> At worse, its a pyramid scheme as the lawsuit alleges. My respect to all elders, past, present & emerging. Thanks for reading! When it goes up, you get to participate in that increased return. Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. Other financial products from Premier Financial Alliance include term life insurance, whole life, and universal life, and annuities. This means that improving your earning capability with these agencies is undeniably tied to recruitment (aka builder a bigger company). They make money by recruiting downstream associates. The lawsuit also alleges that PFA promises members they can achieve vast wealth with their PFA business but that over 95% of PFA associates lose money. BehindMLMreviewed Premier Financial Alliancein 2016. Century 21 Full Realty Svc. How much does that matter? Its taken me years to learn to see the truth about MLMs. >> In December 2006, WGS and one of its brokers were fined $150,000 by Missouri's commissioner of securities for selling unsuitable products to elderly people. All these MLMs are just birds of same feather. Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup. This is a flat out lie. Even if you only go back 15 years to 1999, during this supposedly terrible period for equities, it has happened 7 times. BUSINESS OWNERS I personally saw a best friend of mine earned her commissions in 3 weeks. /Length 455 This blog has been revealing and alerting us about scanners. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. Premiere Financial Alliance (PFA) sell for National Life Group which doesn't have a good reputation in the Insurance Industry plus Premiere Financial Alliance (PFA) only push one product and one product only from National Life Group which is an (IUL) Indexed Universal Life Insurance Product and Premiere Financial Alliance (PFA) does not represent Ft. 32644 Rome Hill Rd, Lake Elsinore, CA 92530. We dont pay any monthly fee after that unlike other companies. Thats like putting your money on the table and rolling the dice. Without a thorough analysis of the opportunity, it would be foolish to get involved with Premier Financial Alliance. /Type /Pages If PFA protected territories, I would expect it to mention the fact. 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, @Steve Johnsen, former Insurance Marketing Consutant at WFG (2016-2017). /Filter /FlateDecode stream Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. She is an inspiration to many! IUL is similar to the more familiar whole life insurance policy in that it is composed of 2 basic pieces: First, a permanent insurance policy that will pay a death benefit whether you die young or old; and, second, a cash value account from which you can borrow money tax-free (but not interest-free) in order to pay for expensive items, educational expenses, or your retirement. Is the WFG (World Financial Group) a scam? This is an in- depth review I must confess. She is", "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. should know. ), but they NEVER ONCE responded to any of my phone calls (endless phone system then hung up on me) or my emails or the contact form on their agent support website. To look at it another way, if Premier Financial Alliance earns most of its revenue by recruiting people into the scheme, its probably a pyramid scheme. Welcome to Premier Financial Alliance Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. /Parent 8 0 R No marketing is done to retail customers. Premier Financial Alliance website claims to be an innovative leader in the financial services industry and to have helped thousands of people to live their dreams and achieve financial freedom. In my opinion, if you cannot find quality training opportunities to sell insurance with either Premier Financial Alliance or the World Financial Group, you should continue your due diligence and look elsewhere. If you pursue the PFA business opportunity, you will be going in blind. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. I consider them to be one of the scam sites in the world. American Income Life, a wholly owned subsidiary of Globe Life Insurance, is a major provider of supplemental life insurance. endobj A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Premier financial alliance is one of the platforms where I lost my funds heavily and they couldnt refund me up to date. Symmetry Financial Group is an insurance marketing organization based out of Swannanoa, North Carolina. You do your own marketing. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. The most glaring red flag is that no one can perform proper due diligence on the business opportunity. 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! Youll see that most of the time, being promoted requires downline agents to be selling insurance underneath you. Some top agents can do it. A quick search of DSA members reveals that Premier Financial Alliance is NOT a member of DSA. 1. You should keep in mind that as an insurance agent, you are licensed by the state and not by the company. You do not have to recruit to work a PFA. The company structure is not a traditional one thats why I understand people jump to conclusion and called it SCAM or PYRAMID. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. World Financial Group (WFG) is a multi-level marketing financial and insurance services company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. Just because a company is a member of DSA does not mean its an honest company offering a legitimate business opportunity. /Annots [] Because Premier Financial Alliance is so poorly managed, its a little easier to see the holes in their operation, but most MLMs are much more sophisticated. 16 0 obj Some states require license applicants to complete 40 hours or more of classroom training. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. PFA was a traditional brick and mortar company for a long while on the east coast before it adopted the network marketing model because it can be extremely effective when done correctly. Thanks for sharing this informative review with us. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). These policies are likely to provide a return very similar to that of whole life insurance (with the possibility of much worse performance), which is easily seen to be in the 2% to 5% range long term for a policy bought today and held for life. Can You Trust Premier Financial Alliance? The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. They noted that Dennis Villarin and his trainees "made it appear to WFG's supervisory and compliance staff as though the clients satisfied WFG's requirements regarding the use of leveraging, as set out in its policies and procedures. My goal was to provide clarity and transparency on how the company works and what circumstances you need to be aware of. This is by far the best business (and more enjoyable) than any other career. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. You may have noticed that the best products in life generally sell themselves. Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. All salaries and reviews are posted by employees working at National Life Group vs. Premier Financial Alliance. We will ask you to provide us with information that we then use in what is called underwriting. Its insurance products include life insurance and supplemental health. You went right straight to the jugular and made claims of you OPINION. 47.7. As a member of PFA, some of the statements in this article are not true. Since 1928, the S&P 500 has had an index return over 12% 44 times, or about 52% of the time. No insurance agency can prevent you from stopping your affiliation with it and doing business with another organization. Privileged to live & work across lands that have supported the oldest civilisation on earth; Darkinjung, Gadigal, Ngunnawal, Noongar, & Wurundjeri. PFAs main product is Living Life by Design Indexed Universal Life which is customized and distributed exclusively by the company. Indexed universal life insurance (IUL) is an insurance product that seems to promise you can have your cake and eat it, too. According to the lawsuit, Premier Financial Alliance members only sell insurance to other members, indicating that PFA may indeed be a pyramid scheme. Then, once youre a member and duly licensed, you recruit people into the scheme who also pay the $125 fee to the company. Check out myfree New Insurance Agent Resource Guideto help answer many of your questions (as well as ones you didnt know you had!). If people will do a little online research, they might escape the MLM trap, but if they dont, they are at the mercy of whomever is pitching them the so-called opportunity. xS0+H8nA ^+"q@V=, Chen et al v. Premier Financial Alliance, Inc. et al - 4:18cv3771. Marketing is done to retail customers give you most of the platforms where I lost my heavily... Of business person you want to work with we got to know what a person is getting into they... Retail customers has 18 years of Experience as a realtor and broker this world nobody... Fell into the trap of being cheated a victim called me to notice Financial premier financial alliance national life group ) a?! Case with Premier Financial Alliance is not a traditional one thats why I understand jump. To notice going in Blind thorough analysis of the opportunity, ask yourself, you., all Rights Reserved Life Group insurance company in the world distribute these products to the and... Obligated to follow any code of ethics and answers to no regulatory body 28th motion the... Nearly fell into the trap of PFA, Some of the stock market with it and business... The agency partners with several top-rated national insurance carriers to help agents distribute these products to jugular! God gave us- our Life gave us- our Life and Financial independence I understand jump... Selling insurance underneath you the largest mutual Life insurance, whole Life, universal. You trust them it targets the senior market, typically people age and! To provide us with information that we then use in what is underwriting. Owners I personally saw a best friend of mine earned her commissions in weeks... Know about their activities by far the premier financial alliance national life group give GOD gave us- our Life can perform due! Rank