World Financial Group (WFG) Review: Scam or Legit? (2023)

If you’re reading this article, chances are you’ve been either approached to buy a World Financial Group (WFG) product or to start working for WFG as a financial advisor. 

You might be curious but may also be wondering: Is World Financial Group a scam? 

You’ve probably heard whispers about this from other friends or colleagues warning you that WFG is a scam, which I believe is a common occurrence. 

In the finance industry where I had worked for over a decade, World Financial Group doesn’t get a lot of respect amongst its peers. But as of 2022, WFG has over 53,000 associates working for them. In 2021, WFG paid out over $1.1 billion in commission to its associates. 

Say what you want about the company, but there’s no denying that it is a huge global force and one that requires close examination. Let’s review this World Financial Group (WFG) review to see if it is a scam or legit.

Our Verdict
World Financial Group (WFG) Review
4/10Our Score

World Financial Group

MLM Financial Planning

WFG has a multi-level-marketing method of promotion and recruitment that can turn both customers and employees off. Read this WFG review to find out if it’s a scam or legit.

  • The marketing and sales system is likely effective as WFG has impressive sales numbers, and you’ll get training on their tactics.
  • Multi-level marketing (MLM) strategy is seen as a pyramid scheme by many and can be a difficult objection to overcome when trying to close sales.
  • Reports of high pressure to recruit other associates to work under you
  • Very difficult to make a lot of money using an MLM strategy, with only a small fraction of members finding long-term success.
  • You could become a social outcast if you are too aggressive in selling to your family and friends.
  • There could be a conflict of interest as the WFG associate might try to sell you a high-commission product that isn’t necessarily well-suited.

What is World Financial Group?

WFG is a company that sells financial planning services. The company sells savings, insurance, and retirement products through its associates, who usually have to pass a licensing exam for the country they live in. 

The company was launched in 2001 by an insurance company called Aegon. In 2008, another insurance company, Transamerica, purchased WFG from Aegon. The company operates in Canada, the U.S., and Puerto Rico. 

Is WFG a Scheme or Scam?

World Financial Group Scam

I wanted to answer this question right off the bat. In the literal sense of the word, no, World Financial Group is not a scam. The company will not take your money as a customer and give you nothing in return. That’s what a pyramid scheme is, and WFG is not that.

If you join the company as an agent, you will have the chance to earn an income and need to be licensed in order to sell any of these products directly. WFG is approved and regulated by the financial governing bodies of the countries where it operates.

However, where many people are turned off of WFG and wonder if it is a scam, is due to its sales tactics in acquiring customers and multi-level marketing (MLM) methods of hiring agents to work for them.  

How Does WFG Hire Associates?

WFG employs a Multi-Level-Marketing (MLM) business model for its associates. The way it works is after you get hired onto WFG and pass all the licensing exams, you’ll have to recruit new associates. 

After you join WFG, you’ll be encouraged to get off to a “fast start,” where you are supposed to recruit three new members and sit in on three training sales within the first 30 days of the company. 

This aggressive approach to recruiting new members sets off alarm bells in my head. Getting these new recruits and associates is another type of sales tactic. 

Any products that those associates either buy themselves or sell to other people, you’ll get a percentage of the commissions. A lot of WFG’s sales come from its associates themselves. It’s a classic MLM business model and one that should be a huge red flag in choosing to work for WFG. Their own website shows the multi-level shape of their business model. 

world financial group review
Source: WFG website. Their own website shows the multi-level shape of their business model. 

How Much Money Can You Earn at WFG?


You will only receive money as a commission if you sell something at WFG or if those associates you recruit under you buy or sell WFG products. 

Even ignoring all the negative connotations that come with MLM companies, I’ll give you an example of why WFG is not a great place to work. Let’s take a look at the WFG contract levels, which is the amount of commissions you can earn for say a product like life insurance. 

If you have a contract level of 100%, you will earn 100% of the first-year commissions on top of what your commission structure is. 

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. 

According to a previous year’s compensation report that I found (which I can’t link to due to copyright claims by WFG), a WFG Associate contract level is a measly 36%, a Marketing Director contract level is 51%, and a Senior Marketing Director contract level is 64%.

