These products dont pass the common sense test. Hopefully, the lawsuit that alleges they are a pyramid scheme will alert the Federal Trade Commission and shut them down. Its really tragic. We could not conclusively answer the five questions because Premier Financial Alliance withholds information. Anybody can write anything on social media to tarnish anybody or any organization especially if they are disgruntled. It is wholly owned by Dutch life insurance multinational Aegon and operates primarily under the . 14 0 obj American Income Life, a wholly owned subsidiary of Globe Life Insurance, is a major provider of supplemental life insurance. The less you understand, the more likely you are to be disappointed when you eventually compare the steak to the sizzle you were sold. I just started selling after I was trained (for free) on the PFA system. The caveat is, is that you have to make money to pay it. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. 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. Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup. Wang and Zong, both New Jersey residents, claim Premier Financial Alliance is a pyramid scheme they were lured into. You can bet they will use this control to maximize THEIR profits at your expense. They didn't want to deal with customer complaints and were too busy recruiting other associates so they could make their pyramid fees. The plaintiffs were given permission to file an amended complaint by August 2nd. These policies are likely to provide a return very similar to that of whole life insurance (with the possibility of much worse performance), which is easily seen to be in the 2% to 5% range long term for a policy bought today and held for life. Millions of Americans provide care to loved ones who are aging or have special needs, many of whom have nowhere to turn for support and caregiver relief. That means you work for free. 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? /PageMode /UseNone Nearby homes similar to 34870 Arroyo Rd have recently sold between $450K to $450K at an average of $315 per square foot. /Contents [50 0 R 50 0 R 51 0 R 52 0 R 53 0 R 54 0 R] NOTE: Are you interested in selling insurance as a business? Youll see that most of the time, being promoted requires downline agents to be selling insurance underneath you. The $125 membership fee is refundable within the 1st 10 days of signing up. They are dismaying the dream of hundreds of people by dreaming of achieving economic independence. Thanks for this article. Would you like to learn more? It is the world's largest regional organization in terms of geographic scope and population, covering approximately 60% of the area of Eurasia, 40% of the world population, and more than 30% of global GDP.. That is not the way to start a business. Premier Financial Alliance advertises itself as a leadership-focused field training and mentorship program that offers services to budding entrepreneurs. WFG agents are typically very high-pressure salespeople and recruiters who push hard to get you to pay $100--$130 to sign up and commit to an onerous restrictive contract (WFG's AMA) and also to extract from you the names and contact info of your friends and family so they can recruit them too. Once I gave them my credit card, they started charging increasing monthly fees. The company structure is not a traditional one thats why I understand people jump to conclusion and called it SCAM or PYRAMID. PLYMOUTH MEETING, PA [March 1, 2023] The National Comprehensive Cancer Network (NCCN) today announced the NCCN 2023 Annual Conference will debut. The company have a system to do that. The SCO is the successor to the Shanghai Five, formed in 1996 . The more complex the policy, the less likely you are to really understand how it will work in the future. The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. The companies of National Life Group and their representatives do not offer tax or legal advice. None of the information on this page has been provided or approved by Premier Financial Alliance. SMH. Why Affiliate Marketing is Better than MLM. There is no information on the Premier Financial Alliance website about overrides or commissions. The company offers education, training, and mentorship programs to agents, all of which provide them with the necessary tools to help them build their business. I was an RN for 37 years and at the time the platform was introduced to me I had 2 nursing jobs. Copyright Duford Insurance Group 2014-2022 /Kids [11 0 R 12 0 R 13 0 R 14 0 R] Check out myfree New Insurance Agent Resource Guideto help answer many of your questions (as well as ones you didnt know you had!). Digital Neuro Marketing crypto,NFTs, Metaverse,iGaming Detective ><br>Unlocking Growth with Neuro Marketing, Neuro Design and Psychology in NFTs, Metaverse, crypto, Sports Betting, Casino & iGaming. The good news is, quitting Premier Financial Alliance is easy. The lawsuit filed in California alleges that success with PFA is completely dependent on recruitment. BehindMLMreviewed Premier Financial Alliancein 2016. Taking care of your National Life Group-Premier Financial Alliance can help you plan for a comfortable retirement with steady permanent life insurance and annuities in Life Insurance Agent Certified Field Trainer Lic# 395364, "Libby is the kind of business person you want to work with. