World Financial Group Employee Reviews about "license"

Updated Mar 4, 2020

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Found 25 of over 921 reviews

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 "license"

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    1. 5.0
      Current Employee, more than 1 year

      Amazing company for those that work, this IS NOT A GET RICH QUICK. ITS MORE A GET RICH SLOW

      Dec 8, 2019 - Marketing Director 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Great environment, culture, people, dont look at the 1 year room, look at the 5 year room. ask yourself what business was successful in the first year.... NONE.. so dont expect to be a millionaire in a year. YES youll make some good money but get a license from the government and work on becoming a better person

      Cons

      you have to put in the work if you want to see success,

      1 person found this review helpful
    2. 4.0
      Current Employee, more than 5 years

      Pyramid? Scam?

      Mar 4, 2020 - Associate in Kelowna, BC
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Perhaps the individuals levying this type of criticism should delve into the definitions of "pyramid scheme" and "scam" , both of which are illegal activities. I am a licensed insurance and securities agent with the province of BC and work for a brokerage company that distributes financial services for Manulife, Invesco, Ivari, Aegon, TD, RBC, IAFinancial Group, Equitable Life of Canada and many more companies. So put your critical thinking hats on..do you actually think that the aforementioned companies would engage our company's services if we were an illegal enterprise? Would the governments of every province and the federal gov't license agents who are aligned with an illegal enterprise. WFG is the fastest growing financial services company in Canada and the largest service provider in Alberta. I love working in this company, great work environment, lots of positive support, mentoring, education and the ability to earn an income based upon my hard work . Do we actively look for business partners? You bet. And so does every company actively look for the best people for their available positions . This is career that very few people are aware of and the earning potential is unlimited. Is it for everyone, absolutely not, but for $130 you can test drive this career option with a senior partner and make your own call. One heck of a lot cheaper than a university course of study or a technical degree that you may or may not like nor find work in after spending thousands of dollars. OH and did I mention that you can work with our company part-time and earn a very decent second income , as well as residual income. Or , get this , you are self-employed and have all of the tax breaks that self employment brings, like writing off gas, insurance, cell phone expenses, trips etc.

      Cons

      You actually have to go to work and be disciplined, coachable and teachable. You are only paid if you are licenced in your province.

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

      Marketing Director

      May 14, 2019 - Marketing Director in Markham, ON
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I worked in the corporate world for over 30 years and I enjoyed the steady paycheques. I joined WFG over 3 years ago and I have found the following: WFG has great leadership, awesome training, unlimited business possibilities, and mostly positive attitude. Amazing corporate culture for teamwork and business collaborations. Advisors that I met so far have high business integrity and deep product knowledge. WFG is a broker and it doesn't own any products (just like Uber doesn't own any taxi cabs). WFG has an excellent product and strategy support from their partners are unmatched by any other organizations that I have worked with. Overall, it is very refreshing to be working at WFG because there are no politics, no backstabbing, totally flexible and low entry fee. I make what I put in. like any other business, it took time to develop my market. I love the fact that once I have built it, the business is mine to keep. Unlike many franchises, the license may only last 10 to 20 years. At WFG you only have to $130+HST CAD (one time and lifetime). I totally believe in the education platform. Once I understand how money works for me, I can do what I want and make money at it. WFG pays to do my everyday banking transactions in RRSP, RESP, TFSA, non-registered savings. I can't find that in conventional financial institutions. I have to pay $29.95 per month to keep my money at my financial institutions. Imagine, for a change that I don't have to pay service fees to do transactions through WFG. At WFG I get paid to do transactions through WFG with financial institutions like TD and BMO.

      Cons

      Sometimes the business owner is not coachable and doesn't have the right business mindset. People associate their failure to what WFG business. I wish people would talk to those have made it instead of whom failed. Really, not everyone has gone to college graduate. You would not ask those who failed in their grades on how poor or how great the school is. Your mindset and your persistence on succeeding will impact

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      4 people found this review helpful
    4. 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
    5. 4.0
      Current Employee, more than 3 years

      Amazing Opportunity

      Aug 28, 2017 - Senior Associate in Regina, SK
      Recommend
      CEO Approval
      Business Outlook

      Pros

      This company provides people with the best opportunity to change their lives. It is a network marketing business and I absolutely love it. All these negative review make no sense. The company is completely legal, government licensed and works with financial giants in Canada like BMO, IA Financial Group, Equitable life and so many others. As far as people call it a pyramid, please tell me in what business your boss doesn't make money of you? When it comes to commissions your upline will make a percentage off you, yet you can still make more money than they do. At least agents are not capped at 45% for the rest of their career like they are in some other firms that I know of. There is so much room for growth! And yes, we recruit. I was recruited into the firm and I am super grateful for it. Everybody should give it a try but when you do, please have real expectations and don't expect to get rich in a night. This is a career path not a quick fix.

      Cons

      You have to put in many hours as well as to practice on your own to become great at understanding the industry as well as being able to work with a client on your own.

