i think its all dependant on leadership within any organization. I do work at wfg part time. i Make a decent income nothing crazy. But the support and mentorship i recieve from my leaders is second to none. ive double my income in my full time career from the associations with the firm. It's like any other company end of the day. there are some amazing agents out there. but there are alot of bad people as well. meeting the right person in any company can change your life.
That was my experience with WFG, pushing those million dollar IULs because that gets them a large commission. Their "financial education" they claim to offer is nothing more than 'mindset' training to get you to become an agent to get them commissions off all your sales.
The truth is most life insurance companies will make you make a list of names to sell to. MassMutual, new York life, northwestern mutual, western and southern, prudential, and more will make you list 100 or 200 names BEFORE you get a contract or job offer with them. Not defending wfg, but this is a common practice.
Exactly, We know that there are better options to start but as far as I know one needs a basic platform to start off. And I think WFG and many other companies provide that. Yes, it is okay if one doesn't want to work with WFG or any other insurance companies if they are too possessive of not ruining their reputation but it's not about the reputation or MLM scheme, it's about helping those families receive what they deserve that nobody is telling them....
I am an Associate with WFG and in one year plus, it’s been very fulfilling based on the exposure to trainings that my upline provides. I can now train my team about the products and services available to the benefit of my community. The income is equally worth the effort and mostly the opportunity shared to people that are around me.
If you have never truly used the platform you should generalize your approach on speaking about the platform. Their are 80 different companies on the platform to use, no one is forced to recruit its just incentivized, contract level starts at 35% and not all associates on the platform are advisors but you can use the platform to complete all certifications in finance. The platform gives you discounts on all training material and it’s courses. Not all the products especially the insurance products are meant for everyone. It is true most agents are not trained but that can be said about all financial companies. Recorded average income for license agents using this platform is $50k a year. You choose how to use your license and the information you possess. Take care of people and your community and in return good things will come to you.
They start you at 25% as Training Associate you have to recruit 3 people and sell 3 policies to move up to 35% as an Associate. The system force you to recruit otherwise you will always be making 25%.
@@meryrodriguez4030 not true at all, just had a broker recruit someone from another company and she started out at 50% contract level. Sorry you had a bad experience.
Exactly! A lot of haters on this video who have no business commenting on what they don’t know about. Mind blowing, most of them probably called it a “scam” because they never got their promotion…or worked hard enough
Really? How do you make "the most" of your money at WFG: 1- By selling insurance products? 2- By overrrides aka passive income (the more associates [sell] under you, the more money..)? 3- Do you hold a "fiduciary" duty toward your clients? 4-Do you initially "target" friends and family? One might start a business and discuss with family and friends to get support but in no way a friend or family should be or feel pressured: that is why wfg agents frequently have damaging relationships with friends and acquaintances. WGF excels in training insurance "salemen" that in no way should be compared to true certified financial planners, accountants fee-only advisors that were actually appropriately trained for the job. As a WFG agent, you are not a business owner (like they make you think), you are an independent contractor hired by the company: very different If you want to unethically make money by selling products that do not fit most people like permanent insurances ( the reason why the highest commissions come from cash life insurance= bad products for most people) to become a millionnaire (assuming you climb the ladder): then that company is really for you. A real cult.
MLMs have been repackaged numerous times over the decades .. the same type of people fall for it… We attended a college friend’s wedding anniversary party , they quickly started chanting.. it was weird and sad…
Some people are successful in it, but me I had to quit because I felt trapped. In the beginning they hide a lot of info from you, and it is in the middle of the process that I found out this wasn't for me because I am not great at lying
The business model and intention of the company itself is very good-Help others in their finances to help yourself financially, while at the same time building your own business for your future and the future of others, with the help of trainers, teammates, and decent financial education. However, campaigners are lured into the business with a “get-rich-quick” approach, and from the start, they are hidden all the downsides, and they continue to hide them to others. Downsides such as this isn’t to get-rich-quick, but there are lots of campaigners who design life insurance policies for max-commission instead of the best interest of the client. A lot of the times, WFG agents are either uneducated, illiterate, ignorant, lazy, or just plain unethical and don’t even know or willingly don’t tell how their insurance products work-they just sell with the same sells pitch they were sold with. I realized this as a campaigner, but I wasn’t discouraged. Instead, I saw the opportunity to do things right, and more professionally with like-minded teammates because we are “financial professionals”, and that name carries a lot of weight.
Anyone who encounters this comment, please ask yourself this. Who is a more reliable resource of accurate, unbiased, factual-based information: Chris who has his CFA (Charter Financial Analyst) designation and former financial advisor or all of these other commenters who aren’t legally allowed to call themselves a financial advisor? This was highly informative and I appreciate you for shedding light into this issue Chris
They told me to attend one of their free courses , when I introduced myself I stated " hello , I'm excited to learn about financial freedom and Being a free course I'm expecting not be sold anything or joining any group" You can imagine how that went
What Christopher leaves out in his “opinion” hit piece is that there are over 200 million Americans who literally live paycheck to paycheck, barely making ends meet, not having the ability or knowledge on how to save $ because they are either working for someone paying them a pittance, or self-employed & unable to create more income because becoming an employer has become such an arduous task. He also leaves out that WFG has perfected a system to help agents create & build their own business that is now being COPIED by 100s of other companies, because it is SO effective. The system helps people grow their own business effectively, that’s why the system is in place. Christopher also fails to mention that if you were to join ANY life insurance company they would push you to SELL life insurance (with warm leads and all the other things that turn him off). WFG specifically trains you NOT to SELL. They train you to help EDUCATE prospects, all while giving same prospects the same opportunity to build their own WFG agency. All this is FREE. WFG’s goals are to help educate as many families in this nation to be independently wealthy, with a noble purpose to help one another. No other life insurance company works off those principals. They tell you to go out and sell. WFG tells you to go out & educate & help. BIG difference! It is all a mindset. As I mentioned, it’s a system that is now being implemented by 100s of other companies, copying the exact WFG platform. Christopher literally tells you that WFG is NOT a scam. It is NOT a pyramid. You don’t have to buy anything to get involved. They train you thoroughly, they inspire you daily, they give you access to over 100 companies with 1000s of products for every financial need for the common person. Do not be misled by him telling you this will not create you personal wealth. I personally do not know anyone who has dedicated themselves to the WFG system who isn’t making more than they were working for someone else, within just a couple of years. WFG creates inspiration! WFG creates a mindset that will help anyone realize their true potential to build on their own dreams. Imagine we have 200 million people needing financial literacy (something they do not teach in school), and Christopher disregards that basic fact. The TOP 1% have their financial advisors who will not even speak to a prospect without charging a minimum of $1k for financial advice, people who work at JP Morgan or Merrill Lynch, Charles Schwab etc. WFG is made for the middle class American who needs help, not for the wealthy who can drop $$ on financial advice. Every agent I have come across WFG has an inspiring story. 99% never started in the financial business. Most were employees at a retail store, owned unprofitable businesses, were self-employed & unable to grow, because the WFG platform is a system created with the middle class in mind. Shame on you for taking your time to writing such nonsense. You come off as some Wall Street pompous pawn, trying to discourage millions who can use WFGs help. You are not helping the masses. You are in this for your own personal glory. 80,000+ WFG agents whole heartedly disagree with your attempt to discredit their mission. Their mission to help educate as many families realize their true potential, to realize they too can build wealth, regardless from what background they come from. WFG is literally the American Dream.
you are 100% correct. I have a brother who has been with WFG for 25 years. He was in the right place at the right time when Humprey lost his licenses from the SEC. My brother and a couple other guys were at the top level when Trans,,,, insurance bought out Humphrey. All they do is recruit every day, every hour.
With any business, you get out of it what you put into it. Most people want to be compensated for their time and put minimal effort . That is why the top 5% have 95% of the wealth. Through Quantity, you find QUALITY people who can change their life and the lives of others. Bottom line is everyone needs the products and services, and working in the warm market saves millions in advertising expenses. I've talked to other agents who make hundreds of calls just to get a handful of appointments. The building and compensation model is second to none. Also the commission percentages are way off , top contract is much higher than what you mentioned but the biggest benefit is that it is a builders contract in which you get to override you agency for life. Thank you for the video and giving an unbiased opinion.
I agree. I heard the commissions percentages and was like, "What did he say?" With the whole friends and family thing, this is just my opinion, but any business you start, wouldn't you go to them first anyway? Whether simple or complex, if you believe and know your product, your family would be first as an entrepreneur. If I made cookies, I'm selling my cookies to them first and have them refer. If I was selling Scentsy, Amway, Herbalife, Mary Kay... you get the point. But, at the end of the day, it just depends on the individual. I've been with WFG for almost a year, and it was the greatest career decision I made. But, again, it fits me and my plans for my future. Great post, Brandon! Maybe I'll run into you at the Fort Worth convention this year. 😊😊😊
100% agree. every person you know becomes a potential client in your head. Their mission is to plan seeds in peoples heads to try to make them buy something or have them recruited.
That's how it works in every business. Why do you think TV programs are full of ads? To make every watcher a potential client. This is the mindset of money makers.
@@lucdo1278 Nobody is forced to do anything they don't want. We all have free will to make our own decisions and take what we want and leave what doesn't serve our highest good!
Network=networth you don’t have to be a salesman and if you learned a little about WFG you would know we don’t sell. We educate people on what is available and how it works. If they decide to buy great, if not great.
I like the bait and switch you did here. You started all respectful of the company and then delivered killer blows left and right with your analysis & commentary. Nice! Too bad that 2 friends are in WFG. They are young professionals so are thankfully not in debt but the life insurance policy they signed up for is demonstrably ridiculous and a complete waste in my opinion.
i’m not an agent or represent any thereof, but i just found out my wife has had life insurance for 20 years contributing $120/month and has had growth almost $100k. people also consider life insurance as an investment, the safest (untouchable by creditors or market fluctuations) but the slowest in gains. so, it’s bot a waste if you opt for an IUL type from any company.
@@shanefoster5305 I agree 100%! Unfortunately he does not have the balls to grind and be successful in an MLM environment so kudos to those that accepted the challenge.
Every business you start, the first step you take is Recruiting. Without recruiting you can't build your business and that is what we do in WFG, we help families save and earn money. We only educate people and just to tell you about salesman, If you are working anywhere, you are a salesman for that company and you are working under that company but WFG gives you a chance to build a Business and help families save money. OUR MOTTO IS :::::: NO FAMILY LEFT BEHIND
The system in WFG is nothing but a process you follow to build a brokerage firm. Think of McDonald's, if you buy a Mcdonald's franchise, they have a system or process you need to follow to make burgers, drinks, etc. WFG does not have its own products, they market products from different financial institutions like BMO, IA Financial, etc. WFG is a financial distributor which gives customers more options to select from products from many different financial institutions based on their need. You tell me one thing, which business is without commission if you buy a car the car dealer gets a commission, if you buy a house the realtor gets a commission if you buy insurance from any other brokerage firm they earn a commission. So if the agent in WFG get some money from the sale it's called commission for her/ her service to the customer.
The question is as a client, will you get a useful insurance product or just wasting your money？ Walmart McDonald they sell the product you really need,food and stuff there s no possibility to get scammed. As an agent there, how much percentage commission do you get compare to independent insurance brokers or any insurance companies advisors？ Third is what's your main job？ if recruiting ppl in your team makes more money than you selling the products to clients then it's not a legit business
I just turned down an offer from them because I was told repeatedly that there would be only a 155.00 fee for the licensing. Makes sense. But upon looking into them there are other fees like for the background check and study materials as well as having to purchase a plan through them and becoming a client. I don't have the resources for these kinds of fees and the recruiter telling me repeatedly that the only out of pocket cost is the 155.00 is an outright lie. I couldn't afford the licensing until this coming Friday so my recruiter let me sit in on a training sell. That's how I found out the name of the company which was not disclosed to me in anyway
this is incorrect. training associates make 30% , associates are at 45% marketing directors are at 62% and senior marketing directors are at 80%. WFG insurance agents are individuals contractors that represent over 77 different companies like Nation Wide, Prudential, Mutual of Omaha. As an individual contractor you are responsible for educating yourself and your team.
I just got my insurance license. My friend who works in WFG wants me to join the company. I dont mind joining WFG but I must be able to work for another insurance company at the same time. Is it possible? I want to also work for Family First Life
@francollinz WFG is not captive and holds no quotas, so yes you could from WFG's point of view. But, conversely, the company you work for outside of WFG may be captive and have quotas, which will be problematic.
Thank you for making this video. I was in an MLM business for couple of years and then I quit. WFG has the same model, therefore I stay away. It is a trap. Your success depends on your down lines. Everything you said is honestly true. 🙏
That’s actually false your buisness doesn’t depend on your downlines you can just help families with their insurance needs. There are many agents who don’t grow their teams and still make a lot of money. All the stigma around wfg is from people who have either tried it and not done anything to make money and decide wfg is liars, or people that think it’s a get rich quick scheme and expect to make money the second they start.
@maklarson1817 Truth! Wfg is an amazing business opportunity. It's not for everyone though. You have to put in the work to make money! You also only get paid when you help families. We don't make money off recruiting. Wife and I are really excited for our future with WFG.
as in any business your success depends on your ability to train and lead people, and if you spent time with this organization you might have become a leader through the love and dedication of your upline.
Thank you for this video! I was pitched a job and didn’t realize it was an MLM until I was already in the meeting. I was wondering why the associate was trying to recruit me as I had no experience or education in this field. So sketchy!
Yeah they're a MLM posing as financial advisers (which legally they cannot say because they are not qualified). Tell them you lost your job and they will stop calling you!
Glad it helped Emily! Yeah that's happened to me before with so many MLMs. My MLM radar is pretty good these days though I haven't been tricked lately :)
@@jelin5233 They don't say they are financial advisors. They say they are in financial education. Which they are. They do teach principles of investments and insurance. They explain IRA's and 401k's and more. They ask questions to find what a potential customer is looking to do with their money and then offer products that follow suit. You don't need experience in the industry because they do all the education for the business for free. Also I am currently working with someone who doesn't have a job and he is already making money from WFG. Go figure. Wrong on all counts. Sounds like you're a Troll to me...
@@shanefoster5305 Here's an article on the issues with UL life insurance: www.newswire.ca/news-releases/half-of-canadian-policyholders-are-being-sold-a-costly-life-insurance-product-that-most-people-don-t-need-853899709.html CLIFF NOTES: Why most Canadians should avoid permanent life insurance: It's expensive - Costs 10x term insurance. The client will overpay during the first early years. Difficult to understand - Many complex or hidden fees in the fine print. Limited returns - Earnings lower than in TFSA/RRSP earnings after fees. Illiquidity - You can't reduce your monthly premiums if you're ever in a cash crunch. Potential of lapsing - Nearly 88 % of universal life policies never pay a claim. Why? People eventually can't afford the premiums temporarily.
