World Financial Group Employee Reviews about "friends and family"

Updated Feb 13, 2020

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3.5
68%
Recommend to a Friend
77%
Approve of CEO
World Financial Group President & CEO Joe DiPaola  (no image)
Joe DiPaola
405 Ratings
Pros
  • "Good alternative to other set of part time job if you are really interested(in 27 reviews)

  • "Would the governments of every province and the federal gov't license agents who are aligned with an illegal enterprise(in 25 reviews)

Cons
  • "Expect to sacrifice some time with friends and family at times, also the same way any business owner must(in 46 reviews)

  • "If you want to make money, you have to work for it(in 33 reviews)

More Pros and Cons

Reviews about "friends and family"

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  1. Helpful (3)

    "Best Decision Ever"

    5.0
    Current Employee - Associate in Dawson Creek, BC
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at World Financial Group full-time for less than a year

    Pros

    I recently started with WFG and already I’ve learned quite a lot about different insurance products (through the licensing program) you’re taken through an online course where you’ll be fully licensed after passing the provincial licensing exams. The office environment is positive, uplifting and encouraging!! There are so many opportunities to learn if you put the time and effort into it! Where else can you start your own business for $300!! Not to mention the difference conferences kn world class locations (Banff, Las Vegas etc.)

    Cons

    People are VERY sceptical of the format, that it’s all referral based. However it’s fairly simple to get clients through friends and family. 100% commission based

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  2. Helpful (2)

    "Great company so far"

    4.0
    Current Employee - Non-licensed Member in Ottawa, ON

    I have been working at World Financial Group part-time for less than a year

    Pros

    There is lots of training that is free. Great culture. Everyone very friendly.

    Cons

    Paying for seminars. Having to talk to family and friends.


  3. Helpful (10)

    "It's just a pyramid scheme"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Agent in Ottawa, ON
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Financial Group part-time for more than 8 years

    Pros

    Can make money, but at the expense of your friends and family

    Cons

    MLM Pyramid scheme. You're only making money off your downline, just like Mary Kay and all these other pyramid companies. Only difference here it you're hawking life insurance (whole life policies that take a ton of management fees - way worse than a general mutual fund). You have to hit your family and friends for sales, I left very quickly once I realized nobody actually understands the product they are hawking, and they don't provide any leads at all. Go after your family and friends, hope you get more after that, abuse everyone for money. The company will burn you when policies go belly up. I'm honestly not even sure half of some Agents do is legal. It's shady at the VERY least.

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  4. Helpful (8)

    "associate"

    1.0
    Current Employee - Anonymous Employee 

    I have been working at World Financial Group full-time

    Pros

    nothing good about this place

    Cons

    They try to brainwash you and make you believe in the dream! it's amazing people fall for this B.S. they tell you all the naysayers are the ones that gave up and couldn't cut it, that's their argument for everything. If you look at the 2018 stats it says "more than 800 000 000$ was paid in field commission to associates and that there is more than 65000 licensed associates throughout north america. Do the math... it comes out to 13000$ a year before taxes per agent. That is pitiful! you can make more working at Tim Horton's. They say that there's always room to grow and get to the top. B.S.! research shows that only .3% in the company will make some money. Stay away please! it also destroys relationships with family and friends because they want you to recruit them into the scheme (warm market)

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  5. Helpful (14)

    "Associate"

    1.0
    • Culture & Values
    Current Employee - Associate in Brampton, ON
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I have been working at World Financial Group part-time for more than a year

    Pros

    No pros at all, have been kept in the dark right from the start with WFG Canada and now its time to break my silence.

    Cons

    WFG CANADA will ruin your relation with family and friends forever by selling them unwanted policies , dont make the mistake of giving your contacts to WFG CANADA. They will ask you to give them the phone numbers of the people you know and then they will scam them by making you the scapegoat first. No transparency in this business at all.They will also ask you to give your credit card details as well which is very risky as they record the credit card info on paper and store it in a file. The chances of your credit being ruined for life by a bunch of incompetent people is pretty high here. HUNTING STRATEGY OF WFG CANADA - They will try to befriend you first by joining social networking groups and attending social events and also eye on students and immigrants who are looking for better opportunities. They usually flaunt their FAKE lifestyle and tell a bunch of lies to hook you in.

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  6. Helpful (20)

    "No Morals"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Anonymous Employee 
    Doesn't Recommend
    Negative Outlook
    No Opinion of CEO

    I worked at World Financial Group part-time

    Pros

    - Potential to make a lot of money if you put your morals aside

    Cons

    - Consistently tell you to sell to your family and friends and disregard their opinions on the company - Majority of employees have absolutely no knowledge on finance - No training - Pyramid Scheme - Trainers lie to get you into the business - More about recruiting rather than sales - Call themselves "financial advisor's" but they're mostly just deal with insurance sales

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  7. "RUN DONT WALK AWAY..Multi LEVEL MARKETING SCAM"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Freelancer - Associate in Beverly Hills, CA
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Financial Group for less than a year

    Pros

    They sell a great dream !!

    Cons

    They want you to sell terrible products to friends and family and recruit new associates like most multi level scams

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  8. Helpful (4)

    "Great platform for starting a financial services business"

    5.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Current Employee - Financial Planner in Bakersfield, CA
    Recommends
    Positive Outlook
    Approves of CEO

    I have been working at World Financial Group part-time for more than a year

    Pros

    People sometimes misconstrue WFG to be traditional job or something, whereas its really a high powered service platform that professionals can subscribe to. The contracts that WFG sets up with the big Fortune companies would never be accessible to an individual professional, but through the platform the everyday independent planners, advisors, and agents can have full access to the best products and services available anywhere. In addition, many of the professionals using WFG prefer to work together in teams and collaborate to leverage the individual strengths of the various members. In this way they build an extremely effective development program where even the most under qualified associate can learn high level skills from successful leaders and become -- in the time it takes most advisors an entire career -- an expert planner and a true professional finance resource to every day families and their communities.

