However, we do know that the plaintiffs lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. Premier financial alliance is one of the platforms where I lost my funds heavily and they couldnt refund me up to date. /Tabs /W Both are multilevel marketing firm (MLM) companies. With an MLM that is a member of the Direct Sellers Association, the answers to these questions can be found in the Earning Disclosure Statement and the Compensation Plan. NOTE: Are you an aspiring or new insurance agent looking for more insight on how the insurance sales industry works? C2820332, that currently does business at 8000 Marina Blvd., Ste. /Resources << The portion of your premium that pays for the insurance component cannot go into your cash value account. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. Bottom line, quitting Premier Financial Alliance is no big deal. Not to mention the lawsuit that clearly describes Premier Financial as a pyramid scheme. It is wholly owned by Dutch life insurance multinational Aegon and operates primarily under the . Thank you. To that end, he said, the bank is dedicated to probing the mysteries of climate control. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. The company also offers final expense, living benefits, and indexed universal life insurance products. Premier Financial Alliance insistence that you give them your phone number is suspicious. /Kids [15 0 R] A legitimate direct sales company will have no more than four levels of rank and overrides. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. 1. You do your own marketing. Here is a brief overview of the products and strategies featured through the Premier Financial Alliance services. The people who recruited you most likely will guide you and train you. Generally speaking, people dont make money here by selling legitimate products. Time to learn and application of the knowledge, skills and attitude are the 2 vital factors for you to achieve in any endeavor. If not for the work of Dr. Jon Taylor, I may never have seen the light. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. /Count 8 Premier Financial Alliance peak revenue was $91.0M in 2021. Menu Home; Rankings. There are many reasons you may want to quit Premier Financial Alliance, for example, you ran out of money to invest in leads, you ran out of prospects to sell to, or you simply found that the business of selling insurance wasnt a good fit for you. There is an open and direct communication line with the CEO, the Executive Chairman and the other leaders in this company. >> [20]Aegon's Chief Executive Officer Alexander Wynaendts said on Bloomberg TV that "When we took the company over, we put in place very strict regulatory and compliance procedures. SUWANEE, GA / ACCESSWIRE / November 14, 2016 / David Carroll, CEO and Founder of Premier Financial Alliance, Inc. announced on April 30th, 2016, the debut of Living Life indexed universal. My goal was to provide clarity and transparency on how the company works and what circumstances you need to be aware of. Why Affiliate Marketing is Better than MLM. 3. The odds are you will lose. No clue. Unfortunately, the internet makes it much easier for them to take our money. I have not heard about this company before. TC84457(0415)P The good news is, quitting Premier Financial Alliance is easy. Premiere Financial Alliance (PFA) sell for National Life Group which doesn't have a good reputation in the Insurance Industry plus Premiere Financial Alliance (PFA) only push one product and one product only from National Life Group which is an (IUL) Indexed Universal Life Insurance Product and Premiere Financial Alliance (PFA) does not represent The promises of MLM to people for financial breakthrough is a mirage. The final report will bring together several elements of Canada's role in the conflict, including financial, military and humanitarian aid. Common Scams That Prey on Seniors and How to Prevent Them. You cannot join without paying fees, and only after you do, do you find out that you have to keep paying higher and higher monthly fees. World Financial Group - Be Careful of this MLM! Even if you only go back 15 years to 1999, during this supposedly terrible period for equities, it has happened 7 times. Kosmos announced today its financial and operating results for the fourth quarter of 2022. PFA is broker for Life Insurance Companies. I consider them to be one of the scam sites in the world. Welcome to Premier Financial Alliance Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. The Shanghai Cooperation Organisation (SCO) is a Eurasian political, economic, International security and defence organization. When an MLM is not a member of DSA, it is cause for concern as it reveals they are not the least bit interested in appearing legitimate or abiding by any code of ethics. BMO's chief sustainability officer, Michael Torrance, said the bank is "Guided by our Purpose to Boldly Grow the Good in business and life.". Required fields are marked *. Financial education, training, and leadership programs