World Financial Group New Program Legit?

[DHK]

I appreciate network marketing for one main reason: sales training. You might not believe the quality of training available (at a low cost too) for people in network marketing.

I met Tom "Big Al" Schreiter about 15 years ago when I attended his "Power Marketing and Promotions" workshop. He doesn't do that one anymore, but I learned quite a few of these "power phrases". This kind of training is why I don't say that "cold calling doesn't work" but that "YOUR cold calling doesn't work". If you know the right phrases that can help open people's minds and not close them, you'll do better:


That being said, I'm not a fan of the business model of MLM. This recent John Oliver episode rather summarizes how I feel about it.

**Language warning**

 

[LGilmore]

The only thing I wonder is if the insurance company knows this is going on and approves of it?

If the purpose of purchasing the insurance is to make money through this kind of setup.... I don't see that as purpose of insurance.

May be too new or they may be using multiple companies to throw off the scent. But wonder what company they are doing this with?

 

[VolAgent]

The only thing I wonder is if the insurance company knows this is going on and approves of it?

If the purpose of purchasing the insurance is to make money through this kind of setup.... I don't see that as purpose of insurance.

May be too new or they may be using multiple companies to throw off the scent. But wonder what company they are doing this with?

I thought WFG only used Transamerica?

If I had to guess, it is new and TA is too big to have caught on yet. The apps are hitting too many different underwriters and the complaints haven't worked their way far enough up the system yet. Also, the apps are probably coming from a lot of different agents.

Assuming this really is going on and it is all going to TA, I doubt they will realize it until they start receiving complaints. Underwriting probably won't catch it as long as they make the financials look good enough, which shouldn't be too hard.

I doubt TA is a knowing party. If they are, I suspect it is some sales manager who has gone rogue.

Of course, all of this is just my opinion.

 

[myinsurebiz]

Bahahahaha - Trans is where they are now because of MLM. All started with a country football Coach named A L Williams and his buddy Humphrey . . .

Think about it - Insurance has been MLM since inception and is today - it's just called a "hierarchy" . . .

Nothing wrong with MLM for insurance so long as the new rep isn't fleeced upon entry by having to "pay to play" . . .

OLA, LH, Senior Life, Securus, NAA, Spur, The Dude, Todd King, Ben, Matt, ( me again one day soon ) - all the IMO's and FMO's are basically the top of their own MLM - they recruit and get an over-ride on the production of those recruited. Simple as that . . .

I thought WFG only used Transamerica?

If I had to guess, it is new and TA is too big to have caught on yet. The apps are hitting too many different underwriters and the complaints haven't worked their way far enough up the system yet. Also, the apps are probably coming from a lot of different agents.

Assuming this really is going on and it is all going to TA, I doubt they will realize it until they start receiving complaints. Underwriting probably won't catch it as long as they make the financials look good enough, which shouldn't be too hard.

I doubt TA is a knowing party. If they are, I suspect it is some sales manager who has gone rogue.

Of course, all of this is just my opinion.

 

[VolAgent]

Bahahahaha - Trans is where they are now because of MLM. All started with a country football Coach named A L Williams and his buddy Humphrey . . .

Think about it - Insurance has been MLM since inception and is today - it's just called a "hierarchy" . . .

Nothing wrong with MLM for insurance so long as the new rep isn't fleeced upon entry by having to "pay to play" . . .

OLA, LH, Senior Life, Securus, NAA, Spur, The Dude, Todd King, Ben, Matt, ( me again one day soon ) - all the IMO's and FMO's are basically the top of their own MLM - they recruit and get an over-ride on the production of those recruited. Simple as that . . .

One, you should brush up on your history. Transamerica long predates A.L. Williams and other than WFG, they have no association with MLM marketing.

What you are getting confused about is this, every business has a pyramid structure. The difference is, the business is built upon selling a product to an end consumer, not on collecting money from lower levels of the pyramid.

 

[myinsurebiz]

My history is just fine. A L Williams created hundreds of millions in AP for Trans . . . I never said they created or predated Trans . . .

Many MLM's don't "collect money from lower levels" - many pay strictly on product sales . . .

I owned a very successful MLM from 1996 to 2001 - but we used the term NWM or Network Marketing . . .

One, you should brush up on your history. Transamerica long predates A.L. Williams and other than WFG, they have no association with MLM marketing.

What you are getting confused about is this, every business has a pyramid structure. The difference is, the business is built upon selling a product to an end consumer, not on collecting money from lower levels of the pyramid.

 

[Roy2015]

Thank you to everyone for your input on this thread!

 

[LGilmore]

My history is just fine. A L Williams created hundreds of millions in AP for Trans . . . I never said they created or predated Trans . . .

Many MLM's don't "collect money from lower levels" - many pay strictly on product sales . . .

I owned a very successful MLM from 1996 to 2001 - but we used the term NWM or Network Marketing . . .

So what happened in 2002?

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personally if you're selling a policy to a licensed agent that could write the policy on themselves, that's pretty crooked and that's where intent is questioned.

I mean I get it, what's going on, but again does the insurer know it's being done?

 

[goillini52]

I interested in what would be some of your tough questions?

I interested be would too.....and also.

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My history is just fine. A L Williams created hundreds of millions in AP for Trans . . . I never said they created or predated Trans . . .

Many MLM's don't "collect money from lower levels" - many pay strictly on product sales . . .

I owned a very successful MLM from 1996 to 2001 - but we used the term NWM or Network Marketing . . .

Tom, if your history is fine, then you would know that A.L. Williams started Primerica. They're an actual insurance company, so I doubt they created any AP for Tranny. Travelers, but not Tranny.

Hubert Humphrey started WFG after he left Primerica in 1991. WFG is wholly owned by Transamerica, a subsidiary of Aegon. WFG works with hundreds of product provider companies, including mutual funds and unit investment trusts, and various insurance and financial services-related companies.

Both are MLM.

 

[rousemark]

I interested be would too.....and also.

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Tom, if your history is fine, then you would know that A.L. Williams started Primerica. They're an actual insurance company, so I doubt they created any AP for Tranny. Travelers, but not Tranny.

Hubert Humphrey started WFG after he left Primerica in 1991. WFG is wholly owned by Transamerica, a subsidiary of Aegon. WFG works with hundreds of product provider companies, including mutual funds and unit investment trusts, and various insurance and financial services-related companies.

Both are MLM.

As usual, he is talking about something of which he has no knowledge. A.L. Williams Company originally was a General Agency that placed huge amounts of term premium with Massachusetts Indemnity and Life Insurance Company. Art Williams then started AL Williams Life which evolved into Primerica .