    Cons

    Nothing is free in this world, especially the very best things, so expect to invest in your business the same way every business startup does. Working in a team mitigates the high capital requirements of a typical company, so your investments will be comparatively low. Expect to sacrifice some time with friends and family at times, also the same way any business owner must. Keep in mind, this is your business so work with people you like, but also don't try to reinvent the wheel. Be ready to learn about an industry most never get to see. You will do great!

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  9. Helpful (11)

    "Buyer Beware"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Freelancer - Sales Representative in El Paso, TX
    Doesn't Recommend
    Neutral Outlook
    Disapproves of CEO

    I worked at World Financial Group for less than a year

    Pros

    Super driven and encouraging upline. Fun trips.

    Cons

    Any employment “opportunity” that costs YOU an upfront fee- should be taken with a grain of salt. It’s a pyramid scheme no matter how you cut it. They get very offended if you even mention the fact that their business plan looks like a pyramid scheme, then go into a long spiel about how it’s not.... all while drawing a demonstration that looks suspiciously like a triangle with you on top and your “down line” spread below you and their down line below them- and so on and so forth. I don’t know if it’s the same everywhere, but with the group I worked with it was $100 for fees and what not to join. They tell you how you can make your own schedule and just work part time “No problem! It’s great to have your full time job and then work this on the side. But you’ll make so much money selling insurance that you’ll quit your full time job!” Then you find out, the only way to do this part time is to do it FULL time first and build your down line base. Then you get a cut of everything they, and their down line, sell so if your base is big enough- you can eventually just live off of them. You don’t have to sell anything. The trips are not free as implied. You have to hit so many tens of thousands in sales to go on the trips at no cost to you. HOWEVER you are firmly pressed to shell out the money to attend weather you qualify for the trip or not. There’s a lot of “Well, your whole team is going. Why aren’t you?” And “It’s SO worth the money for everything you’ll learn!” My husband got sucked in and began participating, I reluctantly followed him to help with his down line. It looked like a pyramid scheme from the start but I was told I was wrong and was looking at it wrong. Then after a few weeks I began feeling it was a pyramid cult! The adoration these people have for the “founder” Xuan Nygen is SO bizarre. I had grown men that looked and sounded pretty professional tear up and grow giddy when mentioning they saw Xuan in real life. One man actually cried when told us he has a photo of him standing just 3 people away from Xuan. A woman grew breathless and had to sit down when told that with her sales and recruiting, she may get to qualify to have dinner (along with around 100 other people) with him on the next convention trip. Despite the odd behavior around WFG’s founder (we were there to make money not fawn over some guy) we signed up friends and family- all while being told how much money everyone will make once they start selling the product that “sells itself” But.... the money wasn’t “rolling in”. We made appointment after appointment to try to sell life insurance only to be politely turned down time after time because not everyone can afford the monthly cost. We asked what we were doing wrong and we were told “You have to recruit more people. You have to build your down line. Every month you get a percentage of the insurance you sell- but the real money is in your down line and the cut you get from them.” So we doubled down and tried harder to sell. Our baseline tried to sell. The bucks weren’t tumbling into our bank accounts as promised. We were told that our down line was being lazy and we had to push them harder. We were told certain ways to frighten people into buying life insurance. We began questioning the integrity of the company with some of these “doomsday” tips. That was until the day our Upline’s Upline (Boss’s Boss I guess) got up in front of our group for one of our twice a week meetings (they tell you in the beginning meetings are optional but you quickly learn you MUST attend, if you do not you’re spoken down on and called lazy and not driven to the group to be used as an example) and told us that we are focusing too much on developing our teams. We need to focus on numbers. To have a successful down line, we must have at least 100 people on our team. People in the audience were surprised and asked how do we get that many people. Her response was, with a broad smile, “It’s so easy! You will need to go through 100 people to find ONE dedicated person. You need to sign up at least 100 people to find the ONE that will actually have the drive to make it.” So my husband quickly raised his hand and asked, just to verify, “So we have to go through 1,000 friends, family, and acquaintances to build our team of 100?” Again a bright smile from her “Yes! If they’re not dedicated enough to work hard, then it’s their own fault to fall by the wayside!” Shocked he asked again “So it takes $100,000 in fees from my potential down line to find my 100 person base?” She smiled and nodded “Yes! Yes! Isn’t that amazing? So many people are willing to give $100 to make money but they’re not dedicated enough to stay with it.” Soooo, she openly essentially said “Yes, hustle those you love and who trust and love you, hustle strangers, hustle people who are desperate to make you and your upline- and me- money.” He looked at me and I just whispered “I told you.” And we never went back. If you can be heartless and firm, have no compassion for people who are desperately looking for work so much so that they’re willing to beg and borrow money PAY someone to hire them, maybe this will work for you. But I have a conscience.

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  10. Helpful (6)

    "Financial advisor"

    1.0
    • Work/Life Balance
    • Culture & Values
    • Career Opportunities
    • Compensation and Benefits
    • Senior Management
    Former Employee - Financial Advisor in Greenwood Village, Arapahoe, CO
    Doesn't Recommend
    Negative Outlook
    Disapproves of CEO

    I worked at World Financial Group part-time for less than a year

    Pros

    There are none. Don’t fall for their “living the dream” pitch

    Cons

    This is a SCAM!!!! I fell for this place and now lose $45 every month. I’ve ask my upline MULTIPLE time on how to resign and continues to not answer. You have to put friends and family on the line to get anywhere. There’s a lot of cult like mentality used to keep people in and brainwashed.

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Found 46 reviews