Is World Financial Group a scam?

Is World Financial Group a legit employer or a multilevel marketing scam?

  • I recently went to what the company calls a "corporate overview" where they discuss what the company is about, career opportunities, compensation and the like. They offer training (which I have to pay for; something that was left out of the presentation) to become a licensed financial planner selling annuities, bonds, life insurance.... I've done my research and a lot of hits came up that point to this being a scam but it's difficult to find credible sources. Just wondering if anyone has had exposure to this company in any form and their thoughts on it. Thanks in advance for the replies, they're greatly appreciated.

  • Answer:

    I went to one of their introduction meeting a couple of weeks ago, and, trusting the friend who had invited me, signed up to become a consultant. At that point I didn't really know anything about them yet and I figured I couldn't loose anything by signing up. But then two of their consultants visited me at home, trying to really reel me in. During that meeting I realized that they are not about "helping people" or offering diverse financial services at all. I can say this with complete confidence because I have a degree in Finance and know a lot about investing. They prey on people who do not have a financial background and therefore can't really judge whether this is a good thing or not. They are only interested in getting as many new recruits (meaning all your friends and family), and talking as many people as possible into purchasing life insurance, even if they don't need it. They are very manipulative and will do everything in their power to make you believe that you are part of something great, and that you are truly doing your "victims" a service. I look at this as a pyramid scheme. Sure some people are making good money, but guess what: They are at the "top of the pyramid" and get paid off the legwork of all the people who keep getting recruited and allow the company into their social network to profit from. And you have to be quite unscrupulous to be one of them.

christin... at Yahoo! Answers Visit the source

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Other answers

to sell any type of life insurance, bonds, annuities you need to aquire specific licenses by law. If not you are comitting fraud amoung other issues and will be held liable. You can be sue and even arrested if you dont aquire the specific degrees. To sell annutities you need a series 7 license ( since your dealing with the financial planning aspect ) To sell insurance you need an- Insurance degree in life and health. Also you will want to get E/O coverage on yourself. Which im sure they didnt talk to you about. E/O coverage protects you in the event you are sued.

smurge1980

I just finished attending the meeting and I agree with the users above me. Just from what I saw they don't seem to big on "helping" as they claimed. They really wanted to meet and set up an appointment. I just bluntly told them that I would do some research and then get back to them. And now that I'm done it was a wasted hour and a half of my time.

lzorroplayer

what's their website or email?

brilliantman_i

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