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09-02-2009, 09:57 PM
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#1 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Jan 2008 Location: Vancouver
Posts: 1,788
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| World Financial Group ??
anyone working for them or had any experiences with them?
i just went to one of their info sessions
they keep saying they make 6 figure digits
and then i wanted to know more about the company
they offered me a package but the package was $5 so they said do you have $5 on you..i was like no i dont LOL
pyramid scheme?
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09-02-2009, 10:14 PM
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#2 | | WOAH! i think Vtec just kicked in!
Join Date: Oct 2005 Location: Vancouver
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09-02-2009, 10:15 PM
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#3 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Jan 2008 Location: Vancouver
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Yup thats the one!
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09-03-2009, 08:39 AM
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#4 | | Unauthourized Spammer
Join Date: Jun 2005 Location: .
Posts: 494
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| Quote:
Originally Posted by Durrann1984  anyone working for them or had any experiences with them?
i just went to one of their info sessions
they keep saying they make 6 figure digits
and then i wanted to know more about the company
they offered me a package but the package was $5 so they said do you have $5 on you..i was like no i dont LOL
pyramid scheme? | You can make it work however I firmly believe you can make it work better on your own. If you're interested in becoming a financial advisor, you need to consider your options.
Look into Investors Group, Manulife, Sunlife etc.
I know people at WFG making 7 figures a year. In fact, part of my previous job was to work with some of the top producers in the Country. I even went to Texas to meet Mr. Holmes a few years ago.
Most of the people in WFG are starving and can't make ends meet. I wouldn't listen to everything they say as fact. It's hard as hell to make it work and you have to be the kind of person who loves knocking on doors and phoning people. If you're the kind of person that could build a client base from scratch, go for it. If not, write your CFP and start working at a bank.
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09-04-2009, 08:17 AM
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#5 | | SFICC-03*
Join Date: Mar 2002 Location: richmond
Posts: 8,063
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i was an associate way back when they were called "world financial group". i didnt make a penny, but i didnt really try too hard. my friends mom on the other hand, was making over 200k in her 2nd year. shes a real go getter though.
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09-04-2009, 12:24 PM
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#6 | | Official Texas Ambassador
Join Date: Oct 2004 Location: Houston, TX
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I've had guys tell me to go to these sessions. Whats the job all about?
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09-04-2009, 02:52 PM
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#7 | | My AFC gave me an ABS CEL code of LOL while at WOT!
Join Date: Jan 2008 Location: Vancouver
Posts: 1,788
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| Quote:
Originally Posted by unit i was an associate way back when they were called "world financial group". i didnt make a penny, but i didnt really try too hard. my friends mom on the other hand, was making over 200k in her 2nd year. shes a real go getter though. | does it show that shes making over 200k?
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09-04-2009, 05:03 PM
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#8 | | SFICC-03*
Join Date: Mar 2002 Location: richmond
Posts: 8,063
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shes like family i know her well, and yeah it shows.
she does something else now and makes even more
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09-04-2009, 07:30 PM
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#9 | | Not a mod
Join Date: Mar 2007 Location: Surrey
Posts: 1,314
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Ive had numerous ppl ask me to attend their presentations and I have twice way back in 2001 before most heard of the company. I obviously clued in that something was fishy when the host kept talking about how he made 6 figures last year. 20 minutes prior I saw him pulling into the parking lot in a Pontiac Sunfire with a missing hubcap.
Just remember there is no such thing as easy money despite what they tell you at their presentations. WFG is full of shit. Don't take it from me, just google their name.
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09-06-2009, 01:05 PM
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#10 | | WOAH! i think Vtec just kicked in!
Join Date: May 2005 Location: vancouver
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You get a percentage, like 1 or 2 percent of your total assets of your clients that are held within the company. So lets say you get 2% and of all the clients you have, their total money invested in the company's portfolio is 1 million, you get a yearly salary of $10,000 dollars.
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09-07-2009, 11:35 PM
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#11 | | My dinner reheated before my turbo spooled
Join Date: Nov 2006 Location: Vancouver
Posts: 1,720
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Originally Posted by rslater You get a percentage, like 1 or 2 percent of your total assets of your clients that are held within the company. So lets say you get 2% and of all the clients you have, their total money invested in the company's portfolio is 1 million, you get a yearly salary of $10,000 dollars. |
hey
that sucks
__________________ Quote:
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-Carl Sagan
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09-09-2009, 08:19 AM
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#12 | | Unauthourized Spammer
Join Date: Jun 2005 Location: .
