WFG or Primerica? What better options are there?

Jan 10, 2019

  1. Mike007
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    Mike007 Expert

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    I was more positive in my last post, now here are some words to think about:

    The difference between running your own agency vs joining WFG is this: WFG, you work for them...They can actually release you at anytime if they wish too.

    If you own your own agency, it's like you are the owner of WFG but on a much smaller scale. You have the power to dictate how things are run, how things are paid, and how the culture of your company is. You are the head honcho. You don't answer to anyone but your clients and Dept of Insurance and their regulations.

    At WFG, you are not an owner. You are just another agent. You really have no say whatsoever. You play by their rules.

    There has been stories in MLM insurance organizations where a person was able to build a large team and got thrown out of the company. I don't know the reason why but it has happened.

    If you ran your own agency, you control your whole team, your whole agency. If an IMO releases your agency, you take your whole team and just contract with another IMO because you are the agency owner. You take your whole team with you to another insurance organization.

    If you got released by WFG, your team may not follow. They may stay there and there goes all your hard work. You just built a large sales force for WFG. You did not build a large sales force for your company, you built it for WFG.

    This is the biggest reason why I own my own agency. I'm the CEO and founder of my own insurance agency and not tied up to someone else's company.

    Understand this: When you joined a company like WFG, Primerica, or any other MLM insurance organizations....you play by THEIR Rule. Not yours. You don't own WFG. You are just another agent under their umbrella of agents.

    You may think there is not much of a difference until you get into a disagreement and then all hell breaks lose. They tell you, you are a business owner. But only a business owner under their rules, not yours. If you disagree, you may end up looking in from the outside.
     
    Last edited: Jan 11, 2019
    Mike007, Jan 11, 2019
    #21
  2. toolbelt
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    toolbelt Super Genius

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    And if you don't like their rules, tough, because your contract stipulates you have to avoid legal means and be subject to arbitration, typically at a location far across the country. Basic employment laws don't even apply.
     
  3. toolbelt
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    toolbelt Super Genius

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    Thats just it. There doesn't have to be a reason. You can be booted just because they don't like your tie. No notice, no severance.....zilch!!
     
  4. Cornelius
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    Cornelius Guru

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    Here is something which always made me say hmmmm. Companies will promote top positions as the holy grail. Yet you will hear of people in those positions leaving the company. If so great why?

    Business decision.. Build the business and invest outside of the business. In the video interview Grant Card one does with Vector LeMarque with PFS. Vector say he makes more from his outside investment then what he make from his PFS business and he is a if not the highest earner.

    So big things can happen and bad things can happen but as mentioned the organization's will protect their brand and business first.

    As companies will always do what's in their best interest so should people who sign up for these companies. Companies make changes for better or worse and then the bottom line for the agent is to make a business decision.

    At that point per contract what can you take with you. Most have no clue about the noncompete and if enforceable..
     
  5. toolbelt
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    toolbelt Super Genius

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    Hector also didn't have the internet to worry about, or the transparency it shines into the MLM industry. Nobody could simply Google a few annual reports like they can today.
     
  6. Cornelius
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    Cornelius Guru

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    In my opinion most people looking at a company in the MLM world don't do much research. Today people still say it isn't sale but no one gets paid unless something is sold.

    PFS, WFG or whomever recruit and learn to sell and a person can make bank. Get a few producing agents to override which can take care of the commission issues..

    Art Williams.

     
  7. toolbelt
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    toolbelt Super Genius

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    Sorry, but the statistics just don't show that. Making bank is an acception, an anomaly. Furthermore, those making bank typically do so via means not available to a typical rep. And fewer still sustain it.
     
  8. Cornelius
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    Cornelius Guru

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    In all things there are those in the 1%…… Not everyone is able to do what it takes to make the big bucks. It takes time and effort..

    One just needs to know there is a true opportunity and just go for what they want. Art Williams used to say no one can measure what's in a person's heart so why tell anyone don't do _______?

    For those at PFS or WFG, that just may be the best place for them. If not they can just leave.
     
  9. toolbelt
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    toolbelt Super Genius

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    And yet in the MLM industry, the hype is to make it seem like the 1% represents the 100%. And its actually 1/10th of 1% if being factual.
     
  10. toolbelt
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    toolbelt Super Genius

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    But not before they've spent $100's in their pursuit.
     
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