Why The World Financial Group Scams Are Wrong

world_financial_group_scamIf you’ve read my review on World Financial Group,their  have been a lot of people making comments there.  Some good, some not so good.  In fact some claimed the company is a scam altogether.

So before you go off believing all the World Financial Group scams are real, I want to prove to you that it’s not a scam but also address why it might seem like a scam to some of you.

The reason I’m doing this is because I’ve personally worked with the company for four and a half years and not one time did feel like it was some sort of scam.

Why People Believe WFG Is A Scam

WFG does not pay you to recruit. First off, World Financial Group is a recruiting company.  Everything is based off of this idea.  In fact, they recruit nearly 10,000 people a month.  That’s a lot to keep track of.

Of those 10,000 recruits, 10% of them will only get licensed, and of those that get licensed only 10% of those will make it to the 5 year mark.

Why is this?

Generally speaking there is a high turnover rate in this business, especially if your only working on commission, which they are.

This means you only get paid when you deliver.  This also means you have to sell to clients and if you can’t do that you won’t make any money. By recruiting people it allows someone to break into other warm markets.

I did this all the time and I can tell you this, it’s much easier than cold calling or sending mailers.  Don’t get me wrong the other two option work but they don’t deliver nearly as good results.

WFG Is Not A Pyramid Scheme

Secondly, a lot of people are under the belief that the large amount of recruiting they do is considered a pyramid scheme.  So in order to prove that it isn’t I will define a pyramid scheme.  Here is what Wikipedia says:

A pyramid scheme is a non-sustainable business model that involves the exchange of money primarily for enrolling other people into the scheme, often without any product or service being delivered. Pyramid schemes are a form of fraud.

WFG does charge a fee to get started, but it is not in any way ever paid to any person in the company, much less the people who recruited them.

The fee actually goes to the corporate headquarters to get them set up in the system, do background checks and start up materials. World Financial Group is also a business opportunity, which requires an investment to get involved.

Think about it this way if you were to start your own McDonald’s Franchise you would have to pay them just too even carries the McDonald’s name.

On top of that under the definition of a pyramid scheme it also says that you don’t actually deliver any product or service.

World Financial Group has been selling life insurance and securities products for years through their providers.

Need I say more.

WFG Reps Have Licenses

In order to get paid by WFG you must have a license.  While I worked with the company I had a life and health license and a series 6, and 63 licenses to deal with securities like mutual funds.

These licenses were the only way I could get a paycheck, not through recruiting or some other bull crap lie.  On top of that you much go through state and federal background check just carry these licenses and any body who is a convicted felon cannot carry any of these licenses.

WFG Works With Large Financial Institutions

Finally, World Financial Group is in business with financial companies like Transamerica, Western Reserve Life, Prudential, American Funds, and the list could go on and on but I think you get my point.

These companies would not be in business with WFG if it were some pyramid scheme trying to rip people off.

One Last Thing To Think About

One last thing I want you to think about before I end this article and that is no one can know everything that is going on inside WFG at one time or another.  This also goes with all the other financial institutions, and people who are recruited.

Even with all the government regulators, quarterly interviews, regulatory compliance meetings, and the up line over sight of all trades it’s always possible to miss something.

There is always a bad apple somewhere, and it’s these people who make the company look bad. Think of all the bad things you’ve heard about Wal-Mart or McDonald’s.  Great things happen every day within these companies but when just one bad thing happens everyone remembers it like the plague.

WFG is no different, they have helped family after family from falling into financial ruins, but then there’s that one agent who messes up and that’s what everyone remembers, when in reality that has nothing do with the company and is just a onetime indecent.

I know I will catch a lot of flak for saying this but unless you’ve been there and helped families from falling into the financial abyss I don’t think you have any room to talk.

I’ve been there and done it and now there are a hand full of families that I’ve helped that will be better off now all because I took the time to give them a call and ask if they needed help. I can’t think of better way to help people.

So before you say World Financial Group is a scam take a step back and think before you speak.  You are talking about real American families who are working to support their families and help others.

Do you work with World Financial Group?  Are you considering joining?  What are your thoughts, share them in the comments section below.

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  1. I am currently being trained at WFG. I have gone into the field with my trainer and have met families who needed help. The quality of training is excellent because I get lots of individual attention. I can truly say people who work for WFG really do care.

  2. I’m glad you’re giving it a shot. WFG can be a very rewarding career if you stick with it. Most people never get as far as you are because they are scared to take risk and you are doing that which is why you will have higher odds of being successful. Good Luck!

  3. No REPUTABLE company would have you pay for a background check.


    That should be your first warning sign.

  4. WFG does not charge for a background check, they charge the $100 fee because it is a business opportunity not a job. When you sign up with WFG you are starting your own business. That is why they charge a fee.

  5. In the article, you referred to WFG charging for background checks, but in your comment, you said that they don’t charge for background checks. That seems funny to me.

    Anyways, WFG falls under the same base category as other MLM (multi-level marketing). I think it’s really hard to argue that point. There is nothing wrong with MLM; It is not a scam. However, the truth is that these companies will give you vague details about what you are going to be doing, oftentimes lie about certain things in the recruiting process, and definitely over stretch the amount of money that you will be making.

    I had my own experience with WFG a couple of years ago. There is potential in groups like this, don’t get me wrong. It just involved time and effort that I was unable to give (my recruiter asked me to drop out of college, for instance). She did seem really concerned about the state in which most families finances were in, so I felt as if she genuinely cared.

    Moral of the story is it’s really up to you. Just know what you are getting into before you pay that $100 bucks.

  6. I was a senior associate in WFG about two years ago. I loved the way the business structure was perfected except for the fact that they said ” IT IS YOUR BUSINESS”. To keep this short, if this is my business…. and I am in charge… why can I not have my own designed business card? This is a simple marketing tool that they did not allow. My partner and I, he was a marketing director, wanted to make a few flyers, brochures, and pull tabs, we were told that it has to go through compliance. Guess what, they only have a compliance department for legal corporation reasons. There was about 2 people sitting in there chairs, probably getting paid quite of bit of money to stamp a decline to any new marketing idea that came there way. There is no freedom.. and don’t forget people… this is not your business, you are just an AGENT.

  7. I am now eating my own words. After months with WFG, I can honestly say WFG puts on a good act. All they care about is recruiting and you only get 25% of what you earned. Training is lame because your trainer does all the work. I haven’t got paid, scam!!!

  8. state farm insurance ask you to pay for your own background check too, but its something like 65 bucks…the 100 wfg charges includes the use of the online interface and home office support, the background check which they mail to you later (i’ve got mine) only cost like somewhere around 25-35 bucks…in this company you have to think long term, you are building a business and it takes time (if you had own a business (i had…and i made good money too) you be lucky if break even for the first 2-3 years before making money). If you put in the hard work and learn with a open mind…. trust me this is hard work, in a few years it will pay off big. I love the platform this company is built on, I’ve been with this company for a year now and when i first joined i thought it was a scam too cause of all the negative things i’ve read online…but after doing more research and working with the company i realized this a once in a lifetime opportunity for some people…you really owe it to yourself to do it, not just try cause i will tell you now its not enough…the turnover rate for this industry in itself is very high…and because WFG has no quota…people don’t work very hard unless they really want it.

  9. “”I was a senior associate in WFG about two years ago. I loved the way the business structure was perfected except for the fact that they said ” IT IS YOUR BUSINESS”. To keep this short, if this is my business…. and I am in charge… why can I not have my own designed business card? This is a simple marketing tool that they did not allow. My partner and I, he was a marketing director, wanted to make a few flyers, brochures, and pull tabs, we were told that it has to go through compliance. Guess what, they only have a compliance department for legal corporation reasons. There was about 2 people sitting in there chairs, probably getting paid quite of bit of money to stamp a decline to any new marketing idea that came there way. There is no freedom.. and don’t forget people… this is not your business, you are just an AGENT.””

