World Financial Group

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1 stars
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Category: Business & Finances

Contact Information
California, United States

worldfinancialgroup.com

World Financial Group Reviews

Eagle eye! June 7, 2011
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.
PrawFessie March 7, 2011
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!!!
Shoon4774 February 9, 2011
Scam
World Financial Group is a straight up scam. First they ask you to come to a meeting about a possible job in the insurance industry. Then when you get there you see it is nothing about a job, but rather is a whole bunch of people hopping around and spouting off about how much money they make.

Secondly, you will be asked to make and appointment for an interview for a position with the company. This is not an interview, but really is a bulls*** session where they ask you about your life goals and then try to use those goals to trick you into giving them money.

Thirdly, they will ask you to come back for a training session. When you get to this supposed training session all you hear is more garbage about how much money you COULD make, how you need to pay them money for certification and a background check and fingerprints, and how you need to bring in three to five recruits a week.

This is not a job. This is a scam. Do not give the representatives of this company any money. If you need a job go interview with a company that does not ask you for money, or invest in an education for yourself.

I never once gave this company money. I went to three of their 'meetings' to see what they had to say. Never once did they offer any type of training. Never once. They did, however, ask for money each time.

In the meetings that were supposed to be training sessions they never gave insurance training of any type, no real information. They did love to tout how their affiliation with big name companies like Hartford was real. Good for them, but association with legitimate companies does not make them legitimate or any less of a scam.

The individuals who run these little meetings that are supposed to be training sessions love to repeat how their company is not a scam and is valid because they are in a heavily regulated industry. They love to claim that they have very few, if any, sanctions or fees brought against them for misconduct and misrepresentation.

This is simply not true. Lookup their company record, especially look up their company record under their previously listed company names. You will find many inconsistencies with their claims and find some to be outright lies. Wikipedia has great information on this.

My best advice to you, other than to NEVER give these people money, is to agree to go to some of their meetings. Go. Take notes so you can remember what to look up on the internet later on. Write down the claims that they make and check them out. Look up written opinions and financial reports on this company as you research them.

Be sure to read information that is FOR this company as well. You need to hear the good things people say about WFG. You need to read and hear their success stories and RESEARCH them. This will give you a better picture of how people are brainwashed into this company.

You will find that getting straight answers is extremely difficult. Seriously, go to a couple of their meetings and you will find out. Of course, don't tell them you are simply checking out their scam. Just go and listen. Check out EVERYTHING they say and claim.

They will also talk heavily of how so many people think their company is a scam and how these people are only naysayers who don't want to make money. Listen very carefully to how they speak about people who do not like the company and who try to prove it as a scam. They will give every excuse from people being vindictive and subversive, to people being lazy and not really wanting to make money.

But don't take my word for it. Go. Go to a series of these meetings. Take notes. Do not give them any money. Have a really good laugh at a really good scam.
iwihaha February 1, 2011
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.
Conscience December 1, 2010
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 needed an insurance license.

The ads for this WFG have become increasingly complex this week. I doubt anyone, including agents, would

now recognize the description as a specific kind of commission sales position.

Be careful, even if you are licensed.
Georgio Armani September 25, 2010
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
ScammedVictim September 13, 2010
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 names, phone numbers, and emails of people close to me. They even set up a meeting with my boyfriend and I. Aren't they just hiring me? What would they want from my boyfriend? I later searched online and found out that they try to get this information to try and recruit people that you know well because these people trust you the most. World Financial Group is a huge scam!
Georgio Armani June 28, 2010
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 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.

http://money.cnn.com/magazines/moneymag/moneymag_archive/2000/05/01/278258/index.htm
mzsalisbury June 8, 2010
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 909-538-7585 just hang up on him immediately and run like hell.
Georgio Armani June 5, 2010
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.

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