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Originally Posted by StaxBundlez hey
that sucks | Not really.
If you open your own firm and you own it yourself, you have to pay for your back desk fees because there is no chance you're going to have your own back desk. If you do then that's a whole different business altogether.
Berkshire (before Manulife took over) had one of the best for payouts for the IIROC and MFDA.
The trailers on asset book value obviously varied depending on what type of investments were held but most of them would be paid within a range of 0.5- 2% annually.
A good planner should have a book of $100,000,000. If you take the average of %'s you have 1.25% of $100,000,000 which is $1,250,000 per year in trailers.
For those of you that think that's a hard thing to do, it is. If it was easy, everyone would be doing it. I had a client that had a book worth $3,000,000,000 in Vancouver and coworkers in New York had advisers with individual clients in the 9 figure region. Some of these advisers are shot callers. Making 8 figures a year just managing accounts.
Back to the basics though. WFG is not going to attract the wealthy client base. It's designed to help average people. If you're really good, you can build a book of $10,000,000 which is about $100k a year provided you keep that money on the books. I don't know how much WFG takes but it's probably something like 30% so you give up that 30% trailer and another 30% for all your up front commissions.
The advantage that WFG will pitch is that you can recruit and have people working under you so you can get your trailers and also a piece of other people's trailers etc.
In my opinion, if you're good enough and willing to work hard enough to make WFG work, you're better off at another firm.
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09-09-2009, 09:56 AM
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#13 | | RS controls my life!
Join Date: Jul 2007 Location: Vancouver
Posts: 714
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| Quote:
Originally Posted by Chuck Norris Not really.
If you open your own firm and you own it yourself, you have to pay for your back desk fees because there is no chance you're going to have your own back desk. If you do then that's a whole different business altogether.
Berkshire (before Manulife took over) had one of the best for payouts for the IIROC and MFDA.
The trailers on asset book value obviously varied depending on what type of investments were held but most of them would be paid within a range of 0.5- 2% annually.
A good planner should have a book of $100,000,000. If you take the average of %'s you have 1.25% of $100,000,000 which is $1,250,000 per year in trailers.
For those of you that think that's a hard thing to do, it is. If it was easy, everyone would be doing it. I had a client that had a book worth $3,000,000,000 in Vancouver and coworkers in New York had advisers with individual clients in the 9 figure region. Some of these advisers are shot callers. Making 8 figures a year just managing accounts.
Back to the basics though. WFG is not going to attract the wealthy client base. It's designed to help average people. If you're really good, you can build a book of $10,000,000 which is about $100k a year provided you keep that money on the books. I don't know how much WFG takes but it's probably something like 30% so you give up that 30% trailer and another 30% for all your up front commissions.
The advantage that WFG will pitch is that you can recruit and have people working under you so you can get your trailers and also a piece of other people's trailers etc.
In my opinion, if you're good enough and willing to work hard enough to make WFG work, you're better off at another firm. | Don't mean to thread jack... but... What do you guys think about Freedom 55? Pretty much the same concept as selling insurance products that people don't really need?
There's quite a bit of information sessions provided from them to my school so I'm curious what do you guys think...
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09-17-2009, 02:48 PM
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#14 | | Rs has made me the woman i am today!
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This is a piece of crap. I went into one of the information session. This guy is telling me he went through university and became an engineer, making good money and quit to become this WTF or WFG piece of crap, making 6 digits easily.
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02-04-2010, 12:55 PM
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#15 | | MiX iT Up!
Join Date: May 2006 Location: vancouver
Posts: 8,133
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bump.
so i got invited to one of these meetings, and when i asked my friend what its about he said that the 'michael jordan' of this is gonna be at the meeting and he can explain it better.
do you guys know what WFG is all about? besides the fact that it's a MLM.
__________________
Sometimes we tend to be in despair when the person we love leaves us, but the truth is, it's not our loss, but theirs, for they left the only person who couldn't give up on them.
Make the effort and take the risk..
