Is World Financial Group a Scam? [WFG Review]

30 thoughts on “Is World Financial Group a Scam? [WFG Review]”

1. Hi Julia,

   You’ve provided a very thorough review of WFG. I have been curious about the company myself as I listen to Ed Mylett’s podcast and have heard the company mentioned a few times.

   Although I am not a fan of MLMs, I do not believe that they are all scams. It seems that WFG provides a lot of value with their products and services. Anyone who is interested in this company will definitely find value from your review. Thanks for sharing your experience!

   Reply

   • Dear Eartha,

     Thank you very much for your feedback. I am glad that you found this review thorough and believe that it’ll help people in their decision-making if they are considering WFG in any aspect.

     I found LiveWealthyRetirement.com with a goal to help people find financial freedom at the retirement, or even retire early. Any career, including MLM, requires a lot of work during the first years. However, not every business continues to bring income after you can’t actively participate in it any longer. 

     In MLM model, your hard work in the beginning, is rewarded later by passive income coming your way in the form of commission from sales in the team you created. I don’t think that everyone will be making enough for the full retirement income, but it’ll make a good contribution to the diverse income streams, which we create when planning our retirement. Another one of many retirement income streams could come from a financial product purchased from WFG.  

     With the focus on supplemental income at the retirement, I think financial MLM company such as WFG could be a very good choice for both clients and participants. 

     Thank you again for taking the time to read this review and for your comment. 

     All the best to you.

     Reply

2. It is refreshing to hear someone promote a company they are involved in with practical experience.
   I would agree if you have had a good experience and have researched the offer to ensure credibility then you can move forward with confidence.

   Most of us need financial advice even if it is only to keep up to date with the latest developments in the financial sector.
   Having been involved with an MLM that delivered a very satisfactory outcome I am not anti-MLM model rather one who advocate due diligence.

   You have explained World Finacial Group really well, thank you for this excellent post.

   Reply

   • Dear Geoff,

     Thank you so much for your feedback.
     I was building my trust to the company very slowly, one step at the time. By the time I met WFG people, I’ve already overcome my negativity towards MLMs in general. As I explained in the post explaining the difference between MLM and a Pyramid Scheme, it was acceptable for me to evaluate and perhaps purchase their product and become their client. However, I was not in the stage when I would consider becoming their partner. These people, however, showed themselves as very knowledgeable and responsible professionals – more responsible than any other financial advisors and brokers I’ve worked with in the past. Their work is really rewarding. I’d enjoy doing a big part of what they do – that is helping others to analyze their financial needs, explain their options and offer best fitting products. I hope that those who need my help and advice will contact me and let me know.
     Once again, thank you for your visit and comment. I am glad that you found my review comprehensive and detailed.
     All the best to you,
     ~ Julia

     Reply

3. Hi Julia,
   Thank you for writing this article. I do not live in America so I had never heard of World Financial Group before.
   What an interesting concept, to pay only $100 and then be well on your way to be offering financial and insurance advice to people. Different countries sure have different rules and regulations regarding these sorts of things.
   I am happy that I read about a different finance model in a different country. It was interesting. I Don’t feel that I am qualified to talk about the specifics of financial literacy that you mentioned here. There are VERY strict rules around the qualifications and regulations that you have to have in order to offer financial advice or insurance advice in my country. Thank you for sharing.

   Reply

   • Dear Glenys,

     Actually, for $100.00 we only have access to financial education. We can’t educate others. We are not allowed to give any kind of a financial advice. The rules are also strict in North America. I learned finances with WFG for myself – to better handle my own family financial planning. I learned a lot, and then I passed the Massachusetts State Exams for Life and Health Insurance Producer. I paid another $50.00 for my exams to the state of Massachusetts (not to WFG). I also recently paid for my license, but none of this money benefits WFG. However, I am still not actively working as an agent, and my disclaimers there state that I am not giving any legal financial advice. What I do offer is to contact me in person, join WFG, learn financial literacy and financial products from the senior (and all licensed!) team members.

