Experior Financial Group Review 2024: Scam Or Legit?

You’ve probably heard about multi-level marketing (MLM) businesses and wondered if they’re legitimate.

Experior Financial Group is a company set up as an MLM and is one of the fastest-growing brokerages in all of Canada.

I’ve researched the company and want to give you an insight into how it works. You’ll learn how associates make money and why the company isn’t always seen in the best light.

Because of its MLM method of acquiring clients, the company is often pegged as a scam. So why and how is it growing so fast, with over 1,500 employees? I had to find out so I did some digging.

Our Verdict
goPeer Review

Experior Financial Group

Multi-Level Marketing

Experior provides insurance and investment options to its clients. They have a multi-level marketing business style that means recruiting associates and customers, which doesn’t always appeal to the public.

  • The company’s main focus is on training, making it easy to learn and grow.
  • Potential for a solid income.
  • Good buyout package potential
  • It’s not a guaranteed source of income.
  • The MLM style of the company often puts pressure on you to continually recruit new customers and associates.
  • It might not be a sustainable source of income for the long haul.
  • MLM-type businesses don’t always have great reputations.

What Is Experior Financial Group?

Founded in 2014, Experior Financial Group is a tribrid managing general agent (MGA) that assists clients with their insurance and investing needs.

There are over 1,500 well-trained staff members with years of experience in the financial sector. The company is headquartered in Canada but recently expanded to the United States and is one of the fastest-growing MGAs around.

Experior wants their clients to become financially independent, but they also want their employees to succeed.

The company takes great strides to recruit its employees and provide continuous resources and training to enhance its professional growth.

Is Experior Financial Group a Scam?

Experior is, in fact, a real company. They sell real products – investment services and insurance. However, the company does follow a multi-level marketing method (MLM), which can turn people off. It’s also the reason it’s sometimes considered a pyramid scheme.

In a pyramid scheme, participants try and recruit new members into the program but don’t really have an actual product to sell. It is fraudulent and illegal.

On the other hand, MLM companies and salespeople make money when selling the product and actively recruiting others to join. When any of these recruits or “downlines” make a sale, the original salesperson gets a cut.

This type of marketing is often controversial, but it is not illegal. While it can be profitable in the short term, it often isn’t sustainable for the long haul.

How Experior Financial Claims To Be Different

How Experior Financial Claims To Be Different

The public is usually wary of MLM companies, but Experior continues to see growth in its business areas.

The company recently released its 2021 numbers and saw impressive increases in each of its sectors – investments, insurance, and travel. They’ve also set a goal of attracting 3,000 new licensed agents in 2022.

So what makes them different from other MLM companies? How can they continually attract new business and recruits when the whole company setup is largely controversial.

According to the company’s CEO, Jamie Prickett, Experior Financial allows its members to own their own book of business.

Experior has a buyout plan for when a member is looking to sell. They offer 75% of all the residuals coming into the business for a guaranteed ten-year period.

The other benefit to the company is its expansion into the United States. In one of his YouTube videos explaining key differences between Experior and other companies, Prickett acknowledged that once an associate reaches Executive Director status, they’ll receive shares within the company.

He claims that Experior is one of the fastest-growing MGAs in all of Canada, and owning a piece of the company will only be financially beneficial to its members.

So while Experior seems to be moving in a positive direction, will it stay that way? Is it seeing a growth increase because it’s a newer company and not riddled with negative connotations like other more established MLMs?

Only time will tell, but considering its setup like other MLM-structured companies, I’m not very hopeful.

How Much Money Can You Earn At Experior

You earn money at Experior through commissions on products you sell or associates you recruit that buy or sell additional products.

Prickett outlined a first-year associate’s commission in a recent YouTube video.

In his example, he used 50% as the industry norm. So, if an associate sells a $1,000 insurance policy, they’re able to collect 50% of that premium as their commission, so they’d get $500. He goes on to mention that you’d also earn additional bonuses.

The downfall that he glosses over quite quickly is that all new sales associates will work with more seasoned senior associates or managers. Those managers earn a percentage of whatever their new associates make.

The amount of the commission is based on which carrier you sell products through – it can be anywhere from 30% to 60% of the premium paid. This is pretty typical of most MLM type of financial service providers such as World Financial Group or Primerica.

When I first started out as a life insurance broker, I had an 80% contract level to start, and it increased to 140% near the end of my time as a broker, which was in less than two years. This is much higher than what is available to most MLM type of companies like Experior, and what I would recommend you try to seek out for yourself.

Allegations of Scam and Fraud

Experior Financial Group has faced numerous allegations of scam and fraud over the years. The Financial Services Regulatory Authority of Ontario (FSRA) has found that some life insurance agents have been paid for sales made by agents they recruited.

In addition to these allegations, Experior Financial has also faced complaints from customers who feel that they have been misled or taken advantage of by the company.

Some individuals have reported being sold expensive insurance policies that they did not need or want, while others claim that they were promised high returns on investments that never materialized.

Should You Become An Experior Associate?

In the example above, it seems pretty simple to make $500. But I find it very difficult to make a sustainable living working with companies that have this type of business model. It’s possible to have success, but it doesn’t seem like the longevity is there.

