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20 comments
3.3

I have been with wfg for 4 months. I thought i would have made at least 50K because they say it only takes 1 client a week to make 100k by your self.

I don't want to recruit anyone because im nervous about what they will say if they don't like it. Anyways its dang hard to find a client a week when you don't know anybody. Essentially i have to ask everyone who they know to find people who want to save. In four months with the company i have probably spent 700 dollars but i have only made 6,296$.

I just became a "field trainer" 2 months ago. The appointments kinda suck because people cancel all the time. If they actually show up it is pretty easy. Just compare their roth or 401k to a IUL and ask which sounds better, but then there is a bunch of paperwork to deal with.

I don't know if its worth it to keep doing it. The other guy in my office though had an uncle who owned a bunch of Miadas businesses and set up some kind of group plan for all the employees and is making 40K off that one account!

***! I think i don't know the right kind of people to do this.

Reason of review: Hard to do, not for young people.

Location: Roseville, California

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#1190775

Hello Phoenix Anon. As expected, you're another one of the WFG anonytrons who stages the same old hit-and-run lies.

At some gut level, you must care that you have zero credibility. Of course we have no idea who are and which office you represent. But that doesn't matter. You’ll find, like I did, that you can’t forever run away from *yourself.* You can’t keep deceiving and stealing from good and kind people.

You *will* start to deeply hate yourself because of the constant fraud you commit and the constant lie you live.

Fortunately Phoenix Anon, it’s never too late for you to make a new start.

It’s never too late for you to leave WFG, this terrible harmful pernicious organization that turns its agent-victims into pathogenic viruses. Phoenix Anon, it's not too late to start your recovery and become a human being again.

#1188977

A client a week to make 100 k by yourself? That's *** and this guy knows it.

You always are splitting commission with people and are giving up money to your greedy uplines.

How can you make 100,000 by yourself if you're only making 30% commission? This joke of a business revolves around recruiting people and that's how you make some sort of profit.

#1189107
@PissedConsumer1188977

Unfortunately Roseville anon has yet to truly realize this. Hopefully by reading the comments below from anti-WFGers (who also provided evidence) and the reviews on this site, they can leave WFG for good and save themselves.

#1188472

A “former” friend introduced me to their *** When I questioned the product and the numbers they offered I was confronted with RUDE comments insulting my intelligence and their wish that I lose everything in my 401k with the next market downturn. The 7702 Personal Plan is their big push. My impression based on how it was detailed out…it is a guaranteed 1 year term life policy that renews every year on your birthday at the next incremental higher rate. According to them, you can borrow against it without penalty and when you pay it back…you’re paying yourself back. Can someone please explain to me, how this is a retirement plan if I have to pay it back?! Clearly they were stumped and couldn’t think of anything outside of insults for a response. If I am elderly, retired, and am need of extra money to supplement my retirement…at what point am I going to have any money to repay that 7702 Plan?! So what will end up happening is my death benefits will decrease by the amount I borrowed, but I’ll continue to pay the monthly premiums for the original face value. And if I can’t afford to repay or afford the increasing premiums, my death benefits will continue to decrease until it is completely gone…and POOF no retirement plan and no life insurance. Clearly I never bought in and lost a dear friend in the process.

Unfortunately to say, I think more and more of these SMDs are making well over $100,000 a year. The *** that I met, I know for a fact that this person made over $10,000 a month. But all of this was on the back of poor and unsuspecting people who fell for the pitch hook, line, and sinker. So yes, if you are unscrupulous, rude, a liar, unconscionable and have no qualms about stealing other people’s hard earned money…WFG is the JOB for you!

People who were harmed need to file a complaint with the Federal Trade Commission (FTC). If enough complaints are lodged, they won’t be able to ignore it and be forced to step in. You can file the complaint here:

Www dot ftc dot gov/faq/consumer-protection/submit-consumer-complaint-ftc

(Please repost this link onto future comments to this website or other websites just to spread the word and make is easier to people to find.)