     I am sorry if my article was misleading. I hope this resolves the confusion. I’ll have to re-read and edit this post again if it makes people believe that for $100.00 we become financial advisers.

     Best wishes,

     Julia

     Reply

4. What about Don Iley from Denver? He had 2 prior embezzlements, and he was with WFG over a dozen years. Maybe you should give your readers a balanced unbiased view if you wish to help them.

   Reply

   • Dear Phil Bicking,

     Thank you for your comment. I shared my view with my readers as objectively as I possibly could since it was based on my personal experience and personal involvement with the company. In my article, I showed that WFG is a legitimate business, and the people I’ve met and worked with were very empathetic and utilizing great business ethics.

     I’ve never heard of Don Iley from Denver, and since you’ve mentioned his name, I Googled it. My search didn’t return any results on this name in connection to WFG. The closest match I found was on Don Richard Iley of Parker, Colorado who was a business owner of an Iley & Associates accounting firm and was charged with stealing millions of dollars from his small business clients. If there is something we all should know, please share more info.

     I am inviting my readers to join my team and wonderful people in my upline. Even if someone in Colorado, who was with WFG for years, committed fraud, it doesn’t mean that the entire company is a scam, does it? Or, let me please hear more from you about Don Iley and how influential he was at WFG.

     Thank you again for taking the time to comment on my post.
     Warm Regards,

     ~ Julia

     Reply

     • I can share my own experiences. He recruited me to be an agent for WFG/Transamerica Financial Advisors. He was a top producer in the Denver office more than 10 years. You can find his picture on the stage receiving the award at the WFG convention.
       The guy was a con artist and WFG forced me to work with him. He was my recruiter and every single question I had was deflected back to him from the direction of the headquarters, and the front manager, the CEO, and the upper-level management.
       We know he was a con man because the proof is in the pudding. He had 2 prior stipulations with Dora that went unreported on brokercheck.org yet later the firm reported a story of a customer complaint that led to his termination.
       Finally, 10 million dollars is still missing the money he stole, and it was widely reported that it was placed in pensions.
       So now you can explain to your readers how to place millions in pensions via WFG simply by using the line of authority granted to them and the firm is oblivious to where the money came from.

       Reply

       • Dear Philip,

         Thanks a lot for sharing your story. I am sorry that you had such an unpleasant experience. I guess, there could be con artists in every business. That’s why I took three years to test the company and explore my local office and people in my upline before suggesting others to join WFG. I only promote trustworthy branches and honorable people. If someone wants to join WFG, (s)he will either join my team, or I will find trusted people in other States
         or in Canada through the local connections. An interstate team is also a possibility. Canadians would have to join an office in their country, but we do have connections and offer recommendations.

         Your comment will stay here under my article – so, that my readers could read your story and take in consideration that there is always a possibility of meeting dishonest people (within WFG and anywhere else). I don’t take the blame on myself for what Don Iley did. You wrote that he is no longer with the company. Then, he personally is no longer a threat. I am very happy with the service and training I received from WFG team in our Lexington, Massachusetts office. I’ve purchased Transamerica’s product, was thoroughly walked through all its pros and cons, and am happy with its conditions and current and future benefits.

         Thank you again for the warning. However, I still feel that my potential clients and/or future associates are safe with WFG and the team I am in.