    This could not be farther from the truth.
    #1: Once you hit QMD (Qualified Marketing Director) you actually legally own your own business and can pass it on or even sell it to someone else. (So yes, you don’t own it right away)
    #2: You have to get your marketing materials passed through compliance because that is the law. You are an INDEPENDENT Agent within a company. So yes, you can’t really make up your own stuff without compliance. To say that you can’t get it done is just ridiculous. I have had 3 pamphlet and a full page add passed through our compliance department to name a few.

  10. I agree with you their David, it’s very hard to get stuff through compliance. We tried the same things and got denied on a lot of stuff. I never made it that far with WFG but I did learn a lot about finance and running a business though.

  11. “Christopher October 22, 2010 at 9:43 am”
    “I agree with you their David, it’s very hard to get stuff through compliance. We tried the same things and got denied on a lot of stuff. I never made it that far with WFG but I did learn a lot about finance and running a business though.”

    “Christopher Holdheide May 21, 2010 at 10:18 pm
    I’m glad you’re giving it a shot. WFG can be a very rewarding career if you stick with it. Most people never get as far as you are because they are scared to take risk and you are doing that which is why you will have higher odds of being successful. Good Luck!”

    I do know that WFG is not a scam but its extremely difficult to get anywhere with them. What made you leave Christopher?

  12. I left to take over the family business, however I did not have a lot of time to put into the business and E&O also got the best of me. WFG is an awesome opportunity for the right person, it just wasn’t me.

  13. Pingback: 3 Ways To Spot A Business Opportunity Scam | The Small Business Forum
  14. I’ve read the numerous comments here and honestly I hear these same thing about practically every Financial Services Organization in the market. I’m not a WFG rep, but I’m exploring an array of firms to begin building my book of business. I’m fully licensed and have been in the business for nearly 5 years now and I felt I could add a few pearls of wisdom for everyone.

    #1 Fact: $100 start up fee which covers operational expenses and not goes to pay an upline is awesome. I obtained my licenses with a firm that hired W-2 (you get a paycheck) advisors and not 1099 (you’re in business for yourself) and I had to kick out over $3000 before I could even beginning the training program which was merely studying to pass your exams. That covered my licensing exams, training materials, practice exams, background checks, and fingerprinting. You would think that $3,000 would come with an instructor and sadly it didn’t. I’m glad that I was able to focus on studying for 8 straight weeks to pass all my exams.

    #2: From the numerous blogs I’ve read one key point resonates strong and that is their training program. Again I had to study on my own and if I failed twice I was out; back to the soup line my friend with no income. BTW, I wasn’t getting paid to study for my exams. With the firm that initially sponsored me (I left after I found out that training was non-existent), my training consisted of 2 hours in the morning listening to people “educate me on the business” [sarcasm] and then 6-10 hours of “smiling and dialing to set appointments”. After all that, you would watch someone close your business and hope you meet the qualifying number of closes within the stated period of time so that business could be transferred to you. Again we’re speaking about a reputable Wall Street firm. I’m the type of person that wants to learn my business first and then implement a successful plan. I ended up leaving 2 weeks into their “training” and joined a highly respectable Wall Street Investment Bank because I was already licensed (remember that key phrase).

    The next few points are not WFG related

    #3 – If one were lucky to be hired by a Large Financial Advisory Shop, most will only provide you with a 1 fail rate and you’re out ultimatum. Meaning they may pay for everything, they may even give you a paycheck (if you’re lucky), but if you don’t pass your Series 7 the first time out don’t come back to work because you have no job. I kid you not folks do your research.

    As far as compliance, you think someone telling you that you couldn’t pass out a flyer to promote your business is bad. At a big shop nothing flies and they make sure you know that every single day. We like to call our firms BIG BROTHER. This is a highly regulated industry and you can’t do the same things that let’s say a Kirby vacuum cleaner rep would do or a lawn care business. That doesn’t make them a scam it let’s me know they follow FINRA to the letter.

    I came across this site while doing due diligence to see if I want to obtain more information about WFG and I had to respond to the scam comments. This is a TOUGH business whether you’re building your own book or building a firm’s book. You have to be dedicate to making it work and honestly this industry will beat the hell out of you if you let it. It doesn’t matter if you’re earning a paycheck to build a book for someone else or if you’re building equity in your own book, you have possess an entrepreneurial mentality to make in this business. That doesn’t mean be shrewed, crude, brash, unethical or unmoral that means be willing to put the time and effort in to build your practice.

  15. Ran: All points are well made. People often forget the guidelines that someone in the financial services industry have to go through. I remember while working with WFG just to open a mutual fund account I would have to go through several documents like client account forms, disclosure forms, privacy notices, and other forms just to open an account, and then on top of that I would still have to have my branch manager sign off on the trade. Like you said it’s not like selling vaccums it’s a lot more work than that but I also feel and it can be a very rewarding business.

  16. If WFG is such a reputable company why dont they disclose facts/details about the position when they contact you?
    This alone validates earlier comments about this being a scam/multi-level marketing opp.
    Am glad I did my research and canceled the interview before being scheduled. Thank you to all who tell the truth about this organization

  17. I am just starting with them right now and I am having doubts. I have not paid my $100 yet and my recruiter keeps asking me for it. Actually, the woman that invited me to one of the meetings works under the woman I am speaking of; the recruiter. I was in her office yesterday and many of the plaques on her walls are awards for top recruiter, so I wonder…I am still not sure what I am going to be doing so far. When I ask, she just says it will all be explained later on during my training, AFTER I give her my $100. She just says they sell life insurance, mutual bonds and help people with debt consolidation.

    Last night, I went to a training meeting. All I heard was how this person or that person got started, how they were in a bad way before starting with the group. I wondered where was the training. I get that I will be “helping” people, but what I noticed was that they insist on me handing over the names of EVERYONE I know! I told her I did not know the last names of some people, she said that didn’t matter. She said I was to set up appointments with some of these people starting next week and that she would be going to these peoples’ homes, that I was supposed to call them up to set up these appointments and she gave me some pages that had all the ‘lines’ I was supposed to use on these people; my friends and family. One even said what to say if they asked if it was an MLM plan. She didn’t elaborate on that one. She told me to emphasize that they work with reputable, financial companies. And she told me that if they asked what the meeting was about specifically, that I was to say that I couldn’t tell them because it was too complicated but that the person, this recruiter, would be explaining all of that when we got there.

    Now, all of these people I’m supposed to line up, well, I was told I was to tell my friends and family that I was starting my own business with a financial group and that I needed ‘practice’ and that if they would be so kind as to sit through a presentation about the company in order to help me out as I would be watching this person in action. At first I thought it was all okay as I would need that training, but then she mentioned a customer out in Kansas that she spoke to that same day. She said it was some family of some other agent under her. I thought that was strange. Why would SHE have them as a client and not the actual family member that was an agent with the company. I kinda got the impression that I was lining up potential customers for this person. Then it made sense. SHE would be getting them as a client because of the people she recruited.

    So I’m going to hand over all the people I know to someone else so they can get them as clients??? This makes no sense to me. All I know is that I do not want to bother any of my friends or family with this. I really like the idea of helping people out but I am really not sure if I want to throw my friends and family into this. She likened it to me opening up a restaurant…who would I invite? I was being polite, but I wish I could’ve said that in that example, those people were coming to eat, not to hear a presentation! They were going to pay once and then leave…not get involved with paying a monthly amount into something like life insurance.

    Also, many years ago, I sat through a PrimAmerica metting and was told a WHOLE lot more that what I’m getting now. I asked about it since they are very similar and she told me that this company got started by three PrimAmerica agents that left the company to start their own. Hmmm, I thought, that’s why it’s so similar.

