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Why do you almost NEVER give us your names or contact info? Why do you almost NEVER try to defend World Financial Group and its products WITH FACTS AND NUMBERS? Why do you almost NEVER try to defend WFG and its products with clear REASONS? Instead you blather happy...
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#1188127

Im in wfg been here for 4-5 months, my name is brandon, I don't like all the recruiting stuff but i like the products so i thought i would answer your question about the products.

Products are good. LOL jk i am super nerdy about investments and real-estate so i can talk for days about them.

All i do is set appointments for extra cash but don't have any recruits besides my first three who quit. Forgive my spelling and grammar i will just type some info out real quick.

All other advisors basicly say IUL is too expensive. that the COI eats into your cash and you should go into a mutual fund in the equity market instead peferablly wrapped in a IRA or a roth. Okay Roth is awesome but the gov keeps it to small and its illiquid and you can only have one, plus if you make to much money later in life you cant put anymore in.

IRA or SEP you have to worry about taxes in retirment and at a hire rate and bracket becuase of 100 trill in liabilities, babyboomers etc....

same as a 401k only less fees.

Okay then with the IUL you have to be tricky and overfund it or it wont work, and the COI is really high when you get old. The point is it grows and can be taken out tax free if you take it out as a loan. Advisors then say oh you pay interest to use your own money its horrible! But the intrest you pay is only.075 annually and the next year they acreddit .075 to the account at least with transamerica...Its called a wash loan so it stays tax free but the client doesnt have to pay interest.

Basically as long as the COI you have to pay in fees is much less than taxes its a good deal for the client. Doesnt work well for unhealthy people or old people. They should just get a roth with index funds. I ussually tell them to get termlb and use vanguard.

TermLB is cool.

It is super cheap compared to most term and if you get cancer or have a stroke, or cant move or something they give you cash while you are alive up to 90% of the death benefit tax free. or if you die you have cheap term that pays your family. Everyone likes that thing, just a upgrade for most peoples old term. uhh Don't know that other advisors have anything bad to say about it actually.

I mean it pays out and is cheap sooo yeah, Fixed index annuity, I have never done one of these but they are mostly for old people who are about to retire and don't want to run out of money. gives guarenteed 6% each year to grow until they use it charges .85 a year. I think some people don't like it because it stays locked up for 7 years as in they can't put it into a IRA super soon after, and if they trigger it then die the next year the heirs lose money. They have other stuff like estate planning i used once and debt restructuring and uh *** oh college planing but those are smaller things.

Hope i answered your questions on the products. I apologize for all the shady *** some of those other divisions do. I feel like its the asian/mexican teams that don't know english very well.

But yeah i just do it for extra cash i want to be a real estate investor and maybe have some IULS and variable accounts set up long term. I will probably quit the company soon.

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ID
#881743 Review #881743 is a subjective opinion of poster.
Location
Glendora, California
Cons
  • Misleading sales tactics
  • Dishonesty
  • Deeply deceptive and even dishonest
Reason of review
Bad quality