Anonymous

Do not proceed

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Why doesn't anyone in corporate answer the phone? And their agents aren't any better, it's a wonder how these people get business! I.e. Brian Hernandez of Phoenix located at 10000 N. 31st Ave, Suite C316, PHOENIX, AZ 85051. Don't call him or join his team as he seems to have poor customer service skills.
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Reason of review:
Poor customer service

Preferred solution: Answer. The. Phone.

Anonymous
map-marker Edmonton, Alberta

Stay Away

Pushy, coercive and manipulative agents and associates, desperate to make you sign up quickly. Stay away from them. Refuse favors so there is no obligation to any of them. Be very firm.
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Daryl Gfi
map-marker Fort Mcmurray, Alberta

Stay away

No matter what they tell you no matter what they show you read and walk away stay with your bank they are the best bet for your future WFG is full of get rich quick and rope people in no matter the cost. They arr no better tgan car salesmen.
View full review
Cons:
  • Liers
Reason of review:
Return, Exchange or Cancellation Policy

Preferred solution: Full refund

Prudencio Zlt
map-marker Berkeley, California

Read This to Learn How WFGers RIP YOU OFF!

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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!  - Image 2

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 selling them spendy very high-risk products like Transamerica’s Financial Foundation Indexed Universal Life (FFIUL) policy--leaving you wide open to legal action. The FFIUL is a policy that, if you live a reasonably long life, is just about GUARANTEED to go belly up on you, causing you and your heirs to lose the Death Benefit and the $100,000s you dumped into it over your lifetime. For the depressing details on it, please see my 29 June review on the FFIUL.

How do WFGers get away with committing their de facto crimes? Go to “brokercheck dot finra dot org” and search on the names of some of this MLM’s higher flyers. You’ll find that only WFG’s most notorious actors have had many actions filed against them, and even then many are dismissed. For example, let’s look at EVC Guillermo Haro, a long-term WFG agent near the top of this MLM's pyramid(s). On the FINRA brokercheck site you find 13 actions against Haro going back to 1989--even before WFG existed. Click the down arrows to read the details of each action against Haro. Many include testimony from his customers who allege he sold them unsuitable insurance policies and securities and failed to fully explain them. Haro had at least four customers disputes filed against him before the SEC finally *permanently barred him* from acting as a broker or otherwise associating with firms that sell securities to the public.

Given Haro’s long rap sheet of alleged and proven wrongdoing, you’d think WFG would toss him out on his ear right? WRONG. Haro’s still very much part of WFG, still speaking at Momentum, WFG’s main yearly convention in Las Vegas. Haro’s still whipping up the adoring WFG crowds. Google “Haro 2016 Momentum” and go to 1:00 of the 5:22 vid clip that pops up. You see “Guillermo Haro Executive Vice Chairman” right on that stage at the MGM Grand.

To circle back to our question: How do WFGers get away with selling you exploitative and abusive insurance policies? Notably the FFIUL? For at least three reasons:

First, WFG agents sell lots of FFIULs to their recruits. During my time at this MLM, we were expected to recruit like crazy and push the FFIUL hard. Recruits are an ideal captive market. Many new agents, high on belief, low on facts, and dollar signs dancing in their eyes, tumble down like newborn puppies for this terrible policy. Over time many of them begin to learn the FFIUL’s true terrible nature. Alas, by that time their pride, and being trapped in the WFGers’ web, keep them from telling anyone they’ve been played, or even admitting it to themselves. My upline is a classic case in point. He’s a normally happy and gentle person who suddenly got spitting mad and lashed out at me when I showed him the math for Transamerica’s FFIUL. Totally out of his character, he very roughly ended our contact. He didn’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 adjusters can't rule a suicide. The WFG agents that wise up to the FFIUL quietly dump it when they pass the commission chargeback period (1 to 2 years) so they don’t trigger chargebacks and upset their uplines. When you figure a typical ~$400/month premium for the FFIUL for up to 24 months, that comes to as much as $9,600--a big chunk of your true “cost of doing biz” as a new WFG agent.