    When she asked for the names of ten people that could give character references for me, I called them up each and told them soneone might call asking for me. One of my friends asked what was the new job about. I said it’s not a new job, it’s a company, a financial one. Again, he asked, so what would I be doing for this company? What did it involve? I asked if he knew about PrimAmerica and he said, oh yeah, those people…they approach me ALL the time, trying to invite me to meetings. I felt so bad that I was now going to do that to him. I almost feel I might lose some friends!

    So, I am to go to another meeting this Saturday. I am to be there at 9am and it takes me a half hour to drive these. No one’s paying for my gas right now and it’s expensive as I drive an eight cylinder. I know, I know, all I have to do is say no and I won’t have this problem anymore. I am very curious about the company, but not enough to drag my friends and family into it the way I am being asked to do. I will ask about this and if i am told there is no other way for me to join, then I will decline.

  18. I just want to say that I am not a WFG employee I did however attend the meeting and sat with the interviewer. It was not for me so I didn’t sign up I like to work outdoors I’m a union electrician and the person who tried to recruit me was also a electrician. She gave up a $100,000 career for this company so I checked it out and by the way she only needs a semester to complete her electrical engineering degree. The reason they don’t tell you everything up front is because of narrow minded people who already have an opinon, that is a big obstacle to over comein such a short time. I did my research into the company also before I went to the appointment and looked on the BBB website 0 compaints, and after reading the reviews and then going to the meeting I came up with a few conclusions. 1) the people going into this thinking it’s a scam will find was into making it seem like a scam therefor defeating themselves. 2)Ask yourself are the products good? That for me was a good indication that it wasn’t a scam. The products the service are the same products that the other named companys give. So where is the scam in that? 3) Try starting a business it’s a headache and a financial drain I tried and it sucked. I should do WFG but I know I just wouldn’t want to do it. Even though I didn’t join my friend helped my with my finances and structure my spending and help set up my retirement accounts though life insurance and turned me onto some really good books that have been benificial to my. Good luck to those who try it it’s not for everybody, and for those who think it’s a scam good luck with whatever you do.

  19. It’s a total scam. Legitimate insurance companies would not try trick people into coming to their office. Ya, one of their sales people in Colorado called me using a ‘charity’ name and pretended to have work for my local small business. He said it was urgent so I rushed over there. When I arrived he was like oh, we don’t have any budget for that and then of course got to the point-he kept trying to get me to come to lunch to sit through a sales pitch for insurance. Criminal.

    It’s bizarre to me to read the zombie pro reviews when the reply is that people make money working there. They are obviously brainwashed and lost the moral compass way back. As if that would make it okay to con and deceive people. I’ll bet you could make money selling crack but we all know that is illegal and unethical. So is lying to local business people. So is using a charity as a front to sell insurance.

    There are real insurance companies out there and this is not one of them.

  20. “Seek and thou shall find”

    Amazes me how people bad mouth WFG and know nothing about them. It’s all just hearsay. People may attend an overview of the company, but not fully understand the benefits of the company.

    If you want to find the bad, anyone can find it. How about a challenge, how about look for the bad in say: Bank of America, Type Pope Benedict XVI in Google and see the searches you find. How about bad reviews on President Obama, complaints with the American Red Cross? Ooh how about Any Satellite or Cable company? Maybe a complaint or two about GNC? You will find complaints every where. I don’t know, how about instead get the facts before giving them bad rep.

    WFG works with over 74 top companies, to name a few: ING, Pacific Life, TransAmerica, Prudential, Western Reserve Life, Old Mutual and Allianz. To say that WFG is not a reputable company is to say the United States of America, because of our huge debt is a bad place to live.

    Who do you have your 401k with right now? Most everyone has TransAmerica. Uh oh better pull your 401k out. After all you don’t want a company like TranAmerica to be associated with WFG.

    All the companies mentioned are Billion dollar companies that have been around years upon years.

    Say you join Farmers (a good company) what can you offer as a sales rep? You can offer Farmer’s Insurance. Can you sell them Geico insurance? Can you sell them Century 21 insurance? Uh no. You can only sell FARMERS insurance. Well with WFG you can find the best match for the customer by offering a multitude of companies. You are not limited. You have a access to a huge assortment.

    When a WFG Rep sits down with a customer and tell them how they can transfer the customer’s money from a bank account at a saving of 1.2% to say an annuity with a GUARANTEE 8.35% most customers well are totally delighted.

    Oh and how much did that customer pay the WFG rep for coming over, help them develop a better financial plan, spending maybe over 2 hours discussing their options? Zero! The WFG’s motto is: “No Family is left behind”

    How does the rep earn money? The customer say transferred their money into ING at say a guarantee 8.35%. Say the customer (as an example) transferred $50,000. ING (or whatever company) pays a standard 7%. You as rep BEGIN with a commission rate of 25% (what company do you know starts you with a commission pay of 25%? Who?!!) So $50,000 x7% = $3500. You earn 25% of that and that equals: $875. You earned $875 for helping a customer earn more money on her money.

    Let’s say now you go out and get others to do what you are doing (similar to a Broker / Agent relationship) Say you moved up the ladder (which is easy to do by the way) and you are now earning a commission of 45%. The rep helps that customer. He earns 25% and you earn the difference between 45% and 25% which is 20% – You are out in the field helping another customer with their financial planning and the rep you trained just earned you $700. ($3500 x20% = $700)

    Oh and a year goes by and you have written say 40 policies (that is low by the way) and now you are earning 10% overrides on each of those policies for LIFE! Nice pension plan, eh? What does your company offer? I bet it offers a 401k plan, right? Guess what happens when you cash in that 401k plan upon retirement? You are TAXED. You might get 1/2 of what you put into it. Wait!, Nobody told you that part? Uh yah… look it up. Of course if you spoke to a WFG rep, he or she would have told you that shocker.

    Yep WFG is a horrible company. Hahahaha.

    Why can’t you just do your own research online? Sure, you can do that. I guess you can fix your own car too if you have a problem. Perhaps if you are ill, you can just treat yourself, sure it’s possible.

    WFG (Licensed Insurance Reps / Financial Advisers) have INSIDE information from the companies that are offering specials and deals to help promote their business. How do you get this information? You must be a licensed agent and you must work with a company that has access to a multitude of companies.

    Has anyone ever heard of a company called Jackson National? Well a WFG rep came to my home, sat with me for over 2 hours and I moved my 401k which was earning -6% to a GUARANTEE return of 15%. I had to have a min of $8500 and it’s only guaranteed for 1 year and I have to keep it in for a min of 1 year, after that it does drop in 1/2. However the rep said; no problem in a years time we will re-evaluate your options and see if we can roll it over to another company that might earn more than the 7.5%. So I am VERY HAPPY with their service!!!

    I am now looking to joining their outfit. I have been to a couple of meeting, hence why I know so much. I don’t listen to people who THINK they know about WFG I went to their meetings and listened like a investigator. I was even trained in their Fast Start program. I have a friend who got me in. I wanted to know EXACTLY (based on FACTS) what the company is about.

    Yes they do charge $100. What does that ONE TIME charge go towards? Background check. They handle all of your paper work, provide you with a multiple of websites you can use to promote your business and handle all of your customer service calls. They also help you train all of the people you bring in. They go out with you on service calls and if you feel uncomfortable at first, they will do ALL the work for you; you simply watch and learn and they will split the commissions.

    You are NOT an employee! You are a 1099 – Independent Contractor status. You get to write all your expenses off. Oh by the way they teach you that too.

