pfs investments pyramid scheme
Good thing I have learned from Dr Phil! MAIN ADDRESS. Awesome reviews everyone! Laws have been put in place to prevent this flawed business scheme . OMG This is soooo true. NOT TRUE!!! i said Look ill be honest with you, Im a very cynical person. Ill text the woman tomorrow to cancel since she made it clear that she had her phone on 24/7. Something like, I really dont understand why you felt you had to lie to me initially. Its not what you are told that is important, but rather what they arent telling you that really matters. I therefore come to this upcoming information event with a favorable impression of the companys products. You have a manager a supervisor and an employee. It was in that meeting yesterdayand only after I mentioned that I had once considered working for Primericathat my agent invited my husband and me to attend this upcoming information event. I have been invited to go to their local stoughton office for the meeting where i would be taught getting out of debt tactics while making $$; spoke about how his son was making 37k a month, his other son having a house built blah blah blah. Ponzi schemes simply require a cash investment to earn returns. And yes the higher ups do benefit from your recruits they arent going hard for no apparent reason and they will convince you they are blue in the face that Primerica will help you build your own business within a business. I want to shake my head at me too. A very tan/slightly burnt, attractive young 20-something came in and spoke to the receptionist for a minute about her Florida trip and went to the back where I could now see more middle-schoolers, all dressed like they were ready to model for a Kohls back to school sale flyer. I knew from the phone call that something was wrong. They would contract with these companies to offer customized plans that are not offered if you the customer dont go through Primerica first. How BBB Processes Complaints and Reviews. The reason for a lack of business card is actually the business model of Primerica. Why? The conversation gets deep, takes philosophical turns. Blah blah blah. B . I spend my time with people who show up. Another pause, then I saw his face relax a bit as he gave directions for the office and set up an interview for 6:30pm that night. The program is administered by Legalshield (formerly called Pre-Paid Legal Services), which is the largest provider of pre-paid legal services in the United States. ?, Dont you want one of these nice vacations? It seems the main issue was the lack of transparency by the Primerica reps when discussing the opportunity and the tactics used to get in front of the prospect. Mike No matter what they tell you, MLM is not a business. The graph had 1 gent at the top and every subsequent tier had exponentially increasing members making exponentially less money. My interviewer brought me back to a conference room with a glass wall facing the rather short, narrow hallway connecting the reception area to the back room where the party was. I spent an hour on the phone with Vice Presidents in three different areas. She then insisted on calling me on Wednesday to remind me of the appointment and said I was lucky because the vice president would be there on Wednesday -_-. He didnt even tell me the company name, I found it on his profile when I scoped him when he requested to add me, that he was a regional vice president for Primerica. To all of the above comments and so called pros in the MLM companies, to each their own. There was a Prime America in the office building I currently work in, and I cant tell you how many young, eager, looking people would pull up looking nervous right before their big job interview. Hey Alex, this isnt the first time and wont be the last time a crooked company has rung the NYSE closing bell. Everyone should ask regulators to look onto all unethical part of lies of this legal but totaly unethical recruiting taliban mashine!!!! Still, no alarms. Presumably because the recruiting pool is getting less and less educated. He said he wasnt interested and she stopped him by saying that she wouldnt take no for an answer and proceed to schedule to come over to explain the details of her opportunity, we exchanged numbers and walked away since my husband was annoyed with the lady already, we bolted from the store and went home to google the name that i had seen on her sweater and we came across this post, after reading all of the comments my husband txt the lady to tell her that he was not interested in what she was offering and she responded with like three emails back to back insisting that she come over with her husband to explain to us what they do, since she was so vague at the store. I am saddened to read this. Question Whole life insurance is not fraudulent. Never realized Primerica was an MLM until reading what Tracy has posted. Thanks for all the information. So how did my interview go? So I bit and went to the interview. Here we go another scam, let me play along The gentleman got on the phone, I think his name was John, again muffled but I really didnt care what his name was, this wasnt going to last very long. NOT the other person. If you could imagine all the evasive answers and asking me if I want to do an application. Thank you for providing this information! I think not! Go get a real job and stop preying on innocent people trying to get ahead in life. Sitting there listening, my mind went back to the phone call that him and I had, when my interview was booked. ..so i asked her if its such a legit company why do I have to pay for my background check and why is there so much secrecy and then sign of primerica is most outside. This other guy was pleasant