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World Financial Group [WFG]
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2.7 50 Reviews

World Financial Group [WFG] Complaints Summary

21 Resolved
29 Unresolved
Our verdict: Dealing with World Financial Group [WFG], which has an average resolution rate, requires some diligence. Research their service in depth and read a variety of customer reviews for a balanced view. Approach any customer service interactions with detailed and well-prepared queries to facilitate a better resolution process.
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7:14 am EST

World Financial Group [WFG] loan/unprofessional conduct by leslie and vice president of denton, texas location

As a long term customer of World finance and 9 successful paid off loans, I was appalled by the unprofessional conduct by Leslie and the VP of the company. Upon receiving a pre-approved letter-I applied for a loan, the manager that I have never met or talked to by the name of Tammy denied it. After several attempts to have upper level management contact me, I filed a complaint. Leslie in our conversation alleged that I should not lie to Yelp or BBB or to you regarding my credit score... I am not a liar, after all, after 9 successful loans and what I thought was a good relationship since having a bad credit score brought there in the first place... Well I am not a liar Leslie or Mr. VP, and in addition your unprofessional attitude and conduct is why this complaint is being done. And for the record, Mr. VP, at your urging, I have filed a complaint with Yelp, BBB and Consumer Protection/AG of Texas for misrepresentation, falsified advertising by World Finance (not 1 but 2 pre-approved letters sent to me by World Finance within 2 weeks of each other)-simply because I am not a liar.

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1:35 am EST
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World Financial Group [WFG] pyramid scam

I want my money back. I'm in the hole approximately 1000.00 because of their lies. I was a WFG "agent" and I use that term loosely. They brainwash people into paying them 100.00 to become an associate and then push and shove for you to recruit, recruit, recruit. When you try to get out they are condescending. When you finally do get out you are threatened with collections of E&O fees and recoupment of commissions from clients that cancel policies. Of course, when they are selling you the dream they don't tell you about any of that.

I want my money back.

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7:35 pm EDT
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World Financial Group [WFG] employment/fraud

I was invited to attend an employee assessment and job interview on September 22, 2018. When I arrived, the building was locked and a number of people were sitting in their cars. We waited 15-20 minutes after the scheduled 11.00 am start time for the associate to unlock the door and let us in the building. I spoke to some of the others waiting and they were all given the same story I was, that we were there to take an "assessment" and interview for a position as a financial adviser. We were not given an assessment as we were told, but attended an hour long presentation on why Transamerica/WFG was career worthy. Following the presentation, we were split up and escorted to different offices for our "interviews". I was told that a $100 fee was needed for a background check and to provide several personal and professional references. I grew suspicious of the legitimacy of this interview when the associate I was interviewing with repeatedly interchanged "references" with "leads" and asked me if there was anyone else I knew who could benefit from a financial planning seminar.
As I work in the legal field, I immediately looked up State Law regarding state and federal background checks and the case history for the WFG/Transamerica group class actions. Background checks are capped at $20 and are the responsibility of the prospective employer in the State of New Mexico. I probably could have ignored the class action law suites and the thousands of employee and consumer complaints but Associate Diane Anderson chose to lie about where my money was going and why. As such I would like the full $100 fee refunded and all of my information stricken from WFG records including the "references" I provided.

Tracking number: 1271635
Associate ID/code number: 64DLV.
Purchase Number: 6707258
Order Number: 6117991

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Update by aluke012
Sep 25, 2018 10:24 pm EDT

In addition, I received a request to DocuSign an application to apply as an independent contractor to find that my signature was applied to the document for me. This is a blatant display of fraud. I do not and will not give my consent to any of the stipulations outlined in the document.

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Anonymous9876
, US
Nov 20, 2018 1:54 am EST
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I had a similar experience and want my money back.

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3:25 pm EDT

World Financial Group [WFG] investment planning

I attended a presentation on August 5, 2017 and was pressured into becoming a sales rep. I gave in and paid $100.00; they gave me a small 'restaurant-like sales receipt." The next day I notified the 'sales rep in-training', who is my former co-worker that I wanted my refund because I do not want to be a sales person. She told me that the salesman will be out of town until next week. I waited a week then tried to contact her to no prevail. The my ex-coworker no longer responded to text or phone calls. I finally spoke with the salesman (who just happened to answer the office phone). He was the same guy who accepted my money and gave me the receipt. He refused to give me his name and actually said to me "It's only $100.00. He laughed and said "Remember I have all your personal information". When I try to call the company, there's only tape recorded information and you can't get through to live agents. I guess they are doing great because they are tricking people to pay fees. Just think, they could have done worst with the large monthly payments I was willing to pay for investments. I was fortunate to take my business to a more reputable company. These agents really make the company look bad. I will report them to the Better Business Bureau and will forever share this story with everyone I meet.

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8:44 am EST

World Financial Group [WFG] Employment/whistleblower/non disclosure/fraud?

