It's pure commission with no consistent hourly pay or salary. They'll say that it's what you signed up for, but they prey on people who are in desperate need for a job. Be warned and please look deep into the company because a lot of former employees are either indoctrinated or find out it's not what it seems. Yes There are 4 helpful reviews 4 No There are 3 unhelpful reviews 3. They have a lot of lectures on how to succeed. I think this is MLM.
As an intern, you don't get any salary, and only if you successfully sell insurance can you get a commission. Yes There are 2 helpful reviews 2 No There are 1 unhelpful reviews 1.
This company is based on finance and insurance sales. Of you are not interested in being an entrepreneur or working and setting your own hours this is not the job for you. This company is great, I have an amazing iPhone and I had a wonderful experience! If your looking for a company that will challenge you, encourage you, and even shift your mindset then go for it.
I recommend that you start working part time and keep your current job until you become full time. Pros Set your own hours, great team ethics, unlimited amount of growth. Pros Free education. Cons No cons. Yes No There are 2 unhelpful reviews 2.
In my time there I was part of two different offices as a result of office politics. The first was not too good at making you feel like growing was possible. And although the second has a flat out amazing atmosphere, in the end there was help in getting a client base.
This meant that if your friends and family were not interested you would be making no money while still paying WFG's growing monthly fees. Yes There are 1 helpful reviews 1 No There are 1 unhelpful reviews 1.
Claimed Profile. Want to know more about working here? Ask a question about working or interviewing at World Financial Group. Our community is ready to answer. Ask a Question. Overall rating 4. Ratings from women 3. Women rate the female-friendliness of their workplaces on InHerSight. Powered by. Compare World Financial Group with. CIBC 3. Wells Fargo 3. Bank of America 3. Walmart 3. JPMorgan Chase 3. Starbucks 4. The Home Depot 3. Sears 3. McDonald's 3. WFG 4.
What benefits does World Financial Group offer? Does this job allow you to have a good work life balance. How did you get your first interview at World Financial Group? What tips or advice would you give to someone interviewing at World Financial Group?
What is World Financial Group sick leave policy? How many sick days do you get per year? What is the most stressful part about working at World Financial Group?
Is this a Public or Private Company? Where could one find Financial Reports for the company? If you were to leave World Financial Group, what would be the reason? Discussion topics at World Financial Group Professional development. WFG is a company that sells financial planning services. The company sells savings, insurance, and retirement products through its associates, who usually have to pass a licensing exam for the country they live in.
The company was launched in by an insurance company called Aegon. The company operates in Canada, the U. S, and Puerto Rico. I wanted to answer this question right off the bat. In the literal sense of the word, no, World Financial Group is not a scam. The company will not take your money as a customer and give you nothing in return. If you join the company as an agent, you will have the chance to earn an income and need to be licensed in order to directly sell any of these products.
WFG is approved and regulated by the financial governing bodies of the countries that it operates in. However, where many people are turned off of WFG and wonder if it is a scam, is due to its sales tactics in acquiring customers, and multi-level marketing MLM methods of hiring agents to work for them.
This aggressive approach to recruiting new members sets off alarm bells in my head. Getting these new recruits and associates is another type of sales tactics. Their own website shows the multi-level shape of their business model. You will only receive money as a commission if you sell something at WFG, or if those associates you recruit under you buy or sell WFG products.
Note that this may not be up-to-date information, as the report was a few years old, but I believe it should give a ballpark estimation. There are other better and more reputable brokerages out there. If you are willing to get licensed, they can also train you and support you better than WFG, and give you a larger payout.
WFG relies on its associates in two ways to get customers. Firstly, any of the products the associates themselves purchase, essentially turn them into the customers. All those new associates will be immersed in WFG products and culture, and probably end up buying products themselves.
Then, they are forced to aggressively try to get more associates, spreading the WFG product line and sales almost like a virus as it multiplies down the levels. But it obviously works, as WFG has a tonne of sales.
As a former sales guy, I think that WFG must have an extremely effective pitch for new members because it is obviously working and getting results.
