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Old 08-22-2011, 10:51 PM
 
3,532 posts, read 6,392,352 times
Reputation: 1647

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I had an opportunity to meet up with a person who is the Marketing Director of his company, and he informed me that the product he offers is financial services for people who need help in financial planning, retirement, or debt reduction. The way it works, is you pay a $150 start up cost, part of it for criminal background check, and a manual on how to start up your own business. The number of clients that you get to roll over 401k/403b tax deferred saving or retirement savings to another type of safer or less taxed account, the more your income potential increases. It appears that the company pays you, like a finder's fee, for sending new clients their way, and thus your income potential can grow as you find more clients.

I was just curious about this type of MLM, and wanted to know if any of you have any information on these types of businesses. Are they risky, waste of time or just another pyramid type of scam?
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Old 08-23-2011, 07:10 AM
 
1,402 posts, read 3,490,736 times
Reputation: 1314
I don't see where the pyramid/MLM part of it is....do they encourage you to then go out and find your own set of representatives to send clients through you to the company?

Regardless, whenever you have to pony up your own cash, its sounds like a scam. A normal business covers these types of expenditures.
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Old 08-23-2011, 08:47 AM
 
Location: Wisconsin
7,214 posts, read 9,353,981 times
Reputation: 7802
I've never heard of any legitimate company requiring a potential employee to pay for their own background check. I would say, "Thanks but no thanks", and walk away from this one.
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Old 08-23-2011, 01:50 PM
 
Location: Blah
4,153 posts, read 9,228,769 times
Reputation: 3086
Quote:
Originally Posted by MaseMan View Post
I've never heard of any legitimate company requiring a potential employee to pay for their own background check. I would say, "Thanks but no thanks", and walk away from this one.
Ditto,

Legit companies generally pay for or reimburse you for anything required such as Physicals, Drug testing, and back ground checks. Normal back ground checks isn't costly either and quick...unless you're going to be hauling hazardous materials or buying a Machine Gun. My guess is 10.00 of that goes to your background check and he pockets the rest. Then you will probably have to pay some monthly fee, probably materials of website fees. And I'm sure you're going to be required to find new recruits as well.

Anyhow, here is a list of questionable MLM companies if you want to check and see if this one is listed?

MLM COMPANY LIST AND DIRECTORY INFORMATION* 1000* Network Marketing
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Old 08-26-2011, 10:09 PM
 
3,532 posts, read 6,392,352 times
Reputation: 1647
Quote:
Originally Posted by SVTRay View Post
Ditto,

Legit companies generally pay for or reimburse you for anything required such as Physicals, Drug testing, and back ground checks. Normal back ground checks isn't costly either and quick...unless you're going to be hauling hazardous materials or buying a Machine Gun. My guess is 10.00 of that goes to your background check and he pockets the rest. Then you will probably have to pay some monthly fee, probably materials of website fees. And I'm sure you're going to be required to find new recruits as well.

Anyhow, here is a list of questionable MLM companies if you want to check and see if this one is listed?

MLM COMPANY LIST AND DIRECTORY INFORMATION* 1000* Network Marketing
Thank you.
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Old 09-07-2011, 12:14 AM
 
372 posts, read 737,191 times
Reputation: 432
Somebody recently tried to get me to do mlm. The way he did it was sneaky though, he acted like he and some other guys had an actual business and wanted me to work for them, when I met up with him he showed me some lame dvd presentation.

I wouldnt call them all scams, but I dont think the work that you have to put in is worth the money. Why not start your own business offering something of real value? You'll probably make more money and you wont have to harass your family and friends about joining your mlm.

The only way I would be involved in an MLM is if I was the one who started the company and I had people selling my products for me.

One good thing about them is that they have goo training programs that help you with sales and marketing.
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Old 09-07-2011, 07:54 AM
 
Location: Wisconsin
7,214 posts, read 9,353,981 times
Reputation: 7802
Quote:
Originally Posted by dnalsI gnoL View Post
One good thing about them is that they have goo training programs that help you with sales and marketing.
Yeah, but of course who ends up paying for those materials?

I agree with your comment about being better off starting your own business.
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