Second, Transamerica and WFG depend on the vast majority of their customers to drop their FFIULs. Research points to that. Search on “US Individual Life Insurance Persistency - Society of Actuaries” There at the www dot soa dot org site you’ll find this PDF: research-2007-****-us-ind-life-pers-report.pdf. Go to PDF page 51 to the page titled:

“U.S. Individual Life Insurance Persistency — Observation Years 2007–2009 - Universal Life”

In there, you find that for the lapse rates average 9% for the first policy year--meaning that for every 100 people that buy a UL policy, like the FFIUL, 9 people will drop it within 12 months. By Year 6, per-year lapse rates settle down to ~4.5% per year. Doing the math on SOA’s data, if you carry out xUL ownership for 30 years, *only 1 of 5 people* who bought the policy will still own it. Remember, that applies to the UL market as a whole, the original Universal Life (UL) policies and their Variable (VUL) and Indexed (IUL) variants as offered by all carriers, collectively called xUL. We can expect FFIUL lapse rates to be much *worse.* Why? WFG markets to low- and middle-income market, people who typically have little or no disposable income. The FFIUL is one of the first things they’ll drop to pay for more immediate needs, like rent, car repairs, their child’s college tuition, even for food. Worst of all, the FFIUL’s Cost of Insurance (COI) charges blast into the stratosphere as you age into late life, and the policy gives you no real No-Lapse guarantees. If you live a reasonably long time, your FFIUL is virtually GUARANTEED to fail, causing you and your heirs to lose the Death Benefit and the hundreds and thousands of dollars you fed into it. Bottom line folks: WFG and Transamerica have it nailed. They know they're safe. They know too few policyholders will remain in 20 or 30 years to file class-action suits against these two companies for selling these awful policies.

Finally, the US insurance industry is relatively lightly regulated at the federal level. The insurance companies want to keep it that way. Aegon and other insurance companies make such fat profits on their products, they can afford to pay lobbyists to keep the Feds at bay, to stay minimally involved, to leave regulation to the states. This is a divide-and-conquer approach that limits plaintiff pools and thus limits potential contingency payouts for class-action suits, and makes it harder for smaller and less funded state reg bodies to keep up with the rapid changes in the industry, This makes it easier for unethical providers to stay a step ahead of the regulators. As soon as the reg bodies catch up with one terrible product--e.g. the Variable Universal Life (VUL) policy, the industry's already created and flogging a new terrible product, e.g. the Indexed Universal Life (IUL) policy, like Transamerica's FFIUL. For more on regulation, please go here: www dot researchgate dot net/publication/22834****_An_Overview_of_the_Insurance_Industry_and_Its_Regulation

If you insist on checking out WFG-offered products, *do your homework.* Before you sign anything or give WFG a dime, make sure your agent gives you *complete* docs to take home and thoroughly read over. If you are looking at any policy, especially one like the FFIUL with as many moving parts as a Swiss watch, demand a FULL QUOTE *including all the contract terms and the Policy Data.* If it’s the FFIUL, demand your WFG agent show you the real math--using a *calculator* to *prove* your cash will cover your all your premiums in your later life. Absolutely do NOT rely on your agent’s illustration software program, which fails to show crucial policy data. Before you ask your agent for his calculator math, do your own math first. This way you can double-check your agent's figures. I show you how to do the math in my 29 June review on the FFIUL. If you’re not good with math or English-language contract language, hire a fee-ONLY (not merely fee-based) financial advisor to thoroughly examine your FULL quote. That’d be the best $50--$100 you ever spent, saving you untold thousands in wasted premium payments. A fee-only FA sells no financial and insurance products and so has minimal conflict of interest and can keep YOUR financial interests uppermost in his mind.

If you have to buy life insurance, buy Term Life from any one of many online sites, like termlife2go, that sell them. Term Life is vastly cheaper than “Perm” Life like xUL. You can invest your massive savings in an ultra-low-load S&P 500 ETF in a Roth IRA. You’ll come out *waay* ahead in the long term.

In sum, WFGers combine two bad worlds. The agents operate within a multilevel marketing (MLM) structure, a structure that’s shown us time and again its great potential to abuse customers and newer agents. WFG agents sell you inferior and even harmful products from the woefully under-regulated insurance industry.

Your best bet folks: Save yourselves a lot of time, money and heartache. Buy *nothing* from WFG. Avoid this deeply dishonest predatory outfit like the plague.

View full review
Cons:
  • Inferior and harmful products
Reason of review:
Bad quality
32 comments
Guest

Nonsense

Guest

This is absolutely wrong. I don't know if they did it before but now right now the products are top class.

