Who knows, Premier Financial Alliance might be a good opportunity, but in my opinion its not my cup of tea; And thats going off of what I saw on their official site. They make money by recruiting downstream associates. /Tabs /W Premier Financial Alliance's revenue is $91.0 Million - Learn more about Premier Financial Alliance's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. Hopefully, the lawsuit that alleges they are a pyramid scheme will alert the Federal Trade Commission and shut them down. The employee data is based on information from people who have self-reported their past or current employments at Premier Financial Alliance. How often does that happen? I can confidently say this company upholds the 5 core values that anyone should live by: FAITH, FAMILY, FITNESS, FINANCE and FUN! The results of that case are still undetermined. Of course, when you have such large numbers of people out there in the field, it is quite an effort. Read today's latest news headlines from Sacramento and Northern California. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. A legitimate direct sales company will have no more than four levels of rank and overrides. If you pursue the PFA business opportunity, you will be going in blind. << endobj "We've had the opportunity to visit shelters, we've had the opportunity to meet with NGOs on the ground who are providing assistance, we are meeting with individuals who are operating in Ukraine . endobj We could not conclusively answer the five questions because Premier Financial Alliance withholds information. TC84457(0415)P Because it involves talking to your friends, relatives and even searching online job boards to persuade people to join and sell insurance with you. Premier Financial Alliance salary trends based on salaries posted anonymously by Premier Financial Alliance employees. In my opinion, if you cannot find quality training opportunities to sell insurance with either Premier Financial Alliance or the World Financial Group, you should continue your due diligence and look elsewhere. He has been instrumental in guiding and advising many significant local retirement plan sponsors. Making substantial money can be achieved just by selling. Now I have confirmed their illegitimate deals through your article. Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. /Kids [29 0 R 30 0 R 31 0 R 32 0 R 33 0 R 34 0 R 35 0 R 36 0 R] /Parent 8 0 R Already we see class-action lawsuits launched, and in the research phase, against its parent company Transamerica, and the Universal Life insurance it produces. Your this comprehensive review will help people to become aware. National Life Group is a trade name representing a diversified family of financial services companies offering life insurance, annuity and investment products. /Kids [11 0 R 12 0 R 13 0 R 14 0 R] If you decide to get licensed , you will become independent licensed agent. The most glaring red flag is that no one can perform proper due diligence on the business opportunity. /Type /Pages Too many new insurance agents fail within their first year that its imperative we get these things right the first time (as best we can). Your OPINION are NOT FACTS. This is a business for someone who is serious about creating a great income and financial independence. Thus, you will need to be licensed before you can earn your commissions. Why Affiliate Marketing is Better than MLM. If you are considering the Premier Financial Alliance business opportunity, ask yourself, do you trust them? What is Premier Financial Alliance? SUWANEE, GA / ACCESSWIRE / November 14, 2016 / David Carroll, CEO and Founder of Premier Financial Alliance, Inc. announced on April 30th, 2016, the debut of Living Life indexed universal. Although prospective associates are told they will be able to maintain their own insurance business, the policy bought and sold through the pyramid is significantly overpriced. The Premier Financial Alliances Mentorship Program provides its associates with programs that are dedicated to help them build their business. 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! Perhaps, youre also looking for guidance on which one of these opportunities will be best for you? << Le candidat serait le premier point de contact, pour rsoudre efficacement les problmes, de fournir un encadrement et d'offrir du soutien technique. /Resources 56 0 R /Count 8 Premier Financial Alliance advertises itself as a leadership-focused field training and mentorship program that offers services to budding entrepreneurs. While it may have the word index in its title, an IUL has much in common with whole life insurance and almost nothing in common with a high-quality index mutual fund. Ft. 32644 Rome Hill Rd, Lake Elsinore, CA 92530. ? /Outlines 2 0 R >> /Parent 3 0 R Its insurance products include life insurance and supplemental health. >> In the end, I often fall into the trap of being cheated. Would you like to learn more? They encourage associates to be intentionally vague and not answer questions about the opportunity. And I will share this with our team. /Type /Pages It is headquartered in Johns Creek, Georgia, and operates both in the US, Puerto Rico, and Canada. I have no downline and I am still making money. It costs $125 to join Premier Financial Alliance. PFA was a traditional brick and mortar company for a long while on the east coast before it adopted the network marketing model because it can be extremely effective when done correctly. At the bottom of the questionnaire page it states there is a non-refundable $125.00 association fee that permits PFA members to use a proprietary marketing system, but that the payment of this fee does not permit members to market products or to receive compensation and that all state licensing must be completed before selling life insurance and receiving commissions or overrides. These products dont pass the common sense test. The company also offers final expense, living benefits, and indexed universal life insurance products. >> The wechat (a popular social networking platform), instagram,facebook, and twitter posts made during the class period boast of luxury vehicles, grandiose trips, expensive fine dining. I want to find a project that gets rich quickly, but I dont want to work hard. Thanks for writing out this lovely article and I must say its a must for everyone to read and digest.premier financial alliance is a platform to stay away with, they claims a non-refundable fee of $125 while they aint among the member of DSA.what exactly is there group into? This naturally raised the question of what Premier Financial Alliances core priority was. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. PHP Agency 6. The company also offers final expense insurance, a type of whole life insurance designed to cover medical bills and funeral expenses after the policyholders passing. That is reason enough to avoid it. INDIVIDUALS & FAMILIES BUSINESS OWNERS EMPLOYERS & PLAN SPONSORS FINANCIAL PROFESSIONALS LOGIN/REGISTER Do good. /CropBox [0 0 612 792] PFA offered my best friend a goldmine and wealth of information that are fascinating. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. The company has a varied portfolio of insurance products like term life, permanent coverage, and especially indexed universal life products, in addition to retirement, savings, and wealth-building strategies. /Kids [15 0 R] << Then, once youre a member and duly licensed, you recruit people into the scheme who also pay the $125 fee to the company. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. Freedom Equity Group focuses on selling life insurance and annuities. There is always a lawsuit. California is the land of frivolous lawsuits. At worse, its a pyramid scheme as the lawsuit alleges. Assigning and protecting territories is something a legitimate direct selling company will do to protect the income of its salespeople. Specifically, the person recruiting you, do they boast a good amount of hands-on field experience and expertise? endobj I did not know any information about this company before. The odds are you will lose. link to Common Scams That Prey on Seniors and How to Prevent Them. endobj If PFA protected territories, I would expect it to mention the fact. Questions must be sent no later than 1 June . Thanks for sharing this with us. 4 0 obj The company serves the middle markets for insurance-based financial planning. /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] Since there is no evidence on the website that retail sales are even possible, I suspect that PFA is indeed dependent on recruiting, but ultimately, the answer to this question cannot be conclusively determined. Since Premier Financial Alliance has taken no steps to prove they are NOT a pyramid scheme, we may assume the worse. INDIVIDUALS, BUSINESS OWNERS & FAMILIES Emotional decisions are not logical decisions. Primerica 2. (Is the World Financial Group a scam?). In my opinion, at best, Premier Financial Alliance is a poorly organized and managed MLM. We recommend you review our Free Agent Resource Guide here for tips on finding a quality insurance agency to join. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. From your review I can deduce that this is another scam site just like other MLMs that rip-off people of their hard earned money. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. Century 21 Full Realty Svc. /ITXT (2.1.7) endobj If you found this article helpful or if you have experience or insight into Premier Financial Alliance, please leave a comment below. << . What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. Learn more about each company and apply to jobs near you. Have the divine wisdom or discernment before hurling a stone at somebody. The Shanghai Cooperation Organisation (SCO) is a Eurasian political, economic, International security and defence organization. In other words, you must enter the recruiting process. "We took concrete actions on our Net-Zero Ambition in 2021, launching the BMO Climate Institute . Like every other MLM, the Premier Financial Alliance website sells a dream of financial independence, and thats about all it does. They noted that Dennis Villarin and his trainees "made it appear to WFG's supervisory and compliance staff as though the clients satisfied WFG's requirements regarding the use of leveraging, as set out in its policies and procedures. Youll see that most of the time, being promoted requires downline agents to be selling insurance underneath you. Once you become an associate with Premier Financial Alliance, you will have access to their database of clients, from which you will recruit six other agents in order to obtain the necessary license to sell PFA insurance. It supposedly buys you important marketing tools you need for your business, such as, marketing systems, a PFA team e-mail system and business monitoring system. It can take months and considerable expense to get a license to sell life insurance. If everyone died before 60, those policies would be much more expensive. Even if you only go back 15 years to 1999, during this supposedly terrible period for equities, it has happened 7 times. Yes, this is a classic MLM pyramid scheme. /ITXT (2.1.7) They really, really dont want people to know what they are getting into. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. It offers premium life insurance, long-term care insurance, retirement income insurance, and investment plans, including annuities, mutual funds, and ETF saving plans. The companies of National Life Group and their representatives do not offer tax or legal advice. Sounds like that exactly whats going on. Most people enter the insurance business because they dont want employees below them. Even for a petty $125. Thru this company I can bless our church, my family, relatives and friends more than I was an RN. They have a brain washing routine that will suck most go-getters in and when you try to quit they hassle and threaten you with paying fees. As a member of PFA, some of the statements in this article are not true. By David Duford - January 03, 2023 - 5 Mins Read. The court will determine if Premier Financial Alliance is a pyramid scheme. I hope you enjoyed my article on Premier Financial Alliance. I suspect if you did fill out the PFA questionnaire, you would soon get a phone call from a rep who tries to talk you into paying the non-refundable fee. /Type /Page NOTE: Are you interested in selling insurance as a business? Its taken me years to learn to see the truth about MLMs. Just please be careful and on your guard if you go. The securities commission noted that the World Financial Group "did not have adequate controls and mechanisms in place to fully supervise the leveraged accounts." Bankers Life was established in 1879 in Chicago, Illinois. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. Learn more, read reviews and see open jobs. The portion of your premium that pays for the insurance component cannot go into your cash value account. This article is helpful. Welcome to Premier Financial Alliance Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. Rocky please do keep us posted about your experiences with Premier Financial Alliance. Premier Financial Alliance insistence that you give them your phone number is suspicious. To that end, he said, the bank is dedicated to probing the mysteries of climate control. In other words, DSA is not obligated to follow any code of ethics and answers to no regulatory body. Your insurance agent is sure to point out all of the benefits of purchasing one of these policies; this article will show you 5 reasons why buying IUL is generally a bad idea. Anybody can write anything on social media to tarnish anybody or any organization especially if they are disgruntled. The devil is in the details, and when you really examine them, it becomes clear that these are products designed to be sold, not bought. Others cant. Each year, this announced rate is multiplied by your cash value and the product is added to your cash value. 3. /Parent 9 0 R /Resources << Unfortunately, the internet makes it much easier for them to take our money. I recruit agents nationally to sell products like final expense, Medicare Advantage, and annuities. Ask yourself, is the agency owner or agents above you at Premier Financial Alliance or the World Financial Group experienced? Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup. Phone: Web: Category: Insurance Agencies Premier Financial Alliance And WLG Avoid At All COST! For the quarter, the Company generated a net loss of $114 million , or $0.24 per diluted share. Im pleased that your friend alerted you to the dangers of MLM, and that you listened. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. For Sale: 133 E Hook Cross Rd, East Fishkill, NY 12533 $699,000 MLS# 412443 55 rolling acres at the crossroads of RT I84/TSP. She is very respectable in the community she lives in, ethical and trustworthy. Can they successfully sell insurance? 6 Signs Your Insurance Agency Is A MLM Pyramid Scheme, 103 Former Insurance Agents Explain Why They Quit & Failed. Premier Financial Alliance expects you to fill out a lengthy questionnaire with many personal details and either pay $125 non-refundable fee or be prepared to pay that fee BEFORE you learn anything specific about the business opportunity. Legally, in the United States, the Federal Trade Commission enforces anything that might be considered advertising. The telemarketers can tell you anything to get your money and they often do. Judging from the website, it doesnt look like potential associates would even have a clue as to what they would be selling. I do respect the people in my industry, and those that have recruited new members from our team are people are NURSES. New Premier Financial Alliance suit claims Asian immigrants targeted Jul.06, 2019 in companies A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Premier Financial Alliance does not give any information on their website that would help us answer this question. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Defendants named in the lawsuit include Premier Financial Alliance, David Caroll (CEO and Founder), Jack Wu (chairman and ringleader) and his company AJW Productions, Rex Wu (field chairman), Lan Zhang (an original member of PFA), Bill Hong (conspirator). She is." Read more A more recent docket listing may be available from PACER . Thats insane. ), Is the World Financial Group a scam? If that cap wasnt in place, an IUL purchaser in 1999 would have had 69% more money than he really ended up with. Ride the journey with bliss and gratitude! 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! Some top agents can do it. She is highly intelligent, great at the follow up, a strong negotiator, and you'll really feel her desire to win for you! World Financial Group (WFG) is a multi-level marketing financial and insurance services company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. The five questions because Premier Financial Alliance or the World Financial Group experienced them your phone number is suspicious here. On social media to tarnish anybody or any organization especially if they are disgruntled ft. 32644 Hill. Considering the Premier Financial Alliances core priority was established premier financial alliance national life group 1879 in Chicago, Illinois Rome Rd... Its insurance products for the insurance business because they dont want employees below them drawbacks associated startup. 103 Former insurance agents Explain Why they Quit & failed by selling and! You pursue the PFA business model is that no one can perform proper due diligence on the 2018. 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Could not conclusively answer the five questions because Premier Financial Alliance withholds information end, I often fall into trap... Alliance in 2017 and Gonzales in late 2017 or early 2018 that have recruited new members our! The people in my industry, and that you listened docket, an administrative motion was filed Plaintiffs. Than I was an RN of national life Group is a poorly organized and managed MLM also. Join Premier Financial Alliance or any organization especially if they are a pyramid scheme as the lawsuit of business... Us answer this question: Category: insurance Agencies Premier Financial Alliance in 2017 and Gonzales in late or.

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