Things can learn. i think if you are in a good team. You will learn a lot. A lot of other insurance company are the same. Insurance company turn over rate so high
Lmao. I was approached by a gas station employee the other day talking to me about WFG. Knowing that I take an interest in finance and all, he asked me if I’d be interested in joining WFG and taking courses to get a license to sell their insurance products. I asked him what I would do (wondering if I’d be making calls basically) and he said no. He said all I had to do was recruit three people below me to sell. My first question was, if I can’t sell insurance to people around me because most of them already have trusted insurance policies, than how are other people that I know going to be able to. He told me that it wouldn’t matter because if they were willing, they would find a way to and all I’d have to do is sit back and reap the benefits of it. Immediately I thought pyramid scheme. Especially when he told me that one of the three people under me should also have three people under them… he was pressing really hard for me to join some zoom calls, and even showed me a paystub for 100,000$. Safe to say I was already extremely sketched but after doing a quick TH-cam search on WFG that I’m, as the sharks put it “I’m out”
Don't allow your experience with that one person to deter you. I get your skepticism, but do your research. There are people within WFG who are definitely committed to helping people shift their financial status and build generational wealth. As far as the pyramid scheme goes. If you've ever worked a job, you've technically been apart of a traditional pyramid structure. The difference is, your boss doesn't sit down with you and teach you how to do his/Her job. You are restricted to a set salary, and hour. The 40 hr work week is the real scheme. Shift your mindset and be open
@@DJShanto1 Oh how time can change so much, I'm very glad you pointed me back to this comment, I have since that past month joined, and on my first day of passing my Tests, I managed to earn 1 Billion USD. It was amazing!! it really goes to show that if you can convince everyone you know to join under you, you can definitely make an amazing amount of money!! this was in 1 Day mind you!! i've been steady earning millions since that fateful day, and let me tell you the experience is fantastic I think anyone curious should join under me to get proper guidance on how to run their business
Great commentary. I liked this guy's view on WFG. It is more balanced unlike some other videos I have watched. He doesn't recommend it himself which is just fine. Other people prefer the fact that WFG provides you with the opportunity to train and manage a team that will pay you back dividends in the long run. But he is right, it takes a lot more work to get started in WFG. The reasons why the commissions are so low is because your trainer is getting paid from your commissions. This incentivizes them to help you develop your own book of business. Other professions like real estate agents don't do that and so getting someone good to train is way harder and they will extract their fees in different ways.
My future brother-in-law is into WFG ugh. It's super cringe seeing him posting about his financial success / side hustle on Facebook when I know he's just a low level member. I bumped into his recruiter once at his house and wow he was just OOZING sleaziness. I wish I could bring up the MLM-aspect of the company but each time I do, my future BIL and MIL get super defensive.
What I do not like about wfg is that they basically tell you that you don’t have nothing going for yourself, you should quit your 9-5 and you have a small mindset if you have any different opinion than a worker from Wfg. It’s aggressive , it’s horrible costumer service and all of the above. May not be a scam , but they don’t spend a lot of time training their workers / recruiters. Overlllyyyyy aggressive.
I was never told to quit my job. Most the trainees have jobs and work with WFG on the side. I agree with the aggressive nature, its pretty intense. However, you get what you put into the company. I disagree with the lack of training that's provided. There are many, training classes that happen, the problem is, that people may not go get that training. I am an honest person and fourth right person and I know in my case I would never guide a person for more than what they need for commission. That's not what I was trained to do. No family left behind and the educational value that people gain is explosive. People are dumbfounded about how they can save for their families with even small contributions. The model is quite MLM definitely but its dependent if you want to make a business out of it. In my case, not at the moment. I have a regular job, its a nice side hussle though.
I really do not know about any financial center of WFG that will tell you to quit your job. Now that is misrepresentation and my leadership provides adequate training to get the job done. As a black community, we really have to liberate ourselves financially and I have not seen any platform or campaign that does this than World System Builders (WSB-WFG). We are not telling ourselves the truth and want to be part of the statistics and still blame the government or someone for the decisions that we make. I wish I can have a one-on-one with you and address most of your concerns. The greatest miracle they say that could happen to anyone is Mindset. Change your mindset, change your future. Shalom
I went to one of those recruitment seminars, felt like a scheme, and the minute they wanted money for a background and couldnt explain what it is i would be doing, so I opted out, and the staff became angry and hostile when i wouldnt fill out their info card.
Once licenced you can use that at any company. I am also in the proess of getting licenced. I understand MLM very well. I just went in to get the certification. I have a good client base already from my other profession. I am going to learn and study the products for a while before selling anything. Esp ULI products.
The guy I just knew, he kept calling me and trying to recruit me. I thought I made a new friend, but it turned out not really nice. Scheme or not, this game always starts from people you know, your friends, family, classmates, etc.
Exactly!!In the past few days two of my acquaintance have approached me with this.They are very aggressive and that set off some alarm bells.They want to make you a seller and also a client.I won't want to lose my friends because am looking for money.
Good presentation .I was basically told my friend he earned 14000 CAD comminsion in 2 months .I started questioning my work or my career .i firmly believe they make u believe that what they are doing is gonna make us rich .while they are desperateky wandering around for people .I am more confident i can do much better in my career or starting my own business rather than part of team which makes you awkward socially .
It really depends on your goals, if you love investing and finance maybe doing the course and getting licensed isn't the worst idea, especially if you can't get a refund. You can always change companies later if you don't like WFG.
I was never told to quit my job. Most the trainees have jobs and work with WFG on the side. I agree with the aggressive nature, its pretty intense. However, you get what you put into the company. I disagree with the lack of training that's provided. There are many, training classes that happen, the problem is, that people may not go get that training. I am an honest and fourth right person and I know in my case I would never guide a person for more than what they need for commission. That's not what I was trained to do. No family left behind and the educational value that people gain is explosive. People are dumbfounded about how they can save for their families with even small contributions. The model is quite MLM definitely but its dependent if you want to make a business out of it. In my case, not at the moment. I have a regular job, its a nice side hustle.
Thanks for your review! I was confused about the offer as many people told me it's a scam. But I'll give it a try! Anyway, it doesn't hurt learning new things.
Exactly. We all have both part and full time jobs while navigating WFG. Except for those who do the biz full time. Like anything there will always be trolls.
@@anhuynh4361 don’t be. You get out what you put in. Like the video said it’s not a scam . He just die like what he doesn’t like. It’s people like that who cast doubt in people s mind in other to pitch to them. If you know of Ed Mylett, he’s a agent. Just saying. It’s mot going to happen overnight. But trust the process. Trust in your abilities to make it happen.
You present a very good description of what I am the process of going through. My daughter (44 yrs. old) got involved with and became an agent of WFG. She is being mentored by a representative that is located in Los Angeles California. My questioned to you is if you think their is a better product than "The Athene Ascent pro 10" for getting an income, when I turn 78 yrs. old in 3 years? The amount I am considering in buying the product is $350,000. ?
Please learn about passive income and edit videos again. If you’re broker you can not forget this topic to mention that outside brokers have to find customer do advertising and lot of other headaches which is not there in WFG. Give whole information if you’re reviewing something. WFG changing lives, Wish you a good luck. Any business takes time to Grow, it’s not overnight ✌️
I recruited 2 1/2 people before i realized it was a scam. I reimbursed one of my friends the $100 fee, crying my eyes out bc she had been in tears herself looking for a way out of her job and was hoping this would help her. I had no idea what a pyramid scheme even was. She told the wfg agent that she felt it was a scheme and the lady tried to reassure her it wasnt. Like I said, once I realized I was wrong, I reimbursed her. On a separate occasion earlier, I was then told to go on a practice test with a client to bring them to WFG. The agent told me this was part of my training or something like that and they said I could bring a friend, anyone. I brought my coworker/friend and she sat through the “financial education” the agent was giving, which was really a brief overview ab how much she could be making as an agent herself. So at the end of the session, the agent asked her, “So are you thinking about joining? Would this sound good to you?” My friend was like “no. I just want to get married and be a stay at home mom.” The agent then started pressing her, “But do you understand that…?” I was getting embarrassed. Thankfully, my friend never joined and she now works as a teacher. I saw the agent who fooled me one last time at the grocery store. I was a little dodgy with our conversation and after our conversation she texted me something like “hey, u looked sad last time i saw you. I hope everything is alright with job. Just know you can always come back.” BLOCKED AND DELETED. This whole experience made me so angry bc everyones time and hopes were wasted. I was in target a few months later when i overheard this conversation between this couple talking to this guy ab their “job” and how great it was. They even got his contact information, thinking they were ab to get laid. I walked over to the man and asked “Sorry, I was being nosy, but did they ever say WHERE they worked and what they actually do?” He looked at me blankly and was like “no.” Thats bc in training we were told to not tell people what we do so they dont ask too many questions. I kid you not. “Did they tell you the name of the company they work for?” I asked him He told me no. Man, listen, I went IN and told him to watch df out and told him everything that happened to me and the tricky obscurity of “WFG.” I never got too deep with WFG but I did notice that the higher ups were inappropriate with women, including myself. One man, MUCH older than my early 20 hear old self, who was also a nurse, married and a grandfather looked me up and down and said “you look very pretty.” He did this twice on separate occasions and would ask if I am mixed (Im not). Often times, before the weekly meetings started, we were told to socialize with random people. It was forced and everyone would be smiling and fake AS HELL. Then they’d pass you off to higher ups, acting like everyone is so accessible. I was passed over (literally) to one higher up who, while facing me in conversation LITERALLY stopped engaging with me to look at a young female behind me. It was the rudest thing ever. Two people around me who were much older warned me ab the company and we sat down for coffee and researched the controversy. I’ll never forget in training we were told “dont listen to the comments and articles about us. Listen to what WE are telling you” which is scam and cultish rhetoric. Know the signs and avoid these kinds of recruiters smh
I just know the company as well but i gotta ask. How did they scam you and what exactly did they scam you ? I have read your story and the experience you went through was true! But i still dont see the part where they scam you. I meant for me, every job does require experience and license, so it was fair to get the license here. So i dont really have complain to that. I always dont believe in Insurance but I actually end up buy one myself ( i dont want to explain why but it actually suit for my situation as a single mom , i bought Ul 20 and decided to leave it for my kid and my parents ) I haven’t recommended anyone to buy insurance because for me, not everyone needed it. I like financial and i do trade stock too, so I just help my friends with a few simple case like open account RRSP or RESP and TFSA. I don’t get pay that much but when i help my friends with those account and saving them a few hundred bucks on tax ( which is not illigal) i feel happy Now reading this I am not sure what todo 😢 i meant i havent done anything wrong and by eyes, i havent seen anyone in the company doing the wrong things. Wfg is considering one of my partime job so idk… you are the part of why i dont recruit and decided to be forever trainning associate 😅…. But really. What is wrong ?
@@Junny964122 There are good and bad people in any business, not just WFG. Don't let strangers on the internet influence you, do your research with the government and banks.
I wish I have your confidence. I got duped $7,000.00 by a Filipino couple from Bolingbrook, Illinois. WFG said I cannot get my money back because I could have been paid full insurance during the time I had the policy. There is a reason why they turn off comments in their official TH-cam channel.
My friend invited me to a WFG zoom call. She's pretty excited, but I told her I needed to do a little digging. I'm glad I did. What you said makes a lot of sense. I know my friend is very excited about joining, but I'll share your video with her anyway. Thanks!
@@Ty.88 like any business you have to put in your time...and also tell me why is ed mylett so successful? He's done the business and gives the blueprint. I've learned not to follow the advice of the masses!
At other companies you may get 100% compensation but you will be associate and you will be self-employed, WFG offers you a chance to build a business in Financial Industry. Compensation might be low at associate level but at SMD level your compensation is 66% plus you have licenses who are working for you and giving you the passive income. At SMD level, on top of 66% you get quarterly bonuses also. In other companies you are just working as a self-employed. If you want to be self-employed go work for that company, WFG is not for employee mindset people, This company vision is big which employee background people won't understand. They just need 100% FYC, so go get it and be self-employed for whole life
Very good breakdown. I own a fee-only registered investment adviser (RIA) in the States. I have unfortunately seen a lot of the ugly that can come from working for WFG or buying something from a WFG agent. And really nothing good now that I think about it 🤣 What bums me out is most agents are well-intentioned but are indoctrinated into WFG’s MLM recruiting practices before they even know anything and are sent out on the street pitching awful products that they aren’t even fairly compensated for. I believe starting Associates are only paid 25% with the only way to “earn” a higher commission rate being through recruiting others beneath you before you even know what the h*ll you are doing. Companies like this and the agents they develop play a big part in the terrible reputation of the financial services industry. Even most reps don’t mean to, but they just don’t know any better 😪
most of the agents are has no knowledge about financial and just trying to add more agents..they will try to make people greedy and tell the people as u will make this million and that million ..but never shows any of the clients have made millions..you can see easily as all the agents are greedy indians ..
@@MrPauny Commissions is not the revenue in WFG, it’s passive income through royalty, dividends and capital gains. You can decide whether you want to work rest of the life making only active income such as commissions or choose to enjoy passive income business by building a huge distribution. We’re a business owner from day 1 and this opportunity is not available with any other organization in the financial industry
People are paying to get started with agencies who offer low compensation and a recruiting strategy to get higher pay, why?! When they can get higher comps with agencies who offer 100% or more from the start for free
Some of your remarks are very inaccurate. WFG is not the problem. It is the financial industry. Commission based system (also in real estate, mortgage, car sales and other industries) and MLM systems is the problem. it also depends on the WFG agents you meet. WFG agents are not financial advisors unless they have other designations like CFP. The client/prospect also needs to get educated too before investing or buying insurance with a WFG agent.
Very useful. Thank you. Glad I did due diligence, looked up WFG, and found your video. I was approached to be a customer and had some unease about insufficient information provided by the person who approached me.
You fucked up. WFG is not a scam. They use the MLM system but that itself is not an issue. The problem is a lot of shit companies use MLM to sell shit products they couldn’t sell otherwise.
Just literally finished a zoom call with WFG! But I think my answers were not what they were expecting, because 10 minutes after the zoom meeting started, the presenter was scrambling trying to end the call! I was told the meeting will last 40 minutes, by a friend who was doing their training! Welp!
I just finished my Zoom call, same shit happened to me. I was asked to gather my financial info on my previous call about mortgage and life insurance process that lasted less than a normal orgasm does. I got a call today, and nothing was discussed about my finance and just got directed towards training and licensing and call lasted less than 8 minutes.
So glad I took a listen. Unfortunately I already started the license process and paid the fees. At first I thought the training and certification was for financial planning but then I learned it was 100% insurance producer license and I was really upset.
Hey Andrew, I'm glad the video helped! Don't worry not all is lost, my advice for you would be to finish the insurance course, it provides a good base for investments actually. I'm guessing it's the LLQP that you have to pass (for life insurance?), and insurance products are good to know if you want to do financial planning. It doesn't matter if you pass the course at WFG or anywhere else, it's completely transferable. The CSC is the course you have to pass if you want to be licensed for investment products which you can do after. Insurance sales can be lucrative also, and it's good for your clients to have if it suits their insurance needs so it's a win-win.
Yep, WFG and its "financial planners" are really just insurance salesmen that legally cannot call themselves "financial advisers" which is now a protected term.
It is not a waste at all. If you get your license you have thousands of products you can sell for a good commission. Why is that a bad thing? It is absolutely financial planning. Has your team taught about the FFIUL yet? This is specifically for that purpose. It provides insurance and compound interest to grow that account. Maybe give it a chance and learn about the thousands of products WFG has the ability to sell. Did you know that even without a license and just with your membership you can make money referring people? Don't trust this opinion of this content producer who has only guessed at what WFG is and poorly guessed at that. Nothing in here is based on fact that is negative.
@@shanefoster5305 Here's an article on the issues with UL life insurance: www.newswire.ca/news-releases/half-of-canadian-policyholders-are-being-sold-a-costly-life-insurance-product-that-most-people-don-t-need-853899709.html CLIFF NOTES: Why most Canadians should avoid permanent life insurance: It's expensive - Costs 10x term insurance. The client will overpay during the first early years. Difficult to understand - Many complex or hidden fees in the fine print. Limited returns - Earnings lower than in TFSA/RRSP earnings after fees. Illiquidity - You can't reduce your monthly premiums if you're ever in a cash crunch. Potential of lapsing - Nearly 88 % of universal life policies never pay a claim. Why? People eventually can't afford the premiums temporarily.
i quit wfg and the other marketing company i went to afterward, i couldnt be the person i had to be in order to make it work, i dont smile and i dont talk with enthusiasm, something my leadership always stressed was necessary. i got tired of being phony.