offered by agents at Premier Financial Alliance help form partnerships with new entrepreneurs and turn them into lifelong associates in their business network. In November 2010, the SEC ordered WGS to pay, among other things, a civil monetary penalty in the amount of $200,000 for the fraudulent selling of unsuitable securities in the State of California, which were funded using home equity, derived from the refinance of the customers' homes into subprime mortgages. << The truth is , these companies make money from their victims without nothing to give back. It is headquartered in Johns Creek, Georgia, and operates both in the US, Puerto Rico, and Canada. I only had to pay the $125 non-refundable fee and I paid expenses for my insurance licensing like everyone else. Thanks for writing out this lovely article and I must say its a must for everyone to read and digest.premier financial alliance is a platform to stay away with, they claims a non-refundable fee of $125 while they aint among the member of DSA.what exactly is there group into? That means if the stock market has a really great year, such as the 30% index return in 2013, your return is capped at some lower figure, often in the 10% to 15% range. On May 6th an initial case management conference for both cases was held. /AA 5 0 R 2 0 obj Chen et al v. Premier Financial Alliance, Inc. et al - 4:18cv3771 For advice concerning your own situation, please consult with your appropriate . Join the Premier Financial Alliance team See Our Latest Jobs 5.0 Current Employee, more than 5 years The Real Deal for the Right Person Sep 18, 2022 - Provisional Field Director in Phoenix, AZ Recommend CEO Approval Business Outlook Pros Unlimited income potential. "Work life balance" was the most mentioned, "Great leadership" was the most mentioned, "Entrepreneurship" was the most mentioned, Read more National Life Group reviews (349), Read more Premier Financial Alliance reviews (146). I have been fortunate to have gained life and leadership experience within numerous commercial industries & public sector domains while leading . Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. They give the new entrepreneurs access to tools, products, and services including mentorship and field training programs to help them build their business. None of the information on this page has been provided or approved by Premier Financial Alliance. >> When you join Pfa you will get the training you need to be your own boss. /Kids [45 0 R 46 0 R 47 0 R 48 0 R 49 0 R] A legitimate direct selling company earns most of its revenue through retail sales. Private, wooded with nearby apple farms, IPark Business Complex h. New York Life, established in 1845, is the largest mutual life insurance company in the country. /Metadata 6 0 R PFA collects $125 non refundable after filling lot of questionnaires and at the end all is a scam. << In performing due diligence on an MLM company, DSA is a good place to start. This product is not available in Montana and New York. Their training is in sales, and they are generally very good at what they do. The $125 membership fee is refundable within the 1st 10 days of signing up. Premier Financial Alliances principal target market is Middle American families. prices are so low? They dont have any magic investments; they have to invest like anybody else. One of the bigger issues that stands out to me with both these companies is the extreme focus on building a downline agency very early on in your sales career. Both are multilevel marketing firm (MLM) companies. BUSINESS OWNERS Your article and one-sided. Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. Both the focus on recruiting agents rather than immediate sales as well as the non-refundable $125 signing fee are red flags for those worried that the insurance vendor they work for is a pyramid scheme. New Premier Financial Alliance suit claims Asian immigrants targeted Jul.06, 2019 in companies A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. You do not have to buy PFA products to work there. SFG specializes in several life insurance markets, primarily the mortgage protection insurance market. << Thats where National Life Group can help. A scam is when you pay money & gets nothing in return but what you get in return is a team of coaches and a business platform that help you build your own business. /Group 55 0 R In December 2006, WGS and one of its brokers were fined $150,000 by Missouri's commissioner of securities for selling unsuitable products to elderly people. Before you give them your money, there are a few things you You have probably heard that the stock market returns 10% in the long run. While this figure is approximately trueat least on a nominal (non-inflation-adjusted) basisit includes the stock dividends, not just the change in the index value. @Financial Educator, former Finance at Wells Fargo (2001-2002). Companies that are members of DSA agree to a code of ethics and to resolve complaints registered with DSA. 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