Note that this may not be up-to-date information, as the report was a few years old, but I believe it should give a ballpark estimation. I’ve also had some WFG people reach out to me directly, and the contract levels they have mentioned seem pretty in line with those numbers.

There are other better and more reputable brokerages out there. If you are willing to get licensed, they can also train you and support you better than WFG and give you a larger payout. 

Also, don’t be fooled by the WFG website, which states that the average earnings for someone with 0-3 years of experience is $88,075 per year. This is for a Senior Marketing Director if you read the fine print. The average new associate who joins WFG won’t make even close to this amount.

How Does WFG Get Its Customers?

WFG relies on its associates in two main ways to get customers. Firstly, any of the products the associates themselves purchase essentially turn them into customers. 

All those new associates will be immersed in WFG products and culture, and many will end up buying products themselves. Then, many are taught to aggressively try to get more associates, spreading the WFG product line and sales almost like a virus as it multiplies down the levels. 

As an associate, you’re expected to make a list of all your friends and family and approach them to sell your financial products or to recruit them as an associate for WFG. 

But that is typical of all MLM financial companies, and I don’t want to knock WFG specifically. They aren’t doing anything illegal, but I just think it’s a terrible business model for both customers and associates, and there are so many better options out there. But it obviously works, as WFG has a tonne of sales. If anything, this just shows the power of “warm” leads and buying from people that you know and trust. 

As a former sales guy, I think that WFG must have an extremely effective pitch for new members because it is obviously working and getting results. But as an investor or insurance purchaser, I would never hire a WFG associate. 

I get it, though; investing and insurance can be intimidating. If you’ve never worked with numbers or cared about your finances before, the whole process can be daunting. But consider putting some time in, learn how to start investing, and take control of your own finances. 

If you need to hire an advisor, try to find a properly trained fee-based one, and one that won’t just try to charge you an annual fee on your investments and never speak to you again.

Is WFG a Legitimate Company for Customers?

Yes, WFG is a legitimate company. If you purchase an insurance or investment product from them, you will receive the product.

But beware, you may be pressured into purchasing expensive products that may not be the best for you but will earn the associate selling it a big commission, such as permanent life insurance or segregated funds. There are numerous anecdotal accounts of this happening; just scroll through the dozens of comments below this article (some even state that “WFG ruined my life!”).

Often, the associate you are dealing with may not have much financial or investing experience and will likely try to recruit you to become an associate also. 

As a former life insurance agent and financial advisor, I can understand the success of WFG. The secret to WFG is its method of using what we call in the industry “warm” leads.

You’re much more likely to buy or trust someone that you know. Multi-level marketing relies on this, and you’ll see it applied to many different businesses, the most successful one probably being Amway.

Have your guard up, and if WFG is pitching you something, don’t be afraid to ask tough questions like “what will you get paid in commissions on this product?” They are legally obligated to tell you their financial incentive; if they don’t reply, that’s a big red flag.

Should You Become a WFG Associate?

MLM/Multi-level marketing

In my opinion, it is very difficult to make money with this business model. Yes, there are some success stories, and in its marketing materials, there will be descriptions of people getting rich at WFG. However, it will be a very tiny fraction of the overall recruits. 

Sure, if you’re willing to hustle your butt off, contact all your friends and family, and aggressively pursue new sales prospects then yes, you might be able to find success with WFG. But if you’re this much of a go-getter, why would you stick with a company like WFG? 

You’ll also risk damage to your reputation and maybe even your personal relationships. WFG almost has the same negative stigma as Amway does. You could become known as the “pyramid scheme” person behind your back and might be avoided in social situations. 

Why I Hate MLMs

I’ve been pitched multiple MLM ideas over the years, ranging from smoothie drinks, painting business, Amway, and many more. Here are some of the reasons I hate MLMs

  1. MLM pitches are annoying and misleading and always sell the same kind of story: be your own boss, recruit three other people, and they will recruit three more, then you’ll have hundreds of people working for you, all while making money on whatever they sell!
  2. If someone I know pitches me an MLM business idea, it makes me think less of the person and want to avoid them in the future.
  3. While selling something like smoothie drinks is relatively harmless, having this business model for something so vital as investment products could have a direct harmful impact on customers by not having properly trained advisors that have your best financial interests at heart.
  4. It’s very difficult to climb to the top of an MLM company and actually start making really good money.
  5. Any business model that places more of an emphasis on recruiting new members rather than customer needs in order to make money is one to be cautious of. 

