World Financial Group Reviews

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The truth about world financial group. I have decided to check into this myself and go to their offices around Alberta. Now what I've seen is all major banks in North America would not attach their names to a pyramid scheme. TD or Bmo would not risk their reputation....
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8 comments
#1272483

Alberta WFG salesman fined;

wwwdottheprovincedotcom/Edmonton+mutual+fund+dealers+fined+misconduct/1239****/storydothtml

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ID
#990689 Review #990689 is a subjective opinion of poster.
Reason of review
Good quality
New Reviewer
Great Experience equal opportunity for every body
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1 comment
#1249657

Yes Jaswinder Dhillon. WFG offers a Greatly discouraging Experience.

And this MLM gives equal opportunity to every warm body to waste his time, squander his savings, and ruin his friendships and family relations in the pursuit of a dream he can attain only by selling his soul to massively rip off people who trust and even love him. The numbers show you are much more likely to rise to the top at your J.O.B. that slaving away as an agent at WFG. And going up through the ranks of your J.O.B., you're less likely to detest yourself for the rest of your pathetic, craven, utterly corrupt life.

Thank you for bringing this up.

ID
#966041 Review #966041 is a subjective opinion of poster.
too bad, you look at it in a negative way. You quit before you even started. If you look at their system and stay long enough, it could have changed your life and financial future, a beautiful lifelong career
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13 comments
#1827120

First hand experience with WFG puts a had taste in your mouth.

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ID
#897835 Review #897835 is a subjective opinion of poster.
Location
San Diego, California
I am delighted to be in the WFG Family as an Associate on the MD contract. The leadership is stellar and the products we have to help families are second to none. I highly recommend getting involved with WFG as a business owner and or a client.
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7 comments
#1183752

This "delighted" person--whoever he is--must really love him some WFG fer shure. He wants to keep his "stellar" leaders and his “2nd-to-none fambly-heping products” all a total secret from us :-)

So sure.

Why shouldn’t we believe this total unknown who maybe comes from a place with almost 20 million people?

Why don’t we all take seriously his vague recommendation that comes from Who the *** Knows Where? Hey, I'm ON IT :-)))

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ID
#879265 Review #879265 is a subjective opinion of poster.
Location
Los Angeles, California
Reason of review
Good quality
New Reviewer
One of my friend sold me one million IUL, because I trusted him, though at that time he had not known what he sold to me. As a result, he asked his top team leader to talk me with all the rosy pictures of the product by giving me an great figures in their illustration....
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24 comments
#1605565

Okay guys, I don't understand why WFG is a big deal hear if underwriters are other companies. WFG is a broker like any other broker.

Regardless of who sells you any kind of a policy they all "DON'T" want you to cancel. Besides any one who sells any insurance product has to be licensed and in order to keep their licenses there are rules and regulations that mostly protect the buyers, and sellers "CAN NOT" break them if they want to make a living selling insurance. The purpose of insurance is "PROTECTION" and Universal Life (UL) and Whole Life (WL) or any combination of those hefty premium type insurances are to protect wealthy and high net worth individuals who have a lot to loose and therefor pay a lot more to protect themselves.

Majority of people who earn less than $150K a year should be okay with Term Life (TA) and maybe add some Critical Illness (CI) to it and invest the difference in S&P 500 index fund that has been returning on average between 8 to12 percent over the past 10-20 and 30 years. After all that is exactly what all insurance companies do.

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ID
#873100 Review #873100 is a subjective opinion of poster.
Location
Waukegan, Illinois
Cons
  • I feel having misled
Reason of review
Not as described/ advertised
Loss
$60000
Preferred solution
Full refund

Americans need to take financial healing into their own hands. Uncle Sam isn't going to get resources lost back to you.

Have you ever been licensed & successful as an insurance agent ANYWHERE! All of your complaints are specific examples of what it takes to be successful in ANY financial market as an agent including real estate, mortgage banking & any other venue dealing with loans, banking, real estate investments, financial service products.... If you did not attack the opportunity to gain the skills & knowledge needed to become a professional worthy of helping others then I totally agree with you! You are an example of a lifetime EMPLOYEE wanting a salary & leaving worry & success about yourself as well as others in someone else's lap. Dallas
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18 comments
#1181416

There's becoming successful by doing the right thing and hustling, and then there's becoming successful by not having any clue what you're doing and trusting suits while they take advantage of your friends and family, and teaching you do the same. You WFG agents think that WFG is the end all be all of all business opportunities, because that's all you can do, be a puppet and memorize their scripts while you continue to take advantage of families who actually need help the most.