#1188676
@PissedConsumer1188472

I'm sorry you had that experience with that particular *** But We normally explain in detail how the 7702 works.

"paying yourself back" means that if you take of your 7702, when you do pay the premiums back, those premiums will be paid back into YOUR 7702.

#1188692
@PissedConsumer1188676

Phoenix, the 7702 is a Universal Life (UL) policy, correct? Is it a Variable UL or an Indexed UL? Thanks.

#1188793
@PissedConsumer1188676

You don't get it. Just like that RUDE *** Just like ALL WFGERS. You offer NO true explanation. Short responses with no substance. And if you intended to answer my question...you should read my entire comment. I KNOW I "pay myself/the 7702 plan" back. If this is SUPPOSEDLY a retirement plan and I'm borrowing against it to supplement my income during my golden years...why am I repaying it? Even if the repayment goes back into my plan...I clearly needed the money so I'm not going to have the income to repay it. STOP referring to this God-Forsaken 7702 plan as a retirement plan! It's clearly just life insurance...it's like an equity home loan with really high interest rates that you cannot deduct from your income taxes.

People who were harmed or bought into this 7702 plan need to file a complaint with the Federal Trade Commission (FTC). You can file the complaint here:

Www dot ftc dot gov/faq/consumer-protection/submit-consumer-complaint-ftc

#1188438

Sure Roseville WFG Anonytron. If you truly made $6,296 in four months, that puts you well above the average for the 99.8% of WFGers who earn under $200/month.

So if you are telling us the truth, you are doing some things right--and/or maybe some things very WRONG. Like flogging loads of disastrous high-commission high-risk low-value FFIUL policies to your trusting and uninformed client-victims. Some of whom are likely friends and family who trust and even love you.

And for what Roseville Anon?

You earn less than minimum wage to massively screw your fellow human beings. Including they who should be near and dear to you.

Roseville Anon you say “***!I think i don't know the right kind of people to do this.” Let’s hope so! Let’s hope the people you know are smart enough to see through the toxic garbage you try to sell them.

If I were you, Roseville Anon, I’d want to leave WFG too. For more than just your base and venal reasons that you tell us, that you can't make crazy money and you don’t have access to a big enough victim-base.

Roseville Anon, I left WFG because it was the *right thing to do.* I could no longer stand tricking and abusing other people. I needed to stop hating myself.

#1188212

How does the company pay you? Direct deposit or in cheque form? Can you show us a proof of the money you made of 6,000 plus in 4 months.

#1188145

I'm also in WFG in Arizona... Not sure why you have spent $700.

Honestly, this is all about you. If you want to be lazy and scared, this business isn't for you. If you made $6,269 and you've only been in the company 4 months, why are you acting scared?! You are proof that this company works.

Hello...

are you blind? Don't write bad review because you're lazy!

#1188262
@PissedConsumer1188145

Lazy and scared is the simple man's accusation that this business isn't for people. I'm sure this person is more than willing to do the work (majority of people don't mind working hard for the money) and they have to right to make this review if this is how they feel.

And don't start by lumping the majority of hard working people with the ones that are actually lazy. If that many people are truly lazy, our unemployment rate would be much higher (and don't use the bs unemployment statistic that includes those not in the labor force due to being students, elderly, disabled etc).

However it brings up the question on WFG's business model and how it works. You can say that it "works" in the sense they are making money, but it hardly correlates with how much WFG claims you can make especially since this anon thought "i would have made at least 50K because they say it only takes 1 client a week to make 100k by your self".

This is the duration of 4 months. To continue, you make $6,269 like it's a lot of money, but when you divide that by the 4 months they've been with WFG (assuming they make a constant rate for the purpose of this example), it's only $1,567.25 a month which isn't making that much and average at best compared to many other jobs. I'm not accounting the $700 cost since the anon didn't describe the exact purpose of it; if it's a business cost or just paying for daily things is important to know before calculating if its a fixed or variable cost toward their salary. And assuming they make this amount of money at a constant rate for a year, they'd be making only $18,807 and this is before calculating for any taxes.