World Financial Group Alternatives

Build a Skill

I strongly suspect that most people who join WFG 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 brush up on design skills, then freelance your services to clients. The possibilities are endless. Check out lists like these for ideas:

  1. 25 Authentic Work From Home Jobs – No Degree Needed
  2. Ultimate Guide to Making Money Online: 100 Ideas


Instead of working at WFG, 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 WFG has. You won’t have to worry about the bad reputation that WFG seems to have among some consumers. You will also get trained up at these brokerages. Contact brokerages in your area to see if there are any opportunities or see if there are any job postings on sites like Indeed.


As a consumer, there are countless other options for you other than buying from WFG:

For Investors

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.

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

For Insurance

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

Another life insurance option for Canadians is PolicyAdvisor. You can compare 20 different insurers very quickly and get the best rates. They have more options such as term and whole life, disability, and critical insurance you can choose from. Check out PolicyAdvisor’s website for a quick comparison of 20 companies.

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. You can also search on a site like Money Coaches Canada for a fee-based advisor in your area.

Has WFG been sued in Canada?

Yes, WFG has been sued in Canada. Here are the details of some of the cases:

  • In 2014, WFG Securities of Canada Inc. agreed to pay $250,000 to settle a case against it by the Manitoba Securities Commission.
  • In 2022, WFG terminated an agent’s membership agreement and the agent was served two administrative monetary penalties.
  • In April 2023, the Financial Services Regulatory Authority (FSRA) issued a notice of proposal against World Financial Group Insurance Agency of Canada Inc., alleging gaps in WFG’s operation and ongoing proceedings by another regulator against WFG.


While WFG may not be a scam, I wouldn’t personally ever work or buy any products from them, nor would I recommend any of my friends or family to either.

I believe there are so many other better options in terms of choosing a career or buying financial products. 

When I wrote this article, I wanted to get to the bottom of WFG’s success, despite the many complaints I’ve heard about them.

I want to end this by saying that not all WFG agents are bad, and it wasn’t my intention to paint every person there with the same brush or to cause so much anger in what I wrote.

There are competent, honest, and intelligent agents at WFG, and I’ve interacted with many since publishing this article. I’ve also interacted with some fairly nasty ones as well.

I’ve edited content in this article that I didn’t deem accurate after a rational argument and facts were presented to me, but my negative opinion on financial MLMs still stands.

If you can avoid all of the bad agents at WFG (and there are a lot of stories about unscrupulous agents, see the comment section below or on my Youtube video for some horror stories!) and find a good agent that you can trust, then you might be alright with buying products at WFG, but I still feel there are better options out there.

There are two extremely divided sides to this argument, and I hope that this has helped to spark some conversation between them.

If you want to learn about other MLM companies that you might want to avoid, check out my Primerica review, or my Greatway Financial review.

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

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247 thoughts on “World Financial Group (WFG) Review: Scam or Legit? (2023)”

  1. Who paid you to write this article? This article is incorrect. I am a long tenured WFG agent, many years. My agency does not pressure anyone into purchasing their own policy.

    We create professional referral relationships and tap into those markets (presentations for doctors, teachers, etc.).

    We teach people about the rules on their 401k, IRA, and insurance. We do that all for free, we dont charge ANY consultation. We dont get laid for recruiting. We get paid for HELPING people, teaching people.

    This article is defaming a company for what? A handful of bad interactions? Guess what. In the real world, that happens at every company. I won’t put my contact information, I dont want YOU scamming ME.

  2. WFG is an educational Base Company. In my Career as an Oil and Gas engineer I made a lot of money but no one means no one Banks , insurance companies sat with me to teach me how money works, but it’s only WFG which is company which teaches you the financial concepts irrespective of your background. Only this company cares about people who make less money than usual society.
    I feel working with this company I got the purpose of my life to work in financial sector honestly speaking guys this company is giving normal people to become exceptional in their Life.