My mother in law is going through a divorce and one of her relatives got her into it. I feel really bad because she thinks she life is gonna change. She's a teacher at a high school I don't see how this happened but I feel like they're being predatorial about her delicate situation. I've been sending her links and videos like this. I appreciate how you did yours you have no biased your going straight down the line. Thank you for the information
Sadly, WFG and it's associates have been fined for shady practices like pushing policies in senior homes and misrepresenting themselves. Just read their Wikipedia for a long list of fines and infractions. They also love going after new immigrants and foreign families. Your case does not surprise me one bit as it fits their predatory practices.
@@jelin5233 There isn't a long list of fines on their page for their work. There is a very small fine for individual business owners misrepresenting WFG but very few compared to other insurance sales agencies.
Unfortunately this video is mostly opinion and very little fact. The opinions represented here are not based on facts, but on hearsay. So sadly this one is a waste for anyone wanting to find real info on WFG.
As an associate with the company, I like the fairly unbiased breakdown. The first thing I did when I joined WFG was search the internet for its reviews, and most of what you see there is nothing short of impulsive prejudice- people calling something they know nothing about a pyramid scheme, just because they have a vague secondhand account of someone else calling it one. However, when you ask them exactly what a pyramid scheme is, they don’t have much to say beyond ‘people at the top make most of the money’- and my first reaction is, you mean every successful business ever? I do unequivocally believe that a certain bit of skepticism is essential when it comes to buying into these things. Most of us aren’t intuitively geared to digest the idea that you can ‘get rich quickly’- and for all the right reasons. It’s important to note, however, that WFG does NOT advertise that you’ll get rich quickly with minimal effort. If one of the millions of employees did say that at some point, that’s not the ideology the company itself peddles- what it does say that if you follow a tried and tested system consistently, you will achieve results. And as you yourself pointed out, it lives up to that goal. The precondition that you follow the system, however, is a must. When we talk facts, we shouldn’t fail to mention these things- 1. Most people, including me, are reflexively wary of ideas that seem too good to be true, and that’s important, but when you’re prejudiced to the point that you’d rather resort to cheap insults instead of trying to understand, like most people instinctively do when they hear ‘wfg’, your opinion can not be relied on for an accurate assessment. (I don’t mean you specifically, because your breakdown was rather logical and unbiased). 2. WFG is legal and as you pointed out, heavily regulated. It’s not a scam, it’s not a pyramid scheme, it’s legitimate. It has official partnerships with major banks and insurance companies, and that’s not something you get for being a scam. 3. It really does change a lot of peoples’ lives for the better. Hearing rags to riches stories can be rather corny and it can be fairly difficult to believe that these things are possible, to the point that we rebel when the ideas are suggested. It doesn’t just change its customers lives on virtue of them being consumers of the products, it also changed their lives on virtue of them being an employee within the company. The system, although morally controversial, really does work. On the other hand, if it wasn’t controversial, it wouldn’t be as successful as it obviously is. You’re right that their recruitment tactics can seem rather predatory, but having been here for as long as I have, I think I can safely say that the ins and outs are more than just material gains. There have been certain times where I felt like they wanted me to get on board purely out of self- interest, but I’ve also heavily witnessed that rejections are respected. There’s definitely a mild push on the fact that the initiative must be shared, and no mature person would deny that it stands to benefit those sharing the initiatives, but ultimately, they’re not the only ones benefited, and they don’t lie. As for the negatives, they do seem to peddle the connotation that other jobs are ‘oppressive’, and I find that notion slightly detestable. If your material success comes in return for you vilifying the entire job market beyond your own company, I don’t consider that success at all. Another thing I find disturbing is their narrative that ‘smartness and critical thinking are hinderances because in order to be successful in the business, you must blindly follow your leader’. This is kind of thing you expect to hear from someone who doesn’t want to be questioned, because he knows he doesn’t have the answers. And he can safely leverage that position against the idea that if you question, you lose. Because of that, a lot of people dive straight in without doing their due diligence and suffer when they find out that it’s not all roses and sunshine. Anyway, no model is completely perfect, and there’s no denying that WFG in particular does spark moral controversies, but it works. It doesn’t rely on indecent promises of reward- it makes it explicitly clear that in order to be successful, you have to put in the effort, which is true for any other business or pursuit in life. What I’d ultimately suggest is a productive dialogue between the representatives and the people opposing. It gets a lot of undue bad rep that’s founded in groupthink. Most people who parrot ‘pyramid scheme’ do so out of no valid research of their own, and that, in my perspective, is problematic.
Pretty good reply Jay! Just would add that the WFG model is not for everyone because we don't need 100% labor force participation. Also, lots of people just want to stay comfortable in a job. Hopefully, they don't experience the "cheese" being moved (downsizing & layoffs) in their later years? WFG is an opportunity for anyone but not everyone can see the treasures of being independent business owner within a team concept.
I am so unbelievably torn right now. I have seen so many different perspectives. I am currently in the process of getting licensed and I really am wondering if I am doing the right thing. 😔 I’m only 21 years LL and am extremely uneducated about these topics. I wish someone could tell me if it is really worth my time or not. I have made great connections with the brokers but I feel something is off 😰 someone please help me
I am also in the process of getting my license. I feel like it depends on your goals and what you want to achieve. Me personally, my family and I were never taught financial literacy or anything to do with money and how to prepare for the future. I just want to educate people and guide them. If it doesn't work for you, you don't have to continue. I just see it in a different perspective. I am a musician and a lot of my friends don't know anything about money. I would like to help them. People can say it's a scam or what not but everyone in this business is licensed. There is always a hierarchy in everything; family, business, animals, etc. Do what makes you feel good.
I just started and this video is really misleading. Change your mindset and change your life. Don't let this video stop you. Take the steps and learn for yourself. I am glad I am doing it. Find the Why of why you chose this path then watch yourself succeed and you will see why this video makes no sense.
yo legit same spot. How did it work out? did you end up getting the license and working at WFG? was it good? did you just give up or go work somewhere else?
I want to get a license, but other than WFG, which one would you recommend? Because just a WFG agent contacted me a few days ago. I'm interested in getting the license, but could you tell me what other options I have?
The girl that tried to recruit me just asked me very basic questions, that everyone would say yes to, like you have to agree with her. She's a good pitcher indeed, but I saw through it. Nothing in life is all that good for free lmao
Hi Antonio, If someone offers you a good food for free, will you get it? What if someone offer you a free ride? And what if I offer you all our WFG services to you for free?
i got recruited a few days ago and had a meeting earlier. when i was asked for my card info I had a moment of wtf am i doing and didn't give them my info. it was pretty suspicious since someone i know gave them intel on me so they knew what to tell me so recruit me. i was scheduled to have another meeting soonish but after reading some of the things in the comments and the video I'm getting out of there. thanks for the warning video and all the comments who helped clear up my mind❤
Hey there! Good thing you left. Based from my experience, my sister and I were forced to sign up for Wfg. They tend to mislead anyway so do not proceed with them. They only care about making money and not the people they leech on to.
Hola! he visto varios videos como este y en general todos dicen lo mismo, que hay muchas maneras mejores de hacerlo o mejores compañías, pero ninguno menciona como o donde o con quién. Tienes alguno donde lo comentes o como llevar buenas finanzas en Canadá? Que compañías recomiendas o donde puedo tener la información para tener estos productos que necesito?
WFG "training" so far has been Zoom calls about how great they are and how much money various people have made. My mentor tried to sell me insurance! I thought the purpose was to show me how to sell. My Insurance license has only cost me money. I'm probably going to let my license lapse
Andy, don’t let your license lapse. There are great and legit opportunities in the life insurance industry. Don’t let a bad company or bad experience stop you from doing well. I was with WFG for 5 years and recently left to a brokerage where I don’t need to pay unnecessary fees, which provides real training and work with leads with very high compensations. Keep your license. You paid for it.
@@reliza93 I left for another company that is only focusing on training about sales and products with twice as high compensation. Where do you live? USA or Canada?
Perfect breakdown, I agree that most of their “advisors” lack the knowledge of financial planning. The clients are better off than the agents in my opinion 🤷🏼♂️
Omg!!! Thank you so much for taking the time to make this very clear informative video. I have felt the pressure with WFG. I can't deal with people who pressure me and are so pushy. It is a long story. I have to get my $124. Thank you so much!!!
Like what they say continue your licensing take advantage out of it and then work with other company that That is not like WFG . For me I will be getting licensed . I paid for $120. So I ll just get educated and licensed …and take advantage of their free lectures seminar .
I lost my $ 125 to register by a woman working for Bank of America. It is a MLM so I advise people not to register it then at some point, people spend more money on this company, regretting it is late👎🏻
Big thumbs up my friend! They have pursued me heavily the past month and after losing my current position I thought that it may be a good idea. Great video.
@@jelin5233 Sounds like an agent did not show you how to fund the investment properly and didnt show you an illustration to gauge whether or not it will lapse. You seen like a witty person. You’re probably quite intelligent for all i know. I’ sure you can understand how an uneducated ignorant person can write a bad review on google or how an unethical agent can misrepresent a company.
I think MLMs offer the worst of both worlds. Its like a job becuase of the upline and all the managers you have. Its like owning your own business becuase you have no guaranteed income.
If I got state lisence from them, didn't sell anything yet. What company you suggest in USA, if I have lisence and decided to move to other agency or company
Sorry Alex I'm mostly based in Canada so can't really help you with specifics for that. Search your local region and speak or reach out via LinkedIn to some insurance agents.
You just saved me $200. I was working with someone who has been trying to bring me on board with WFG. I canceled our meeting because I did a little due diligence starting with your video. Thank you. I'm stuck in a dead end job and I'm now focusing my energy on a better way out.
I hav a friend who ive had a couple of meetings with thats been getting licensed n my experience has been the EXACT opposite. I took interest in being provided free consultation on budgeting & building wealth. Although ive been hesitant, it’s been surprisingly refreshing! No pressure to move on anything i dont feel comfortable with, every single question & reservation ive had has been met with clear information & never coercion. Not much priority on recruitment, although this option is put on the table if the patron takes interest. That being said, would this vid suggest not purchasing these different IUL life insurance policies cuz they seem like great opportunities ?
Wealth Awesome yes i appreciated ur input in the video! In regards to what ur discussing here tho & the question i posed i was hoping to hear more of ur input on the insurance policies & financial consultation services they provide which the vid didnt touch base on
Well articulated Michael, I'm the process of moving forward, the license works for any company and it's my license, I can take it anywhere. Several positive attributes I've experienced are: 1. Discount on the training course, self paced learning, access to material, business model and process. It's all available to the potential client. The products are from reputable companies: Pacific Life, Prudential, Nationwide and Jackson. The $150 for the course and $88 for the license is an easy call...solid infrastructure too.....
WFG educates individuals and families far more than any bank that people go to go to open up TFSA's, mortgage insurance, car insurance etc. NO bank is going to send you across the street to another bank even if they know that bank can give you a lower interest rate or higher rate of return. what WFG does is SHOP for you, YOU do not pay WFG, it does not cost you any money to work with WFG, once WFG finds you the BEST options for you, that bank or company pays the advisor that found it for you. Recruiting is an option, many agents choose to strictly with with clients without recruiting. A lot of this information is FALSE and the numbers do not lie. They work with 80+ major financial groups and banks, like TD, BMO, and RBC, so im not really sure how that could be considered a SCAM? unless all these banks are scams too? one bank is going ONLY going to have an agenda for that bank, so what do you get? you get only what that bank is offering, that bank is not going to shop around and tell you how much insurance you need, what kind if insurance is best for you, WFG does that. I personally know many people that have saved money monthly, got better returns on their investments and was BETTER educated on how to plan for retirement with WFG. Think what you want but if WFG is a scam, consider your own bank a scam too.
Ladies and gents, this is their standard copy/paste response. They legitimize themselves by saying they work with major banks and manage trillions in investments. However, the overworked dude in the bank does not get a commission cheque so they do not prey on you. These WFG guys on the other hand...
@@jelin5233 If this was a "standardized copy/paste" would there be typos? I don't even work there, but check the numbers. Unless those are copy and pasted too. And its very clear they work with major banks and investment firms, how would it even be possible to claim that without repercussions? That overworked dude at the bank works off a salary and quarterly bonuses (based off sales) not to mention he works 9-5, if thats overworked I'd hate to see what you do, and that "dude" is very limited to what he can offer, why? because the banks agenda restricts him from offering anything more.
@@CP-cs5ih the dude in the bank gets paid a fixed salary, unlike these WFG/WSB boss babes in this MLM that promises a higher commissions as they scale up the pyramid. I have never had a banker call me 4 times a week wanting to introduce me to his senior whatever director to talk about ULs and how they can help pocket err I mean invest muh money.
I personally talked to different insurance brokers, and only one from WFG could explain properly and professionally all pros and cons of Life Insurance and find the right one for me. I also didn't experience any pressure in terms to be recruited. So your opinion is only an opinion that have rights to exist but please avoid giving recommendations to others.
Im selling Luxury Beach front resort Timeshares in Juarez Mexico that would be perfect for you. I can answer all your questions related to these timeshares
Such small pay outs? We get paid royalties dividends and capital gains bonuses overrides. And a damage to your rep is a given for anyone pursuing something greater, because most people want to play it safe. Why would I want to maintain relationships with a bunch of regular low expectation havin people. And if you said you wouldn’t purchase any of our products, chances are you already have similar products directly from the manufacturer, we get exclusive offers from the same company you already deal with.
You literally pay to earn your license through your state lol. I did the same thing with barbering and makeup. So they don’t “take your money” educate yourself!
You are not an employee you are 1099... you are an independent contractor.... why uber takes half the fare of their driver? Why do you pay them? Why to have money to invest to start a business?
@@marieruiz6380 That's only IF you pay a single fee to earn your license unlike this MLM, which makes you buy worthless supply from time to time. And yes, I'm educated and it'll pay off more than whatever you're doing 😉
Working as insurance broker= employee, Using WFG to contract with investment/insurance firms= Self employee or agency owner. I think what you mentioned are different roles.
Exactly. I agree with you but I don't like is their MLM commission rate. New associates make only 26% while WFG corporate and the senior hierarchy get to share the remaining 74%.
@@tobyElearning i have a few questions for you. If i start work as an employee in a company, who makes the most money?? Ceo, person with experience, or a brand new person out of college? And also wfg agents get their license updated on FSRA , a government regulated website. So is government giving these peope license to scam people? That’s what i was asked . Please answer if u can , to help me make my decision.
@@nn3340 When you get hired by a company for JOB, the owner takes all the risk , you get paid regardless of how the business is doing. In an MLM commission , your pay is not guaranteed, you take all the risk. It is understandable if a JOB company keeps most of the money when the business is doing well because of the risk they are taking.
@@tobyElearning but the risk is just merely a government license ,don’t you think? They asked me to get a license for maybe $300. I used to spent this much on my travel to office. I got laid off in job. I didn’t get any job for 3 months. That is also a risk i guess? 3 months on my savings only. Same happened with a lot of my friends but one who had the license. He was making good money as an associate part time.
