by Guest » Wed Jun 30, 2010 03:45 pm
Hi All,
Hope you can all help. I was approached by a good friend of mine a few months ago to talk about securing my financial future. He is an agent with WFG (World Financial Group). He tried pushing a Global Equity Indexed Universal Life on me and I hesitated being the very skeptical person that I am. After spending some time with him and some people in the company I had my reservations however for some unknown reason I decided to join WFG and paid my $100. I have since been trying to get my licenses and am enrolled in classes since I am the type of person that needs to know everything. I explained this to my Marketing Director and he stated that I need to hurry up and do my 3-3-30 (3 recruits, 3 sales, 30 days). How am I suppose to ask my family and friends to trust me with their financial future when I dont understand anything about insurance, policies, products. He is very insistant that I push forward and I am digging in my heels because ethically I can not and will not push someone to buy something I know very little about. He tells me that I need to trust the "system" and start duplicating myself. Thats all they seem interested in. Making more and more people and not really "helping families" I thought this would be a good opportunity to help people. I have seen what happens when people are left behind without any protection and the effects are horrible but I dont think that is the mission here. All they seem interested in is this EIUL which has high high premiums, high surrender rates, etc, etc. I really wanted to help people, not "drink the cool-aid" if you know what i mean.
Please share any thoughts and/or experiences with WFG or their products.
Thanks!
Hope you can all help. I was approached by a good friend of mine a few months ago to talk about securing my financial future. He is an agent with WFG (World Financial Group). He tried pushing a Global Equity Indexed Universal Life on me and I hesitated being the very skeptical person that I am. After spending some time with him and some people in the company I had my reservations however for some unknown reason I decided to join WFG and paid my $100. I have since been trying to get my licenses and am enrolled in classes since I am the type of person that needs to know everything. I explained this to my Marketing Director and he stated that I need to hurry up and do my 3-3-30 (3 recruits, 3 sales, 30 days). How am I suppose to ask my family and friends to trust me with their financial future when I dont understand anything about insurance, policies, products. He is very insistant that I push forward and I am digging in my heels because ethically I can not and will not push someone to buy something I know very little about. He tells me that I need to trust the "system" and start duplicating myself. Thats all they seem interested in. Making more and more people and not really "helping families" I thought this would be a good opportunity to help people. I have seen what happens when people are left behind without any protection and the effects are horrible but I dont think that is the mission here. All they seem interested in is this EIUL which has high high premiums, high surrender rates, etc, etc. I really wanted to help people, not "drink the cool-aid" if you know what i mean.
Please share any thoughts and/or experiences with WFG or their products.
Thanks!
Posted: Thu Jul 01, 2010 01:18 am Post Subject:
Why are you asking the question when you know the answer? You already know that your job is to be a product pusher who trusts the system. Go for it, but only if that is what you want to do. Otherwise, don't do it.
Posted: Thu Jul 01, 2010 02:19 am Post Subject:
I'm kind of skeptical here, but I'll assume this is sincere.
I don't know what kind of help you are looking for. The company is using a very pyramid like scheme to sell insurance products and increase their sales force. You need to replace yourself? Insurance isn't something you get into part time, and it's certainly not something you just join and then look for 3 people to recruit to what you do.
While there some truth behind a sales manager's suggesting that you can help your friends and family without understanding completely how these products work (in fact I've known a lot of very successful people who couldn't begin to have an in-depth conversation about the products they sell, they rely on experts either hired, or wholesalers to answer most questions), I'd be suspect of any company that has this sort of approach.
If you truly want to be in this industry, get away from this company and go find a reputable company to teach you this business. You know the big names, I don't really need to tell you them.
Posted: Thu Jul 01, 2010 05:42 am Post Subject:
Run away. Run far away.
Posted: Fri Jul 02, 2010 06:30 pm Post Subject:
You are right to be concerned. Your "Sales Manager" knows the simple truth is very few of the people they bring on will last any length of time...If they can get you to bring in 3 more people and make 3 sales in your first 30 days they know that once you leave those policies and recruits (if still around) will role up to them. Also in your post you mentioned you still don't have your license so obviously those "Sales" will not be made or paid to you as without a license you can't be compensated with a commission.