    I support WFG from heart and soul. ❤️

  3. I agree 100% with you. WFG is changing families lives daily, and family legacy’s by creating generational wealth. I love working for them compared to the 12 years of the Corporate chains. I now have the time freedom to make a difference in my community and create wealth for my family! This person may have a bad experience, but it’s very unfortunate. Doing something that you have no passion in is a scam. WFG is amazing!

      • WFG works with insurance companies like IA and Equitable, both of these companies offer Whole Life and universal Life policies. The Investment portions are invested in the same places most banks keep your money.
        I bought a UL through a wfg agent and I get between 6-10% annually in my accumulation fund.

  4. The concept of a pyramid scheme is obviously shown here and in the video. The takeaways are that it’s not funded by imaginary investments but rather offers products to fit others needs… of course at a higher cost because how else will the company earn profits and be able to pay their agents.

    I won’t go too into detail but the part that’s viewed as a “pyramid scheme” is the recruitment (branching and expanding) and although the methods may not be unethical, the concept is. Many companies do this and it’s not illegal but can definitely be seen as immoral. Transparency is key only if it’s 100% without withholding information as that just leads to others being mislead and then later irate when their results fall short of expectations. In turn, negative reviews and false accusations.

    All I can say for the outsiders looking in is; do your research, take everything with a grain of salt, and if you find hesitation in your decision, trust your gut.

  5. I wasn’t interested in working for this company, but I was thinking about meeting with one of the people (an acquaintance) about how to help me get out of debt. I’m a Dave Ramsey fan, so, thanks to your informative article, I will tell the acquaintance that, never mind–I’m not interested.

  6. A big scam and unreliable model that accelerates selfishness, high pressure sales tactics without assessing customer needs. My wife is a wfg agent and she built one strong leg. The immediate agent under her got promoted to an MD leaving her as an associate with her only leg of active agents robbed from her. Her MD/SMD/CEO did not consult her while taking her leg away and assigning it to themselves. She is now depressed and has lost faith in the system. After two years of being with WFG, her earnings are a big fat zero. All commissions were taken by the MD/SMD/CEO although her leg produced 40K+ points

    • What???? That just isnt how WFG works 😂 You cant have a promoted MD underneath you and have a associate contract.

      Your wife isn’t telling you the truth or she simply doesnt understand.

      There are MANY measures in place that inform the leg of an SMD that their MD is being promoted to SMD. That is moreso what you are talking about.

      Again, more ignorance and defamation for what?

  7. It’s really unfortunate that the author is slamming a company that encourages people to regain hope in taking their finances into their own hands and instead encouraging people to trust “robo-advisors” and policy generators..
    I know from experience that the online advice does not work.
    I know from experience that not all insurance agents have the consumer’s best interest in mind.. author included.
    If the consumer’s best interest was in mind, you would have said something like:
    WFG is a platform that allows anyone with a clear criminal record to try to build something for themselves and future generations. Some people use this platform to recommend products that are not good for the consumer in order to raise their own income, and WFG is not exempt from those people.. in fact, selfish and greedy people seek out WFG so they can make high income and quit before there’s any chargebacks to be had and any licenses to lose.

    I first was introduced to WFG over 3 years ago. I had a similar reaction to the author of this article. The agents I met were self-centred and wealth oriented and had no intention of getting to know me or my family’s needs, just wanted me to be another number on their chart. Very similar to how I thought everyone who worked in finance behaved.
    I was re-introduced last spring. I was cold, I was closed minded like the author is, I wanted nothing to do with WFG or “their products” (WFG does not sell their own products). Because it was a friend, I shut my mouth and listened to the advisor she had found. I can now proudly say that I’ve fired my Canada Life advisor and I have a WFG advisor now.
    Because he actually cares about me and my family. In fact, he’s organized a free sleep seminar for me and anyone I know with a company he had hired in the past all because I often can’t meet to learn about and improve my financial situation because of young kids fighting bed time. (That’s a long run-on sentence, let’s not discuss it)
    Because he helps me look at all areas of my life (not just life insurance) to find things we can improve and helps me make an action plan to get there. It feels like the agents at WFG are teaching me how to float while I’ve been fighting for my life treading water with nothing but the doggy paddle.
    I had an employer tell me to contact our local homeless shelter for tips on how to survive inflation rather than giving me a raise. The CEO of that company didn’t blink twice when I asked for help after he encouraged employees to reach out to him for help. The “pyramid” of WFG is wayy less of a pyramid than the corporate models that we all fight so hard to get into..