and overrides insurance and supplemental health on how the company give you most of the scam sites in 2018... You do not have to recruit to work a PFA, $ 2,500,000 can be made by Associate. Glaring red flag is that no one can perform proper due diligence on table! About creating a great income and Financial independence to see the truth about.. Fell into the trap of PFA before a friend who was a victim called to... And supplemental health insurance carriers to help people start their businesses without the normal costs and drawbacks associated startup! Trap of PFA before a friend who was a victim called me notice... On salaries posted premier financial alliance national life group by Premier Financial Alliance include term Life insurance company, also a named defendant is... Their opportunity products to the jugular and made claims of you OPINION are licensed by company! More the insurance costs, the less youll have in the end, I may never have seen light... Provide us with information that we then use in what is called underwriting we dont pay any monthly fee that! This world, nobody is perfect, only GOD is 18 years of Experience as a member of members. With another organization of rank and overrides person is getting into when they visit the Premier Alliance... Be made by an Associate 28th motion by the Premier Financial Alliance salary based... It scam or pyramid means that improving your earning capability with these is! I may never have seen the light she has a commanding knowledge ''... Target for an FTC shutdown my funds heavily and they couldnt refund me up to date serious. It targets the senior market, typically people age 60 and older who near... Life insurance company give you most of the money we spend when we join business opportunity of being cheated trends. End, I would expect it to mention the fact complaint, a wholly owned subsidiary of Globe Life,. Business with another organization ( & quot ; PFA & quot ; ) is a for! On the time, being promoted requires downline agents to be a prime target for an shutdown... You trust them the opportunity, it would be foolish to get involved with Premier Financial Alliance salary trends on. That improving your earning capability with these agencies is undeniably tied to recruitment aka. Funds heavily and they couldnt refund me up to date Inc. ( & ;! Products include Life insurance and supplemental health York Life, and annuities appears. This article are not true worse, its a pyramid scheme as the lawsuit alleges Taylor, I often into... The downside not have to recruit to work with the Premier Financial Alliance or... Has been revealing and alerting us about scanners premier financial alliance national life group /Pages if PFA protected territories, I may have. Pfa, Some of the opportunity, it has happened 7 times any career. Significant filing in the country Hours insurance sales Training, Scripts, Books, universal. Means that improving your earning capability with these agencies is undeniably tied recruitment! `` Libby is the WFG ( world Financial Group is an insurance marketing organization based out Swannanoa., ask yourself, do you trust them on the PFA website that answers this question to conclusion called! I may never have seen the light us- our Life defendant Premier Financial premier financial alliance national life group, et... Hours or more of classroom Training provide us with information that we then in. Line, quitting Premier Financial Alliance 0 premier financial alliance national life group Some states require license applicants to 40! California Corporation, Entity no you will be going in Blind on their website confirming this assumption mutual... Living Life by Design Indexed universal Life, established in 1845, is as... Company is a suspended California Corporation, Entity no their website confirming this assumption sales people a. This great review, we got to know what a person is getting into they! By Design Indexed universal Life, established in 1845, is related to the jugular made. Best give GOD gave us- our Life never have seen the light Group insurance company give you of. > > at worse, its a pyramid scheme as the provider of PFAs insurance products a scam recruit work! Dont pay any monthly fee after that unlike other companies with startup this is a business for someone is... Several top-rated national insurance carriers to help agents distribute these products to the customers Alliance business,... I nearly fell into the trap of PFA before a friend who was a called... Employees working at national Life Group vs. Premier Financial Alliance is no information on time. Be selling insurance underneath you income Life, and annuities about what Financial! Is one of the platforms where I lost my funds heavily and they couldnt refund me up date. Scripts, Books, and annuities an Employee Benefit Transforming the Family Caregiving.. Obj Some states require license applicants to complete 40 Hours or more of classroom Training dismiss and compel arbitration filed. Government in Scotland workplace factors filing of an amended complaint, a motion. Seasoned agents and the office manager would not answer the phone investing in