The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. Its main product is mortgage protection life insurance, designed to reduce or eliminate the threat of foreclosure or eviction if the insured passes unexpectedly. Think carefully about whether this role is right for you. Without an Earning Disclosure Statement, it is not possible to perform due diligence. Thanks for this article. Indexed universal life insurance (IUL) is an insurance product that seems to promise you can have your cake and eat it, too. /F1 17 0 R NATIONAL LIFE GROUP INSURANCE CO., a Texas Corporation, AJWPRODUCTION, LLC, a California Limited Liabilit Company, and DOES 1-10, Defendants. Our role as a combined voice for all councils is incredibly important in shining a light on key issues of policy, funding and legislation and how these impact at a local level. Every page of the PFA website attempts to make you feel greedy for the pig in a poke they are selling. It can take months and considerable expense to get a license to sell life insurance. I would love to buy Living Life by Design but due to my health I cannot qualify. Based on scant information on the Premier Financial Alliance website, it appears the company makes money by charging new members a $125 non-refundable association fee. It targets the senior market, typically people age 60 and older who are near retirement. Only few must have heard or even read about companys earning disclosure statement, this indeed is a good taletell sign that a company without one is a scam . [18][19]In preparation for Aegon's acquisition in 2001, "World Marketing Alliance 'ramped up' compliance before the acquisition". She worked hard for it and she was mentored by a very successful PFA coach. How can an insurance company give you most of the upside of investing in stocks while eliminating the downside? Term insurance is very inexpensive: less than $350 per year for a $1 million, 30-year level term policy bought on a healthy 30-year-old. BehindMLMreviewed Premier Financial Alliancein 2016. Premier Financial Alliance affiliates receive a commission when they recruit a new affiliate. Of course, when you have such large numbers of people out there in the field, it is quite an effort. SFG specializes in several life insurance markets, primarily the mortgage protection insurance market. Millions of Americans provide care to loved ones who are aging or have special needs, many of whom have nowhere to turn for support and caregiver relief. Your this comprehensive review will help people to become aware. Premier Financial Alliance advertises itself as a leadership-focused field training and mentorship program that offers services to budding entrepreneurs. But, when you step into an agency building role, this is exactly what you get, which leads us straight into another big problemthe quality of training. /Parent 9 0 R We are a councillor-led, cross-party organisation that celebrates and champions the contribution of councils to quality of life and opportunity in Scotland. I hope you enjoyed my article on Premier Financial Alliance. 15 0 obj 100, As a whole, the salesmanship of most agents (even those above you) tends to be poor. Judging from the website, it doesnt look like potential associates would even have a clue as to what they would be selling. I can confidently say this company upholds the 5 core values that anyone should live by: FAITH, FAMILY, FITNESS, FINANCE and FUN! Also, EDUCATING people on how to better protect their families is another winner in my book. Regardless of where you are in life, there is probably a lot going on. However, we do know that the plaintiffs lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. Since the emphasis is on recruitment, actual sales skills end up taking a back seat. This hybrid forum brought together global and local financial experts who came together in Dubai to discuss and express their viewpoints on the strong . 2 0 obj While guarantees are always nice, you dont want to overpay for them. Premier Financial Alliance Investment & Asset Management Salaries National Life Group has 450 more total submitted salaries than Premier Financial Alliance. She is highly intelligent, great at the follow up, a strong negotiator, and you'll really feel her desire to win for you! In addition to covering that, today we're also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. % So, I will shear it on my web link. National Comprehensive Cancer Network updates annual conference with new in-person venue, hybrid format, expert-led sessions, highlighted research perspectives, and small-group conversations . The plaintiffs also claim that the cost of the insurance is so expensive it cannot compete as a retail product and only members of PFA purchase it as a requirement to qualify for commissions and overrides. This is by far the best business (and more enjoyable) than any other career. I consider them to be one of the scam sites in the world. Family First Life Top Pick A Note On MLMs And Insurance