The complaint has been investigated and
resolved to the customer's satisfactionResolved World Financial Group — Be cautious
resolved to the customer's satisfaction
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
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.
More World Financial Group Complaints & Reviews
- World Financial Group - Terrible experience
- World Financial Group - World Financial Group Scam
- World Financial Group - Be Careful
- World Financial Group - Bizarre Cult
- World Financial Group - scam interview
- World Financial Group - scam
- World Financial Group [WFG] - pyramid scam
- World Financial Group - I walked out of the interview
- WFG - Total fraud
- World Financial Group - Complaint