Buy *nothing* from WFG. The only thing this company is good for is wasting lots of your time and money. IT IS A SALES JOB! Many will say thats not that much money, and for those you are fortunate. I work with clients, business owners, and I have a very few family members in my book of business. Second, I want to clear the air about WFG and its parent company, AEGON - they are legitimate businesses, and we have the FEWEST complaints in the entire securities and insurance industries. Plain and simple. 524.4k Followers, 1,483 Following, 1,349 Posts - See Instagram photos and videos from Eric Christian Olsen (@ericcolsen) Eric has 2 jobs listed on their profile. OK, this is my experience with this sham of a company. I hate to be condescending, but alot of these guys looked like they came right off the street and WFG was welcoming them with open arms. You will be automatically registered on our site. * Before you sign anything or give WFG a dime, make sure your agent gives you *complete* docs to take home and thoroughly read over. Mornin John--merci mon vieux. Contact Review Author as Verified Representative, Business Solutions For Verified Company Representatives, Pissed Consumer © 2020 All Concord. I learned about the business by asking questions and seeing what they had to offer. I submitted my resignation letter from WFG, but I was charged platform fees for $125. I have seen the SAME coming from select quote and them trying to UPSELL and provide wrong products for people. This Company doesn't need to sell insurance at all. I made more money in a week in a regular 9-5 job than I have made all 3 months at a MLM WFG. But then I found out later on my clietale is based on who I know because through my training process i would be required to make a list of people i would like to practice with old friends, etc. I noticed once I started asking for it back that they became much more unresponsive to their e-mails. I don't know about you but I would rather earn money than some WFG points. Life insurance is very important, and I strongly believe in it. With WFG, they expect you to pay for trainning on your own plus a $100 administrative fee and you don't get paid for your time. You may work hard and put a lot of effort into recruiting and coaching your team members, but they may not be as dedicated or as skillful as you are. Also if people don't know anything about investing, why would someone buy from them? 2 month ago, my favourite Aunt reached out and told me that there is a wonderful business opportunity. One last thing. I know I will not be able to sleep if I blindly lure people in, and if I sell products that my clients don't need. What they want is more and more customers. It seems to me there's a lot of people who don't take responsibility for their own actions. I was introduced to this company through a co-worker about a month ago. He may have made some mistakes and perhaps may even be a Jerk. Are there any actions from the SEC or any state agencies pending against them? And that was supposed to be a mentoring session. I worked hard to pass and put my business degree to work. It is true that in order to make a lot of money you have to spend money, I'm just not in the position to do that however. i dont want to cheat anyone out of their money. But it's not free. No one will ask you to do anything you're not comfortable with. 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. HUGE red flag. as well as getting into the 401k market and wealth management side of things. 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. Instead of running for the hills every time an agent contacts you, at least sit down with the agent to see what they have to offer. By all means go to their orientations and make the decision for yourself, but at least now you know what to expect. Before you ask your agent for his calculator math, do your own math first. I have their policy for 15 years now and I am getting returns much higher than promised. Individual Life Insurance Persistency — Observation Years 2007–2009 - Universal Life”. Recent recommendations regarding this business are as follows: "Not recommended", "You wont get no one … in fact as a PhD professor I meet with clients and spent a LARGE amount of time educating people to the pros and cons of every investment and provide options so they have choices... UGGG and shame on whoever it was you worked with.. Lived In Altoona IA, Ankeny IA, Fort Dodge IA, Henderson NE. Google “Haro 2016 Momentum” and go to 1:00 of the 5:22 vid clip that pops up. Actually, I remember now, some years ago a girl I worked with at the front desk of a hotel tried to get me to sign up WFG. That means spending money. Now, they have a LTC rider that comes with the FFIUL. Most of the WFG big cheeses I checked have items on their record, including Jeff Levitan, Pedram Mehrian, Dan Charlier, John Shin, Ed Mylett, Penney Ooi, Eric Olson, Alec Chan, and Paul Hart. Go to “brokercheck dot finra dot org” and search on the names of some of this MLM’s higher flyers. A staggard staged term life strategy by investing the difference can work. They want to make $ off of you and your friends and for you to RECRUIT more people into their organization just like any classic pyramid scheme. I'm confused. This is erroneous. So look before you leap with these folks, It is an unconventional company in many ways, but I'm sure you could make some money selling financial planning with these folks if you put your will to do it. Thirdly, I was told constantly that if I recruit enough people, I will be making 6 figures without needing to sell anything. They use company is like a voy World financial group is far more than just Transamerica… Do your homework and find that they are the brokerage firm that has over 100 different companies that they provide opportunity for clients to have the best fit products… In any organization you have an apple or two that might be bad… However the vast majority of people that are in world financial group specifically are looking to help people have some type of investment quality insurance. They have a reputation to uphold themselves. Do you honestly think companies such as Fidelity, Voya or Nationwide would want to be associated to a company that scams people? I joined the company after seeing for myself what it was capable of. I asked if I would be charged for the background check if I didn't end up getting the job or if i didn't accept their job offer. Which is understandable as well because I knew nothing about the business and would have to learn everything. hmm... i ponder. 