Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? 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 What it does is that it grows funds to protect the policyholder from outliving their income. Something went wrong while submitting the form. This organization is a scam. 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. Save my name, email, and website in this browser for the next time I comment. The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. Do I smell something fishy? So I have nothing bad to say about them. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. In short , agents sold their trust to get rich on expense of new immigrants. Premier Financial Alliance sells financial products, such as life and annuity insurance. Donald Trump and Robert Kiyosaki recommend it? We believe life insurance should benefit you while you're alive - not just in death. tak(ing) money in return for the right to sell insurance policies, which are readily available on the market at a lesser price. Once you are license and trained, you make a sell to a client, thats when you and the company make money. $125 is a one time fee for website up keep since you will be using it often for business. Is Premier Financial Alliance a pyramid scheme? 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% . Its not just in case you die - it's to live a life you love. Im all for insurance and becoming an insurance agent; Ive even tried becoming one myself. No marketing is done to retail customers. Is Premier Financial Alliance legit or a scam to watch out for? 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. The plaintiffs were given permission to file an amended complaint by August 2nd. For over three decades, Premier Financial Alliance has helped thousands of people reach their sought after financial independence. For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. Now I'm literally changing lives. ", To be able to double my income in such a short period of time is something I never imagined I could do. Learn More . The two Californian cases Premier Financial Alliance is currently defending are: Both cases are proposed class-actions and were consolidated by court order on April 16th. Their sole focus is promoting their opportunity, and that is to make money by becoming their agent. A cost-effective option for individuals who seek coverage for a predetermined period of time. The trick to MLM is to sign up underlings that can pay the fee. Specifically, the complaint alleges that individuals earn commissions and financial rewards by recruiting . Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. PFA has collaborated with the nation's largest insurance . Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Lost Card. 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. Another reason is that its challenging. Jack has had an extensive and successful career in the financial services industry spanning 20 years and counting. If you think someone is trying to scam you, this is the place to ask about it. 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. Premier Financial Alliance, Inc. 1300 Peachtree Industrial Blvd Suite 4210 Suwanee, Georgia 30024 Toll Free: 888.867.6533 Direct: 770.271.0443 Fax: 678.482.1975 [email protected] Close. Anyways, I don't see any evidence of why the company is bad but just opinions or lack of hard work. Apple, Google, Tesla get lawsuit everyday as the company get bigger. Wang and Zong, both New Jersey residents, claim Premier Financial Alliance is a pyramid scheme they were lured into. To actually learn it, knowledge it, not just be told by other people. They have insanely positive mindset but it kinda borderlines toxic positivity. Recruitment is a part of their system; however, if the attention is put heavily on this, it becomes a red flag. 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). The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. 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. Only difference? http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. But looks like company agent screwed Nepali and Bhutanese immigrants. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. Post your questions here and have them answered by people who are knowledgeable about all types of scams. For improved security and optimized performance we highly recommend upgrading your browser. Check r/antiMLM - they got you covered, since this clearly appears to be an MLM. Phone Number 888.867.6533. Multi Location Business. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. $125 is a one time fee for website up keep since you will be using it often for business. The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. Get your ticket. Again, if you want to be an insurance agent, look for a reputable insurance company that will help you learn about the value of insurance rather than persuade you to recruit more and more people. Career. Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. You can also subscribe without commenting. 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. 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. Life insurance you don't have to die to use - it just makes sense. Thank you! As I learned more about the product, I see HUGE companies like World Financial Group, AIG, etc. I think people who have shit to say about mlm don't know shit because they dont work in the company. Financial Services. Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? Awesome. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. JW's Rise to Success. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. 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. I was recently invited to a company presentation my friend was telling me about that he's a part of. The founders LinkedIn account is barely updated. To make money in PFA and WFG, it requires hard work and servant mentality. You don't know what you are talking about. Money is just by product. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Dedicated Agent Support. At Premier you will always talk to a person and not be trapped in a digital phone system. If yes, then you should join our top-recommended program. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. ", "You're never too young for life insurance. Daily lunch (Sept 27-29th) Early check in September 25, 2022. Address Line 2 (Optional) Lan Zhang appears to be a top Premier Financial Alliance affiliate. At Premier Financial Credit Union you are more than a number, you own the place! 