I think I need an employment attorney please. I joined wfg end of 3'16. I was presented my business plan. The ceos (Kaitlyn groshong velasquez & johnny velasquez) were aware I want to join not to refer clients. I think what this company does, they tell you you need to be trained, contact your top 50 people and while she presents to them, i, as a trainer, listen so I get actual training. We were given 7/15/30 days business plan, which I accomplished and I got business from my daughter, my brother, my neighbor, my aunt, my son and my own personal transactions. I passed my life agent license 4'16. I was promoted 2x. The ceo convinced me to transfer my 401k, ira, investments to voya. She told me to call my merrill lynch, fidelity, etc and told me to tell them she is my financial advisor. I found out she does not have a securities license. She transferred all my $'s to voya. I thought I will get paid commission. I had another employment problem, the previous wfg did not transfer me to this new wfg till later. Finally, I got transferred with velasquez. Finally, I asked when I will get paid. I found out that kaitlyn & johnny (And joe villanueva) took all my clients, put them in their names and they got themselves full commission esp from my own personal investments of $212k from voya annuity. They gave me a piece of paper how much they'll pay me. I was shocked & told them I am a licensed agent! But to no avail. They gave me partial payment. I told them kaitlyn announced my new commission's 55% so the rest I should get 55%. Johnny said yes. Few weeks after, nothing from them about my last money with 55%. So I emailed and asked for details. They did not pay me the rest because I asked them to show me in details my new pay with my new commission for my review before I meet with them. I did not want to hear their lies without seeing anything in papers for my review. I also asked for commission printout of all my deals, to see how they came out with the commission. The husband, johnny velasquez, promised that all my deals will be transferred into my name. I do not want to hear their lies because I also found out that they did n ot discloses to me that I cannot touch my whole $212k investments till after 10 years, there's penalties, etc. Johnny said they want me to meet in person instead of giving me details of my new 55% before meeting. Johnny also said it is in my best interest to meet him since I do not have a contract. I could not access the wfg employment that I signed online. I did not meet with them. I filed a claim of pay to dlse. I complained to voya but since I signed an acceptance paid, I got denied. The ca dept of ins inspector that I spoke first told me to file a formal complaint, request for reversal, that they will go after voya first then go after individual licensee. But the ca dept of ins who is now handling my case said, I do not have a case. But they're interested with my case because kaitlyn velasquez has limited functions as a life agent because she did not disclose that she has a criminal conviction. My investigator also told me I should instead sue. I also filed a complaint to wfg compliance. I did contact wfg last year and they told me I should not be paid a rebate. This is where I am now. I told voya, dept of insurance, wfg - they at least should look into this so others are not scammed and taken advantage by this wfg handled by kaitlyn & johnny.

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WhistleBlower5
, US
Jan 24, 2019 4:36 pm EST

This isn’t surprising and I’m sorry you’ve gone through this with this team of individuals. Thank you for sharing your story but this isn’t the first time they do this to someone. That’s how this pair works. Johnny and Kaitlyn are the most selfish individuals you’ll ever meet. They single handedly scam their recruits all the time for names, phone numbers and commissions... they’re all about the cash they’ll get and what records they want to break or beat, not about the lives they’re affecting when they only think about themselves. Kaitlyn has a criminal record? Omg wow... LOL. Well, I have my own story to tell but I’ll leave that for another time. It’s sad that the only thing that defines them is dollar signs and MONEY and not the people — this business is about PEOPLE not just cash. It’s a sad life that their life’s value is defined on how much money is in their possession or how much they’re going to make rather than the people around them who trusted them with their jobs, life and family. Makes a company like WFG gain a BAD reputation because of jerks like this. They’re going to go through depression later in life, if not already, for their crummy ways because people who act like this aren’t happy nor good people and they attract others like themselves. Good luck with that! Not allllll the cash in the world buys happiness and quality of friendships. #RealTalk

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RhodoraB
, US
Sep 18, 2017 6:49 pm EDT

I filed a complaint with CDI, Voya & Transamerica. After their investigations, my investment with Voya and my Ttransamerica $'S IUL were all returned to me.

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Ez4u
, US
Aug 20, 2018 5:09 pm EDT
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Replying to comment of RhodoraB

We all need to file a class action law suit against WFG. They have to be stopped.

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1:54 pm EDT
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World Financial Group [WFG] Misled, Misinformed, Misguided, Lied, Fraudulent

How is it possible that througthrough email level company that anyone can join, people are being sold financial solutions to their future? Most of WFGs are under educated and do not have the slightest idea of what finance is. I have learned a lot through my terrible experience and I invite others to come forward and share your stories.

I was sold a life insurance policy as a retirement vehicle. I was even shown illustrations that depicted how my minimal monthly premium would grow into an astronomical tax free retirement account... Very misleading and I was never informed of possible tax consequences.

I was also sold a fixed annuity guaranteed to never go do in value, they never mentioned that the fees alone would eat away at my principal balance. Federal tax consequences were also never informed.

Finance is ddifficult for professional individuals who spent years at a reputable University... How does the industry and our government allow, a teen or an under educated individual to go out into families homes and sell them financial tools and investments, with minimal knowledge and a one-size-fits-all kitchen table presentation.

Please Write To the Following email

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9:29 am EST
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World Financial Group [WFG] Harrassing phone calls

Harrassing phone calls from 4 different numbers
[protected]
[protected]
[protected]
[protected]

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World Financial Group [WFG] Fraud

This company, s logo is No Family left behind. What it does is scam people out of the little money they have and ruins the relationships of the love ones that join this scam of a company. They say they are so big on family being so important when it boils down to the destruction of the family that joins world financial group.