"Do what you feel in your heart to be right- for you'll be criticized anyway. You'll be damned if you do, and damned if you don't." - Eleanor Roosevelt | |
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03-03-2010, 07:26 PM
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#16 | | I *heart* Revscene.net very Muchie
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ugh, i get "recruited" by this all the time
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<3 tos'd the troll king
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03-10-2011, 07:49 AM
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#17 | | Banned By Establishment
Join Date: Jan 2011 Location: vancovguer
Posts: 38
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lol i had the samething. i was at the orientation yesterday with a friend. ppl saying they did engineer job, nursing.... and whatever and now pulling in 6 figures and working whenever they want and at most 80 hrs per month.the guy driving us to the orientation -the pushy guy was just driving a 2000 toyota. Quote:
Originally Posted by Euro7r This is a piece of crap. I went into one of the information session. This guy is telling me he went through university and became an engineer, making good money and quit to become this WTF or WFG piece of crap, making 6 digits easily. | | |
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03-10-2011, 03:23 PM
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#18 | | I don't get it
Join Date: Mar 2008 Location: burnaby
Posts: 426
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if you want to succeed at this type of work, it's quite easy - rent the most expensive car before giving the seminar and make sure everyone attending realizes the rental parked outside is your car. Most of the successful scammers are able to convince the sheep they are ridiculously wealthy. The 'investors' getting duped will always tell the regulators/cops, I thought he was wealthy and successful as he drove "insert rental ferrari".
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04-24-2011, 12:00 AM
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#19 | | They let me be a moderator. LOL
Join Date: Oct 2004 Location: Vancouver
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Just went to this earlier today.
Friend brought me there...
Do yourself a favor and click this link http://www.revscene.net/forums/searc...archid=2298491
Last edited by SpuGen; 04-24-2011 at 01:47 AM.
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04-24-2011, 07:59 PM
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#20 | | I *Fwap* *Fwap* *Fwap* to RS
Join Date: Aug 2007 Location: Internet
Posts: 1,564
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Originally Posted by SpuGen | links not working for me
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04-26-2011, 11:32 AM
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#21 | | They let me be a moderator. LOL
Join Date: Oct 2004 Location: Vancouver
Posts: 9,219
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Just type in Search:
WFG World Financial Group AEGON WMA
I swear I had the link correct.
I guess slammer111 cried to a mod. I had my other post deleted too  | |
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05-01-2011, 03:39 AM
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#22 | | 14 dolla balla aint got nothing on me!
Join Date: Jun 2002 Location: Vancouver
Posts: 610
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I was just going to mention that name slammer111. He's a big fan of this pyramid and speaks highly of it. Posted via RS Mobile | |
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05-25-2011, 01:39 PM
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#23 | | RS.net, where our google ads make absolutely no sense!
Join Date: Feb 2002 Location: Surrey
Posts: 989
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The one thing that kills a lot of new people with WFG is the fast start. because they basically try and steam roll you into giving up your top 2 warm market prospects and then your upline will go an make the sale and commission while you get you nothing from that. They say it's to promote you so that you'll start earning a higher commission once you finally get licensed. I would say Canada Financial is a better life insurance brokerage because they don't have such a heavy spread on commissions. WFG wants you to recruit because if you don't you make such little commission on your own production.
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For Good or For Awesome?
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10-03-2011, 02:18 PM
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#24 | | Even when im right, revscene.net is still right!
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I'll sgart by stating that I'm not currently working for WFG nor I'm a big fan of their structure but I do know a fair bit about it. The first thing anyone's gotta realize is WFG is an independent brokerage company so everyone in there is a self-employee. So what you see and hear from one office might not be the same idea of what they preach at another. The fast start thing the previous poster pointed out, again that's largely who u talk to. I know that at one of the offices, when u bring ur upline to ur client, commission is SPLIT 50/50 between the 2 of you even though you are not licensed or have any knowledge of what you're doing. Again, I cannot stress enough that this depends on who you work with. In order for you to start making money, u will have to put in money of ur own to enroll In courses which will allow you to take PROVINCIALLY required exams for you to start selling various products, whether it is mutual funds or insurance. To summarize things, if you have an education, or are able to study, I recommend that you stay away from WFG, however, if you have limited education and personal skill sets, and are working at a minimum wage job, this might be something you want to look into as a possible option. Posted via RS Mobile | |
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