         All the best to you,

         ~ Julia

         Reply

5. Hi Julia and everyone,
   I agree you explained many things right but between the lines, something is not true!
   You will pay ( $100) for your initial fees + $ 268 for your life insurance license + more fees when you pointed with the providers & they will keep pausing you as a requirement to be in this and that event for training paid from ( $20 to $1000) depending if that need you to travel to another state or city, It’s your business so you need to pay for everything, your car gas, you need special clothes for each event, you need to pay for event ticket not less than ( $175) a person, pay for your hotel and food …..etc. not less that 3 days /nights!
   Furthermore, if you dream to grow this business, you have to have at least 3-5 Solid family relationship to start with them your (10 KTP) training, also you have to keep marketing/declaration about your business by the social media which some of them cost you monthly payment, you have to call people by resume or so (that’s mean you need to buy a lot of resumes) can cost you $300- $1000, and if you would like to create your own BLOG, that can cost you more. In the end, I would say that it can cost you more money – not only $100. This is normal with any business and it means that you need to invest your money between $100 – $1000 monthly. With the training and growing, it can take you a couple of months to make probably your first $1000 or less! You need to grow so you need to invest more and after a couple of years or just one year if you have a great warm market or if you can put at least 10 hrs. everyday (no weekend and no family time – that business can fit for a single person or for men, but not women with a family…) You can probably make $2000 – $5000 a month, and from that level, you reached after one or more year, you will grow up faster & make more monthly/yearly income. Again, that depends on how much money and hours you put in and whether your team members continue with you and don’t quit.
   So, if you read what Julia said + my comment and you feel you can do it, so go and fly!

   Reply

   • Dear Nana Ibrahim,

     Thank you so much for your input! It’s invaluable!

     My article is a review of the company, and I was trying to show that WFG is a legitimate business. My review is very honest and open – there is nothing “not true” even between the lines. In “What does MLM mean for a business partner?” chapter I wrote: “~ WFG never promises its potential partner an easy work and/or quick money. The team always makes clear to the freshly joining members that selling insurance is hard work; it requires evenings and weekend time because most potential clients work during the business hours.” You confirm this in your comment, thank you.

     I also wrote under “Your steps in becoming an Insurance Agent and WFG business partner.” header: “… 7. Buy your license, purchase Errors and Omissions (E & O) professional Insurance and pay an appointment fee. None of this money goes to WFG, these are regular expenses of an insurance agent. Altogether these fees are under $500.00”
     All these other expenses, which you mentioned in your comment and I listed in my article, do not go to WFG; the company doesn’t make any profit from an associate’s license cost or his/her marketing expense.
     You are NOT obligated to visit any WFG events, either local or out of state. You are absolutely right: every business requires some investment, and as you estimated $100 – $1000 monthly with WFG – that’s a very low monthly amount (basically nothing!) to build your solid business, which brings you $2000 – $5000 a month in a year or two (you said it!) People invest much more into their brick-and-mortar businesses and often don’t get any profit at all within the first 3 years. Even IRS anticipates losses from a small business within the first 3 years. You are talking here about a minimum of 12K profit within your first year: investing your max estimate – $1,000/mo, and earning your minimum estimate – $2,000/mo. That’s $1,000 monthly profit. That’s amazing! And you are telling us, that it gets easier over time…

     It sounds like you’ve done even more personal work with WFG than I have, and I take your comment as personal encouragement to continue on an be more active in that business. Thank you very much for your insights!

     I wish you great success in all you do, much love and strong health!

     ~ Julia

     Reply

6. Julia,
   Thanks for your great summary and independent review of WFG.
   I’m a recent member and can support your assessment. The training alone is worth the membership fee but would recommend folks to work with a local WFG colleague or be open to WFG /WSB members. In fact, we are now in a US/CA Financial Literacy Campaign to educate more families on the basics of money and money management.
   Not only is the initial information valuable, but, the products from the insurance area and financial areas are always changing. The education and updates are extremely valuable to ensure clients and members can help families with the latest information and/or product offerings available.

   Reply

   • Dear Henry,

     Thank you very much for your input in support of my review! I totally agree that continued education is key to success for both associates and clients. Even though I haven’t pursued the opportunity with WFG and fell behind since I’ve written this review, I do remember how much attention was given to the learning and keeping up to date on all the insurance products.