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. Multi-level marketing companies that are members of the Direct Selling Association must make available to all prospects an Earning Disclosure Statement. The truth is , these companies make money from their victims without nothing to give back. Sinclair Broadcast Group today announced the company will partner with The National Alliance on Mental Illness (NAMI) to launch Sinclair Cares: Mental Health Support + Hope, a campaign to encourage mental health awareness, with a focus on young adults.The campaign will begin on March 6 and run throughout the month. National Life Group is a trade name representing a diversified family of financial services companies offering life insurance, annuity and investment products. It starts with a look at the companys Earning Disclosure Statement. There is no way to know what a person is getting into when they visit the Premier Financial Alliance website. Assigning and protecting territories is something a legitimate direct selling company will do to protect the income of its salespeople. C2820332, that currently does business at 8000 Marina Blvd., Ste. Freedom Equity Group focuses on selling life insurance and annuities. It may be prudent to wait for the verdict on the companys policies. They make money by recruiting downstream associates. The court will determine if Premier Financial Alliance is a pyramid scheme. The PFA questionnaire clearly states at the top that all fields must be completed. The employee data is based on information from people who have self-reported their past or current employments at Premier Financial Alliance. /MediaBox [0 0 612 792] If a highly-trained sales force is the only way to sell something, buyers should probably wonder why. (What is the World Financial Group? Just like any small business owner, you will need to work hard to earn your earnings but you get to keep your clients when you decide to leave PFA. Privileged to live & work across lands that have supported the oldest civilisation on earth; Darkinjung, Gadigal, Ngunnawal, Noongar, & Wurundjeri. WFG Securities (Canada) was under investigation by the Manitoba Securities Commission in 2008, after some investors say they ended up in financial situations they did not understand regarding leveraged accounts. 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. Thats like putting your money on the table and rolling the dice. After paying the $125 non-refundable fee AND getting a license to sell life insurance, PFA members can recruit others into the scheme. 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. Yes, it is a scam. National Life Group Insurance Company is a Texas company responsible for "pandering" the defendants' insurance products to those who participate in the scheme. 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. But, when you step into an agency building role, this is exactly what you get, which leads us straight into another big problemthe quality of training. Any time a company tries to make you feel greedy for their opportunity but hides the details, its suspicious. She is an inspiration to many! Be good. A member can earn a respectable income with only selling the products of a legitimate direct selling company and never have to recruit. The opportunity enabled me to quit nursing after 2 years. First, consider your own situation. Premier Financial Alliance website claims to be an innovative leader in the financial services industry and to have helped thousands of people to live their dreams and achieve financial freedom. 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. USHEALTH Advisors is a wholly-owned national sales and distribution subsidiary of USHEALTH Group, one of the largest employers of health insurance agents in the United States. 4 0 obj Thru this company I can bless our church, my family, relatives and friends more than I was an RN. It's an unfortunate reality that scammers prey on elderly people in order to steal their money and/or identity. 11 0 obj Once you reach this point, you generally no longer have a need for life insurance. I do respect the people in my industry, and those that have recruited new members from our team are people are NURSES. Freedom Equity Group 7. Lan Zhang appears to be a top Premier Financial Alliance affiliate. In a single month, Premier Financial Alliance normally makes close to $7.6M in revenue. This naturally raised the question of what Premier Financial Alliances core priority was. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. By David Duford - January 03, 2023 - 5 Mins Read. Arnold & Porter Offices After reading this great review, we got to know about their activities. /Pages 3 0 R 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. The company is headquartered in Suwanee, Georgia. Premier Financial Alliance's Annual Revenue, Premier Financial Alliance Similar Companies, Insurance Center Of New England, Inc. Revenue, Gwinnett County Board of Education Revenue, Insurance Center Of New England, Inc. NATIONAL LIFE GROUP INSURANCE CO., a Texas Corporation, AJWPRODUCTION, LLC, a California Limited Liabilit Company, and DOES 1-10, Defendants. Current Employee - Compliance Professional. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. /Type /Pages Those who sell these commissioned products are highly trained, but not in finance. Premier Financial Alliance and all MLMs are birds of a feather. This blog has been revealing and alerting us about scanners. 6 Signs Your Insurance Agency Is A MLM Pyramid Scheme, 103 Former Insurance Agents Explain Why They Quit & Failed. << I was paid commission on my first sale which more than paid for my outlay. Premier Financial Alliance instructed Plaintiffs and continues to instruct other associates to peddle this policy to other people who, in turn, are instructed to sign up more associates, and so on and so on, ad infinitum. /Type /Outlines Or message me here. Kosmos announced today its financial and operating results for the fourth quarter of 2022. /Outlines 2 0 R Follow state politics, local business, crime, sports, environment and community news. endobj >> She is." Read more PFA is broker for Life Insurance Companies. June 2018:A class-action lawsuitwas filed against California-based company Premier Financial Alliance, along with its founder and several top promoters and National Life Group Insurance, for allegedly operating an illegal pyramid scheme. Menu Home; Rankings. The termination usually needs to be filed within a 30 day window, however canceling affiliation is not always mandatory. I have recently been a victim in a so call pyramid scheme, its amazing the way their staff are trained on phone conversation to lure you to joining and making upfront payment, that was exactly what I did and later realised they were complete scammers. All you need is right mentorship and training which are both provided by the company for FREE! 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