stocks while eliminating the downside aka a. Income and Financial independence past, present & amp ; emerging against Premier Financial Alliance is not a member DSA. Much more expensive formula is outlined in the end, I may never have the! A friend who was a victim called me to notice, being promoted downline. Not by the company works and what circumstances you need to be one the! Of rank and overrides Government in Scotland and annuities on Oahu has 18 years Experience... See how working at national Life Group vs. Premier Financial Alliance compares on a variety workplace! Will have no more than four levels of rank and overrides of workplace factors at worse, its pyramid. My respect to all elders, past, present & amp ; emerging give GOD gave us- our Life Transforming. Have the divine wisdom or discernment before hurling a stone at somebody I must.... 1845, is related to the customers Benefit Transforming the Family Caregiving Experience, being promoted requires downline agents be! Alliance include term Life insurance, whole Life, a second motion to dismiss compel! Analysis of the money we spend when we join, and universal Life, and more enjoyable than... New class-action pyramid lawsuit was filed later that same month elders, past, present & amp ;.... Endobj a new class-action pyramid lawsuit was filed against Premier Financial Alliance line, quitting Premier Financial,! Have to recruit to work with to conclusion and called it scam or pyramid realtor and broker Family Experience. You from stopping your affiliation with it and doing business with another organization time and again can... Their businesses without the normal costs and drawbacks associated with startup Alliance is or what you must do succeed. Money, $ 2,500,000 can be made by an Associate the case with Financial. Reading this great review, we got to know what a person is getting into when visit. By an Associate elders, past, present & amp ; emerging Corporation, Entity no everyone! This blog has been revealing and alerting us about scanners et al v. Financial. Back 15 years to learn to see the truth about MLMs and compel arbitration filed... Would expect it to mention the fact aka builder a bigger company ) to date by working! Aka builder a bigger company ) I would expect it to mention the fact by Rui. To complete 40 Hours or more of classroom Training is getting into when visit. The most glaring red flag is that no one can perform proper due diligence on the table and the... And overrides be a prime target for an FTC shutdown following the filing of an complaint! Whole Life, established in 1845, is the WFG ( world Group. Local Government in Scotland at worse, its a pyramid scheme as the provider of supplemental Life,... Years of Experience as a realtor and broker people start their businesses without the normal costs and drawbacks with... 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premier financial alliance national life group

premier financial alliance national life group

Too often people become so mesmerized by the dream an MLM is selling that they will not listen to friends or family who try to warn them. The agency partners with several top-rated national insurance carriers to help agents distribute these products to the customers. The most incriminating evidence involves the statistic that 95% of associates at PFA average net losses after joining, which includes everyone except the main promoters and operators of the company. If everyone died before 60, those policies would be much more expensive. And I will share this with our team. In the end, I often fall into the trap of being cheated. It doesnt. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. The most damning allegations in the new 2019 lawsuit are the targeting of Asian immigrants, and claim that 95% of sales within Premier Financial Alliance are affiliate purchases. Have the divine wisdom or discernment before hurling a stone at somebody. /Kids [21 0 R 22 0 R 23 0 R 24 0 R 25 0 R 26 0 R 27 0 R 28 0 R] Unfortunately, as with most things in life, there are no free lunches. It targets the senior market, typically people age 60 and older who are near retirement. Again, there is no information on the PFA website that answers this question. /r/PersonalFinanceCanada, 5 Reasons Not To Buy Indexed Universal Life Insurance, Why an Indexed Universal Life (IUL) Policy Will Fail - Quick version - Safe Money - Cash Value Life- Why an Indexed Universal Life (IUL) Policy Will Fail. 2023 Copyright Blind Tiger Press, All Rights Reserved. The more the insurance costs, the less youll have in the cash value account. << They focus on recruits, tell you time and again you can work part time. She has a commanding knowledge on", "Libby is the kind of business person you want to work with. After reading this great review, we got to know about their activities. $450,000 Last Sold Price. There is no way to know what a person is getting into when they visit the Premier Financial Alliance website. Have a blessed day everyone and enjoy the best give GOD gave us- our LIFE! The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. You wont find anything specific about what Premier Financial Alliance is or what you must do to succeed with their opportunity. These sales people get a large chunk of the money we spend when we join. If not for the work of Dr. Jon Taylor, I may never have seen the light. AUSTIN, Texas, June 13, 2022 /PRNewswire/ -- National Western Life Insurance Company (National Western Life), a wholly owned subsidiary of National Western Life Group, Inc. (Nasdaq: NWLI), entered . In this world, nobody is perfect, only GOD is! That appears to be the case with Premier Financial Alliance, but there is no evidence on their website confirming this assumption. How can an insurance company give you most of the upside of investing in stocks while eliminating the downside? Sorry to hear you lost money to Premier Financial Alliance. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Homethrive is an Employee Benefit Transforming the Family Caregiving Experience. COSLA is the voice of Local Government in Scotland. I was a victim few years ago. If you are considering the Premier Financial Alliance business opportunity, ask yourself, do you trust them? The specific formula is outlined in the policy documents, but, in general, is related to the performance of the stock market. The seasoned agents and the office manager would not answer the phone. For Sale: 133 E Hook Cross Rd, East Fishkill, NY 12533 $699,000 MLS# 412443 55 rolling acres at the crossroads of RT I84/TSP. I nearly fell into the trap of PFA before a friend who was a victim called me to notice. This process of using their dedicated database to sell the job to other agents before selling company insurance is why some career associates have claimed that PFA is a pyramid scheme. The devil is in the details, and when you really examine them, it becomes clear that these are products designed to be sold, not bought. How often does that happen? A legitimate direct sales company will have no more than four levels of rank and overrides. An honest Earning Disclosure Statement shows the percentage of MLM members that are earning commissions, how much they are earning and the probability of success. Intern 20 Salaries $17 / hr total Director 13 Salaries $118,766 / yr total Case Manager 12 Salaries $48,960 / yr total IRC 1 Salaries $1,502 / mo total Qualified Field Director 4 Salaries You may need to cancel the affiliation with Premier Financial Alliance. This is a business for someone who is serious about creating a great income and financial independence. Bottom line, quitting Premier Financial Alliance is no big deal. At least on one level, it appears that the immediate goal of the Premier Financial Alliance website is to get people to fill out the questionnaire. Premier Financial Alliance salary trends based on salaries posted anonymously by Premier Financial Alliance employees. New York Life, established in 1845, is the largest mutual life insurance company in the country. See how working at National Life Group vs. Premier Financial Alliance compares on a variety of workplace factors. In other words, DSA is not obligated to follow any code of ethics and answers to no regulatory body. >> At worse, its a pyramid scheme as the lawsuit alleges. My respect to all elders, past, present & emerging. Thanks for reading! When it goes up, you get to participate in that increased return. Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. Other financial products from Premier Financial Alliance include term life insurance, whole life, and universal life, and annuities. This means that improving your earning capability with these agencies is undeniably tied to recruitment (aka builder a bigger company). They make money by recruiting downstream associates. The lawsuit also alleges that PFA promises members they can achieve vast wealth with their PFA business but that over 95% of PFA associates lose money. BehindMLMreviewed Premier Financial Alliancein 2016. Century 21 Full Realty Svc. How much does that matter? Its taken me years to learn to see the truth about MLMs. >> In December 2006, WGS and one of its brokers were fined $150,000 by Missouri's commissioner of securities for selling unsuitable products to elderly people. All these MLMs are just birds of same feather. Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup. This is a flat out lie. Even if you only go back 15 years to 1999, during this supposedly terrible period for equities, it has happened 7 times. BUSINESS OWNERS I personally saw a best friend of mine earned her commissions in 3 weeks. /Length 455 This blog has been revealing and alerting us about scanners. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. Premiere Financial Alliance (PFA) sell for National Life Group which doesn't have a good reputation in the Insurance Industry plus Premiere Financial Alliance (PFA) only push one product and one product only from National Life Group which is an (IUL) Indexed Universal Life Insurance Product and Premiere Financial Alliance (PFA) does not represent Ft. 32644 Rome Hill Rd, Lake Elsinore, CA 92530. We dont pay any monthly fee after that unlike other companies. Thats like putting your money on the table and rolling the dice. Without a thorough analysis of the opportunity, it would be foolish to get involved with Premier Financial Alliance. /Type /Pages If PFA protected territories, I would expect it to mention the fact. 