     I wish you great success in your journey with WFG and your financial business,

     ~ Julia

     Reply

7. WFG is a MLM and sells legit products
   I’ve got my licenses Life and Series 6 and moved to Waddell and Reed, more traditional investment co.
   The problem with MLM is recruiting new people in the system, in a limited pool of people and if you are not licensed even if you recruit all the people in USA, you are not making a dime.
   The products they sell, not the best, not the worst on markets, the financial plan they teach you can find it on Internet, or buy a financial book under $ 100 or check Dave Ramsey on Youtube. The license agents, some might know what they sell the others have no clue how a VUL will work.
   All in all , if you understand WFG survive because of recruiting constant new people in the system, you will not make money if not licensed, and after that to succeed you need to sell like crazy machine. By the time you do this, you will be pretty much in debt, if you want to keep up with the company training and motivational circus. Go for it. But if you do, go first for the license, not the crap and phony dreams they sell at recruiting presentation

   Reply

   • Dear Emil,

     Thank you so much for giving us your feedback based on your personal experience.
     It sounds like it wasn’t made clear to you when you first joined that without a license, an associate cannot make any money. I thought that I explained it clearly in “Your steps in becoming an Insurance Agent and WFG business partner” section. Thank you for stressing it out even more. That’s right! An associate needs at least “Life and Health Insurance” license to start making money, and Series 6 and 7 to be able to sell investment products.

     And you’re also correct that everything taught by the WFG or even the best Universities can be achieved through self-education. One doesn’t really need to go to a college in order to learn any subject and occupation. But how many of us possess such discipline and a high level of comprehension? We pay tens of thousands of dollars to have the material lined up and presented to us in a systematical manner, and for the ability to ask questions and receive clarifications from the experts. In my opinion, $100 is nothing for having instructors and mentors.

     I did not experience any misleading information at the recruiting presentations. Though, I attended only one and didn’t even pay attention to all “the crap and phony dreams they sell”. Any thinking person must understand that there is no easy money. People can get wealthy with WFG and earn good residual income, but like anything else, this requires focused and committed efforts. During my 3 years of observing the company and its business, I watched my friend’s tireless work, her promotions, and financial growth. She was happy because that was her passion, but as I mentioned in my update to this article, I opted out.

     Once again, thank you for your comment and for your warnings. It certainly must be a call of passion for one to succeed in this business (or any business for that matter).

     All the best,

     ~ Julia

     Reply

     • Hi Julia,
       I hope everything is well with you. We both give the answer to your readers. As a side note, no I was not misled by WFG, the first question I asked my “recruiter” was ” How I make money” and second “How fast I get my licenses? I’m not quite interested in diamonds, cars, or cruise trips in your selling pitch. WFG is not a scam and the business structure is based on networking-marketing. From the start, if selling is not a passion, vocation, or in your blood, you will not make as a professional seller, no matter what you sell: BMW, diamonds, dreams or ideas.
       Back to WFG. Why is it the best opportunity around? For $100 you can get licenses in the financial world. Take it to the bank. But again, with all licenses in the world, if you do not know how to sell, those are useless. You don’t have to buy a product, the only thing you have to give, is the list of your friends, family, and everybody you know to your “upline” and whoever is your upline or MD with license, will sell to your market, by the time you get license, you will not have a market, to sell to. You need constant recruiting to “build your business” By now, 2019, everybody should know how MLM works, the pay structure, in any MLM the turnover is so high, people come vs people go, and by numbers, 99% of people joining MLM will not make it, or make any money, or make a living. And the numbers do not lie. I’ve never seen on any WFG presentation tax return of so-called “successful” people in WFG. Anyway, as long as you know what you want, what you are getting to, WFG is the only MLM paying back $100 with a profit, that being said, getting licenses good enough for doing business with any financial entity. Indeed, it’s up to you, how fast you get it, and besides, $100 you might spend extra $$$$ to go to conventions, and somewhat to get used to with kind of a “cult mentality”, keep your critical thinking in check.
       All the best Julia to you and to your readers.

       Reply

       • Hi Emil,

         Nice to have you back! Thanks for your response. I’m glad to hear that you weren’t misled from the very beginning.

