", "Libby leads by example. She has a commanding knowledge on", "Libby is the kind of business person you want to work with. You get set up with a trainer, get a product and compliance education, and learning the turn key system. How does Premier Financial Alliance work? Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. << Perhaps this is why there is so little information on the Premier Financial Alliance website. >> Every page of the PFA website attempts to make you feel greedy for the pig in a poke they are selling. All salaries and reviews are posted by employees working at National Life Group vs. Premier Financial Alliance. It offers premium life insurance, long-term care insurance, retirement income insurance, and investment plans, including annuities, mutual funds, and ETF saving plans. WFG Securities (Canada) was under investigation by the Manitoba Securities Commission in 2008, after some investors say they ended up in financial situations they did not understand regarding leveraged accounts. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. /Kids [11 0 R 12 0 R 13 0 R 14 0 R] I work in the healthcare business. And most quit the business prematurely. Girard Sharp law firm filed the lawsuit. 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. Arnold & Porter > Newark, United States > Firm Profile. Thanks for sharing this with us. PFA collects $125 non refundable after filling lot of questionnaires and at the end all is a scam. Once you reach this point, you generally no longer have a need for life insurance. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. Wang and Zong, both New Jersey residents, claim Premier Financial Alliance is a pyramid scheme they were lured into. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. National Life Group Insurance Company is a Texas company responsible for "pandering" the defendants' insurance products to those who participate in the scheme. Without buying a new policy, they will not train you. 11 0 obj I am astonished to see how they can easily deceive themselves by keeping themselves concealed. In response to the2018 lawsuit, Premier Financial Alliance filed a motion to dismiss the lawsuit and compel arbitration in October 2018. A more recent docket listing may be available from PACER . Over the phone, a Premier Financial Alliance representative can promise you anything to get you to pay the non-refundable fee. Phone conversations are not regulated, so unless you record the conversation, you have no way of proving you were intentionally mislead. Blackstone said redemption requests at its closely followed $71bn property fund declined in February in a potential sign pressure from investors seeking an exit and concerns around the long-term . I would love to buy Living Life by Design but due to my health I cannot qualify. Be good. However, we do know that the plaintiffs lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. We are a councillor-led, cross-party organisation that celebrates and champions the contribution of councils to quality of life and opportunity in Scotland. When you join PFA, you pay a $125 fee to the company. Also, EDUCATING people on how to better protect their families is another winner in my book. So many negative people (like you ) who like to put people down just because they are a HATER. 2023 Copyright Blind Tiger Press, All Rights Reserved. I've owned franchises, restaurants, held my real estate license in 2 states and worked in corporate sales. 2020, Premier Financial Alliance, Inc. All rights reserved 1. We recommend you review our Free Agent Resource Guide here for tips on finding a quality insurance agency to join. SOLD FEB 8, 2023. When you join Pfa you will get the training you need to be your own boss. 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. In other words, you must enter the recruiting process. The reason it is so inexpensive is that people are unlikely to die before 60. 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 Happiest Place on Earth. I will come back to your article and prove you wrong. If a highly-trained sales force is the only way to sell something, buyers should probably wonder why. PFA offered my best friend a goldmine and wealth of information that are fascinating. 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. Municipalities are indebted to Eskom in an amount of approximately R57 billion which has further limited Eskom's budget for maintenance and generation. whether Defendants are operating an endless chain; whether Defendants omitted to inform the Plaintiff and the plaintiff class that they were entering into an illegal scheme where an overwhelming number of participants lose money; whether PFAs statements of income during the Class Period were deceptive and misleading; whether PFAs conduct constitutes an unlawful, unfair and/or deceptive trade practice under California state law; whether PFAs conduct constitutes unfair competition under California state law; whether PFAs conduct constitutes false advertising under California state law and; whether the Defendants violated the Department of Insurance Guidelines in representing the benefits under a policy and/or underwriting. /MediaBox [0 0 612 792] Living Beneits Advocate (Current Employee) - Remote - September 30, 2022 A specific example cited in the lawsuit is a representation allegedly made by PFA, by which. I consider them to be one of the scam sites in the world. ? Gary the flaw in your article is you failed to interview the very successful NURSES and medical professionals (these are ethical people who save lives) that are involved in PFA. Sounds like that exactly whats going on. When considering any investment or so-called opportunity, it is essential that you perform proper due diligence. For example: this evening we just learned about how business owners like me can better offer benefits and reward financial benefits to our employees thru IRS tax credits. 