Insurance Network Marketing Companies Primerica World Financial Group Symmetry Financial Group Premier Financial Alliance PHP Agency 47.7. I encourage anyone who reads this to do your due diligence by talking to real people with real experiences or relationships with the company before casting your unpleasant judgement. You went right straight to the jugular and made claims of you OPINION. I dont know how people take delight in ripping off people of there hard earned money. The lack of an Earning Disclosure Statement is a huge red flag and all the reason we need to pass on the so-called opportunity. /Parent 8 0 R No MLM offers a legitimate opportunity, but with PFA the warning signs are all over the place. Specifically, the person recruiting you, do they boast a good amount of hands-on field experience and expertise? /Type /Pages Premier Financial Alliance peak revenue was $91.0M in 2021. (Is the World Financial Group a scam?). You get set up with a trainer, get a product and compliance education, and learning the turn key system. The results of that case are still undetermined. The wechat (a popular social networking platform), instagram,facebook, and twitter posts made during the class period boast of luxury vehicles, grandiose trips, expensive fine dining. Unfortunately, if you dont listen and read carefully, youll misunderstand how the policy works and assume youre going to get stock market-like returns on your cash value or, worse, on your premiums, not all of which goes to the cash value account due to the costs of insurance. Freedom Equity Group focuses on selling life insurance and annuities. PS. World Financial Group - Be Careful of this MLM! What does that mean?? >> Too many new insurance agents fail within their first year that its imperative we get these things right the first time (as best we can). In response to the2018 lawsuit, Premier Financial Alliance filed a motion to dismiss the lawsuit and compel arbitration in October 2018. /Parent 8 0 R with complete knowledge that the Defendants have violated Department of Insurance Guidelines and the anti-pyramid laws, but aided and abetted the conduct of Nationals co-defendants. If that cap wasnt in place, an IUL purchaser in 1999 would have had 69% more money than he really ended up with. Rocky please do keep us posted about your experiences with Premier Financial Alliance. This is a flat out lie. << 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! The company is focused on providing healthcare solutions to individuals and families, as well as self-employed and small business owners. << Thats where National Life Group can help. American Income Lifes core markets are labor unions, credit unions, and associations for insurance solicitation. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. endobj To that end, he said, the bank is dedicated to probing the mysteries of climate control. Strong Vision with an easy to follow plan. They state that "WFG associates are not required to purchase any products, goods, services, inventory, marketing plan or property of any kind, or pay any consideration in exchange for becoming or remaining an independent contractor of WFG." The court will determine if Premier Financial Alliance is a pyramid scheme. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. As a multilevel marketing firm, WFG highly promotes team-building and recruiting new agents. The fundamental flaw is that there is no end benefit; the money simply travels up the chain, and only the originator (or at best a very few) wins in swindling his followers. Each state has specific fees and requirements for a life insurance license. It is the world's largest regional organization in terms of geographic scope and population, covering approximately 60% of the area of Eurasia, 40% of the world population, and more than 30% of global GDP.. American Income Life, a wholly owned subsidiary of Globe Life Insurance, is a major provider of supplemental life insurance. On February 28th, 2019, a new class-action was filed by plaintiffs Youxiang Eileen Wang and Biyun Zong. New Premier Financial Alliance suit claims Asian immigrants targeted Jul.06, 2019 in companies A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Give the amount of investment it takes to start a business compared to the cost of paying the $125 entry fee and costs for training I dont understand how this should be an issue. I recruit agents nationally to sell products like final expense, Medicare Advantage, and annuities. Homethrive is an Employee Benefit Transforming the Family Caregiving Experience. I have no downline and I am still making money. Each year, this announced rate is multiplied by your cash value and the product is added to your cash value. 2. Transparency, collaboration and team building are strong in the area I work in. If not for the work of Dr. Jon Taylor, I may never have seen the light. endobj 1. I know the WSB office usually offer it. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] << I was told to get five dowlines and it goes on and on . We know from the notice at the bottom of the PFA questionnaire page that a member must pay a $125 non-refundable fee. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. It focuses on term insurance, index universal life insurance, and fixed indexed annuities. >> Would you like to learn more? This allegation is significant because a telltale sign of a pyramid scheme is lack of retail sales to the public. I just started selling after I was trained (for free) on the PFA system. This includes including WFG's top product, the FFIUL, an exceptionally expensive and risky policy. Its mentorship and field training programs, as well as its numerous business tools, give new entrepreneurs access to products and services that help them build their dream business. IULs have many moving parts. >> /ITXT (2.1.7) Questions must be sent no later than 1 June . Hope this helps. It was chartered in 1848 by the vermont general . Premier Financial Alliance 5. So if an index mutual fund goes up 10% (including a 2% dividend), an IUL may only credit you 8%. /Metadata 6 0 R I have a small team of mostly nurses but bulk of my income comes from my personal production. Lan Zhang appears to be a top Premier Financial Alliance affiliate. TC84457(0415)P Now I have confirmed their illegitimate deals through your article. In April 2010, WGS was fined in excess of $850,000 as the result of the unauthorized sale of private securities by some of its agents in the State of Arizona. >> You are so right about MLM. /F2 18 0 R Blind Tiger Press 1304 Sunset Blvd Suite # 1290 West Columbia, SC 29169. Without it, we cannot perform proper due diligence on the business opportunity. /Filter /FlateDecode /Type /Page I believe that many people will find the real truth about this company. Rockville Maryland *Consumer Comment: Multi-Level-Marketing Independent Agency Alliance (IAA) Scam The company structure is not a traditional one thats why I understand people jump to conclusion and called it SCAM or PYRAMID. That amount is utilized to maintain our individual agent portal. This is a great product review with lots of important information about the premier financial alliance. /Type /Catalog You can go here to learn more about how my agency works. The caveat is, is that you have to make money to pay it. Our focus is to make sure that you get the information you need to help you protect your business and family. It hassle you day and night with emails and text messages and demand long virtual meetings weekly. >> Yes, absolutely WFG is a scam. This shortcoming is only one of several signs that Premier Financial Alliance is not honest or transparent. If your students have a question that they would like to ask, you will have the opportunity to record it and send it in for Randa Abdel-Fattah to answer on the day. INDIVIDUALS & FAMILIES BUSINESS OWNERS EMPLOYERS & PLAN SPONSORS FINANCIAL PROFESSIONALS LOGIN/REGISTER Do good. I work in the healthcare business. The amount of training she received and the hand-holding mentorship my best friend received and is receiving is immense. /Tabs /W endobj Both are multilevel marketing firm (MLM) companies. You may have noticed that the best products in life generally sell themselves. The Direct Sellers Association attempts to regulate direct selling companies and multi-level marketing companies. Just please be careful and on your guard if you go. This means that improving your earning capability with these agencies is undeniably tied to recruitment (aka builder a bigger company). Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup. The telemarketers can tell you anything to get your money and they often do. PFA indeed have skeletons in their cupboard and if victims have read articles like your one would have taken great care to know which company is real or not. Premier Financial Alliance makes $249,315 in a day. voyage financial group inc. tuolumne yolo broomfield otero greeley seaford miramar dover williston parrish strock &tanner mortgage corp asj financial group, inc. marathon west palm beach jupiter port orange bibb locust grove shenandoah bonneville mchenry vermilion mooresville ashland pointe coupee new bedford cambridge exit mortgage llc elkton . If you do, the first step is to give them $125 you will never get back. xS0+H8nA ^+"q@V=, Chen et al v. Premier Financial Alliance, Inc. et al - 4:18cv3771. That appears to be happening with PFA. I contacted them repeatedly (as an associate! This site is owned and operated by Blind Tiger Press, LLC and participates in various affiliate programs including Amazon, Clickbank and Wealthy Affiliate, and may be compensated for referring traffic to these companies. This aggressive side of Marquez is loved and appreciated by . Perhaps this is why there is so little information on the Premier Financial Alliance website. That process can take days or weeks depending on the information received.Lastly, your agent will contact you and go over the results of your