You a Eri

They never pay its all lies

They never tell the truthe always more stupid serveys instead of paying off no money they spend money there is no money they have or keep all money from us lies is all they have is lies
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Anonymous
map-marker Sacramento, California

World Financial Group Seminar Review from Sacramento, California

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ANOTHER DECEPTIVE, WELL THOUGHT OUT MARKETING TECHNIQUE, LET'S USE WORKSHOPS TO RECRUIT NEW MEMBERS FOR OUR MEMBERSHIP BENEFITS. Then AT THE LAST WORKSHOP LETS PRESSURE THEM TO BECOME AGENTS, IF NOT PUT THEM THEOUGH ALL WORKSHOPS AGAIN.

when I saw the workshops I told myself that the company is now truly deceptive and I left. I said I'm going back to school and will work on my health (cause they transferred me under my cousin to complete his pyramid cause even he sucks *** at this. They literally have "a numbers game." They are told by their leader to recruit 10 to get 1 devoted leg, etc. They are told college is a waste of money. They are told you'll learn more financial knowledge here than anywhere else. They are PRESSURED INTO BUYING VACATION TICKETS TO GO ON 1st CLASS VACATIONS TO SHOW OFF TO THEIR FAMILY only to come home broke. After defending them on here at one point I decided to examine William3's comments to the T and have decided to join the force that will shine light on this company. Yes those "Educational" workshops are only there to eventually recruit you, look at CHAPTER 5, as a matter of fact I will post a whole workbook on here anonymously. (They told us not to because they're scared of the revelation) Chapter 5 clearly states how you become an agent with us... (Guess what, they probably pressured you to become a "member" already).

My question to you WFG-WSB folks...

1) Are these people really learning anything? Or JUST BUYING AN OVERPRICED PORTFOLIO?

2) Why do you stress RECRUITING MEMBERS if THE GOAL OF AN 'EDUCATIONAL' WORKSHOP is to EDUCATE THE USER 1st? On the HW of these workshops it says to BRING 1 PERSON NEXT TIME (MINIMUM!?!)

3) Why do you all make it sound like school will do nothing and JOBs will do nothing when clearly most of your agents are DEAD BROKE.. I don't care if x% makes 100,000$/ year because I checked that statistic, they don't earn it EVERY YEAR, that statistic counted how many earned it ONCE... Oh and DONT FORGET THE AMOUNT OF CHARGEBACK 60-70% of those people had... There's much more claimed losses.

I can't wait till the FTC gets you cause you overcharged my parent on an FFIUL policy when I'm already scratching for money for college and food... You did not require any financial analysis or DIME method and even if you did, THE AGENT DIDNT KNOW HOW TO USE IT! "Anyone can do this" NO, THEY NEED THE PROPER EDUCATION, LIFE EXPERIENCE, LICENSES, and SECURITY. I have all the literature they gave me and will start posting every week, BUT BY ALL MEANS, ANYONE ELSE WHO WANTS TO SHOW THE LITERATURE THEY GAVE DO SO, BE brave!

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Reason of review:
Bad quality
6 comments
Guest

Yes please post every page of every workbook, manual, guide, worksheet, contract, etc...so we can all see the inner workings of this group and confirm what we already know...they are only there to help themselves on the backs of unsuspecting families.

Guest

Yes please post every page of every workbook, handbook, contract, etc....you can get your hands on. It would be wonderful to finally expose them for who they really are....a MLM scheme with no regards for helping anyone but themselves.

Guest

Although I've only been at WFG for only a year and subsequently quit of course, I'm going to try to answer some of those questions and I apologize if it's not all too helpful but I still would like to contribute since I lost important relationships and money due to this terrible company. For the first question, those people aren't really learning anything in all honesty.

I believe it's mainly just to make them FEEL like they're learning something when they're are NOT. I was almost dragged into a workshop by my former WFG upline and just judging from the book he tried to push on me (stating it was 'informational' and written by Xuan Nguyen I believe), it's nothing of real content. It's basically a finances for extreme dummies. Even the 'For Dummies' books teach more.

