First Financial Security (FFS) Constant Recruiting!

[rousemark]

That's not safe at all if they want the death benefit. Lots of people live past 90. That's not unusual at all.

I agree.. It is a lot like UL was sold in the old days.. only those are now crashing long before age 90.

 

[Cornelius]

The thing about being new in the insurance/financial industry especially coming in with a MLM structure is at some point you learn there are other ways of doing business and making money. Also in many instances if you leave the fold your shunned. Those Christmas cards don't come anymore once you leave.

 

[valiantx]

People may not believe me and I will not give out my name, but I personally met Brian and Gilles Moua, because I used to hang out with their Brian's sons back in the early and mid 2000s - I don't hang out with them no more due to various non-controversial reasons; however, the sons are not malicious in their intent, they simply want a good life for their family like most people do and took the opportunity their father offered them e.g. the Saudi Princes work for their father, king of Saudi Arabia, because they want to help their family even though one of them defected earlier this year due to disbelief against his father's way of immoral business practices.

All I can say is this,"I personally would not join FFS." In fact, I was invited to one of the regional branch office in the city I live at from a friend of mind a year and a half ago - he had dreams of grandeur but didn't know what FFS was even truly about overall - and the moment I saw the upline name, I knew this was the same business Brian's sons worked for. I honorable told my friend that I would give it a "rain check" after the presentation, but I never bothered with it anymore and will not.

Now I can't prove that FFS is a pyramid scam, which I honestly believe it can be one judging from my research about it and personal experience with scams, but I advise people be wary and never sign something before doing a thorough research. Also, look up a now defunct mortgage broker company called WLG (World Lending Group), which I was also privy to have had personally experience being recruited by Brian's sons, but I never joined because the people there were ridiculously clueless and facetious in their practices - which most should know about the sub-prime loan failure in the U.S.A. a few years back.

All in all, I wouldn't recommend FFS to any living human, but hey, I don't have the right to tell a man or woman what to do with their time or money neither.

 

[pcbinsurance]

Did you join up today just to revive this 10 month old thread? Are you a licensed insurance agent?

 

[Elle8]

Newbie here.. great forum!

I am constantly hounded by people that I know or used to know trying to recruit me into this "pyramid." I've tried to be as polite as possible in my rejections however they somehow find their way back to come to the same conversation.

NOTE - In my humble opinion and a sad fact, most of these agent/recruiters (the ones that I've come across) don't know what the heck they're selling, don't understand life insurance products, sales, etc... They just know conversational English, are clueless themselves when it comes to personal finance. They don't even had a GED! Yet, they've "made it" with FFS and now want to "share the wealth." I will be honest and say that these "agent/recruiters" are primarily of asian origin... Laotians/Hmongs/Vietnamese and Cambodians. A big majority of them, I would dare are first generation immigrants, blue-collar employees quitting their 8-12 hour shifts and working for FFS. Basically they're marketing to a specific market of uneducated, non-english speaking communities that have no clue about life insurance, investments, retirements..etc. All they know if they need life insurance.

They boast or show-off their commissions in the pipeline or "downline," telling me there are "leaders" that don't even work or some live "back in the country" and are still getting paid 5k-10k a month! Supposedly some Hmong guy named "Gilles Moua" is one of the higher up "leaders" makes over 500k/yr, presumably from all the "downline" activity. **There are a couple videos on Youtube where Mr. Moua makes a pitch to "plant your flag!"

I am aware that First Financial Security (FFS) is MLM. "Agents" do more recruiting than selling life insurance products.. and I understand their bread & butter is the IUL contracts. Again - some of these people don't even know what they're doing, don't know or understand the products. All they're doing is recruiting.

Enough of me displeasures.

Would someone please let me know how these "Agents" make their money? My own guess would be from recruiting, % cut from downline production and their own direct sales.

As I understand it..each recruit pays $125 to "join." Not sure if this is true but if one does join, you are required to buy a policy. Would someone kindly confirm this?

I'm not bashing FFS.. I'm more concerned about those people who don't know better..being ripped off, buying policies and amounts they don't need or afford. Also for those dumb enough to be "recruited"... what a waste of time!

Any inputs/comments is greatly appreciated!

Peace!

In my limited experience with FFS, I would have to say you are right on spot for the most part, with maybe just a little too much of a lean toward the idea of uneducated incompetent agents. On paper this network should work beautifully, with fair commissions, excellent support and web training guiding new or newer agents toward a decent career. The unfortunate thing is that they will take anyone, and not everyone has the same professional mentality. As a serious newer agent, you can use this FMO to build yourself a nice little group, rent your own office space, recruit only competent agents and sell legitimate products to clients in a fair and ethical manner. If you can take the lead and do this, the residuals can be sweet, but don't expect to take them if you leave FFS. As a seasoned agent, it doesn't make a lot of sense to do this, as there are many other FMO's to choose from who pay higher commissions and don't keep residuals. In summary, FFS isn't a scam, but it is definitely not as professional as it could be, probably because commissions aren't as high in comparison.