READ AN ACTUAL POLICY and use a calculator while you read through it!! If you still feel an IUL is good for you, you are not qualified to be in this industry!

#1178846

Lol. To start, at least at actual firms, they actually check if you have proper credentials and give one-on-one interviews beforehand instead of picking people off from their employee's "warm" market and the streets to "work" and make money for them.

Plus, many firms have a base pay with commission pay stacked on if you so choose to make more. Also, they at least don't short-change you on your commission as many pay 70-80% commission despite whether you just joined and properly train you with clients who come seeking your firm. Essentially they provide a much more stable foundation to start for those actually knowing what their doing in the field than WFG. To add on, other financial institutions have a much more credible reputation and act professionally in dealing with complaints.

You sir have poorly articulated yourself as a credible professional and continue to damage the WFG image. Finally, whether one becomes successful or not in WFG does not excuse its shady tactics which means it does not act as a fiduciary.

#1178863
@PissedConsumer1178846

He poorly articulated. Full stop. OP has a real communication problem.

#1176723

Hello Dallas...I tried the tab that can private message author but you need to have a business for it to work...so you didn't bother adding the details of YOUR BUSINESS...now your going to be shunned by WFG..don't you know you have to be hard working and not providing your business info isn't helping to recruit?!

#1176791
@PissedConsumer1176723

"Dallas" is apparently another anonymous WFG rep-licant who spews talking points and utterly fails to back anything up. Only his language is more confused than most.

#1176494

Wfg is a polyhedron having for its base a polygon and for faces triangles with a common vertex.

#1176542
@PissedConsumer1176494

Heh. Just like a certain hotel located near the Brainwash'em 2016 convention site in good ol' Lost Wages.

And like a certain iconic building once owned by an insurance company whose name is attached to WFG's FFIUL, this MLM's flagship money black-hole life insurance policy. And, according to French pendulum-dowsing author Antoine Bovis, a certain polyhedron that performs all kinds of wonders, which include preserve foods, sharpen razor blades, improve health, function "as a thought-form incubator," and stimulate amorous urges.

You know Anon. Just in case you haven't heard and seen enough wild and unsubstantiated claims and unmet promises that swirl around a certain polyhedron.

#1176332

I don't get your thoughts . What are you trying to say. Z

#1176331

Dallas..lol...you must be at the ola las vegas momentum seminar and are freshly brainwashed I can see!!

I've seen pics of people posing with cars and cash in the foreground...all for optics..make you believe that you will be successful while 99.5% of all 250,000 agents and recruits will make 2200$/year or LESS in commission if we are to believe OFFICIAL WFG COMMISSION PAID IN 2015! You don't need to continue with the seminars and pep rallies...you are fully brainwashed and good to go!

#1176376
@PissedConsumer1176331

John, LOL! But how did this newly-minted tron sneak past QA and get approved for mass outreach?

They still need to do a lot of work on his English language module. Or did they decide to plop him off the assembly line anyway?

That a gibberish defence is better than no defence at all? :-)))

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ID
#869758 Review #869758 is a subjective opinion of poster.
Location
Moreno Valley, California
Pros
  • American financial recovery and protection
Reason of review
Proactive program to help Americans in financial recovery.

IUL (index universal life) - mirrors the S & P Index or Global Index. There is bunch of insurance companies that sell this not only WFG - Transamerica there is also Nationwide through WFG, Accordia, Voya, Kansas Life etc. The money grows up to 12% or 15% Cap depending...
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16 comments
#1401765

Yes it's true the VUL (Variable Universal Life) does fluxuate with the market i.e "Variable". The risk is great but the reward can also be great.

Indexed Universal Life mirrors the S&P and is a "Fixed" interest.

Able to rise and plateu. The risk is low and the reward is low, but safe.

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ID
#838682 Review #838682 is a subjective opinion of poster.
Location
Peoria, Arizona
I've been a member of WFG now for seven months and just got my life and securities license about two months back. The moment I became licensed I had a check of about 9,000 waiting for me and made over 20 thousand since. I love doing what I do, it comes natural to me....
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19 comments
#1158597

If anyone knows anything about the WFG compensation system, they would know this post is complete *** You don't have checks waiting for you when you get your license, because all the commissions for sales that were already done go to the licensed agent at the time of the sale! It's the uplines that made thousands of dollars by ripping off your friends and family members (who you will lose once they realize the truth), you're just hoping to do the same to your recruits' friends and family.

