World Financial Group Reviews

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World Financial Group - Read This to Learn How WFGers RIP YOU OFF!
World Financial Group - Read This to Learn How WFGers RIP YOU OFF!
In his “review” last week San Diego Anon oozes about “...a beautiful lifelong career…” It’s “beautiful” all right. IF you love to recruit everybody in sight and personally break pyramid scheme laws, exposing you to prosecution. IF you love to cheat folks them by...
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32 comments
#1895425

Nonsense

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ID
#903014 Review #903014 is a subjective opinion of poster.
Location
Berkeley, California
Cons
  • Inferior and harmful products
Reason of review
Bad quality
New Reviewer
World Financial Group - Big Class-Action Lawsuit against Transamerica’s FFIUL? Can You Join?
Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy is WFG’s top life insurance product. It’s the fat-commission policy my upline always pushed me to sell. I worked for WFG and sold many of these FFIUL policies before I learned how little we...
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101 comments
#1783102
Financial Expert

According to the World Financial Group reviews on PissedConsumer.com, the company currently has 2.1 out of 5 stars. The rating presented here is based on the feedback offered by customers in 136 different World Financial Group reviews.

The PissedConsumer statistics also indicate that a majority of reviews are 1-star (87 out of 136 reviews) and 5-star (31 out of 1365 reviews). Customers are not satisfied with a pyramid scheme, dishonesty and lack of product training for new trainees. However, customers like good mentorship and knowledge of the product. You may find more information about the World Financial Group in the 'Top World Financial Group Question: Is WFG a Scam?' article.

You may send your comments regarding the World Financial Group staff and services to the company headquarters: World Financial Group 11315 Johns Creek Parkway, Johns Creek, Georgia 30097-**** United States.

You may also share your experience with World Financial Group customers as well as the company top management by posting your comments via the company social networks.

All contact information is available on the World Financial Group Contacts tab on the Pissed Consumer website.

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ID
#892272 Review #892272 is a subjective opinion of poster.
Location
Berkeley, California
Cons
  • Few guarantees
  • Many risks
  • Expensive
Reason of review
Bad quality
Loss
$5000
New Reviewer
World Financial Group - Gotta Feel SORRY for WFG Agents
World Financial Group - Gotta Feel SORRY for WFG Agents
WFG agents trick and cheat you. Then they recruit you and teach you how to trick and cheat other people. Seriously guys. Thats how it goes there. Why do I feel sorry for WFG agents? Most of these guys and gals dont know it, but they seriously need HELP. By the time...
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50 comments
#1745946

It’s sad that you were left to feel this way. You have to follow your own path.

Not every office is the same. Not every person is the same. But it seems like you initially joined for a reason. Would you let on person stand in the way of your goals and dreams?

If Plan A does not work, try Plan B. No matter what the product is, it has a purpose and a need. My trainer can testify to this. He just got diagnosed with cancer.

He is getting 90% of his TransAmerica policy cash in hand due to living benefits. Another gentleman I know had a stroke. He got cash in hand last New Years. Maybe you needed more time.

Maybe you needed to get the people around you to pump their breaks and not be as aggressive to allow you to do things in your own timing. People are a part of the company. People fail. But the company doesn’t equal the people.

You can’t control people. As a formal medical examiner for the insurance company, I have gone to homes and seen the devastation of people whose spouse has died and now they are left with one income. I have seen elderly people who can’t afford care for lack of Long Term Care. This is a very real mission and a very real company.

Maybe your why was not really about helping families so you don’t get it. But to see people on the company be able to leave a back breaking job and become financially free is nothing to be angry about.

Direct marketing is here to stay. From Tupperware, Pampered Chef, to Lingerie parties to Herbalife and WFG, direct sales are the way for people to get paid based solely on their efforts.

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ID
#890422 Review #890422 is a subjective opinion of poster.
Location
Atlanta, Georgia
Cons
  • Untrained agents
  • Cult-like
  • Misleading sales tactics
Reason of review
Bad quality
New Reviewer
Hello site visitors. I can guess you probably came here for many different reasons. Most come here to look up reviews on WFG and whether they should join it or not, or if they or a family member have been hoodwinked and would like information on what to do as well as...
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1 comment
#1190001

Although not a necessary addition to my review, I would like to encourage those who have been negatively affected by WFG to file a Federal Trade Commission (FTC) complaint. The link is listed in my review under "***Below are the Federal Trade Commission links***".

I believe not enough people realize that they have the power to complain directly to the government or feel that their stories are meaningless. It is not, and I have felt the same way. If you are not sure on filing an FTC claim, perhaps I can give you some positives. When you file a complaint, you have the choice of privacy.

This means you can choose what information they receive on your complaint. You can file anonymously, or provide contact info in which the FTC states they may use in order to contact you about your complaint. You can also state specific locations of company branches. If you believe you can't take on a whole company, you can still file against the company branch that affected you by properly listing the location and contact information.

Like on these review sites, you can tell them your story and experience with WFG. Not only that, you are submitting complaints DIRECTLY to the FTC. The more complaints the FTC receives, the more likely they are to take action. BUT please do remember to not troll and abuse the service the FTC provides.