This organization is an Aegon insurance company located in Chino Ca. In my opinion it is a cult and they lure unsuspecting victims to join and rope in other families to join as well. Anyone who comes across these people should run and run fast. THey are mostly crooks and cons to get you signed up for premuim polices while they go buy Bently's rolls royces and other high end cars laughing at the way they jam policies to people who can not afford to make these payments money and instil fear in them if they do not join.

I HAVE NEVER SEEN SUCH A GROUP who has FORMEd SUCH A LEADERSHIP AND CLUT FOLLOWING .I will be contracting the department of insurance in the morning, the sec and the ftc to inform them of the practices and unlicensed members of the company selling all these products without the proper lic required by the state.

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Jessica Little
, US
Jul 02, 2017 7:16 am EDT
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This is DEFINITELY not a get rich quick scheme, nor is it a SCAM and it is definitely not a PYRIMID! For one, I make money when I talk to people. Everyone needs what we do, but does everyone want to pay for it? I market for several different companies, so if a client can't afford something, I'm going to find something that they can. I do a personal financial strategy to decide what's best for each person, because everyone is different. WFG agents are highly regulated, the agents who are giving professional advice are licensed and have a fiduciary responsibility. There are always some good people and some that don't do things the right way, call out those people. Not the entire company. Google Toyota, Walmart, Amazon, etd. You will find something negative. I go for facts. Not emotional comments from disgruntled people, clients or affiliates.

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Min. Mosi Ambilikile
, US
Apr 12, 2018 10:20 pm EDT

Alright then! 🙌 yeah.

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Ez4u
, US
Aug 20, 2018 5:20 pm EDT
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youre definitely a Pyramid

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joehen goozo
, US
Sep 21, 2015 12:13 am EDT

Apparently you guys are from different companies which can't see WFG growth and success, there is no way you can offer the product without license.
So please stay where you are and live the way you live, because this is legitimate company and is not getting rich quick.

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l candray
Los Angeles, US
Feb 20, 2009 10:42 pm EST
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Today I received a letter with Tittle World Financial Group claim number jh/ca-0011 Its says RE: Winning Final Notification. I received a check for $4975.00. They are asking me to send 2995.00 to pay for my taxes for my san send my balance. Should I go and try to cash the check?

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OneEverWFGMember
, US
Aug 25, 2012 1:42 pm EDT

I joined in WFG six month ago, and paid a lot of fees for a serious lesson. I was going the big annual convention in Las Vegas in June and attending their Elite Circle for meeting their SO-SO all CEOs! After the excitement of making big money like them got over, I had disappointed about what happened when the District Market Director helped me opening several cases for our families. I had been struggling with their terrible financial management system. I got to know the way how they made money... I will not make further comments here since my best friend introduced me to WFG, and I made a lot of friends in that group. I considered my payment for making more friends for my unbalanced feelings. It's balanced by my emotion for loving people. But this is a business not personal relationship. So finally, I tried running away WFG forever!

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jejejeemem
Tucson, US
Mar 15, 2012 1:44 pm EDT
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WFG means What the Fxxxing Goofballs.

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jejejeemem
Tucson, US
Feb 08, 2012 12:27 am EST
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Are they still around these days? In short, they are MLM. If you don't like selling and "recruiting" at the same time, the job is not for you. They do not train you professionally AT ALL. You spend roughly $500 to $1K just to start up yourself. Do not spend even a penny with them.

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Jessica Little
, US
Jul 02, 2017 7:03 am EDT
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Replying to comment of jejejeemem

I am an agent in Virginia and must say that if you get licensed within 60 days, there is a $500 reimbursement! I never understood why they say reimbursement because I didn't spend that when I was accepted. I invested $100 (which with any other franchise, the investment could go from $50, 000 up), I invested $15 for my background check, $39.95 for the online course, $51 for the exam (twice because I failed the first time) and $44.50 for the license. That's $301.45! So basically, I got paid to get my license in 60 days!

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doublejake
San Franc, US
May 29, 2010 10:38 am EDT

Use your common sense. If you don't do anything, why someone should send you a check?

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WFG Client
, CA
Dec 29, 2009 8:28 pm EST

OK guys! I'm a client of world financial group. They've never ever send a check to your house if you are not an agent and you are not working for them. If you've recieved a check from world financial group call the main company and inform them because clearly a person is using their name to scam other people.

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Jessica Little
, US
Jul 02, 2017 6:43 am EDT
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Replying to comment of WFG Client

You have got to be the smartest person ever! Thank you for your comment. I have seen so many scams using other people's names because people will use what they can to get what they want.

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lmb88
, US
Dec 27, 2009 3:58 pm EST

I wonder what would happen if you attempted to cash this thing. I received a check today for $3, 800. Has anyone even considered trying to cash it?

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Deb E
Toms River, US
Mar 04, 2009 11:42 am EST

I was also sent a check and knowing it's a scam I didn't call or cash it; but I'm considering taking it to their bank and having it cashed. Anyone have any thoughts on that?
Deb E

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World Financial Group [WFG] Job SCAM

Never open your door to WFG representative, they will get in your house but they are looking to get money, family, and friends from you. They will force you to buy their products that actually is real (I did some research with people at AEGON) but that is not the case, they will harass to you and any references you give them to make money. Better go to a Credit Union and ask them to talk with a financial advisor.
I wish I could find this page before I got in to it.