Now a business major, I can safely say that it teaches nothing about real finance and investment. The book merely states rather basic terms and how some investment plans work, but never in real detail despite this topic being extremely complicated in the first place. Despite other types of investments such as government bonds and low cost S&P index funds being much safer, they repeatedly push you to buy an FFIUL under the guise of it being a "stable 'foundation' for money growth and that it is savings put under the life insurance umbrella to avoid taxes". He was also unable to answer my questions about costs and fees.

I say that verbatim from my former WFG upline by the way. For the second question, like I said before, WFGers stress recruiting in workshops to trick people into thinking/feeling that it's the path to riches and then gain new agents because of that to fulfill the pyramid. As for the last question, I can say it's so joining would sound more enticing. For my WFG branch in Houston, they mainly target uneducated or poor folk (mainly minorities) who are vulnerable or perhaps even desperate for some money.

By stating that college and jobs do nothing, it keeps new recruits uneducated and less likely to ask questions, making WFG appear viable since 'anyone can do it'. In addition, it would also keep those who fell for this ruse under their wing because many of them, once joining, refuse to educate themselves further in proper business finance. That's why some of my former 'friends' have failed to educate themselves in business. They make the argument that learning business or finances in college is useless yet they can't understand basic economic concepts.

They put down legitimate business programs and would listen to business advice from hacks. Even some of them who actually went to business colleges listen to their upline despite the fact that they barely scratched the surface in what finances are.

Thanks for reading this and I hope this somehow helps. I might be able to find some WFG documents and post them if I can find them (or still have them for that matter), but thanks for joining the battle to spread the word.

Guest

They try to get more people into the company by telling them to become members and "get educated" instead of just using the word recruit. Obviously another form of deception from this company.

Guest

That's the girl.. Be brave...

So this foolishness will stop. I am waiting for that moment to happen.

Guest

Oh, it's me again, I forgot to mention... I DONT WANT ANY NOOBY CONVENTION GOERS TO RESPOND, I WANT VETERANS WHO WILL GIVE NON BIASED POV.

-Liquid

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Naina Cqp
map-marker San Francisco, California

How can I find my mom maiden name so I can sing in

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Trying to do a inactivity transfer request, are asking for my mom maiden name having trouble
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Azel Gth
map-marker San Jose, California

People, it’s not “if” but WHEN the FTC cracks down on WFG...

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...or at least high-profile WFG contractor-agents.

It’s not “if” but WHEN Aegon/Transamerica formally cuts its ties with World Financial Group and sheds it, like Citi did with Primerica in 2009.

We may well see more cause to pursue WFGers than Herbalife. Contractor-agents for both Herbalife and WFG clearly stress recruiting over sales. They clearly show pervasive--rampant--pyramid-scheme behavior.

In terms of product, WFG arguably fares worse than Herbalife. Herbalife sells diet, nutritional supplement, and personal care products and suffers only occasional and short-lived safety issues, such as metal shards in its Formula 1 nutritional shake five years ago. Meanwhile WFG’s flagship product, Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy is, as WFGers typically configure it, a DEMONSTRABLY BAD and financially HARMFUL product that costs policyholders MUCH money. Thousands of dollars per year in premiums.

So why does the government pursue Herbalife first? In part, it’s because it sits back and lets the legal suits and grassroots outcry to grow strong enough and run their course. To pave their way enough for smoother regulatory action, or at least until the Feds can’t ignore the outcry any longer. Eg with Herbalife, it took years of high-profile actions by activist-investor Bill Ackman to force the Feds to act.

Fortunately YOU have the power to help solve this problem. These following firms and attorneys are some of the many who are actively investigating and/or have launched class-action suits against injurious and exploitative Universal Life (UL) insurance products. If you feel WFGers, and/or reps from another broker/dealer, abused you by selling demonstrably bad products like the FFIUL, you can contact them at the numbers below. They will be happy to examine your policy to see if you qualify to join in one of the upcoming class-action suits:

Lieff, Crabraser, Heimann & Bernstein: (800) 541-****

Zamansky LLC: (212) 742-****

Gerald Sinclair Flanagan: (310) 392-****

Travis Murray Corby: (310) 246-****

William Martin Shernoff: (909) 621-****

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Cons:
  • Pricey
  • High risk
  • Cult-like environment
Reason of review:
Bad quality
4 comments
Guest

Recruit first to be a team and worry about getting you license later is what they advise. New recruits don't need their license because your up line can sell the product and make more money without splitting the commission.