    How does one learn about money? Annuities, Securities, Insurance, Saving money on your taxes, Borrowing against your Life Insurance.. Many will have to go to seminars, take classes, shell out bucks to learn all of the “Inside information” Some do, some go to college to learn. When you become a rep, how much does WFG charge you to learn all this? Oh yes, that is also included in the ONE TIME $100 charge. So the answer to that question is NOTHING!

    WFG’s motto: “No Family is Left Behind” I am eager to learn how I can help a family save money for their future.

    My motto: Walk in Love!
    Picture a boomerang: On one side is: Love. Passion. Kindness. Caring. Understanding. Patience. Underneath that is: Hate. Anger. Whining. Frustration. Annoyance. Complaining. Now on the other part of the boomerang it says: What you put into life you get back. What do you want back?


  21. Thanks for the great comment Jark. WFG really is a great company, however it only takes one bad apple to say the whole company is a scam when they haven’t even been to the home office or met any of the top leaders in the company. Personally I’ve met a lot of the top leaders like Ed Mylett, Jeff Levitan, Bill Mitchell, and Tom Mathews to name a few. In fact I’ve been to their homes and I can tell you without a doubt that this a great company.

  22. WFG is totally scam. I joined about 2months and was shocked after I found what is going on inside of the company. First, they don’t train the products, but ONLY the recruiting. They say “Bring more people, bring more people”. When I recruited my friends, my SMD always met them with me. In the meeting, she tried to sell insurance to MY FRIENDS!! To the friends who came to join the company.. She looked people as her prey. All the SMDs are same. Another thing, after people join the company, they seduce members to buy the insurance from their uplines to get EASY promotion. There is 3/3/30 rule. From bottom position, they have to make 3/3/30 to be promoted to Associate. Three people recruits, 3 product sales, within 30 days. And the 3 products should be $1000. That is not esay for normal people. Eveybody fails to make 3/3/30. Then they approach to you and say there is easy way. Buying insurance from upline to get promotion. Actually people buy it. I saw some people who don’t even have license buy it from there upline and promoted to Associate. Stupid!! A man who doesn’t have license bought insurance for himself, for his wife, and for his daughter (total $500 monthly premium) to get promotion. I don’t think he is not smart enough to pass the license test, and his all upline people know about it. But they say to him that “You will make huge money when you get license”. He believes it. The man is not that smart, and in hard situation economically, so he joined WFG to make money. His upline people use it and make money in that way. Not only him. I found out most of the people who is still doing business in WFG were promoted in that way. They pay the premium monthly dreaming they will make huge money some day although they are suffering now.

  23. And even conventions!! They prepare many events in the company,, saying that.. to help members’ business and give motivation to them. That is CONVENTION!! They have many conventions yearly. They push all the members to participate in the convention. NO exception!! If you refuse to go to the convention, they treat you OUTSIDERS!! No choice. Thing is.. the members pay all the expenses, transportation, hotel, food, and even the ticket to get in the convention. I paid $45 for the ticket. In the convention I went, about 4 thousand people participated. That is about $200,000. People pay all the expenses, so the company pay only the rent for the convention room in the hotel for 2 or 3 days. How much is it?? The left money?? The CEOs of each branches share. It is their extra income.

  24. My best friend joined this company last year. I’ve known her for 22 years. We were pretty inseparable. When she finally told me about this job (of which she kept from me) I was confused. I didn’t understand it, so I was questioning her about it. And at first, it seemed like she was just pitching lines to me. I wanted a genuine answer from her. We were so close, sometimes we don’t even have to speak because we already know what we are talking about! But when she started this job, it was like she was someone else. I knew she was different. But as her best friend, I supported her. I was ONLY negative to her job because she was changing and completely neglecting our friendship (not to mention I had gone through a terrible loss of a late boyfriend). Now, she does not speak to me. Tell me how a best friend of 22 years can just walk out on her supposed best friend who was vulnerable and grieving. I don’t know if this WFG is a scam, but it was definitely changed someone I thought I knew and I am NOT A SUPPORTER!

  25. I was another one who has been thru alot of thought into that “am I doing the right thing”, I’m no dummy and been around the block more than once, but WFG, has not proven to be a scam, 1) Is because the government SEC, state of CA., Federal Gov, and many more gov. organizations that are watch dogs for scams, and 2) Just look a BBB, man what else do you need, 3) The main reason it does not work for many is, lazieness, fear of reaching out to people (WHICH IS COMMON IN ALL SALES POSITIONS), also a person who comes on board has to have a desire to make this work, helping families with their futures, and working the program, there are famous people who know us, Tony Dunge, Carl Edwards and Cal Rippen, I think that how you spell his last name, now how come their not saying anything about it beinging a scam, and why all the companies that are world know, such as ING, PRUDENTIAL, TRANSAMERICA just to name a few why haven’t they complained and put WFG name out in the media, are we a scam people through out the centuries have always had lynch mob, finger pointing atitudes, the presidents bad, govenment bad, our kids are bad, people from other countries are bad, even music is bad, on and on, if you look at it, it’s our,your and my opinion, whats good for some may not be good for others, have you ever wanted to watch a movie and someone told “I seen that movie, and I didn’t like it”, but you went to see it you loved it. Even if does not work for me, I know that it’s not a scam/ or Pyramid scheme. I failed somewhere down the line, I lost my sense of ergency, I got complacent and didn’t make it work like I should have, and I lost my dream. NOT WFG

  26. Hey, I am part of Eric Olson’s team. I wanted to just say thank you for posting this. I’ve been in the business for over a year and this company not only has elped my family get into a path to financial freedom, but has helped me grow as a person as a whole. WFG has changed my family as a whole, my entire family is in my Uncle’s Hierarchy and he just hit Senior Marketing Director. This business has brought my family together and we will grow together.

    People think it’s a scam because of all the money you could be making, but what they fail to realize is that you have to work for that money, like a job. The only difference is that you have unlimited income potential, as opposed to an hourly rate (most of which suck by the way).

    With regards to the bad apples, I think they should be terminated. WFG has a system in place and those bad apples failed to follow it. They weren’t coachable, they weren’t disciplined; they treated this company like a get-rich-quick scheme.

    I love this company, and I plan on making it here. I know I will, I’m only 19 years old. Give me ten years, and you’ll see my name as an EVC here.

  27. Sorry about the late reply Neal. That’s awesome to see the success you are having. Two big points I would like to take away with that is that is it helps a lot that you have friends and family members to help you out along the way. I didn’t have that so much when I was I was with WFG. My offices was 2 hours away and I didn’t have any type of great support system in place to keep me going. I think having support system in place and seeing the success of others around you helps a great deal.

    Second, having someone like Eric Olson close to you is also a great motivator in itself. I remember seeing Eric Olson speak at a few conventions back when he was first getting started and he managed to move up the ranks very fast. In fact I think it only took him a few years before he made it to SVC.

    As for the bad apples I totally agree, these people seem to give everyone a bad name even if it’s just a few people. I worked with the company for 4.5 years and never once did I feel it was a scam or a rip off. You either put in the work or you don’t and those who do have a very great opportunity on their hands.

    Good luck Neal, let me know when you make it EVC.

  28. I recently stumbled upon this due to a friend. He did not go into too much into details except he told me that he goes to this financial company on Saturday mornings to learn about finance, investments, etc.. I am currently a student that is majoring in Finance and I decided to check them out since it related to my major. Half the stuff they explained during their new member orientation were materials and concepts that I have learned in school. There were some new things during the presentation as well. The 2 presenters were nice people and they showed a lot of passion within the company. They gave a good background story of their lives and how they praised Transamerica WFG for changing their lives for the better.