Guest
reply icon Replying to comment of Guest-1786829

I believe you are misinformed and incorrect in some of your statements,

Guest
reply icon Replying to comment of Guest-1806927

Prudencio you are seriously misinformed and are taking SOMEONES reputation down more than we know, We are not entirely aware of all the details. In other words stop exaggerating and misinforming people.

You focused one one person out of 45, 000 in the company. He may have made some mistakes and perhaps may even be a Jerk. But to rthrow the ENTIRE company down with him is just a dishonest as you claim he is, I know this because I know the Company, I know Mr. Haro and I know over 100 WFG agents that are the Best in the Industry.

Good Luck in your Life. GV

Dimitry Fhi

Lol

Guest

This is completely inaccurate. I was part of WFG and the policies they have is great if the agent designed it properly.

I have their policy for 15 years now and I am getting returns much higher than promised. Please do more research on the agent and the product so you will get a well designed program.

Guest
reply icon Replying to comment of Guest-1704908

thank you

Guest

If you max fund from the get go everything you said is incorrect

Guest

I am not so well informed of WFG but got my FFIUL anyways from transamerica and have been very satisfied. I obtained my insurance sometime 2007 during that time was still western reserve then Became transamerica.

The cash I have invested into it actually grew. At one point, I was short of cash and needed additional emergency funds and managed to get some of my money from it. Now, they have a LTC rider that comes with the FFIUL. Nowadays, the cost of long term care is so grave as not every thing is covered by your health insurance.

Do you know how many people just got bankrupt Because of long term care? I’ve seen a lot as I work in the health field.

For me knowing I have this coverage gives me peace of mind coz I know I won’t let my family shoulder the finances or even just the mere thought of taking care of me if worse comes to worse. I am sorry you feel that way with WFG, but I cannot agree with you on this.

Guest

This is erroneous. Do you honestly think companies such as Fidelity, Voya or Nationwide would want to be associated to a company that scams people?

They have a reputation to uphold themselves. Companies do their homework.

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Zachary Wcr
map-marker San Francisco, California

License

I need someone too check too see if my agent code 13kkn is still active I got message from my upline that I may have too repay fee if $100 too get reienstated or sign agreeing I never received anything by email or mail from you can you resend it please too relaxunwind22@***.com My name is Gregeata McGill 408-834-****
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1 comment
WFG

Hello, Your status is currently still active. Thank you.

Mackie Itu

Unknown charged

Hello WFG team!! unknown charged from my credit account 2x at Dec 6 vs 7. Please I want to know the reason.
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Anonymous

WFG covers up for Sarula Larson who stole my money

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I started investments via WFG 2013 and 2014, but had to returned to home country in March 2015 - to care for my 96-year-old mom who has Alzheimer's Disease. In June 2016 I went back to Calgary, Canada and asked for some money pulled out.

I was given 2 funds from IA Clarington, and was told that was the only money left in my account. As I was back for only 2 weeks and did not have original papers with me, I got back those 2 funds. In Apr. 2019, I was back to claim tax and clarify problems with Canada Revenue Agency - to reset my account and was asked for fine of over $4500 which I don't have.

Going back to ask for the copies of my files so I can explain to CRA, my former team leader Sarula Larsen (Sart before 2015) told me she did not have anything on the file. In shock, I got onto to my CRA account, just to realize "Sarula has been moving my money since 2014 and hide my money away which explains why she did not want to give me back my files. I downloaded all the transactions done when I was not in Canada and could not sign the papers, and did not authorize anyone to buy or sell my funds. Printed out the copies of T-slips from transactions from Mar.

2015 to Apr. 2019 and asked those companies "not to allow Sarula to transact my money any more". Only two companies responded and one promised to block my account. I reported the cases of theft and forgery (fake signature) to WFG and MFDA in May 2019, which WFG told me "it will take 90 days to investigate".

But by August 2019, when WFG finally sent me 'reports of investigation', they did not seem to show any responsibility to ask Sarula to return my money. As I need money to care for my mom desperately, I could not afford to wait any longer. I hope the top management of WFG Canada can seek the justice for me and ask Sarula to return me about $ 120,000~130,000 that I invested to INvgesco, Manulife, IA Clarington and Equitable Life through her (I did not have licence to operate myself). Sarula has been million dollar sales since 2012, so she is very rich but the amount she stole from me is huge money for me (for mom and my own retirement).