Guest

Their training sessions definitely emphasize recruiting with a little bit of financial training thrown in on the side. But the majority of their training is recruiting.

Guest

Do these class-action lawsuits go by different states? I would like to know more about my policy and see if I can qualify.

Prudencio Zlt

Yep. When the fit hits the shan, what happens to your client base and downline you worked so hard to build?

Dear WFGer. Please ask yourself: "Do I feel lucky?"

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Jamera Cou

Ex Agent needing 2018 **** tax form

Need to speak with a person to send my 1099 but was not able to be queued to a human being
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Reason of review:
Work Experience or Job Application
Anonymous

Cancelation my membership

I canceled my membership with them last year and they still charged me a fee for that I send a lot of emails and tried to call no answer.
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Russel Mew
map-marker Calgary, Alberta

T4A slip to file tax

I am an agent with I’d 19ywic. I have to file taxes but I haven’t received my T4A. Thanks Ravinder
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Anonymous
map-marker Sacramento, California

Review in Financial Services category from Sacramento, California

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World Financial Group - Review in Financial Services category from Sacramento, California

Hey it's me Liquid, I'll be posting anonymously cause I am in one of their offices, I write my reviews when I'm in Sacramento to fool them. But I received this.

I'll let you guys decide about this. These are the MEMBERSHIP BENEFITS CHECKLIST. They are literally forcing membership now cause they're in hopes someone will become an active agent one day. When I get my workbook back I'll post every page...

@William3 I can't wait for you or anyone to dissect the pages. I even got a hold of an FFIUL agent guide.

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4 comments
Guest

Who ? What ?

Never heard of them. Don't have the foggiest idea what you're rambling about.

You provided no introductory information, mission statement, costs involved, cast of characters, actions/malfeasance, conflict, attempted resolution ... a really lousy post.

Guest

Thanks Liquid..it's fascinating that we have to have a rogue agent to have the chance to see a contract and the price of a policy like it's the magic 11 spices for KFC chicken but we all know why this is done..it's so it's underground and the #'s can't be debunked if they are not shown...fascianating how WFG agents can defend #'s when they can't even show them...lol..

Prudencio Zlt

Thanks Liquid, please keep the stuff flowing here :-0. If you can do it it'd be great to see full copies of recent insurance policies and financial instruments that WFGers push their downlines hardest to sell.

You know, the big commission stuff like Transamerica's FFIUL and Variable Annuities. Complete with all the contract language and the policy data.

Guest

Liquid...You are awesome.

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Azel Gth
map-marker San Jose, California

**FREE** Analysis on your Insurance Policy and Other Financial Products.

I work as a Financial Advisor in the San Francisco Bay Area.

If you bought a product through World Financial Group, it’s urgent you seek a fiduciary to verify that:

- you paid and continue to pay a fair price,

- you bought a competitive product,

- you can reasonably expect your product to perform as illustrated and,

- your product does not expose your capital to unreasonable risk.

I’m willing, at NO COST, to give you BASIC first-line advice on your product. You remain completely anonymous because you remove all your personal identifying information from your contract before you post it here.

In exchange, you let the public see your product and to benefit from my analysis of it.

I especially encourage those people who bought annuities, especially variable annuities, and UL (Universal Life) policies such as Transamerica’s FFIUL, to upload their documents here for analysis.

Bear in mind I do NOT give you a comprehensive evaluation. I flag potential trouble areas in your product contract text and mathematical models. You'll still need to take your WFG product a reputable Fee-ONLY (not Fee-BASED) financial advisor to get a complete analysis and a clear action plan. However, I’ll give you a good start on this process. Because I do some of the key work for you, you’ll likely save money on the hourly fees you pay your Financial Advisor.

I will need to receive EVERY page of your document that contains contract language and text and numerical policy data. E.g. for Universal Life insurance policies, I will need the Illustration documents which includes your projected annual Rate of Return on your invested cash value, the main contract body including the Cost of Insurance (COI) charts, and the Riders.

