World Financial Group 189 Montague St a Scam? (contractor, college)

[Armyvet1]

Never heard of a legit company asking for 100 bucks to file an application for employment.

I could come on here and type that I work for the company as well, on these forums anybody can type anything, doesn't mean it's true and most likely it's not.

NYC is filled with crooks, scammers, greed and corruption.

If it has NYC followed by the word finance in the same sentence, I would not trust one line of it.

[Taxi guy]

They seem to be operating legally but then again so did Bernie Madoff. It would not surprise me to some day see the boss being led out in handcuffs with his $3500 suit jacket over his head.

[MilksFavoriteCookie]

Originally Posted by Johnnysoto11

Have a interview tomorrow with a Juan Nunez and would like to know if this company is legit or a scam?

Tough one because WFG or I should say WMA is known for fraud, misrepresentation, false statements, lawsuits, etc. Basically like every other financil firm, but WMA couldn't keep their dirty laundry hidden. After the company was bought, WMA became WFG and is starting on clean slate. This shouldn't concern you though as literally every financial firm has their skeletons.

Now about the industry or MLM:



Insurance is really sales and thus, a very tough cut throat industry. In reality, this is the atmosphere that you should be expecting. To be frank, it is not an industry you want to get into if this is your first job as the failure rate is 97%. I repeat you have a 97% chance of failing. What people wont tell you is that the successful employees are usually the ones who walked into the building with a solid network. Pay is commission only and if you can survive your first 3 years, you'll move up the food chain and become a financial advisor at Transamerica. Immediate problem as you can see is commission only. People have bills to pay and college kids are in debt up to their neck.

Your job is to just get your series 6,63,7 and generate a list of names to add to your superiors portfolio. Many insurance companies will not pester you to get your 7, but now is your time to get it if you want flexible career options.

Why are you cannon fodder? Well like everywhere else today, companies today do not invest much in training, but in insurance it has always been that way. Unless you find a mentor, it is everyone for themselves. This is why the turn over ratio in insurance is one of the highest. MLM firms like to hire people ill equipped for the job because that is how MLM firms operate. See getting wealthy is a numbers game. See MLM is built on endless chains thus mathematically in order for it to work, most are required to lose. The 97% failure rate is fundamentally tied to theses endless chains or endless recruits. The 3% who succeed are only successful at the expense of others. All I'm saying is just be aware you are walking into the building and behind those smiles, no one expects you to last a year or even 6 months as you literally are cannon fodder. There recruitment process or weekly seminars are proof enough. A job with a high turn over ratio typically does not care for the welfare of there employees and as you should now understand needs people to continue the cycle of endless chains. Why isn't MLM a scam? Well as that video points out, it provides value to the customer, but MLM is with 100% certainty a scam for the employee. Many NASAA/ SEC regulations are focused more so on protecting the rights of the customer rather than the employee.

[PEQuinn]

WFG and Vfg are as legit as it gets. How many legit companies or MLM's that have a 50 Story building in the heart of San Francisco, Ca. Answer, none!

WFG is the largest IMO, (Insurance Agency) insurance/financialServices/Company in the United States, backed by TransAmerica, with 100+ years in business with over $150 Billion net worth, futher they are owned by AEGON, the largest
Insurance company in the World.

VFG is a Virtual version of WFG, you could say they are sisters. VFG believes that Canada and the USA, a $400,000,000 market, could not be served without being Virtual. Imagine the driving, the mailings, the TV advertising, VFG does all of that online virtually, which on the long run gives the consumer more value, less spent to meet you = more value.

You are probably familiar with normal insurance agencies, so try the virtual. Imagine going to their beautiful 50 story building over looking San Francisco Bay, while you are really sitting in your living or family room enjoying a cocktail while finding out that the plans you had shopping for were A. More money and B. less value. How? No brick and mortar.

[nyccs]

I remember I went to an interview with primerica right out of college...how is this different? We all know Primerica is a pyramid scheme.

[ughhnyc]

lol at these people from the company registering here to post in this thread trying to stop the companies reputation from being tarnished. probably the same person, and they can'rt even speak english...fail..

[cee4]

LOL you know how easy it is to tell if its a scam? Ask him if he makes more money from referrals vs actual sales of products himself. If it was such a successful business he wouldn't need to constantly seek referrals for their networks to sell to right?

Not only do you have to pay to get "licenses" they have no standard for who they want to join. Anyone off the street can sign up for WFG as long as they are willing to pay the fees.

The presentations are 100% focused on the amount of money you can potentially earn and these ridiculous superbowl-esq rings they offer to members who reach a certain sales amount. Does that sound like a reputable company to you or more of a snakeoil salesman pitch?

[norralta]

WfG

Scam = No
Hard work required = Yes
Cost = minimal.
Time required = moderate to high
Potential = high
Is it for everyone = No

It is worth taking a careful look at. Don't believe negative crap from idiots.

Check the annual commissions paid out !

Spend some time to check it out for yourself. NOT a get rich quick scheme but legit financial products and services.

In order to establish a viable business, be prepared for fairly steep learning curve. it will typically take 2 to 5 years to be successful with 6 figure earning potential.

Remember that high compensation in any industry may not always attract perfect people. But when have you seen perfection in any work / office situation ? In the end it is really about what YOU do with your business platform and not about someone else, since you will have the power to do it right.


This business platform could form basis for further specialization, such as retirement planning, etc.

Financial products are wide ranging and many - from reputable companies.

[STEVEN 1]

I do not believe this company is legit because all the posters posting positive things about the company are junior members and the posters warning you about it are senior members.

The only guarantee you have to becoming uber rich is to be born into it. 98% of us arent born into wealth and we have to go to college, learn a trade, or try entreprenuership and even with a degree, technical skill, or owner of a business, there is still no guarantee of becoming rich.

My advice? Do something that will make you happy, motivate you to want to succeed at it, and at the end of the you feel satisfied with the work you have done.

Some of the happiest people on earth are blue-collar, they are the ones who build things, fix things, create things. To me there would be nothing more dpressing then a cubicle working for a company who could careless about their customers or employees.

[nyccs]

Sales jobs blow.