I hope top management of WFG takes this matter seriously and remain doing business honestly.

Please give me back my money before you kill two lives soon. Beryl Kuo

View full review
Loss:
$125000
Reason of review:
Return, Exchange or Cancellation Policy

Preferred solution: Let the company propose a solution

2 comments
Guest

Not that the company is bad. its only a person had a special situation. Also WFG doesnt do investments it guides you towards the companies who are federally regulated.

Guest

Oh thank god I didn’t start I started then I regret starting it and I quit right away saw that you have to get 25 peoples name and then call them no thank you that doesn’t seem right . I read so many bad reviews I was like good you didn’t do it .

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Anonymous
map-marker Franklin, Tennessee

Trying to recruit unsuspecting Teenagers!!

A man approached my just turned 18 year old daughter, and gave her his card, she was reluctant to call, so she did not. He pursued calling her over the next several months until she finally agreed to meet with him...wow dangerous enough...He gives her this spill about not needing a college degree, which is another problem!

My daughter has been already registered for college and it is paid for the first year! Then he proceeds to tell her it is $100.00 for a background check I know for a fact you can get for anywhere between $14.95 and $29.95. Then it is another $200.00 for all kinds of training materials... I see scam already!!!!

Leave the teenagers alone go after adults if you wish!!! A very upset and concerned parent

View full review
Cons:
  • Asking teen for money saying no degree needed
  • Scam

Preferred solution: Leave my kid alone

5 comments
Guest

Ethan Vanderbilt's blog read

Guest

yet another wfg troll, invest in a solid education, work smarter not harder

Guest

Firstly I would like clear the air that all these statements made by people are all their opinions and personal experiences. Everyone has a right express their opinion but only because they failed or couldn’t succeed doesn’t mean others willing to take the challenge can’t.

Can you imagine that living in USA and Canada where laws and systems that if WFG was a scam they would still be in business? I doubt that. They are absolutely legitimate and all advisors are licensed by the state or province. Please do not let a few people who didn’t make

It bring your morale down.

All companies have good & bad people like every where in life, good people succeed under good leaders. Just to let you all know that there over 20,000+ reps with WFG who work under different offices with different leaderships. The challenges can be in the leadership and unethical people, we can’t generalize the whole company. It’s like saying I don’t want to shop at Walmart because it has the highest number of law suits, but why do people still go there?

They see value . WFG shows value through its independent product line up, some people see value and some Don’t. It’s okay but WFG is not a job it’s business opportunity and every office presents it differently. The purpose of this by this blogger is to prey on people who are curious and didn’t succeed in WFG to attract new visitors to his site so he can get more hits and he can get paid through advertisers and sell his brand or agenda.

This too is a way of business but think about it folks by discouraging someone ambition they build their future. My suggestion is don’t believe anyone and go for your self at your pace. Attend the trainings and get clarity. Vent your concerns to your trainers or office and seek honest answers.

The investment to learn this is a couple hundred dollars depending on state and province. If you don’t have this kind of money to spare to learn this business, then don’t go

But do not also discourager to someone else who wants to pursue it. Everything is transparent and why should you doubt it when the companies they represent have done their due diligence. I’m assuming they have more lawyers, compliance and legal teams.

Please go through http://www.researchwfg.com

And make up your mind as everyone’s journey is different. Don’t let anyone tell

You can’t achieve your dream

Only because they didn’t achieve theirs.

Guest
reply icon Replying to comment of Guest-1163485

never ever go to their so called information sites, go to Ethan Vanderbilt's blog. his passion is exposing all these scams that are preying the mis/uninformed, the poor, the desperate, the naive and hopeful. hope is what keeps people in abusive relationships

Prudencio Zlt
reply icon Replying to comment of Guest-1164240

Ezra, yup, yup, YUP! We should do our best to defend these vulnerable people from being victimized by these abusive and exploitative organizations.

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Anonymous
map-marker Conyers, Georgia

My Friend exhibits cult-like behavior since working for WFG.

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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 friend to show me how the IUL worked for my daughter. I asked her questions that she was not able to answer, so, instead of sitting down with me, she sent me a brochure, then called me to ask if I had any questions. Her next step was to get in front of my daughter.