         I think that we are in agreement on most of the things. I did mention in the review that with the licenses received, people could decide to work with another company if they find out that the MLM model is not suitable for them.

         I like your mentioning of the “cult mentality” and your warning to “keep your critical thinking in check”. While participating in small WFG gatherings (I never opted-in for a convention!) and watching their presentations and training, the forced “cult mentality” was turning me off, but I just set a barrier for these parts of the speeches and never let them enter my mind.

         Many successful business owners advise in their motivational speeches not to try, but do. In my opinion, every person should first try in order to decide if the job is suitable for him/her. Many people end up opting-out, and perhaps, that makes the turnover so high. I don’t see anything wrong with it. Only those, who’ve made a positive decision towards the occupation and business operational model, should drop the word “try” and firmly decide to “do” in order to succeed.

         Wishing you great success in all you do!
         Warm regards,
         ~ Julia

         Reply

         • Hi Julia,
           The truth will set you free ?
           This is the last on this subject. I had good experience with WFG because I’ve got it what I Joined for.
           WFG is the marketing arm of Transamerica owned by giant insurance Aegon. You made it clear.
           Now the good stuff about WFG
           Aegon can drop WFG in a split second if no good for them.
           In the financial world, WFG looks like a joke to the real players.
           Transamerica in 2018 settled $195 million lawsuit
           The flagship product of WFG was at my time in this MLM: VUL (variable universal life) A product not suitable for the recruits or market WFG targeted. I do not go in nuts and bolts of VUL and why it’s bad for broke people, middle class, and bad enough for people not wealthy enough to take advantage of tax benefits in VUL
           WFG reps selling VUL, they do not have any obligations to put the client best interest first. They are in business to make money for them and Transamerica, not “helping families”.
           That’s why VUL, WFG aggressively (some cases at the limit of break the law) everywhere, meetings, conventions and on the families table.
           WFG reps they do not make any money by selling a Term Life here and there, mutual fund here and there, annuities here and there.
           So why VUL?
           The most commissions WFG reps, they get, is from VUL 100% paid by Transamerica
           Transamerica never loses money on any VUL sold, except in lawsuits.
           VUL is a black hole where the buyer’s wallet is spaghettified to nothing ?
           If You get a VUL:
           1. Bad returns because of cost, fees and not so good investments by Transamerica
           2. Surrender charges if you want to cancel
           3. Cost of Insurance will just grow and grow, eating from the cash value, in the meantime you just pump good money after bad money in VUL
           3. Just let the VUL eat itself and get over with the money lost

           Most cases the clients of WFG, drops VUL after paying years and years, Transamerica wins, WFG reps wins, whoever bought VUL lose
           Just one example of how money works, might not be accurate to the last $:
           I buy VUL this month $100000 Life insurance policy and I will pay monthly $200 ($35 goes to the premium $165 to my cash value).
           The WFG rep gets 100 % commission, let’s say $1000 upfront, and Transamerica will start making money if I pay enough, for them to recover $1000 paid to their reps.
           Next month I want to cancel. Because of the surrender clause, I lose $200 and Transamerica charges back his WFG reps. I lose, WFG rep loses, Transamerica wins.
           If I keep long enough paying monthly $200 Transamerica will make enough not to charge this WFG Rep back, the WFG will get monthly residuals from me keeping the policy alive.
           The only way I can win is if I die soon to leave my family $100000.
           I do not believe WFG changed this behavior (will not be any good to Transamerica), and suddenly start selling real financial plans not involving VUL, now they sell FFIUL, another insurance anomaly, and they got sued for.
           No, WFG does not help families, because their market does not need this kind of insurance.