    Honestly, I lost track and interest during the presentation because they kept going on a rant about how Americans are not saving and investing their money correctly. When the presentation was over, they passed out a piece of paper to fill out if you wanted to join them. He mentioned a $100 one time fee, which I thought was odd. I decided to back out of it because I did not like how vague they were and how their business structure was funky to me. Fortunately, the employees were nice and respectful. I told them I was still on the fence and not sure if I wanted to put effort into it. They kindly respected my decision and told me they are always open if I ever wanted to come back.

    I am neutral when it comes to the whole “scam” debate since I did not invest a lot of time and effort into it. My friend is putting some effort into it and I haven’t seen any results from him. All I have to say is that if you are unsure, then just keep asking questions. If they are dodging your questions and giving vague answers, then it’s best that you shouldn’t do it. Again, this was definitely not for me, but maybe for you. I don’t want to sound like a jerk, but I didn’t choose to go with it because I am still young and I know I can get a different job within the finance field.

  29. Hello all! People will say negative dumb things because the underlying reason is ignorance. It is the main cause why we have prejudicism in this world. People judge and stereotypical. You ask why? ‘Coz people are people. One thing I can say about the whole blog. If a company is a “SCAM” then report them and sue them if there were any damages done to you. You might even get money out of that. But as far as I have read not a single soul has reported this company for a scam charges. Stop being haters and ignorant. We have so much hate in the world and you guys are adding to it. If you hate the WFG so much report it and see what you can get out of it. If you can’t do so that means your ranting and raving is just all NON SENSE. So shut up and move on with your life and hope you can make it better. STOP being such a losers. For the rest of WFG if you think that what you do with family is good then be proud and let all of them know what you do. Let them know all the information that they need to know about the company. Of course there will always be dumb people in this world that will not understand everything. And in my line of work I evaluate all kinds of people on a dail basis. Let me tell you, those people that are dumb and igmorant are the ones that are so negative and losers. There will always be Ayers and Nayers. Good luck to all of you wether your closed minded or open minded in other words dumb and smart, hope you will find peace inside you.

  30. I have been in insurance since 2005, when I started with WFG. I stayed with the organization for about 4 plus years, because I was transitioning into insurance. I have since moved on, representing myself with a reputable health insurance company.

    WFG is not about training. It’s an MLM about recruiting as many of YOUR FRIENDS and FAMILY as you can, while those that recruited you attempt to sell them Life Insurance and/or talk about refinancing their mortgages into an Adjustable Rate Mortgage, while borrowing against the inflated equity.

    HINT: Life insurance is one of the hardest pieces of insurance to write, which is why going into your warm market, and the warm market of your friends and family is needed to fuel the machine. Yes, you may get a piece of that IF you manage to pass your licensing in time to do so. If not.. you get nothing, and are left hoping those you recruited will recruit others so you might get a chance to make some money. Remember.. you gave your best leads to your upline. all in the name of “training”

    Now, of special note.. I was with WFG when the big thing was representing the negative amortization loans (those adjustables with teaser rates, that later wound up with people underwater on a loan at a rate they could not afford). I never agreed with the use of the adjustable rate mortgages, and was never told that I had to sell them.. but the focus of the training you would get was centered on “take out an ARM,, borrowing against your equity, use the money in some insurance product.. etc”. Many made great money doing just that. Ask your CEO. I just never agreed with that philosophy, so never offered that to any of my family/friends.

    Okay.. all the negative out of the way.. what IS WFG good for? If you already know you want to be in the Financial Services Industry.. it is a cheap way to get that lesson.. (not counting the lost friends and family). I would suggest you get on with a Major Insurance Company, that will train you in Life, Health, Home and Auto. Become Licensed. Learn how Insurance works, and how to overcome objections. Find out if it is for you. If it is.. WFG offers you access to a great line of insurance products, that you can represent. It’s an inexpensive way to own your own business, that the tools they give you will help you GROW your business. WFG is not for everyone. But if you are looking to be independent, and successful, and have the ability to represent yourself and the products.. then WFG is really worth looking at.

  31. I started with WFG about 3 mths ago…I can honestly say it is not a scam. I am not yet fully licensed and have heard some information in the training regarding retirement that I question. Yet, I am a firm believer that WFG is most certainly not a scam.
    1. WFG is not an insurance company nor is it an investment company. WFG is a financial services MARKETING company. That means that it is in the business of providing various products to the consumer depending on the need of the consumer. They are in essence a brokerage without functioning like a true brokerage where it really is a dog eat dog world.
    2. There are most certainly unscrupulous people in the company, but that is common in many companies. I can honestly say that most of those individuals for the most part get weeded out because they don’t follow the mission of the company which is to help middle-income families.
    3. There are two ways of building your business with WFG. One of them is the World System Builder. It relies on the system of 3-3-30. The definition is have 3 recruits and 3 financial strategies in 30 days and you will become an associate. A previous poster wasn’t very clear about it and that said to me that he didn’t understand and I always believe if you don’t understand something seek clarity before shooting your mouth off negatively about it. Your recruits come from your warm market. The financial strategies (sales) comes from the same recruits that you would have brought your trainer in if you do not have a license. Yes, in the beginning your trainer takes those initial 3 sales but guess what – it’s part of the system – you train your recruits the same way. No one gets left behind and you are ensuring that you are getting paid while at the same time supporting your recruits to do the same. If your recruits aren’t successful…guess what… you won’t be either.
    4. I think the big misconception about WFG is that people don’t seem to understand that this is a business, not a job. You are an independent contractor who will eventually become a broker (once you pass all the licenses). WFG does provide training on the business rather than the products because you need to master how to run your business. You are part of a marketing company that has access to a ton of different financial solutions so to know all the products inside out is ridiculous. You only need to know enough to determine what is the best one as a solution to the client. If there is a need to know in-depth knowledge of the product or its provider you can easily refer the customer to the provider who can give excellent detail about it. How is that a scam?
    5. Again to reiterate on compliance…if you were a customer or recruit would you look favourably on a company that had advertising, business cards that was incongruent with the corporate image or even what the company stood for? Again,compliance is there to ensure that all financial services institutions are operating according to the very strict standards handed down by the government. This is about taking care of people’s financial health. You have a fiduciary responsibility to clients and the public so having “any old ad” or printing up your own business cards is out of the question. I too asked about having business cards and in essence I was told I had to earn the right to have business cards. I need to follow the system and work the business correctly…then I can have my own business cards. You know what, I won’t argue with that. I have other ways to pass on my contact info with people and it suits me just fine.
    So for all the people who have nothing but bad things to say about WFG…check to make sure that you are basing your negativity on truth about the company, rather than your “feeling” or “hunch” or even personal experience – Especially when you haven’t been in it long enough to make those kind of judgment calls..
    The only thing I would say to people if they are thinking about joining is make sure you have a job or steady stream of cash flow before taking on this business. You will need the money to pay your bills while you a are going through the process of establishing this business for yourself.

  32. Oh yes and I should mention, I’ve been a client of WFG for 7 years before deciding to join…I dealt with someone who was not the greatest and decided to try and take matters into my own hands so to speak. I realized that the company is great, it’s the few individuals who lack adequate training or understanding of what being a licensed associate actually means…which is know your client and understand you hold someone’s financial future in your hands so take it seriously at all times…just in case you thought my 3 months wasn’t enough time to give my “rant”…

  33. Calling WFG a scam is probably not the best description. I was with the firm for over 14 years, going on most of the company trips and making a six figure income. The income and money is real. So is the culture of deception. I’ll explain. (call me at: 801-941-8800)

    I’m a big believer in always telling the truth and being up front with people. I believe that the character of an individual starts with a rock-hard decision to be honest. With that said I will give anyone reading this that respect, the respect that I was not afforded when I made my decision to join WMA/WFG/TFA back in February of 1999.