enough, introduced himself and politely shook my hand. I feel deceived, and I feel like my classmate & her boyfriend are being deceived also. 2018 Sequence Inc. All rights reserved. Not going to the interview tomorrow. It was nice how they fooled some people but I was ready to go after 5 minutes, it reminded me too much of cutco knives sales pitch. Its also sad that what is posted here is TRUE. but after reading this I wont be going. Now, I really did enjoy speaking with the woman and we got along great, but the whole thing did sound more like a sales pitch than an interview. I think this is clear that the guy on the top makes the big bucks. Like everyone else here, I also got the call and the woman said that I was Highly qualified for some positions she was offering. I believe the only way to get ahead in America is by entrepreneurship, MLM and/or Franchise if you can afford it truth be told, if you think about a PYRAMID, you could look at your job as one. (Thanks to all post-ers). Time and again, we see these lies and unethical tactics used to lure people into Primerica. He was bringing us all down about our current minimum wage jobs or the ones that were unemployed and started to brag about how much money he made. Funny thing is, the first 20 times I heard this same spiel I was envious of his life and attracted to the lifestyle he proclaimed was not only possible, but a given if one followed his leadership. After attending a couple of the information sessions myself. I asked her who referred me and she said they interview 30 to 40 people a week and that my name was on a list. He told me he worked with Primerica before it was Citigroup, and to hear that made it sound great because Citi is a huge opportunity in my area. Because who wouldnt want to make money a % off ur recruits even when your not there to make the deal.We scheduled another appt. Yes so would you call NYSE a scam? (unlike this whole description of events, I kept things brief) She told me to wait in the conference room as she grabbed the other woman who had come in to interview her. I know my story sounds the same as many others go figure, right, these guys seem to work from the same playbook but I figured Id add mine. But a million questions arose when hed finished describing what it was he did, as he never quite cut to the chase of what Id be doing for the company. Thats how I found this site. When I ask again what is the role of being a customer service to the company, all that he is saying was that I will be talking to their clients. Aww. We talk for a second longer, she makes a point of showing me her expensive car and vanity plates (I realize now how often she was trying to make displays of wealth from the moment I met her). There is no rational benefit to buying insurance or mutual funds from Primerica today. Each year, millions of people work hard in MLMs and do exactly as theyre taught, and they still lose money. I joined Primerica in 1999 for about 5 minutes. Its entrepreneurial in nature and that needs to be discussed and made clear. He said there would be training and thats what my friend was getting into. Told me to bring my social insurance number with me, because if I pass the info session they would like to start to work with me right away The red flags popped up when she mentioned what the massive amounts of money people save, from paying 14 years of loans in 5 years is mathematically impossible for the average middle class consumer. Thanks everyone for your honesty! Primerica asks their reps for quite a bit. The location seemed extremely sketchy too. Your financial situation is unique and the products and services we review may not be right for your circumstances. Im sure people are saving money, but something doesnt feel right. I get NOTHING from writing about multi-level marketing scams. But again, Im still chewing on this and your thoughts on these matters are appreciated. She lost her job and became an easy target from a fast-talking recruiter that filled her head with a pipe dream. Suck my ass. PYRAMID SCHEME. I walk around the corner and watch her drive off, then quickly whip out my phone and Google PRIMERICA. If your goal is sales, join a traditional company. Its not for everyone! Why dont I just go for this so-called interview, gather the information they want to give me and make my own decision as to if its something I want to do or not (like Charlotte did). For instance, he said Whats your favorite restaurant? I said yes just to help her out. On the day of the interview, I drove to the adress of where the interview was, I expected a big company with a sign of the name or something. I just got off the phone with some one by the name of Kelly Marie from prime America she was very anxious to have me come in for an interview. Very very glad I read this. I was looking for work on Craigslist and came across a post for motivated self-starters needed for an up-and-coming financial firm. I was so flattered! But Ive been coming up with excuses why i cant meet back up with him because things just didnt seem right after i left that 1st meeting. (Of course, I would also counsel any folks I recruited to the effect that starting with Primerica part-time is the route to avoid disappointment.). Unfortunately, almost everyone in pyramid schemes lose money. MLM, in contrast, is a scam based on the recruitment of people into an opportunity to recruit others its endless chain recruiting and thats a scam. Thirdly, in a real job I wouldnt be so terrified that the person would think its a scam and I wouldnt care if they came on board or not. 3.) I read the story that was provided above and a handful of the comments. That is why the poor get poorer and the richer who work