But as an investor or insurance purchaser, I would never hire a WFG associate. But put some time in, learn how to start investing , and take control of your own finances. Yes, WFG is a legitimate company.
If you purchase an insurance or investment product from them, you will receive the product. However, there is a limited number of companies that WFG is associated with, so your product selection will be limited to those companies. Also, you may be pressured into purchasing expensive products that may not be the best for you, such as permanent life insurance or segregated funds, but will earn the associate selling it a big commission.
Often, the associate you are dealing with may not have very much experience also, and will likely try to recruit you to become an associate also. As a former life insurance agent and financial advisor, I can understand the success of WFG. In my opinion, it is very difficult to make money with this business model. Yes, there are some success stories, and in its marketing materials, there will be descriptions of people getting rich at WFG. However, it will be a very tiny fraction of the overall recruits.
WFG almost has the same negative stigma as Amway does. Here are some of the reasons I hate MLMs. You can learn something like how to code, become a virtual assistant, or brush up on design skills, then freelance your services to clients. The possibilities are endless. Check out lists like these for ideas:. Instead of working at WFG, you can get licensed on your own to sell investment and insurance products, and start working for an insurance or investment brokerage.
I mentioned before that I worked for an insurance broker in Canada that had way higher commission payouts than WFG has. You will also get trained up at these brokerages.
Here are my top picks on the best trading platforms in Canada. If you need a little bit of advice, you can look at my top picks for the best robo-advisors in Canada. For Canadian life insurance, I would recommend PolicyMe. Another life insurance option for Canadians is PolicyAdvisor. You can compare 20 different insurers very quickly and get the best rates.
If you must use an advisor, try to find a fee-based advisor that is not incentivized to push you towards a certain product. They can help you with both investments and insurance. While WFG may not be a scam, I would never work or buy any products from them, nor would I recommend any of my friends or family to either. I believe there are so many other better options, in terms of choosing a career or buying financial products.
I came to this post because a friend of mine introduced me to someone her upline and said that will introduce about financial literacy. All we just wanted to know is where and how to invest. And herein lies the controversy. Anyway, do you have recommendations on where to get a life insurance or where to invest? Thank you. I am not sure if you can have it refunded to you! As for your other questions I try to cover it in the blog post. I absolutely would not buy a financial product from this company just because the quality and ethics of the agents I have come across are so questionable.
I met up with an acquaintance from a college class who acted as if she wanted to grab coffee. I thought it was strange as we had not had much interaction but figured she might be feeling isolated after the pandemic, tried to do my good deed by meeting up with her but turned out she was trying to shove WFG down my throat.
BUT the behavior of my friend and the woman who recruited her was incredibly aggressive and a bit of a show, low focus on substance and high focus on flash. Two days from when we grabbed coffee, my acquaintance was pushing for a meeting to show me about the WFG program.
The online meeting was highly questionable, the woman presenting seemed to focus more on telling me about how much money she made through WFG instead of how she actually made the money or even what the WFG program was. That should have been my sign to run for the hills. The presenter kept stating that she had retired before she hit 40 because woohoo, WFG was so good for her finances! This seemed a bit disingenuous but i brushed it aside. A few days after that meeting I get a document from my college acquaintance asking me for my employment information, medical history, family information, beneficiary information and so on.
Turns out she was getting ready to sell me life insurance but ummmm…what? I had no idea that the WFG recruits were trying to earn money by selling products to other recruits. In addition tactics were very aggressive. I was absolutely exhausted, had already told my college acquaintance I was super sick and….
I got texts, a lot of texts, from both my college acquaintance and the woman who recruited her trying to schedule meetings even though I told them I was very sick. Yeah no. I realized in full health the agents I was dealing with were manipulative.
They were super pushy on trying to get me and family members to sign up for products, kept trying to disguise aggressive sales to me as friendly zoom meetings and just overall these people felt like people who did not have the morals and values of people I wanted to do business with. I would absolutely avoid WFG just because there is no set standard for levels of professionalism and conduct. The products are genuine but unfortunately being peddled by some agents with extremely questionable morals.
There are both Good people and Bad people in every industry. Fortunately I have seen both in WFG. Good People — 1. Understand clients need.