Your family should always be your first clients. If you opened up a salon, wouldn’t you want your family to support you? It’s the same with any business. They talk about the warm market and utilizing it cause it helps you build up yourself, your confidence. My cousin works for London life now Canada life and she sold me insurance. I was happy to support her.
I’m going into a Zoom meeting here this week, I’m trying to stay unbiased and I’m interested in getting my license and getting into the finance industry. The one thing I am not interested in is selling to family. Or putting my own money into anything.
You absolutely don't have to sell to family in WFG. However if you truly believe that Life insurance and investing are important, then why wouldn't you involve your family if it's helping them?
Some of your information is incorrect. You do not need to recruit 3 people during fast start. That isn't even in the fast start requirements. If you you don't comlete the items that are listed in the fast start, you can continue and learn at your pace.
Let's do some math, $792 million payout divide by 42000 workers, that's $18.9k on the average. If that's what they make a year, that's minimum wage. I don't know how long they have been in business, the finances just look very sorry, I have to say.
Not all 42000 workers work apparently. There are ppl join WFG and find all kind of excuses not to work but expect good earning. I have handful. Thus, what make one more successful than others : commitment and work ethics.
As “polite” and “unbiased” his tone of voice may sound, so much of what he is actually saying is outdated, taken out of context and just plain incorrect. Ive been a part of WFG for 5 months and it has completely changed my life. I was EXTREMELY skeptical at first. Yes there are different promotions but that only increases your commission percentage, not your income. You get what you put in. I took it upon myself to quit my job because I immediately saw the possibilities. Starting out part-time I helped 2 families save a total of $400 in premiums & it got me over $2000 in commission on a single check. Money aside, I LOVE helping people & hated having a boss. So it was a win win for me. Also, literally everyone needs life insurance. It’s that simple. No family gets left behind.. there is NO shortage of options. We write for 75+ different companies. Even if you can only save $25/mo, I am going to do everything I can to make sure your loved ones don’t have a financial burden when you leave. I joined this business because I learned so much financial information that has been withheld from the middle and lower class. I joined because it breaks my heart to see people begging for donations to cover funeral costs. I love the support from my leaders, the WFG culture, the trainings, the trips we take, and I love what I do. I am STATE licensed, not company licensed. WFG is the platform. My advice, figure out what YOU want to do with your life and don’t base it on the experience of others. I never in a million years thought I would become an insurance agent. Regardless of the company, I know that THIS is what I was meant to do.
Right! It sounds like he has his personal issues with WFG. A lot of WFG advisors are in Forbes and we have people in huge industries that are in WFG. You don't have to recruit people a single person, its optional we have huge personal producers. He didn't like that comment though.
I am amazed at how they manag to make living zombies out of ordinary people and use them to defend them like a cult. That's the biggest redflag for me even though everything you said is the truth.
@@lantherpagdi No one can use me.. however, you are entitled to your own opinion. I don’t want everyone to understand what it is I do. I just hope we all are successful in whatever we choose to do.
I appreciate your input. I'm a former retail sales stockbroker. I did a Zoom with WFG and they are very interested in me. That was 3 months ago they never pressured me and I'm joining the team so far on a part time basis for now.
As far as a multi level/pyramid thing company goes, all you people don't understand how a business works, obviously. Here's the rundown! Let's use colleges as an example for simplicity.... The colleges start with, at the bottom levels and work their way up to higher levels, all getting paid differently as follows. Cleaners, maintenance and technicians, security guards = Different Pay scales Admissions, administrative staff = Different Pay scales Directors, coordinators, professors, coaches and all faculty etc.... = Different Pay scales All the way up to the top of the pyramid or top levels of the "Hierarchy" are the department deans etc... = Different Pay scales Then the board members at the very top = Different Pay scales That makes it a business model, not a pyramid or multi level scheme. Wouldn't you agree? Isn't this what you would call; "Climbing The Ladder"?? Too many people always thinks bad things about businesses like WFG. It's not and never will be a BAD company. Technically, every company in the world is a multi level/pyramid company and is always recruiting good, new people to build its business model. Isn't it?
Hello, thank you for such good info! I'd like to suggest that you get a good microphone and use some compression software so the audio will match the stellar quality of the visuals you went for as well as the clean editing/effects.
Hey Duane, thanks for the compliments for the visuals. I am aware of the audio problem! I have a new Rode mic that I'm trying out for my next two videos that I'll be posting next week, let me know what you think, I hope the audio will have improved.
Your insight provided clarity about what is really the WFG goal... my gut feeling told me that I was not being told honestly by the recruiter and felt pressured to give the money to register as an associate!...I assumed it was refundable if I decided not to go ahead with licensing... I am still trying to get my money back & I never physically signed the agreement!... the recruiter made the application online during the zoom call!... I do not recommend anyone purchase any insurance from WFG!
So what would you do instead? Why do people say no but no reasons why. Usually you will find there a competitor and there company does absolutely nothing different
When it comes to MLM, I believe that at the end of the day it's all about the quality of the product. My advice to people wanting to join is to focus on the product.
I disagree. In most MLMs, the quality of the product is usually an afterthought. The main focus is whether you can be recruited into the seller's downstream and "be your own boss", "work your own hours", "achieve the dream" or some similar nonsense. According to research at the FTC, a whopping 99% of recruited sellers lose money in an MLM venture.
Any business is going to difficult to build or scale. Even if it’s mlm or traditional. I have e-commerce, wholesale/logistic, and Amway. Amway is either a success or a lost cause depending on the seller. The great thing about them is not paying for a storage or logistic company to move products. They’ll do those for you. You can smell, touch, taste, feel, and hear the product in front of you versus crypto, insurance policies, or stocks. Anyone can sell Amway, should be the easiest form of business. There’s no way you can lose money, in the USA you have 180 days to return their eatable/house goods, and 120 days to return their equipment if you chose to stop doing the business
So sad to know CSUN works directly this company I was approached by a WFG associate because I was applying for internships and the agent tried to make me feel more comfortable when she said she works with cal state Northridge for years I even asked if her company was an MLM but she said they weren’t because she claimed they don’t get paid by recruitment and bc they get paid by services provided to clients
she's right, you don't get paid to recruit. An agent educates a client on a product, from a company like, Royal Bank Of Canada, the customer chooses to use that product, RBC pays WFG, WFG pays the agent his split and THE DIFFERENCE goes to his upline as compensation for training and mentorship.
I have a question. I just had a conversation with a WFG agent. I just want whole life insurance, if I sign up with them and I die, my family still gets the money, right? It sounds like most of the criticism was towards working there.
Loved the explanation.. i do joined WFG now and is trainee associate. I have just written for Financial advisor license and waiting for results. Now i guess having License is benefitial in some or the other way as this provides me access to financial resources. So, is this enough or should i keep doing this stuff?
Manish go for it, and if you dedicate yourself to this business, I promise you'll success, no one hates more money right? Good luck. Always listen to succeeded people, not losers brother.
All big corporations have hierarchy system only difference is we get paid there on hourly basis as per insurance industry, even real estate all commission based. In real estate business they call it broker and agent and in wfg it's considered MLM
Cost is 1100$ for 1st year and 600$ from next year onwards. You can make money if you are desperate and can sell irrespective of clients needs.. Also make people join and force them to sign up even if they have zero skill in selling.
@ricky tann 1year $500 to get your license and then $600/year to maintain lisence. Added the above two for 1st year expenses. 2nd year onwards $600/year. Besides day to day expenses to chase prospects, giving them tea coffee, sometimes invite for dinner lunch if they are resisting.
Compared to running a business where you spend 10+k just to make profit. In wfg you spend 1000 or less on average, with the potential to make unlimited amount of income.
@@trevaughnbrown1211 Don't mind them. People will be looking for how to do a business or enter a career without spending any money as if that's possible. 1000 for licensing and all is so cheap. Only very broke people will call it high.
Thank you for this very thorough video!! Amazing content. I am worried as I have a life-insurance for investment purposes with WFG. Would you recommend I close and get out of the contract? If not, what should I be careful of and inquire about? If so, where would you suggest I go instead if at all for life insurance.
Right on, my daughters boyfriend and her got involved in this. I attended a training session with her and their partner. Only knowing what little she told me I learned more from this session then they did of mine. I am concerned and not a player. Great review.
Thank you for this video! I had an interview scheduled with a lady who offered me a job! She seemed super nice but wouldn’t give me her website to look into the company so felt sketch...I thought it was a kidnapping ring 😂
I had an interview lined up, and was wondering why the name of the company that was "interviewing" me had a different name from WFG. And no website... LOL
I’d have to disagree. It has 2 stars from JD power and an average rating of 1.1. On the insurance side of things they have around 3.0. When they tried to recruit me they told me they only worked with 5 stars to find out they don’t have even have the integrity to be truthful.
I am in the process of licensing. Got discount on study guide , finger printing . Just now I need to pay for the exam which I will schedule soon. I have questions if I want to quit how can do it ? If I get my license will they terminate it because I quit ?
Hello my friend, introduce me to WFG, Yes did finish the Zoom call and process with the meeting, but the downfall is I am not a social person and don't like wasting time and you have to find recruits to join, and I haven't started my licence yet! I just told my friend I don't want to hurt friends and be pressure to find people to join to be part of it and planning to leave, because it is not for me and can't be force to stay? Plus my friend isn't an experience person yet and hasn't got her licence either, she is trying to find more recruits, but found none, but me LOL, what is your opinion on this?
Hey Michelle! When you're partnering with someone in business, do you want to partner with someone that is really experienced, or has no experience at all? I would choose someone who has experience. I would try to delicately say no if you're not interested.
Not being friendly in 2021 isn't an excuse anymore you do it anyways. A better question is even though it's cliché, is would you rather be tired and financially independent, or sleep a lot and live complacent? Edit: but on the topic of your friend, you both should follow a leader you would like to emulate in the business, if you want go far, go alone, if you want to go fast, go together. If you want to go far and fast, go alone, together.
I recommend learning about investments on your own, then buying ETFs or stocks with a discount broker for a low cost way to invest. For life insurance, term insurance is good for most people's needs, there's no need to lock into those expensive universal life policies that WFG agents tend to push.
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i think its all dependant on leadership within any organization. I do work at wfg part time. i Make a decent income nothing crazy. But the support and mentorship i recieve from my leaders is second to none. ive double my income in my full time career from the associations with the firm. It's like any other company end of the day. there are some amazing agents out there. but there are alot of bad people as well. meeting the right person in any company can change your life.
That was my experience with WFG, pushing those million dollar IULs because that gets them a large commission. Their "financial education" they claim to offer is nothing more than 'mindset' training to get you to become an agent to get them commissions off all your sales.
The truth is most life insurance companies will make you make a list of names to sell to. MassMutual, new York life, northwestern mutual, western and southern, prudential, and more will make you list 100 or 200 names BEFORE you get a contract or job offer with them. Not defending wfg, but this is a common practice.
Hmm that's interesting to consider and a very good point.
@@WealthAwesome , tell us what insurance company you work for?
Exactly, We know that there are better options to start but as far as I know one needs a basic platform to start off. And I think WFG and many other companies provide that. Yes, it is okay if one doesn't want to work with WFG or any other insurance companies if they are too possessive of not ruining their reputation but it's not about the reputation or MLM scheme, it's about helping those families receive what they deserve that nobody is telling them....
I am an Associate with WFG and in one year plus, it’s been very fulfilling based on the exposure to trainings that my upline provides. I can now train my team about the products and services available to the benefit of my community. The income is equally worth the effort and mostly the opportunity shared to people that are around me.
I...think you buttoned your shirt one-button-off, all the way down.
haha!
@@fu2201 Lmao
sus???
😂😂😂😂😂
Hahahaha imagine trying to shill a company and you haven’t even buttoned up your shirt properly. Karma.
If you have never truly used the platform you should generalize your approach on speaking about the platform. Their are 80 different companies on the platform to use, no one is forced to recruit its just incentivized, contract level starts at 35% and not all associates on the platform are advisors but you can use the platform to complete all certifications in finance. The platform gives you discounts on all training material and it’s courses. Not all the products especially the insurance products are meant for everyone. It is true most agents are not trained but that can be said about all financial companies. Recorded average income for license agents using this platform is $50k a year. You choose how to use your license and the information you possess. Take care of people and your community and in return good things will come to you.
Exactly! Facts!
They start you at 25% as Training Associate you have to recruit 3 people and sell 3 policies to move up to 35% as an Associate. The system force you to recruit otherwise you will always be making 25%.
@@meryrodriguez4030 not true at all, just had a broker recruit someone from another company and she started out at 50% contract level. Sorry you had a bad experience.
Exactly! A lot of haters on this video who have no business commenting on what they don’t know about. Mind blowing, most of them probably called it a “scam” because they never got their promotion…or worked hard enough
Really?
How do you make "the most" of your money at WFG:
1- By selling insurance products?
2- By overrrides aka passive income (the more associates [sell] under you, the more money..)?
3- Do you hold a "fiduciary" duty toward your clients?
4-Do you initially "target" friends and family? One might start a business and discuss with family and friends to get support but in no way a friend or family should be or feel pressured: that is why wfg agents frequently have damaging relationships with friends and acquaintances.
WGF excels in training insurance "salemen" that in no way should be compared to true certified financial planners, accountants fee-only advisors that were actually appropriately trained for the job.
As a WFG agent, you are not a business owner (like they make you think), you are an independent contractor hired by the company: very different
If you want to unethically make money by selling products that do not fit most people like permanent insurances ( the reason why the highest commissions come from cash life insurance= bad products for most people) to become a millionnaire (assuming you
climb the ladder): then that company is really for you.
A real cult.
MLMs have been repackaged numerous times over the decades .. the same type of people fall for it… We attended a college friend’s wedding anniversary party , they quickly started chanting.. it was weird and sad…
Chanting?....They started pitching at their party?
Some people are successful in it, but me I had to quit because I felt trapped. In the beginning they hide a lot of info from you, and it is in the middle of the process that I found out this wasn't for me because I am not great at lying
The business model and intention of the company itself is very good-Help others in their finances to help yourself financially, while at the same time building your own business for your future and the future of others, with the help of trainers, teammates, and decent financial education. However, campaigners are lured into the business with a “get-rich-quick” approach, and from the start, they are hidden all the downsides, and they continue to hide them to others. Downsides such as this isn’t to get-rich-quick, but there are lots of campaigners who design life insurance policies for max-commission instead of the best interest of the client. A lot of the times, WFG agents are either uneducated, illiterate, ignorant, lazy, or just plain unethical and don’t even know or willingly don’t tell how their insurance products work-they just sell with the same sells pitch they were sold with.
I realized this as a campaigner, but I wasn’t discouraged. Instead, I saw the opportunity to do things right, and more professionally with like-minded teammates because we are “financial professionals”, and that name carries a lot of weight.
So the company is about lying?😅
Easily. Deception and false promises with fake milestones as achievements only to make their numbers look good
If you’re wise enough, you’ll know this is a whole sack of rotten baloney
@@libgurl01yes - they leave it ambiguous on purpose. It's just another MLM 'technically legal'
Anyone who encounters this comment, please ask yourself this. Who is a more reliable resource of accurate, unbiased, factual-based information: Chris who has his CFA (Charter Financial Analyst) designation and former financial advisor or all of these other commenters who aren’t legally allowed to call themselves a financial advisor? This was highly informative and I appreciate you for shedding light into this issue Chris
Thanks Jojo! Appreciate the support
They told me to attend one of their free courses , when I introduced myself I stated " hello , I'm excited to learn about financial freedom and Being a free course I'm expecting not be sold anything or joining any group"
You can imagine how that went
What Christopher leaves out in his “opinion” hit piece is that there are over 200 million Americans who literally live paycheck to paycheck, barely making ends meet, not having the ability or knowledge on how to save $ because they are either working for someone paying them a pittance, or self-employed & unable to create more income because becoming an employer has become such an arduous task.