there ass off get richer! For only $99 you can be licensed to sell insurance to others with us. I asked him if i got the license would the job be guaranteed and he said yes. 1. transfer job locations to my home time and end up getting paid a little more + be with all my family + be happier. What agencies would handle this kind of thing? One day I am opening the bar where I work a dive bar in a very low income neighborhood. She told me she would call later that night, but it was about 2 hours after the time she originally said. I said that I was exclusively looking for Purchasing/Procurement roles as I was a buyer. * What is a pyramid scheme exactly? He asked if I had heard of Primerica. The receptionist and her shared a vague facial resemblance. I gave them my information, and even the information from one of my credit cards (which Im afraid that they will still use even though Ive already called & told them to shred/dispose of the information!). I decided to see if Id be sucked into doing sales but it wasnt mentionedthough a lot of hinky things were. I have been in touch with the funeral director that handled the services for my father off and on. Agents make outlandish income claims that consumers can make more than $1,000 weekly in the scheme and earn bonuses of tens of thousands of dollars. The critical difference between network marketing and a pyramid scheme comes down to the products and services they offer. While many financial professional aren't interested in working with the middle class,* Primerica is committed to helping Main Street families save and invest for their short-term and long-term goals. My resume is purely engineering, not sales. I totally see it now. Sell any and all medications over the world. I noticed other people my age, mid-20s, walking into the office fronts around my destination. I would advise this company to improve its product and recruiting tactics to avoid getting continued poor publicity. When I stated that this was just short of a pyramid scheme and that my last interview with the company (5 years ago) resulted in someone wanting me to buy over $100 worth of licenses, they had nothing to say. What would happen if I cancelled the whole thing? Just googled to know about the company and landed on a right page. Then again two days later. If you have been invited to an interview, I can tell you that someone cared about you. I went to the interview and I payed the $99 and they have all He invited me to this thing some orientation and was like being your parents Im sure they could learn something and Im like did this man just insult my parents intelligence. But the point is, even then they required a fee to be hired. Are you looking for a Primerica review to determine if the insurance company is a scam, multi-level marketing company, or pyramid scheme? does anyone here even know what a actual pyramid scheme is? I was brainwashee by Islam and than when finally was free away from and than this so called god/family/business cult comes along Oh how sorry i am for my 10 years of life No way was a guy with $20,000 in debt able to cough up even $500,000 after 3 years if their figures were correct. 100% commission pyramid scheme? I wouldnt say I was victimized. Its all true. Wow was not expecting it to be such a rabbit whole. My brother-in-law has been very successful selling Insurance through a smaller company, Modern Woodmen of America. But im not stupid so i looked it all up what the job was and where it actually was and this seems to be all true. my business. You should really just target people who dont mind selling this way instead of rounding up a large number of people to attend presentations. I was an Amway distributer years ago. Law sued and primeica paid millions of $ to keep it dl . I realized, if success at PFS meant doing this forever, I might not make it. I figured she hired her son to do her social media campaigning and he was just barely starting/lazy. I decided to research the company ahead of time and it lead me here Might i ask the opinion of those whom have dealt with this company: my experience thus far, sans interview sounds eerily similar to some other accounts Ive read here. They offer insurance, investments, debt consolidation, and financial advisers. Primerica is a SCAM period. You are followers, not leaders, and Primerica is looking for leaders. Finally they called me in the most boring, plain, unprofessional office ever. He first asked me about past employment, what im going to school for (Chemistry major), my hobbies, etc. Furthermore, in order to get into a hedge fund, one has to invest more than a million dollars out of pocket. She gave me this speech about how she is the General Manager and that she was opening various locations and needed people. Trust me, there are plenty of people who dont mind asking friends and family to buy something their selling. I wanted to be pumped but I found it hard to ignore the fact that John had blatantly lied when the professional-looking man had asked if there were any additional costs other than the $99. I went to the office the next day and talked to the rvp and told him what I knew..his wife was there and was furious. Multi-level marketing. Suddenly a laminated informational booklet comes out for PRIMERICA. We have 40,000 new clients each month if you joined and didnt work, youre not one of the people who make money with us! Why would you not want to help your friends, family, and referrals with this information? And again, its only gross revenue and doesnt include the costs of doin business theyre all responsible for out of pocket! Asked for my phone number, stating that while he didnt know my situation, he would be interested in offering me a