    In my humble opinion, the validity of a company should be based on how many people they encourage to grow and do better.

    WFG is producing more licensed agents than all other insurance brokers COMBINED.
    That’s a lot of people with hope to grow and do better.

  8. If Greatway Financial Inc copy & paste wfg’s business model, and Greatway is now under review by FRSA. Why not WFG? Do you think WFG will escape the review by FSRA body? Because it is exactly has the same business model MLM as well as violating the ethical practices under the Financial Regulations.

    • That’s really tough to say without knowing the ins and outs of how the company operates. But WFG is much larger than Greatway and has been around for much longer, so perhaps their compliance and legal team has done a better job than Greatway’s has.

  9. Hello Chris,

    I thought of writing to let you know, I am truly appalled, coming across your webpage, on the topic of WFG. I understand you feel opposed to WFG, and how you understand WFG might be common among readers who may also see your point of view.

    Thanks for sharing your strongly opposing personal opinion with regards to WFG and I look forward to know if you have additional or relevant information in 2024.

  10. i got a friend of mine who out of respect i listened to the training and as what i expected it sounds really a pyramid scheme, ive been into some pyramiding before in a different country but it has the same concept. only it has more advantage here due to the tax writeoff.

  11. Here’s an article comparing WFG (which is a MGA) to an MLM

    As a WFG client for 16 years and now an agent, I’ve always loved the company. I’ve been blessed with my advisors but I’ve also met some agents where I’m glad I’m not their client. When I hear of scams in the WFG community, it’s always with some agent doing something stupid. The company itself is pretty amazing.

  12. Hi christopher,

    Your article has misinformation and bias in it from what I see.

    Stop using the mlm excusitice to bash wfg. It gives everyone a fair chance to change their live, thier families and other’s through education plus, go through the legal steps. Like any financial services business needs a license or any business to operate and why would triple a companies work with wfg if a scam? So, false

    Another lie in high pressure to recruit. If you want to you can to build a team like any buisness or job. Everyone recruits job, army, scouts, banks, etc so, they a scam then? Or can just service families your choice. So false.

    Another lie in hard to make a lot of income with the system in wfg. Every business and job has a system for who joins them with a trainer to teach them so, Wfg is no different. Job caps on how much your worth but, wfg you can create your own worth so, false.

    You become a social outcast to family amd friends. Only applies if you push it like that but, in realistic terms it does not make you a social outcast. Unless, you do that to yourself in the process so, false.

    Could be a conflict of interest in trying to sell high commision product’s when it is not another biased lie. Like every busienss who is perfect? No one so, stop attacking wfg like it is the enemy to the public and other’s don’t have bad apples.

    Your article seems biased and one sided when you wrote this i must say. Before you print something about a company you do not know the full facts about sit down and stay quiet until, you actually do the proper research to write it. You don’t spread misinformstion to people then, see some other’s speak the same misinformation in your comment section. To everyone elses slandering the company need to keep quiet till you actually research properly.

    This system and platform has changed thousand’s and million’s of lives to a better future. So, saying you would not touch any of the products or recommend to family and friend’s shows your arrogance of that ego.

    Hope you have seen the positive impact the campaign is giving people in a better life in educating yourself.

    Best regards
    Paul M

    • Learn to write. This reply is exactly the reason no one should ever purchase a product from wfg without reading all the downsides and risk involved. I’ve met several “agents” on a spectrum of not at all qualified to somewhat qualified. Not who I would trust with my hard earned money.

  13. I don’t say it is a scam totally because some of the policies are useful for the clients if ” taking from a knowledgeable advisor”. But working as a wfg agent is very hard. Most of the agents pass the exam by cheating and they don’t have any knowledge at all. The top-level agents just wants to make money and just recruiting new agents by giving fake information.

