Is WFG a SCAM? World Financial Group Review

Is World Financial Group (WFG) a Scam or Legit? Watch this World Financial Group (WFG) Review to find out.

Have you been either approached to buy a World Financial Group (WFG) investment or insurance product, or to start working for WFG as a financial advisor?

You might be curious but may also be wondering: Is World Financial Group a scam? You’ve probably heard whispers about this from other friends or colleagues warning you that WFG is a scam, or a pyramid scheme. It has a multi-level-marketing, or MLM approach to acquiring new associates, which is what turns many people off from WFG.

In the finance industry where I had worked for over a decade, World Financial Group doesn’t get a lot of respect amongst its peers. I'll go over whether World Financial Group is a scam, and the World Financial Group compensation plan.

WFG requires close examination to determine if it's a scam or legit. Let's take a closer look!

✅ Check out the written article about this video:

--------------------------- 🇨🇦CANADIAN OFFERS & PROMOS--------------------------------
✅ Get free life insurance quotes from several companies:

💳 Get a FREE credit score check at Borrowell:

🏦 My favourite High-Interest Savings Account is EQ Bank

🤖 Get $10,000 managed for free at this top robo-advisor

📈 Get $50 worth of free stock trades with Questrade

--------------------------- WEALTH AWESOME BLOG--------------------------------

Read about how I quit my 6-figure job 📗

[mikenels]

i think its all dependant on leadership within any organization. I do work at wfg part time. i Make a decent income nothing crazy. But the support and mentorship i recieve from my leaders is second to none. ive double my income in my full time career from the associations with the firm. It's like any other company end of the day. there are some amazing agents out there. but there are alot of bad people as well. meeting the right person in any company can change your life.

[sonalagarwal]

The system in WFG is nothing but a process you follow to build a brokerage firm. Think of McDonald's, if you buy a Mcdonald's franchise, they have a system or process you need to follow to make burgers, drinks, etc.

WFG does not have its own products, they market products from different financial institutions like BMO, IA Financial, etc. WFG is a financial distributor which gives customers more options to select from products from many different financial institutions based on their need.

You tell me one thing, which business is without commission if you buy a car the car dealer gets a commission, if you buy a house the realtor gets a commission if you buy insurance from any other brokerage firm they earn a commission. So if the agent in WFG get some money from the sale it's called commission for her/ her service to the customer.

[sherylannejacobs]

you are 100% correct. I have a brother who has been with WFG for 25 years. He was in the right place at the right time when Humprey lost his licenses from the SEC. My brother and a couple other guys were at the top level when Trans, , , , insurance bought out Humphrey. All they do is recruit every day, every hour.

[NS-smdr]

Some people are successful in it, but me I had to quit because I felt trapped. In the beginning they hide a lot of info from you, and it is in the middle of the process that I found out this wasn't for me because I am not great at lying

[eurasian]

I literally just got off a zoom meeting with wfg. I'm not into selling or networking. Thank you for this

[djr]

The truth is most life insurance companies will make you make a list of names to sell to. MassMutual, new York life, northwestern mutual, western and southern, prudential, and more will make you list 100 or 200 names BEFORE you get a contract or job offer with them. Not defending wfg, but this is a common practice.

[silentmajority]

MLMs have been repackaged numerous times over the decades .. the same type of people fall for it… We attended a college friend’s wedding anniversary party, they quickly started chanting.. it was weird and sad…

[MidgieTheCat]

I...think you buttoned your shirt one-button-off, all the way down.

[brandonbanda]

With any business, you get out of it what you put into it. Most people want to be compensated for their time and put minimal effort . That is why the top 5% have 95% of the wealth. Through Quantity, you find QUALITY people who can change their life and the lives of others. Bottom line is everyone needs the products and services, and working in the warm market saves millions in advertising expenses. I've talked to other agents who make hundreds of calls just to get a handful of appointments. The building and compensation model is second to none.

Also the commission percentages are way off, top contract is much higher than what you mentioned but the biggest benefit is that it is a builders contract in which you get to override you agency for life. Thank you for the video and giving an unbiased opinion.

[ctashishar]

Thank you for making this video. I was in an MLM business for couple of years and then I quit. WFG has the same model, therefore I stay away. It is a trap. Your success depends on your down lines. Everything you said is honestly true. 🙏

[TamunoOpuboCooksCookeyGam]

I like the bait and switch you did here. You started all respectful of the company and then delivered killer blows left and right with your analysis & commentary. Nice! Too bad that 2 friends are in WFG. They are young professionals so are thankfully not in debt but the life insurance policy they signed up for is demonstrably ridiculous and a complete waste in my opinion.

[eliesabbagh]

100% agree. every person you know becomes a potential client in your head. Their mission is to plan seeds in peoples heads to try to make them buy something or have them recruited.

[TK-jbvq]

That was my experience with WFG, pushing those million dollar IULs because that gets them a large commission. Their "financial education" they claim to offer is nothing more than 'mindset' training to get you to become an agent to get them commissions off all your sales.

[aeolian]

They told me to attend one of their free courses, when I introduced myself I stated " hello, I'm excited to learn about financial freedom and Being a free course I'm expecting not be sold anything or joining any group"
You can imagine how that went

[robertbanipay]

I wish I have your confidence. I got duped $7, 000.00 by a Filipino couple from Bolingbrook, Illinois. WFG said I cannot get my money back because I could have been paid full insurance during the time I had the policy.

There is a reason why they turn off comments in their official Youtube channel.

[bulletfgh]

If you have never truly used the platform you should generalize your approach on speaking about the platform. Their are 80 different companies on the platform to use, no one is forced to recruit its just incentivized, contract level starts at 35% and not all associates on the platform are advisors but you can use the platform to complete all certifications in finance. The platform gives you discounts on all training material and it’s courses. Not all the products especially the insurance products are meant for everyone. It is true most agents are not trained but that can be said about all financial companies. Recorded average income for license agents using this platform is $50k a year. You choose how to use your license and the information you possess. Take care of people and your community and in return good things will come to you.

[Jojo-cwzh]

Anyone who encounters this comment, please ask yourself this. Who is a more reliable resource of accurate, unbiased, factual-based information: Chris who has his CFA (Charter Financial Analyst) designation and former financial advisor or all of these other commenters who aren’t legally allowed to call themselves a financial advisor? This was highly informative and I appreciate you for shedding light into this issue Chris

[mikecostello]

Right on, my daughters boyfriend and her got involved in this. I attended a training session with her and their partner. Only knowing what little she told me I learned more from this session then they did of mine. I am concerned and not a player. Great review.

[wevolt]

Every business you start, the first step you take is Recruiting. Without recruiting you can't build your business and that is what we do in WFG, we help families save and earn money. We only educate people and just to tell you about salesman, If you are working anywhere, you are a salesman for that company and you are working under that company but WFG gives you a chance to build a Business and help families save money. OUR MOTTO IS NO FAMILY LEFT BEHIND

[kathycarter]

My friend invited me to a WFG zoom call. She's pretty excited, but I told her I needed to do a little digging. I'm glad I did. What you said makes a lot of sense. I know my friend is very excited about joining, but I'll share your video with her anyway. Thanks!