job. Jorge Exactly what is false and untrue in this article? NO, I was special and needed to join and they offered to pay my fee, the $99. The activity on this thread keeps the page at the top of Google searches for common phrases related to Primerica. I remembered now, although I didnt pay attention then, how defensive he had gotten as he told me he was too wise to throw away money on a car. What might those be? I agreed to meet with her the next day at 6 pm (again another red flag). Anyway so he was trying to down play my job and whatnot and get his point across talking about its a good opportunity, dont you want to make more money and yada yada yah. However, Im wondering if that might be an acceptable trade-off for me, if this setting offers the gradual training and the part-time opportunity (at first) that Im seeking? Fortunately, my paralysis didnt last long. I got there 15 mins early they kept me waiting for 30 while having a buddy conversation. Once he started pitching me it was all very clear why. I had no desire to pursue such a career related to insurance, as I prefer investing. Googled my way here. THANK GODNESS I LISTENED TO MY INTUITION!!!!!! When I laughed at her question, she assured me it was because she wanted to know about my credibility, although she failed to explain how where my family lives illuminates anything about my character Clearly, they are looking for people with family/friends to pitch their products to. Do not get suckered in, I was lured in by a friend that saw I was making pretty good money and figured 100 dollars to start isnt too bad for me. life insurance pyramid scheme companies. Wake up people, youre just blind ?! I am so ashame to be same species as John adison and glen williams . What deity do these two preachers represent? I immediately searched the company and came across this page. How did she get my information? If you didnt get the license or actually go on the field then you know nothing. He went on to make about six more calls, each leaving me a little more tense than the last. In light of this information, I will be canceling. Were talking about widespread abuses such as this. I went with desperately expecting to land a job . I am not unemployed and actually own my own legitimate business. I tell her I would like to do more of it. No rebuttal, just got off the phone. A page comes up that seems to refer to that but it quickly goes away and the main Primerica website comes up. When I enquired further about the details of this opportunity to make extra income as my schedule permits He responded to me telling me that I would be licensed with my state and I would serve as a financial GPS Lol. I was wearing a ring on my fourth finger (its the only finger it fits) and she asked if my husband had a job, so I went along with it and said yes. He mentioned the company would pay for license and classes and would like for me to start working part time for 5 hrs a week these next few months. Even the classes were weird and subpar. I start to feel under-dressed in my khaki pants, short-sleeved button-down shirt and silk tie. Be aware, I messaged on Facebook, and the account had comments saying Hey man, I think your account got hacked Ive been getting odd messages from you. They saw my FB updates about needing a little more income to start some entrepreneurial type things I was interested in. etc. They provide financial education and sell products through a network of individual associates. Ive spent 175$ in total so far. However the comments of one man on here did not sit right with me. Im canceling my interview for tomorrow. The recruiter may actually be vague in most cases when trying to get people to come check out the company but that doesnt mean they the information you will get about saving for retirement, etc is false or lies. He then mentioned that my job was a pyramid, and asked if it would ever be possible to get to the top in my company to which I responded, ABSOLUTELY!!! Customer Service PFS Investment clients with Legg Mason, Invesco,Fidelity, American Century, Amundi Pioneer, Nuveen and Franklin Templeton funds may check their accounts here. The 'Private Investment Club' conference had everything: a host demanding people pay for 'VIP' access, weird pyramid diagrams, "plerking," and a celebrity guest who clearly didn't read the memo. Realized after I had no idea what this is, and noticed he mentioned a group thing which made me suspicious. However, when I suggested that my previous experience would leave me worthy of positions like Business Analyst, I was informed that those positions were only available in the corporate office located in Georgia. It was no way a job interview. epipens, and or anything that a person needs to have to live and is stupid expensive. Im kind of worried they have ALOT of personal information about me. The business of Primerica Reps is recruiting other reps. Everything I am reading in these comments sounds almost exactly like my experience with them. Many, many years ago, when it was A. L. Williams, I was approached, and even attended one of their informational sessions. As an employee you will never make as much as your Manager and your Manager will never make as much as the company owner, right? Primerica is regulated by the SEC and FINRA. It looks like even the Better Business Bureau has a number of complaints lodged, about this company. For the second time since I had gotten here, a warning flag went up. They said they would need my bank information. Currently my interview still stands, I was apprehensive since Ive worked exclusively in retail but excited to explore a new field of work. I went for the so called interview today and was completely confused and turned off.