    • I am a WFG agent, and I find this comment fairly ignorant.”Most of the agents pass the exam by cheating”? Firstly, how could you possibly know that, in any realistic sense? Secondly, how is that even possible, since the exams are administered by the states and FINRA (Federal level, for securities)? Also, there are systems in place to make sure that products offered to fill a client’s needs are correct for that client–important since in many states, including California (the single largest grouping of WFG agents), which make financial professionals fiduciaries, which is the highest standard of commitment to the client. Initially an agent may or may not know much beyond what they studied for their tests, but few of those handle they transactions without supervision of those who are quite knowledeable.

  14. I have been approached by an ex co-worker who works for the WFG. This ex co-worker wants to “have a meeting” and fill me in on some “cool financial solutions”. I am in no way a closed-minded person, and have agreed to meet with them a few days from now. I came to this article to see what I was getting myself into. After reading the article I was quite happy to hear the perspective of the author. I did not notice any bias or slander in this article, and the author even vows to update his writing with more accurate information as it becomes present. This is a rare case where an author is looking to always improve their own information, and I can respect that. I always appreciate someone who can leave the door open for further discussion. The comments all seem to be the same thing: either really positive and pro-WFG, or a negative comment followed by someone defending the WFG.
    A lot of the comments defend poor service as a personal issue between some rogue agent and a client, rather than let it reflect poorly on the company. As someone who has worked in customer service for many years, I dream of a day where the negligent employee gets the blame, and not the company as a whole. If someone in my company lets a customer down it is up to my company to make it better for the customer. But it seems in the financial game it is easy to brush off poor service as a situation where someone was provided a low-quality agent. This does not sit right with me as the company does the hiring, the company does the training, from what I understand these agents must spend some time with their superiors who are watching their performance, and they are also offering their services to “friends and loved ones”.
    This combination of training and pitching to people you know should result in a very universal positive experience. It is a perfect situation to purchase a product from someone who has the proper knowledge and training, while also being someone you know and trust. So why is it that so many people have a negative experience with this system? It seems like the company has done all of the ground work, but people still end up with a negative experience.
    I am going to go into this meeting in a few days and write back on my experience. I am a person who appreciates knowledge, clarity, and service.
    I have a deep understanding of all things finance, and currently I invest all of my own money and run my own businesses. I don’t see any real need to change what I am doing financially, and why would I pay someone to do something I can already do myself? But all of the positive comments speaking about the great offerings at WFG have me convinced that I will not be let down by this meeting.

    Will post back in a few days.
    Thanks for the excellent article, Chris!

    • Upfront, I am a current agent within WFG. Is it a perfect company? No, but show me one that is. What I’ve experience is this;

      I came to WFG as a potential client. My wife and I wanted to get a better handle on our finances and at the time, had yet to get any REAL help from our bank advisor or our personal financial advisor (whom is a Friend of mine that works for a well know Financial company). It seemed whenever we tried to get help, we were sold a product to fix things or to relieve the current source of financial stress.
      For example: when we needed to replace our roof we were approved for a line of credit… aka DEBT. No one talked to us about how to properly create an emergency fund so as to cover unexpected repairs or situations.
      When I spoke with friends, coworkers and relatives, they all shared similar experiences with various results from most banks, insurance providers, etc so there really didn’t seem to be much difference who we went with for help.
      My wife’s co-worker was the one that recommend the WFG agent we eventually sat down with.
      He didn’t offer to sell us another or better product. He listened to our issues, assured us that many people are dealing with the same things, which we already knew from speaking with friends and relatives, and offered to help us learn through the financial workshops they offered for free. He also offered to do a full review on our current finances to make sure everything was working or not. Something no bank or even my buddy that was also a financial advisor, offered to do….again for free.
      So we took him up on the offer. Within 2 weeks, we learned more about money than either of us had in over 35 years. When he completed the review, he had found where we were spending too much, the products we had that weren’t working and the ones that were, like my RRSP and our kids resps. We paid him nothing but he was able to significantly reduce how much we were spending by eliminating several insurances and other products we had been sold as solutions, that were anything but.
      Now I did say I’m also an agent currently, but he wasn’t the one that “recruited” me. I actually was between jobs and loved their approach, so I asked how I could get started. To be able to do the same for others as he did for us. He offered to mentor me and I’ve learned way more than I ever thought I would and not just about finances and WFG’s systems, but also about business in general. I took what I learned and was able to start up two other ventures that I had dreamed of long before I even met my wife.

