Hope this helps. Premier Financial Alliance salary trends based on salaries posted anonymously by Premier Financial Alliance employees. This is a great product review with lots of important information about the premier financial alliance. endobj I was told to get five dowlines and it goes on and on . Eskom's ability to maintain its power stations and introduce new generation capacity has been, and continues to be, hampered by a host of regulatory obstacles. /Filter /FlateDecode Premier Financial Alliance makes $249,315 in a day. endobj /Resources << If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Can You Trust Premier Financial Alliance? Would you like to learn more? If youre stuck and bitter about paying $125 then you gotta move on and do something else. It creates several levels, so money is gathered across a wide base and funneled to a few people at the top who had nothing to do with the sale. /Parent 3 0 R Without a thorough analysis of the opportunity, it would be foolish to get involved with Premier Financial Alliance. 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.. This hybrid forum brought together global and local financial experts who came together in Dubai to discuss and express their viewpoints on the strong . Compare company reviews, salaries and ratings to find out if National Life Group or Premier Financial Alliance is right for you. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. American Income Lifes core markets are labor unions, credit unions, and associations for insurance solicitation. Ultimately, it doesnt matter if PFA is a pyramid scheme or not. Your article is helpful. Unfortunately, what you wont find on the PFA website is specific information that will help you determine what the business opportunity is or if its right for you. Stated aims of the class-action include establishing. Hence, this is not a scam. They promise the freedom to be your own boss and earn a high residual income. However, it does show that the company is at least paying lip service to a code of ethics. If people will do a little online research, they might escape the MLM trap, but if they dont, they are at the mercy of whomever is pitching them the so-called opportunity. The PFA questionnaire clearly states at the top that all fields must be completed. << They encourage associates to be intentionally vague and not answer questions about the opportunity. At least on one level, it appears that the immediate goal of the Premier Financial Alliance website is to get people to fill out the questionnaire. Living Beneits Advocate (Current Employee) - Remote - September 30, 2022 Because Premier Financial Alliance is so poorly managed, its a little easier to see the holes in their operation, but most MLMs are much more sophisticated. To become properly appointed with the new insurance carrier or agency, you simply complete contracting with the new insurance carrier. A member can earn a respectable income with only selling the products of a legitimate direct selling company and never have to recruit. Both the focus on recruiting agents rather than immediate sales as well as the non-refundable $125 signing fee are red flags for those worried that the insurance vendor they work for is a pyramid scheme. Those who sell these commissioned products are highly trained, but not in finance. World Financial Group is a Transamerica-owned company that sells financial planning services, such as savings, insurance, and retirement products. Premier Financial Alliance peak revenue was $91.0M in 2021. No tangible Information on their website. endobj These products dont pass the common sense test. By keeping so many secrets, PFA has full control. 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. PFA doesnt sell a product. To those who would totally believe that PFA is a scam. For more details on what I write, please go here: What is the World Financial Group? At the hearing defendants Life Insurance Company of the Southwest, National Life Insurance Company, NLV Financial Corporation and National Life Holding Company were granted a motion to dismiss. >> Primerica 2. As you mentioned, they often have highly motivated professional sales people ready to talk us out of our money. /Outlines 2 0 R It happens more often than not. /Kids [15 0 R] None of the information on this page has been provided or approved by Premier Financial Alliance. In a whole life policy, the insurance company determines the dividend rate. Commission increases are dependent on agency building, higher levels of recruiting, and production. Assigning and protecting territories is something a legitimate direct selling company will do to protect the income of its salespeople. Thanks for sharing this with us. 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. In April 2010, WGS was fined in excess of $850,000 as the result of the unauthorized sale of private securities by some of its agents in the State of Arizona. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. That amount is utilized to maintain our individual agent portal. Thank you. This is something to digest and learn from, lots have fallen victim and many more are on their way to the traps. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. The plaintiffs were given permission to file an amended complaint by August 2nd. The quality of experience, training, and skill lessons over time. It starts with a look at the companys Earning Disclosure Statement. However, we do know that the plaintiff's lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. The motion sough to relate the 2018 and 2019 cases, and was granted on March 26th. Presented by Sydney Opera House in association with Hachette Australia and NSW Premier's Reading Challenge, Department of Education . ", "Libby leads by example. This article should be an eye opener to online marketers newbies. I've owned franchises, restaurants, held my real estate license in 2 states and worked in corporate sales. >> 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). 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. National Life is a financially sound life insurance provider that offers a variety of policies and riders, including some unique options, and pays dividends on participating policies. The company is focused on providing healthcare solutions to individuals and families, as well as self-employed and small business owners. 