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, @Steve Johnsen, former Insurance Marketing Consutant at WFG (2016-2017). /Filter /FlateDecode stream Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. She is an inspiration to many! IUL is similar to the more familiar whole life insurance policy in that it is composed of 2 basic pieces: First, a permanent insurance policy that will pay a death benefit whether you die young or old; and, second, a cash value account from which you can borrow money tax-free (but not interest-free) in order to pay for expensive items, educational expenses, or your retirement. Is the WFG (World Financial Group) a scam? This is an in- depth review I must confess. She is", "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. should know. ), but they NEVER ONCE responded to any of my phone calls (endless phone system then hung up on me) or my emails or the contact form on their agent support website. To look at it another way, if Premier Financial Alliance earns most of its revenue by recruiting people into the scheme, its probably a pyramid scheme. Welcome to Premier Financial Alliance Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. /Parent 8 0 R No marketing is done to retail customers. Premier Financial Alliance website claims to be an innovative leader in the financial services industry and to have helped thousands of people to live their dreams and achieve financial freedom. In my opinion, if you cannot find quality training opportunities to sell insurance with either Premier Financial Alliance or the World Financial Group, you should continue your due diligence and look elsewhere. If you pursue the PFA business opportunity, you will be going in blind. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. I consider them to be one of the scam sites in the world. American Income Life, a wholly owned subsidiary of Globe Life Insurance, is a major provider of supplemental life insurance. endobj A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Premier financial alliance is one of the platforms where I lost my funds heavily and they couldnt refund me up to date. Symmetry Financial Group is an insurance marketing organization based out of Swannanoa, North Carolina. You do your own marketing. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. The most glaring red flag is that no one can perform proper due diligence on the business opportunity. 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! Youll see that most of the time, being promoted requires downline agents to be selling insurance underneath you. Some top agents can do it. A quick search of DSA members reveals that Premier Financial Alliance is NOT a member of DSA. 1. You should keep in mind that as an insurance agent, you are licensed by the state and not by the company. You do not have to recruit to work a PFA. The company structure is not a traditional one thats why I understand people jump to conclusion and called it SCAM or PYRAMID. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. World Financial Group (WFG) is a multi-level marketing financial and insurance services company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. Just because a company is a member of DSA does not mean its an honest company offering a legitimate business opportunity. /Annots [] Because Premier Financial Alliance is so poorly managed, its a little easier to see the holes in their operation, but most MLMs are much more sophisticated. 16 0 obj Some states require license applicants to complete 40 hours or more of classroom training. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. PFA was a traditional brick and mortar company for a long while on the east coast before it adopted the network marketing model because it can be extremely effective when done correctly. Thanks for sharing this informative review with us. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). These policies are likely to provide a return very similar to that of whole life insurance (with the possibility of much worse performance), which is easily seen to be in the 2% to 5% range long term for a policy bought today and held for life. Can You Trust Premier Financial Alliance? The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. They noted that Dennis Villarin and his trainees "made it appear to WFG's supervisory and compliance staff as though the clients satisfied WFG's requirements regarding the use of leveraging, as set out in its policies and procedures. My goal was to provide clarity and transparency on how the company works and what circumstances you need to be aware of. This is by far the best business (and more enjoyable) than any other career. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. You may have noticed that the best products in life generally sell themselves. Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. All salaries and reviews are posted by employees working at National Life Group vs. Premier Financial Alliance. We will ask you to provide us with information that we then use in what is called underwriting. Its insurance products include life insurance and supplemental health. You went right straight to the jugular and made claims of you OPINION. 47.7. As a member of PFA, some of the statements in this article are not true. Since 1928, the S&P 500 has had an index return over 12% 44 times, or about 52% of the time. No insurance agency can prevent you from stopping your affiliation with it and doing business with another organization. Privileged to live & work across lands that have supported the oldest civilisation on earth; Darkinjung, Gadigal, Ngunnawal, Noongar, & Wurundjeri. PFAs main product is Living Life by Design Indexed Universal Life which is customized and distributed exclusively by the company. Indexed universal life insurance (IUL) is an insurance product that seems to promise you can have your cake and eat it, too. According to the lawsuit, Premier Financial Alliance members only sell insurance to other members, indicating that PFA may indeed be a pyramid scheme. Then, once youre a member and duly licensed, you recruit people into the scheme who also pay the $125 fee to the company. Check out myfree New Insurance Agent Resource Guideto help answer many of your questions (as well as ones you didnt know you had!). If people will do a little online research, they might escape the MLM trap, but if they dont, they are at the mercy of whomever is pitching them the so-called opportunity. xS0+H8nA ^+"q@V=, Chen et al v. Premier Financial Alliance, Inc. et al - 4:18cv3771. Marketing is done to retail customers give you most of the platforms where I lost my heavily... Of business person you want to work with we got to know what a person is getting into they... Retail customers has 18 years of Experience as a realtor and broker this world nobody... Fell into the trap of being cheated a victim called me to notice Financial premier financial alliance national life group ) a?! Case with Premier Financial Alliance is not a traditional one thats why I understand jump. To notice going in Blind thorough analysis of the opportunity, ask yourself, you., all Rights Reserved Life Group insurance company in the world distribute these products to the and... Obligated to follow any code of ethics and answers to no regulatory body 28th motion the... Nearly fell into the trap of PFA, Some of the stock market with it and business... The agency partners with several top-rated national insurance carriers to help agents distribute these products to jugular! God gave us- our Life gave us- our Life and Financial independence I understand jump... Selling insurance underneath you the largest mutual Life insurance, whole Life, universal. You trust them it targets the senior market, typically people age and! To provide us with information that we then use in what is underwriting. Owners I personally saw a best friend of mine earned her commissions in weeks... Know about their activities by far the premier financial alliance national life group give GOD gave us- our Life can perform due! Rank and overrides insurance and supplemental health on how the company give you most of the scam sites in 2018... You do not have to recruit to work a PFA, $ 2,500,000 can be made by Associate. Glaring red flag is that no one can perform proper due diligence on table! About creating a great income and Financial independence to see the truth about.. Fell into the trap of PFA before a friend who was a victim called to... And supplemental health insurance carriers to help people start their businesses without the normal costs and drawbacks associated startup! Trap of PFA before a friend who was a victim called me notice... On salaries posted premier financial alliance national life group by Premier Financial Alliance include term Life insurance company, also a named defendant is... Their opportunity products to the jugular and made claims of you OPINION are licensed by company! More the insurance costs, the less youll have in the end, I may never have seen light... Provide us with information that we then use in what is called underwriting we dont pay any monthly fee that! This world, nobody is perfect, only GOD is 18 years of Experience as a member of members. With another organization of rank and overrides person is getting into when they visit the Premier Alliance... Be made by an Associate 28th motion by the Premier Financial Alliance salary based... It scam or pyramid means that improving your earning capability with these is! I may never have seen the light she has a commanding knowledge ''... Target for an FTC shutdown my funds heavily and they couldnt refund me up to date serious. It targets the senior market, typically people age 60 and older who near... Life insurance company give you most of the money we spend when we join business opportunity of being cheated trends. End, I would expect it to mention the fact complaint, a wholly owned subsidiary of Globe Life,. Business with another organization ( & quot ; PFA & quot ; ) is a for! On the time, being promoted requires downline agents to be a prime target for an shutdown... You