Is World Financial Group a Scam: WFG Review 2017

Is World Financial Group a scam? That is probably the first thing that you are thinking about if you are currently in the company as a financial advisor, are thinking of joining, or have bought a product from them. The point of this review is to give you my objective opinion on them as well as to tell you my personal story with them.


WFG is about helping out families by giving people financial education and helping families that are otherwise overlooked by the financial services industry. These industries typically look and serve the more affluent and leave the otherwise struggling middle class behind. Was founded in 1991 as WMA after Hubert Humphry left Primerica.

My Backstory

I was actually introduced to WFG back in February of 2015 and left around August of 2015. I actually had a great expereince as far as mentorship is concerned and got a good reference point of what having a good business mentor was suppose to be like. Once I went to another insurance company, I felt lost until I left the industry all together a year later and started my own business online.

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Company: World Financial Group

Cost: $100 to join, supposedly for a backround check

Owner: Aegon (owners are aegon stock holders), Hubert Humphry (founder)


How compensation works

​WFG opperates under an MLM business model where money is made on the personal sale of financial products as well as the sales that your recruits make. The positions within the company are Training Associate, Associate, Marketing Director, Senior Marketing Director, Exeutive Marketing Director, CEO Marketing Director, Executive Vice Chairman, and recently new Senior Executive Vice Chairman (I don’t have the guidelines for promotion for this new position.

The compensation guidelines can be found below:


Excellent financial products

Most companies that offer retirement accounts tend to offer a risky option to most untrained investors (95% of people). While mutual funds are touted as a safe investment over stock, this is only the case in a non-systematic market crash. In a systematic market crash where the whole system goes down, all mutual funds go down because of the influence of supply and demand. The products that are offered by this company allow you to protect your capital during times of economic turbulance.

Represents multiple companies

The company offers various products from Nationwide, Voya, Fidelity Investments,   Alliance, etc. The advisors acts like a third party to each company. This helps the advisor in determining which companies financial products best suit each individual persons.

Requires Licenses

As a result of being a company involved in financial services, the agents need to be licensed in order to give financial advice. This is a company that actually requires that you get an insurance licesnse as well as a securities license if you are going to be offering insurance, mutual funds, anuities, etc.

Can’t get fired*

 This is not a traditional job where you are able to get fired because this is a business.

No Sales Quotas 

 ​This company does not make you see a certain amount of products by a certain deadline an therefore, there is not extreme preasure to close a sale.

*The only exception to the point above is if you are involved in any criminal offenses and especially ones that involve money laundering or anything related to financial fraud. 



​​I mentioned this as a positive in the pros section, but it is also a negative in the fact that if you don’t make a sale, you don’t make money. An extreme way of putting this is: “If you don’t hunt and kill, you don’t eat”

Products they offer can get really expensive 

 Products such as IUL and indexed anuities can get really expensive as far as premiums and monthly payments are concerned. This is one of the drawbacks to a product that has good reward with virtually no risk

Agents can be standoffish if you aren’t performing 

I have had agents that would not even talk to me because I wasn’t making any appointments or any sales.

Products are not something you can sell over and over to the same customer

With other businesses, you can sell products like supplements or skin care products over and over again because they are “non-durable” goods and people will always need them once they run out. With the products offered at WFG, you can’t sell financial products to the same person over and over again because it is a “durable good” and the financial products tend to get pricey as mentioned in the first point.

Differing opinions on what product is best for each age group 

There are three different companies that use the WFG platform and depending on which one you are in, some will say a product from one company (transamerica as an example) is better suited for a certain age group, while a different company that uses the same WFG platform may say that another is better suited for that same group (Nationwide as another). In otherwords, no consistency in opinions between agents.

Who can benefit from the products

Most people who want protection on their hard earned money can benefit from the financial products that are offered especially when you consider that most people are risk aversed and do not like the though of losing money. This comes from the fact that money has a significant impact on the livelihood of many people all over the world as it is needed for basic needs such as food, water, shelter, as well as basic healthcare. However, do not purchase the products if you feel that you can’t afford them.

Who this business opportunity is for

Anyone that is looking to develop sales skills and is willing to learn about both the securities industry as well as the life and health insurance industries. I was recently talking to my stock trading mentor who has observed MLM’s in general and one thing he mentions is that is great for developing sales skills as most traditional companies in corperate america expect potential employees to have 5+ years of sales skills already.

(Tip: Always do your own research into any business opportunity before joining. Try to get as much of an unbiased opinion as possible as I am sure most agents in the company will tell you it is not a scam. Keep in mind that you should always ask yourself if you would buy the product even if you did not join the business)

Who it’s not for

Like all business opportunities out there, not every opportunity fits every person. In the case of WFG, if you are not comfortable selling life insurance products or talking with families about emotional issues like death or leaving a legacy (I know that is uncomfortable to think about), then you probably should not join their company.

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Verdict: Not Recommended

*While I do not think the products are a scam or lousy by any means, I personally would not do the business oportunity as a result of the standoff attitude of the senior agents within the company as well as my uncomfortability selling life insurance products. Also, depending on who gets you into the business, you may not have an excellent mentor and you might feel lost with the business. I would reccomend the products to other people especially if you can afford them and are risk averse to losing money in your retirement accounts.

My Rating:

Thank you for reading this review, if you have any questions or comments, feel free to leave them below.

Did you ever get prospected by the company or asked to join? Did you like the products they offered?

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