He also leaves out that WFG has perfected a system to help agents create & build their own business that is now being COPIED by 100s of other companies, because it is SO effective. The system helps people grow their own business effectively, that’s why the system is in place. Christopher also fails to mention that if you were to join ANY life insurance company they would push you to SELL life insurance (with warm leads and all the other things that turn him off).
WFG specifically trains you NOT to SELL. They train you to help EDUCATE prospects, all while giving same prospects the same opportunity to build their own WFG agency. All this is FREE. WFG’s goals are to help educate as many families in this nation to be independently wealthy, with a noble purpose to help one another. No other life insurance company works off those principals. They tell you to go out and sell. WFG tells you to go out & educate & help.
BIG difference! It is all a mindset. As I mentioned, it’s a system that is now being implemented by 100s of other companies, copying the exact WFG platform.
Christopher literally tells you that WFG is NOT a scam. It is NOT a pyramid. You don’t have to buy anything to get involved. They train you thoroughly, they inspire you daily, they give you access to over 100 companies with 1000s of products for every financial need for the common person. Do not be misled by him telling you this will not create you personal wealth. I personally do not know anyone who has dedicated themselves to the WFG system who isn’t making more than they were working for someone else, within just a couple of years. WFG creates inspiration! WFG creates a mindset that will help anyone realize their true potential to build on their own dreams.
Imagine we have 200 million people needing financial literacy (something they do not teach in school), and Christopher disregards that basic fact. The TOP 1% have their financial advisors who will not even speak to a prospect without charging a minimum of $1k for financial advice, people who work at JP Morgan or Merrill Lynch, Charles Schwab etc. WFG is made for the middle class American who needs help, not for the wealthy who can drop $$ on financial advice. Every agent I have come across WFG has an inspiring story. 99% never started in the financial business. Most were employees at a retail store, owned unprofitable businesses, were self-employed & unable to grow, because the WFG platform is a system created with the middle class in mind. Shame on you for taking your time to writing such nonsense. You come off as some Wall Street pompous pawn, trying to discourage millions who can use WFGs help. You are not helping the masses. You are in this for your own personal glory.
80,000+ WFG agents whole heartedly disagree with your attempt to discredit their mission. Their mission to help educate as many families realize their true potential, to realize they too can build wealth, regardless from what background they come from. WFG is literally the American Dream.
@@DJShanto1 I found the brainwashed
@@bloop1738 these people are paid for pawns of the industry. No game, no shame, all lame. WFG is a life changer. Just ask 80k licensed advisors.
@@DJShanto1 lololol hahaha imagine having to use this companies to live. I love being rich
@@DJShanto1 nobody is paid people just don’t like mlm’s
you are 100% correct. I have a brother who has been with WFG for 25 years. He was in the right place at the right time when Humprey lost his licenses from the SEC. My brother and a couple other guys were at the top level when Trans,,,, insurance bought out Humphrey. All they do is recruit every day, every hour.
Thanks for your real life example, I appreciate your input :)
does your brother still work with them?
Yes he does. Even during the pandemic he is on Zoom constantly. He actually is trying to rent out some offices right now. So business must be down.
@@sherylannejacobs7235 so his job is to recruit,, not to sell products?
@@sherylannejacobs7235 I just got signed up and I am through zoom they say to just train n get the license within 2 weeks but I have school?
With any business, you get out of it what you put into it. Most people want to be compensated for their time and put minimal effort . That is why the top 5% have 95% of the wealth. Through Quantity, you find QUALITY people who can change their life and the lives of others. Bottom line is everyone needs the products and services, and working in the warm market saves millions in advertising expenses. I've talked to other agents who make hundreds of calls just to get a handful of appointments. The building and compensation model is second to none.
Also the commission percentages are way off , top contract is much higher than what you mentioned but the biggest benefit is that it is a builders contract in which you get to override you agency for life. Thank you for the video and giving an unbiased opinion.
Thanks for the input Brandon! it's good to hear both sides of the story.
FATHER IS THAT YOU?!?
I agree. I heard the commissions percentages and was like, "What did he say?"
With the whole friends and family thing, this is just my opinion, but any business you start, wouldn't you go to them first anyway? Whether simple or complex, if you believe and know your product, your family would be first as an entrepreneur. If I made cookies, I'm selling my cookies to them first and have them refer. If I was selling Scentsy, Amway, Herbalife, Mary Kay... you get the point.
But, at the end of the day, it just depends on the individual. I've been with WFG for almost a year, and it was the greatest career decision I made. But, again, it fits me and my plans for my future. Great post, Brandon! Maybe I'll run into you at the Fort Worth convention this year. 😊😊😊
Well said 👏
Bullshit
100% agree. every person you know becomes a potential client in your head. Their mission is to plan seeds in peoples heads to try to make them buy something or have them recruited.
If you’re a business owner that’s how it is. You wouldn’t be successful for very long if you didn’t have the right mindset.
That's how it works in every business. Why do you think TV programs are full of ads? To make every watcher a potential client. This is the mindset of money makers.
But I thought wfg is all about being charitable in giving free education…..
@@lucdo1278 Nobody is forced to do anything they don't want. We all have free will to make our own decisions and take what we want and leave what doesn't serve our highest good!
I literally just got off a zoom meeting with wfg. I'm not into selling or networking. Thank you for this
Glad you liked the video!
I'll take a burger and some fries please! 🍟 🤗
Same and as soon as I heard recruiting family/friends I was instantly turned off and started digging
I have come off a zoom meeting too.
Network=networth you don’t have to be a salesman and if you learned a little about WFG you would know we don’t sell. We educate people on what is available and how it works. If they decide to buy great, if not great.
I like the bait and switch you did here. You started all respectful of the company and then delivered killer blows left and right with your analysis & commentary. Nice! Too bad that 2 friends are in WFG. They are young professionals so are thankfully not in debt but the life insurance policy they signed up for is demonstrably ridiculous and a complete waste in my opinion.
haha thanks Tamuno I tried to paint the whole picture and say the good things with the bad.
Unfortunately the analysis was more opinion than fact.
i’m not an agent or represent any thereof, but i just found out my wife has had life insurance for 20 years contributing $120/month and has had growth almost $100k. people also consider life insurance as an investment, the safest (untouchable by creditors or market fluctuations) but the slowest in gains. so, it’s bot a waste if you opt for an IUL type from any company.
@@shanefoster5305 I agree 100%! Unfortunately he does not have the balls to grind and be successful in an MLM environment so kudos to those that accepted the challenge.
@@junlorenzana4493 don't have the balls to be successful in a scam 🤣🤣🤣🤣 what are you doing lmao
Every business you start, the first step you take is Recruiting. Without recruiting you can't build your business and that is what we do in WFG, we help families save and earn money. We only educate people and just to tell you about salesman, If you are working anywhere, you are a salesman for that company and you are working under that company but WFG gives you a chance to build a Business and help families save money. OUR MOTTO IS :::::: NO FAMILY LEFT BEHIND
thank you.
Exactly!
Thank youu
Copium
@@anaise5 cope
The system in WFG is nothing but a process you follow to build a brokerage firm. Think of McDonald's, if you buy a Mcdonald's franchise, they have a system or process you need to follow to make burgers, drinks, etc.
WFG does not have its own products, they market products from different financial institutions like BMO, IA Financial, etc. WFG is a financial distributor which gives customers more options to select from products from many different financial institutions based on their need.
You tell me one thing, which business is without commission if you buy a car the car dealer gets a commission, if you buy a house the realtor gets a commission if you buy insurance from any other brokerage firm they earn a commission. So if the agent in WFG get some money from the sale it's called commission for her/ her service to the customer.
❤❤I just came across your comment after posting something similar to this and using McDonald's as a reference. 😂😂.
The question is as a client, will you get a useful insurance product or just wasting your money？ Walmart McDonald they sell the product you really need,food and stuff there s no possibility to get scammed. As an agent there, how much percentage commission do you get compare to independent insurance brokers or any insurance companies advisors？ Third is what's your main job？ if recruiting ppl in your team makes more money than you selling the products to clients then it's not a legit business
Awesome man!!
I just joined WFG today, i update all my honest experience about this firm here.
Any updates?
I just turned down an offer from them because I was told repeatedly that there would be only a 155.00 fee for the licensing. Makes sense. But upon looking into them there are other fees like for the background check and study materials as well as having to purchase a plan through them and becoming a client. I don't have the resources for these kinds of fees and the recruiter telling me repeatedly that the only out of pocket cost is the 155.00 is an outright lie. I couldn't afford the licensing until this coming Friday so my recruiter let me sit in on a training sell. That's how I found out the name of the company which was not disclosed to me in anyway
You are wrong... big time
@@Holycow723 how i had my first class but i'm still doubting to continue or not
@@Holycow723interesting to see you advocating on multiple videos for this company Kevin🤔😂 I wonder if you have a….motive lol
this is incorrect. training associates make 30% , associates are at 45% marketing directors are at 62% and senior marketing directors are at 80%. WFG insurance agents are individuals contractors that represent over 77 different companies like Nation Wide, Prudential, Mutual of Omaha. As an individual contractor you are responsible for educating yourself and your team.
Hi deidra, do you have a WFG compensation report that states this? I found a copy online but it was a couple years old.
I just got my insurance license. My friend who works in WFG wants me to join the company. I dont mind joining WFG but I must be able to work for another insurance company at the same time. Is it possible? I want to also work for Family First Life
WFG does not keep you captive. You can work for whomever you want.
@francollinz WFG is not captive and holds no quotas, so yes you could from WFG's point of view. But, conversely, the company you work for outside of WFG may be captive and have quotas, which will be problematic.
Thank you for making this video. I was in an MLM business for couple of years and then I quit. WFG has the same model, therefore I stay away. It is a trap. Your success depends on your down lines. Everything you said is honestly true. 🙏
That’s actually false your buisness doesn’t depend on your downlines you can just help families with their insurance needs. There are many agents who don’t grow their teams and still make a lot of money. All the stigma around wfg is from people who have either tried it and not done anything to make money and decide wfg is liars, or people that think it’s a get rich quick scheme and expect to make money the second they start.
@maklarson1817 Truth! Wfg is an amazing business opportunity. It's not for everyone though. You have to put in the work to make money! You also only get paid when you help families. We don't make money off recruiting. Wife and I are really excited for our future with WFG.
as in any business your success depends on your ability to train and lead people, and if you spent time with this organization you might have become a leader through the love and dedication of your upline.
Thank you for this video! I was pitched a job and didn’t realize it was an MLM until I was already in the meeting. I was wondering why the associate was trying to recruit me as I had no experience or education in this field. So sketchy!
Yeah they're a MLM posing as financial advisers (which legally they cannot say because they are not qualified). Tell them you lost your job and they will stop calling you!
Glad it helped Emily! Yeah that's happened to me before with so many MLMs. My MLM radar is pretty good these days though I haven't been tricked lately :)
@@jelin5233 They don't say they are financial advisors. They say they are in financial education. Which they are. They do teach principles of investments and insurance. They explain IRA's and 401k's and more. They ask questions to find what a potential customer is looking to do with their money and then offer products that follow suit. You don't need experience in the industry because they do all the education for the business for free. Also I am currently working with someone who doesn't have a job and he is already making money from WFG. Go figure. Wrong on all counts. Sounds like you're a Troll to me...
@@shanefoster5305 Here's an article on the issues with UL life insurance: www.newswire.ca/news-releases/half-of-canadian-policyholders-are-being-sold-a-costly-life-insurance-product-that-most-people-don-t-need-853899709.html
CLIFF NOTES:
Why most Canadians should avoid permanent life insurance:
It's expensive - Costs 10x term insurance. The client will overpay during the first early years.
Difficult to understand - Many complex or hidden fees in the fine print.
Limited returns - Earnings lower than in TFSA/RRSP earnings after fees.
Illiquidity - You can't reduce your monthly premiums if you're ever in a cash crunch.
Potential of lapsing - Nearly 88 % of universal life policies never pay a claim. Why? People eventually can't afford the premiums temporarily.
Things can learn. i think if you are in a good team. You will learn a lot. A lot of other insurance company are the same. Insurance company turn over rate so high
Lmao. I was approached by a gas station employee the other day talking to me about WFG. Knowing that I take an interest in finance and all, he asked me if I’d be interested in joining WFG and taking courses to get a license to sell their insurance products. I asked him what I would do (wondering if I’d be making calls basically) and he said no. He said all I had to do was recruit three people below me to sell. My first question was, if I can’t sell insurance to people around me because most of them already have trusted insurance policies, than how are other people that I know going to be able to. He told me that it wouldn’t matter because if they were willing, they would find a way to and all I’d have to do is sit back and reap the benefits of it. Immediately I thought pyramid scheme. Especially when he told me that one of the three people under me should also have three people under them… he was pressing really hard for me to join some zoom calls, and even showed me a paystub for 100,000$. Safe to say I was already extremely sketched but after doing a quick TH-cam search on WFG that I’m, as the sharks put it “I’m out”
Don't allow your experience with that one person to deter you. I get your skepticism, but do your research. There are people within WFG who are definitely committed to helping people shift their financial status and build generational wealth. As far as the pyramid scheme goes. If you've ever worked a job, you've technically been apart of a traditional pyramid structure. The difference is, your boss doesn't sit down with you and teach you how to do his/Her job. You are restricted to a set salary, and hour. The 40 hr work week is the real scheme. Shift your mindset and be open
Good on you Nick don’t fall for the scam
@@kaybeewpg how is it a company that has grown so fast & is the worlds largest leader training company a scam? Please elaborate?
@@DJShanto1 Oh how time can change so much, I'm very glad you pointed me back to this comment, I have since that past month joined, and on my first day of passing my Tests, I managed to earn 1 Billion USD. It was amazing!! it really goes to show that if you can convince everyone you know to join under you, you can definitely make an amazing amount of money!! this was in 1 Day mind you!! i've been steady earning millions since that fateful day, and let me tell you the experience is fantastic I think anyone curious should join under me to get proper guidance on how to run their business
@@kaybeewpg8375 such a poor attempt at being facetious. 1.5 stars out of 5 🤣
Great commentary. I liked this guy's view on WFG. It is more balanced unlike some other videos I have watched. He doesn't recommend it himself which is just fine. Other people prefer the fact that WFG provides you with the opportunity to train and manage a team that will pay you back dividends in the long run. But he is right, it takes a lot more work to get started in WFG. The reasons why the commissions are so low is because your trainer is getting paid from your commissions. This incentivizes them to help you develop your own book of business. Other professions like real estate agents don't do that and so getting someone good to train is way harder and they will extract their fees in different ways.
I made 30% on my TFSA in 2019 with WFG. Best I could get from any other financial institution was less than 2%
Thanks Reg, got your email also will respond to it
Lol who the hell were you investing with, even if you stuck everything in a GIC you'd make more than 2%.
IA Clarington
My future brother-in-law is into WFG ugh. It's super cringe seeing him posting about his financial success / side hustle on Facebook when I know he's just a low level member. I bumped into his recruiter once at his house and wow he was just OOZING sleaziness. I wish I could bring up the MLM-aspect of the company but each time I do, my future BIL and MIL get super defensive.
What I do not like about wfg is that they basically tell you that you don’t have nothing going for yourself, you should quit your 9-5 and you have a small mindset if you have any different opinion than a worker from
Wfg. It’s aggressive , it’s horrible costumer service and all of the above. May not be a scam , but they don’t spend a lot of time training their workers / recruiters. Overlllyyyyy aggressive.