Please scan each page of your document and save it as a JPG file in 100dpi format. If your document is faint or blurry, please save it as a JPG file in 200dpi or 300dpi format. Please choose the lowest resolution format you need to allow us to clearly read your document.

You can upload your product here as a review and/or in the comments section of the post at:

www dot finance-guy dot net/streetonomic/world-financial-group-review

If you bought a Universal Life (UL) policy such as Transamerica’s FFIUL, I also encourage you to contact one or more of these law firms and attorneys who are exploring or launched class-action suits against carriers and broker-dealers of UL policies:

Lieff, Crabraser, Heimann & Bernstein: (800) 541-****

Zamansky LLC: (212) 742-****

Gerald Sinclair Flanagan: (310) 392-****

Travis Murray Corby: (310) 246-****

William Martin Shernoff: (909) 621-****

Thank you for your interest and participation.

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Cons:
  • Concerns about wfg products
Reason of review:
Concerns about WFG products
6 comments
Guest

Wow, attempting to steal our clients! That's pathetic.

We are all licensed agents at WFG-- which means we all have fiduciary responsibility.

We submit these policies and they are reviewed by the insurance underwriting and legal departments.

We may be commission based but have you discussed how YOU get paid?

I'm going to take a sure bet that if you MOVE our client's product into a product of your own, you get a cut.

So stop trying to make us look like we don't know what we're doing when we do.

Azel Gth
reply icon Replying to comment of Guest-1188147

WFG agent from Phoenix, your fiduciaries are -you- and WFG, not your client. Nowhere in your Associate Membership Agreement does it say you must serve as your client's fiduciary.

That's why the person who plans to purchase your products is very strongly advised to first seek out his own fiduciary to review his candidate products in full.

I work as a fee-only financial advisor. I don’t sell insurance policies or other financial products. I know people who've been badly burned buying products through WFG.

Specifically the Financial Foundation Indexed Universal Life (FFIUL) policy from Transamerica. The FFIUL policies I’ve seen are so expensive and extraordinarily risky, this prompted me to offer my limited pro bono service to help customers protect themselves from abuse by unscrupulous salespeople. Both I and the person I help remain unknown to each other. But many people will benefit from my analysis of these financial products.

WFG agent from Phoenix, even -you- can submit your instruments for my evaluation if you wish. Did you buy the FFIUL and/or a Variable Annuity?

It’s quite possible you won’t like what I find in them. But it’s better you learn it now than later.

Guest
reply icon Replying to comment of Guest-1188147

I agree with EndMLMAbuse's comment and that he speaks the truth. I was part of WFG like you and nowhere in WFG's agreement does it state that the agent must act as a fiduciary or even notify you that you must.

People have the right to not trust you because even your own company doesn't state that you must clearly act in the client's best interest. Plus are you denying people's rights to seek out other financial advice from others? Is it wrong to seek a second opinion? Should people just trust whatever comes out your mouth without question?

They have the right to seek second opinions, free or paid (especially fee-only).

The fact you're claiming EndMLMAbuse is "stealing clients" when they are merely giving FREE basic advice (in terms what they are asking on this site) in exchange for anonymous source material to show proof products such as FFIULs can be bad is a red flag on your part. If it is such a good product, the numbers would prove it with just a mere calculator. Do not your illustration model since it doesn't account for rising fees such as COI in late life.

There's no reason to fight against them if this product is what it claims or you should be able to prove it yourself with said method above. If you can objectively calculate those numbers for what they are (not manipulating them to make them give different results), then those numbers cannot lie. Additionally, in no way does it seem like EndMLMAbuse is trying to profit off this or doing this in ill will. When you say, "We may be commission based but have you discussed how YOU get paid?

I'm going to take a sure bet that if you MOVE our client's product into a product of your own, you get a cut," it's irrelevant to what they are asking on this site. Again EndMLMAbuse is willing to give FREE basic advice in exchange for anonymous source material, not for money on their end. Don't make irrelevant questions/statements like that cause it doesn't apply here. If they say something like "For a small fee, I will assess your FFIUL plan," then maybe you can make the claim that they're stealing clients/business, but again it is not the case here on this site.

Like I said, people deserve the right to seek a second opinion anyway on their personal financial matters and they are strongly advised to.

