Is it a scam? "We've had the opportunity to visit shelters, we've had the opportunity to meet with NGOs on the ground who are providing assistance, we are meeting with individuals who are operating in Ukraine . Premier Financial Alliance has done nothing to prove they are trustworthy and everything to prove they are not. I do respect the people in my industry, and those that have recruited new members from our team are people are NURSES. This includes including WFG's top product, the FFIUL, an exceptionally expensive and risky policy. /Resources << Yes, this is a classic MLM pyramid scheme. She is", "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. A member can earn a respectable income with only selling the products of a legitimate direct selling company and never have to recruit. 2020, Premier Financial Alliance, Inc. All rights reserved 1. I KNOW WHAT TYPE OF LIFE INSURANCE I WANT, HOW DO I BUY IT? Intern 20 Salaries $17 / hr total Director 13 Salaries $118,766 / yr total Case Manager 12 Salaries $48,960 / yr total IRC 1 Salaries $1,502 / mo total Qualified Field Director 4 Salaries Companies that are members of DSA agree to a code of ethics and to resolve complaints registered with DSA. Marketing Leadership specialist 20 years experience delivering revenue & business growth, Customer Experience (CRX) across multi-channel retail, online and Digital. If you pursue the PFA business opportunity, you will be going in blind. Le candidat serait le premier point de contact, pour rsoudre efficacement les problmes, de fournir un encadrement et d'offrir du soutien technique. While it may have the word index in its title, an IUL has much in common with whole life insurance and almost nothing in common with a high-quality index mutual fund. I dont know how people take delight in ripping off people of there hard earned money. World Financial Group (WFG) is a multi-level marketing financial and insurance services company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. Even if you only go back 15 years to 1999, during this supposedly terrible period for equities, it has happened 7 times. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. I just started selling after I was trained (for free) on the PFA system. When it goes up, you get to participate in that increased return. 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 . I only had to pay the $125 non-refundable fee and I paid expenses for my insurance licensing like everyone else. 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. PFA offered my best friend a goldmine and wealth of information that are fascinating. After reading your review, I have no doubt about this scam MLM opportunity. USHEALTH offers individual health coverage plans and a number of related supplementary products. An honest Earning Disclosure Statement shows the percentage of MLM members that are earning commissions, how much they are earning and the probability of success. Thats all the reason you need to avoid PFA. After reading this great review, we got to know about their activities. Sorry to hear you lost money to Premier Financial Alliance. << Please reach out if I can help. >> This too comes out of commissions but you have the option to pay upfront for 30.00 a mon. If youre stuck and bitter about paying $125 then you gotta move on and do something else. /Kids [15 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. With IUL, the crediting rate for your cash value is determined by a formula, instead of being at the insurance companys discretion. She is an inspiration to many! In fact, if youre interested in learning more about the industry, you can check out my Free Insurance Agent Resource Guide, specifically for aspiring agents. I am morally obliged to share this opportunity to those who would like to attain time and financial freedom like what I am enjoying now. Kosmos announced today its financial and operating results for the fourth quarter of 2022. << Every page of the PFA website attempts to make you feel greedy for the pig in a poke they are selling. The telemarketers can tell you anything to get your money and they often do. The company also offers final expense insurance, a type of whole life insurance designed to cover medical bills and funeral expenses after the policyholders passing. The caveat is, is that you have to make money to pay it. That appears to be the case with Premier Financial Alliance, but there is no evidence on their website confirming this assumption. Thats where National Life Group can help. On November 28th defendants A JW Production, LLC, Bill Hong, The Consortium Group, LLC, Jack Wu, Rex Wu, and Lan Zhang, filed their own motion requesting the same. That means that if a client doesnt pay their premiums they will take the commission back! I contacted them repeatedly (as an associate! Again, because Premier Financial is so secretive and evasive, we cannot determine how much a member earns when she makes a sale or how much her upline earns. PFA collects $125 non refundable after filling lot of questionnaires and at the end all is a scam. PFA agents or the PFA don't make money on $125 fee. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] So how can IULs offer market returns while still guaranteeing you wont lose money, at least on a nominal basis? The company has been around since 1991 and its highly regulated by Finra. I hope this article has helped you decide which organization is best for you, whether thats Premier Financial Alliance, the World Financial Group, or any other agency. You can just be a producer, period. Good luck and thanks for reading. I wish you had been more fair in your one-sided article. If someone wants to be an employee the of course the business owner would pay the expenses and give compensation to the employee. Please read the links below, using your common sense to assess the quality of the reviews and comments you read. 1 0 obj /Type /Catalog However, we do know that the plaintiff's lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. Im sorry to hear that you lost funds, but how much did you lose? A 2016 video cites Zhang as a Premier Financial Alliance President, and depicts her receiving a special birthday present from PFA founder and CEO, David Carroll. Now you know a little more about how Premier Financial Alliance and World Financial Group works, Id like to talk about my experience as an insurance agent since 2011 and as an insurance agency owner since 2014. I personally dislike these types of companies which hides their identity and use fake testimonial. John is one of three co-founders of Premier Financial Group, Inc and is the Senior Advisor to our Retirement Plan Department. