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
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 Medias 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 little information about the company below should be able to clear all your doubts about them.
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What Is World Financial Group?
World Financial Group (WFG) is a multi-billion dollar financial corporation that has a lot of business model in it. They include-
They are involved in a quite number of financial institutes and various products which are:
- Financial Needs Analysis
- Variable Universal Life Insurance
- Investment Advisory Services
- Life Insurance
- Mutual Funds
- Business Solutions
- College/Post-Secondary Education Funding
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.
They are basically the combination of a financial business and Network Marketing.
This signifies that they employ new associates to sell their financial products and recruiting other people to join the company in the process.
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.
World Financial Group Business And Compensation Plan
They claim that when you bring people into the business, you will earn point or commission on them.
See The Screenshot Below.
This compensation plan promise 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.
What I Like About World Financial Group
- Financial Education- They actually invest into 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.
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.
Final Thought: Is World Financial Group A Scam?
World Financial Group says 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 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!