    The WMA Securities (Now WFG and Transamerica Financial Advisors) OSJ Branch Manager / Senior Marketing Director who help me come into the company back in 1999 told me with zero doubt in his voice that: “You contractually own your business”. I needed to know this because I had just spent time at a company where I was captive and had no ownership. It was one of my biggest concerns and obvious questions.

    Fast forward to January of 2013: (call me at: 801-941-8800)

    I was having some great success with my WFG business. I was a EMD, going on all the Hawaii trips and had been on the last Tahiti trip. The money was great and life seemed blissful. I was somewhat disenchanted with some of my leadership and some of the interactions they had with me in the past and it caused me to reflect on who I wanted to continue to be in business with long term. I decided for the first time to really read my AMA (associate membership agreement/ the thing you will pay $100 for) contract. I put my finger on the first letter of the first sentence and slowly digested all the legalese that was before me. When I came to Section 2 part B I was stunned! It was a horrific revelation that I reread over and over to try to make sense of it. This is what I read:
    II. Associate’s Duties As A Member

    B. The Associate understands and acknowledges that WFG is in the business of assisting its members in building business to provide Products

    and Services to the consuming public and that these businesses are valuable assets of WFG. The Associate acknowledges that WFG owns all rights in

    and to the following: (i) WFG, which, for purposes of this Section II.B, includes all persons who have an in force Associate Membership Agreement

    with WFG; (ii) the identities of and all lists of the members comprising WFG; and (iii) the identities of and all lists of the Customers of WFG (even

    though the Associate may not have recruited any of the members or produced any of the Customers) which constitute property owned solely by WFG.

    Associate agrees that Associate shall have no proprietary interest in, or ownership of, any Customers, other associates of WFG including Downline Associates,

    or Products and Services. WFG shall have exclusive proprietary interest in, or ownership, of all Customers, and contractual relationships with

    other associates and the Product Providers. (call me at: 801-941-8800)

    Honestly, I felt like I had been punched in the gut. I was sick to my stomach. This is when I started looking into this even more and found that the reality was only a very select few will ever really be able to benefit long term from this contract. And even then, they will have to convince someone to pay money for the potential future income of a code number that WFG really owns. It’s kind of like deciding to build a house and working hard to construct it, paying on the mortgage for decades just to find out years later that you were just a renter and not an “owner”. In good conscious I could no longer look my team members or a new recruit in the eye and tell them they could really build a business they owned at WFG. WFG and TFA will always “own” any client relationship including client files etc. They will own all associate relationships. They even “own” the WFG associates prospect list.

    It became clear that I needed to look in a different direction and to a company and/or system where I could be completely transparent and honest with my team members both present and future. WFG no longer could afford me this.

    I understand being part of WFG if this was taught and was fully understood and disclosed within the company. If this is what people expect, understand and agree to that is fine. However, a culture of deception has been created within WFG from the top down.

    I’m sharing this because there is another option. One that contractually gives you full ownership of your clients and client information and allows you to build a business with “True Enterprise Value”.

    We have taken the best of what we learned at WFG and have built a company that you can be proud to be part of. One where transparency is the key to success.

    Our base contract starts at 50% and the leadership base contract is at 75%. Then we have a quarterly bonus structure that puts many of us in the 85%+ range. GVCA is owned by the advisors and employees of the company. You will have equity ownership in the company you are helping to build.

    Overrides are three levels not six. After all these years how many associates do you have generational beyond three levels? I had zero after 14 years! The vast majority only have one maybe two.

    Here’s the final point. More and more WFG associates are learning about Global View Capital Advisors and our RIA Global View Capital Management. We are attracting associates from all over the industry. We are attracting brand new people to GVCM because we start them at a 50% not at 25%. We have higher payouts because we pay on GDC (Gross Dealer Concession) and not on a point value with no transparency. And on and on…

    We all appreciate the time at WFG but realize that we just outgrew the company and opportunity. If you don’t see this and take a serious look, I can guarantee many of your team members will eventually.

    Also, please think about the “true ownership” value proposition I am sharing.

    So is WFG a scam? I’ll let you decide. Do you want to build something that ultimately a global 100 company (AEGON / WFG) owns? Is it important for you to “own” what you are building? These are more important questions you should be asking. Do the research. At WFG YOU DON’T OWN YOUR BUSINESS, PERIOD. That is not my opinion, that is contractual.

    Best Always,


  34. I just had a brief over view of WFG last night
    The local lady in my area set it up with her business partner.
    He is obviously the recruiter for the area. She just brought the lead to him.
    I felt kinda slimed after I left.
    I consider it an MLM but with financial products.
    Obviously don’t own your own business.
    Lots of the same captions as other companies…. your’e in business for yourself, but not by yourself.
    I am not joining. I offer a reputable product that I can be proud of and sleep well at night.
    Just reading some of the comments above has confirmed what I thought.
    Staying away!!

  35. Personally I don’t think that WFG is a scam, but I do think that it is a pyramid scheme. I was introduced to the company by a friend of mine and I went with another friend to their seminar for new prospect. I didn’t like the speaker they had. She started talking about about how the commission works and how prospecting can take you to bigger money opportunity. Then she talked about life insurance and how “it can save people’s lives” and how it is a “great legacy” to leave to your children. I didn’t like how she was coming across. After the seminar, they give you a certificate of completion. To make you feel like you have accomplish something when you have done nothing. You pay $100 fee and a required $25 to buy the book of the head trainer. Both fees are mandatory. Needless to say, I came to the meetings every Saturday for the next 2 months in what was describe to me as “training”. Training started with recognizing members who passed their license, reached a certain milestone and etc. Then, they called an SMD (Senior Marketing Director) to the front to “motivate” prospect. For 8 Saturdays that I went, all I get is people motivating you by crying and telling you how they save people’s lives. People crying every Saturday morning is not my ideal way of spending my weekend morning especially if I have to get up at 7 am to get there on time. Then after 30 – 60 minutes of that. A speaker come up in front and “trains” you. Brings out this blue book on how to save people’s lives. Tells you of a scenario that they or a team members had experienced that ultimately leads to the conclusion that you have to sell them life insurance. It basically drills in your head that you have to sell insurance, nothing more nothing less. That’s the training…. “Sell Life Insurance & Recruit Members” After 8 weeks I have enough of it. Is WFG a scam? I don’t think so. But is it a sleazy company? In my opinion yes.

  36. I have worked with WFG for quite some time. WFG is the company I’ve ever worked with that truly helps people from and job opportunity perspective to a Financial Security net for the families that we serve.