underwriting and details of your policy. /Count 8 /Names 4 0 R /Count 8 Other financial products from Premier Financial Alliance include term life insurance, whole life, and universal life, and annuities. If PFA protected territories, I would expect it to mention the fact. Kosmos announced today its financial and operating results for the fourth quarter of 2022. ", "I highly recommend Libby! Any time a company tries to make you feel greedy for their opportunity but hides the details, its suspicious. OH! 9 0 obj Companies that are members of DSA agree to a code of ethics and to resolve complaints registered with DSA. Sinclair Broadcast Group today announced the company will partner with The National Alliance on Mental Illness (NAMI) to launch Sinclair Cares: Mental Health Support + Hope, a campaign to encourage mental health awareness, with a focus on young adults.The campaign will begin on March 6 and run throughout the month. Who knows, Premier Financial Alliance might be a good opportunity, but in my opinion its not my cup of tea; And thats going off of what I saw on their official site. If you pursue the PFA business opportunity, you will be going in blind. Even for a petty $125. Unfortunately, as with most things in life, there are no free lunches. It is headquartered in Johns Creek, Georgia, and operates both in the US, Puerto Rico, and Canada. Ft. 32644 Rome Hill Rd, Lake Elsinore, CA 92530. I KNOW WHAT TYPE OF LIFE INSURANCE I WANT, HOW DO I BUY IT? Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. Generally speaking, people dont make money here by selling legitimate products. NASD also found that the firm failed to establish and maintain a supervisory system reasonably designed to assure compliance with the Regulatory Element of the Continuing Education Requirement by its registered representatives.". Hopefully, the lawsuit that alleges they are a pyramid scheme will alert the Federal Trade Commission and shut them down. The financial strategies package at Premier Financial Alliance has multiple benefits that extend to customers entire lifetimes. If you want more information about PFA than the website provides you must fill out a lengthy questionnaire and include the member number of the PFA associate who would be your sponsor. Premiere Financial Alliance (PFA) sell for National Life Group which doesn't have a good reputation in the Insurance Industry plus Premiere Financial Alliance (PFA) only push one product and one product only from National Life Group which is an (IUL) Indexed Universal Life Insurance Product and Premiere Financial Alliance (PFA) does not represent /Parent 3 0 R After paying the $125 non-refundable fee AND getting a license to sell life insurance, PFA members can recruit others into the scheme. Dennis Villarin of Winnipeg, MB, a former agent who opened and trained others to open the above accounts, was stripped of his licensing and charged by the MFDA. Without a thorough analysis of the opportunity, it would be foolish to get involved with Premier Financial Alliance. - *Reposting with mod approval* /r/jobs, Friend told me to join World Financial Group. You have probably heard that the stock market returns 10% in the long run. While this figure is approximately trueat least on a nominal (non-inflation-adjusted) basisit includes the stock dividends, not just the change in the index value. Any time the S&P 500 index returned more than 12%, you just get 12%. Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. endstream 8 0 obj If youd like to learn more about how Ive helped insurance agents become top producers selling final expense and Medicare both over the phone and face-to-face, theres more information on my FAQ page. . 3 Beds. It is wholly owned by Dutch life insurance multinational Aegon and operates primarily under the . She is an inspiration to many! At the end of the day , if you are curious , find out about it yourself , worst come to worst you spend $100 and you get financial education. There are many reasons you may want to quit Premier Financial Alliance, for example, you ran out of money to invest in leads, you ran out of prospects to sell to, or you simply found that the business of selling insurance wasnt a good fit for you. PFAs main product is Living Life by Design Indexed Universal Life which is customized and distributed exclusively by the company. Primerica 2. If youre stuck and bitter about paying $125 then you gotta move on and do something else. If Premier Financial Alliance is indeed an MLM company full of affiliates earning commissions based on how much their recruited downlines are spending each month thats a problem. endobj 1,440 Sq. Then, once youre a member and duly licensed, you recruit people into the scheme who also pay the $125 fee to the company. Pyramid schemes are structured to funnel money from the bottom of the organization to the top. /Parent 3 0 R On May 6th an initial case management conference for both cases was held.
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