           Thanks, Julia.
           I’m done with this subject. WFG was good to me. Your review is fair to your readers regarding WFG, a little bit on the optimistic side, you stated clear you did not join, you did not get securities license only Life insurance ( you still an angel ? ) so you might not know it at the time “how WFG is helping families “. And besides, you let some other readers post some negative aspects of WFG. And if you bought VUL, please tell the world I’m wrong. We gonna fight to the end 🙂
           Cheers

         • Hi Emil,

           I know very little about VUL, but I was well familiar with IUL. When I got my license, it was allowing me to sell Indexed products (the rules have changed soon after, I believe). I think that IUL is a wonderful product for some families in certain situations, but it has to be used smartly.

           My friend, who tried to recruit me, helped many of my friends in decision-making on their financial choices. That was AFTER she knew that she lost me as an associate. I watched her evaluating each person’s family situation and suggesting different types of products, including Term Life, which I personally would never waste my money on. It’s not her favorite product either, but she was listening to what people were telling her and made her suggestions accordingly. So, I guess you can’t say that WFG does not help families, but certain dishonest associates do not and only try to profit. They are obligated by law to act in clients favor, and if they don’t — it’s their personal choice and responsibility. I assure you that I’ve met plenty of dishonest salespeople in all branches of finances and not only in finances. It’s easier for me to count honest insurance agents, mortgage brokers, real estate agents, and car dealers I’ve met during the years I’ve lived in this country – there will be enough fingers on one hand for counting. WFG insurance producer was one of the few honest salespeople I’ve met.

           Once again, I don’t like fights and controversy. Everyone has a right for own opinion as long as it’s not presented as a set-in-stone fact. Thus, I value your opinion, Emil.

           If someone else is following our conversation, I suggest keeping in mind Emil’s advice, do your own research, and aks your agent/ recruiter abundance of questions as many times as you need to fully understand the answers.

           Best,

           ~ Julia

8. Hi Julia
   Sorry for some misspelling, I’m in a habit not to read what I write, only after I post. Let it be as it is. If you can correct me, fine. If you do not want to post last rant, perfectly fine with me. I’m done with WFG
   Regards!

   Reply

   • No problem, Emil! Thank you for your comments.
     Cheers,
     ~ Julia

     Reply

9. Thank you, Julia, for posting this. I appreciate you joining after three years.
   I read the entire research and I sternly believe that I am the decision-maker of what insurance fits. It’s a personal choice. Yes, WFG is helping families by letting families know that they do need insurance and start saving! There are at times we earn a lot and do not invest right and later blame the company or the system. For example Term. need to be very careful of the Term Insurance. If one’s budget does not support to pay the UL, then Term might be good.

   Reply

   • Dear Judith,

     Thank you very much for your feedback. WFG is a legitimate company, but of course, the associates are just people and like everywhere, some work in client’s interests, others — in their own (even though it’s against the law). I was truly lucky to meet a very helpful and considerate Senior Marketing Director (SMD). She was honest and very knowledgable.

     After 3 years, I actually decided NOT to pursue the business opportunity, but my choice was based on my own qualities, skills, and interests. I watched the hard work of this SMD and her team, and while I know how to work hard, the cons of this occupation took over.

     You didn’t mention your relationship with the company, whether you are an associate, a client, or side observer, but whatever you do, I wish you creat success and believe that it can be achieved with WFG, but it’s not at all an easy job.

     ~ Julia

     Reply

10. I have a sincere and simple question: Why are there hardly any reviews of customers making money by choosing WFG? Most comments are reviews from the employee standpoint. What about people mostly buying the retirement plan or other services and making money from them? I have friends trying to get me to buy the retirement and insurance. But, where’s the proof? Why are there so few satisfied customers willing to give good reviews? Please help. Thank you.

    Reply

    • Dear John,

      Customers don’t make money. By definition, a customer is someone who spends money in exchange for goods or services. If you want to make money for your retirement, you need to invest – not to buy an insurance product. You will still pay for the service of managing your investments, and there is no guarantee that at the end you will make money because your investment depends on the market fluctuation, but you get a better chance to have a higher return on investment than the cost of the service.

      What is the name of the product which your friends are trying to sell you? It sounds like it might be a Universal Life, either Variable or Indexed.

