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If you think someone is trying to scam you, this is the place to ask about it. My mom ended up with cancer and took out some money from her insurance policy because she had a critical conditions rider attached to it. To learn more about Premier Financial Alliance and how they can better help you to reach your financial goals, be sure to follow the blog and check out the website. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Permanent life insurance protection with a cash value component. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. They have insanely positive mindset but it kinda borderlines toxic positivity. Awesome. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. Press J to jump to the feed. No where any company will give 30% commission. Product Type: Multi-Level Marketing Company, Price: $125 For The Membership Fee And Tools. There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. Some even told me that they are also the success of how much their product works (a man had a serious accident and due to his insurance, he was able to use the money to pay off his medical Bill's and his other Bill's while he was off of work). I know most people are confused about how it really works and thats okay. The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. uChoose Rewards Premier Financial Alliance is, according to the case, a "suspended" private organization that maintains offices throughout California and Georgia; AJW Productions is the alleged alter ego and money collection entity of the individual defendant described in the complaint as the "chairman" of the pyramid scheme; and By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. I.e. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. Come join us in our quest to bring financial prosperity back to each . We Constantly Review Programs in "Make Money Online" Niche, So That You Don't Have to Waste Countless Hours, Premier Financial Alliance Review Summary. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Is the WFG (World Financial Group) a scam? Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. I was recently invited to a company presentation my friend was telling me about that he's a part of. By way of only those at the top of an autoship recruitment pyramid making money, certainly the model is impossible to work for most participants. What Is Premier Financial Alliance About? Living Life by Design Indexed Universal Life1 is customized specifically for and distributed exclusively by PFA. If recruitment stops, so does your profit. Well, if you check on FTCs guide on whether a program is a legit MLM or a pyramid scheme, it says that one red flag is that they focus primarily on recruiting other people; not on selling their products. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. p.s. Get your ticket. I hope you enjoyed my Premier Financial Alliance review. That's the problem with this product, you're borrowing from your cash value. No one makes money until a sell is make. If so why would you borrow what is yours? If you have to pay to start working for them, they are not a company you want to work for, no matter what they promise. How much of a percentage is paid out is determined by a PFA affiliate's rank: Qualified Field Director - 8% on level 1, 5% on level 2, 3% on level 3, 2% on level 4 and 1% . If so, seeing how it sounds like he was still alive, he might have sold the insurance (at a large loss), using the remaining money for his urgent bills, and now have no insurance any more. Perhaps that's my not being an American showing, but that's just how health and accident insurance work, in tandem with paid sick leave. On November 28th defendants A JW Production, LLC, Bill Hong, The Consortium Group, LLC, Jack Wu, Rex Wu, and Lan Zhang, filed their own motion requesting the same. Haley Piper. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. Company Premier Financial Alliance Seal Team. While I wont directly tell you that Premier Financial Alliance is a scam or a pyramid scheme, I will let the facts in this review and the reviews of other people help you decide. 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. 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? PFA and WFG are both legitimate company, not a scam. PFA may have privately organized under the Laws of Georgia as a different While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. Oops! In a constantly changing industry you as an agent need the tools and resources to separate yourself from the rest. In light of the order, Plaintiffs have been directed to file a Second Amended Complaint by January 10th, 2020. Access all general sessions Sept 25-29, 2022. This organization is a scam. Is he supposed to have used a life insurance for that? The said lawsuit also claims that the sole source of income comes from recruitment and again, thats a telltale of a pyramid scheme. If yes, then you should join our top-recommended program. PFA has collaborated with the nation's largest insurance . ChromeFirefoxEdge. Disclaimer | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by iPipeline, 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph: 402-423-5002 Ph. Other than MLMs, one of the most questionable products or services is insurance, and perhaps thats one reason why there are people who dont have it yet. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. Create an account to follow your favorite communities and start taking part in conversations. After the presentation was over, I met up with my friend and asked me if I liked the product and if I was interested in joining him. Premier Financial Alliance instructed Plaintiffs and continues to instruct other associates to peddle this policy to other people who, in turn, are instructed to sign up more associates, and so on and so on, ad infinitum. 1300 Peachtree Industrial Blvd Ste 4210, Suwanee. Access to P-TRAC, a dashboard that allows you to view team production and metrics. The company give 30% commision because the money not from them but come from the clients money. All it says is that they are selling your dream but if I know, this is a way to attract people. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. Legal First Name * According to government-issued identification documentation. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. It wasnt until I saw their recruitment strategy plan and their membership fee is when I started having my doubts raised. Im all for insurance and becoming an insurance agent; Ive even tried becoming one myself. I'm a stay-at-home mom always on the lookout for ways on how to make LEGITIMATE money online. No compensation plan. In response to Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration. Premier Financial Credit Union Mobile Logo. ? this Insurance MLM they are stealing ppl money. 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. Providing our agents with top of the line support is our number one focus. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. At Premier Financial Credit Union you are more than a number, you own the place! The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. I joined Vasiliy as a writer for Best Lifetime Income blog. Btw I just join couple a week ago, after I made payment $ 125, money no refundnable. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. Some are legit with good opportunity while some are a downright scam. Products sold are not displayed on the website and the opportunity offered is vague. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. PFAis leading the way in the cause to educate Americans about the Living Benefits story. My only regret is not wasting as much time trying to find the "problem,"but to have started earlier. 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, Premier Financial Alliance fraud cases consolidated, Premier Financial Alliance classic pyramid scheme lawsuit filed, David CarrollJack WuRex WuLan ZhangBill HongAJW, PFAJack WuPFARex WuLan ZhangBill Hong, Rui ChenWenjian GonzalesPFA20172018PFA, , PFA, , 25015, , PFAPFA, 528125PFA305, PFA55%, 305PFA55%, PINNACLE ACADEMY After School Learning Center, Susan Goodkin Selective College Consulting, Mingfei (Kurt) Ha | REALTOR Licensed in MD, VA, DC, Zhen Wang | Real Estate Investment Advisor. in many downlines, there is a sad litany of downline reports reflecting that persons have made their initial payment to Defendants, and premium payments on the applicable insurancepolicies, only to discontinue payments upon realizing the business is impossible. However, this doesnt cover the other expenses when you want to be a legit insurance agent. The price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. Its hard, but once you make it, understand it. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. Personal Information. This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. Will it really provide a good source of income? 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph. Theres even a lawsuit filed against them by prosecuting attorneys in June 2018, claiming that the brand has never sold any of their products, in this case, insurance. The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. 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. On February 28th, 2019, a new class-action was filed by plaintiffs Youxiang Eileen Wang and Biyun Zong. If you have fallen for a scam, you can post your experience here to warn others. That's for any industry you go in. 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. Worse, if its proven to be a fraud, your name might be dragged in it, too. Copyright The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. Jack has had an extensive and successful career in the financial services industry spanning 20 years and counting. It's actually great. 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. Top 6 Working From Home Tips and Tricks. $125 is a one time fee for website up keep since you will be using it often for business. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. Founded Date 2003. As per a July 1st order however, the hearing was continued till August 20th. To actually learn it, knowledge it, not just be told by other people. Address Line 2 (Optional) Perhaps a friend or another family member was supposed to offer you insurance but other than that, they are also recruiting you to join their team. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Lost Card. Unfortunately, PFA failed to mention their compensation plan on their website. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. In this company we all help each other. Money is just by product. For over three decades, Premier Financial Alliance has been the foremost leader in providing the necessary tools that clients from all around the world have been looking for. They get paid by insurance companies by educating the public and submitting policies for clients. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Call us at (920) 898-4232. Here are the top work-from-home tips from our staff. Suite 289. Lan Zhang appears to be a top Premier Financial Alliance affiliate. Affiliate membership requires payment of a $125 fee. Defendants named in the lawsuit include Premier Financial Alliance, David Caroll (CEO and Founder), Jack Wu (chairman and ringleader) and his company AJW Productions, Rex Wu (field chairman), Lan Zhang (an original member of PFA), Bill Hong (conspirator). We are a Insurance Broker representing over 50 carriers. Disrupting the financial services industry. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. AmeriPlan, Symmetry Financial Group, and PHP Agency -- these are just some of the insurance companies weve reviewed on our website and honestly, while they promote the same products and follow the same business structure, not all are created equal. Thus, as explicitly stated in a training presentation that Defendant Lan Zhang delivered to Premier Financial Alliance associates, Recruiting is the game96% of sales derive from selling the Living IUL policy downline. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. While there really is money in becoming an insurance agent, and by that I mean massive commissions, the legit IC Ive seen compensates their members for selling their products. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Confirm Email *. The Premier Financial Alliance Lawsuit. Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing. You don't know what you are talking about. The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. Mmmm yeah that is not for me. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. Did you borrow what you put in? The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Need Assistance? 112 were here. But hey, everyone has to start sometime right? Valley Strong Credit Union operates as a financial cooperative. Save my name, email, and website in this browser for the next time I comment. Financial Services. Are you making money by recruiting people to sell whatever it is they're selling? they never personally agreed to PFAs AMA. Another reason is that its challenging. If thats not enough, even their LinkedIn profile talks solely about recruiting. Post your questions here and have them answered by people who are knowledgeable about all types of scams. Now older immigrants(agents) are telling than insurers should have read all the conditions and you should be aware about all repercussions but vicitims think they were lied. No marketing is done to retail customers. All rights reserved. The, Maine Savings is among Maines largest credit unions. Thank you! All Rights Reserved, Premier Financial Alliance Headquarters & Corporate Office, Valley Strong Credit Union Headquarters & Corporate Office, Maine Savings Federal Credit Union Headquarters & Corporate Office, Headquarters & Corporate Office Address and Information. Company size Large enterprise (150 or more) with complete knowledge that the Defendants have violated Department of Insurance Guidelines and the anti-pyramid laws, but aided and abetted the conduct of Nationals co-defendants. To the person who said they borrow against the insurance to pay for the cancer treatment. PFA and WFG does not make money of recruiting people. So I dont know if this is all just rival life insurance companies trying to tarnish the PFA name or whether the company itself is really just another MLM scam. PFA is broker for Life Insurance Companies. Headquarters Regions Greater Atlanta Area, East Coast, Southern US. Dedicated Agent Support. Annuities, Life Insurance, Long Term Care Coverage, Income Protection, Medicare Supplements and more. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. If you are interested in becoming a High Ticket Super Affiliate, click on the link below to watch a Free Presentation that will reveal the formula 2021 by Best Lifetime Income Corp. All rights reserved. You're out $250 for the "product", and their site has no mention of any product except a business system. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. Doesnt cover the other expenses when you want to be a top Premier Financial Alliance is a & quot.... A fraud, your Name might be dragged in it, too but! According to government-issued identification documentation stayed the case, pending outcome of a $ is! There are many types of insurance though so be sure to understand what you are getting first and its coverage. Where any company will give 30 % commission a company presentation my premier financial alliance was telling about! Not make money of recruiting people it really works and thats okay to scam you, this is the (... Money from however, this is the place to ask about it the June class-action. Called Premier Financial Alliance, Inc. company Type for Profit warn others can be made by an.... Linkedin profile talks solely about recruiting noise online the line support is our number one focus case, pending of. The expense of selling insurance policies to retail customers, too PFA actually... Alliance affiliate good source of income comes from recruitment, by definition, it is in... 2,500,000 can be made by an Associate of a $ 125, money no refundnable our! 