Is World Financial Group A Scam?
World Financial Group Scam Review- Is World Financial Group A Scam Or Legit?
Product: World Financial Group
Owners: Hubert Humphrey & Joe DiPaola
Overall Rating: 6 Out Of 10
Verdict: Legit, But the market is Quite Tough.
Might you have been persuaded by a friend or family to join World Financial Group? Or you might have seen their various banners from the internet or social Media that promise a lot of goodies once you join them.
I can bet you are here to confirm if the company is legit or another rip-off out there. Yes, it’s a wise choice to know more about the company you plan to join or partner with.
The best part is that we are going to show you all the company is about, their various products and compensation plans for you to know if it’s a company to give a try or not.
The various information about the company below should be able to clear all your doubts about them.
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What Is World Financial Group All About?
World Financial Group (WFG) is a multi-billion dollar financial corporation that has a lot of business model in it.
They are situated in Johns Creek, Georgia which in Atlanta. They are now operating around Puerto Rico, the United States and Canada.
The company initially kicks off as World Marketing Alliance (WMA) back in 1991 by the founder Hubert Humphrey.
At the time of this review, they are also happened to be listed with the Better Business Bureau and have the highest rating possible, an A+. BBB ranks companies on F to A+ scale, WFG’s rank is an excellent rating. Receiving an A+ from the Better Business Bureau is a sign of a very trustworthy company.
They are basically the combination of a financial business and Network Marketing. The company supports huge networks of distributors and recruits people.
Here’s a Quick Video on WFG
They are similar to other Multi-level marketing companies such as:
They are involved in a quite number of financial institutes and various products which are: They include:
- Financial Needs Analysis
- Variable Universal Life Insurance
- Investment Advisory Services
- Life Insurance
- Mutual Funds
- Business Solutions
- College/Post-Secondary Education Funding
What Will You Be Doing Once You Join?
First, you will want to sign up with them and pay the buy-in fee to receive your startup kit. So World Financial Group will turn you into its customer.
That’s why a lot of people consider WFG a pyramid scheme. On the surface, it is hard to tell the difference between a legitimate MLM and a pyramid scheme since both built on recruiting business model.
A legitimate MLM is focused on selling products and services, not recruiting more salespeople. If you are just starting out in the network marketing, you will want to make sure that the products being sold have real value at the competitive price. So you will make real money.
In the case of WFG, I see the products are of high quality. I learned many things about financial stuff when I was with them. However, I didn’t like their sales rep aggressive recruiting practice.
I brought in new members but it was quite hard to retain them because my upline was quite aggressive. They claim that when you bring people into the business, you will earn point or commission on them. However, it wasn’t as easy they said.
If you want to succeed with them, you do not only have to bring others on board, but you also have to focus on selling the company’s products.
This signifies that they employ new associates to sell their financial products and recruiting other people to join the company in the process.
Here’s a Short Video on the Complan
See The Details of their Complan Below.
This compensation plan promises representative by telling them they will gain by the sales of their products and services and also the people under them.
Yes, you may earn from your downline (people below you) but a large part of such earning still goes to your upline (people who refer you).
So, your commission that the representative gets from their various sales with World Financial Group is a lot less than what they will earn if they get to sell such products or services on their own.
As a newbie, you have to be wary of upline who tries to sell you the various services by flaunting their personal wealth. Most of the time, this is farther from the truth.
What I Like About World Financial Group
- Financial Education- They actually invest in financial education which is a very good thing because schools never teach that.
- The commissions are paid out twice a week for U.S and Canada associates, but one per week for associates in Puerto Rico.
- You will get various training tools and supports.
- You have a variety of programs to choose from to promote.
- You will get a lot of incentives and free trips around the world.
What I Don’t Like About World Financial Group
- Encouraging their representative to sell to their loved ones.
- They always say you don’t have a financial education even if you have.
- The true nature of the business model is mostly concealed from you most of the times.
- More of the commission you get, go to your agent.
- A lot of people are brought into the business and just focus on recruiting.
- It involves a lot of sales and recruiting tactics which requires heavy sales and recruiting practices.
- Some training on how these financial concepts work in few and far between.
- You must find someone who knows all these financial concepts and it probably is not your marketing director.
- Their insurance policies are too complex for most of the clients and for most agents to explain.
- No income disclosure is giving for what you will earn when you join.
Who is World Financial Made For?
This is for anyone that is willing to learn a lot of financial stuff and can do well with multi-level marketing.
There is a ton of financial concepts to read, so if you join, you’ll have plenty to keep up busy. Beginners are definitely from these financial stuff.
You will be making money from selling their financial services as well as recruiting others.
Keep in mind that the success rate of any sorts of MLM programs has historically been very low because it typically takes 2- 4 years to reach any type of decent monthly income.
You will need 5000-10,000 reps in your downline to produce sufficient group monthly volume to achieve a 5 figures monthly income.
Guess what? There is no quick way to add 5000 people to your downline. You need to rely on team duplication within your downline and that takes time to build.
For complete newbies with very little people skills, I recommend you to check out My Top Work-at-Home program here. It is one stop for everything about making money from home.
Training Tools And Supports
World Financial Group offers various kind of training tools support and a variety of video tutorial about financial education.
However, most of the time you will get trained and mentored by your upline. You will receive regular conference calls and webinars from top WFG field leaders.
If you qualify for their Leadership Network, you will be invited on an exclusive trip to New York City where you get to spend one-on-one time with some of the company’s best leaders.
What Is The Cost Of Joining World Financial Group?
The entry fee is about $100. It may cost between $500 to $1000 for their products and services to be licensed to you.
You will have to go through their registration process and take a various examination to get started with them. If you can afford that, why not give it a try it.
Others fees are the life licensed which is $30 and investment adviser which cost about $125.
Final Thought: Is World Financial Group A Scam?
World Financial Groups isn’t a scam, in fact, you actually get a lot of value from their financial concepts and services. Overall, I was surprised by the quality of their system and would recommend it for a good ground in financial education.
However, I don’t quite agree with they say one of their goals is spreading financial intelligence to people who need.
The issue is that World Financial Group Representatives take advantage of this to make money which is opposite to what they claim they will give you.
Due to this tactic, a good number of people brought on board have termed World Financial Group a Scam. But this company is involved in brokers of all sort of good products, so in a sense, they are not a scam.
World Financial Group in my own opinion is a recruiting scam. Many people are brought in under various false promises. Because the actual fact about the business won’t be revealed to you until you are a representative.
Their compensation plan is very exploitative to every new associate. If I were you I will avoid the World Financial Group like a plague.
I had been involved in the Multilevel Marketing Business (World Financial Group include ) both in the U.S and abroad for about 10 years.
I used to think that MLM was the only way for me to get out of the rat rack until I found an actual way for me to create my own.
A couple years ago, I gave up the Direct Marketing and joined a training platform where they offer step by step training that teaches you how to set up your own business.
Ideal for newbies. You can join for free and often within a few days, you will have your own website and will have probably learned more than is possible with World Financial Group.
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Have you had any experience with World Financial Group? Or want to offer insight about WFG from your experience, leave a message below and I love to hear about it.
Thanks for reading.
All the best!