Then you also have to account that this person more than likely needs to spend money on basic necessities such as food, shelter, and various bills such as electricity, water, and car so that means they wouldn't be banking the whole $18k into their savings. By this account, the amount of people they'd have to sell to needs to be drastically higher to even meet their expectations and/or they'd have to be incredibly large accounts. Most WFG branches target low to mid income families that can hardly pay for large accounts such as the one that pays 40k commission.

Then we must consider that many of those clients have a high rate of dropping their plan within the first year, causing commission chargeback. Whether this person chooses to stick with WFG is more power to them, it's their choice, but I write this review to point out flaws in your statement as well as point out some important aspects that WFG fails to meet.

#1188270
@PissedConsumer1188262

Also I forgot to include that with those numbers, again assuming the constant rate of income, this person is making the average salary/pay of a full-time employee that makes $9.80 an hour. Again this is assuming this anon keeps the rate at which they are selling at the moment.

Of course if they sell more, they make more. There's no denying that since it's commission based, but again you can also cannot deny that to ever reach their expected goal they need to sell high volumes of plans or high-value accounts and have people keep their said plans/accounts. If they want to make 50k at this particular rate, they'd need to sell over twice as much to double their income. Finally I forgot to point out that you can also state that the anon would receive passive income from their recruits and make more, but since the anon did NOT state the number of their recruits or "team" as WFGers like to call it, then one cannot account this unknown variable.

Even assuming that they do have recruits, judging from their numbers, the recruits aren't making much or anything. Why do I assume so much on numbers you might ask?

Simply because there are limited numbers to go on and many unknown variables like # of recruits and size of accounts etc. Like I said before though, if the anon wishes to stay with WFG, more power to them but I'd still like to exercise my scrutiny over WFG.

#1188320
@PissedConsumer1188270

*Correction on my part: I apologize for the slight miscalculation as the anon stated they made $6,296, not $6,269. Using the same calculations as above, that means if they we're making a constant rate of sales each month, then they're making $1574 per month, $18,888 a year.

They'd be making the equivalent of a full-time employee that is making $9.84 an hour. That is before calculating any taxes and their $700 cost. Like stated before this is based on the numbers given, and does NOT include possible unknown variables such as # of recruits and varying size of accounts and sales made by said anon. Nonetheless given the anon's situation, one cannot ignore WFG's business model and its claims as it seems to be anything but what it says to be.

I could go on with more levels of scrutiny about WFG such as why many WFGers can't properly answer technical questions about their own products (ex. different fees and rising costs in late life etc), but at the moment I will save that for a later point in time as I address other things.

#1188672
@PissedConsumer1188262

Personally, I after licensing, I made $14,000 on my first close. On my second, I mad $6,000.

One month two clients. WFG makes those claims based on what people have actually made and what's typical of clients. But they tell you that you don't have a client every hour because that's the truth. I don't have a client every day.

I have 2 every 2 weeks because that's works for me.

Like I said it's about the person. It's really not complicated.

#1188693
@PissedConsumer1188672

Phoenix Anon, what is your full name and contact info? What office do you work out of?

What product did you sell that you tell us earned you $14k in one closing?

Thank you.

#1188707
@PissedConsumer1188672

It isn't about the person though cause like William3 stated on this page, a large majority of WFGers make less than $200 a month. And you know what, maybe happy go lucky you, seems like you hit rare but large accounts.

However, isolated incidents do not make the majority so personal stories like yours do not cover the majority according to the numbers. But the fault is WFG makes the exact same claim to almost every recruit like the Roseville anon had and yet their general market is LOW to MID income families that simply cannot afford large sum plans. How hard is it for those numbers to work out in your head? When the majority of buyers are vulnerable low to mid income families who simply cannot afford this risky IUL plan, they are more likely to buy low value plans and even then have a high rate of dropping the plan within said year.