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. endobj /Names 4 0 R >> The data on this page is also based on data sources collected from public and open data sources on the Internet and other locations, as well as proprietary data we licensed from other companies. The odds are you will lose. BUSINESS OWNERS Then it asks for your Referring Associate PFA ID. This requirement suggests that recruiting is central to the PFA business opportunity. She is very respectable in the community she lives in, ethical and trustworthy. [17]It is yet unclear how successfully the company has managed to distance itself from its more controversial U.S.-based predecessor WMA, associated with fraud, misrepresentation and false statements, and the subject of class action lawsuits, andNational Association of Securities Dealers(NASD) disciplinary action. Those who sell these commissioned products are highly trained, but not in finance. Making substantial money can be achieved just by selling. /Parent 3 0 R The company have a system to do that. 2. Its main product is indexed universal life insurance, a form of permanent coverage that provides a cash value in addition to life insurance. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. World Financial Group - Be Careful of this MLM! 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. Some top agents can do it. To achieve this, they create a commission structure that rewards the founder of the scheme and a few members at the topmost ranks who joined the scheme early. It is wholly owned by Dutch life insurance multinational Aegon and operates primarily under the . American Income Lifes core markets are labor unions, credit unions, and associations for insurance solicitation. This includes including WFG's top product, the FFIUL, an exceptionally expensive and risky policy. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. /Count 1 The good news is, quitting Premier Financial Alliance is easy. If you found this article helpful or if you have experience or insight into Premier Financial Alliance, please leave a comment below. - *Reposting with mod approval* /r/jobs, Friend told me to join World Financial Group. Having operated for some thirty years, as a result of PFAs business model the lawsuit alleges. That appears to be happening with PFA. She is highly intelligent, great at the follow up, a strong negotiator, and you'll really feel her desire to win for you! Specifically, the person recruiting you, do they boast a good amount of hands-on field experience and expertise? Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. Can they successfully sell insurance? Pyramid schemes are structured to funnel money from the bottom of the organization to the top. With a multi-level marketing-style mass recruitment model, the overall quality of training in the insurance business goes down the drain. I just hope people wont fall victim for all this fake MLM site. 7 0 obj To those who would totally believe that PFA is a scam. 5 0 obj 15 0 obj /AA 5 0 R Below, my goal is to highlight a few key factors for you to consider before you join any organization, whether Premier Financial Alliance, World Financial Group, or another agency. I suspect if you did fill out the PFA questionnaire, you would soon get a phone call from a rep who tries to talk you into paying the non-refundable fee. /Parent 8 0 R 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. The employee data is based on information from people who have self-reported their past or current employments at Premier Financial Alliance. Hence, this is not a scam. << Too often people become so mesmerized by the dream an MLM is selling that they will not listen to friends or family who try to warn them. endobj 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). [18][19]In preparation for Aegon's acquisition in 2001, "World Marketing Alliance 'ramped up' compliance before the acquisition". And if you want to recruit people and create your own team , you can do that. Transparency, collaboration and team building are strong in the area I work in. Would you like to learn more? In performing due diligence on an MLM company, DSA is a good place to start. I can confidently say this company upholds the 5 core values that anyone should live by: FAITH, FAMILY, FITNESS, FINANCE and FUN! Welcome to Premier Financial Alliance Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. This process of using their dedicated database to sell the job to other agents before selling company insurance is why some career associates have claimed that PFA is a pyramid scheme. ; Newark, United States & gt ; Firm Profile business opportunity is on... Hope people wont fall victim for all this fake MLM site October 2018 my! 2,500,000 can be made by an Associate & amp ; Porter & gt Newark... When considering any investment or so-called opportunity, it is essential that perform! Longer have a need for life insurance councils to quality of training in the community she in. To my health i can not qualify ( like you ) who like to put down... 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