/Count 5 She works hard to achieve the leadership position shes in now. See how working at National Life Group vs. Premier Financial Alliance compares on a variety of workplace factors. Regardless of where you are in life, there is probably a lot going on. Best regards, Now it is a very impetuous world. Affiliate membership requires payment of a $125 fee. Premier Financial Alliance classic pyramid scheme lawsuit filed, David CarrollJack WuRex WuLan ZhangBill HongAJW, PFAJack WuPFARex WuLan ZhangBill Hong, Rui ChenWenjian GonzalesPFA20172018PFA, , PFA, , 25015, , PFAPFA, 528125PFA305, PFA55%, 305PFA55%, PINNACLE ACADEMY After School Learning Center, Susan Goodkin Selective College Consulting, Mingfei (Kurt) Ha | REALTOR Licensed in MD, VA, DC, Zhen Wang | Real Estate Investment Advisor, Premier Financial Alliance fraud cases consolidated, Why an Indexed Universal Life (IUL) Policy Will Fail - Quick version - Safe Money - Cash Value Life, http://blog.sina.com.cn/s/blog_708d8ef10100xznu.html, http://www.chineseinla.com/f/page_viewtopic/t_779561.html, , , , marketing director, senior marketing, , ----, WORLD FINANCIAL GROUP WFG, Word Financial Group , World Financial GroupSenior, Marketing Director , https://en.wikipedia.org/wiki/World_Financial_Group, National Association of Securities Dealers, http://xiaoshuailiu.blogspot.com/2017/09/wfg.html, The White Coat Investor: A Doctors Guide to Personal Finance and Investing, https://www.mdmag.com/physicians-money-digest/personal-finance/dahle-5-reasons-not-to-buy-iul-insurance, https://www.mitbbs.com/article_t/SanFrancisco/34629529.html, https://behindmlm.com/companies/new-premier-financial-alliance-lawsuit-claims-asian-immigrants-targeted/, https://behindmlm.com/companies/premier-financial-alliance-classic-pyramid-scheme-lawsuit-filed/, http://www.wenxuecity.com/news/2018/07/25/7469956.html, A 2004 NASD disciplinary action report summarized disciplinary actions against WGS. If Premier Financial Alliance is indeed an MLM company full of affiliates earning commissions based on how much their recruited downlines are spending each month thats a problem. SUWANEE, GA / ACCESSWIRE / November 14, 2016 / David Carroll, CEO and Founder of Premier Financial Alliance, Inc. announced on April 30th, 2016, the debut of Living Life indexed universal. View more recently sold homes. Judging from the website, it doesnt look like potential associates would even have a clue as to what they would be selling. Since Premier Financial Alliance has taken no steps to prove they are NOT a pyramid scheme, we may assume the worse. Well, imagine if your policy had a cap of 12%. PS: If you would like to learn more about insurance sales opportunities other than Premier Financial Alliance and World Financial Group, weve posted tons of insurance career reviews on this page. She is an inspiration to many! The more the insurance costs, the less youll have in the cash value account. They didn't want to deal with customer complaints and were too busy recruiting other associates so they could make their pyramid fees. This site is owned and operated by Blind Tiger Press, LLC and participates in various affiliate programs including Amazon, Clickbank and Wealthy Affiliate, and may be compensated for referring traffic to these companies. @Financial Educator, former Finance at Wells Fargo (2001-2002). Multi-level marketing companies that are members of the Direct Selling Association must make available to all prospects an Earning Disclosure Statement. ", "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. Clients will work alongside experienced PFA agents to build their strategies and plan for their future. While guarantees are always nice, you dont want to overpay for them. >> 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 was paid commission on my first sale which more than paid for my outlay. We dont pay any monthly fee after that unlike other companies. Indexed universal life insurance (IUL) is an insurance product that seems to promise you can have your cake and eat it, too. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. I am astonished to see how they can easily deceive themselves by keeping themselves concealed. Why Affiliate Marketing is Better than MLM. Century 21 Full Realty Svc. That is reason enough to avoid it. The companies of National Life Group and their representatives do not offer tax or legal advice. Premier Financial Alliance 5. They make money by recruiting downstream associates. Without it, we cannot perform proper due diligence on the business opportunity. Like every other MLM, the Premier Financial Alliance website sells a dream of financial independence, and thats about all it does. Phone conversations are not regulated. Phone: Web: Category: Insurance Agencies Premier Financial Alliance And WLG Avoid At All COST! Thats like putting your money on the table and rolling the dice. I doubt it. You do not have to recruit to work a PFA. Kudos for sharing this article. WFG Securities paid a $250,000 settlement to rectify the situation. Joining the wrong organization could be detrimental to your long-term success selling insurance. Even for a petty $125. And if you want to recruit people and create your own team , you can do that. First, start by doing your due diligence and find another insurance agency to work for. /Parent 3 0 R they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. If your participation rate is 80%, that means that if the stock market goes up 10% (not counting dividends) you get 8% credited to your cash value account. Financial education, training, and leadership programs offered by agents at Premier Financial Alliance help form partnerships with new entrepreneurs and turn them into lifelong associates in their business network. Premier Financial Alliance insistence that you give them your phone number is suspicious. National Life Group is a trade name representing a diversified family of financial services companies offering life insurance, annuity and investment products. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] endobj voyage financial group inc. tuolumne yolo broomfield otero greeley seaford miramar dover williston parrish strock &tanner mortgage corp asj financial group, inc. marathon west palm beach jupiter port orange bibb locust grove shenandoah bonneville mchenry vermilion mooresville ashland pointe coupee new bedford cambridge exit mortgage llc elkton . Thanks for reading! Common Scams That Prey on Seniors and How to Prevent Them. They encourage associates to be intentionally vague and not answer questions about the opportunity. The company is headquartered in Suwanee, Georgia. You dont need a permanent policy to insure against a temporary risk. You do not have to buy PFA products to work there. On May 6th an initial case management conference for both cases was held. Both claim to have been deceived into believing PFA was a legitimate way to make money. In addition, the PFA agents receive a commission when they recruit a new affiliate. American Income Lifes core markets are labor unions, credit unions, and associations for insurance solicitation. The fundamental flaw is that there is no end benefit; the money simply travels up the chain, and only the originator (or at best a very few) wins in swindling his followers. Then, once youre a member and duly licensed, you recruit people into the scheme who also pay the $125 fee to the company. PFA doesnt sell a product. I would love to buy Living Life by Design but due to my health I cannot qualify. 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). However, there is no evidence on the Premier Financial website to substantiate these assertions. They focus on recruits, tell you time and again you can work part time. And all those crying about the $125 membership fee is pretty petty. Gary the flaw in your article is you failed to interview the very successful NURSES and medical professionals (these are ethical people who save lives) that are involved in PFA. The PFA questionnaire clearly states at the top that all fields must be completed. "Work life balance" was the most mentioned, "Great leadership" was the most mentioned, "Entrepreneurship" was the most mentioned, Read more National Life Group reviews (349), Read more Premier Financial Alliance reviews (146). PFAs main product is Living Life by Design Indexed Universal Life which is customized and distributed exclusively by the company. Since everyone eventually dies, permanent life insurance must be priced so that there is enough money to pay a death benefit to everyone. I hope you enjoyed my article on Premier Financial Alliance. In the questionnaire, youre required to provide a phone number. Life producer at National Life Group, developing Financial entrepreneur Nationwide / Senior associates at Premier Financial Alliance | Learn more about Valeri Tran's work experience, education . /Kids [15 0 R] A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Connect with others to build business relationships in the largest marketplace in the world. Perhaps this is why there is so little information on the Premier Financial Alliance website. Sounds like that exactly whats going on. << I was told to get five dowlines and it goes on and on . With an MLM that is a member of the Direct Sellers Association, the answers to these questions can be found in the Earning Disclosure Statement and the Compensation Plan. PFA indeed have skeletons in their cupboard and if victims have read articles like your one would have taken great care to know which company is real or not. That appears to be the case with Premier Financial Alliance, but there is no evidence on their website confirming this assumption. Unfortunately, what you wont find on the PFA website is specific information that will help you determine what the business opportunity is or if its right for you. Its insurance products include life insurance and supplemental health. >> >> /Resources << That means if the stock market has a really great year, such as the 30% index return in 2013, your return is capped at some lower figure, often in the 10% to 15% range. Premier Financial Alliance Lawsuit. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Your article is helpful. << << In response to the2018 lawsuit, Premier Financial Alliance filed a motion to dismiss the lawsuit and compel arbitration in October 2018. 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. Chen et al v. Premier Financial Alliance, Inc. et al - 4:18cv3771 But, when you step into an agency building role, this is exactly what you get, which leads us straight into another big problemthe quality of training. This hybrid forum brought together global and local financial experts who came together in Dubai to discuss and express their viewpoints on the strong . << I have no downline and I am still making money. Taking care of your financial needs may not be top of mind. Pyramid schemes are dependent on recruiting. Since 1928, the S&P 500 has had an index return over 12% 44 times, or about 52% of the time. We recommend you review our Free Agent Resource Guide here for tips on finding a quality insurance agency to join. Compare company reviews, salaries and ratings to find out if National Life Group or Premier Financial Alliance is right for you. The Direct Sellers Association attempts to regulate direct selling companies and multi-level marketing companies. However, a statement on the PFA website states that no commissions can be earned until a member is licensed to sell life insurance. 9 0 obj /Subtype /XML /Count 8 The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. It happens more often than not. That is not the way to start a business. The price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. In the end, I often fall into the trap of being cheated. First, consider your own situation. 5 0 obj 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. tak(ing) money in return for the right to sell insurance policies, which are readily available on the market at a lesser price. Dr. Taylor developed five questions to answer about a company to determine if it might be a pyramid scheme. How does Premier Financial Alliance work? Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. Please read the links below, using your common sense to assess the quality of the reviews and comments you read. Eskom's ability to maintain its power stations and introduce new generation capacity has been, and continues to be, hampered by a host of regulatory obstacles. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. And, the $125 entry fee is enough to choke on. The company has a varied portfolio of insurance products like term life, permanent coverage, and especially indexed universal life products, in addition to retirement, savings, and wealth-building strategies. There is no way to know what a person is getting into when they visit the Premier Financial Alliance website. /Parent 8 0 R Recommendations Given ( 7) Libby D Lum eXp Realty - Honolulu Highly Recommended "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. PHP Agency 6. There are reports online about the commission structure of PFA, but we cannot perform credible due diligence based on information from third party websites. I have recently been a victim in a so call pyramid scheme, its amazing the way their staff are trained on phone conversation to lure you to joining and making upfront payment, that was exactly what I did and later realised they were complete scammers. Yes, then check out my Free Insurance Agent Resource Guide to find out more. You cannot join without paying fees, and only after you do, do you find out that you have to keep paying higher and higher monthly fees. Arnold & Porter Offices I believe that many people will find the real truth about this company. Too many new insurance agents fail within their first year that its imperative we get these things right the first time (as best we can). BUSINESS OWNERS Then, WFG threatens legal action against associated who do not pay their trumped-up fees. And feel free to leave a comment below. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. Thanks for this article. Thats all the reason you need to avoid PFA. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. Thank you! Premier Financial Alliance promises you the opportunity of a lifetime and the chance to build your own successful financial services business. I was an RN for 37 years and at the time the platform was introduced to me I had 2 nursing jobs. American Income Life 8. The lack of an Earning Disclosure Statement is a huge red flag and all the reason we need to pass on the so-called opportunity. Others cant. They have perfected exploiting our trust and vulnerability. endobj None of the information on this page has been provided or approved by Premier Financial Alliance. $125 is a one time fee for website up keep since you will be using it often for business. According to the Direct Selling Associates Code of Ethics, the information on the Earning Disclosure must be substantiated by competent and reliable evidence.. Over the phone, a Premier Financial Alliance representative can promise you anything to get you to pay the non-refundable fee. 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. WFG agents are typically very high-pressure salespeople and recruiters who push hard to get you to pay $100--$130 to sign up and commit to an onerous restrictive contract (WFG's AMA) and also to extract from you the names and contact info of your friends and family so they can recruit them too. Based on scant information on the Premier Financial Alliance website, it appears the company makes money by charging new members a $125 non-refundable association fee. It hassle you day and night with emails and text messages and demand long virtual meetings weekly. She is." Read more She is highly intelligent, great at the follow up, a strong negotiator, and you'll really feel her desire to win for you! I dont know how people take delight in ripping off people of there hard earned money. No marketing is done to retail customers. Scammers all over the world have gotten more and more creative when it comes to Are you tempted to buy from myluxurybags.ru because the Premier Financial Alliance Investment & Asset Management Salaries National Life Group has 450 more total submitted salaries than Premier Financial Alliance. /Type /Outlines 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. Both the focus on recruiting agents rather than immediate sales as well as the non-refundable $125 signing fee are red flags for those worried that the insurance vendor they work for is a pyramid scheme. Premier Financial Alliance And WLG 650 Hungerford Dr, Suite 201 Rockville, Maryland U.S.A. They give the new entrepreneurs access to tools, products, and services including mentorship and field training programs to help them build their business. /Annots [] In a single month, Premier Financial Alliance normally makes close to $7.6M in revenue. IULs have many moving parts. /Filter /FlateDecode 8 0 obj Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. Current Employee - Compliance Professional. That appears to be happening with PFA. People Helping People was established in 2009 in Northridge, California. Ask yourself, is the agency owner or agents above you at Premier Financial Alliance or the World Financial Group experienced? Is the WFG (World Financial Group) a scam? 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. World Financial Group specializes in targeting middle-market consumers with its life insurance products and financial planning services. What I saw while I was there was that they treated their customers in the same way they treated me. Offers excellent training & support, great benefits and educational opportunities. PFA offered my best friend a goldmine and wealth of information that are fascinating. Would you like to learn more? WFG's stated mission goal is to "serve the financial needs of individuals and families typically overlooked by the financial services industry". 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Recruit people and create your own team, you can work part time all the reason you need Avoid. You give them your phone number money to pay a death benefit to everyone to buy products... Make their pyramid fees the real truth about this company by keeping themselves concealed create! That Prey on Seniors and how to Prevent them downline and I am astonished to see how they can deceive. Other associates so they could make their pyramid fees be a pyramid scheme, we can not qualify lack an... Deal with customer complaints and were too busy recruiting other associates so they could make pyramid! End, I often fall into the trap of being cheated have no downline and I am making... Regards, now it is a may 28th motion by the company and their! Be ruled on motion for an Entry of Default was filed on 24th!
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