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sd06
, US
Aug 28, 2015 7:46 am EDT
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Wow, I'm not sure who either of your upline was but that sounds more like the problem then anything. Business ethics play a very important role in the financial services business. As for "fake" product, NO WAY! WFG doesn't have any products, they are a "broker" in a sense. The products they provide clients are from Nationwide, Transamerica, Prudential, etc. Are you saying these companies are fake? If so, my policies that are making CASH definitely say differently. WafG is an amazing company, and a better company with a lot higher standards then most of its "competitors".

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OneEverWFGMember
, US
Aug 25, 2012 2:52 pm EDT

I joined in WFG six month ago, and paid a lot of fees for a serious lesson. I was going the big annual convention in Las Vegas in June and attending their Elite Circle for meeting their SO-SO all CEOs! After the excitement of making big money like them was over, I was disappointed about what happened when the District Market Director helped me opening several cases for our families. I had been struggling with their terrible financial management system. I got to know the way how they made money... I will not make further comments here since my best friend introduced me to WFG, and I made a lot of friends in that group. I considered my payment for making more friends for my unbalanced feelings. It's balanced by my emotion for loving people. But this is a business not personal relationship. So finally, I tried running away WFG forever!

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Ez4u
, US
Aug 20, 2018 5:16 pm EDT
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great decision to stay away from them. I'm thinking of filing a class action law suit against them

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9:02 pm EST
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World Financial Group [WFG] On the verge of collapse

World Financial Group, an AEGON company, is on the verge of collapse! I am just sharing inside information I came accross, and hate to see people lose their money, time, and sense of security! There are legitimate business offices you can go to that do the same thing, without the scam! COLLAPSE!

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jeanettewfg
, US
Feb 27, 2018 10:39 am EST

It's 2018 and the company continues to grow strong by leaps and bounds. Unfortunately, the individuals who know nothing about WFG but sound the false "fraud alarm" cheat deserving individuals out of a life-changing career. $100? Think about how many times you go out and blow money on coffee, food, and other nonsense. How many times over have you spent that $100 that could potentially change your life? For me, personally, it was a no brainer. I made my $100 back within three weeks and far more. I have felt blessed to be able to educate individuals on life insurance, building wealth, and bettering their finances. I've reviewed countless policies and have been able to help families upgrade their life insurance policies to policies they can afford now and when they are in their late 50's and 60's. If you have life insurance, take a look at where your premiums will be 25 / 30 years from now. You may not be able to afford them. Do you have living benefits? I don't mean terminal illness that pays the face value if you have 6-12 months to live. I mean Living Benefits that pay a portion of your death benefit to help you fight to live if you're diagnosed with Cancer, have a heart attack, etc. Our industry is regulated, you must be licensed, you must be able to pass a background check. No one is going to harass you as we are not in the convincing business. So if someone is receiving harassing calls, it's likely the collector for that bill you were unable to pay. You come to a meeting, the facts are presented, and you make a decision. Period. Either way you win because in that one hour meeting you will learn enough to put you on the right path to changing your situation... whether with WFG or otherwise. That said, I urge you to go to that meeting you skipped because you read some nonsense on a forum.

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Marta A. Garcia
, US
Jan 03, 2016 3:07 am EST

It's 2016 now and the company is doing better than ever.

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Not as Dumb as I may look
Garden Grove, US
Sep 26, 2013 7:53 pm EDT
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I have read 4 reviews now, all say the same thing: WFG makes you pay for your own background check as well as many other fees heretofore NEVER having been borne by the potential employee. I have saved myself a lot of frustration (and embarrassment) by researching this company prior to my upcoming Saturday morning interview..And NO I will not call to cancel...I will be a no-show, if only I could get hold of the others who plan to show up to interivew under a slick ruse of a real job being available. Arghh !

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Not as Dumb as I may look
Garden Grove, US
Sep 26, 2013 7:47 pm EDT
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Wow, after reading 3 or 4 others' experiences I am 100% sure I am going to cancel my upcoming SATURDAY MORNING interview. I've been out of work 16 months I don't need to go to WFG and pay for a background check, , , are they crazy? I got the same line about then having found my resume on careerbuilder what a load of crap. And to think I was going to go up there and be stuck there til noon at least when I have to set up the house and patio for a 1 PM memorial service for my friend's dad who was my landlord. He lived to be 86 by AVOIDING BS'ers like WFG. I am eternally thankful that I can research a company before investing my time and effort thinking they have a real JOB for someone like me who has worked since 1973 until being laid off at end of May 2012. Beware this company !

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THE MARK
Augusta, US
Nov 29, 2012 6:00 pm EST

I agree. It amazes me to see a person sound a false fraudulent alarm that amounts to nothing more than a smear campaign. WFG is a company that has helped many families with their finances. I know because I’ve witnessed it firsthand. I will admit everyone is not cut out to work for the company. That being said there is no need to falsely criticize a company because you either don’t understand their Business Model or you don’t want to work for them. They are a really good company doing great things for middle-income Americans. Go WFG!

