A quick search of DSA members reveals that Premier Financial Alliance is NOT a member of DSA. Lets take a look at some insurance agencies and companies similar to Premier Financial Alliance in case youre interested in doing a comparison. Premier Financial Alliance's revenue is $91.0 Million - Learn more about Premier Financial Alliance's revenue by exploring their annual revenue, historical revenue, quarterly revenue, and revenue per employee. She is one of the top leaders in Premier Financial Alliance. Would you like to learn more?You run your business.You are busy and your time is valuable. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Bottom line, quitting Premier Financial Alliance is no big deal. endobj /Parent 3 0 R Once I gave them my credit card, they started charging increasing monthly fees. Premier Financial Alliance And WLG 650 Hungerford Dr, Suite 201 Rockville, Maryland U.S.A. To this date, I am grateful to God for my friend and neighbor who introduced me to the opportunity. The Premier Financial Alliance Lawsuit. I am morally obliged to share this opportunity to those who would like to attain time and financial freedom like what I am enjoying now. << 1,440 Sq. Marc Marquez is known for his maverick overtaking manoeuvres and swatting aside his rivals on the track. Glassdoor has millions of jobs plus salary information, company reviews, and interview questions from people on the inside making it easy to find a job thats right for you. They really, really dont want people to know what they are getting into. Whether you are planning just for you or your family, we have a variety of financial solutions to help you meet whatever your goals may be. If you pursue the PFA business opportunity, you will be going in blind. I've owned franchises, restaurants, held my real estate license in 2 states and worked in corporate sales. If your students have a question that they would like to ask, you will have the opportunity to record it and send it in for Randa Abdel-Fattah to answer on the day. << There is always a lawsuit. California is the land of frivolous lawsuits. These policies are likely to provide a return very similar to that of whole life insurance (with the possibility of much worse performance), which is easily seen to be in the 2% to 5% range long term for a policy bought today and held for life. World Financial Group (WFG) is a multi-level marketing financial and insurance services company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. Hopefully, the lawsuit that alleges they are a pyramid scheme will alert the Federal Trade Commission and shut them down. ), Is the World Financial Group a scam? iA Financial Group (Industrial Alliance) Montreal, Quebec, Canada 2 . endobj If youre stuck and bitter about paying $125 then you gotta move on and do something else. Unfortunately, if you dont listen and read carefully, youll misunderstand how the policy works and assume youre going to get stock market-like returns on your cash value or, worse, on your premiums, not all of which goes to the cash value account due to the costs of insurance. Also, check out my Agent Success Stories and my best-selling insurance sales books. with complete knowledge that the Defendants have violated Department of Insurance Guidelines and the anti-pyramid laws, but aided and abetted the conduct of Nationals co-defendants. It hassle you day and night with emails and text messages and demand long virtual meetings weekly. They encourage associates to be intentionally vague and not answer questions about the opportunity. /Kids [45 0 R 46 0 R 47 0 R 48 0 R 49 0 R] /ProcSet [/PDF /Text /ImageB /ImageC /ImageI] Please read the links below, using your common sense to assess the quality of the reviews and comments you read. The more the insurance costs, the less youll have in the cash value account. I suspect if you did fill out the PFA questionnaire, you would soon get a phone call from a rep who tries to talk you into paying the non-refundable fee. Both claim to have been deceived into believing PFA was a legitimate way to make money. The basic premise is that when the stock market goes down, youre guaranteed a crediting rate of zero to 3%. Companies that are members of DSA agree to a code of ethics and to resolve complaints registered with DSA. Premiere Financial Alliance Insurance website, Premier Financial Alliance Insurance Pyramid Scheme Class Action, Copyright Duford Insurance Group 2014-2022 @Financial Educator, former Finance at Wells Fargo (2001-2002). Defendants named in the lawsuit include Premier Financial Alliance, David Caroll (CEO and Founder), Jack Wu (chairman and ringleader) and his company AJW Productions, Rex Wu (field chairman), Lan Zhang (an original member of PFA), Bill Hong (conspirator). Again, there is no information on the PFA website that answers this question. The seasoned agents and the office manager would not answer the phone. Kosmos announced today its financial and operating results for the fourth quarter of 2022. Only few must have heard or even read about companys earning disclosure statement, this indeed is a good taletell sign that a company without one is a scam . To my believe, they are scam while newbies in online making money should stay away from. The company also offers final expense insurance, a type of whole life insurance designed to cover medical bills and funeral expenses after the policyholders passing. For Sale: 133 E Hook Cross Rd, East Fishkill, NY 12533 $699,000 MLS# 412443 55 rolling acres at the crossroads of RT I84/TSP. Private, wooded with nearby apple farms, IPark Business Complex h. /Annots [19 0 R 20 0 R] Commission increases are dependent on agency building, higher levels of recruiting, and production. Its insurance products include life insurance and supplemental health. Premier Financial Alliance is so poorly managed that there is no reason to trust it. We will ask you to provide us with information that we then use in what is called underwriting. >> Even Disneyland gets sued. The plaintiffs also claim that the cost of the insurance is so expensive it cannot compete as a retail product and only members of PFA purchase it as a requirement to qualify for commissions and overrides. Now I have confirmed their illegitimate deals through your article. After reading this great review, we got to know about their activities. /PageMode /UseNone To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. Make good. And somehow else, they dont tell you about recoupments. Hi everyone, Simply find another organization thats better suited to your insurance sales career goals, submit contracting through the new organization, and within the next few weeks, youre good to go and can stop doing business with Premier Financial Alliance. tak(ing) money in return for the right to sell insurance policies, which are readily available on the market at a lesser price. Some organizations honestly believe its okay for an entry-level agent with ZERO experiencesomeone who hasnt even sold their first policyto start recruiting