    Every office is very similar but yet different. The office that I work out of really truly cares about people, and the opportunity is amazing. I was going through depression due to my own personal reasons at the time. If it wasn’t for the personal development, as well as the Association I don’t know where I would be. You see, I can’t talk about every office and the motives of every individual but I can talk about my office and myself. We are business partners, yes, but we are family. The personal development in this company it’s phenomenal and there is nothing else like it. The $100 is is not only for background, it’s to set up your 1099 which they keep track of for you and at the end of the year and throughout the whole year you don’t have to keep track of your business. It’s also to set up your own website. As well as, the main web site they they provide is like no other and the tools that you are able to utilize is worth millions and millions of dollars. The $100 does not go to your upline at all. What quality business have you been able to start for 100$-none. I’m a business major. In business books all across the world it says it can take three year to really get your business going. I wouldn’t advise anyone to stop going to school or to quit their day jobs until your business is blooming .As an entrepreneur nothing is given to you, you have to hustle. Otherwise we would all be entrepreneurs to be honest. If you can’t do that then it’s not worth it- It’s not. Yes everything must being compliance due to legality. The financial industry is a multi- trillion dollar industry. Our parent company is Aegon on the New York Stock Exchange and our sister company of Transamerica. Even when buying a McDonald franchise you still have to comply with the overall McDonald system, policies and procedures. It’s no difference. At one time they said franchising was a marketing scheme and as you can see right now it’s one of the most profitable businesses out there the only difference if you have to have millions of dollars to have one. As an agent you get 100% of your commission. No one takes that from you. Is an agent it’s a personal development company with a high compensation and that’s ultimately the way that I can explain it.
    Now let’s talk about what we do for families. We provide a complimentary financial needs analysis which with other companies will cost hundreds of dollars. Here its complementary. As an agent, I don’t worry about the money. I care about helping families and people is not my source, God is my source. All we do is educate those families on financial literacy that the wealthy nose. There are loopholes and better ways to do things. With the financial industry you have your good better and best. We are non-captive agents meaning I am able to see exactly what a family needs,wants,and desires and put them with the very best product and provider that provides those products. My motto is Mission before the commission. We believing God first, family second and then business. The model of the company is no families left behind. My ultimate favorite part that we do for families as we educate them and we don’t charge them for that either. We educate families on financial literacy that wouldn’t not have got education elsewhere. We are able to take a complex subject and turn it into the simplest form so that someone which is the receiver through the channel is able to receive it. We educate families that other Financial Industries would not have even taken the time to educate. We provide superb service to whomever will allow us to serve. You see knowledge alone would not do anything. Knowledge is not power! The application of knowledge is power. Wisdom, and comprehension, understanding, and clarity on how to use that knowledge. From an agent’s perspective and the families that we serve decisions alone does not change anything, commitments do.
    I personally have changed so many people’s lives and I have seen so many people’s lives change as a result of this company from an agent’s perspective and the families that we serve. I don’t know about all the other offices and all the other agents. I just know about mine and I know about me. I’m also mortgage loan officer selling the American dream and even that in my opinion comes nowhere near to what we do for families here.
    So in closing I’m not trying to sell you on my business, nor does this company needs any explanation. This is my testimony not a marketing tactic. Keep waking up and going to sleep and you will see what this company does. No disrespect to you, no other company but this is ultimately the best company in the world. It just is! Yours Truly Petra Garza. God bless and may God continue to bless you and your family!

  37. I’m a WFG trainee now. I’m taking my rxsm Monday. The $100 also includes my own website. I had to pay $15 for my Background check, but Monday is my one month anniversary. I have 3 business partners and 2 clients. I will tell you that just like any job, everyone isn’t there for the right reason. Some for money, some because we truly want to help people. That was my purpose and what actually “sold” me. I’m a helper and knowing that I could get paid to help families? That’s wasn’t bad!! My friend went to another WFG, but wasn’t interested. She said she’d help me out with my field training and became a nember and a client? Why? Because it matters why a person is with WFG. If you’re just noney driven, you preaent differently, you’re not personable, you see people as checks. When you care and are truly wanting to educate, you come across differently. I’m happy! I look forward to being able to speak fluidly about what we offer so that I can dive in in and start gelping families. We all can use some financial education!!

  38. Guys please forgive my spelling errors!! I’m rushing trying to get to church!!
    Hope I covered all typos!!

  39. Hey Nichi thanks for sharing your thoughts. I’m glad to hear things are working out for you. Keep us posted on how things go.

  40. First of all this is a breadcrumb comment… meaning it is here for people to stumble across when they are in need of information on why not to trust this company. Second… I just lost someone I deeply loved because I wouldn’t support her by buying one of WFG’s policies… she never wants to speak to me again, very heartbreaking. Third, I have 4 published books… one of those is how to invest in the stock market for the average guy. I did a lot of research before writing the book and found that the market too was corrupt but the pint of that is I know a lot about all the different avenues one could use to save money for retirement. That will come into play a bit later.

    Now… I’ve been doing research on this topic of WFG being a scam ever since my friend asked me to help her out and I seem to be the only one using my head and seeing what it is we are not supposed to be seeing. For example… there are loads of people who counter negative comments with their own experiences. What people aren’t noticing is that these people ALL CURRENTLY, or at the time of commenting, work for WFG which makes anything they say biased to include their arguments. Id like some of those guys to actually follow up and see how they are doing now but I’m pretty sure they wont be working for WFG. Another thing is that there are loads of comments and counterpoints saying the company is changing their lives and the lives of people they know but no one EVER gives any QUANTITATIVE evidence of positive activity or evidence that can be measured in numbers and this is across all forums speaking on WFG. For example… if people really do make money at WFG then doesn’t any of them actually tell us how much money they make?

    Now. My experience. My friend one day texted and asked if I could help her out with her job. She said she need training hours for her job in order to stay compliant. Her being her I said of course. I show up and am immediately in the red… here’s why. I drive a really nice car. I always park it where no one else has parked to keep people from hitting it with their doors but that day she wanted me to park it right in front of the office so everyone could see. Then, when I walk inside, its just a big office space that is very unprofessional looking. There was nothing that mentioned any parent company anything on it, no office chairs or desks… no nothing. So I am then shown into a room where my friend and now someone else, who I thought was her boss, sit me down and give me a presentation. I knew I was gonna get a presentation but I thought my friend was going to be the one giving it. I was wrong. The presentation is about ways to save for retirement but WFG doesn’t do their homework on clients and what they didn’t know is that I have multiple retire and savings accounts and a book on investing in the stock market… so I just let the guy sit and try and explain this stuff to me and here is where another red flag comes in. They claim to sell a lot of different products but they only ever talked about one… some FIUL or something. FUTURE POINT: I did some research on this product and found that not many people keep it after signing up for it because they cant afford it. Not only that but you don’t get the money that was shown to you in the presentation when you pass. The policy has put more people in debt than anything. After the presentation was finished they tried to get me to fill some paperwork out as if I was gonna sign up for one on the spot… WRONG, and this is where I start to see things going downhill with my friend because she was VERY upset with me after that. Her boss though.. knew, and made repeated comments about how I knew what I was doing and that they don’t usually deal with people like me. I guess that’s why I never got a call about a great job opportunity.

    Well… to cut things a bit short I am going to address a couple things that I see people talking about but never really fully address. First… WFG IS NOT A PYRAMID SCHEME… IT IS A MLM. That statement is true by definition but read a bit further people for one is just the invers of the other. have you never heard of people changing the name of something to try and get more people to buy it? Well now you have. If you just read you will see the OBVIOUS pyramid lying within. Here’s another one… WFG DOES NOT PAY YOU TO RECRUIT NOR DO AGENTS GET PAID FOR RECRUITING. The first part is absolutely true and the second is a twist of words. WFFG doesn’t pay anyone to recruit but remember the terms upline and downline. The agenst get commissions from the policies they do manage to sell so what happens if you cant sell many policies… the common sense thing to do is TO GET OTHER POEPLE TO SELL THEM FOR YOU. So WFG threw in a snippet about you as an agent making a percentage of what your recruits sell and now it starts to sink in. RECRUIT RECRUIT RECRUIT. But Johnny… you get promoted based on how many policies you sell. That is true but remember its hard to sell these things and on top of that, for added pressure, WFG threw in the 3-3-30 rule and if you cant do that you don’t make any money. So… how do you get past that? You sell policies to your recruits that’s how. My friend bought two and after reading the 3-3-30 rule I now know why.

    One thing I don’t see here is anything about the convention trips. Anywhere else you’ll read about how the agents are pressured into going and if they don’t the they are basically black listed. My friend has been to plenty but… she never told me how she got there. What she did tell me is that agents get points based on the THE AMOUNT of the policy they sell. The amount is in bold because remember they get commissions based on that number as well and where does the commission money come from??? THE MONEY YOU PUT INTO THE POLICY!!! That’s a walk away if I ever seen one and yes… your mind should be racing and your heart throbbing because that means you are paying the agent who sold you the policy… not WFG. OFF POINT: This shouldn’t be a surprise to some because if you did your research youd see that when you have a retirement account you actually pay HIDDEN maintenance fees or fees for someone to maintain your account. WFG is no different with life insurance policies. ON POINT: Yes you get pints for policies so how does WFG ensure that they do not foot the bill for all these thousands of people going to these conventions… they set ridiculously high goal levels and when an agent cant meet this goal they are not told that they cannot go… they just have to foot their own bill. That’s room and board people MINUS the cost to attend which means WFG pockets all ticket expenses and pays only for the venue.