      Now… is it Perfect? No! the article does explain thing fairly well but not completely accurately. There is a book by Simon Sinek(think thats how it’s spelled) called “The real truth about WFG: unauthorized” that does an even better job. The author wasn’t fired or employed by WFG to write it and it is 100% accurate… at least from what I have experienced and seen.

      A couple points that I will clarify from what I’ve seen;
      1) I have never been forced to “recruit” or “sell” to my family/friends. In fact I have never been forced to recruit anyone. I did eventually find 2 people (this year) that liked what we do and wanted to join me in business. Financial services is the highest paying industry in the world so you can make good money on your own pen as they say. The advantage that having people to work with is that I can rely on others to help when I’m not able and to be perfectly honest… it’s more fun working with others.
      2) There are definitely bad apples every where… including WFG. I have met and heard stories of other WFG agents and even whole teams that will gladly do things they shouldn’t….outside of breaking the law of course… selling higher commission products or services that the client may not actually need. This problem happens in any sales business when commission is involved. Technically they aren’t breaking the rules that govern agents in the financial sector but it’s still wrong in my books.
      3) It does look like an MLM. No need to lie and say it doesn’t. they are structured similarly. the difference though are many. For one, we don’t have our own brand of products or services. Anything you could get from WFG, you can get from our product providers yourself. The difference is that were we work with many (70+ in Canada and 200+ in the US) providers products, your Bank as an example, only offers theirs. So we’re able to find the best fit for each situation by shopping around for our clientele. as an example: It’s very unlikely that if you went to your bank for a mortgage, they would tell you the green bank across the street has a better interest rate right now.

      Like anything else in life, you need to use your judgement and decide what is and isn’t right for you. WFG has a lot of positives… more than the article gives them credit for and more than I went into… but it does have it’s draw backs too.

      Hope this helps

  15. What Christopher leaves out in his “opinion” hit piece is that there are over 200 million Americans who literally live paycheck to paycheck, barely making ends meet, not having the ability or knowledge on how to save $ because they are either working for someone paying them a pittance, or self-employed & unable to create more income because becoming an employer has become such an arduous task.

    He also leaves out that WFG has perfected a system to help agents create & build their own business that is now being COPIED by 100s of other companies, because it is SO effective. The system helps people grow their own business effectively, that’s why the system is in place. Christopher also fails to mention that if you were to join ANY life insurance company they would push you to SELL life insurance (with warm leads and all the other things that turn him off).
    WFG specifically trains you NOT to SELL. They train you to help EDUCATE prospects, all while giving same prospects the same opportunity to build their own WFG agency. All this is FREE. WFG’s goals are to help educate as many families in this nation to be independently wealthy, with a noble purpose to help one another. No other life insurance company works off those principals. They tell you to go out and sell. WFG tells you to go out & educate & help.
    BIG difference! It is all a mindset. As I mentioned, it’s a system that is now being implemented by 100s of other companies, copying the exact WFG platform.

    Christopher literally tells you that WFG is NOT a scam. It is NOT a pyramid. You don’t have to buy anything to get involved. They train you thoroughly, they inspire you daily, they give you access to over 100 companies with 1000s of products for every financial need for the common person. Do not be misled by him telling you this will not create you personal wealth. I personally do not know anyone who has dedicated themselves to the WFG system who isn’t making more than they were working for someone else, within just a couple of years. WFG creates inspiration! WFG creates a mindset that will help anyone realize their true potential to build on their own dreams.

    Imagine we have 200 million people needing financial literacy (something they do not teach in school), and Christopher disregards that basic fact. The TOP 1% have their financial advisors who will not even speak to a prospect without charging a minimum of $1k for financial advice, people who work at JP Morgan or Merrill Lynch, Charles Schwab etc. WFG is made for the middle class American who needs help, not for the wealthy who can drop $$ on financial advice. Every agent I have come across WFG has an inspiring story. 99% never started in the financial business. Most were employees at a retail store, owned unprofitable businesses, were self-employed & unable to grow, because the WFG platform is a system created with the middle class in mind. Shame on you for taking your time to writing such nonsense. You come off as some Wall Street pompous pawn, trying to discourage millions who can use WFGs help. You are not helping the masses. You are in this for your own personal glory.