Finally, you say you know what you're doing but you have yet to show that. All you state are just claims and no detail and no facts with resources. Can't you go into detail as to why WFG is that great and/or the product? Be the one WFGer that actually proves something than being a sheep and spewing out whatever WFG and your upline wants you to believe.

When reviews on this site have more basis and substance than your own statement, then you have a problem. If you question the claims I make, please read the reviews on this site as well as dissenters such as on *www dot finance-guy dot net/streetonomic/world-financial-group-review.* And when you state sentences like "Wow, attempting to steal our clients! That's pathetic...So stop trying to make us look like we don't know what we're doing when we do", you make yourself look like an unprofessional child in all honesty. By the way when I quote that sentence above, I mean every word in between too makes you look unprofessional (it's to keep it neater and to the point).

I'm telling to you straight that you make WFG look even worse with that type of statement and tone. I'm trying to not be intentionally condescending (and I admittedly am probably failing at it) or inflammatory, but I would expect much more proper professionalism from a representative of WFG.

How can I respect you as a financial professional and just as a person when this is how you portray yourself? Your behavior is one of the reasons why former WFGers and clients dislike WFG so much.

Guest

That is fantastic...thanks for your service and hope people take advantage of it!!

You cannot trust WFG agents paid on COMMISSION to not be bias and selling you the wrong product..thanks again for doing this service!!

Azel Gth
reply icon Replying to comment of Guest-1187704

Good morning John, you’re very welcome. It’s good for everyone to see exactly what we’re talking about. Daylight is the best disinfectant.

Prudencio Zlt
reply icon Replying to comment of Guest-1187704

Mornin John! Listening to Hillary’s VP pick speaking on the radio right now.

Anyway, turns out our Corona friend over at Finance Guy wasn't hard at all to ID.

Makes me wonder why he worked so hard to stay anon? Well when you get a moment, wander over there and check out my today's latest to him (and you too) --William

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Janesa Cva
map-marker York, Pennsylvania

No answered

I need 1099 of 2018 in a hurry. I was an associate before. Please e-mail it for me ASAP. My Agent ID is 45PRO. My email address is melgorge@***.com I have Fedex Account number 88090**** Mail address is 4 Dunbar Drive, West Windsor, NJ 08550 Or 968 Robbinsvville-Edinburg Rd, Robbinsville, NJ 08691 I am leaving USA by Mar 24. I really need it for my tax of 2019
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Naomie Azk
map-marker Bethany, Oklahoma

E&Os and appointment with Transamerica.

I don’t think this is the number I need to call you. I need hel but I’m not a pissed consumer.
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Anonymous
map-marker Lake Worth, Florida

Review in Financial Services category

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Wasted money and time with this company (lol "company"). They suck you in by forcing your good friends to "see what im doing and if you think its a good idea".

They separate the new people from the well dressed but all completely broke (other than 5 out of every 10,000 "agents". Hold on let me do their little (***) rah-rah.....whoooooOOOOOOAAAAA WOOSH, BOOM, TAMPA (broke as ***). Dont waste your time. Not only is there no hourly pay, you have to give your firsr TEN SALES to you "trainer" what a crock of crooks.

Then they want you to pay 100.00 to get....hired? Its a scam. The main guy drives a Mazarati...the rest drive 10+ year old cars. If you arent in their click and sound like a used car salesman.

They taje your 100.00 and run. If you actuallt sell something (a miracle in itself) you have to split your 20% commission with your trainer.....oh the useless trainer. They will say anything to get you to join.

Dont make my mistake. Scale of 1 to 10 i give it a ZERO

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Reason of review:
Work Experience or Job Application
5 comments
Guest

I hate the attire the people there wear. Especially the green jackets who look like a bunch of *** Christmas trees. Those rings they wear for bringing in a specific amount of cash flow are obviously fake too.

Guest

What happened to Herbalife could be in WFG's future.

The Federal Trade Commission has determined that Herbalife is not a pyramid scheme, but the nutritional supplement marketer will still be required to pay $200 million to consumers and "fully restructure" its "unfair" business in a comprehensive settlement, the FTC confirmed Friday.

The settlement comes after a two-year investigation by the FTC, which has probed Herbalife over accusations that the company focuses on recruiting more sales people instead of selling its products.