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    6. 5.0
      Current Employee

      WFG is Awesome

      Jun 13, 2015 -  
      Recommend
      CEO Approval
      Business Outlook

      Pros

      I feel the need to write a blog about World Financial Group, WFG. After coming across a lot of criticism from people I know and from reading plenty of negativity over the internet I would like to put things from my perspective. Afterall, if someone has a bad experience with something they'll tell 10 friends - if they have a good experience they'll tell 2. My aim is to reverse this. If I tell of my good experiences, maybe others will too. I've been a client since 2011, and a licensed Agent since February 2015. WFG is a pyramid scheme. Right, well first of all pyramid schemes are illegal. They are based on false promises in exchange for money. If anyone has ever done Real Estate they'll see where the basic model of WFG comes from. In Real Estate you pay the Brokerage to work for them - for the branding/image/name. Your broker will also make a cut off of every sale that you do. Is this a pyrmaid scheme then too? If you go and start a landscaping company and get paid $50 for each lawn that's mowed- but pay someone $30 to mow that said lawn and pocket $20 - is that then a pyramid scheme? In WFG - your uplines get paid off of your sales because they are training you, molding you, guiding you and doing plenty of your early work to get you to the level where you get more of the commissions in your own pocket. I've read in places that WFG agents get paid for recruiting. We don't. We are a brokerage of financial services and we get paid by the product partners when we sell or refer a product. WFG is MLM finance. Really?? MLM? In MLM (tupperware, scentsy, etc) you pay for products that you then distribute. In WFG we pay for a government regulated license to distribute products from insurance companies, investment companies and banks. We work out of a brokerage. Is mortgage brokeraging MLM too then? From the client perspective I've read a lot of different information on the Internet - some people (mainly in the US have spoke of bad experiences where they didn't understand what things meant, etc). Ultimately if you look at the banks - TD, BMO, Scotia, etc - everyone will have one they're loyal to, one they hate and one they know nothing about. Generally, that would seem fair. Why do they hate one of those banks? Was it a personal experience with an individual, or is it the model of the company? Even the one that they're loyal to - are they loyal because they really annoyed them so they have no real reason not to be? They haven't exactly done anything remarkable for them - but they're loyal nonetheless. I'm happy to show my statements and my returns and how my investments are working for me, because of WFG. Not because of TD, BMO, Scotia or any other 'bank'. People will blame anyone else when things go wrong. When they lost their house, when they declared bankruptcy, when they made a bad investment decision. WFG is different by design. You have to be mentally tough to pursue the career - or be willing to become mentally tough. There is constant criticism, mostly from the competition or from people who tried it and never made any money at it. Criticism from people who don't fully understand it - but because their friend or family member said "pyramid scheme" or "MLM" or "run", they listen to that opinion. It's easier than doing some research and deciding for yourself.

      Cons

      Listening to uneducated skeptics who have some idea of why WFG is a bad company.

      17 people found this review helpful
    7. 5.0
      Current Employee, more than 3 years

      2018 WFG

      Jan 25, 2018 - Financial Advisor in North Toronto, ON
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Getting your Insurance License with help from the Team is amazing. Taking care of your own Insurance and Finances first and foremost when you have the knowledge WFG provides is also great. The support is more than I expected. I continue to learn about Financial Planning from my Manager. I work and learn on my schedule. Helping families to understand their money and giving them advice is very satisfying This is my business and I decide whether I want to build a team to help me and to help themselves get the knowledge to the masses.

      Cons

      Sometimes too much training can just be too much. There is a lot of product training and this takes time that must be scheduled if I want to continue learning. Wish there were more online Webinars rather than attending in my office.

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      2 people found this review helpful
    8. 4.0
      Current Employee

      Financial Advisor

      Apr 23, 2016 - Anonymous Employee 
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Flexible Time and Easy to obtain the license

      Cons

      No Base Salary and Specific products

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    9. 5.0
      Current Employee

      You get what you put into the business

      Jun 10, 2016 -  
      Recommend
      CEO Approval
      Business Outlook

      Pros

      -Everyone wants to help each other. -Flexible hours -Great meetings -Good recognition system -Potential for 6-7 figure income -You decide who you want to work with and sell to (if you don't feel comfortable recruiting or selling to relatives like me, then you simply don't do it and focus more on friends and people you come across). -Good training and they helped me study for the license test (passed the first time and I was a teenager). -I was somewhat shy and skeptical before joining WFG, especially for my young age, but now I'm much more confident in networking. -I can work a full time job and do this business opportunity on my free time (this job is only meant to be part time and make a few thousand extra a month on top of your regular career until you are ready to make the switch to full-time). -You have full-time nurses, engineers, accountants, and more who don't need the extra money, but want to be with the company. -If I want extra training, they give it to me.

      Cons

      -If you are shy or lazy, don't expect to make $100k, $500k, or $1 million. -don't have the get rich quick mentality after going to the first meeting because it will take a while to make great money. -information gathered from meetings can be repetitive -most of the time, you pay your own fees for certain events and conventions, but they are optional. -you will of course come across skeptical people who will waste an hour of your time (I was one of them at first, but I did the research and realized that it really is the effort that you put in).

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

      Clearly This Job is not for Everyone

      Nov 8, 2017 - Insurance Agent Associate Level in Anaheim Hills, CA
      Recommend
      CEO Approval
      Business Outlook

      Pros

      Work your own hours. Teach people valuable information on how money works. Large range of financial products to fit the needs of the consumer, I saw a few people make comment to the products having higher than normal fees and that we do not put the needs of the customer first. That is totally untrue. If she had been an actual licensed insurance agent she would have known that the department of insurance regulates how much can be charged. Also, we are talking about selling the products of well known companies like Nationwide, Pacific Life, and Prudential. They don't have special higher prices just for us.

      Cons

      The cons are all the false misleading information that people keep spreading around. They clearly don't have a clue as to what they are talking about. A pyramid just involves money changing hands to the top with a false promise that those at the bottom will move up and become the ones that have the money, but that never happens because its a scheme. An MLM requires its sales force to keep large amounts of inventory so they spend all their profits. I am an insurance agent, I have NO overhead and just about every insurance agency I go to I will be a commission only, Independent agent just like I am here at WFG. That is just how it is in the insurance industry. Selling life insurance is not a scam. It is insurance against the only thing in life that's guaranteed, your death.

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      6 people found this review helpful
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