World Financial Group Employee Reviews about "friends and family"

Updated Jan 20, 2021

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3.7
70%
Recommend to a Friend
75%
Approve of CEO
World Financial Group President & CEO Joe DiPaola  (no image)
Joe DiPaola
466 Ratings
Pros
  • "Good alternative to other set of part time job if you are really interested(in 29 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 50 reviews)

  • "Constant recruiting to make money(in 37 reviews)

  • More Pros and Cons
    Pros & Cons are excerpts from user reviews. They are not authored by Glassdoor.

    Reviews about "friends and family"

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    1. 5.0
      Current Employee, less than 1 year

      Best Decision Ever

      Mar 2, 2019 - Associate in Dawson Creek, BC
      Recommend
      CEO Approval
      Business Outlook

      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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      4 people found this review helpful
    2. 4.0
      Former Employee, more than 3 years

      Growth Opportunities

      Sep 8, 2020 - Associate in Edmonton, AB
      Recommend
      CEO Approval
      Business Outlook

      Pros

      * Personal Development Training (continuous) * Sales Training (continuous) * Unlimited Income potential (high commission rates) * Make your own hours * Learn about and teach others about financial planning & health insurance * Gain access to and provide high quality resources * No experience necessary * Advancement dictated directly by performance, and promotions are predictable * All income is based on commission * Once you start receiving a chain of referrals, closing business becomes easier * You may build a team and become a broker of your own business * The commission structure is clearly laid out for everyone to understand * Prolonged success requires no luck if enough hours are put into the right areas of the career * Paid travel and advanced training can be earned on merit * The services you provide to your clients is nearly always better than what can or is being provided by other companies, banks or institutions * Anyone CAN do this job

      Cons

      * Some start-up costs for your business (training, licencing, admin: ballpark~$650 over time*) * Continuing office fees are normal (varies, but was $90/ month at my office at my promotion level, which was after my first promotion with a licence) * No guaranteed income, all commission is based on commission * Prospecting family and friends can lead to issues in those relationships but is the best market to being your business in as you will have a better chance of doing business * Cold prospecting is difficult and yields few results compared to your warm market * The commission structure involves overrides (which is normal in business), but may appear to look like a pyramid scheme to people who don't really know the difference between MLMs and illegal pyramid schemes (for instance, you can end up earning more than your broker if you do more more business) * Early success almost always requires an insane amount of hours, luck or connections (not all 3 though) * Most people who start this career are not successful enough to commit long-term and have it be a viable business. Over 99% will leave before 5 years. Over 95% will stop in the first year or 2, and well over 80% will last less than a year, at a guess. * You may need to invest some into at least a limited professional wardrobe (a suit, a few ties, a few shirt and dress shoes, for men. I suggest 2nd hand to limit costs) * This business is simple, but not easy

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      2 people found this review helpful
    3. 3.0
      Current Employee

      Not easy too make lots of money

      Jan 20, 2021 - Sales Associate 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      There are not very many

      Cons

      recruiting, selling to friends and family

      1 person found this review helpful
    4. 1.0
      Former Employee, more than 8 years

      It's just a pyramid scheme

      Jul 11, 2019 - Agent in Ottawa, ON
      Recommend
      CEO Approval
      Business Outlook

      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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      15 people found this review helpful
    5. 4.0
      Current Employee, less than 1 year

      Great company so far

      Aug 17, 2019 - Non-licensed Member in Ottawa, ON
      Recommend
      CEO Approval
      Business Outlook

      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.

      2 people found this review helpful
    6. 1.0
      Current Employee

      associate

      Jan 15, 2019 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      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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      8 people found this review helpful
    7. 1.0
      Current Employee, more than 1 year

      Associate

      Apr 19, 2018 - Associate in Brampton, ON
      Recommend
      CEO Approval
      Business Outlook

      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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      15 people found this review helpful
    8. 1.0
      Former Employee

      No Morals

      Feb 24, 2018 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      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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      22 people found this review helpful
    9. 5.0
      Current Employee, more than 3 years

      MUST READ FROM YOUNGER PERSPECTIVE

      Oct 30, 2020 - Marketing Director in San Jose, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Been here for over 3 years since I was 18. Hitting my 50K watch by the end of the year. Best positive people to be around. Made me mature faster. LOTS OF COMMISSION. (only if you work) You must have an open mind to this business, because it's not what everyone thinks it is. Everyone has their own opinions and quickly believe things they read online or hear from friends. It's a great part time opportunity but EVEN BETTER FULL TIME. Anyone can WIN here. The leaders I have are the best of the best, MVP's of the company. PINNACLE Depending on what team or office you're in, we actually care for our clients, our biggest mission statement is no families left behind and mission over commission.

      Cons

      People come and go. You can't keep an employee mentality here. I got a lot of backlash from my family and friends but I didn't listen and now my family fully support me and I found my REAL friends. The business isn't for everyone, you have to be willing to work if you want to escape the 9-5 rat race. WFG's system is washed up from the West coast to East coast. I hear so many negative things from other offices, thank god I was recruited into the MVP team. People think recruiting is a bad thing and mistakenly think we make money off the $100 affiliation fee. (Big aha moment) Big one right here - THE BUSINESS WORKS IF YOU WORK. That's why it's not for everyone because you'll be surprised with how lazy people can be. It's worth giving it a shot. I was a broke 18 year old looking to change the legacy of my last name, if you really think they're going to take your money and run... then run and find a different office. Each office runs different and it sucks how many SMD's don't properly keep their systems tight. But I was broke and happened to land on the MVP team of the company, EVEN I thought it was a scam, mlm, pyramid scheme and read all of these things online. So if you're reading this and you're a young guy like me, DO IT, many of the most successful leaders here have said that they wished they started earlier than later.

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      5 people found this review helpful
    10. 5.0
      Current Employee, more than 1 year

      Great platform for starting a financial services business

      Dec 18, 2019 - Financial Planner in Bakersfield, CA
      Recommend
      CEO Approval
      Business Outlook

      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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      4 people found this review helpful
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