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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:

โ€œIf the money you make is based on the number of people you recruit and your sales to them...it could be a pyramid scheme.โ€ 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.

โ€œ...Pyramid schemes are illegal, and the vast majority of participants lose moneyโ€ฆโ€ 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 โ€œ...overpriced, have questionable merits, or are downright unsafe to useโ€ฆโ€? Folks, e.g. Transamericaโ€™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.

โ€œ...Can your sponsor โ€” the distributor who is recruiting you โ€” support the claims about the productโ€™s performance?...โ€ 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 FFIULโ€™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.

โ€œ...Do an internet search with the name of the company and words like review, scam, or complaint. Look through several pages of search resultsโ€ฆโ€ Folks, please go ahead and search on โ€œWFG review,โ€ โ€œWFG scam,โ€ and โ€œWFG complaint.โ€ 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 โ€œ...a positive reputation for customer satisfactionโ€ฆโ€? 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 youโ€™ve seen, the more this suggests WFG recruiter/agents create a PYRAMID SCHEME.

โ€œ...Get โ€ฆ information in writingโ€ฆโ€ 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.

โ€œ...Your sponsor and other distributors should be willing to answer your questionsโ€ฆโ€ Folks, are your WFG recruiter/agents willing to answer ALL your questions? If not, this suggests WFG recruiter/agents create a PYRAMID SCHEME.

โ€œ...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 theyโ€™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 โ€” or if they make more money from recruiting than they do from selling...โ€ 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:

โ€œ...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 distributorโ€ฆโ€

โ€œ...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 โ€” fake references paid by the company or distributor to pretend they were successful earning money through the planโ€ฆโ€

โ€œ...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 youโ€™ve been givenโ€ฆโ€

โ€œ...Ask your sponsor and other distributors tough questions, and DIG FOR DETAILS. Donโ€™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 timeโ€ฆโ€

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

Reason of review: Bad quality.

World Financial Group Cons: Cult-like environment, Deceptive practices.

Location: Toronto, Ontario

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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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