    How’s this. “If WFG is a scam then why haven’t they been shut down!” The people who say this line are in need of serious help because they only see what is in front of their eyes. Question… why don’t people trust the news? Because its never 100% true that’s why. So how can these programs stay on the tele and keep doing what they’re doing? Because of the money that’s how. Corruption is not just a word in the dictionary. This is America where money can buy you anything… even rights. You think the heads of these companies don’t do a bit of government lobbying? And remember this… people still watch certain news channels knowing they spout false stories.

    Some of these things are put right in front of you but people refuse to see. I strongly urge everyone involved, even those who currently work and defend this company, to go out and watch the movie BOILER ROOM. It is the same thing only with stocks. Heck.. you can even see this in The Wolf of Wall Street when JB looses his job on WS and goes to work for the firm that sells penny stocks. He made his commissions off of what those people bought. The amount of stock they bought. If you’ve seen that movie you’ll remember that the stocks were crappy and everyone who worked in the office looked like they worked in a strip mall parking lot but the big companies paid them to sling that crap HINT HINT HINT. Realizing how much money he could make from the higher commissions he went and started his own company and he started by… yep you guessed it… RECRUITING HIS FRIENDS who sold stocks for him and now this should bring to light who actually makes money in these places. If you watch Boiler Room you’ll definitely see it.

    Now I want to say this. There are signs of everything. Signs that your friend is depressed, signs they are thinking about suicide and even signs your friend is in too deep with WFG. I will not mention any here but I will tell you this. My friend claims that her only friend is her upline. She doesn’t go out and has a really nice car with a really high car note. She had a second job and although it may not have been one of the nicest.. she made a lot of money but now is spending the majority of her time, to include weekends, at her office space for WFG. And last but not least… on her social media accounts, her favorite thing to say is… if anyone needs a job just let me know.

    I have more things I want to say but cant remember because I’m really angry about my friend being brain washed. I want everyone who comes across this to know that I’m going to get my friend back. She is putting herself in so much debt and all because of this place selling her a false dream. I also hope that this helps a great deal of others.

  41. Sorry about that Johnny. I approve comments as I go on this site. I should have all your comments live now.

  42. Very Interesting comments.

    I am a natural skeptic, If I don’t know you personally, I don’t believe most of the things people tell me until I go do some research. A college buddy of mine told me about WFG and at first I was like ok this is an MLM and Ive done MLM’s before I’m cool. I have my own photography business, Im not trying to recruit anybody to do anything.., but i went to hear them out. Now the reason they don’t tell you much is because 90% of the people that hear hey I want you to come listen to this financial planning companies presentation, they’ll tel you .. oh i can’t my cat just got sick.. its just human nature. It took me listening to the presentation a couple times , going and doing independent research on the company, and the industry as a whole, and my own experiences with trying to figure out my retirement to get me to say this is a good idea. NOW, i paid the 100 bucks.. it was actually 100 for the company and 30 for an independent site ( I’m sure they get some kick backs of some sort ) that teaches you the Life INS licensing test material.

    Being that I have run my own business, I do understand the difference between working for some one and working for yourself. I understand the overhead a business would have if they had employees rather than independent contractors, this is a business move. and Im sure they save tons in taxes alone. You have to have dispel to have your own business, because if you don’t work, you don’t eat. Thats not a reason to blame the platform , or call it a scam because you couldn’t figure out how to balance your work/ and life. This is an opportunity to make money.. This is an opportunity to help people understand something most people have very little understanding of .. Is it easy ? sort of if you have the determination to learn… just like its easy to walk into a gym and lift 5 lbs , then 10 lbs then 20lbs.. anyone can do it , but not everyone does.

    The start:
    you do have to BY LAW no matter if its WFG or any other insurance company, have a license to get paid. That is a legal requirement, and not something you can work around. That is a state fee not a WFG fee, you do have to pay for the test, you have to pay for the license, you have to pay to be fingerprinted.. all that goes to the state.. and its not JUST for insurance.. just about any state regulated industry will be the same, go ask a cosmetologist.

    You do also have to learn how to sell. Most places will throw you out there and say hey go figure it out, here there is a system in place. You do have to be coachable, and willing to try it their way. They ask you to do the 3- 3- 30 for the first promotion which comes with a 50% bump in commissions 3 policies and 3 associates in 30 days. There is a bit of logic behind that. HUMANS love to succeed. and when you first start something you are gung ho and ready to succeed.. HUMANS hate to hear NO, and when you start something if you hear no, or you hear just about anything negative MOST people will quit.. don’t matter if its selling something, or learning to play an instrument. So the 3-3-30 I’m assuming was to get you on the path to success.. because once you get that promotion and taste success you will want more..

    10 of your closest friends:
    If you listen to any good sales people they will tell you, it is very hard to sell to your friends. They see you as the dude that crushed beer cans on his head.. or they’ll say .. what do YOU know about finance? why should I listen to you? This is where the mentor mentee comes into play.. they take over the appointment to teach you how its done .. and by the time you go through enough of them , you can recite the presentation, and answer a lot of questions people might have. Ive gone through 9 thus far, and because with 3 people buying products… one of them a good friend of mine that needed to figure out what to do with her 401K money or she would be penalized. We helped her roll over the money, and showed her how she was guaranteed not to lose her principal investment contractually, I will be getting paid a couple hundred bucks for making the introduction, Another reason they want you to get your friends is because you will be spending a good deal of time together , they want to promote a sense of leadership, and you cant do that if you dont really care for the people .

    As with anything you have to take it upon yourself to learn things , For one am taking this as a chance to learn everything I can about the products we offer.. Im not trying to put anyone in a worse situation than they are already in. WFG is not a scam , and is not an MLM, if you CHOOSE to build a business and leverage your time, you are no different from any other corporation , business , what ever. You do not have to sign agents. you can learn the business and offer your services to people in need and never recruit anyone, and you will still make money. Recruiting some one just gives you the opportunity to leverage your time. If you talk to a smart business owner, they will tell you if you create a business where YOU are the only money maker, you have just created a job for yourself not a business… good luck and know this life isn’t for everyone. Some people actually need people to tell them what to do when to do it , and are happy to get a paycheck every week. some people dont need that and prefer to make it on there own WFG is not a scam.. its just some opinion because something didn’t work for them, or some one told them they could do it , so they think YOU cant do it ..

  43. I just joined WFG. I paid my 100 on the first appointment, but I did not feel pressured to do so. I was explained what the company does, yes selling life insurance and retirement plans. They also told me that they put a great emphasis on recruiting which makes sense to me. I used to be a Tupperware representative many years ago and the concept was the same: sell and recruit others so yo can become a manager, have your own team, and get paid on what your team makes (and get a car). I did and no one thought that Tupperware was a scheme pyramid.
    I used to have my own business and I am not joining expecting to become rich overnight. I know that having your own business implies a lot of work, discipline, and disappointments, Not everybody is cut to be an entrepreneur. I know I would not blame the company if I don’t do well in this business. I just passed my exam, I will be getting my fingerprints today (an paying for it) and then I will apply for my license which I was told will take about 5 weeks. I am eager to start!

  44. The guy that recruited me was convicted of embezzling 20 million. Research shows he had 2 priors the company had covered up. It’s a scam (Centennial,Co office on Havana St)

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