      UL is a wonderful product, but it is an insurance product (not pure investment), and it’s not for everyone. UL protects your loved ones from financial hardship in case of your death. Customers, who made money out of this product cannot write reviews because they are dead now. It’s a high-cost product. However, if your goal is to buy Life Insurance and yet save some cash value for your retirement, this could be a good one for you. Please don’t buy it unless you fully understand how it works. If you live to retirement, you will get money back, but it will be your own money minus cost of the product plus interest earned during the years you had this product. The growth from the investment made on your behalf may offset the cost of your life insurance coverage, administration cost, inflation, or even get higher, but there is a good chance that it won’t. Think about this product as Life Insurance & savings for the retirement rather than investment.

      I hope this helps,

      ~ Julia

      Reply

11. Hi Julia,

    I’m glad to come across such an unbiased review of WFG. You have thoroughly gone over all the pros and cons (what you felt & observed) of WFG and these are some of the things I have noticed too.

    My closest circle has strong reservations about WFG. Even I personally had/have and this is why I quit it twice. This is the third time I’m rejoining them. While the negative review circulating over the internet is true to some extent, the blame cannot be put on WFG. WFG only provides you a platform for doing business. How you do business is entirely on you and unfortunately, some people have exploited this opportunity and that is why everyone runs to another direction when they hear the name WFG.

    The SMD I supposed to train under is very ethical and transparent. He has never been pushy, nor hid anything and has never given me any false hopes of seeing this as a ticket to instant wealth. In fact, he completely supported my decision to leave if I felt it was not for me. These things really matter to me and now I totally trust him.

    There is a reason to share all this with you. I want to give it a good shot. My reasons being that I want to start a career in financial planning and WFG having agreements with so many financial institutions, I believe it’s a good platform to start my financial planning career. The second reason is that I’m applying to different accounting and finance jobs on a regular basis but nothing has worked out for me and at this point, I really want to get into my relevant field ( WFG is more a marketing company than finance but still serves many functions of financial planning). Lastly, I actually want to learn the selling and daily interaction with people skill set as I feel it is very important.

    I don’t have any goals of making to a particular level in a given time frame. Right now I just want to learn as much as possible and follow it with passion.

    However, I don’t want to have this hair in my mouth is that what I’m doing is borderline sketchy and something that is considered legal today but not in the future. I really want to make an impact in mine as well as other people’s life and also remove fears of my closest circle. The last thing I want to know that all the negativity speculated about it turns out to be true and I knowingly have ended up hurting a lot of people.

    With this, I ask you, should I continue with WFG?

    Reply

    • Dear Haider,

      Thank you for stopping by and sharing your story.

      While WFG is not for everyone, and their most promoted product (UL) is not for every family, based on what you wrote, it sounds to me that you are the right person for WFG and WFG is a good choice for you. You seem not to be needy and desperate to earn lots of money in no time. You said that you want to learn and your passion lies in the financial field. You also said that learning the selling skill was of your interest (which wasn’t one of mine! 🙂 ). You were lucky to have an honest and knowledgable SMD. I believe that this is all you need to set your mind on helping people first, and making a profit – second. Remember that there is more than one product WFG sells and don’t push to everyone only the one where YOU earn the highest commission. Listen to what people’s needs are and help them choose what’s appropriate to their situation.

      If you do that, who cares what others around you think… even your closest circle? Don’t let other people stop you from doing what you believe is right.

      Are you concerned about Public opinion? Historically, the public had a bad taste for MLMs. That’s because many scam artists performed under MLM cover, and way too many MLM companies made their compensation plan nearly impossible for the most associates to succeed. But, there are a few exceptions, and WFG is one of them. A hard-working associate has a good chance to make living with this company. It could take years and it WILL require a lot of hard work.