Thanks for sharing your experiences!
MLM = pyramid scheme
I was never told to quit my job. Most the trainees have jobs and work with WFG on the side. I agree with the aggressive nature, its pretty intense. However, you get what you put into the company. I disagree with the lack of training that's provided. There are many, training classes that happen, the problem is, that people may not go get that training. I am an honest person and fourth right person and I know in my case I would never guide a person for more than what they need for commission. That's not what I was trained to do. No family left behind and the educational value that people gain is explosive. People are dumbfounded about how they can save for their families with even small contributions. The model is quite MLM definitely but its dependent if you want to make a business out of it. In my case, not at the moment. I have a regular job, its a nice side hussle though.
I really do not know about any financial center of WFG that will tell you to quit your job. Now that is misrepresentation and my leadership provides adequate training to get the job done. As a black community, we really have to liberate ourselves financially and I have not seen any platform or campaign that does this than World System Builders (WSB-WFG). We are not telling ourselves the truth and want to be part of the statistics and still blame the government or someone for the decisions that we make. I wish I can have a one-on-one with you and address most of your concerns. The greatest miracle they say that could happen to anyone is Mindset. Change your mindset, change your future. Shalom
It might be the group you are with. It is not all groups that are like that.
I went to one of those recruitment seminars, felt like a scheme, and the minute they wanted money for a background and couldnt explain what it is i would be doing, so I opted out, and the staff became angry and hostile when i wouldnt fill out their info card.
Desert, send them to hell next time. Well, it's assuming that you'd ever go back.
Same experience
Sorry you had a bad experience bro, like McDonald’s every experience can differ between different franchisee’s i haven’t had that experience at all.
Not the Mac Donald excuse they need to rest 😂
@@qahless6900 Im just glad I saw it for what it is, a scam..
watched the video too late and just paid a fee of 150. Can I choose another insurance company after getting the LLQP
Once licenced you can use that at any company. I am also in the proess of getting licenced. I understand MLM very well. I just went in to get the certification. I have a good client base already from my other profession. I am going to learn and study the products for a while before selling anything. Esp ULI products.
The guy I just knew, he kept calling me and trying to recruit me. I thought I made a new friend, but it turned out not really nice. Scheme or not, this game always starts from people you know, your friends, family, classmates, etc.
Thanks for your story!
Exactly!!In the past few days two of my acquaintance have approached me with this.They are very aggressive and that set off some alarm bells.They want to make you a seller and also a client.I won't want to lose my friends because am looking for money.
A few old friends I called we so excited to hear me. Like I was calling to hand out. They now avoid me! I disappointed them. I feel so bad.
Good presentation .I was basically told my friend he earned 14000 CAD comminsion in 2 months .I started questioning my work or my career .i firmly believe they make u believe that what they are doing is gonna make us rich .while they are desperateky wandering around for people .I am more confident i can do much better in my career or starting my own business rather than part of team which makes you awkward socially .
Glad you enjoyed it!
Sadly i just started the license and paid the fees. I hope I find the video earlier. Do you recommend me continue get this license? Thanks! *sigh*
It really depends on your goals, if you love investing and finance maybe doing the course and getting licensed isn't the worst idea, especially if you can't get a refund. You can always change companies later if you don't like WFG.
Molly the license will open many doors in many companies! Keep going!
I got mine a few weeks ago! Best decision I’ve ever made 👏🏼 keep at it
@@marieruiz6380 did you get it with WFG and if so, are you still with them? I’m considering getting licensed as well
@@limna826let’s connect I can help you get liscense
I was never told to quit my job. Most the trainees have jobs and work with WFG on the side. I agree with the aggressive nature, its pretty intense. However, you get what you put into the company. I disagree with the lack of training that's provided. There are many, training classes that happen, the problem is, that people may not go get that training. I am an honest and fourth right person and I know in my case I would never guide a person for more than what they need for commission. That's not what I was trained to do. No family left behind and the educational value that people gain is explosive. People are dumbfounded about how they can save for their families with even small contributions. The model is quite MLM definitely but its dependent if you want to make a business out of it. In my case, not at the moment. I have a regular job, its a nice side hustle.
Thanks for your review! I was confused about the offer as many people told me it's a scam. But I'll give it a try! Anyway, it doesn't hurt learning new things.
Exactly. We all have both part and full time jobs while navigating WFG. Except for those who do the biz full time. Like anything there will always be trolls.
@@anhuynh4361 don’t be. You get out what you put in. Like the video said it’s not a scam . He just die like what he doesn’t like. It’s people like that who cast doubt in people s mind in other to pitch to them. If you know of Ed Mylett, he’s a agent. Just saying. It’s mot going to happen overnight. But trust the process. Trust in your abilities to make it happen.
You present a very good description of what I am the process of going through. My daughter (44 yrs. old) got involved with and became an agent of WFG. She is being mentored by a representative that is located in Los Angeles California. My questioned to you is if you think their is a better product than "The Athene Ascent pro 10" for getting an income, when I turn 78 yrs. old in 3 years? The amount I am considering in buying the product is $350,000. ?
Please learn about passive income and edit videos again. If you’re broker you can not forget this topic to mention that outside brokers have to find customer do advertising and lot of other headaches which is not there in WFG. Give whole information if you’re reviewing something. WFG changing lives, Wish you a good luck.
Any business takes time to Grow, it’s not overnight ✌️
Thanks
Exactly! But that entrepreneur mindset is NOT for everyone
So True
I recruited 2 1/2 people before i realized it was a scam. I reimbursed one of my friends the $100 fee, crying my eyes out bc she had been in tears herself looking for a way out of her job and was hoping this would help her. I had no idea what a pyramid scheme even was. She told the wfg agent that she felt it was a scheme and the lady tried to reassure her it wasnt. Like I said, once I realized I was wrong, I reimbursed her.
On a separate occasion earlier, I was then told to go on a practice test with a client to bring them to WFG. The agent told me this was part of my training or something like that and they said I could bring a friend, anyone. I brought my coworker/friend and she sat through the “financial education” the agent was giving, which was really a brief overview ab how much she could be making as an agent herself. So at the end of the session, the agent asked her, “So are you thinking about joining? Would this sound good to you?” My friend was like “no. I just want to get married and be a stay at home mom.” The agent then started pressing her, “But do you understand that…?” I was getting embarrassed.
Thankfully, my friend never joined and she now works as a teacher. I saw the agent who fooled me one last time at the grocery store. I was a little dodgy with our conversation and after our conversation she texted me something like “hey, u looked sad last time i saw you. I hope everything is alright with job. Just know you can always come back.” BLOCKED AND DELETED.
This whole experience made me so angry bc everyones time and hopes were wasted. I was in target a few months later when i overheard this conversation between this couple talking to this guy ab their “job” and how great it was. They even got his contact information, thinking they were ab to get laid. I walked over to the man and asked “Sorry, I was being nosy, but did they ever say WHERE they worked and what they actually do?” He looked at me blankly and was like “no.”
Thats bc in training we were told to not tell people what we do so they dont ask too many questions. I kid you not.
“Did they tell you the name of the company they work for?” I asked him
He told me no. Man, listen, I went IN and told him to watch df out and told him everything that happened to me and the tricky obscurity of “WFG.” I never got too deep with WFG but I did notice that the higher ups were inappropriate with women, including myself. One man, MUCH older than my early 20 hear old self, who was also a nurse, married and a grandfather looked me up and down and said “you look very pretty.” He did this twice on separate occasions and would ask if I am mixed (Im not). Often times, before the weekly meetings started, we were told to socialize with random people. It was forced and everyone would be smiling and fake AS HELL. Then they’d pass you off to higher ups, acting like everyone is so accessible. I was passed over (literally) to one higher up who, while facing me in conversation LITERALLY stopped engaging with me to look at a young female behind me. It was the rudest thing ever.
Two people around me who were much older warned me ab the company and we sat down for coffee and researched the controversy. I’ll never forget in training we were told “dont listen to the comments and articles about us. Listen to what WE are telling you” which is scam and cultish rhetoric.
Know the signs and avoid these kinds of recruiters smh
Crazy ! Thanks for the info
Scam, scam!! How is this guy getting pay for this video?
@@gladyslopez9767 it could be through ads or affiliate marketing with WFG. He could actually be a WFG agent too
I just know the company as well but i gotta ask. How did they scam you and what exactly did they scam you ?
I have read your story and the experience you went through was true! But i still dont see the part where they scam you.
I meant for me, every job does require experience and license, so it was fair to get the license here. So i dont really have complain to that.
I always dont believe in Insurance but I actually end up buy one myself ( i dont want to explain why but it actually suit for my situation as a single mom , i bought Ul 20 and decided to leave it for my kid and my parents ) I haven’t recommended anyone to buy insurance because for me, not everyone needed it.
I like financial and i do trade stock too, so I just help my friends with a few simple case like open account RRSP or RESP and TFSA.
I don’t get pay that much but when i help my friends with those account and saving them a few hundred bucks on tax ( which is not illigal) i feel happy
Now reading this I am not sure what todo 😢 i meant i havent done anything wrong and by eyes, i havent seen anyone in the company doing the wrong things.
Wfg is considering one of my partime job so idk… you are the part of why i dont recruit and decided to be forever trainning associate 😅…. But really. What is wrong ?
@@Junny964122 There are good and bad people in any business, not just WFG. Don't let strangers on the internet influence you, do your research with the government and banks.
I wish I have your confidence. I got duped $7,000.00 by a Filipino couple from Bolingbrook, Illinois. WFG said I cannot get my money back because I could have been paid full insurance during the time I had the policy.
There is a reason why they turn off comments in their official TH-cam channel.
Sorry to hear about your loss
You are lacking confidence, you are lacking a brain.
My friend invited me to a WFG zoom call. She's pretty excited, but I told her I needed to do a little digging. I'm glad I did. What you said makes a lot of sense. I know my friend is very excited about joining, but I'll share your video with her anyway. Thanks!
Thanks Kathy, hope this video helps!
Not everyone has what it takes to be a successful entrepreneur! It’s hard work
im so happy your friend understood the value! learn about money and teach about money !!
@@marieruiz6380 True like 99% of people that don’t make money in an MLM like WFG.
@@Ty.88 like any business you have to put in your time...and also tell me why is ed mylett so successful? He's done the business and gives the blueprint. I've learned not to follow the advice of the masses!
At other companies you may get 100% compensation but you will be associate and you will be self-employed, WFG offers you a chance to build a business in Financial Industry. Compensation might be low at associate level but at SMD level your compensation is 66% plus you have licenses who are working for you and giving you the passive income. At SMD level, on top of 66% you get quarterly bonuses also. In other companies you are just working as a self-employed. If you want to be self-employed go work for that company, WFG is not for employee mindset people, This company vision is big which employee background people won't understand. They just need 100% FYC, so go get it and be self-employed for whole life
thanks for your input
Very good breakdown. I own a fee-only registered investment adviser (RIA) in the States. I have unfortunately seen a lot of the ugly that can come from working for WFG or buying something from a WFG agent. And really nothing good now that I think about it 🤣
What bums me out is most agents are well-intentioned but are indoctrinated into WFG’s MLM recruiting practices before they even know anything and are sent out on the street pitching awful products that they aren’t even fairly compensated for. I believe starting Associates are only paid 25% with the only way to “earn” a higher commission rate being through recruiting others beneath you before you even know what the h*ll you are doing.
Companies like this and the agents they develop play a big part in the terrible reputation of the financial services industry. Even most reps don’t mean to, but they just don’t know any better 😪
most of the agents are has no knowledge about financial and just trying to add more agents..they will try to make people greedy and tell the people as u will make this million and that million ..but never shows any of the clients have made millions..you can see easily as all the agents are greedy indians ..
@@binoymohan8764 l
@@binoymohan8764 The thing is, with WFG they don't even offer 100% commission EVER. It's not even an option
@@binoymohan8764 And the video has a valid point, it could easily hurt your reputation
@@MrPauny Commissions is not the revenue in WFG, it’s passive income through royalty, dividends and capital gains. You can decide whether you want to work rest of the life making only active income such as commissions or choose to enjoy passive income business by building a huge distribution. We’re a business owner from day 1 and this opportunity is not available with any other organization in the financial industry
People are paying to get started with agencies who offer low compensation and a recruiting strategy to get higher pay, why?! When they can get higher comps with agencies who offer 100% or more from the start for free
I suppose it's because it's an easier route, or they were pitched it by someone they know and trust.
What other agencies are you talking about
What you’re paying for is your licensure through your state.. same thing with cosmetology, barbering, real estate.
Some of your remarks are very inaccurate. WFG is not the problem. It is the financial industry. Commission based system (also in real estate, mortgage, car sales and other industries) and MLM systems is the problem. it also depends on the WFG agents you meet. WFG agents are not financial advisors unless they have other designations like CFP. The client/prospect also needs to get educated too before investing or buying insurance with a WFG agent.
All good points, thanks Toby! I agree, financial education is the key
Very useful. Thank you. Glad I did due diligence, looked up WFG, and found your video. I was approached to be a customer and had some unease about insufficient information provided by the person who approached me.
You fucked up. WFG is not a scam. They use the MLM system but that itself is not an issue. The problem is a lot of shit companies use MLM to sell shit products they couldn’t sell otherwise.
Just literally finished a zoom call with WFG! But I think my answers were not what they were expecting, because 10 minutes after the zoom meeting started, the presenter was scrambling trying to end the call! I was told the meeting will last 40 minutes, by a friend who was doing their training!
Welp!
Weird, hope it goes ok!
I just finished my Zoom call, same shit happened to me. I was asked to gather my financial info on my previous call about mortgage and life insurance process that lasted less than a normal orgasm does. I got a call today, and nothing was discussed about my finance and just got directed towards training and licensing and call lasted less than 8 minutes.
😂😂😂😂
So glad I took a listen. Unfortunately I already started the license process and paid the fees. At first I thought the training and certification was for financial planning but then I learned it was 100% insurance producer license and I was really upset.
Hey Andrew, I'm glad the video helped! Don't worry not all is lost, my advice for you would be to finish the insurance course, it provides a good base for investments actually. I'm guessing it's the LLQP that you have to pass (for life insurance?), and insurance products are good to know if you want to do financial planning. It doesn't matter if you pass the course at WFG or anywhere else, it's completely transferable. The CSC is the course you have to pass if you want to be licensed for investment products which you can do after. Insurance sales can be lucrative also, and it's good for your clients to have if it suits their insurance needs so it's a win-win.
Yep, WFG and its "financial planners" are really just insurance salesmen that legally cannot call themselves "financial advisers" which is now a protected term.
It is not a waste at all. If you get your license you have thousands of products you can sell for a good commission. Why is that a bad thing? It is absolutely financial planning. Has your team taught about the FFIUL yet? This is specifically for that purpose. It provides insurance and compound interest to grow that account. Maybe give it a chance and learn about the thousands of products WFG has the ability to sell. Did you know that even without a license and just with your membership you can make money referring people? Don't trust this opinion of this content producer who has only guessed at what WFG is and poorly guessed at that. Nothing in here is based on fact that is negative.
@@shanefoster5305 Here's an article on the issues with UL life insurance: www.newswire.ca/news-releases/half-of-canadian-policyholders-are-being-sold-a-costly-life-insurance-product-that-most-people-don-t-need-853899709.html
CLIFF NOTES:
Why most Canadians should avoid permanent life insurance:
It's expensive - Costs 10x term insurance. The client will overpay during the first early years.