    80,000+ WFG agents whole heartedly disagree with your attempt to discredit their mission. Their mission to help educate as many families realize their true potential, to realize they too can build wealth, regardless from what background they come from. WFG is literally the American Dream.

    • Thank you for the true article on what wfg stands for not more of a biased hit piece from not knowing all your facts. Proud to be a agent in wfg.

    • You don’t sound biased AT ALL. Maybe it’s the use of CAPS.

      This company is as bad as all the others. You love it until they screw you over too. Yawn.

  16. $150 at WFG is skin in the game to register you with 70 product providers in the insurance, investment and banking industries so you can create a wholistic plan for people with products that suit their needs and goals. It also gets you access to unlimited training and mentoring.

    The information about the compensation is inaccurate. Those commission levels go up as you get more competent… true. However, those percentages are not based on 100% commission. WFG has economy of scale with our product providers and as a result those percentages are based on 218%. 66% of 218% not 66% of 100%.

    Nice try at the review but…. there are many flaws inherent in this publication. I would strongly suggest more accurate research or you fall into the category of people propagating half truths and out right incorrect information. Bias is quite evident… maybe ditch that too.

  17. The best company to work for if someone doesnt like this company it because they arnt willing to put in the work! I owed a policy (IUL) before joining and was so passionate about the product that i wanted to come help familys and pursure the mission!

  18. I thought when my mother mentioned she was getting her insurance license to make money after retirement. When she told me something about how she could make millions in selling insurance, I didn’t know what to said an said nothing. Life insurance agents are not millionaires. Sure, maybe a small few, but lets face it. Life insurance agents are middle class, not the upper class. I consider the upper class millionaires and billionaires. Below that you’re upper middle class. I thought maybe she was just mislead because she’d heard selling insurance is a good way to make money. Now I know why she said millionaires. She is one of their seminars in Vegas. I thought she was going to some general educational seminar of something. Now I see it. She was talking about some woman at work of something…clearly the woman recruited her. Here’s the two things I hate:

    1) the misleading, but not enough to be criminal, information that you can be a millionaire. Basically, you haven’t done enough to go to federal prison, but so what? There’s something calls ethics and integrity.

    2) Yes, there’s something called ethics and integrity. And because the ones that get rich are hustlers, they often lack that. You have to lack that usually to get rich in selling things. You have to just sell and forget about ethics. It’s why so many people in the financial industry end up in federal prison, right?

    3) Also, you might end up committing a federal crime and not even know it, you’re so ambitious, even though you are honest. These recruited people have no knowledge of regulations on how to sell insurance and might end up committing fraud even though they didn’t lie. And you don’t have to know it’s a crime to be convicted. Generally you do, but when it comes to finance, there is the exception to mens rea of strict liability. Google it and you’ll find the legal definitions. It is a big problem for salespeople and doctors. Chances are the government will not charge a person who did not act without mens rea in a MLM because they know how ignorant the people are of everything to begin with. But, it is possible. And who wants to end up in prison or paying fines to the government and a felony record?

    4) Like stated, it makes social interactions awkward. I have to go to work. Now I’m pissed. I was having a good day until I learned my mom wasn’t just going to be selling health insurance. I really love the thought of these people that own this company, etc. in bunkbeds in federal prison camps. I swear, if I was there, I would put that guy pushing it against a wall and tell him if he wrongs my mom, I will end him–not kill, just a way of saying, do what a man does when someone wrongs his mother.

    • Stop with your misinformation Brandon. Saying it is fraud or commiting federal crime because you don’t want to learn. Instead of blaming someome who wants to help your mom then, you learn to help her.

      That is a better solution

  19. WFG is an MLM. They want me to pay them $150.00 so they can generate sales leads from my inner circle of acquaintances. When the SMD confirmed MLM, I removed myself from the corporation as an associate the next day. Feeling relieved I did not provide the corporation with any list of potential clients.


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