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BusinessMinded
Midlothian, US
Apr 29, 2011 3:29 am EDT

I am wondering how World Financial Group, an AEGON company, is on the verge of collapse. AEGON is a Global Fortune 500 company, listed at 103 in 2010. World Financial Group, Inc. appears to be growing strong across the United States. they encourages individuals and families to build and protect themselves. Hmmm... You have suggested it's fraudulent but have proven nothing more than you know how to type the word SCAM. If you are going to defame a company, please back it with facts not just an unfounded opinion without merit.

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Bunny Pink
Livermore, US
Apr 27, 2011 10:43 pm EDT

I have a contact person from one giant financial corporation who particularly had a talk with a possible alliance with Aegon. He said that they are a real "no-no" and too cheap to do business with.

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World Financial Group [WFG] I walked out of the interview

I get a call from WFG on Friday (HELEN)afternoon stating that the found my resume on career builder and they where impressed with my resume and wanted to interview me ASAP. They talked very fast and I didn't quite get the name of the company.(That should have been the first clue) So I went to the interview which was on a Sat BTW. (The second clue should have been)

When I got to the office there where 30 plus people in the lobby waiting to be interviewed by the same person I was going to be interviewed by.

They brought me in with 2 other victims and asked us basic questions like have you ever heard of WFG?, do you like money?, and what our background was?. Next they brought us into a room with really loud music and we where supposed to mix around the room and talk to people. At this point I was convinced this was a Marketing Scam.

I thanked the lady for her time, grabbed my resume out of her hand and walked out of the interview or mixer as she called it. On my way threw the lobby I announced to everybody still waiting that it was a Marketing scam and walked out. The lady at the front desk looked kinda angry.

LOL It was kinda fun now that I think of maybe I will go back next time I get a call. Just to mess with them some more.

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notfallingforthat
Broomfield, US
Jun 12, 2011 4:52 am EDT
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I had a similiar experience recently. One of their sales people here in Colorado found an online listing for my graphic design business and called pretending to have graphic design projects for me. He said I should come right away! The afternoon was too late! The projects were urgent! So I raced over there and when I got there then he told me he actually didn't have any money for graphic design projects but in fact wanted me to attend a sales pitch. WTF. Total lies!

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World Financial Group [WFG] Total fraud

Well, I was contacted by WFG representative. I was impressed by the big stories and the presentations. They gave me big picture and I was so foolish that I left my company paying very good salary. Truth came to picture soon, The lie cost me my job, 6 months of saving 5000 per month. After getting 4 - 5 customers, I was paid 400 to 500. I was promised for 20k to 25k.

After learning that I was fooled, I was shocked and got into accident. It cost 8000/-

My mother in law heard that I was scammed and she had heart attack and she passed away.

Here is their trick. They attract you to use your contacts and then try to get rid of you, so that they can keep the commissions for the rest of life.

Another thing, whenever you go to their presentations or when they come to your home for presentation, just keep the paper of what they write. They will deny you because it is lie.

Recommendation to all :- If you have any enemies, recommend them to him and see how miserable can be persons life.

WFG :- Remember your lie can cost someones job, savings, someone's life.

Remember whenever you get the check, ask yourself is the check is true or from lieing or from getting rid of representative. ASK YOURSELF THE BLESSING ARE IN THE CHECK OR CURSES. THE ANSWER WILL BE CURSES. AND IT WILL HAUNT YOUR LIFE FOREVER.

GOD IS THERE TO WATCH :- NO MATTER WHAT YOU DO.

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BusinessMinded
Midlothian, US
Apr 29, 2011 3:03 am EDT

WFG associates are in business for themselves. WFG did not tell this individual to quit his job before he established himself. It was an individual choice. Aligning yourself with only 4-5 customers does not constitute growing a business. This individual quite before he got started. It is highly likely that his failure rate continues passed his business venture with WFG. His negative is based on his own decisions and fails he has within himself.

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World Financial Group [WFG] - Fraud alert

WFG is a financial sales group. As an insurance agent, I was very surprised when they asked me to pay $25 to file contracting papers with each insurance company they represent. No agency has ever asked to pay for contracting before and I've had my insurance license for years. I was also surprised to find people at the interview who did not realize they...

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World Financial Group [WFG] Ripp-off Fact

I am writing the fact, not what is right or wrong. Trying to be informative. There is nothing wrong to do business in Amway style which is somewhat gray zone business. Again, some people love it. Some people hate it. You are the one to make a choice. Again, I am only trying to be informative. The information I share on this website is that WFG usually does not tell candidates at the BEGINNING.

They sell mainly Western Reserve Life's policies backed up by Aegon Bank, a dutch bank. They surely help people who don't have concrete future financial planning. There is nothing really wrong with it.

1. You pay $100 registration fee. WFG does not pay for you.
2. You pay 52 hr. life agent course study -- various schools are available online, you attend in person etc. etc. WFG does not pay for you.
3. Test fee. WFG does not pay for you.
4. WFG's some offices "seminar" do not offer product training. Each office is run differently, which shows that their head office does not have consistent training program for free.
5. Your commission is only 25 - 35% unless you have at least 3 to 10 agents beneath yourself
6. Multi Level Marketing plus pyramid scheme
7. To learn various kinds of financial products, you pay the tuition from your own pocket. (please refer to no. 4)
8. Your mentor sells not only life insurance but also mutual funds
9. You make your business cards at your own cost. They don't pay for you. Their website has a bug so your business cards printed with wrong address and information
10. In the event of your potential customers' rejection, your mentor often tend to blame it on the customers.
11. When you come to conclusion to not transfer your policy to theirs because your current policy has much much better quality, the mentor ends up convincing you that you are crazy.