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. IUL is similar to the more familiar whole life insurance policy in that it is composed of 2 basic pieces: First, a permanent insurance policy that will pay a death benefit whether you die young or old; and, second, a cash value account from which you can borrow money tax-free (but not interest-free) in order to pay for expensive items, educational expenses, or your retirement. Without a thorough analysis of the opportunity, it would be foolish to get involved with Premier Financial Alliance. The PFA lawsuit is still playing out. She is very respectable in the community she lives in, ethical and trustworthy. Because it involves talking to your friends, relatives and even searching online job boards to persuade people to join and sell insurance with you. The company is headquartered in Suwanee, Georgia. No marketing is done to retail customers. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Without it, we cannot perform proper due diligence on the business opportunity. And, the $125 entry fee is enough to choke on. A specific example cited in the lawsuit is a representation allegedly made by PFA, by which. This is an in- depth review I must confess. Menu Home; Rankings. Plaintiffs Gonzales and Chen are seeking to represent a class of similarly situated Premier Financial Alliance victims, of whom they estimate there are over 25,000. Clients will work alongside experienced PFA agents to build their strategies and plan for their future. $450,000 Last Sold Price. Premier Financial Alliance specializes in helping people become partners in a large business network in order to build their own financial services business. Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. The two Californian cases Premier Financial Alliance is currently defending are: a 2018 suit filed by Rui Chen and Wenjian Gonzales, alleging pyramid scheme fraud; and a 2019 suit filed by Youxiang Eileen Wang and Biyun Zong, alleging Premier Financial Alliance targeted Asian immigrants for fraud. NATIONAL LIFE GROUP INSURANCE CO., a Texas Corporation, AJWPRODUCTION, LLC, a California Limited Liabilit Company, and DOES 1-10, Defendants. I am glad the way youve exposed all the atrocities of these fraudulent companies by listing all the taletell signs. 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. Others cant. Most organizations that push a recruitment-focused strategy usually offer way below-average sales training and support. Premier Financial Alliance is designed to give clients control over their budding business by providing start-up capital to entrepreneurs regardless of prior experience or sparkling corporate resumes. I doubt it. Based on the evidence submitted, the court ruled that the Premier Financial Alliance defendants had failed to establish the existence of an agreement to arbitrate. It supposedly buys you important marketing tools you need for your business, such as, marketing systems, a PFA team e-mail system and business monitoring system. There are certain financial situations faced by your business and family that may not get your full attention. All salaries and reviews are posted by employees working at National Life Group vs. Premier Financial Alliance. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. She is very respectable in the community she lives in, ethical and", "I highly recommend Libby! Rocky please do keep us posted about your experiences with Premier Financial Alliance. What does that mean?? In this Premier Financial Alliance review, I take a close look at the companys claims of success. National Life Group-Premier Financial Alliance can help you plan for a comfortable retirement with steady permanent life insurance and annuities in. A pyramid scheme does just the opposite. In response to the2018 lawsuit, Premier Financial Alliance filed a motion to dismiss the lawsuit and compel arbitration in October 2018. Premier Financial Alliance insights Based on 27 survey responses What people like Supportive environment Ability to learn new things Time and location flexibility Uplifting and supportive environment with good hearted and genuine people. Also, the more complex the product, the fewer competitors it will have, and competition drives prices down. She is." Read more New agents end up feeling demoralized. /Type /Pages Transparency, collaboration and team building are strong in the area I work in. ), but they NEVER ONCE responded to any of my phone calls (endless phone system then hung up on me) or my emails or the contact form on their agent support website. New York Life, established in 1845, is the largest mutual life insurance company in the country. It offers premium life insurance, long-term care insurance, retirement income insurance, and investment plans, including annuities, mutual funds, and ETF saving plans. /Parent 8 0 R 2 Baths. Without an Earning Disclosure Statement, it is not possible to perform due diligence. PFA doesnt sell a product. USHEALTH Advisors is a wholly-owned national sales and distribution subsidiary of USHEALTH Group, one of the largest employers of health insurance agents in the United States. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. What matters, if you are considering the business opportunity, is whether you have a reasonable chance at success. @Financial Educator, former Finance at Wells Fargo (2001-2002). 9 0 obj Recommendations Given ( 7) Libby D Lum eXp Realty - Honolulu Highly Recommended "Libby is born and raised on Oahu has 18 years of experience as a realtor and broker. Once you become an associate with Premier Financial Alliance, you will have access to their database of clients, from which you will recruit six other agents in order to obtain the necessary license to sell PFA insurance. 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 ", "I highly recommend Libby! Defendants have failed to meet their burden to show, by undisputed material facts, that the parties entered into an agreement to arbitrate the claims here. In a whole life policy, the insurance company determines the dividend rate. It's working beautifully for me! The difference lies in how the cash value account grows. The company was founded in 1951 and is headquartered in Waco, Texas. Its insurance products include life insurance and supplemental health. I was paid commission on my first sale which more than paid for my outlay. Common Scams That Prey on Seniors and How to Prevent Them. ", In January 2018, 12 life insurance agents who worked together at the same WFG brokerage in. For more details on what I write, please go here: What is the World Financial Group? Symmetry Financial Group is an insurance marketing organization based out of Swannanoa, North Carolina. I have no downline and I am still making money. Since there is no evidence on the website that retail sales are even possible, I suspect that PFA is indeed dependent on recruiting, but ultimately, the answer to this question cannot be conclusively determined. 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. >> This means that agents will only receive money as a commission if they sell insurance, or if the associates they recruit under them sell any WFG products. 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