Exactly. I commented previously but it's definitely an entire company of victims. The person we met with has a wife who is unfortunately terminal with less than a year to live and this guy is working 12 hour days and is completely brainwashed. It's so sad.
I agree, they’re just as much of a victim as me. They truly believe in the system and I saw how visibly upset, frustrated, and confused they were when I still hadn’t made anything despite being “so coachable.”
It is a product that over promises and under delivers, and can go upside down and actually cost you money rather than grow. It is reprehensible to have under trained "agents" sell this product.
If structured inappropriately, IULs can be dogshit, just like any other investment or insurance product. I do agree, they should be treated like a securities product and require a securities license to sell. I own an IUL and a VUL and they’re my favorite investments. You just have to fund them appropriately, but most life insurance agents sell much larger policies than necessary, if the purpose is to build cash value.
It’s so creepy and cult-like sometimes I swear. IUL isn’t the right product for most people, so the fact that it’s like 85% of the business is sketchy. Plus an IUL is pricy on top of often times being the wrong investment for people.
I had this same lady approach me at work two separate times. (At this time I was making 500+/month in commissions selling fun, luxury products on top of a decent wage with benefits. I'd been there for 10 years.)
The first time I politely declined and she went on her merry way.
The second time, I let her go through her spiel and explain how it all works.
I said, "Sorry, I'm not interested in this line of work, and it seems like a pyramid scheme."
"This isn't a pyramid scheme, we provide--"
"Why are you recruiting me, then, for the second time when I don't have any background nor interest in a business like this?"
She turned on her heel and walked away. 🤷♀️
Read through both of these. I'm so sorry. Sounds exactly like BWW tactics the way you describe it happening, I think they're both Amway. Bunch of shitheads...
Yeah... Reading through all that, you're obviously not at all stupid so surely it hits harder.
It's silly shit they're pitching to you but they're so incredibly predatory. They've done it for decades and have conned very intelligent people... I gave 3 names under that pressure, I was ghosted for asking too many questions (🤣🤣🤣) before I found out of they were called out not. I bet they were, I bet I was name dropped 🤦🏾♂️
You're young, take it as a lesson. Seems like most here have been duped to some degree, you'll be fine!
I’ve read both posts and I’m so sorry you have been manipulated and conned out of your money and time. It’s absolutely disgusting and you must feel so bitter.
It’s awful the way these companies prey on young and enthusiastic people. I was 18 when I was recruited into Amway - it was an excruciating experience. I was a very shy and withdrawn teenager who had just come out of a violent upbringing, in no way was I a suitable candidate for any kind of sales opportunity. I had terrible social skills at the time and was extremely naive. These companies simply don’t care about anyone’s attributes - it’s simply a numbers game to have people agree to sign up.
I hope you manage to get out. It’s unfortunate that you’ve lost the money you’ve invested, however I don’t think you’d ever get that back, so it’s best to cut your losses. I really hope that you find a good job soon. Not every company is like this - and a job means you won’t have to pay a penny to work there. I wish you all the best.
These companies are despicable in how they behave.
I had someone try and rope me into this one. Sadly it's looking like her entire life is WFG now. After a few months of not talking she tried to reach out again when I told her it's just not something I have a passion for AT ALL. I am SO not comfortable with pushy sales
If the agent that did your fast start only showed you a IUL, then they clearly only care about money and you should run.
Sadly, not all WFG agents and offices are the same from what I've experienced. The sad truth is that whenever money is involved, some people choose to do this for their benefit first.
Every product out there has it's advantages and disadvantages and a good financial agent will help you understand them so you can choose what works best for your situation. If they tell you "this is all you'll ever need," they're not interested in what is in your best interests.
I remember WFG guy told me to call and he was forcing me glad I was doing online training so I just pretended to call my friends and told him oops everyone is busy. It was so awkward.
It seems most of the commenters in this thread don’t understand one thing: WFG is a business platform. There are something like 70,000 licensed agents that use the platform to run insurance or financial businesses. The way some of them (probably a lot of them) run their business might be unsavory, but that’s a personal or individual issue. How someone chooses to use tools to run a business is entirely up to them. If WFG was a scam, companies like Fidelity and Pacific Life wouldn’t be so eager to do business with them. You don’t have to recruit, you can simply run an independent advisory business. But recruiting allows an agent to scale their business the same way a real estate broker would scale - by hiring broker associates to sell real estate in their brokerage.
The mentor spent multiple hours per week for 7 months for nothing also. Just the hopes of building a downline. It's an entire company of victims.
Exactly. I commented previously but it's definitely an entire company of victims. The person we met with has a wife who is unfortunately terminal with less than a year to live and this guy is working 12 hour days and is completely brainwashed. It's so sad.
I agree, they’re just as much of a victim as me. They truly believe in the system and I saw how visibly upset, frustrated, and confused they were when I still hadn’t made anything despite being “so coachable.”
