being lazy and not really wanting to make money.

But don't take my word for it. Go. Go to a series of these meetings. Take notes. Do not give them any money. Have a really good laugh at a really good scam. 2e62344

 
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2 days ago 
I went to one of WFG meeting this week and they really laid it on thick. Talking about all the money they make and all the money I could make.I went to the meeting with associate, she kept telling me so much good stuff about the company and that I should gone.So I went to the class I just didn't get a good feeling about the people I felt like they where blowing up the company and the money they make to much.They tired to get me to sign up that night by paying 100 for background check,I have had background checks before and never have it cost so much.I told them I need to come home and read up about the company the lady said well there are going to be bad and good things said by people.There seems to be more bad than good.And another thing I didn't like is that the place look so empty the lady said that they had just moved in a week ago but when she took me to back there was one office that was laid(look good) that was really odd to me. It look like if you had to leave the office you could leave everything behind. I don't think I will do it because not getting good feeling and to much negative reviews.
Reply to san

Apr 12 
Lol, WFG is like every other pyramid scheme/mlm/triangle of hope, whatever they want to call it. My ex girlfriend joined this company and tried to get me to be a sucker, I was told I had to pay $100 for a background check, background checks run $40-50 bucks a pop. So I entertained her idea and gave her $100 for it so they could do my background check. Here's a little background about myself, I am a convicted felon charged with bank larceny, spent 5 1/2 years in federal detention center outside of El Paso Texas. With that being said, surprise, My "background check" was "clear" and good to go as far as starting my part within the company. I laughed it off, just shows that the $100 you spend doesn't even go toward any "background check". Just added fees to the system you pay forward.
Reply to Ken

Dec 28, 2013 
Thanks to whoever post the above review. I just met with the manager of a friend who recruits me to join this company. At first it sounds so good when my friend told me about how he makes money joining WFG. I said to myself if it sounds this good that means that there is a catch or something illegally wrong done in this organization. Due to my curiosity I came to his office and met with his boss. All I hear is how much money they make every 3 weeks(over $3000). During our entire meeting nothing was mention about how they go about continuing to help their clients after selling their products or services. This is all about making money and benefit them only no matter who get hurts in the process. I would like to have an email exchange and talk with the person who posted this review personally if you don't mind. Please email me at lunerxeclipse0520@gmail.com. this is my alias email account. If I can identify that this is truly you I will provide you me real email address contact. Hope to talk to you soon.
Reply to Phoenix

Dec 26, 2013  from Edmonton, Alberta
only loser's can write these kind of comments. I am pretty sure this guy is loser in every front of his life. it is nothing but his own personal frustration.
my name is Kamal Panesar and I am working with this wonderful company "world financial group" as senior marketing director in Edmonton ,Alberta , Canada.
what ever he wrote about WFG is ***.
Reply to Kamal Panesar

Dec 31, 2013 
Jamal, you are probably one of the ones that rip off and earn your commission money from the low income family members. What he wrote and posted on here is true. I just came from a 2 hours of what claims to be training for me with one of a drop pre-dental major student. When I asked her about the $100 that they claimed to be used for a criminal background check. She actually came out and told me that it is not applying toward a criminal background check but toward obtaining the log on ID. I am currently working with a company now that I dealt with processing criminal background check and it only cost $40. This covers the FBI and out of state criminal records check. She was at awe that I question their process if taking this fees from people. She told me that whoever it is in the office shouldn't tell me that this fees is for CBC when it's actually for whatever they want to use it for. Guess what the girl that told me is the Senior Marketing Director that met with me. When I told her this she becomes very uncomfortable throughout the training. We are only into 30 mins of my 2hrs training and she ask when I have to leave. I told this training suppose to be 2 hrs long what happens. At that point she stop sharing info with me but trying to sell me the product. I have a field trip with this fun. I'm not returning to that office ever again.
Reply to Liner

Feb 07 
I know what a "senior marketing director" in WFG is. Next to bull ***. One of your kind tried to "recruit" me here in Mississauga. I did not fall for it. You definitely are the loser in the making.
Reply to Kris

Nov 18, 2013 
This is so true - they sell you a dream life style and then expect you to bring them appointments in the name of training that is basic at best as they are too busy talking how you can make money,,from what I have read: you have about a 3% chance os success in this business at the cost of alienating yourself from your warm market - who your adviser will try to tap and sell before you lose interest or wisen up to their manipulative methods...
Reply to Nobelsav

Oct 09, 2013 
This sounds like the Farmers Insurance, "Reserve Agent" program. I am so glad I backed out of that garbage before I signed my life away.
Reply to Anonymous