Protect clients wealth. Accepts that something went wrong and tries to fix it. Bad People — They tend to play with peoples fear in disguise of providing financial literacy.
Do you want to take control of your life? Who controls your time? You work for money and does your money work for you? Is your money growing? Trying hard to sell ULs and Seg. Funds despite financial situation of the client. During Pandemic last year, I lost my job. I was not in mood but he insisted to in person meeting. They were flaming the fear that North American countries has bad reputation for job security.
Only Financial Services industry can provide protect people, even in financial crisis people in WFG have thrived and they promised they has impugnable duplication system that works immensely for everyone. I have joined them and was working there for year before I decided to discontinue.
The only problem I see is that there are too many bad ones than good ones. It is like any other business, if we want to grow the business you need to recruit is the justification provided from great mentors and coaches.
They really have poor understanding of product. To my knowledge I have interacted with few extra-ordinary people SMDs or CEOs who understood what product to recommend and how to design a product.
Rest all 30 to 45 people depend on these 2 or 3 people. They also worry about activities and trying to meet goals. People at the bottom somehow want to be SMD to get bigger cut and get bonus, which I felt really bad.
They are worst so much so that they err in basics. How many of them will be scrutinized in a random audit? En English. Job Title. Canada reviews. Ratings by category. Sort by Helpfulness Rating Date. Language English French Any. Found reviews matching the search See all reviews. Excellent work opportunities. Work as self employed. Make your own schedule and work.
Indeed featured review The most useful review selected by Indeed. This is a fantastic platform to build your own business. WFG is a platform like Amazon. You have the diversity of selling financial products. For payment it very good. They pay weekly. Pros You are your own boss. Cons No monthly salary. Full commission base. Was this review helpful? Yes There are 1 helpful reviews 1 No.
Report Share. Yes No. Company does a lot of recognition. You can work part time or full time - you make your hours! And if you are willing to put the effort in - you will change the financial future for so many families, plus will see great financial reward for yourself.
It is a fantastic win-win career! Pros Recognition, financial rewards. No work life balance and working with no actual management was bit hard for me. I never expected this. I never recommend anyone to go and work as office admin.
Yes There are 1 helpful reviews 1 No There are 1 unhelpful reviews 1. I absolutely love my team at WFG, we are truly making an impact in peoples lives. Pros Helping others, make my own schedule, supportive team. Rate your recent company Share your experience to help others. This is a business opportunity, not a paid position.
The business is an independent broker, with the opportunity to recruit and train a team if you want to build a business. Excellent leadership, support and education is constantly provided to me, literally daily updates.
Finance is moving industry and its important to keep up to date. Hands on field training and mentorship by seasoned advisors, and access to unlimited professional and personal development. Words of advice, know what your getting into.
There are no short cuts here, its all skills and drills, perfect practice and genuinely caring for your team and clients is the highest priority. You do need a government license through the Alberta Insurance Council and a securities license opens a lot of doors as well.
This opportunity is only going to be what you make of it. Like any realtor, broker or sole proprietor, success does not come overnight. With intentional work ethic, coachability, and desire to always improve you can create an extraordinary business. Just keep in mind, I will repeat it again, there are no short cuts here.
Pros Unlimited growth opportunities, control your income and time. Cons self employed - meaning lots of learning curves and no short cuts. I felt that I had support from all the people around me. Everyone is very kind and helpful. People that are there are there because they love what they do, and I came to learn and become that way myself. Even though I didn't have a financial background, the training I got in finance is top notch, first rate, practical information that can be used in daily life and shared easily with people I care about.
The partners we work with are dedicated to us and are always coming up with new ways and products to make our business easier and better. Plus they sometimes bring us free lunch!! My office is a big fan of the free food haha! It is also a company that allows us to help people to learn, grow, live better, and have a better life. Another bonus is that, since you are running your own business, any expenses you have related to business are tax write offs!!
Excellent knowledge about finances. Product and mindset trainings are provided almost everyday to be successful and leadership is very helpful. Hardest part is in initial days but if you follow leadership you will cross the hurdles.
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