She exhibits a cult-like behavior hyping the products, going off on a rant, but answering no questions while mimicking verbatim, the words I heard in the meeting. The numbers in the IUL did not add up in terms of providing a retirement income, long term care, and life insurance based on $300 a month.

For this cult-like behavior I might have lost a friend, but I still want to know how IUL works. Can anyone explain?

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Cons:
  • Fake sense of value
  • Lack of product training for new trainees
  • Cult-like
3 comments
Guest

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

By a CPA

Prudencio Zlt
reply icon Replying to comment of Guest-1154354

Right on Anon! Before you sign anything or give WFG a dime, make sure your agent gives you a FULL QUOTE on your FFIUL--*including all the contract terms and conditions*--to take home and read over.

Give all of it to your CPA or another qualified fee-ONLY (not just “fee-based”) Financial Advisor who does NOT sell insurance!

**OTHER INSURERS LIKE AAA GIVE YOU FULL POLICY QUOTES ON REQUEST. PLEASE DEMAND THE SAME FROM WFG!**

Make sure your agent gives you the *full quote* with *all the contract terms.* This includes your main FFIUL contract (~28 pages), Illustration (~16 pages), and any riders you bought such as Long-Term Care (~17 pages), and Accelerated Death Benefit (~5 pages). The two most important docs:

1) The three pages of six columns of numbers hidden away in the back of your main policy (typically pages 25, 25A, 25B) which includes maximums for your Cost of Insurance (COI) (aka Mortality Charges) for all ages through age 120.

These are titled “Guaranteed Maximum Monthly Cost of Insurance Rates” or something similar.

2) The average index account Rate of Return your agent illustrated for you, which you can find tucked away in the middle (usu around page 8) of your approx 16-page Illustration. WFG often uses a fantasy pie-in-the-sky rate of 8% or close to it.

Demand that your agent illustrate this at a REALISTIC average RofR of *5%*

You also need to give your CPA/FA the documented maximums for Premium Expense Charge, Policy Fee, Face Value (aka Death Benefit) Charge (per $1000), and Interest Account Charge, and the language that defines when your No-Lapse Period ends. If your WFG agents refuse to give you these *full quotes* with *ALL the contract terms* AND illustrated at *5%* RofR, TELL THEM TO TAKE A HIKE.

Prudencio Zlt

Hi Anon, about IULs. Short answer--you almost certainly want to avoid it.

Some top-rated carriers, especially the mutuals, don’t even offer IULs, and at least one of them never did offer it. The mix of guarantees, floors, and caps vary from one carrier to the next, and you need a skilled agent to choose one and configure it optimally for you. For these reasons among many, I’d avoid the FFIUL and WFG like the plague. The FFIUL offers especially weak guarantees and imposes especially high fees and Cost of Insurance (COI) charges, and many of the agents are either too untrained or too driven by high commissions to set it up properly for you, to keep your needs and financial realities uppermost in mind.

In any event, almost no-one older than ~25 should ever consider this type of policy, at least the FFIUL. If you are disciplined with your money, you are infinitely better off to buy term life insurance from a top-rated carrier and invest the rest in an ultra-low-fee ETF, like SPY (for the S&P 500) from Vanguard and put it in your Roth IRA. If you’re rich and already maxxed out your other tax-sheltered accounts, an IUL *may* represent a viable shelter. But you definitely need to talk to a skilled agent to explore that.

To answer your Q more deeply, IUL stands for “Indexed Universal Life” a Permanent Life policy that has a cash value. The “Indexed” part suggests that your cash will reflect a rate of return keyed *in part* to selected equities indexes--like the S&P 500 and Euro Stoxx--but within certain caps and floors. Because this is a permanent life policy you can technically keep this policy till the end of your days--IF you can keep paying the premiums on it. As you’ll see, that’s a huge IF.

Carriers first offered Universal Life policies in the late ‘70s and really took off in the '80s. ULs were supposed to be the answer to very expensive and low-return (typically ~ 2%) Whole Life policies, to be a “Perm policy for closer to a Term price” and with greater rates of return in the cash value part of it. ULs really took off in the ‘80s when interest rates went bonkers and UL sellers illustrated them at crazy high 12% rates, basing estimated “level” premiums off that highly aberrant rate. In the '80s agents promoted the fantasy that interest rates on bonds, savings accounts, etc.

would stay double-digit forever. Now lo and behold we’re in the longest period of near-zero rates ever. Now, 30 years later, these original ULs are blowing up big time, and we read lots of bad press about fixed-income retirees losing their policies because they can’t pay huge cash calls from carriers. We also see mounting class-action suits.

