WFG Agent Training?

[toolbelt]

Based on the original post... it's not deceptive. It was plain wrong and ignorant.

Based on your post, the agent touted "7702" as a distribution strategy when it's the IRC for the taxation of life insurance.

If you were a business owner, and I said that I was a business life insurance specialist, and I wanted to talk to you about Internal Revenue Code sections 72, 79, 1035, 401, 403, 408, 412e3, and 7702... would I be lying?

Nope. It's not deceptive.


Here are the problems with WFG:
1. The blind leading the blind. Everybody learns the "same presentation" and no one knows how to think and evaluate things for themselves.
2. They "hire" anybody that can pass the state license exam.
3. They offer a 25% contract up front... and you can only increase it by recruiting others.
4. No professional development, nor any professional associations encouraged.
5. The "MLM" culture.

Because of all of these things, they (and Primerica) really do a big disservice to the industry and to truly professional agents.

However, I have to admit something: They have a target market, and they move a lot of product. In general, it seems that they focus on the market that the majority of career agents ignore.

It certainly makes it easy to replace their business though!

Although these MLM's move "a lot" of product annually, they also lose "a lot" of product annually (lapsed policies/not renewed/cancelled, etc) Check their annual reports for policies in force over the last 5 years. They've only grown by about 20,000 policies annually, with huge forces. And a lot of those sales are to their own people.

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I am asking this as a Newbie... what do you think their target market is? I have been to several of their meetings and I've been in sales long enough to know a good "hook" talk when I hear it... but I always left with the feeling I had missed something...

YOU (green eyed recruit/newly licensed rep) are their target market. . .for policy/investment purchases, monthly online access fees, training cds/dvds, pay-to-attend peer hosted seminars and annual conventions, and possibly a Landmark Forum seminar and a bunch of cliche writing third part author's "Be Rich Like Me" paperbacks. Insurance isnt even their main income source.....its MLM'ing!