This model lures the agent by telling them that you would not only gain by sale of yours but also gain by sale of agents under you (Amway Model). The agent should understand that although they are earning bit of other agent's commission, a big chunk of his commission is also eaten by agents above him. Therefore, the commission that the agents get by WFG sales is quite less then the direct sale that they will do with channel other then WFG.

Because WFG believes in quantity more then quality of agents, the application filled quality & the quality of service given to the customers is really poor. This leads to lots of application entry errors, reduced customer satisfaction & at the end, lost customers.

I am currently working for a different insurance company which gives me 85% commission. I do not have to recruit anybody beneath me. I AM NOT LAZY.

The following URL is interesting for you.

http://money.cnn.com/magazines/moneymag/moneymag_archive/2000/05/01/278258/index.htm

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GdExmpl
, US
Jul 24, 2017 2:14 pm EDT

I just laugh at the people who make judgements on companies without really understanding it themselves. And needless to say, if WFG wasn't doing the right thing, it wouldn't be around as long as it has and wouldn't produce so many successful entrepreneurs already. I am amazed at how many loser have time to go online and post crap about their failures and blame one company or another. The only way I came across these posts is when someone sends me the link otherwise, I've been with WFG for 14 years and I wouldn't change my experience for the world. It has helped me, my family and the families of my friends and relatives. So for the rest of you, good luck blaming others while you stay a loser...

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jejejeemem
Tucson, US
Mar 15, 2012 1:41 pm EDT
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My friend became their customer. He lost thousands $ to them. Not a greatest way to invest your precious money. Don't spend an even penny to them.

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Another_guy
El Cajon, US
Nov 08, 2010 4:27 pm EST

You say you are not lazy. Well the fact is as you get older you are not going to be able work as hard as you once did. The reasoning for building a team of people to help you in your business is to provide security later on in life. Not to be lazy. I always say Some will some won't so what who's next.

I agree about WFG. Thier model is a broken one. It could use a face lift.

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World Financial Group [WFG] - scam

This company is so slick. They fooled me until my second interview with them (and they required three interviews). Luckily I didn't give them any of money, but they asked me to pay $100 for a background check and training materials. I started to suspect something odd when I handed them my references and they didn't even look at it. Instead they wanted...

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World Financial Group [WFG] - Be cautious

I am writing the fact, not what is right or wrong. Trying to be informative. There is nothing wrong to do business in Amway style which is somewhat gray zone business. Again, some people love it. Some people hate it. You are the one to make a choice. Again, I am only trying to be informative. The information I share on this website is that WFG usually doe...

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World Financial Group [WFG] scam company

After posting my legitimat resume on a website I received a telephone call from Steven. He tells me he found my resume on-line and based on my experience i was just what his company was looking for. We talk for a bit and he asked me to come in for an interview. I agree and set a date. Afterwards I come to this website and look up the company name and lo and behold several compliants. After reading the first 20 i decided to call him and let him know i am no longer interested in coming in for an interview. He imediately gets defensive and says any company you put in is gonna have compliants. so i again tell him im not up for an arguement and i would like to just cancel my interview he then gets rude and makes some off color remarks and tells me i wasnt the right person for the job in the first place. Now if you have a legitimate company you would not have handled this situation this way. So job posters beware if Steven calls you from World Financial Group at [protected] just hang up on him immediately and run like hell.

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Georgio Armani
San Francisco, US
Jul 14, 2010 4:23 pm EDT

Good job!
All you have to do is "I cancel the interview. DO NOT call me any more." and hang up.

If they call you again, tell them "Take off my no. from your list." And if they call one more time, you should sue them. It is the law. Once you tell someone to stop calling, the caller must stop calling. 99.99% chance of winning in the court.

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cpswarrior
Austin, US
Jun 08, 2010 5:19 pm EDT

RULE #1:
NEVER, EVER EVER PAY to work. it goes the OTHER WAY people!

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World Financial Group [WFG] Complaint

They sell mainly Western Reserve Life's policies backed up by Aegon Bank, a dutch bank. They surely help people who don't have concrete future financial planning. There is nothing really wrong with it.

The issue is the way World Financial Group recruit. You have to know the followings:

1. You pay $100 registration fee
2. You pay 52 hr. life agent course study -- various schools are available online, you attend in person etc. etc.
3. Test fee
4. WFG's each office "seminar" does not offer product training.
5. Your commission is only 25 - 35% unless you have 3 agents beneath yourself
6. Multi Level Marketing plus pyramid scheme
7. To learn various kinds of financial products, you pay the tuition from your own pocket
8. Your mentor sells not only life insurance but also mutual funds

This model lures the agent by telling them that you would not only gain by sale of yours but also gain by sale of agents under you (Amway Model). The agent should understand that although they are earning bit of other agent's comission, a big chunk of his commission is also eaten by agents above him. Therefore, the commission that the agents get by WFG sales is quite less then the direct sale that they will do with channel other then WFG.