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. Because, when you have your first face-to-face with a WFG rep, they ask for your credit card number information to the tune of $100. San Jose. I am not so well informed of WFG but got my FFIUL anyways from transamerica and have been very satisfied. I know one thing deeply, if my financial advisor hadn't approached me in gym 2 years ago, I had nothing today. I get to the offices in time for my interview and come to learn its not really an interview per se but more s an orientation about the company. San Bruno. Rep. guy not happy he reply to me then you are not ready to make some $$$ and I told him I am making money on something that I am familiar so I basically told him if is not my way I can continue and he said that it was fine if I just wanted to continue going. WFG agents sell you inferior and even harmful products from the woefully under-regulated insurance industry. i have gotten my license and i will let you know if the money really does start to roll in. So 4 gentleman one after the other spoke to a surprisingly large group of folks here. The pay comes in selling these services to people. Register ©2020 Oliver Publishing Inc. Log In. My rapists also works at this company. Haro’s still very much part of WFG, still speaking at Momentum, WFG’s main yearly convention in Las Vegas. Includes Address(11) Phone(4) See Results. WFG is a business. Financial professional really!?...”. My advice is to not be impulsive, but to step away from the 'energy/hype' and just think about it. If you want good financial/ life insurance products, go to big names where well trained and well established services are available. So while one office does not so well the other does great. to keep recruiting and send the untrained reps out there. By clicking Submit you are agreeing to the Complaints Board’s Terms and Conditions. What kind of advice would we be giving if we wanted you to sever your income on a promise? @#$% them. You buy a Mercedes and haters will say they are a piece crap car and that they are way overpriced! Stop misleading people. Everyone seems to truly love each other and their jobs and that is an extremely rare find. Playing next. Now, there are some bad apples in the bunch who are deceptive. They used company is like a voya and nationwide and Pacific life… In fact voya Financial company was voted the most ethical financial services company in the United States… They are fully affiliated with world financial group… All of these companies including open Heimer fidelity Putnam MetLife Prudential John Hancock are all partners with world financial group…. This'll be eye-opening reading for some people. Others are civil, including one lien/judgment for close to a million dollars. Private messages do not impact your company rating. The overall rating of the company is 2.1 and consumers are mostly dissatisfied.. Not all local offices are certified, but that's a respectable number. This did not seem to bother WFG. i think i have found what i love doing. Secondly, recruiting practices should be set so that not everyone and their brother gets recruited. I went to the presentation, met the rep who called me, filled out the application, and stupidly signed for the $100 authorization. Well the list goes on and on with people who do not agree or like companies or products--but for all the people who do not like there are millions of people who like, enjoy and have made money for their families. Hense the concept of the IUL and the use of the 7702 IRS rules. AEGON backs them. Why pursue a WFG business? A few of these include former, pending or settled criminal charges, including sexual assaults and theft. Nowadays, the cost of long term care is so grave as not every thing is covered by your health insurance. My friend got tired and did not remember what the rep said. And as far as the meetings are concerned you dont have to attend a single one. Some people hate it! This was a HUGE red flag. Thank You for Your Reply! I feel like her "friend" took advantage of her weakened state and sold her into some packaged dream with tiny fine prints. Tuesdays ok, but Saturdays were strange to me. I wont sit here and bull ### anyone on how hard it is to do this business. Remember this: where there is smoke, there is fire. It seems that you'll be in $1000 or so before you're ready to really get going. In a normal 9-5 job, I didn't have to pay for my own trainning and got paid for my time which is nice. I do not believe that is the companies fault--morals and character or parenting are responsible for that behavior! I am sorry you feel that way with WFG, but I cannot agree with you on this. 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. Obviously I jumped at the opportunity after hearing such great things from my co-worker. Our Offices. Second, Transamerica and WFG depend on the vast majority of their customers to drop their FFIULs. you will never know how far something can take you if you DONT EVEN TRY! The cash I have invested into it actually grew. Does this model work for everyone? I'm not sure. No it's not to good to be true. Includes Address(6) Phone(12) Email(5) See Results. In his “review” last week San Diego Anon oozes about “...a beautiful lifelong career…”. Username and password will be sent to you via email. 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. Later, he called my mentor to follow up the contract, but nobody from the rep's office responded. The people in the company are extremely friendly, that is undeniable. I explained to them that no one I know of would be interested in these services but they still persisted stating that I would at least get some practice in so I agreed. Red flags, galore. I was not sold a terrible product nor was I even considered to be a potential recruit. It takes a strong willed guy or gal to do a sales job to begin with let alone run a book of business and deal with a persons life savings. 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. The savings account trend they point out (-2%), the massive credit card debt, etc., all need to be addressed. Because were keeping them open with all those $100 BILLS. 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