WFG or Primerica? What better options are there?

In order to find 100 agents for your downline, you need to recruit about 714 people, which requires approaching about 3000 people. Now bear in mind, you're not the first agent on the block, and in established MLMs, you've merely replaced the the 100's before you who have also approached 3000 people each. Those same people have heard the same spiel from Herbalife, Usana, YoungLiving, etc. And soon you realize its easier to recruit, then sell training to those recruits than it is to sell products. Even Dave Ramsey admits that. And in that sense, financial MLMs are identical to pills, potion and lotion MLMs.....because MLM is the product.

I recruited 2 Agents so far this month off of 30 leads. May be 3 . . .

But - not MLM - traditional hierarchy . . .
 
Things happen.. Who knows specifics. Sold WFG and made millions... Doesn't take away from building the companies with his system.

I used to do the net battles once pro PFS and the con PFS and other organizations but at some point I realized beyond all the hyped. The my company verse your company it all came down to business.

Hubert did and is doing some amazing things in the industry and help many people earn some great incomes.

He is proven. He's built the organization's twice before and he wants to do it one more time..So do what he's done and then talk or think what if...A business decision...
 
and help many people earn some great incomes.
For every agent making great money, there are literally 1000's making none at all, or worse, losing money. And the money they lose ultimately ends up in the pockets of the few making great money. The problem is, MLMs never mention those losing money, which is odd because they represent the vast majority. And those making great money have sources of revenue not available to all but a rare few. Nor do they mention the costs involved in earning that income, which isn't income, its gross commissions.
 
Things happen.. Who knows specifics. Sold WFG and made millions... Doesn't take away from building the companies with his system.

I used to do the net battles once pro PFS and the con PFS and other organizations but at some point I realized beyond all the hyped. The my company verse your company it all came down to business.

Hubert did and is doing some amazing things in the industry and help many people earn some great incomes.

He is proven. He's built the organization's twice before and he wants to do it one more time..So do what he's done and then talk or think what if...A business decision...
To Hubert's credit, he was the first to combine MLM and insurance, after his Amway days. The world is a different place now. Nobody believes in Ernest Ainsley anymore either, or Tom Vu for that matter.
 
My problem with insurance/investment MLMs is that the firms become known for their compensation of their reps... rather than for client services.

It trivializes what this profession SHOULD be all about. The notion that you can do a fact-find and then try to recruit the person to do what you're doing... actually trivializes who you are and the services you provide to end clients. The impression is "No, it doesn't take much expertise. This is easy! You wanna do it? I can sign you up and you can make money with us!" And obviously, the compensation plan is geared for you to recruit others so you can make a higher commission %. Sure, you don't HAVE to recruit... but you're (generally) stuck at a lower %. (And you don't want to be the one to "buck the system" and not have "duplication" for yourself. That's why company culture is important as it influences how we think about our business and how we work with clients.)

The entry into this industry is already low enough (take a month to get an insurance license and up to 3 months to get a Series 7 & 66), compared to other serious professions that are just as meaningful: attorney, CPA, doctor, investment banker (different from investment rep), etc.

However, all that being said, it just shows that it isn't all that hard for the dedicated agent & advisor to stand out against such mediocrity.

Granted, this doesn't describe EVERY rep out there. I recall seeing a Primerica rep and WFG reps who did pursue IARFC membership with RFC or MRFC certifications. I'm sure that a couple have earned a CFP. However, considering the overall company culture, these are the rare exceptions.
 
Last edited:
I'm sure that a couple have earned a CFP. However, considering the overall company culture, these are the rare exceptions.

Considering the average churn rate of reps (30+%) and recruits (80+%), and the total number of individual reps with them over a 40 year history, these rare exceptions are anomalies not even worthy of a mention. A common MLM argument is "well most are part time", thereby excluding their poor performance, yet don't apply that same logic to the big whales, and include their performance. If you throw out the top and bottom earners, the rest are averaging $0 or worse.
 
  • Like
Reactions: DHK
Back
Top