The multi-level marketing company "deceived consumers into believing they could earn substantial money selling diet, nutritional supplement, and personal care products," the FTC said.

The $200 million payment will include compensation for certain consumers who purchased Herbalife products, but details of that payment structure will be determined later.

Herbalife was not particularly contrite. "While the company believes that many of the allegations made by the FTC are factually incorrect, the company believes settlement is in its best interest because the financial cost and distraction of protracted litigation would have been significant, and after more than two years of cooperating with the FTC's investigation, the company simply wanted to move forward," Herbalife said in a statement.

Herbalife executives had told investors in a conference call in May that they were close to a deal with the FTC that would cost an estimated $200 million. The settlement marks a significant loss for hedge fund investor Bill Ackman, who publicly accused Herbalife of being a pyramid scheme. The Pershing chief Square Capital Management invested $1 billion in a short bet against Herbalife's shares in 2012 when they traded around $47. Herbalife stock (HLF) rose 6.6% in pre-market trading Friday to $63.25.

Still, the FTC blasted Herbalife for exaggerating the earnings most of its sellers reap and said Herbalife agreed to pay for an independent auditor to monitor its business practices. "Herbalife is going to have to start operating legitimately, making only truthful claims about how much money its members are likely to make, and it will have to compensate consumers for the losses they have suffered as a result of what we charge are unfair and deceptive practices," FTC Chairwoman Edith Ramirez said in a statement.

Only a "small minority" of distributors make "a lot of money" on Herbalife sales, the FTC said, and most abandon the business within the year. Owners of Herbalife's Nutrition Club brand invested an average of $8,500 to launch their operation, but 57% broke even or lost money, according to an internal survey revealed by the FTC.

Guest

I just wonder why the government authority is not investigating into this kind of business scheme. People complained all about this company but there's no ACTION being taken to stop this.

Guest

Sorry you wasted your time anon, you're not the only person to waste time on this ludicrous company. It's essentially all lies. Shame those sheep continue to be part of WFG

Guest

If I had a friend who suggested I join this nonsense, that would promptly end that friendship!

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Anonymous

A story about how people at WFG are a bunch of snakes

I remember a couple months ago when I was going to a BPM, a guy in a suit approached me as I was walking down the street and asked me " Are you here for the consulting position?". Then to myself I'm thinking wow this guy is getting deceived like crazy.

I told him I was a member of the company, but my brainwashed self didn't just tell the poor guy to just leave and not waste his time here. He was telling me how some girl named Michelle(who is an *** , contacted him to come for an interview. He told me that he drove all the way from Palmdale to come to the West LA office!! I felt really bad for the guy because he sounded like he needed a job really bad.

This is not an interview for a job position, this is some boring seminar talking about how WFG is supposedly the "Costco of Financial Services". The funny thing is the SMD's look down on people with actual jobs and careers. They say that people with jobs are limited and they even have an acronym for the word job. The say the word JOB stands for "Journey of the Broke".

Who the *** do they think they are saying *** like this? Then they have the nerve to make this false advertisement for a job position when it is basically you paying an "administrative fee" to be an "independent contractor" that is bossed around by a trainer. What a bunch of hypocrites!

I regret not telling that guy that day to turn around and leave.Thank god I left this *** "company" ! I feel so liberated!

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Reason of review:
Poor customer service
4 comments
Guest

What is so astounding and I know of these tactics as some family members are involved since 2013 is that they talk about a J O B ...like it's a bad thing..all about the brainwashing because as soon as they are out the door from the WFG meetings guess who buys those IUL'S and FFIUL'S ...you guessed it,the family and friends with a J O B...so the WFG agents and recruits can have a COMMISSION like it's such a great thing..A commission is just a fancy word to say....I don't know how much I will make working my butt off this week...and the official numbers for WFG for 2015 show us that the average wfg business owner(99.5% of them)....makes 2300$/year in commission....lol....At that salary I make more cleaning the ditches of empty beer cans and I don't have to go to weekly meetings and rah rah ola las vegas yearly brainwashing seminars which cuts into this enormous 2k earning opportunity!