The majority of the "leaders" on the wall of the office I was briefly associated with weren't even dual licensed!! Meaning they were "helping families" and making big commissions selling universal life, not even having more than a basic understanding about other investment vehicles (the rule of 72 does not count as investment knowledge). Every single meeting they would go over field case studies about how this poor family almost got left behind and thank god WFG came around to educate them, only to convince them that they had to spend three hundred dollars a month on a policy that will leave them with nothing in a couple of decades. This company is horrible, from the top down.

I have no problem with a business that is based on recruiting if they are actually doing a good thing for the consumer. WFG does not fit into this category.

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ID
#835769 Review #835769 is a subjective opinion of poster.
Location
Golden Valley, Minnesota
New Reviewer
World Financial Group - Review in Financial Services category  from Folsom, California
Update by user Apr 18, 2016

http://www.aegon.com/en/Home/About/History/Transamerica/

Transamerica

In July 1999, Aegon acquired Transamerica, one of the best-known insurers in the United States, and a company with a rich history of its own.

Transamerica's history dates back to 1904, when Amadeo Gianni...

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4 comments
#1146895

Mr/Ms “World Financial Group,” where’s your proof that Aegon owns your recruiting-driven MLM? Exactly what’re trying to show us here?

I see a tiny little screenshot here with the words “In July 1999 Aegon acquired…” Acquired whom? And seriously you're talking about 1999?! That’s so last millennium! The world has changed since then.

How about you tell us what's going on 17 years later in 2016?

Mr/Ms “What *** Garbage,” just because you write the word “PROOF” doesn’t mean that *IS* proof! LOL!!

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ID
#831879 Review #831879 is a subjective opinion of poster.
Location
Folsom, California
New Reviewer
While I am only one of several offices in the Houston area, I have been an associate and business owner with WFG for 4 years and counting. When someone joins WFG with an Associate Membership Agreement, they are a "business owner", not an employee! An Employee gets...
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21 comments
#1250205

I guess Mr/Ms/Mrs Anonymous of Mar 24 #113**** has such an illustrious employer, who apparently insures that their over 60,000 + employees/contractors/affiliates never do anything wrong that damages the brand. Please tell everyone here who that company is. It seems many people here are seeking to be affiliated with companies like yours.

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ID
#812633 Review #812633 is a subjective opinion of poster.
Location
Houston, Texas
Product
World Financial Group Seminar
Pros
  • Offers multiple companies products
  • Good business opportunity
Reason of review
I understand this a business, not a place of employment
I believe after having a great experience with World Financial Group that the people that post negative comments are the people who did not make any money working with the company. If you follow their system you become very wealthy
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10 comments
#1140435

Uh, NO, Reseda guy. It’s about your willingness to kick your morals to the curb and vigorously and daily *screw over* your friends, family, and other customers by selling them WFG’s atrocious *** super-pricey policies that could blow up on them years later.

But guess YOU don’t care about that do you?

So long as you get your shot at making loads of filthy green luchre?

How many pill you have to take get to sleep at night?

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ID
#804997 Review #804997 is a subjective opinion of poster.
Location
Reseda, California
Reason of review
Good quality
When you're given an opportunity to be successful, it's not a magic pill. It's a chance to work as hard as you possibly can to build a family legacy & help families obtain the financial security everyone deserves. Unfortunately if you're in the habit of blaming...
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19 comments
#1136860

People like the person who wrote the above letter, lose all credibility as soon as they start to play the finger pointing game. Their belief that if a person does not fall in line like a good little sheeple and play follow the mlm leader then they aren't trying or aren't driven, is utter BS. The problem with people like the letter writer is they are so drunk on the pyramid/mlm scheme kool-aid, they can't form a sober thought.

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ID
#797526 Review #797526 is a subjective opinion of poster.
Location
Jacksonville, Florida

WFG

I have been with WFG since April 2015. At first, I have a lot of questions about this company. After five months, I finally understand more about the structure, and how the commission is being paid. It is absolutely legal. It is NOT a pyramid scheme. Pyramid schedme is illegal. The company has been around for many many years. If it is illegal, the government has already shut it down. All I ask you who was introduce to WFG to stay for at least 5 months before making any conclusion. People who make the conclusion after one or two visits clearly do not know enough about this company. I love WFG! The company provides training to run your business. You are hired as an independant contractor. This is your own business. The people who joined WFG is so helpful to another, more then the people I know from my church!
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5 comments
#1305725

My problem is people are commenting as "Anonymous". People are hiding and just bubbling away things that they have little understanding. "Anonymous," think cash value insurance is a rip-off.