Posted: Fri Jul 09, 2010 05:37 am Post Subject:
You're fortunate that you have not yet brought any of your close friends or family members into the WFG circle. In many cases, it's more like a noose.
You have probably been told, as to your need for life insurance, "You can't be a hypocrite and try to sell someone something you don't own," as a way to "guilt" you into applying for one of their policies.
The only reason you were marketed an EIUL policy is that the representative either does not qualify for, cannot afford, or cannot pass, the Series 6 securities exam and/or the Series 63 or 66. Those in WFG who have the status of registered representative almost exclusively market their VUL products instead.
You can choose to stay or choose to flee, but as long as you remain at WFG prior to being licensed, you will be pressed to do your "training appointments" so your upline can collect their commissions. If anyone has mentioned holding commissions for you until you're licensed, they're talking about making you a criminal. They already are.
I thought this would be a good opportunity to help people.
The broader insurance/financial services industry does exactly that. We seek to put the best product into our clients hands at the best price. With your license, you can do that, regardless of whether you are a WFG rep or not. It will be harder from within WFG because of the heavily emphasized "recruiting" aspect of their "marketing model".
WFG reps talk about how they represent 30 or more insurance companies. But most place all their business with just two -- Western Reserve Life and Transamerica. Both are legitimate companies, yet there are others that WFG reps could use but don't, because WRL and Transamerica, as part of the Aegon "family", offer commission incentives that may not be available with any of the other carriers.
Posted: Sun Aug 01, 2010 05:41 pm Post Subject: Listen to me.
I want to say this now so everyone knows. WFG IS NO SCAM.
Good, now that it is covered.. I understand what you mean. I also did not want to have my friends and family join something like this. HOWEVER. It is an amazing business opportunity. YOU MUST WORK HARD TO DO THE JOB. It is not easy work. It is very rewarding, however.
Yes, having our family and friends join is a tad scary, but you are helping them as well as yourself. The thing is, you can make money if you work your butt off. Every associate you have join under you helps you. Now I know! This sounds like mlm, but it ISN'T. We help each other up, offering our hands and pulling our friends and family up with us. There is no stepping on others. PLUS, it is NOT a necessity to even have anyone under you. You can easily do this job with JUST your own persistence with your clients. Just help them financially. When talking to your friends and family, tell them this: This is a business opportunity in which you decide your hours, you can help others, you can make a lot of money with hard work and persistence.
I was a skeptic when I started. You can't even imagine the fear when my mom said that she was doing this. I brought her so far down by telling her nonono, its a scam. Don't do it. All that stuff. I just got back from their yearly convention in Las Vegas and I'm convinced. These people CARE. I can't wait to work my butt off for my next raise.
Posted: Sun Aug 01, 2010 11:44 pm Post Subject:
This sounds like mlm, but it ISN'T. We help each other up, offering our hands and pulling our friends and family up with us. There is no stepping on others. PLUS, it is NOT a necessity to even have anyone under you. You can easily do this job with JUST your own persistence with your clients.
And can you become a top level "Marketing Director" without a "downline"?
I just got back from their yearly convention in Las Vegas and I'm convinced. These people CARE. I can't wait to work my butt off for my next raise.
And can you get that raise without recruiting anyone?
Answer these questions and you'll know whether it's "mlm" or not.
Posted: Thu Aug 11, 2011 01:15 am Post Subject:
Posted: Thu Aug 11, 2011 01:16 am Post Subject: World Financial Group...
heyy.. when was this convention in Las Vegas..? was it recently like August 3 - 8??? I know because a friend of mine went to it. Yes a lot of people believe that this is the best opportunity that anyone could ever get because for one, you dont get downsized. Another reason is because you make a lot of money. however, ive seen this a lot... in the meetings they make it seem like it is a very easy job and yes it is very rewarding... however it is a lot of work.. ann it starts off easy... but it gets very... verry!!! - difficult.
Posted: Thu Aug 11, 2011 11:26 am Post Subject:
you dont get downsized. Another reason is because you make a lot of money
You are self-employed. Who's going to fire you? Only you.
Make a lot of money? Only if you sell someone something. Otherwise you are "unemployed".
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