Prudencio Zlt
reply icon Replying to comment of Guest-1185627

John, hahah even worse, the newbies *borrow* the bread from their "J.O.B.-slave" friends and family (when they fail to sell them the FFIUL). I've seen that happen more than a few times.

"I'm going to show you how to quit yer J.O.B., start yer own biz and become rich! But first can I borrow $500?"

Guest
reply icon Replying to comment of Prudencio Zlt

You got it William...so sad.And some of them are doing side jobs now even thow they have a few layers of newbies under them..Now 3 years in the 4-5 year plan where they will be retiring I guess very rich? What I see is a 64k home and cars that are getting older..no signs of riches,rainbows or unicorns coming in the next 18 months IMO..but hey I only have a J O B so I will stay poor even thow I make more and have more value than they do if I want to compare..but it's so easy to spew magical nice numbers isn't it and let's face it they will still be working for WFG in ten years on COMMISSION with the highlight of there face book page and life about the brainwashing yearly meetings and meaningless posts from WFG on their profile on face book because they oh so care about our future...lol..no you care about getting your family and friends $$$...that's it...

if they really cared you wouldn't harass them about buying products and you would give them financial advise WITHOUT charging COMMISSION if you really cared IMO as I don't charge to help my mom,dad,uncle or my nephew with the small jobs around the house or giving opinions on my area of expertise right?!?! All optics folks...caring is showed and you don't need $$$!

Guest

It is liberating to be away from a sad company like WFG. Hopefully you and the guy are better off.

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Anonymous

This could be WFG's future if they are not careful.

What happened to Herbalife could be in WFG's future.

The Federal Trade Commission has determined that Herbalife is not a pyramid scheme, but the nutritional supplement marketer will still be required to pay $200 million to consumers and "fully restructure" its "unfair" business in a comprehensive settlement, the FTC confirmed Friday.

The settlement comes after a two-year investigation by the FTC, which has probed Herbalife over accusations that the company focuses on recruiting more sales people instead of selling its products.

The multi-level marketing company "deceived consumers into believing they could earn substantial money selling diet, nutritional supplement, and personal care products," the FTC said.

The $200 million payment will include compensation for certain consumers who purchased Herbalife products, but details of that payment structure will be determined later.

Herbalife was not particularly contrite.

"While the company believes that many of the allegations made by the FTC are factually incorrect, the company believes settlement is in its best interest because the financial cost and distraction of protracted litigation would have been significant, and after more than two years of cooperating with the FTC's investigation, the company simply wanted to move forward," Herbalife said in a statement.

Herbalife executives had told investors in a conference call in May that they were close to a deal with the FTC that would cost an estimated $200 million.

The settlement marks a significant loss for hedge fund investor Bill Ackman, who publicly accused Herbalife of being a pyramid scheme. The Pershing chief Square Capital Management invested $1 billion in a short bet against Herbalife's shares in 2012 when they traded around $47.

Herbalife stock (HLF) rose 6.6% in pre-market trading Friday to $63.25.

Still, the FTC blasted Herbalife for exaggerating the earnings most of its sellers reap and said Herbalife agreed to pay for an independent auditor to monitor its business practices.

"Herbalife is going to have to start operating legitimately, making only truthful claims about how much money its members are likely to make, and it will have to compensate consumers for the losses they have suffered as a result of what we charge are unfair and deceptive practices," FTC Chairwoman Edith Ramirez said in a statement.

Only a "small minority" of distributors make "a lot of money" on Herbalife sales, the FTC said, and most abandon the business within the year.

Owners of Herbalife's Nutrition Club brand invested an average of $8,500 to launch their operation, but 57% broke even or lost money, according to an internal survey revealed by the FTC.

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3 comments
Guest

It isn't 'could be' but 'would be' for WFG's case, especially since people are starting to realize its shady methods and opening their eyes. I doubt WFG would change their methods anytime soon though.

They'd just find other ways to rebrand itself while keeping it's shady ways. Hopefully it does happen to WFG so then those who wasted their time and lost money (whether they be a former agent or client) can get proper justice. Good post though and hopefully the WFG sympathizers can finally get their heads out of the wrong places and see the **** company for what it is.