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. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Founded Date 2003. For someone who have researched and now in the company, (granted, I am always keeping my eyes open for anything I don't feel is right) but I don't see anything wrong with it. Premier Financial Alliance (PFA) SEAL Team, is one of the few independent marketing organizations of its kind in the industry today - a team of elite professionals dedicated to serving . Once they pay the $125 membership fee and buy the . ChromeFirefoxEdge. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Honestly, I dont see anything to like about Premier Financial Alliance. now = new Date; Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. The culture, organization, and leadership are great. Because at first it seemed "too good to be true." For 2 of the years, I was trying to research and see what they are all about. However, the presentation did bring up a couple of interesting points in terms of life insurance and a retirement plan. Is he supposed to have used a life insurance for that? Honolulu, HI 96819-1826. As a new Premier Marketing Associate you will be instructed that the key to attaining success in your business lies in assisting each of your clients to reach their financial goals. Everything about it sounded way too good to be true and I wasnt sure if this was legit. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. 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). Premier Financial Alliance believes in empowering people with the knowledge and confidence needed to build their own business without the fear of failure that prevents you from achieving financial success.. Someone reached out to me on Instagram recently. Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. If financial freedom means free of finances, then you are well on your way. They get paid by insurance companies by educating the . Serve your client, Serve your team, and required always put other people first before. 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. I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. If recruitment stops, so does your profit. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Ever wanted to have a super profitable online business but lack the ability or desire to create products and struggle to drive traffic, generate leads and convert sales? Download the Mobile App. 132 were here. The decision to deny reconsideration was based on PFAs. It wouldn't hurt to make extra money right? Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. Because of the reputation it has. theYear = now.getYear(); Anyway, insurance, from the word itself, means guaranteed or assurance. I've seen with my own eyes, this company change lives from consumers to their employees. In this company we all help each other. That was the first red flag but I was bored and curious. Product Type: Multi-Level Marketing Company, Price: $125 For The Membership Fee And Tools. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events.2. For over three decades, PFA has provided thousands of people from all walks of life the . In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. Lawsuit After Lawsuit Calling It A Pyramid Scheme. Press J to jump to the feed. Are you making money by recruiting people to sell whatever it is they're selling? Nowadays, people can sue people, company sue company every day. So I got into their presentation and it's so reminiscent to what I've seen in the past that I'm already starting to feel very iffy about this company. Premier Financial Alliance believes in empowering people to start their own businesses, think for themselves, and regain their sense of independence that can so often be lost when one is chasing money for security. Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. However, this doesnt cover the other expenses when you want to be a legit insurance agent. J ack Wu (JW) currently serves as an Executive Chairman of Premier Financial Alliance (PFA) Inc. (A nation-wide financial marketing company). Need Assistance? 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. 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. https://www.facebook.com/PFA-Multi-Level-Marketing-Organization-226277401058077/, I haven't heard anything about this company but here's what showed up in web search: http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam and http://sajha.com/sajha/html/index.cfm?threadid=111838 and http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, If it feels fishy and smells a bit, I think it is wise to walk away Doug Content Director: TheDailyScam.com. }; My parents got insurance through PFA. My name is Vasiliy Latipov and I help ordinary folks build extremely profitable affiliate marketing businesses (even if they have no experience or list). theYear = theYear + 1900; The said lawsuit also claims that the sole source of income comes from recruitment and again, thats a telltale of a pyramid scheme. "I love PFA because we create positive change in peoples lives. Life Insurance. Come join us in our quest to bring financial prosperity back to each . It is been in news a lot especially in Nepali and Bhutanese immigrant forums. Here is a Blueprintto Owing Highly Profitable Online Business Without Any Experience REVEALED! No compensation plan. Financial security and freedom is an idea that all seek. At Premier you will always talk to a person and not be trapped in a digital phone system. Company Premier Financial Alliance Seal Team. According to allegations of an ongoing lawsuit, Premier Financial Alliance earns all of its revenue through recruitment. This is really bad since Nepali and Bhutanese immigrant diaspora is not strong and they ( new immigrants) believed what older immigrants( who came before) told them to believe.Bad part is most of agents are older immigrants. they never personally agreed to PFAs AMA. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. PFA is broker for Life Insurance Companies. Copyright You can check more insurance companies here. The most damning allegations in the new 2019 lawsuit are the targeting of Asian immigrants, and claim that 95% of sales within Premier Financial Alliance are affiliate purchases. Whether retirement plans, funding your childs college tuition, or having enough money in the event of an emergency, these are the types of decisions that should be made sooner than later. 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