I feel the need to write a blog about World Financial Group, WFG. After coming across a lot of criticism from people I know and from reading plenty of negativity over the internet I would like to put things from my perspective. Afterall, if someone has a bad experience with something they'll tell 10 friends - if they have a good experience they'll tell 2. My aim is to reverse this. If I tell of my good experiences, maybe others will too. I've been a client since 2011, and a licensed Agent since February 2015.
WFG is a pyramid scheme. Right, well first of all pyramid schemes are illegal. They are based on false promises in exchange for money. If anyone has ever done Real Estate they'll see where the basic model of WFG comes from. In Real Estate you pay the Brokerage to work for them - for the branding/image/name. Your broker will also make a cut off of every sale that you do. Is this a pyrmaid scheme then too? If you go and start a landscaping company and get paid $50 for each lawn that's mowed- but pay someone $30 to mow that said lawn and pocket $20 - is that then a pyramid scheme? In WFG - your uplines get paid off of your sales because they are training you, molding you, guiding you and doing plenty of your early work to get you to the level where you get more of the commissions in your own pocket.
I've read in places that WFG agents get paid for recruiting. We don't. We are a brokerage of financial services and we get paid by the product partners when we sell or refer a product.
WFG is MLM finance. Really?? MLM? In MLM (tupperware, scentsy, etc) you pay for products that you then distribute. In WFG we pay for a government regulated license to distribute products from insurance companies, investment companies and banks. We work out of a brokerage. Is mortgage brokeraging MLM too then?
From the client perspective I've read a lot of different information on the Internet - some people (mainly in the US have spoke of bad experiences where they didn't understand what things meant, etc). Ultimately if you look at the banks - TD, BMO, Scotia, etc - everyone will have one they're loyal to, one they hate and one they know nothing about. Generally, that would seem fair. Why do they hate one of those banks? Was it a personal experience with an individual, or is it the model of the company? Even the one that they're loyal to - are they loyal because they haven't pissed them off and they have no real reason not to be? They haven't exactly done anything remarkable for them - but they're loyal nonetheless. I'm happy to show my statements and my returns and how my investments are working for me, because of WFG. Not because of TD, BMO, Scotia or any other 'bank'. People will blame anyone else when things go wrong. When they lost their house, when they declared bankruptcy, when they made a bad investment decision.
WFG is different by design. You have to be mentally tough to pursue the career - or be willing to become mentally tough. There is constant criticism, mostly from the competition or from people who tried it and never made any money at it. Criticism from people who don't fully understand it - but because their friend or family member said "pyramid scheme" or "MLM" or "run", they listen to that opinion. It's easier than doing some research and deciding for yourself.
Reviewer is in unhappy mood. Please immediately contact the author of this review to discuss other product. World Financial Group needs to read this review and look into the issue (if any) according to poster's claims.
Other people also mentioned other product in their reviews. You may find this information helpful for further shopping at World Financial Group.