Welcome to my third party unbiased World Financial Group (WFG) Review!
Should you join World Financial Group (WFG)? Is this a legit business opportunity or just a huge scam? I decided to write an MLM Company Review about their business opportunity to help you make an informed decision.
World Financial Group (WFG) is a network marketing company that specializing in insurance and financial products.
Chances are, someone hit you up to join their World Financial Group (WFG) business as a new team member, with the opportunity to make money simply by sharing their products and business opportunity with others.
But does this company live up to its promises? In this review, we’ll take a closer look at World Financial Group (WFG) in three categories: company, products, and compensation plan.
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World Financial Group (WFG) Company
Founded in 2001, World Financial Group operates as a subsidiary of Transamerica, a company with over 115 years of experience in the financial industry. WFG’s mission is to assist individuals in achieving financial independence by providing access to a diverse portfolio of insurance, retirement, savings, and wealth-building strategies. The company boasts a network of over 80,000 life-licensed agents across North America, serving more than 7 million families since its inception.
Transamerica has a long, proud history of making financial services available to the many, not just the few. It began in 1904, when a young entrepreneur named Amadeo P. Giannini founded a bank in San Francisco to help people who couldn’t get the help they needed anywhere else.
In November 2022, Transamerica appointed Todd Buchanan President of World Financial Group Insurance Agency, LLC (WFG), Senior Vice President at Transamerica, and head of Transamerica Financial Advisors, Inc. (TFA).
World Financial Group (WFG) has multiple headquarters, including:
Johns Creek, Georgia
The primary headquarters of World Financial Group, Inc. is located at 11315 Johns Creek Parkway, Johns Creek, GA 30097-1517.
Toronto, Ontario
The Canada Home Office of World Financial Group is located at 5000 Yonge St., Suite 800, Toronto, ON M2N 7E9. Their phone number is (416) 225-2121.
Cedar Rapids, Iowa
World Financial Group, Inc. also has an office at 6400 C Street SW, Cedar Rapids, IA 52499. Their phone number is (770) 453-9300.
World Financial Group (WFG) Products
WFG’s independent agents offer a variety of financial products and services, including:
Life Insurance: Various types of life insurance policies designed to meet diverse client needs.
Retirement Strategies: Plans aimed at helping clients prepare for retirement.
Education Planning: Services to assist families in saving for educational expenses.
Business Strategies: Financial solutions tailored for business owners.
Estate Preservation: Strategies focused on preserving wealth for future generations.
Final product pricing is not easy to find, as offerings are customized based on individual client assessments.
Prospective clients are encouraged to consult directly with a WFG agent to receive personalized information.
World Financial Group (WFG) Review: Compensation Plan
WFG’s compensation structure allows agents to earn income through multiple avenues:
Personal Income: Commissions earned from personal sales of financial products.
Team Income: Earnings derived from the sales activities of recruited team members.
Expansion Income: Income generated from expanding business operations across different regions.
Bonus Income: Additional earnings based on overall organizational performance.
World Financial Group (WFG) employs a tiered commission structure for its agents, with commission rates increasing as agents advance through various ranks.
Training Associate: 25%
Associate: 35%
Marketing Director: 50%
Senior Marketing Director: 65%
Advancement to higher commission levels is contingent upon meeting specific criteria, including recruitment of new agents, achieving certain production levels, and fulfilling other organizational requirements.
For instance, to attain the Senior Marketing Director level, an agent must have three direct legs (with at least one at the Marketing Director level or two at the Senior Associate level), six licensed agents in their organization, and a base net production of 75,000 points over a rolling three-month period.
Alternatively, an agent can qualify with 150,000 base net points over six months or 225,000 base net points over twelve months.
It’s important to note that these commission rates are subject to change, and agents are encouraged to consult the most recent official WFG compensation documents or speak with a WFG representative for the latest information.
The cost to join WFG varies by country:
United States: An initial fee of $125, with additional costs for pre-licensing education (ranging from $20 to $250), exam fees (approximately $100, varying by state), Errors & Omissions (E&O) insurance ($535 annually), and a platform fee for licensed agents ($15 monthly). Aprx. $780-$1,010 in total to start.
Canada: An initial fee of $150 plus applicable taxes, pre-licensing education fee of $199 plus taxes, exam fees around $100 (varying by province), E&O insurance at $480 annually, and a platform fee of $30 monthly. Aprx. up to $930 in total to get started.
World Financial Group (WFG) Legal Considerations and Lawsuits
WFG has faced legal challenges, particularly concerning the classification of its agents. In the case of Sellers v. World Financial Group, a class-action lawsuit was filed alleging that WFG misclassified associates as independent contractors to circumvent compliance with the California Labor Code.
Additionally, WFG’s broker-dealer affiliate, World Group Securities (WGS), has incurred regulatory penalties. Since 2004, WGS has faced fines for issues such as failing to supervise representatives and selling unsuitable products to clients, including seniors.
Notably, in 2010, the Securities and Exchange Commission (SEC) ordered WGS to pay a civil monetary penalty of $200,000 for fraudulent sales of unsuitable securities in California.
Finance Geek
World Financial Group (WFG) Review Conclusion: Is This A Legit Business Opportunity or Just Another Scam?
So is the World Financial Group (WFG) Business Opportunity a scam?
Overall, World Financial Group (WFG) appears to be a legitimate and reputable network marketing company in the insurance and financial industry, that sells products that people seem to benefit from.
(not without complaints of course, but then again which product(s) doesn’t have complaints?)
After this many years in business, I believe they would have been shutdown by the government by now, if they were in fact a scam.
HOWEVER prospective affiliates should carefully evaluate the costs of participation and the reality of what it really takes to create an income in a network marketing.
A business opportunity can only be profitable when you know how to market & sell to others *(which is where most fail)
In conclusion, I believe World Financial Group (WFG) is a legit network marketing company that you can really make money online with. (as long as you know how to share the products or business opportunity)
Now, if you want to learn how to get sales/referrals for World Financial Group (WFG) or any business opportunity or affiliate offer & make money online, then..
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anyways, I hope you enjoyed my World Financial Group (WFG) review and if you have any questions feel free to ask. See my contact info below…
Ricky Williamz: Who am I? and How can I help?
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Email: simpleonlinemoneymethods@gmail.com
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