#1306216
@Nikolas Tqa

Yeah, "ibisquera," if you're so hot on full disclosure and unmasking everybody, then tell us YOUR full name and what your actual deal is with WFG. Or kindly move along and quit bothering us. Thank you.

#1031797

You sell cash value, you rip people off with that.

#1037963
@PissedConsumer1031797

Kindly expound how cash value is a rip off?

#1112764
@PissedConsumer1037963

I didn't write that previous post, but I would be happy to show you many sources and articles why cash value is not right for 99% of people, here in Canada.

The situations where cash value is appropriate:

1) corporate policies - the premiums are paid with before tax dollars, so are tax deferred, making them equivalent to RRSP for an individual. This does not happen with a personal policy, as it is always paid with after tax dollars.

2) a family with a disabled child who will always need financial support.

3) an individual with multiple properties and no cash reserve for their estate, who will get the tax bill.

Now how many of WFG clients fit one of these situations?

1%? Even if they do, this is way beyond their capacity.

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ID
#696291 Review #696291 is a subjective opinion of poster.
Location
New York, New York
Reason of review
Good quality
If you have joined WFG and stuck for more than a year in the business without any results, blame it on the recruiter for not doing a good job. Not the company. These are the people that have been trained improperly (or are still learning) and are not getting the...
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6 comments
#1063821

"If you have lost money because of a product you bought, blame it on the agent. Blame it on how new the company is and how they are still trying to improve their training implementations."

That's says a lot right there.

Uneducated agents whose eyes light up with dollar signs. Recruiting more of them same. Leadership within a company is great to help yourself and improve in life, but these are peoples retirements you are *** with, not just selling them some *** face cream or coffee.

I bet you that less than 2% of WFG reps have actually met their office's compliance manager. Think hard about this decision...

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ID
#689940 Review #689940 is a subjective opinion of poster.
Location
North Wales, Pennsylvania
Pros
  • Good business opportunity
  • Consistent motivation from team
  • Good mentorship
Cons
  • Vague in the beginning
  • Specific strategies of individual agents
  • Moderately high fees for starting
Reason of review
Good quality
New Reviewer

Integrit

Every WFG agent is an independent business owner, responsible for their own conduct. WFG is part of Aegon and Transamerica. Each agent is licensed and trained in an inspiring, encouraging, supportive and empowering environment. It is interesting people openly besmirch an entire organization with no sense of the individuals and families who have and can benefit greatly. WFG is education minded vs. sales oriented, client support vs. company oriented. No reputable agent with integrity will force a sale. The opportunities to succeed and turn one's financial stability around in a short time is directly dependent on one's commitment and hard work.
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13 comments
#1017143

LOL. Why don't you get you some good motivation DVD'S for a good job.

That's all they do with the right motivation talker he can turn an

Homeless drunk into a Brain Surgeon. Just by talking or even you.

#985935

all the amounts below are for a month...1k a month for the average wfg agent at the bottom or middle of the pyramid...now that's suppose to be serious money? 90 million a month in commission for 65000 agents paid by wfg in north america.Do the math all you wfg agents and divide it with your colleagues.all you financial advisers should be great in math,so divide and share all those dollars...lol...busted and broke seems to be the common denominator.now don't forget the taxes and expenses on that 1k/month.

#986244
@PissedConsumer985935

We are way more than 65000 agents and business owners and i'm leaving.The market is saturated and i'm not paying to go to the meeting in las vegas in august.Did you know there will be more than 23000 agents at that event?Now your math is right,nobody is making quarter millions of $$ except the few at the top.I've dried up my soft market and I want to rebuild the respect and relationship with my family and friends.I have been in the last year taken them as $ signs and now realize I was brainwashed to think all was about the all mighty dollar.it's not and I quit WFG,i'm done!

#987417
@PissedConsumer986244

Congratulation on your new move! For sure you will have MORE friends now.