Because WFG believes in quantity more then quality of agents, the application filled quality & the quality of service given to the customers is really poor. This leads to lots of application entry errors, reduced customer satisfaction & at the end, lost customers.

Read full review of World Financial Group [WFG] and 7 comments
Update by Georgio Armani
Jun 27, 2010 1:44 am EDT

Dear Sue You Again,

Again, I am only trying to be informative. The information I share on this website is that WFG usually does not tell candidates at the BEGINNING.

1. The fee is usually $50. Only WFG asks for $100
2. The tuition is usually paid by the company. Only WFG asks the candidate to pay it from his/her pocket money
3. Test fee is usually paid by the company. Only WFG asks the candidate to pay it from his/her pocket money
4. Wow, so each office has a different policy?! That is interesting. Doesn't your head office have a solid and common education training?
5. Mine at other company pays me 85% commission and I don't have to recruit beneath me.
6. Yes, you are right, it is MLM and pyramid. I don't say if it is wrong or right.
7. I had to pay! Please refer to no. 4.

I AM NOT LAZY.
Your conclusion that anybody who does not fit for the pyramid scheme is "lazy" is totally wrong.

Update by Georgio Armani
Jun 26, 2010 3:05 pm EDT

I am writing the fact, not what is right or wrong. Trying to be informative. There is nothing wrong to do business Amway style which is somewhat gray zone business. Again, some people love it. Some people hate it. You are the one to make a choice.

I am currently working for a different insurance company which gives me 85% commission. I do not have to recruit anybody beneath me.

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REBBIE24
, US
Oct 14, 2015 1:04 pm EDT
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I'm a licensed agent and have been held captive by life insurance agencies in the past. This is the reason for my decision to become a hard worker with the WFG system builder. Here I found a company that thinks outside the box and helps their unlicensed agents to have the ability to generate income through many avenues that do not require a license until they have one. Not with any other company I've been held captive to. I also had to pay for my own license, class, and test when I decided to become a life insurance agent. I went on line myself and paid a reduced price than the company I was affiliated with at the time offered. That company-not WFG-assisted future agents with obtaining a license by having classes that were priced much higher than if I did it all on my own. But I say this to let all persons know that any license obtained by an individual is 99% paid for by that individual. Insurance, drivers, business etc all are paid by the individual seeking the license. Nothing out of the ordinary for any company to request the new agent or employer obtain one by using their own money.
WFG has partnered with several companies that generate license testing education in order to give discount classroom instruction. How great is that. The state issues you a license so it's the states money not any company. An individual pays the state. Along with the test company. An individual pays the company that administers the test. And with that-one has to find a proctor and pay him/her a fee before taking the state test.
So if you found a company that was willing to do that for you great for you but don't paint a picture that that is the norm because it is not.
As for 85% commission if that is true why didn't you mention that company by name. You shared information on what company to stay away from but didn't give your reader the opportunity to move in a better direction. You stated a problem without a solution.

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cashkid
Toronto, CA
Feb 02, 2012 7:17 pm EST

I'd like to add that I have only been with the company for two weeks and I already see their opportunity. Yes you pay and yes the commission might not be 85%, but does your company take the time to show you how to get from 85% to 100%. I hate how people look at numbers only. Numbers with no structure will equal staying in one place or failing. We deal with reputable financial institutions and help build a solid foundation for peoples futures. I don't know about you but every millionaire that I have heard form didn't get were they were working for somebody else. If you complain about a few 100 to end with a life time of money and don't want to work hard to get there then you made the right choice going to whatever company you went with. The only one that can stop you in life is yourself. Congratulations you have just been promoted to stay in the rat race.

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emn77
Atlanta, US
Jul 27, 2011 8:37 pm EDT

hold one minute wfg is nothing near a scam, there a system to follow just like any other multibillion corporation which will allow one to own the own big business/ company serving families and raising their financial awareness. This is a business through educating families about financial concepts not selling. There are sooo manyy rich entrepreneurs within this company because they follow a system. This is not MLM or pyramid because everybody can build something great for themselves. Does the old banking industry care for families in America and take time to teach families how money works?NO. However wfg does that and emphasizes on building sincere relationships with there clients.

ALso guys use common sense: ITS AN AEGON COMPANY! How can they be a scam? WFG is partenered up with the top financial institutions and providers in the nation!. SO what the companies they teamed up are a scams too? Half of yall are haters because you didnt work hard at all or smart enough by not following the system WFG has which can change ones life around for the better completely.
Through the system you can build your own franchise and build much more. HOW u say? Its a business with a proven system! and as a member thats licensed you have access to all these top companies with a backing of AEGON " a company that manages 500B in assets like are u crazy to say its a scam? like shutup and know your facts. As a member fee you just pay for the administrative process and thats it. As for licensing any legit business requires licensing anyways. Work hard, follow the system and yeah theres a great chance you"ll be made

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Bunny Pink
Livermore, US
Jun 01, 2011 1:08 am EDT

poor quality message, Sue! G is showing simply about what you have to pay and do at WFG. As he mentioned, not about what's right or wrong. Yes, license fee is for the business that you need it. Who pay for you? Not the company. You pay from your pocket.