By the late ‘90s, the insurance industry started to anticipate the problems their first-gen ULs will cause, and so started offering IULs. “We’ll base them on the stock market indexes like the S&P 500, EuroStoxx, Hang Seng, etc” they said “ and then we'll go one better--we’ll put a floor on your losses! Even if an index is negative for the year, we’ll never go below zero!” What can go wrong, amirite?! These days of course agents flog the flip side of the financial fantasy: We'll see *equities* continue their torrid growth till the end of time and your IUL will ride that wave to heaven.

Of course the agents base this latest frothy notion on a “whopping” 25-year time frame (from early 1990s). You know. Because 25 years of the 400-year stock market history is SUCH a reliable predictor of future returns. NOT!

Alas, the IUL's index floor “reassurance” is really just more lipstick that carriers slapped on their original UL pigs from the '80s. Their main underlying problem remains just the same: skyrocketing Cost of Insurance (COI)--aka mortality charges--as you enter late life. Many IULs really act like auto-renewing 1-year term policies which subject you to ever faster rising COIs that start to soar at a blistering rate as you enter your 70s. Unless you can get a robust no-lapse rider, you’ll almost certainly be forced to give up your IUL if you live long enough--and you don’t have to be Methuselah either.

Per the FFIUL’s COI chart a 90yo healthy non-smoking woman with a $500k death benefit will pay a staggering **$61,524.96** in premiums for that year. Even if you earned a steady average 5% rate of return for decades on the index account in your IUL, you’ll likely run out of your cash value by age 90, at a time when your premiums skyrocketed to over $5,000 per month.

Boom--you lose your policy and the Death Benefit you paid on for decades. So much for "Perm Life."

Instead Anon, I’d get Term Life and follow Warren Buffett’s advice, straight out of his 2013 Berkshire Hathaway address to shareholders: “...My advice … could not be more simple: Put 10% of the cash in short-term government bonds and 90% in a very low-cost S&P 500 index fund…” Hope this helps.

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Anonymous
map-marker Fort Myers, Florida

What is the wfg email addres

what is the wfg email address
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1 comment
WFG

Hello, If you need assistance, you can reach the home office by submitting a support ticket on MyWFG or contacting your upline Senior Marketing Director. If you are a Senior Marketing Director, you will be able to call the home office for support.

Anonymous
map-marker Vancouver, British Columbia

World Financial Group Work Experience Review from Vancouver, British Columbia

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I guarantee that each person who became successful in WFG became good at hiding the truth from people, and also good at ignoring the truth for themselves. The whole history of the company is based on making more commissions and taking advantage of the consumer.

If you are willing to become successful at the expense of your clients, with the consequences to appear decades later, than WFG is the right place for you. If not, email me at saynotowfg@***.com and I would be happy to share my experiences within WFG.

View full review
Reason of review:
Not as described/ advertised
12 comments
Guest

I am a Canadian Professional Engineer and personally bound by a very strict code of ethics in my profession and outside of my profession so take serious ofense at anyone suggesting that I intend to take anyone for a ride to line my pockets. Like any business there are people out there without ethical principles and they will be found out and dealt with.

The Canadian licensing regulators have ethics guidelines that can result in loss of license and prosecution if mis-dealings are found. So give it a rest.

There are bad people in any business and they need to be stopped. If my up-line sponsor in WFG crossed the line I would collect info and have him held accountable.

Guest
reply icon Replying to comment of Guest-1625172

Your integrity is limited to what you believe is right or wrong. If you don’t know something is wrong, that doesn’t excuse you from learning more about it. Do your research on the products my friend.

Prudencio Zlt

“Hiding the truth from people” is RIGHT.

Here’s this, straight out of WFG’s System Manual

“Avoid the Scenario of Disaster.

**If you start answering too many questions**, it takes the edge off the prospect’s curiosity.”

Are you kidding me?! You seriously say that?

Btw, that manual mentions “dream” 17 times. It mention “insurance” twice.

You gonna tell me this isn’t more about selling a dream and an actual product?