people left, right, and center. When you join PFA, you pay a $125 fee to the company. The company is headquartered in Suwanee, Georgia. A hearing to decide the arbitration matter was scheduled for July 19th. Yes, then check out my Free Insurance Agent Resource Guide to find out more. Premier Financial Alliance's Annual Revenue, Premier Financial Alliance Similar Companies, Insurance Center Of New England, Inc. Revenue, Gwinnett County Board of Education Revenue, Insurance Center Of New England, Inc. How much does that matter? The lawsuit also alleges that PFA promises members they can achieve vast wealth with their PFA business but that over 95% of PFA associates lose money. Hi Ola: I encourage anyone who reads this to do your due diligence by talking to real people with real experiences or relationships with the company before casting your unpleasant judgement. If that wasnt bad enough, there is also something called a participation rate. The data presented on this page does not represent the view of Premier Financial Alliance and its employees or that of Zippia. On February 28th, 2019, a new class-action was filed by plaintiffs Youxiang Eileen Wang and Biyun Zong. This is a business for someone who is serious about creating a great income and financial independence. One of the bigger issues that stands out to me with both these companies is the extreme focus on building a downline agency very early on in your sales career. voyage financial group inc. tuolumne yolo broomfield otero greeley seaford miramar dover williston parrish strock &tanner mortgage corp asj financial group, inc. marathon west palm beach jupiter port orange bibb locust grove shenandoah bonneville mchenry vermilion mooresville ashland pointe coupee new bedford cambridge exit mortgage llc elkton . 3. This too comes out of commissions but you have the option to pay upfront for 30.00 a mon. /Pages 3 0 R More importantly, I want to stress the importance of picking the right firm. Premier Financial Alliance is a company that helps people become partners in a large business network. 15 0 obj I personally know someone (immigrant) who made it good in PFA. $450,000 Last Sold Price. IULs have many moving parts. In December 2006, WGS and one of its brokers were fined $150,000 by Missouri's commissioner of securities for selling unsuitable products to elderly people. Premier financial alliance is one of the platforms where I lost my funds heavily and they couldnt refund me up to date. << It is a one-time lifetime fee. Thats where National Life Group can help. These products dont pass the common sense test. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. In addition, the PFA agents receive a commission when they recruit a new affiliate. /Count 8 PFA mitigates some of the financial and logistical risks that come with starting a business, acting as a self-proclaimed safety net for their partners so they can focus on their creative freedom, leadership strategies, and sales tactics without fear of failing because of their record or credentials. American Income Lifes core markets are labor unions, credit unions, and associations for insurance solicitation. Already we see class-action lawsuits launched, and in the research phase, against its parent company Transamerica, and the Universal Life insurance it produces. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. endobj The financial strategies package at Premier Financial Alliance has multiple benefits that extend to customers entire lifetimes. The insurance company is the sole determinant of what that rate will be, but it is generally considered to come from a combination of the insurance companys portfolio returns, surrender fees, and the extra money available when people live longer than actuaries project. Premier Financial Alliance website claims to be an innovative leader in the financial services industry and to have helped thousands of people to live their dreams and achieve financial freedom. %PDF-1.7 >> SMH. When you join Pfa you will get the training you need to be your own boss. Judging from the website, it doesnt look like potential associates would even have a clue as to what they would be selling. We know from the notice at the bottom of the PFA questionnaire page that a member must pay a $125 non-refundable fee. There are reports online about the commission structure of PFA, but we cannot perform credible due diligence based on information from third party websites. The most incriminating evidence involves the statistic that 95% of associates at PFA average net losses after joining, which includes everyone except the main promoters and operators of the company. The companies of National Life Group and their representatives do not offer tax or legal advice. 2. You should keep in mind that as an insurance agent, you are licensed by the state and not by the company. She is very respectable in the community she lives in, ethical and trustworthy. Although prospective associates are told they will be able to maintain their own insurance business, the policy bought and sold through the pyramid is significantly overpriced. This article is helpful. I consider them to be one of the scam sites in the world. Our role as a combined voice for all councils is incredibly important in shining a light on key issues of policy, funding and legislation and how these impact at a local level. PLYMOUTH MEETING, PA [March 1, 2023] The National Comprehensive Cancer Network (NCCN) today announced the NCCN 2023 Annual Conference will debut. Thanks for sharing this informative review with us. This is called financial independence. 11 0 obj In my opinion, if you cannot find quality training opportunities to sell insurance with either Premier Financial Alliance or the World Financial Group, you should continue your due diligence and look elsewhere. PFA indeed have skeletons in their cupboard and if victims have read articles like your one would have taken great care to know which company is real or not. The quality of experience, training, and skill lessons over time. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. The lawsuit filed in California alleges that success with PFA is completely dependent on recruitment. However, a statement on the PFA website states that no commissions can be earned until a member is licensed to sell life insurance. If this is true, PFA is hiding it for some reason. PHP Agency 6. /Kids [8 0 R 9 0 R 10 0 R] /Contents 16 0 R Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. >> Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. In other words, although you pay the fee, youre not in business. Dr. Taylor developed five questions to answer about a company to determine if it might be a pyramid scheme. Rockville Maryland *Consumer Comment: Multi-Level-Marketing Independent Agency Alliance (IAA) Scam And I will share this with our team. Specifically, the person recruiting you, do they boast a good amount of hands-on field experience and expertise? << . 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