World Financial Group wtf???

[dac]

So my sister-in-law's husband is getting involved with this organization.  I've done a bit of research and not much of it sounds good.  Any one on here have any good or bad experiences with these guys?

[WhiteOut]

Its a scam, pure and simple.

[Justink]

Instead of getting scammed you can giv me the money to put into my jeep
You'll be able to see were the money went at least 

[dac]

Instead of getting scammed you can giv me the money to put into my jeep
You'll be able to see were the money went at least 

See, my plan was to blow it on MY jeep, then at least i can see where it goes.  My wife doesn't understand this though.   

[yyc_tbird_sc]

I personally know three people who have lost alot of money in scams like these, two of them with Primerica Financial. One of them wound up losing a marriage and alot of friends from it.

[tubby]

Don't let anyone you know do this crap Dwight. My friend Cory is the "King of the Get Rich Schemes" and he got suckered into this crap. He bugged me for months to get into it with him. He's out a significant chunk of change now due to it.

[dac]

Kinda what I figured.

What about a place like investors group?

[tubby]

Kinda what I figured.

What about a place like investors group?

I've dealt with The Investors Group in the past due to peer pressure. Meh, it's okay. I made some money.

[JackstandJohnny]

WFG is a waste buddy. tell your buddy to steer clear; they are a pyramid scheme with questionable 'plans'  

it is 100% commission based and not worth your friends time.  

also, these 'advisors' are more than questionable, often they are uneducated people drawn from all sorts of backgrounds (read: useless experience) to sell these questionable products;

Investors Group is similar.

is your buddy looking to work with these guys or looking for a financial planner?  gimme a shout Dwight if its the latter.

don't let him get drawn in from the 'build your business' bull (if he's looking for a job)  its like i said, 100% commission, and they pair you with advisors to sign up your 'client base' which is your friends/family, then when the pipeline runs dry they stop helping/teaching etc. and let you drown.

i work in the industry dude; not cool.... we take a lot of brokers from IG and WFG........ alot of them are questionable...............  so are their product.

[Vinman]

While on the topic of scams, anybody have any experience with Mona-Vie?

[ornamental]

i have a not so investment savy friend recommend me to a world financial guy in december..
  the WFG called and wanted to meet me for coffee and chat about stuff.  i nver met cause that just sounds shady.

 he sent me info last week:


Please feel free to forward the information below to anyone you think may be interested.
*Space is limited

Our next Financial Workshop is:

Calgary, Alberta
 
Date:
 March 27, 2010 (Saturday)
 
Time:
 1:00 am - 5:30 pm (Registration at 12:30-1:00 pm)
 
Venue:
 Business Career College
115-2323 32 Avenue Northeast
Calgary, AB T2E 6Z3
 
Price:
 No Charge
 
 

Topic: Full Workshop including Strategies that will show you how to:
• Consolidate Your Debt and Increase Your Cash Flow
• Protect Your Income – Protect Your Family
• Establish an Emergency Fund
• Melt Down your RSP before Retirement to Reduce Your Tax Burden
• Maximize the Return on Your Real Estate
• Get Critical Illness Coverage and get all your premiums back
• Establish an Insurance Tax Shelter and use all the money at retirement TAX FREE
• Build a solid financial foundation including all necessary Estate Documents
• Pass on your assets to your loved ones tax free outside of Probate
• Protect your money & investments from Creditors
 
TO REGISTER PLEASE EMAIL:

Name, Telephone and email address to: [email protected]

www.frmws.com


 go for the fun and see how they sucker people in and scam them

[Vinman]

i
 

• Melt Down your RSP before Retirement...

Sounds like this is their specialty

Vince

[Sugarphreak]

I seem to recall this organization, I was approached by somebody at work who took me to a seminar like 6 years ago...  they are a horrible company when I started looking at the advice they were giving, they basically were supposed to be consolidating peoples debt, but actually they were signing them up for a higher interest rate and then leaving out credit card bills... very shady and unprofessional. Commissions were taken in order of the pyramid structure so anybody just starting got basically nothing, plus you had to pay them a few thousand dollars just to get started.

if I am correct they are affiliated with "The Institute for Financial Learning"

Google "Milo Brost" (AKA Milowe Brost)

EDIT: Sorry the one I am thinking about was this one...  same idea, different pile
http://en.wikipedia.org/wiki/Primerica_Financial_Services

In any case all this stuff is a giant scam, listen for catch phrases like:
-"If the dream is big enough the numbers don't matter"
-"Lets compare bank accounts in 5 years"
-"bla bla bla early retirement"

[yyc_tbird_sc]

I got asked today at work if one of the guys could get my number so we could get together and he could show me what World Financial Group was about.....LOL.....

I wonder if he got the hint when I told him I'd take his number and call when I want to....