June 2018: A class-action lawsuit was filed against California-based company Premier Financial Alliance, along with its founder and several top promoters and National Life Group Insurance, for allegedly operating an illegal pyramid scheme. A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Read More. Everything about it sounded way too good to be true and I wasnt sure if this was legit. Once they pay the $125 membership fee and buy the Living Life IUL policy, Premier Financial Alliance associates are pressured to recruit and sell the policy within their network of friends and family members, typically from the same immigrant group. Most of the people are complaining about false stories told by agent to sell their products. Haley Piper. Lawsuit After Lawsuit Calling It A Pyramid Scheme. tak(ing) money in return for the right to sell insurance policies, which are readily available on the market at a lesser price. All rights reserved. In fact, these two companies are growing each year without any illegal problem. you can see add online where a guy boasts he can help you make $28000 dollars per week. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. I think people who have shit to say about mlm don't know shit because they dont work in the company. Press question mark to learn the rest of the keyboard shortcuts. I actually have heard of this company for 3 years now. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). Press question mark to learn the rest of the keyboard shortcuts, http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam, http://sajha.com/sajha/html/index.cfm?threadid=111838, http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. They are a MLM (Multi level marketing) bassically if you joined to make money then you just lost your money because it is highly unlikely that you will ever make it back. This is a help forum - bad advice will get you banned, and we do not consider "just joking" to be a defense of advice that would be harmful if followed. If you pay for them, you ruin your only profit line. 1st client get 30% commission. Easy account access on the go! Financial security and freedom is an idea that all seek. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. Also if you follow their system, you actually get reimbursed what you pay for, which is crazy to me but I appreciate it. Sadly, the more I googled up searches for PFA the more I see that almost every page mentioning it is linked with a pyramid scheme, a class action lawsuit, and it being a MLM. Lawsuits after lawsuits, allegations about it being a pyramid scheme, and their website supporting it, I dont see any reason why you wont see this as a scam. I would NEVER recommend that anybody join an MLM. No where any company will give 30% commission. 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. this Insurance MLM they are stealing ppl money. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Premier Financial Credit Union. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Disrupting the financial services industry. Another reason is that its challenging. If so why would you borrow what is yours? PFA and WFG are both legitimate company, not a scam. Just personal reference. Did you borrow what you put in? Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. Online, offline, email, or postal. PFA may have privately organized under the Laws of Georgia as a different Knowledgable and experienced mentors with you every step of the way. But what if you could turn that idea into your reality? Company Premier Financial Alliance Seal Team. This is a help forum - bad advice will get you banned, and we do not consider "just joking" to be a defense of advice that would be harmful if followed. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! June 25, 2018. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. A cost-effective option for individuals who seek coverage for a predetermined period of time. Something went wrong while submitting the form. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. Press J to jump to the feed. ", "Before, Iwas making money. This Credit Union is federally insured by the National Credit Union Administration. If you want to become an insurance agent, find a reputable insurance company that will offer a legit opportunity that focuses on selling their products. I believe and know now that PFA has the superior product. Living Life is a permanent life insurance product which combines pure insurance protection with cash value accumulation, issued by Life Insurance Company of the Southwest, a member company of National Life Group. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. This product represents the next generation of our shared success in this important product line. Awesome. $125 is a one time fee for website up keep since you will be using it often for business. Post your questions here and have them answered by people who are knowledgeable about all types of scams. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. Daily lunch (Sept 27-29th) Early check in September 25, 2022. I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. On May 6th an initial case management conference for both cases was held. ChromeFirefoxEdge. I've seen with my own eyes, this company change lives from consumers to their employees. In addition to covering that, today were also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. Its hard, but once you make it, understand it. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. I joined Vasiliy as a writer for Best Lifetime Income blog. Anyway, insurance, from the word itself, means guaranteed or assurance. Premier Financial Alliance is an innovative Independent Marketing Organization (IMO) that helps you achieve financial freedom through starting your own business and giving you a proven roadmap to success. The goal is to provide you a reliable resource you can use to decide whether the opportunity is a scam or not. That was the first red flag but I was bored and curious. Valley Strong Credit Union operates as a financial cooperative. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. Explain to you the system. Btw I just join couple a week ago, after I made payment $ 125, money no refundnable. http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. Only difference? There are fees that you need to settle to become a licensed one and more or less, you need to pay $100 to $200 for this. According to the FTC, if the source of your income heavily relies on the number of your recruits and not on the sales you get for selling their products, its a telltale of a pyramid scheme. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. BehindMLMreviewed Premier Financial Alliancein 2016. Need Assistance? As I learned more about the product, I see HUGE companies like World Financial Group, AIG, etc. So I have to give you personal contacts and persuade them to join the team or to buy life insurance but I wouldn't be making any commission off MY contacts because I'm still "in training" and not a certified life insurance agent yet? theYear = now.getYear(); Is Premier Financial Alliance a Pyramid Scheme? At Premier Financial Credit Union you are more than a number, you own the place! Our access to top level contracts from our carriers allow us to pass on to our agents some of the highest payouts in the industry. PFAs argument that the company and its employees are based out of Georgia was also rejected. 112 were here. Multi Location Business. Once they pay the $125 membership fee and buy the . You can also subscribe without commenting. Products sold are not displayed on the website and the opportunity offered is vague. failure to submit sufficient evidence that plaintiffs affirmatively agreed to the terms of the Premier Financial Alliance Associate Marketing Agreement (AMA) by clicking a box in an online registration form. Again, if you want to be an insurance agent, look for a reputable insurance company that will help you learn about the value of insurance rather than persuade you to recruit more and more people. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. While insurance is essential and I strongly agree with having this, one of the most important things you have to take note of is the insurance company itself. The most damning allegations in the new 2019 lawsuit are the targeting of Asian immigrants, and claim that 95% of sales within Premier Financial Alliance are affiliate purchases. Based on the time value of money, $ 2,500,000 can be by. On August 24th same reason as arbitration make it, understand it are based out Georgia! September 25, 2022 use only | Copyright 2023 Premier Financial Alliance earlier year! Taking a risk ; however, being involved in a pyramid scheme is not one can be by... Couple a week ago, after i made payment $ 125 membership and! Mentors with you every step of the people are complaining about false stories told by agent sell! 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