End The WFG Scam! #wfg #worldfinancialgroup

#wfg #worldfinancialgroup #pyramidscheme #scam

WFG world financial group pyramid scheme scam mlm multilevel marketing

[kelloggscuts]

Can people in the US be part of this too?

[clintjosephshaji]

Without the bias, I’ll give you my two cents:

1. WFG & Primerica are two MGA or managing general agents that are licensed to sell various financial products. However, 99% of their advisors are just insurance agents, not licensed to sell mutual funds, ETFs or stocks. Therefore, they only are allowed to sell insurance or segregated funds (which are mutual funds or ETFs wrapped inside insurance at a much higher fee)

2. Their recruitment process & the idea that everyone can be a financial advisor part time is a great idea for the ones inside the organization who benefit from down line commissions, but it’s a bad idea for the client. (Akin to getting your brain surgery done by a guy who is a car mechanic during the day, but also opens a couple of brains on evenings & weekends)

3. They have access to multiple insurers, but they sell Ivari that’s their own product and industrial alliance (that gives extra commission on volumes) predominately. Therefore, it’s not very independent. Ivari and IA both are typically much much more expensive products compared to RBC, Empire, Desjardins, and many others in term life space.

4. The focus on selling universal life is very misleading. Newcomers are made to be scared about estate planning when they have no estate, taxes are exaggerated and their hard earned money that should have been put into RRSP, TFSA & such tax efficient instruments, is mow wasted into paying $300-$400 into UL.

5. UL is also projected at 8-9% growth over the next 30-35 years which is definitely borderline illegal/misleading. No funds should be projected at such growth, especially when they’re index funds and have 2.5-3.5% fee built into them. The unfortunate result will be, when most of these people turn 65, their universal life policies will have massive shortfalls which will be impossible to fill at that time. The irony is that most WFG agents themselves don’t understand it and I feel sorry for them in advance.


6. Index funds inside UL could be bought by you at 0.1-0.2% fee compared to buying at 2.5-3.5% inside universal life.


7. IA style RESP plans are another one of their favorite products. So you commit to pay $200/month for the next 15 years, that’s $36, 000 and the agency gets paid 5.44% of that upfront (that’s $1950 fee paid upfront). Now you’re stuck in it and anytime you wanna get out, it’s $1800 penalty & fees/charges. Money is invested into index funds, but you pay 3.5% fee on those. Why not open your own RESP & invest at lower fee, and no penalties?

8. The worst part is, agents don’t even get paid half of what I would get paid for working with any other firm! Because money gets divided into 7 levels plus agency commissions. So, knowingly or mostly unknowingly, agents are selling you sub-par products at a much higher fee, with much less suitability that’s not benefiting you, the client at least!

9. Seg funds are very unsuitable for most young people. You’re again scared into buying because of “estate planning”, “death benefits”, “creditor protection”, I can take a whole new post to explain that, but in a nutshell, your registered plans don’t need to be in seg funds unless some very exceptional reasons are there. In addition, charging DSC which is 5% upfront commission and locking your fund for 6-7 years is a bad idea & bad advice. Again, most of these agents don’t understand the details, they’re trained like that. But you as a client should know better too.

10. The industry is coming up with more regulation in terms of using the term “financial advisor”, at this point, everyone and their dog can write that title. Soon, most WFG guys will only be able to say “insurance agent”, not FA or financial planner. That might help a wee bit.
If you or your friend need more reasons, happy to discuss even more. But if someone still needs more reasons, they’re already brainwashed and drinking the koolaid! More power to them!

[Austin_Patrick]

I went to a seminar at WFG for the lols in 2020, was introduced to a gentleman by the woman that invited me to the event. As soon as I brought up MLM he ended the convo and walked away lmao

[Ritzy]

My coworker was getting me to join WFG.... A COWORKER!!! ISN'T THAT WILD!!

[CindiCees]

Im going to do this, this group goes after new immigrants coming to Canada!

[lmusima]

Great 👍 job Marco. These scammers need to disappear

[Sam-Public-UK]

I had one time wasted a lot of money on signing up to the licensing program I did not really need back in 2020. It was an arduous process that even got me feeling coerced and railroaded into galas and presentation I did not need. Maybe you could help recover what I lost. It was around $2000 US I see this is Canada. WFG is even worse, it’s an mlm structured around getting loved ones and friends to participate and denying them when they don’t.

[amesblitz]

Awesome work, Marco! I hope all the survivors/victims see your vids and file reports!

[shoopinc]

You are doing great work! We need more people this motivated to end these scams around the world!

[keke]

Damn the WFG "offices" near me don't have the name on the building up there all nice like that. Here, they rent out offices in random office buildings for the night/week only 😂

[NolympikoSoccerInformation]

Let’s go Marco ! Doing the gods work !!fk the scams.

[sochbichar]

Awesome work, Marco! I hope all the survivors/victims see your vids and file reports! Doing the gods work !! There is one more World Financial Group guy in Canada who has been quite bursting in the scene especially in the Nepali/Indian ethnicity group. Would you like to debate/ talk with him?

[kafeelmohammad]

Need you to defeat ACN it’s taking over my area in London

[Shot]

Wow Marco this is amazing. I really hope there is an impact from this.

[Farlotatte]

Can someone please explain to me how is wfg a scam I just keep seeing videos of it being a scam but no one elaborates on why it is a scam or how it is a scam

[tbdvlogs]

I was approached by someone that works in WFG they have good points of why to join but then I saw this video so what’s the cons of joining or why I shouldn’t join ? And if not this company which ones would be good ones to look at to join ?

[bugerang]

WFG? You mean whack financial group? Let’s marcooo

[rachelybatista]

Seriously, I got a question for you: Why would the government give licences from the AMF (autorités des marchés financiers) to Wfg agent? Do you really think that the government would give legal licences to a pyramid scheme? What about AEGON and TransAmerica, are you aware of those Holdings cies? Seriously what's your real purpose? Ask yourself the right questions, get a lawyer and do the right thing.

[Gatos]

But I want the blue jacket like Hartej

[RiruKrypto_]

Where was this when one of my classmates tried to invite me? 😢 I actually made him spent money on this honestly felt bad but I felt so much pressure to join.