Consider all the downsides of the business as well. You’ll have to constantly recruit new associates – everything from family and friends to new clients. If you want to make money, you often need to recruit, and your commission structure is not the greatest.

In addition, these types of MLM companies don’t always have the best reputation. Salespeople are often seen as pushy and aggressive, especially if you aren’t interested in their products.

Just a simple internet search for reviews about the company will show that many are unhappy with its services.

The usual comments focused on associates being more interested in recruiting you than learning about your circumstances or what financial services you actually need.

It’s easy to diminish the company and say it doesn’t work, but there are plenty of testimonials on Experior’s website that say differently.

There are people happily working at Experior that find its setup nothing but beneficial to them.

Employee Perspectives

Some current and former employees have reported negative experiences with Experior Financial Group. According to a review on Glassdoor, one employee described the company as a “SCAM!!” and advised others to “BEWARE!!!” Another review on Glassdoor stated that the company “sucked me in” and that there was “nothing” positive about working there.

However, not all employee perspectives are negative. Some employees have reported positive experiences with the company. For example, one employee on Glassdoor described Experior Financial Group as a “great place to work” with “fantastic people.”

Alternatives To Experior

Build A Skill

I strongly suspect that most people who join Experior aren’t that passionate about investing and insurance, and certainly not sales. Instead, they’re just looking for a way to make some money on the side or at home.

If that’s the case for you, why not build a tangible skill instead? You can learn something like how to code, become a virtual assistant, or proofreader. The possibilities are endless. Check out lists like these for ideas:

  1. Ultimate Guide to Making Money Online: 99 Ideas
  2. 23 Authentic Work From Home Jobs – No Degree Needed


There are plenty of reputable investment brokerages, including banks and other private companies. As for insurance, there are often companies with much higher commission payouts than Experior offers.

Instead of working at Experior, 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 Experior has. You won’t have to worry about the bad reputation that MLM’s seems to have among some consumers. You will also get trained up at these brokerages.


As a consumer, there are countless other options for you other than Experior:

For Investors

If you need a little bit of advice, you can look at my top picks for the best robo-advisors in Canada.

If you’d like to become a do-it-yourself (DIY) investor, sign up for an online broker and learn how to invest on your own. Here are my top picks on the best trading platforms in Canada.

For Insurance

For Canadian life insurance, I would recommend checking out PolicyMe. They’ve recently created their own products and offer them at very competitive rates. Check out PolicyMe’s website for some free quotes.

Finding an Advisor

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. Do a search for a “fee-based financial advisor” in your area. Try to find one with a Certified Financial Planning (CFP) designation.

Final Thoughts

Experior Financial Group Review

It’s easy to get sucked into the allure surrounding a company like Experior. It seems simple to make money and help people in the process.

I’ll admit that Experior doesn’t seem as bad as some other MLM companies. However, I’m skeptical of MLMs as a whole and don’t think Experior is that much different.

While it’s certainly possible to be successful while working for the company, it’s not something I’d choose for myself or recommend.

Instead, there are many other reputable financial and insurance companies to work for or invest with.

If you want to learn more about another company that’s often thought of as a scam, check out my World Financial Group Review.

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Author Bio - Christopher Liew is a CFA Charterholder with 11 years of finance experience and the creator of Wealthawesome.com. Read about how he quit his 6-figure salary career to travel the world here.

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4 thoughts on “Experior Financial Group Review 2024: Scam Or Legit?”

  1. My issue with your article is that (1) you are calling the people who work for this company employees. They aren’t (except for the head office admin). They are independent insurance brokers able to contract with multiple insurance companies. (2) They are paid by commission so of course it is harder than a 9-5 hourly job to make money but there is also no fixed ceiling stating you can only make a certain amount. The harder you work, the more you make.
    (3) You also failed to mention that they make trails on insurance policies that remain in force which becomes a growing source of passive income on top of their regular commission sales.

  2. Hi I would like to point out a few issues with this article:
    1. This company was built BECAUSE of companies like Primerica and AIL false advertising and treating their clients like crap. My husband has been in the industry for over 8 years and I have also worked for AIL. Those company are captive agencies. You don’t own your Book of Business (Primerica will claim you do, lawyer has confirmed you do not). If you’re working with Experior and you decide to quit? You take all your clients with you. You’re an independent agent. There is no push for hiring but encouragement.
    I was only a few weeks in with AIL and had no sales yet was expected to hire and train (Manager threatened to terminate my contract if not). Don’t get me wrong, they do offer OK training depending where you go.
    Experior on the other hand? I mentioned I didn’t want to build a team and it was never mentioned again until I decided I was ready.

    2. Compensation: you claim the Compensation structure is 50%.
    Here’s what you failed to mention – as an FA (first 5k in business) you will earn 50-55% on a sale + 40% additional bonus on that. As an SFA (after the 5k) you go on to earn the 55% + 60% in bonus. As an ED you end up with well over a 100% of the sale and that can all happen within months

    It’s easy to put all these companies in the same boat. But this is the first company where I can actually feel peace about the fact that I can offer my clients the best deal. Clients interests go first.

    All the best! 🙂


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