Please provide legitimate information and accounts when you file complaints to the FTC. You may feel that your voice is not heard, but you can make it heard.

ID
#888424 Review #888424 is a subjective opinion of poster.
Location
Houston, Texas
Cons
  • Agents often have little to no credentials
  • Cult-like environment
  • Unable to answer technical questions
New Reviewer
World Financial Group - My God! People, Run - FLEE, FAST AS YOU CAN - From This Nightmare!!!
Not trying to kill your dreams here. I’m trying to -save- you, your families, your friendships, and your money from this endless soul-sucking NIGHTMARE. I worked full-time for WFG in NYC for two years. I burned through through tons of savings chasing the “dream.”...
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6 comments
#1189316

Dear 中国人民:

You can find China's 2005 law that bans Multilevel Marketing (MLM) companies at:

www dot gov dot cn/zwgk/2005-09/03/content_28808.htm

It's titled: 《禁止传销条例》已经2005年8月10日国务院第101次常务会议通过,现予公布,自2005年11月1日起施行。

Obviously this law doesn’t apply to companies here in the US. But it shows you that the world’s second largest economic power in the world outright *bans* MLMs.

That highlights how serious MLM problems are. WFG clearly shows us it routinely abuses clients, recruits, and downlines we too often see in other MLMs.

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ID
#887807 Review #887807 is a subjective opinion of poster.
Location
New York, New York
Cons
  • Way too expensive and risky
  • Pushes agents to break laws
Reason of review
Bad quality
World Financial Group - Review in Financial Services category from Sacramento, California
Hey it's me Liquid. I was given this in response to my "You are a pyramid" accusation. They claimed that "Why would Nationwide slap their name with World Financial Group if they're a pyramid? Here's a video of Peyton Manning endorsing WFG through Nationwide and here's...
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18 comments
#1605391

Richard Nixon used to endorse respectable Republican cloth coats. Does that make him believable ?

I don't know about some old football player, either. I don't care who gets hired for endorsements - they are being PAID - I don't know you or your controversy but your choice of spokesmen means NOTHING to me and probably a few others.

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ID
#884559 Review #884559 is a subjective opinion of poster.
Location
Sacramento, California
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...
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4 comments
#1554528

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.

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ID
#884550 Review #884550 is a subjective opinion of poster.
Location
Sacramento, California
New Reviewer
Good day good people. Only -three days ago- the FTC posted fresh guidelines to help you decide if a multilevel marketing (MLM) company such as WFG--or at least how its contractor recruiter/agents typically behave--constitute a PYRAMID SCHEME: Www dot ftc dot...
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3 comments
#1186784

Their business model requires each new recruit to bring in 3 new recruits and those 3 people each need 3 people. The training you will receive is mostly recruiting with a little basic financial thrown in. Only the few less than 1% at the top are making the money they like to showcase.

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ID
#883984 Review #883984 is a subjective opinion of poster.
Location
Toronto, Ontario
Cons
  • Cult-like environment
  • Deceptive practices
Reason of review
Bad quality
Junior Reviewer
...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....
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4 comments
#1186214

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.

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ID
#883555 Review #883555 is a subjective opinion of poster.
Location
San Jose, California
Cons
  • High risk
  • Cult-like environment
  • Pricey
Reason of review
Bad quality
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...
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5 comments
#1186493

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.

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ID
#882174 Review #882174 is a subjective opinion of poster.
Location
Lake Worth, Florida
Reason of review
Work Experience or Job Application
New Reviewer
Why do you almost NEVER give us your names or contact info? Why do you almost NEVER try to defend World Financial Group and its products WITH FACTS AND NUMBERS? Why do you almost NEVER try to defend WFG and its products with clear REASONS? Instead you blather happy...
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7 comments
#1188127

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

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

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

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

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

same as a 401k only less fees.

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

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

TermLB is cool.

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

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

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

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

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ID
#881743 Review #881743 is a subjective opinion of poster.
Location
Glendora, California
Cons
  • Misleading sales tactics
  • Dishonesty
  • Pushes agents to break laws
Reason of review
Bad quality
Sophia Xu, who is the subject of a June 25, 2015 post on this website, is on a mission to help families with her global indexed universal life policy. She mentions that the indices have gained an average return of 9.28% over the last 28 years, and claims that there are...
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7 comments
#1181460

Thanks very much for your post Anon. I agree with you, many WFG agents are shockingly ignorant about the products they sell.

9.28% average annual rate over the long term is pure fantasy. You’re lucky to get 5%--more likely somewhere between 2% and 5% annual return. The S&P 500’s historical return--from 1871--is only 5.75%. Most actively managed funds fall far short of that.

To see the evidence and discussions on the above, please search on: “The Charts Wall Street Doesn't Want You To See On Annual Returns businessinsider” and go here: Whitecoatinvestor dot com/an-index-universal-life-insurance-illustration/

And you know what? It doesn’t even *matter* how the various market indexes perform. IUL carriers put “indexed” in the name (IUL = Indexed Universal Life) but “Indexed” is a meaningless descriptor. You’ll find in your IUL policy’s small print that they *do not have to mirror the indexes.* Bottom line, they guarantee only the *minimum return* stated in the policy.