The product being a pricey lousy IUL that siphons off $100s of your hard-earned bucks every month and can explode decades from now leaving you with *nada*? WFG is legalized institutionalized systematized evil.

It ruthlessly plays on the hopes of the ignorant and the desperate. And gives a fertile hunting ground to the immoral and the amoral.

Guest

Spoken like a true employee who does absolutely nothing. You are better off making some else rich.

Guest
reply icon Replying to comment of Guest-1139257

Actually, I haven't been an employee since 2010, and I currently own 2 businesses in 2 different fields including one in this industry. Thanks for coming out.

Prudencio Zlt
reply icon Replying to comment of Guest-1139577

Whatevs. Like we're supposed to believe you?

We don't know you from Adam.

Or Eve. So just say whatever you want.

Guest
reply icon Replying to comment of Prudencio Zlt

This was the OP replying to the Anonymous who said "spoken like a true employee" :)

Prudencio Zlt
reply icon Replying to comment of Prudencio Zlt

Whoops! (blush) Thanks Anon author of #114****!

Prudencio Zlt
reply icon Replying to comment of Guest-1139257

Yeah, just like the way the 99+ % of the WFG downline make the top

Prudencio Zlt
reply icon Replying to comment of Guest-1139257

"Making some else rich." Right. Just like you do for your top one percent while the bottom 99 percent make poverty income. But hey why don't you hit me up with some more of your mindless WFG blather?

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cynthia a Hys
map-marker Canoga Park, California

HAVE A LIVE AGENT ANSWER THE PHONE

AGENT #48CUF. I have been trying to reach a human for weeks. I need to: 1. Get access to MYWFG.COM because I am locked out. I have no account information. 2. I need to find out the status of my license. Do I have a license? The application process was submitted wrong months ago and I am getting the run around. I may need to take a test soon and I need access today.
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Reason of review:
Poor customer service

Preferred solution: Full refund

1 comment
WFG

Hello Cynthia, We checked and it looks like you were able to access MyWFG on November 19th. Your account is not hard locked, so if you are accidentally locked out, you can simply unlock your account by clicking the Reset Password button on the home screen.

It looks like your license is in the system. If you need assistance with appointments, selling, or have questions about products, you can reach out to the Sales Desk at 770 WFG-SELL.

Kassidi Qvr

Locked out of WFG

my *** is out of state, and i need access to my wfg account. i am locked out and need to speak with someone. I’ve been locked out for 3 days now. WFG has me reset my password 3 days ago. and now every password i enter is wrong.
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Pros:
  • Good mentorship
1 comment
WFG

Hello Kassidi, We are not able to check the status of your account without an agent code. If you are soft locked, you will be able to reset your password by clicking the Reset Password button on the log in screen. If you have submitted an incorrect password 10 times or have not logged into MyWFG in 6 months, you are hard locked out and will need to contact your upline Senior Marketing Director for assistance.

Anonymous

Really good business you make more money if you are working hard

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Really good business you make more money if you are working hard
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Pros:
  • Professionalism
Cons:
  • Everything about their business model
Reason of review:
Good customer service
Nancey Sas
map-marker Toronto, Ontario

Is WFG a Pyramid Scheme? Read these -New!- FTC Guidelines. Decide for Yourself!

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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 gov/tips-advice/business-center/guidance/multilevel-marketing

Here are key points I quote DIRECTLY from the FTC document. How you answer them will help you decide whether or not WFG recruiter/agents create a PYRAMID SCHEME:

“If the money you make is based on the number of people you recruit and your sales to them...it could be a pyramid scheme.” Folks, do the less than 1% of the WFG recruiter/agents who makes a living in this career--who earn $50,000 per year or more--make most of their money as a direct and/or INDIRECT result of their recruiting efforts? If so, this suggests WFG recruiter/agents create a PYRAMID SCHEME.

“...Pyramid schemes are illegal, and the vast majority of participants lose money…” Folks, do the vast majority of WFG recruits make money, break even, or lose money? If the vast majority of WFG recruits LOSE money, this suggests WFG recruiter/agents create a PYRAMID SCHEME.

Are some or most of WFG products “...overpriced, have questionable merits, or are downright unsafe to use…”? Folks, e.g. Transamerica’s FFIUL, as WFGers tool it, does it represent a solid, safe and competitive product? Or is the FFIUL overpriced and have questionable merits? If the latter, this suggests WFG recruiter/agents create a PYRAMID SCHEME.