Some of those agents honestly need to be punished for bringing people in and tricking them into thinking FFIULs are any sort of good investment and/or that WFG is some amazing "job". I hope the WFGers that stick to this sad company still have some speck of soul left in them to leave while they can.

Prudencio Zlt
reply icon Replying to comment of Guest-1185747

Anon, I agree with you, people are starting to open their eyes to the sham and scam that is WFG. But s-l-o-w-l-y.

We have to be patient. My experience here on the west coast, very many of the WFGers are recent working-class immigrants from Asia. For them, relationships are all-important. These new and naive recruits are much more likely to listen to whatever their uplines tell them than take to heart anything they may read here or in the press.

I do one-on-ones with recovering WFGers and those who consider to leave WFG--most often Asians, especially Chinese. Even when you show them the facts and numbers that *WFG and Transamerica themselves provide,* these deluded souls often still prefer to believe their uplines--also mostly Asian, especially Chinese. Poor English skills often worsens things--they usually can’t fully grasp the full problem.

I hope we’ll see more outreach in their native languages, especially in Mandarin, Cantonese, and Vietnamese. But still it’ll take a while to get through their deep acculturation, especially their reliance on “guanxi,” (关系) the system of social networks and influential relationships that for them are often the most important part of business.

Guest
reply icon Replying to comment of Prudencio Zlt

I understand, I come from the south coast so our demographic is generally made up of hispanics, blacks, and asians. While like your WFGers, many are working-class immigrants but many of them are also native and from poor backgrounds.

Some rely on relationship, but for the main part they are concerned about making money. It's very difficult to prove the numbers to them that they are in fact making dangerous investments for themselves and for others. They won't even accept that their illustration model fails to account for any costs/fees.

Then when all arguments fail for them, they go to their upline to confirm their own bias. Sad really since I think they're generally good but very misguided people.

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Francisco V Nsm
map-marker Fort Worth, Texas

Dishonest and unethical practices

To whom it may concern,

My name Francisco Villalobos former agent id with WFG 26ZYW. I received an email from you, not an official letter, informing me that according to your records I did not hold an active insurance license, an active insurance provider appointment and have an outstanding debt of $2106 and needed to be settle by March 31 otherwise would result termination from World Financial Group.

First of all, I have held an active license for the last 12 years and I have never lapsed or canceled and I have been appointed with several insurance companies through other agencies, I have been doing business with other FMO's. I informed my up line Shirley King 14ASF more than 2 years a go that other FMO offered me a higher commission rate and that I was leaving and was not going to write any more business with WFG, she acknowledged and that was the end of it. I called her and asked her about this letter and amount charged to me and she said that corporate WFG was responsible for it. She asked me to write and explain that I was inactive and unaware of the conditions outlined in the letter. I was not notified by mail nor email of any conditions such a minimum production of $2000 which I did not sign these terms in my agreement, I was not notified about any requirements whatsoever and I was charged this amount without any explanation. I tried to get appointed with Equitrust and they notified me that you had reported a vector to the corresponding authority. A vector is a charge back from a commission not an internal policy that was added to me by a policy that I was not aware nor notified by anybody, you just added to me without further investigation nor communication by your company. I do not wish to reactivate my insurance licenses and appointments with WFG and I do not wish to position myself to meet the $2,000 minimum production requirement because I don't want to represent WFG at all. Please furnish a signed copy of this Associate Membership Agreement where I agreed to these conditions.

You are hurting my livelihood by reporting something that was unethically added to me without me being notified except by one email letting me know that I needed to settle an amount owed to the company. Please I need you to remove this bogus charge and a letter that indicates that the charge has been removed from my record. I write insurance for a living and WFG has viciously hindered my career. I am writing you so you can fix this and clean my record as I was not aware of these conditions nor there is an agreement where I signed.

I would like to fix this in a friendly matter. I know my rights as an agent and I will do what it takes to clean my honorable record and if necessary, I will write the insurance commission submitting a formal complaint and get the media involved so they can do a further investigation.

Thank you for your assistance on this matter, I am sure that we can work something out for the best.

Respectfully,

Francisco Villalobos

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1 comment
Guest

I feel your pain. They are sharks and unethical as can be. The can’t be reached by phone but they sure know how to seems condescending emails .

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