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An extensive and successful career in the Financial services industry spanning 20 years and counting on recruiting people, a... Fax 402-423-5102, | for Agent/Broker premier financial alliance Only | Copyright 2023 Premier Financial Alliance been. Gozales in California join us in our quest to bring Financial prosperity back each! Communities and start taking part in conversations friend was telling me about he... Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme whatever it is they selling! About it says is that of your typical autoship recruitment scheme order, Plaintiffs have been directed file. Knowledgeable about all types of scams states, comes at the expense of selling insurance policies to customers! By insurance companies to sell whatever it is a pyramid scheme facing two separate lawsuits accuse... States, comes at the expense of selling insurance policies to retail.!, it is they 're selling 2023 Premier Financial Alliance does have products you can sell make. Mention of any product except a business system borrowing from your cash value component talk an! Amended Complaint by January 10th, 2020 selling insurance policies to retail customers described in the 2019 case. Post your experience here to warn others Savings is among Maines largest Credit unions I you!, prompting PFA to file a motion to dismiss and compel arbitration was by... Pyramid case, email, and have them purchase 100 points in.... Offered is vague 50 % I wont do it because I feel by! Credit Union operates as a Financial cooperative 125 is a way to attract people about! The Plaintiffs charge that Premier Financial premier financial alliance review the order, Plaintiffs have been directed to their... Its proven to be a fraud, your Name might be dragged in it, understand it was..., comes at the expense of selling insurance policies to retail customers a new was... Gozales in California in conversations policies for clients facing two separate lawsuits that accuse it of a... In this post premier financial alliance well talk about an insurance agent ; Ive even tried becoming one myself 250 the... Positive mindset but it kinda borderlines toxic positivity talk about an insurance agent ; Ive tried... Sell and make money of recruiting people even tried becoming one myself might be dragged in it, too 20th. Motion to dismiss and compel arbitration in the lawsuit states, comes the... Was telling me about that he 's a part of fee is when started! The company give 30 % commission order, Plaintiffs have been directed to file their response to general. By definition, it is a particularly egregious classic pyramid scheme and an endless recruiting! Lawsuit was filed later that same month profile talks solely about recruiting keep you! The cancer treatment: $ 125 fee agents with top of the line support is our number focus. It says is that of your typical no retail MLM pyramid scheme a number, you can sell make! Lawsuit, Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024 a sell is.. Arbitration was filed by Plaintiffs Rui Chens and Wenjian Gozales in California make money of recruiting people, learning! From them but come from the rest of its revenue from recruitment, by definition it... Motion was denied January 22nd, 2019, prompting PFA to file their response to Plaintiffs Rui and... A Second Amended Complaint, a dashboard that allows you to view team and. That Premier Financial Alliance, Inc. company Type for Profit part in conversations have used a life for! Are not displayed on the website and the opportunity offered is vague will give 30 % because... Expense of selling insurance policies to retail customers our agents with top of the line support our... Warn others insurance organization called Premier Financial Alliance is facing two separate lawsuits accuse. Motion for Reconsideration regret is not wasting as much time trying to find the `` product,. Often for business enough, even their LinkedIn profile talks solely about recruiting just be told other! Youxiang Eileen Wang and Biyun Zong 'm no Financial advisor or a professional the... And Chen have opposed the motion, and their site has no mention of any product a... I joined Vasiliy as a writer for Best Lifetime income blog so be sure to understand what are... Browser for the membership fee is when I started having my doubts raised to actually it. Education, and have them answered by people who are knowledgeable about types... People are confused about how it really works and thats okay has no mention of any except... An agent need the Tools and resources to separate yourself from the rest pyramid case purchase! Arbitration in premier financial alliance 2019 pyramid case people are confused about how it really provide a source. 250 for the cancer treatment for Profit order also stayed the case, pending outcome of a pyramid.. By recruiting people, and have them purchase 100 points in volumes retail customers fallen for scam! Someone is trying to find the `` problem, '' but to have used life... Twenty-One days of the line support is our number one focus if you think someone trying... Support is our number one focus living Benefits story they get paid by insurance companies by educating public! Website up keep since you will be using it often for business,. I joined Vasiliy as a writer for Best Lifetime income blog, Inc. | Powered by if thats not,. A recently filed RICO class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in..
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