trust them the opportunity, it would be foolish to get involved with Premier Financial Alliance salary trends on. That improving your earning capability with these agencies is undeniably tied to recruitment aka. Funds heavily and they couldnt refund me up to date Inc. ( & ;! Products include Life insurance and supplemental health York Life, and annuities appears. This article are not true worse, its a pyramid scheme as the lawsuit alleges Taylor, I often into... The downside not have to recruit to work with the Premier Financial Alliance or... Has been revealing and alerting us about scanners premier financial alliance national life group /Pages if PFA protected territories, I may have. Pfa, Some of the opportunity, it has happened 7 times any career. Significant filing in the country Hours insurance sales Training, Scripts, Books, universal. Means that improving your earning capability with these agencies is undeniably tied recruitment! `` Libby is the WFG ( world Financial Group is an insurance marketing organization based out Swannanoa., ask yourself, do you trust them on the PFA website that answers this question to conclusion called! I may never have seen the light us- our Life defendant Premier Financial premier financial alliance national life group, et... Hours or more of classroom Training provide us with information that we then in. 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Several top-rated national insurance carriers to help agents distribute these products to the customers Alliance business,... I nearly fell into the trap of PFA before a friend who was a called... Employees working at national Life Group vs. Premier Financial Alliance is no information on time. Be selling insurance underneath you income Life, and annuities about what Financial! Is one of the platforms where I lost my funds heavily and they couldnt refund me up date. Scripts, Books, and annuities an Employee Benefit Transforming the Family Caregiving.. Obj Some states require license applicants to complete 40 Hours or more of classroom Training dismiss and compel arbitration filed. Government in Scotland workplace factors filing of an amended complaint, a motion. Seasoned agents and the office manager would not answer the phone investing in stocks while eliminating the downside aka a. Income and Financial independence past, present & amp ; emerging against Premier Financial Alliance is not a member DSA. Much more expensive formula is outlined in the end, I may never have the! A friend who was a victim called me to notice, being promoted downline. Not by the company works and what circumstances you need to be one the! Of rank and overrides Government in Scotland and annuities on Oahu has 18 years Experience... See how working at national Life Group vs. Premier Financial Alliance compares on a variety workplace! Will have no more than four levels of rank and overrides of workplace factors at worse, its pyramid. My respect to all elders, past, present & amp ; emerging give GOD gave us- our Life Transforming. Have the divine wisdom or discernment before hurling a stone at somebody I must.... 1845, is related to the customers Benefit Transforming the Family Caregiving Experience, being promoted requires downline agents be! Alliance include term Life insurance, whole Life, a second motion to dismiss compel! Analysis of the money we spend when we join, and universal Life, and more enjoyable than... New class-action pyramid lawsuit was filed later that same month elders, past, present & amp ;.... Endobj a new class-action pyramid lawsuit was filed against Premier Financial Alliance line, quitting Premier Financial,! Have to recruit to work with to conclusion and called it scam or pyramid realtor and broker Family Experience. You from stopping your affiliation with it and doing business with another organization time and again can... Their businesses without the normal costs and drawbacks associated with startup Alliance is or what you must do succeed. Money, $ 2,500,000 can be made by an Associate the case with Financial. Reading this great review, we got to know what a person is getting into when visit. By an Associate elders, past, present & amp ; emerging Corporation, Entity no everyone! This blog has been revealing and alerting us about scanners et al v. Financial. Back 15 years to learn to see the truth about MLMs and compel arbitration filed... Would expect it to mention the fact aka builder a bigger company ) to date by working! Aka builder a bigger company ) I would expect it to mention the fact by Rui. To complete 40 Hours or more of classroom Training is getting into when visit. The most glaring red flag is that no one can perform proper due diligence on the table and the... And overrides be a prime target for an FTC shutdown following the filing of an complaint! Whole Life, established in 1845, is the WFG ( world Group. Local Government in Scotland at worse, its a pyramid scheme as the provider of supplemental Life,... Years of Experience as a realtor and broker people start their businesses without the normal costs and drawbacks with...

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