#985931

Don't you love it,just got a facebook post that wfg gave 90 million in commission in a month...you say oh my wow,but now you get the numbers and the amount of office,at least 3500 offices here in the usa and about 100 in Canada for close to 65000 active agents.Now do your math and calculate your commission and you will see that the agents on average are making yes wait for it.....the enormous amount of 1500$ each...oh I know the top layers of the pyramid do most of it so some probably clear 100k a year but 2/3 of them don't even gross 1k and then of course you have to pay all those expenses to fly weekly to your pep talks and the taxes on those commissions..that are the real #'s.the numbers wfg tells us they paid in commission so millionaire by the thousands my agents.And to think my wife was caught in this mess 2 years ago. thank god she's out of it.

#983128

The problem is when you get paid by commission you become not a client oriented individual,you become pushy.Now how much training in years average do your new business owners get? 1-2 weekends and a test..that's it.now with that you want your potential clients to trust them with there life savings.gambling is not something I want to do with my future but I guess I should trust that you are more qualified than most?

#983775
@PissedConsumer983128

It is obvious that you MR or MRS. anonymous never got any training and don't understand what you are talking about.

You know that there are license requirements by the State and two courses you must pass by the State in order to be appointed by any provider and state in order to help a client out yourself. You obvious didn't go out on any field training appointments with your license trainer and attend the weekly meetings. And you sure made it obvious that you never got to see any of the products and services we offer. That's how we filter out the ones that don't want to learn and filter in those that want to learn.

And if gambling isn't something you want to do with your life savings, then why don't you set down with the Senior Marketing Director of the branch and let him or her show you how we help out families, and you might even learn something for free. But I guess you rather trust your HR department that really doesn't have a clue and a banker that wants to hit his monthly quota?

You see, we are not financial advisors that charge a set down fee of $5,000-$50,000.00, we are financial educators that don't charge a cent... How qualify is your banker and HR department?

#984309
@PissedConsumer983775

Hello MR or MRS Anonymous...FYI. I am not the same original anonymous as above(comment #983128).

Yes, I believe you have license, but may I know what kinds of license that you are holding? Are you having Any of the FINRA (series 6, 7, 63, 65 or 66) license or you only have a life insurance license? Many people wasn't aware of life license can already sell a bunch of products such as Fixed Annuity, Equity indexed Annuity, Universal life, Indexed Universal Life etc. Series 6/63 are required for mutual fund products such as "Variable" Universal Life and "Variable" Annuity.

It seems like many of the WFG agents only hold an insurance license and had already "named" themselves as "Financial Advisor". How many of you are working part time? How many of you are attending those "brain washing" meetings weekly instead of REALLY spent time in understanding the complex products? How many of you are "BUSY" due to endless recruiting?

And finally how many of you are having proper education or any financial background? Yes, everybody should be given a chance, but based on whatever time that you are having, can a clients have enough confident on you? You focus on warm market due to you family trust you and in other word, you are actually taking advantage of the relationship. Yes, some of you may have series 6/63(which is the BASIC as a financial advisor, most financial institutions require MORE than that), please don't "mask" your self as "financial advisor" when you are NOT.

Most of the WFG productst can be founds in any insurance company.

Finance is a very tough area and require "hard work". What I mean are: study the products really throughly, cope up with the financial news daily, analyse the financial trend, and look for the clients that really "fit" in those products(which may or may not be your own family or friends).

There is not such things as "one size fit all" products.

#985869
@PissedConsumer984309

My husband is friends with a regional manager for wfg.his friend drove him crazy.He is now ducking him like the plague.He wanted to sell him life insurance with part of it on a mortgage.Problem is we don't have a mortgage on our home.So for a 100 thousand insurance it would cost 320$/month but the kicker is we could have a 250 thousand insurance if we only take a mortgage for our house instead of putting our savings in it.So in 15 years our life insurance shrinks back to 100 thousand because the mortgage will be paid off..oh but it looks good and we would for this wonderful deal pay 3% interest on our mortgage with a return of maybe 6%.It's so ridiculous and this is how they are trained.Most don't have decent training and shouldn't be permitted to sell any financial products.Have a course of at least 2 years not 2 weeks and an exam..this is plain ***!

#982759

How many of your reputable agent is not pushy with family and friends>NONE..they will drive them insane.

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ID
#634294 Review #634294 is a subjective opinion of poster.
Location
Ontario, California
Pros
  • World financial group
  • How they cared about what i wanted
  • Knowledge on product
Reason of review
Good quality