      I didn’t pursue WFG opportunity because of the selling aspect, and yet, I joined another MLM in a year after I refrained myself from WFG. Why? Because I found an MLM that works for me: it’s free to join with no obligation to buy any kits and stock inventory in my closet, the products are easy to understand, very beneficial for people’s wellness and currently are in high demand. The compensation plan is unbelievably lucrative and fair for all. And, most importantly for me, I don’t need to sell anything. The company creates a free website for each associate, which offers a digital store. All I need to do is share my site with others. Once they register, they get their own website and decide for themselves whether they want to buy anything and what they want to buy from their own online store. I help them to start: explain the industry, the products, compensation plan and how to get around their website. But later, they don’t even need me – though, I am always available. I love teaching, but I don’t like selling. This works for me!

      Thus, it is impossible to lose money with this new MLM because it’s totally free, to begin with. And yet… I receive a “pyramid scheme” remarks from people who don’t want to think and prefer to stick with the stereotypes. I feel sorry for these people. I am NOT questioning my own positive experience with this company and its products, my faithful intention to help other people, and my own dignity.

      The financial industry itself is tricky: it’s complicated for many customers to understand all the details and those financial professionals who work for traditional companies also often take advantage of naive clients and sell them products to gain personal profit rather than meet clients’ interests. WFG professionals are not an exception: there are honest people and there are swindlers.

      Make sure that you serve other people’s needs first, and you’ll see that it will pay you back generously. Don’t listen to those who didn’t take time to learn all the details about your business, consider all pros and cons with you, and yet are trying to turn you away from your passion.

      I hope this helps and encourages you. I wish you great success in all you do.

      ~ Julia

      Reply

12. Very informative article. I also share your beliefs re: MLM, selling, and need for financial information. I was also under the impression that the fee paid was a lifetime membership to obtain that knowledge and no obligation to sell.

    Imagine my surprise when I recently received the cessation email from the Toronto WFG head office, especially since I’m not even licensed ! How am I expected to do this legally and, like you, my impression was that my membership allowed me to gain more financial knowledge. I’ve also sent two replies to the email without any response.

    Now I feel I was scammed !!!

    Snippit of email follows:

    “We are writing to inform you that your association with World Financial Group Canada Inc. or if applicable World Financial Group Insurance Agency of Canada Inc. (collectively, WFG) has been ended by WFG because you did not achieve and/or maintain a personal commission level of $2,000.00 or more for the first full calendar year of your membership or any calendar year thereafter. This termination is pursuant to the termination clause in the WFG Associate Membership Agreement (AMA).”

    Reply

    • Dear Steve,

      Thank you very much for the comment and for mentioning this letter. I received it too after 4 years of being a member and feel the same way. I also learned from my friend about a rather cruel rule that applies to those who worked as hard as she did to achieve the SMD rank: she had to give up (I’m not sure to whom…) the most active member on her team and basically, start over in order to move on.

      I don’t feel good at all about these latest findings. I just didn’t have a chance to update the article yet, but I’m planning to do so. It’s good that we at least discussed this in the comments – so, that others could get to this information while the post is not updated. Thank you!

      I’m very happy with the Affiliate Marketing and Wealthy Affiliate. If you are interested, you can check it out for free – the first week of the free membership gives your access to many resources including our awesome community where you could talk to people in live chat and get answers to all questions you may have. There is a push to upgrade to Premium within the first week with the offer of a 59% discount for the first month, but other than taking advantage of this discount, you can take 6 months to decide whether it’s something that suits your interests and needs. In 6 months, the free websites people build may be taken away to free up space on the servers. But those who build their free websites, are most likely ready to upgrade and move their work to their own domain names before 6 months are over.

      Currently, free members get 2 free websites with hosting, and Premium members get 25 free + 25 websites on their own domains. This will change on March 16th: free members will get only 1 free website, and Premium will receive 10 websites of any type. Those who joined before this date will be grandfathered. Here is an internal WA blog post that Kyle, the co-founder of WA, wrote about WA web hosting and change in the rules.

      Once again, I greatly appreciate your comment and will try to work on the update of this article as soon as I can.

      ~ Julia

      Reply