Difficult to understand - Many complex or hidden fees in the fine print.
Limited returns - Earnings lower than in TFSA/RRSP earnings after fees.
Illiquidity - You can't reduce your monthly premiums if you're ever in a cash crunch.
Potential of lapsing - Nearly 88 % of universal life policies never pay a claim. Why? People eventually can't afford the premiums temporarily.
i quit wfg and the other marketing company i went to afterward, i couldnt be the person i had to be in order to make it work, i dont smile and i dont talk with enthusiasm, something my leadership always stressed was necessary. i got tired of being phony.
My mother in law is going through a divorce and one of her relatives got her into it. I feel really bad because she thinks she life is gonna change. She's a teacher at a high school I don't see how this happened but I feel like they're being predatorial about her delicate situation. I've been sending her links and videos like this. I appreciate how you did yours you have no biased your going straight down the line. Thank you for the information
I'm glad to hear my video has helped educate a bit on the topic
Sadly, WFG and it's associates have been fined for shady practices like pushing policies in senior homes and misrepresenting themselves. Just read their Wikipedia for a long list of fines and infractions. They also love going after new immigrants and foreign families. Your case does not surprise me one bit as it fits their predatory practices.
@@jelin5233 There isn't a long list of fines on their page for their work. There is a very small fine for individual business owners misrepresenting WFG but very few compared to other insurance sales agencies.
Unfortunately this video is mostly opinion and very little fact. The opinions represented here are not based on facts, but on hearsay. So sadly this one is a waste for anyone wanting to find real info on WFG.
Rtistic Pictures as someone currently working there everything he has said is pretty freaking accurate
As an associate with the company, I like the fairly unbiased breakdown. The first thing I did when I joined WFG was search the internet for its reviews, and most of what you see there is nothing short of impulsive prejudice- people calling something they know nothing about a pyramid scheme, just because they have a vague secondhand account of someone else calling it one. However, when you ask them exactly what a pyramid scheme is, they don’t have much to say beyond ‘people at the top make most of the money’- and my first reaction is, you mean every successful business ever?
I do unequivocally believe that a certain bit of skepticism is essential when it comes to buying into these things. Most of us aren’t intuitively geared to digest the idea that you can ‘get rich quickly’- and for all the right reasons.
It’s important to note, however, that WFG does NOT advertise that you’ll get rich quickly with minimal effort. If one of the millions of employees did say that at some point, that’s not the ideology the company itself peddles- what it does say that if you follow a tried and tested system consistently, you will achieve results. And as you yourself pointed out, it lives up to that goal. The precondition that you follow the system, however, is a must.
When we talk facts, we shouldn’t fail to mention these things-
1. Most people, including me, are reflexively wary of ideas that seem too good to be true, and that’s important, but when you’re prejudiced to the point that you’d rather resort to cheap insults instead of trying to understand, like most people instinctively do when they hear ‘wfg’, your opinion can not be relied on for an accurate assessment. (I don’t mean you specifically, because your breakdown was rather logical and unbiased).
2. WFG is legal and as you pointed out, heavily regulated. It’s not a scam, it’s not a pyramid scheme, it’s legitimate. It has official partnerships with major banks and insurance companies, and that’s not something you get for being a scam.
3. It really does change a lot of peoples’ lives for the better. Hearing rags to riches stories can be rather corny and it can be fairly difficult to believe that these things are possible, to the point that we rebel when the ideas are suggested. It doesn’t just change its customers lives on virtue of them being consumers of the products, it also changed their lives on virtue of them being an employee within the company. The system, although morally controversial, really does work. On the other hand, if it wasn’t controversial, it wouldn’t be as successful as it obviously is.
You’re right that their recruitment tactics can seem rather predatory, but having been here for as long as I have, I think I can safely say that the ins and outs are more than just material gains. There have been certain times where I felt like they wanted me to get on board purely out of self- interest, but I’ve also heavily witnessed that rejections are respected. There’s definitely a mild push on the fact that the initiative must be shared, and no mature person would deny that it stands to benefit those sharing the initiatives, but ultimately, they’re not the only ones benefited, and they don’t lie.
As for the negatives, they do seem to peddle the connotation that other jobs are ‘oppressive’, and I find that notion slightly detestable. If your material success comes in return for you vilifying the entire job market beyond your own company, I don’t consider that success at all. Another thing I find disturbing is their narrative that ‘smartness and critical thinking are hinderances because in order to be successful in the business, you must blindly follow your leader’. This is kind of thing you expect to hear from someone who doesn’t want to be questioned, because he knows he doesn’t have the answers. And he can safely leverage that position against the idea that if you question, you lose. Because of that, a lot of people dive straight in without doing their due diligence and suffer when they find out that it’s not all roses and sunshine.
Anyway, no model is completely perfect, and there’s no denying that WFG in particular does spark moral controversies, but it works. It doesn’t rely on indecent promises of reward- it makes it explicitly clear that in order to be successful, you have to put in the effort, which is true for any other business or pursuit in life.
What I’d ultimately suggest is a productive dialogue between the representatives and the people opposing. It gets a lot of undue bad rep that’s founded in groupthink. Most people who parrot ‘pyramid scheme’ do so out of no valid research of their own, and that, in my perspective, is problematic.
Thanks for the comment, check out the blog post I have softened my approach from this video a bit but my final conclusion remains the same.
Pretty good reply Jay! Just would add that the WFG model is not for everyone because we don't need 100% labor force participation. Also, lots of people just want to stay comfortable in a job. Hopefully, they don't experience the "cheese" being moved (downsizing & layoffs) in their later years? WFG is an opportunity for anyone but not everyone can see the treasures of being independent business owner within a team concept.
I am so unbelievably torn right now. I have seen so many different perspectives. I am currently in the process of getting licensed and I really am wondering if I am doing the right thing. 😔 I’m only 21 years LL and am extremely uneducated about these topics. I wish someone could tell me if it is really worth my time or not. I have made great connections with the brokers but I feel something is off 😰 someone please help me
I am also in the process of getting my license. I feel like it depends on your goals and what you want to achieve. Me personally, my family and I were never taught financial literacy or anything to do with money and how to prepare for the future. I just want to educate people and guide them. If it doesn't work for you, you don't have to continue. I just see it in a different perspective. I am a musician and a lot of my friends don't know anything about money. I would like to help them. People can say it's a scam or what not but everyone in this business is licensed. There is always a hierarchy in everything; family, business, animals, etc. Do what makes you feel good.
I just started and this video is really misleading. Change your mindset and change your life. Don't let this video stop you. Take the steps and learn for yourself. I am glad I am doing it. Find the Why of why you chose this path then watch yourself succeed and you will see why this video makes no sense.
i like the way you think
@@Prizmadelik
yo legit same spot.
How did it work out? did you end up getting the license and working at WFG? was it good?
did you just give up or go work somewhere else?
I want to get a license, but other than WFG, which one would you recommend? Because just a WFG agent contacted me a few days ago. I'm interested in getting the license, but could you tell me what other options I have?
It depends on where you live, google how to get life insurance licensed in your Province/State
@@WealthAwesome I live in Ontario. Can you suggest me something? Because I'm very confused.
I'd say go with wfg
@@vprem309 exactly
Get your license and get out.
The girl that tried to recruit me just asked me very basic questions, that everyone would say yes to, like you have to agree with her. She's a good pitcher indeed, but I saw through it. Nothing in life is all that good for free lmao
Hi Antonio, If someone offers you a good food for free, will you get it? What if someone offer you a free ride? And what if I offer you all our WFG services to you for free?
i got recruited a few days ago and had a meeting earlier. when i was asked for my card info I had a moment of wtf am i doing and didn't give them my info. it was pretty suspicious since someone i know gave them intel on me so they knew what to tell me so recruit me. i was scheduled to have another meeting soonish but after reading some of the things in the comments and the video I'm getting out of there. thanks for the warning video and all the comments who helped clear up my mind❤
Hey there! Good thing you left. Based from my experience, my sister and I were forced to sign up for Wfg. They tend to mislead anyway so do not proceed with them. They only care about making money and not the people they leech on to.
@@zheynet5352 thank you for the heads up!
Hola! he visto varios videos como este y en general todos dicen lo mismo, que hay muchas maneras mejores de hacerlo o mejores compañías, pero ninguno menciona como o donde o con quién.
Tienes alguno donde lo comentes o como llevar buenas finanzas en Canadá?
Que compañías recomiendas o donde puedo tener la información para tener estos productos que necesito?
@wealth awesome Are you compensated for people who sign up for financial products through your link?
I have partnership with some companies, but not all of them. I only recommend companies I truly believe in.
WFG "training" so far has been Zoom calls about how great they are and how much money various people have made.
My mentor tried to sell me insurance! I thought the purpose was to show me how to sell.
My Insurance license has only cost me money. I'm probably going to let my license lapse
This is unfortunately a common experience. I hope you figure it out Andy.
Andy, don’t let your license lapse. There are great and legit opportunities in the life insurance industry. Don’t let a bad company or bad experience stop you from doing well. I was with WFG for 5 years and recently left to a brokerage where I don’t need to pay unnecessary fees, which provides real training and work with leads with very high compensations. Keep your license. You paid for it.
@@Said2791 I’m in the same boat. I just got my license but have no desire to work for wfg any longer. What can I do with the license??
@@reliza93 I left for another company that is only focusing on training about sales and products with twice as high compensation. Where do you live? USA or Canada?
@@reliza93 Me too! I just bought mine on Friday and after doing a lot of research I'm very skeptical about it all.
Perfect breakdown, I agree that most of their “advisors” lack the knowledge of financial planning. The clients are better off than the agents in my opinion 🤷🏼♂️
They're not "advisors" they can't legally call themselves that so they call themselves "financial professionals"
Joke.
Dear Armen, may I ask you to set an appointment with me and evaluate my team's and my knowledge, please? Let's do a challenge here, fair enough?
Omg!!! Thank you so much for taking the time to make this very clear informative video. I have felt the pressure with WFG. I can't deal with people who pressure me and are so pushy. It is a long story. I have to get my $124. Thank you so much!!!
You are so welcome!
Like what they say continue your licensing take advantage out of it and then work with other company that That is not like WFG . For me I will be getting licensed . I paid for $120. So I ll just get educated and licensed …and take advantage of their free lectures seminar .
@@aseretaretrom4807 Hi, Would you be open to an email/phone conversation about your comment and my current experience with WFG?
@@aseretaretrom4807how did that work out?
I lost my $ 125 to register by a woman working for Bank of America. It is a MLM so I advise people not to register it then at some point, people spend more money on this company, regretting it is late👎🏻
Big thumbs up my friend! They have pursued me heavily the past month and after losing my current position I thought that it may be a good idea. Great video.
Have you done a review on greatway financial? Which is better between WFG and GWF?
Check out my blog post about greatway here! wealthawesome.com/greatway-financial-review/
I had an interview with an agent this weekend, but after watching this video i think I'll reconsider. You made me dodge a bullet there bud! 👌
Glad my video helped!
This is a lot of misinformation
@@Csternsful Yo Craig, which branch are you with? Markham? Ottawa?
@@Csternsful yo sign me up for that sweet UL that pays out less than a cheap ETF 😂
@@jelin5233 Sounds like an agent did not show you how to fund the investment properly and didnt show you an illustration to gauge whether or not it will lapse. You seen like a witty person. You’re probably quite intelligent for all i know. I’ sure you can understand how an uneducated ignorant person can write a bad review on google or how an unethical agent can misrepresent a company.
I think MLMs offer the worst of both worlds. Its like a job becuase of the upline and all the managers you have. Its like owning your own business becuase you have no guaranteed income.
If I got state lisence from them, didn't sell anything yet. What company you suggest in USA, if I have lisence and decided to move to other agency or company
Sorry Alex I'm mostly based in Canada so can't really help you with specifics for that. Search your local region and speak or reach out via LinkedIn to some insurance agents.
Thanks mate
Anything other than wfg!
What would be better company options in your opinion?
You just saved me $200. I was working with someone who has been trying to bring me on board with WFG. I canceled our meeting because I did a little due diligence starting with your video. Thank you. I'm stuck in a dead end job and I'm now focusing my energy on a better way out.
I hav a friend who ive had a couple of meetings with thats been getting licensed n my experience has been the EXACT opposite. I took interest in being provided free consultation on budgeting & building wealth. Although ive been hesitant, it’s been surprisingly refreshing! No pressure to move on anything i dont feel comfortable with, every single question & reservation ive had has been met with clear information & never coercion. Not much priority on recruitment, although this option is put on the table if the patron takes interest. That being said, would this vid suggest not purchasing these different IUL life insurance policies cuz they seem like great opportunities ?
I'm glad that you're having a good experience there. Best of luck
Wealth Awesome yes i appreciated ur input in the video! In regards to what ur discussing here tho & the question i posed i was hoping to hear more of ur input on the insurance policies & financial consultation services they provide which the vid didnt touch base on
Well articulated Michael, I'm the process of moving forward, the license works for any company and it's my license, I can take it anywhere. Several positive attributes I've experienced are: 1. Discount on the training course, self paced learning, access to material, business model and process. It's all available to the potential client. The products are from reputable companies: Pacific Life, Prudential, Nationwide and Jackson. The $150 for the course and $88 for the license is an easy call...solid infrastructure too.....
@@Moor2011 If you don't mind. What does "I can work for any company and "I can take it anywhere" mean? Do you mean within WFG?
I could be wrong but I think it means once you're licensed you could work for other insurance companies outside of wfg. @@cali.songbird
Overrides is the name of the game! 100% contract is lame. Keep building!!!
Thanks Patrick, yeah overrides are important also!
Yes!!!
Spread&overrides and inherited business. The art of franchising. One who thinks BIG would understand
WFG educates individuals and families far more than any bank that people go to go to open up TFSA's, mortgage insurance, car insurance etc. NO bank is going to send you across the street to another bank even if they know that bank can give you a lower interest rate or higher rate of return. what WFG does is SHOP for you, YOU do not pay WFG, it does not cost you any money to work with WFG, once WFG finds you the BEST options for you, that bank or company pays the advisor that found it for you. Recruiting is an option, many agents choose to strictly with with clients without recruiting. A lot of this information is FALSE and the numbers do not lie. They work with 80+ major financial groups and banks, like TD, BMO, and RBC, so im not really sure how that could be considered a SCAM? unless all these banks are scams too? one bank is going ONLY going to have an agenda for that bank, so what do you get? you get only what that bank is offering, that bank is not going to shop around and tell you how much insurance you need, what kind if insurance is best for you, WFG does that. I personally know many people that have saved money monthly, got better returns on their investments and was BETTER educated on how to plan for retirement with WFG. Think what you want but if WFG is a scam, consider your own bank a scam too.
Thanks! I specifically say in the video that it isn't an illegal scam.
Ladies and gents, this is their standard copy/paste response. They legitimize themselves by saying they work with major banks and manage trillions in investments. However, the overworked dude in the bank does not get a commission cheque so they do not prey on you. These WFG guys on the other hand...
@@jelin5233 If this was a "standardized copy/paste" would there be typos? I don't even work there, but check the numbers. Unless those are copy and pasted too. And its very clear they work with major banks and investment firms, how would it even be possible to claim that without repercussions? That overworked dude at the bank works off a salary and quarterly bonuses (based off sales) not to mention he works 9-5, if thats overworked I'd hate to see what you do, and that "dude" is very limited to what he can offer, why? because the banks agenda restricts him from offering anything more.
@@CP-cs5ih the dude in the bank gets paid a fixed salary, unlike these WFG/WSB boss babes in this MLM that promises a higher commissions as they scale up the pyramid. I have never had a banker call me 4 times a week wanting to introduce me to his senior whatever director to talk about ULs and how they can help pocket err I mean invest muh money.