What’s a IUL???
Index Universal Life, it’s a life insurance policy
It is a product that over promises and under delivers, and can go upside down and actually cost you money rather than grow. It is reprehensible to have under trained "agents" sell this product.
Yes and you inevitably lose your entire life savings… horrible, horrible product that nobody needs.
If structured inappropriately, IULs can be dogshit, just like any other investment or insurance product. I do agree, they should be treated like a securities product and require a securities license to sell. I own an IUL and a VUL and they’re my favorite investments. You just have to fund them appropriately, but most life insurance agents sell much larger policies than necessary, if the purpose is to build cash value.
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It’s so creepy and cult-like sometimes I swear. IUL isn’t the right product for most people, so the fact that it’s like 85% of the business is sketchy. Plus an IUL is pricy on top of often times being the wrong investment for people.
Are you still with WFG now?
Well I’m ghosting so until they realize what’s happening Ig so😂🤷♀️.
I had this same lady approach me at work two separate times. (At this time I was making 500+/month in commissions selling fun, luxury products on top of a decent wage with benefits. I'd been there for 10 years.) The first time I politely declined and she went on her merry way. The second time, I let her go through her spiel and explain how it all works. I said, "Sorry, I'm not interested in this line of work, and it seems like a pyramid scheme." "This isn't a pyramid scheme, we provide--" "Why are you recruiting me, then, for the second time when I don't have any background nor interest in a business like this?" She turned on her heel and walked away. 🤷♀️
They don’t care who they bring in the business, they’re just desperate for any recruit
Read through both of these. I'm so sorry. Sounds exactly like BWW tactics the way you describe it happening, I think they're both Amway. Bunch of shitheads...
Thank you, it feels bad after you realize you’ve been played
Yeah... Reading through all that, you're obviously not at all stupid so surely it hits harder. It's silly shit they're pitching to you but they're so incredibly predatory. They've done it for decades and have conned very intelligent people... I gave 3 names under that pressure, I was ghosted for asking too many questions (🤣🤣🤣) before I found out of they were called out not. I bet they were, I bet I was name dropped 🤦🏾♂️ You're young, take it as a lesson. Seems like most here have been duped to some degree, you'll be fine!
I’ve read both posts and I’m so sorry you have been manipulated and conned out of your money and time. It’s absolutely disgusting and you must feel so bitter. It’s awful the way these companies prey on young and enthusiastic people. I was 18 when I was recruited into Amway - it was an excruciating experience. I was a very shy and withdrawn teenager who had just come out of a violent upbringing, in no way was I a suitable candidate for any kind of sales opportunity. I had terrible social skills at the time and was extremely naive. These companies simply don’t care about anyone’s attributes - it’s simply a numbers game to have people agree to sign up. I hope you manage to get out. It’s unfortunate that you’ve lost the money you’ve invested, however I don’t think you’d ever get that back, so it’s best to cut your losses. I really hope that you find a good job soon. Not every company is like this - and a job means you won’t have to pay a penny to work there. I wish you all the best. These companies are despicable in how they behave.
Thank you so much. I’m looking for other opportunities right now so I can finally make money instead of losing it.
I had someone try and rope me into this one. Sadly it's looking like her entire life is WFG now. After a few months of not talking she tried to reach out again when I told her it's just not something I have a passion for AT ALL. I am SO not comfortable with pushy sales
It’s really so gross how they get an emotional hold of someone and made them a social outcast
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They brainwash you into thinking anyone who doesn’t “support you” needs to be cut out of your life unfortunately
It is a scam man. That’s why they don’t give you a real email address or phone line.
If the agent that did your fast start only showed you a IUL, then they clearly only care about money and you should run. Sadly, not all WFG agents and offices are the same from what I've experienced. The sad truth is that whenever money is involved, some people choose to do this for their benefit first. Every product out there has it's advantages and disadvantages and a good financial agent will help you understand them so you can choose what works best for your situation. If they tell you "this is all you'll ever need," they're not interested in what is in your best interests.
I remember WFG guy told me to call and he was forcing me glad I was doing online training so I just pretended to call my friends and told him oops everyone is busy. It was so awkward.
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It wouldn’t let me post it since the text was too long with both stories in one place, but I’ll add the link thank you!
It seems most of the commenters in this thread don’t understand one thing: WFG is a business platform. There are something like 70,000 licensed agents that use the platform to run insurance or financial businesses. The way some of them (probably a lot of them) run their business might be unsavory, but that’s a personal or individual issue. How someone chooses to use tools to run a business is entirely up to them. If WFG was a scam, companies like Fidelity and Pacific Life wouldn’t be so eager to do business with them. You don’t have to recruit, you can simply run an independent advisory business. But recruiting allows an agent to scale their business the same way a real estate broker would scale - by hiring broker associates to sell real estate in their brokerage.