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BusinessMinded
Midlothian, US
Apr 29, 2011 3:36 am EDT

Great message, Sue!

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Bunny Pink
Livermore, US
Aug 04, 2010 3:04 pm EDT

Yeah, Georgio!

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sue again
, US
Jun 24, 2010 7:12 pm EDT

1. the registration fee also covers everything such as your agent code and setting up payroll. i was a small business owner and let me tell you that i am more than happy to let someone else run my payroll for all my employees because it takes time to do it. when you have a team going, wfg does the payroll for you and you have nothing to worry about.

2. when you pay for your online class or go to an on campus site, you are paying for YOUR OWN EDUCATION - that money does not go to the company, therefore you are investing in YOURSELF. just like paying your own way through college and getting a degree - YOU INVEST IN YOURSELF AND YOUR EDUCATION.

3. TEST FEE - goes to your state license. its like getting your real estate license - ITS NOT FREE.

and let me note that if you become licensed within 60 days and meet other requirements such as making 3 sales and 3 recruits within 30 days, YOU ARE REIMBURSED $300 - thats like coming into the business for free and having your license and everything paid for by the company.

4. I dont know what office you went to but my office sure does have product training ALL THE TIME. different reps from different companies come and educate us on their company and their products.

5. commission is 25-65% - hard work pays off. do you think your 9-5 job is going to give you a raise just for nothing? just like any other job, you must work - money does not fall from the sky.

6. Pyramid scheme = when the person up top eats money off the people down underneath them. in WFG, if you work hard, you can SURPASS whoever brought you into the business and anyone who came before him/her. You can also make way more money than them as well. HARD WORK PAYS OFF. quit being lazy ###.

7. you dont have to pay any kind of tuition to learn financial products. i dont know what kind of information you are getting thats not true.

8. we dont just do life insurance and mutual funds. We educate people the basics of finance and preparing for the future. Annuities, college funds, debt management, buy-sell agreements, and even health insurance. We sell health insurance for Kaiser Permanente.

and you are completely wrong about eating another agent's chunk of commission. if you only make 25% commission, that means you need to work harder and move to the next level. but no matter what, the agent makes their full commission and what their mentor gets paid is whats called an over-ride which is like a bonus check paid directly from the company.

WFG is a great company and wonderful opportunity, but its not for everyone. It's not for lazy people and closed minded people who think they know everything. I guess that's why it didn't work out for you?

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World Financial Group [WFG] - Be Careful

They sell mainly Western Reserve Life's policies backed up by Aegon Bank, a dutch bank. They surely help people who don't have concrete future financial planning. There is nothing really wrong with it. The issue is the way World Financial Group recruit. You have to know the followings: 1. You pay $100 registration fee 2. You pay 52 hr. life agent course...

Read full review of World Financial Group [WFG] and 14 comments
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World Financial Group [WFG] Mislead with untrained reps posing as financial consultants

When i questioned the risks of their advisement, they became short with me and said it could never happen. my concerns have come to pass and wfg is attempting to blame me by backing out of their original advice. am considering a class action suit.remember, if it sounds too good to be true, it is!the representative they sent had no training in financial matters. in fact he is no longer with wfg. he now cuts lawns! after i told him i wasn't interested, he approached my wife behind my back.wfg is a scam that places wishful thinkers at risk.

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BusinessMinded
Midlothian, US
Apr 29, 2011 3:13 am EDT

WFG reputation appears to be quite strong in my area. WFG focus is to educate the less knowledgeable in financial services. It seems that the uneducated can be disgruntle when someone is trying to teach them. My personal dealings with WFG have been informative and focused on earning, saving, and investing.

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senior md
montgoyme, US
Apr 28, 2011 2:25 am EDT

Aegon owns WFG. It is Half trillion $ company. It is currently ranked 103 in forbes worlds largest companies. And after 2008 it is stronger than ever. So if its not legitimate, what is?

Zach johnson in the PGA tour is sponsored by aegon.
The USA luge team and NASCAR has WFG sponsorships. They must be scams too huh?

Too many idiots in the world.

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PrawFessie
Visalia, US
Mar 07, 2011 8:56 pm EST

It's a scam!

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wiffieturp
Orangeville, CA
May 10, 2010 1:44 am EDT

Well, when you're a pyramid scheme you grow at a rate where quality training is unsustainable. The quality of the training gets diluted through broken telephone. Primerica works the same way. Scary...

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Bunny Pink
Livermore, US
May 01, 2010 8:22 pm EDT

Even their high ranked reps are not so used to high-end prospects/potential clients. They prefer uneducated prospects who do not have a skill to scrutinize the nature of business.

High-end/highly educated people are attracted to big names with long established insurance companies.

If you have to pay $500/month premium, which one would you choose? Shaky one or trust-worthy one?

WFG reps are well trained to talk back a lot on the various website where WFG are criticized a lot, which means that they are not that good. "Look at complaints about other insurers!" they would say. Yes there are so many complaints about AllState, Farmers, Geico posted on websites. Read carefully! The nature of complaints of other big names and WFG is so different. WFG? Mostly about their poor operation and bad customer services, the most critical points. Insurance products are basically the same. What makes the difference is how the clients are taken care of for a long time.

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World Financial Group [WFG] contacts

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