I personally talked to different insurance brokers, and only one from WFG could explain properly and professionally all pros and cons of Life Insurance and find the right one for me. I also didn't experience any pressure in terms to be recruited. So your opinion is only an opinion that have rights to exist but please avoid giving recommendations to others.
Thanks for your input Antonina!
I have a bridge to sell you!
Im selling Luxury Beach front resort Timeshares in Juarez Mexico that would be perfect for you. I can answer all your questions related to these timeshares
@@aaap3875 scram! I was here to sell my bridge first! 😂
@@jelin5233 loooool
Such small pay outs? We get paid royalties dividends and capital gains bonuses overrides. And a damage to your rep is a given for anyone pursuing something greater, because most people want to play it safe. Why would I want to maintain relationships with a bunch of regular low expectation havin people. And if you said you wouldn’t purchase any of our products, chances are you already have similar products directly from the manufacturer, we get exclusive offers from the same company you already deal with.
thanks for your input.
of course they take your money, why am I gonna pay to be an employee? that's like paying someone to help a drug dealer sell their own drugs
Haha. Funny analogy!
You literally pay to earn your license through your state lol. I did the same thing with barbering and makeup. So they don’t “take your money” educate yourself!
You are not an employee you are 1099... you are an independent contractor.... why uber takes half the fare of their driver? Why do you pay them? Why to have money to invest to start a business?
@@marieruiz6380 That's only IF you pay a single fee to earn your license unlike this MLM, which makes you buy worthless supply from time to time. And yes, I'm educated and it'll pay off more than whatever you're doing 😉
Working as insurance broker= employee, Using WFG to contract with investment/insurance firms= Self employee or agency owner.
I think what you mentioned are different roles.
Thanks for the input
Exactly. I agree with you but I don't like is their MLM commission rate. New associates make only 26% while WFG corporate and the senior hierarchy get to share the remaining 74%.
@@tobyElearning i have a few questions for you. If i start work as an employee in a company, who makes the most money?? Ceo, person with experience, or a brand new person out of college? And also wfg agents get their license updated on FSRA , a government regulated website. So is government giving these peope license to scam people? That’s what i was asked . Please answer if u can , to help me make my decision.
@@nn3340 When you get hired by a company for JOB, the owner takes all the risk , you get paid regardless of how the business is doing. In an MLM commission , your pay is not guaranteed, you take all the risk. It is understandable if a JOB company keeps most of the money when the business is doing well because of the risk they are taking.
@@tobyElearning but the risk is just merely a government license ,don’t you think? They asked me to get a license for maybe $300. I used to spent this much on my travel to office. I got laid off in job. I didn’t get any job for 3 months. That is also a risk i guess? 3 months on my savings only. Same happened with a lot of my friends but one who had the license. He was making good money as an associate part time.
Very informative video and agree with everything. A total vulture mindset is needed. First red flag is to mix business with family and friends.
Absolutely!
So true, some of the friends I had a meeting with are not even picking my calls. Glad I left
Your family should always be your first clients. If you opened up a salon, wouldn’t you want your family to support you? It’s the same with any business. They talk about the warm market and utilizing it cause it helps you build up yourself, your confidence.
My cousin works for London life now Canada life and she sold me insurance. I was happy to support her.
I’m going into a Zoom meeting here this week, I’m trying to stay unbiased and I’m interested in getting my license and getting into the finance industry. The one thing I am not interested in is selling to family. Or putting my own money into anything.
You don't have to do either of those things, but it seems it will be heavily suggested for you to do so.
@@WealthAwesome thanks for the response appreciate it 👍
You absolutely don't have to sell to family in WFG. However if you truly believe that Life insurance and investing are important, then why wouldn't you involve your family if it's helping them?
@@shanefoster5305 shut up
You don’t want to put your money into anything. Tell me please regardless of industry what license is FREE. Please and I will absolutely go get it.
Some of your information is incorrect. You do not need to recruit 3 people during fast start. That isn't even in the fast start requirements. If you you don't comlete the items that are listed in the fast start, you can continue and learn at your pace.
I just got out of WFG. I had a strong feeling it was a pyramid scheme.
Let's do some math, $792 million payout divide by 42000 workers, that's $18.9k on the average. If that's what they make a year, that's minimum wage. I don't know how long they have been in business, the finances just look very sorry, I have to say.
yeah im sure there's lots of variance, and that is mostly made by the top 5% of workers also. Im guessing a lot of those workers don't make a dime.
According to the FTC, 99% of people in a MLM don't make money or lose money
Not all 42000 workers work apparently. There are ppl join WFG and find all kind of excuses not to work but expect good earning. I have handful. Thus, what make one more successful than others : commitment and work ethics.
As “polite” and “unbiased” his tone of voice may sound, so much of what he is actually saying is outdated, taken out of context and just plain incorrect.
Ive been a part of WFG for 5 months and it has completely changed my life. I was EXTREMELY skeptical at first.
Yes there are different promotions but that only increases your commission percentage, not your income. You get what you put in.
I took it upon myself to quit my job because I immediately saw the possibilities. Starting out part-time I helped 2 families save a total of $400 in premiums & it got me over $2000 in commission on a single check. Money aside, I LOVE helping people & hated having a boss. So it was a win win for me. Also, literally everyone needs life insurance. It’s that simple. No family gets left behind.. there is NO shortage of options. We write for 75+ different companies. Even if you can only save $25/mo, I am going to do everything I can to make sure your loved ones don’t have a financial burden when you leave. I joined this business because I learned so much financial information that has been withheld from the middle and lower class. I joined because it breaks my heart to see people begging for donations to cover funeral costs.
I love the support from my leaders, the WFG culture, the trainings, the trips we take, and I love what I do. I am STATE licensed, not company licensed. WFG is the platform.
My advice, figure out what YOU want to do with your life and don’t base it on the experience of others. I never in a million years thought I would become an insurance agent. Regardless of the company, I know that THIS is what I was meant to do.
Right! It sounds like he has his personal issues with WFG. A lot of WFG advisors are in Forbes and we have people in huge industries that are in WFG. You don't have to recruit people a single person, its optional we have huge personal producers. He didn't like that comment though.
I am amazed at how they manag to make living zombies out of ordinary people and use them to defend them like a cult. That's the biggest redflag for me even though everything you said is the truth.
@@lantherpagdi No one can use me.. however, you are entitled to your own opinion. I don’t want everyone to understand what it is I do. I just hope we all are successful in whatever we choose to do.
I appreciate your input. I'm a former retail sales stockbroker. I did a Zoom with WFG and they are very interested in me. That was 3 months ago they never pressured me and I'm joining the team so far on a part time basis for now.
As far as a multi level/pyramid thing company goes, all you people don't understand how a business works, obviously. Here's the rundown!
Let's use colleges as an example for simplicity....
The colleges start with, at the bottom levels and work their way up to higher levels, all getting paid differently as follows.
Cleaners, maintenance and technicians, security guards = Different Pay scales
Admissions, administrative staff = Different Pay scales
Directors, coordinators, professors, coaches and all faculty etc.... = Different Pay scales
All the way up to the top of the pyramid or top levels of the "Hierarchy" are the department deans etc... = Different Pay scales
Then the board members at the very top = Different Pay scales
That makes it a business model, not a pyramid or multi level scheme. Wouldn't you agree? Isn't this what you would call; "Climbing The Ladder"?? Too many people always thinks bad things about businesses like WFG. It's not and never will be a BAD company.
Technically, every company in the world is a multi level/pyramid company and is always recruiting good, new people to build its business model. Isn't it?
Hello, thank you for such good info! I'd like to suggest that you get a good microphone and use some compression software so the audio will match the stellar quality of the visuals you went for as well as the clean editing/effects.
Hey Duane, thanks for the compliments for the visuals. I am aware of the audio problem! I have a new Rode mic that I'm trying out for my next two videos that I'll be posting next week, let me know what you think, I hope the audio will have improved.
Wealth Awesome Wonderful! It didn’t stop me from subscribing. :-) I look forward to you next videos!
Thanks for the support, I'm super new at TH-cam so can use it :)
For legal reasons it isn’t disingenuous or an illegal scheme
But for all other intents it’s a scam
It's a MLM
Your insight provided clarity about what is really the WFG goal... my gut feeling told me that I was not being told honestly by the recruiter and felt pressured to give the money to register as an associate!...I assumed it was refundable if I decided not to go ahead with licensing... I am still trying to get my money back & I never physically signed the agreement!... the recruiter made the application online during the zoom call!... I do not recommend anyone purchase any insurance from WFG!
Sorry to hear about your bad experience Mary. I'm glad my video provided some insight and happy that you enjoyed it. I hope you get your money back!
So what would you do instead? Why do people say no but no reasons why. Usually you will find there a competitor and there company does absolutely nothing different
When it comes to MLM, I believe that at the end of the day it's all about the quality of the product. My advice to people wanting to join is to focus on the product.
thanks Tim
I disagree. In most MLMs, the quality of the product is usually an afterthought. The main focus is whether you can be recruited into the seller's downstream and "be your own boss", "work your own hours", "achieve the dream" or some similar nonsense. According to research at the FTC, a whopping 99% of recruited sellers lose money in an MLM venture.
@@jelin5233 Exactly, if the product sucks, I'm not interested.
Any business is going to difficult to build or scale. Even if it’s mlm or traditional. I have e-commerce, wholesale/logistic, and Amway. Amway is either a success or a lost cause depending on the seller. The great thing about them is not paying for a storage or logistic company to move products. They’ll do those for you. You can smell, touch, taste, feel, and hear the product in front of you versus crypto, insurance policies, or stocks. Anyone can sell Amway, should be the easiest form of business. There’s no way you can lose money, in the USA you have 180 days to return their eatable/house goods, and 120 days to return their equipment if you chose to stop doing the business
So sad to know CSUN works directly this company I was approached by a WFG associate because I was applying for internships and the agent tried to make me feel more comfortable when she said she works with cal state Northridge for years I even asked if her company was an MLM but she said they weren’t because she claimed they don’t get paid by recruitment and bc they get paid by services provided to clients
she's right, you don't get paid to recruit. An agent educates a client on a product, from a company like, Royal Bank Of Canada, the customer chooses to use that product, RBC pays WFG, WFG pays the agent his split and THE DIFFERENCE goes to his upline as compensation for training and mentorship.
I have a question. I just had a conversation with a WFG agent. I just want whole life insurance, if I sign up with them and I die, my family still gets the money, right? It sounds like most of the criticism was towards working there.
Yes your family still gets the money, they are real products they sell
Loved the explanation.. i do joined WFG now and is trainee associate. I have just written for Financial advisor license and waiting for results. Now i guess having License is benefitial in some or the other way as this provides me access to financial resources. So, is this enough or should i keep doing this stuff?
Manish go for it, and if you dedicate yourself to this business, I promise you'll success, no one hates more money right? Good luck. Always listen to succeeded people, not losers brother.
All big corporations have hierarchy system only difference is we get paid there on hourly basis as per insurance industry, even real estate all commission based. In real estate business they call it broker and agent and in wfg it's considered MLM
Cost is 1100$ for 1st year and 600$ from next year onwards. You can make money if you are desperate and can sell irrespective of clients needs..
Also make people join and force them to sign up even if they have zero skill in selling.
That's good to know, I didn't know the per year costs were so high!
@ricky tann
1year $500 to get your license and then $600/year to maintain lisence. Added the above two for 1st year expenses. 2nd year onwards $600/year. Besides day to day expenses to chase prospects, giving them tea coffee, sometimes invite for dinner lunch if they are resisting.
Compared to running a business where you spend 10+k just to make profit. In wfg you spend 1000 or less on average, with the potential to make unlimited amount of income.
@@trevaughnbrown1211 Don't mind them. People will be looking for how to do a business or enter a career without spending any money as if that's possible. 1000 for licensing and all is so cheap. Only very broke people will call it high.
What I’m confused about is, they have license to sell insurance products and mutual funds.. but I don’t see a designation to their names?
Thank you for this very thorough video!! Amazing content. I am worried as I have a life-insurance for investment purposes with WFG. Would you recommend I close and get out of the contract? If not, what should I be careful of and inquire about? If so, where would you suggest I go instead if at all for life insurance.
Get out now bro. Its a pyramid scheme and a scam.
Try to find someone to take a second look at the contract to see if it's suited for your needs. Check out PolicyMe or PolicyAdvisor
Right on, my daughters boyfriend and her got involved in this. I attended a training session with her and their partner. Only knowing what little she told me I learned more from this session then they did of mine. I am concerned and not a player. Great review.
Thank you for this video! I had an interview scheduled with a lady who offered me a job! She seemed super nice but wouldn’t give me her website to look into the company so felt sketch...I thought it was a kidnapping ring 😂
Haha, yes, trust your instincts on this one!
Unfortunately the lower to middle class all think this way. Educate yourself!
I had an interview lined up, and was wondering why the name of the company that was "interviewing" me had a different name from WFG. And no website... LOL
The issue is not that they don't want to give you a website. It's that you have to understand the business opportunity....
Mr. wealth Awesome what are the other company's we can work as financial advisor as parttime job ..
i just saw transamerica’s (wfg’s parent company) insurance rating and they’re pretty good. as i struggle to find the right fit for me (maybe IUL’s)
I agree, transamerica is a good company.
I’d have to disagree. It has 2 stars from JD power and an average rating of 1.1.
On the insurance side of things they have around 3.0. When they tried to recruit me they told me they only worked with 5 stars to find out they don’t have even have the integrity to be truthful.
I am in the process of licensing. Got discount on study guide , finger printing . Just now I need to pay for the exam which I will schedule soon. I have questions if I want to quit how can do it ? If I get my license will they terminate it because I quit ?
They can't terminate you - you are not captive.
Hello, care to update please? Interested but still wondering if the license is a good start
Hello my friend, introduce me to WFG, Yes did finish the Zoom call and process with the meeting, but the downfall is I am not a social person and don't like wasting time and you have to find recruits to join, and I haven't started my licence yet! I just told my friend I don't want to hurt friends and be pressure to find people to join to be part of it and planning to leave, because it is not for me and can't be force to stay? Plus my friend isn't an experience person yet and hasn't got her licence either, she is trying to find more recruits, but found none, but me LOL, what is your opinion on this?
Hey Michelle! When you're partnering with someone in business, do you want to partner with someone that is really experienced, or has no experience at all? I would choose someone who has experience. I would try to delicately say no if you're not interested.
Not being friendly in 2021 isn't an excuse anymore you do it anyways. A better question is even though it's cliché, is would you rather be tired and financially independent, or sleep a lot and live complacent?
Edit: but on the topic of your friend, you both should follow a leader you would like to emulate in the business, if you want go far, go alone, if you want to go fast, go together. If you want to go far and fast, go alone, together.
Is the insurance they do safe and reclaimable, and does their rrsp and tfsa accounts pay good?
it depends on what you invest in
What are the other companies or products you would recommend instead as you stated that there are better places to work for?
I recommend learning about investments on your own, then buying ETFs or stocks with a discount broker for a low cost way to invest. For life insurance, term insurance is good for most people's needs, there's no need to lock into those expensive universal life policies that WFG agents tend to push.
@@WealthAwesome what about primerica?
His reply is a very Primerica response.
Which financial organization do you recommend to train and hire a LLQP licensee?
I did mine through CSI and had no problem with it!
Would you say Primerica is the same thing?
Yes it is very similar, It has a similar business model - Multi Level Marketing (MLM)