That means said agent would make less and work more. People typically don't strike high commission sales especially starting fresh; you think low to mid income families have that much cash to buy pie in sky priced plans? They're safer making investments in low cost S&P 500 funds for the amount of money they have. To go on the advertising and its claims, WFG advertises that anyone can join and do this business and make lots of money yet being a simple process anyone can do.

Have some critical thinking Phoenix anon. I've been in the business, but the numbers aren't being replicated by the majority. A system, a trial, a method, etc has to be able to be sufficiently replicated if it truly works, but this isn't the case for the large majority of WFG recruits. Please look on this site for William3's reviews because he goes into exact detail from the WFG business model to the ***-out and retention rate.

He goes in much more in-depth analysis of what I'm telling you and also provides source material in which it'll be repetitive of me to simply state again in this comment. To give you some of his work for a good read, his May 25 review **World Financial Group - Are You Really "Your Own Boss?" Do You Truly “Own Your Own Biz?” Closely READ and *KNOW* WFG’s Contract Before You Sign It** and his May 18 review **World Financial Group - 10 Lies and Misreps That WFGers Tell You--And Themselves** But to continue, then when people get washed out at high rates, WFG turns their back and say "this business isn't for everyone". And not only that you say "But they tell you that you don't have a client every hour because that's the truth" contradicts what the Roseville anon stated in their second sentence...they only expected 1 client PER WEEK not every hour and expected to make 100k? Unless they pull extremely large accounts out of high rolling buyers like you do, then they simply won't meet that pace.

You continuously try to oversimplify, but no business is truly that simple. WFG is making these grandeur claims and yet it's not working for a large number of their agents. And like I said, personal account does not apply to the majority. I can say I had one bad experience with a cop so therefore all cops are bad.

But are the majority of cops really bad? According to the numbers and collective majority, no. Come back when you can make a detailed argument with no personal accounts and actual calculations, source material and numbers like William3, EndMLMAbuse, and the anon named Liquid. Oh and why am I not stating numbers within my own comment?

Very hypocritical right? Well, I already stated some simple calculations above given what Roseville anon provided and like stated before, William3 made an in-depth analysis that would be repetitive of me to state again here when you can simply read for yourself and hopefully provide a decent argument. Also other example sources are www dot finance-guy dot net/streetonomic/world-financial-group-review ------------ethanvanderbuilt dot com/2015/08/03/wfg-scam-yes-opinion/-----------www dot ivetriedthat dot com/2014/03/10/transamerica-wfg-primerica-what-do-these-businesses-have-in-common/ that give really in-depth analysis of what WFG is. "I'm being biased so oh of course you pick those articles." I guess you can say that but think of it more like a debate and I'm providing reasons why.

Additionally, the reason I selected some of those sites is due them going into in-depth detail for the most part. I have also looked at WFGers reviews and analysis (yes I read the opposition's comments), but they either have little to no detail other than spewing how great it is in simple sentences or just embellishing it in a really long paragraph without telling me an objective reason why. For example, if the IUL is so great, why would the cost of insurance (COI) be so high if I plan to live a long life? There's a recently posted review on this site today I believe is called "World Financial Group - Why the FFIUL--WFG’s Flagship Policy--is a *Disaster*" in which they posted COI for each age and how much you pay as you get older.

The dissenters tell me more on this than you do on anything. While sites like this can also be good, you would have to really dig and search so again that's another reason why I selected some of those reviews/analysis to start.

And I would really like it if you calculate ALL the costs of fees like COI and show me how in any way WFG's plans are good. I believe there is a commenter on that same review so you can perhaps make an example out of that one.