“...Can your sponsor — the distributor who is recruiting you — support the claims about the product’s performance?...” Folks, when your WFG recruiter/agent pressed you to buy a product, like the FFIUL, did he give you a full copy of the policy for you to read to your satisfaction before you signed anything or paid him a dime? Did he show you actual -realized- LONG-TERM performance--going back to 1997 when Transamerica issued the first Indexed Universal Life (IUL) policy--on actual live policies? When your recruiter/agent used his Illustration software to project your FFIUL’s performance, did he show you ALL the policy data he uses in his illustration software? Especially the all-important COI charges which explode into the stratosphere in your late life? Which, if you live a reasonably long life, can force you to GIVE UP this policy and you and your heirs LOSE EVERYTHING? If he failed to do one or more of these things, this suggests your WFG recruiter/agent helps create a PYRAMID SCHEME.

“...Do an internet search with the name of the company and words like review, scam, or complaint. Look through several pages of search results…” Folks, please go ahead and search on “WFG review,” “WFG scam,” and “WFG complaint.” What do you find? How many of the search results complain about WFG and call it a scam? The higher the percentage of the total of such search hits, the more it suggests WFG recruiter/agents create a PYRAMID SCHEME.

Does WFG have “...a positive reputation for customer satisfaction…”? Folks, how much feedback have you seen just from *customers*, not customers who also became WFG agents and so now have a vested interest to promote WFG? The less such feedback you’ve seen, the more this suggests WFG recruiter/agents create a PYRAMID SCHEME.

“...Get … information in writing…” Folks, do WFGers put in writing all the important information they tell you? The less they give you important info in writing, the more this suggests your WFG recruiter/agents create a PYRAMID SCHEME.

“...Your sponsor and other distributors should be willing to answer your questions…” Folks, are your WFG recruiter/agents willing to answer ALL your questions? If not, this suggests WFG recruiter/agents create a PYRAMID SCHEME.

“...get a complete picture of how the plan works: not just how much money distributors make, but also how much time and money they spend on the plan, how long it takes before they’re earning money, and how big a downline is needed to make money. One sign of a pyramid scheme is IF DISTRIBUTORS SELL MORE PRODUCT TO OTHER DISTRIBUTORS than to the public — or if they make more money from recruiting than they do from selling...” Folks, is your WFG recruiter/agent willing to tell you what percentage of product purchasers are also distributors? If not, this should make you seriously wonder if WFG recruiter/agents create a PYRAMID SCHEME.

Finally gentlefolk, the FTC document offers you these four valuable pieces of advice:

“...Keep in mind that when you recruit new distributors, YOU are responsible for the claims you make about how much money they can earn. Be honest, and be realistic. If YOUR promises fall through, YOU could be held liable, even if you are simply repeating claims you read in a company brochure or heard from another distributor…”

“...Remember that your sponsor (and others above your sponsor's level) will make money if you join the program. So TAKE YOUR TIME, and RESIST PRESSURE to join. Be aware of shills — fake references paid by the company or distributor to pretend they were successful earning money through the plan…”

“...Ask a friend or adviser to read the materials. You may want to consult with an accountant, a lawyer, or someone else you trust who is not affiliated with the plan to review the terms of compensation, determine whether the plan can back up its claims about the amount of money you can make, and analyze the information you’ve been given…”

“...Ask your sponsor and other distributors tough questions, and DIG FOR DETAILS. Don’t consider it nosy or intrusive: you are on a mission to check out a potential business deal that will require your money and your time…”

Thank you for taking the time to read this. I hope it helps you!

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Cons:
  • Cult-like environment
  • Deceptive practices
Reason of review:
Bad quality
3 comments
Guest

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.

Guest

Very well thought out, please see my Sacramento review for their new deceptive marketing technique. It's a WORKBOOK with 5 chapters.

The last chapter is a recruiting one and the slides are a complete joke.

"You'll learn more here about finance than in college" they say.

-Liquid

Guest
reply icon Replying to comment of Guest-1186695

Also have to include many of them can't even understand basic economics, nonetheless finance lol. And good posts both of you, OP and sacramento anon. People need more help to avoid WFG and get their money back.

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