Sep 25, 2013  from Orlando, Florida
Just had church members introduce me to a way to be Financially stable for the rest of my life. I asked them what is the name of the company?, but they wouldn't tell me. They dodged my question. Why? Because they didn't want me to google it. I finally got it out of another church member turned rep. I googled it, and low and behold it is exactly what I thought it would be, A pyramid scam. How do I know? Because I joined one years called telecommunication group. There product happened to be phone cards. There wasn't affordable cell phone at this time. Introduced by church members, I signed up under my aunt and uncles, and than I got my brother and mom to sign up as reps under me. They got no one under them. I fizzled out, lost $100 and got my brother and mother to lose $100 too. This was 16 years ago, what is we had invested the $300 into apple stock. We would have made some real money. Bummer.


I would be underneath you. You would be on top. Somebody is on top of you. You want me to get reps and customers underneath me. That is a pyramid.


World Financial group leaders
:
sincerely wrong friend from church
: : :
C. Rep. Me
: :
C. Rep
:
Rep
:
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Reply to Hardknox

Aug 29, 2013  from Orange, California
is WFG the same thing as Primerica? Let me guess... this company is out there to 'help' the middle class America and blah blah blah. Yup... been to one of these sessions. I started asking the speaker all sorts of actual financial questions, and all I got were generic answers. legit??? I think not. But, some of your loyalist to these types of companies will swear by it. Seriously... 3 days of 'training' is supposed to make you an 'expert'? hahaha... you loyalist are the ignorant ones. Sooner or later it will catch up (IRS).
Reply to Alf

Aug 18, 2013 
Paramid multi level marketing is what this is. I got suckered to an event today. My wife was flat out told it's not MLM, so I figured what could be the harm.. There we go through the intro, and asked to state if we want to become business leads interested in buying services and/or agents. From there we are taken to hear some funny guy with a thick accent that goes in circles endlessly without saying anything of substance. He just kept talking about "the system", and how much money you will make. As soon as I grasped the fact that everything hinges on recruiting, I knew I had just lost time I would never get back. To add insult to injury, the person "hosting us" shook us down for $20.00 for the tickets to hear this *** presentation; never in my life would I have attended knowing this. I paid it to avoid a scene. My wife is licensed already, and I know that she can make way more without these blood suckers taking a cut and having her waste time putting money in their pockets. I can't wait for that follow up call. I will make it memorable, and get some satisfaction. I have to say, these guys found a very interesting way of applying MLM to a sector that hides their true nature by using the legitimacy the licensing requirements grant them. Morons welcome, blood suckers are ready to take your time and money. Enjoy getting hustled! That's if you like to drink the cool aid.
Reply to Jules

Aug 12, 2013 
For those who may need help in deciding whether World Financial Group (WFG) is a legit company to work for or do business with, please do yourself a favor and stop wasting your time in reading comments from just any links or forums from people who have not done the business or know enough about the company.

Transamerica Financial Advisors, Inc., Transamerica Financial Group Division (TFG) has a strategic relationship with World Financial Group, Inc. (WFG), one of the premier financial services business platforms in North America. TFG works with WFG and its affiliated companies to provide support services, satisfy licensing requirements and administer back-office administration.

Search and get your answers answered from trusted websites like http://researchwfg.com, http://transamerica.com, http://tfaconnect.com, http://ing.com, http://prudential.com, http://pacificlife.com, http://nationwide.com or call Transamerica or ING or Fidelity or Prudential or Nationwide or Pacific Life and/or other of their top platinum providers directly to confirm that WFG "real" and a solid company, ranked one of the top producers for many of these highly respected product providers! Today, WFG is in the top 1% of over 8,000 broker dealers in the country!!! Isn't that amazing?

Some may say that only a few can or are able to make some real money here but let the numbers and statistics speak for itself. 1 out of 2 makes 50-99k a year. 1 out of 4 makes more
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Reply to smlawas

Feb 07 
You love this company and you love what they have done for you and your family! You are a loving scammer.
Reply to KM

Aug 10, 2013  from Vancouver, British Columbia
It appears that WFG is not a conventional scam, in so far as it isn't doing anything illegal and also isn't a straightforward ponzi scheme. However, it does rely on you selling insurance products, which are complex financial instruments, to others who may or may not need them, and which could cost them a lot of money. What's known in the industry as a multi-level marketing scheme. Basically the earlier you worked for WFG the more money you make, which is why it works like a ponzi scheme, without actually being one.