$80 a month, 250k plan, and lets say they are currently...idk 30 and plan to live a really long time so about 85 for a reasonable lifespan. And perhaps they remain in good health for the most part and make an income of lets say $50k (for an avg middle class considering current inflation and wage rates) since 30 and since most people retire by the age of 65, they'll retire at 65 and live off what they saved.

For simplicity and perhaps some realism they only bank $25-30k (make your pick) due to bills, misc payments, and taxes each year and no other source of income. Show me how would they be able to keep their plan.

#1188799
@PissedConsumer1188672

Here we go again...Another anon from phoenix arizona WFG agent that made tens of thousands of dollars in mere weeks and needs to tell us that but can't explain or defend one policy with FACTS...

it's like myself telling you I made 1.25 million combing the ditches and selling empty beer cans...oh I just did tell you how much I made..doesn't make it factual thow!!

Oh i'll also tell you my name.....it's anon from anon and I work hard..900 miles of ditch combing a day and 22 hour days for my family and help other families by donating 98% to charity.Do I bragg about my income and working hard...noooo...well yes I just did and the sole purpose of telling my numbers isn't for recruiting purposes with rosy outcomes,rainbows and unicorn senarios....well maybe it is!

Same MO...always with the... I made this or that with no proof while not answering any questions on financial products with hard facts!!

#1188851
@PissedConsumer1188672

Phoenix WFG, yer fulla *** you pathetic troll. Not too smart either.

I saw your stuff here like --I have 2 clients every 2 weeks because that's works for me. Cmon whoya think ya kiddin? I know some of these desperate losers. They try to rope you in anytime anywhere sign ya up, sell ya garbage.

So sad.

Guys you’ll never hear from this noname chump.

He makes a cr*p company look worse. Save yerself trouble stay away.

#1188885
@PissedConsumer1188672

Phoenix WFG Anonytron, please allow me to say, it's a fantasy world you spin for yourself. I hope you see your made-up world *is* for yourself.

What you tell us--pardon me for being blunt--it’s patently obvious nonsense. But Phoenix I understand that doesn’t matter to you. It doesn’t matter what we think. You need to read your own words and pump yourself up.

I do get it.

Phoenix Anon, I asked you for your ID and contact info yesterday. We haven't hear back from you. And we won't. No big shock there I'm afraid.

You and the legions of WFG Anonytrons lurking here and making fantastic claims--you all remarkably consistent that way.

What's disturbing Phoenix is that you and many of your cohorts, you may have started out a decent person with good intentions. Then the WFG system sucked you and found you “coachable” enough to push you down the slippery slope where you totally lose your moral compass. I’ve seen it happen very many times.

I went down that slippery slope too. First it’s all about “live your dreams.” Then it’s “fake it till you make it.” Finally it’s “tell lies all the time to yourself and others 24/7.” Phoenix I've been there and truly feel for you. Like you I was a lost person who was so lost I didn't know I was lost. I wish you the very best of luck for you to find yourself again.

I know from experience Phoenix--you *will* need all the luck you can find. You, your psyche, sit at the bottom of a profoundly deep hole. The dim light you see way at the top seems so far away. Sure, you can distract yourself from it during the day.

But it disturbs your sleep and makes you wake up in the morning fearing for your own soul. Phoenix, I know that, deep down, that can be deeply discouraging.

Phoenix, please reach out to us here when you need it.

We will help you however we can. Take care and please know we are thinking of you.

#1189694
@PissedConsumer1188145

Proof that the company works? He doesn't want to recruit people because that's his choice and he's not comfortable reading from the *** script the trainers give him.

Ya it's so fun saying phrases like " Hey I'm doing this new thing and I thought of you so I want you to come check it out", then when they naturally start asking questions you have to be secretive and tell them to " just come to this address and I'll explain more". Saying stuff like that implies that you're trying to set that person up for a scam! Stop supporting this disgusting company!

Working at McDonalds is more fulfilling than this cult! Condescending people like you are the reason this company will burn one day!

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