For example, Transamerica’s Financial Foundation IUL (FFIUL), WFG USA’s flagship policy. That’s the one that WFG uplines push their downlines hardest to sell because it pays the fattest commissions to the agents. The policies I’ve dealt with typically offer a guarantee of only a **2%** annual return or less--even as low as 0.5%. That’s the grim reality folks.

Please don’t take my word for all this. Ask Sophia Xu or any other WFG agent to actually let you read the policy text. A reasonable request right? Yet chances are great won’t let you NEAR it till you buy the policy.

Just to let you actually study what it is you’re buying, WFGers force you to pony up hundreds of dollars and then make you fight with WFG to terminate it and get your money back during the Look Period (10--30 days from purchase). Why do WFGers conceal this from you? After all, other insurance agencies, like AAA, send you the full quote for you to read to your satisfaction before you sign. Why won’t WFG agents let you do the same?

You soon learn why it’s obvious WFG agents hide the contract language from you. The FFIUL is an exceptionally expensive and risky instrument. It's a remarkably bad deal for nearly all policy purchasers. The FFIUL text makes very clear they do not mirror the indexes.

Here are the exact words out of an early 2016 WFG-issued policy, a 25+ page policy. Right on the policy title page you read this:

“While policy values MAY BE affected by an external index or indexes, the policy *does not directly participate in any stock or equity investment*…” And this on page 5: “An account option…will be based IN PART on changes in the values of published indexes…we may discontinue existing Index Accounts or make other Index Accounts available in the future…” Folks, “In part?” What does that mean? 80%? 50%?

Five percent? 0.1%? You can see the notion that these policies must follow any of the market indexes is *pure fiction.* And that's far from the worst of it--at least in the FFIUL policies I've dealt with. Skyrocketing late-life Cost of Insurance (COI) charges *will* force you to give up the FFIUL if you live a reasonably long life.

It’s as simple and dreadful as that. The FFIUL is not a “permanent” life policy as much as it is an auto-renewing 1-year term life policy. It’s “permanent” only until you can no longer afford to pay the astronomical late-life charges--which will be true for most people. You’ll could dump hundreds of thousands of dollars into your FFIUL over a lifetime and be forced to give it up and you and your heirs LOSE EVERYTHING by the time you reach your late 70s/early 80s.

Trouble is, many dreadfully low-info WFG agents also get suckered into the same products. They don’t WANT to hear they’ve been played. My upline is an excellent case in point. He’s a normally lovely and gentle human being who became hysterical and verbally abusive when I showed him the math for Transamerica’s FFIUL.

Totally out of character, he very nastily ended our contact. He doesn’t want to hear that the FFIUL is a terrible investment for nearly every human being unless you plan to die young from causes the authorities can't rule as suicide. The WFG agents that wise up to the disaster that is the FFIUL quietly bail out of it when they get past the commission chargeback period (1 to 2 years) so as not to upset their uplines. When you figure a typical ~$400/month premium for up to 24 months, that comes to $9,600--a big chunk of your true “cost of doing WFG biz.” For that FFIUL math, please see the 25 May review here called “Plan to live a long life?

Will your FFIUL--WFG’s “top” product--FAIL and leave you with NOTHING? I show you the MATH.

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ID
#876909 Review #876909 is a subjective opinion of poster.
Service
World Financial Group Customer Care
Reason of review
Poor customer service
Dishonest, no product knowledge, no work ethics at all, and almost all of them are doing this part-time. All they do is pitches. Doesn't everyone live different lives? So how do they come up with one product fits all?! They've gotten my friends to switch from other...
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ID
#854255 Review #854255 is a subjective opinion of poster.
Location
Daly City, California
Service
World Financial Group Customer Care
Reason of review
Poor customer service
I have now been approached 3 times, each time by someone who I went to high school with or was a friend of a friend. They ask you to go for coffee or a beer. About 5 minutes in to their chit chat, it hits you, you're being scammed. They start off subtly on their new...
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6 comments
#1305903

And your title bar offends me. How do you know all minorities don't have any financial training? You're a racist pig!

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ID
#845277 Review #845277 is a subjective opinion of poster.
Location
Winnipeg, Manitoba
Pros
  • When i left
Cons
  • Deceptive information
  • Home wreckers
  • Bad scammer
Reason of review
Not as described/ advertised
My dear friend invited me to what she called a training. When I got there, I had to go to a room with a director or higher position. I was under the impression that I was going to learn about WFG products, but it turned out to be a recruiting session. Later, I asked my...
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3 comments
#1154354

do not buy unless you fully understand it's benefits and risk.

By a CPA

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ID
#837956 Review #837956 is a subjective opinion of poster.
Location
Conyers, Georgia
Cons
  • Lack of product training for new trainees
  • Specific strategies of individual agents
  • Cult-like