Remember, you are not buying insurance from an insurance broker. WFG makes their money from charging very high administration fees on financial instruments, usually life insurance, that end up costing people thousands of dollars. Buyers may never make a return on this investment and in fact could end up losing everything.

In order to make money through WFG you have to sell financial instruments to your friends and family who may not understand them. You may make money, you may do that by making other people poorer. If that's something you can live with then go ahead and do it.

How many of the commenters on here are regulated investment brokers or financial advisors? None. That's the problem.
Reply to Anonymous

Aug 08, 2013 
The office you went to probably did not train you well. I have been in WFG for a year and half now and I can proudly say it is the best thing that has happened to me. I'm 22 years old and make 100k a year and growing. I have been a full time since I started. It all depends on the trainer in the office and I can proudly say the person that trained me thought me many things not only about the business but also about life. I thought it was a scam also but I stuck it out. Many people didn't believe me friends stopped talking to me but hey look at me now lol. Good luck out there everyone do what you think is right for you this business isn't for everyone.

-God Bless
Reply to Rob

Aug 07, 2013  from Norco, California
my parents are in WFG and asked me to tag along for one of their meetings. Im still a teen and dont really know the whole working thing and financing, but when i went to a meeting, i can for sure say that you learn a lot more than recruiting. You learn almost everything there is about Finance and Insurance. Don't get me wrong, im not like a fish out of water who doesnt know what a 401K is I do know a little bit about insurance from school and all. I believe this isnt a scam.
Reply to Anonymous

Aug 05, 2013  from Rancho Cucamonga, California
Imagine this...lets use real estate for example since everyone thinks they know a thing or two about it. You want to open your own real estate office so what do you do....well if its a big name there is going to be a franchise fee just to use the name and buy into the system etc.... Its a heck of a lot more then $100 bucks. Is that a scam? Now you need a place to do business so you will need to lease a spot, purchase desks, phones, computers....etc you get my drift. Now you need agents so what do you do? RECRUIT. Yes I said it the dirty word...RECRUIT. Agents will have to pay a FEE to be a part of the office and there will be MEETINGS and if the agents want to make it anywhere in the company they will need to follow a trainer around for a while until they are ready to do it on there own. This happens every day folks. WFG is no different really. You can either be an agent and only an agent or build your own business. If this is a problem to you, then WFG is truly not for you and even more you truly aren't for WFG. So enjoy what ever it is you are currently doing and for the WFG ers...keep helping families and building your businesses!
Reply to BTB909

Aug 03, 2013 
For anyone who is reading this and wants to know the truth. I am a son and a brother to a family who is greatly involved with WFG. WFG was introduced to my brother-in-law and was VERY close to leaving shortly after the first month, but he stuck it out. He and his wife (my sister) brought my mother and father on board and soon brought me on board.

Now my mother and I don't do much with the business, but I am Licensed and was promoted to the Associate level and I do absolutly nothing but keep in the back of my head that I can refer people to my brother-in-law, sister, or father and I have made hundreds of dollars just on the side. I don't do this full time or even part-time, i just refer people every once in a while. My last commission check was $600 just from sending someone to my brother-in-law who decided to take his advice in investments.

You want the dead honest truth.... you have to be very hard on yourself and be disciplined to make it in WFG. You need to trust you leaders and stop reading postings like this. There is a reason to their madness and so called "scams" that WFG runs.

My brother-in-law and sister does this full-time now and is pushing for a quarter of a million annual income. My father does this part-time and has paid off his first house, which he still owns, and bought a brand new home three times larger than what he originally had. Myself, who only does this on the side for extra cash, paid for my 4 years of
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Reply to Just On the Side Cash

Aug 02, 2013 
People who are posting derogatory comments about WFG are totally incorrect! Yes... you do go to meetings to LEARN about the business. If you are a person who cannot take the time to learn the products it is your fault not the company's. Yes $100 investment because your get paid twice a week and you must have a code to be a license Insurance Broker. I could go on an on but you get the picture. By the way I got a promotion from a training Associate to a an Associate inless that 6 weeks. My commision went up. The knowledge I am learning is priceless. Helping familes is awesome. The opportunity is fantastic. I am cautious as most people and I must say THIS IS NOT A SCAM. Don't blame WFG if you cann :) ot get with the program.
Reply to Anonymous

Jul 25, 2013  from Scarborough, Ontario
You're an ***. WFG is a horrible financial company, they rip people off, but any company in the financial industry works the same way. YOU HAVE TO PAY FOR YOUR LICENSE. You are an independent contractor etc. You're just a working stiff wage slave. Piece of garbage.
Reply to FU
 

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