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. 5 0 obj Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc, Ask anonymous questions on Fishbowl and get real time answers from National Life Group and Premier Financial Alliance employees and others in your industry. The lawsuit specifically alleges that members of PFA earn commissions solely by recruiting new members and not by retailing insurance to non-members. /Font << With an MLM that is a member of the Direct Sellers Association, the answers to these questions can be found in the Earning Disclosure Statement and the Compensation Plan. This is called financial independence. The caveat is, is that you have to make money to pay it. whether Defendants are operating an endless chain; whether Defendants omitted to inform the Plaintiff and the plaintiff class that they were entering into an illegal scheme where an overwhelming number of participants lose money; whether PFAs statements of income during the Class Period were deceptive and misleading; whether PFAs conduct constitutes an unlawful, unfair and/or deceptive trade practice under California state law; whether PFAs conduct constitutes unfair competition under California state law; whether PFAs conduct constitutes false advertising under California state law and; whether the Defendants violated the Department of Insurance Guidelines in representing the benefits under a policy and/or underwriting. Each year, this announced rate is multiplied by your cash value and the product is added to your cash value. Also, check out my Agent Success Stories and my best-selling insurance sales books. If PFA protected territories, I would expect it to mention the fact. 30+ Hours Insurance Sales Training, Scripts, Books, And More Yours FREE! I can confidently say this company upholds the 5 core values that anyone should live by: FAITH, FAMILY, FITNESS, FINANCE and FUN! Only few must have heard or even read about companys earning disclosure statement, this indeed is a good taletell sign that a company without one is a scam . endobj And then, because you have a life insurance license you are required to have Errors and Omissions insurance to the tune of 40.00 a month. The basic premise is that when the stock market goes down, youre guaranteed a crediting rate of zero to 3%. Premier Financial Alliance and all MLMs are birds of a feather. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. << That process can take days or weeks depending on the information received.Lastly, your agent will contact you and go over the results of your underwriting and details of your policy. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. 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. Taking care of your financial needs may not be top of mind. 8 0 obj The companies of National Life Group and their representatives do not offer tax or legal advice. 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. Premier Financial Alliance specializes in helping people become partners in a large business network in order to build their own financial services business. She works hard to achieve the leadership position shes in now. Now I have confirmed their illegitimate deals through your article. >> Read Why Affiliate Marketing is Better than MLM. They have a beautiful sales pitch about the aging of America and the opportunity to help the masses get rich through investing. It can take months and considerable expense to get a license to sell life insurance. While guarantees are always nice, you dont want to overpay for them. I am glad the way youve exposed all the atrocities of these fraudulent companies by listing all the taletell signs. iA Financial Group (Industrial Alliance) Qubec, Quebec, Canada 18 minutes ago Be among the first 25 applicants See who iA Financial Group (Industrial Alliance) has hired for this role That usually corresponds to four levels of management such as local, state, regional and national. No clue. Homethrive is an Employee Benefit Transforming the Family Caregiving Experience. 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. Phone conversations are not regulated. What I saw while I was there was that they treated their customers in the same way they treated me. If Premier Financial Alliance is indeed an MLM company full of affiliates earning commissions based on how much their recruited downlines are spending each month thats a problem. The questionnaire on the PFA website certainly raises the assumption that Premier Financial Alliance is dependent on recruitment. Its insurance products include life insurance and supplemental health. But here I started making good earnings after a month of passing the licensing exam. They focus on recruits, tell you time and again you can work part time. The opportunity enabled me to quit nursing after 2 years. I was an RN for 37 years and at the time the platform was introduced to me I had 2 nursing jobs. 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. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). >> "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 . A California lawsuit alleging that Premier Financial Alliance is a pyramid scheme also states that commissions are earned on the sale of over-priced life insurance and that money is made by recruiting others into the scheme and selling them the same over-priced life insurance. The more the insurance costs, the less youll have in the cash value account. It takes time and learning how to work within the system and the ability to be mentored. For example: this evening we just learned about how business owners like me can better offer benefits and reward financial benefits to our employees thru IRS tax credits. Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. ? Your article is a FARCE, Gary, Shame on you. endobj 14 0 obj I have been fortunate to have gained life and leadership experience within numerous commercial industries & public sector domains while leading . OH! He was also able to make a great deal of additional money on spread commissions from his downline. Current Employee - Compliance Professional. By David Duford - January 03, 2023 - 5 Mins Read. /Annots [19 0 R 20 0 R] Its taken me years to learn to see the truth about MLMs. TC84457(0415)P Then it asks for your Referring Associate PFA ID. 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