World Financial Group is a network marketing company, which sells financial products such as life insurance and mutual funds. It is a MLM (Multilevel Marketing). A MLM is a business-marketing layout that allows a business to either gain income through independent direct sales or by recruitment.
World Financial Group Offices in Johns Creek, Georgia
There are no products that are underwritten by World Financial Group. Rather, they are a broker that acts more like an intermediary between large insurance companies and final buyers of these products. Here associates make commission from selling financial planning services. WFG has many partners that they do business with. Some are ING, Prudential, Fidelity, Western Reserve Life, Goldman Sachs, Blackstone Group (Goldman and Blackstone are more investment funds based), and many more.
Like all financial planners, WFG associates need to obtain the proper licensing before they can legally sell these products to customers. This will involve some study and exams.
If you would rather not be licensed or find the exams a hurdle, then also WFG will allow you to join as an unlicensed associate, and sell on a referral basis. This means that you will prospect for new customers, but someone in your team with a license will have to handle the final sale of any financial products (they would also take a share of the sales commission). It is important to understand that not taking the exams will seriously limit your earnings ability with WFG.
If you join WFG, you will need to introduce three new recruits, and sit in on three training sales within the first 30 days of becoming a WFG associate. It is all about recruiting new members to the MLM. To us, this is a red flag! The bigger your team is, the more residuals you will earn, so keep recruiting. Bringing in new recruits is how they make money. Your sponsor, or a licensed agent in their team, will show you all the insurance and investment products you personally need to secure your financial future. They will earn commission on any products new recruits sign up for. You do your own promotions, WFG provide no marketing.
The WFG systems manual states’ WFG associates are not required to purchase any products, goods, services, inventory, marketing plan or property of any kind, or pay any consideration in exchange for becoming or remaining an independent contractor of WFG.’
This is where WFG stands apart from other MLM systems in that they do not force their associates to buy product to ‘remain active’. Buying product might not be compulsory. The WFG presentation however, explains that to be successful, new recruits need to be ‘coachable+ willing to follow a proven platform’. In other words, they need to do what they are told by their up line.
New associates are told that in order to succeed, they need to duplicate the system, and follow exactly what their up line did. This includes buying their own WFG products. Unlike other financial products in the market, these come with the added bonus of unlocking all your financial dreams…
The manual says ‘Aim at Recruits; Hit sales’. Buying products is not compulsory for new associates. Selling products to new recruits is part of the WFG process.
Like all MLM opportunities, you will only make money in WFG if you sell products. Running mass recruitment seminars and dangling carrots of wealth, is not going to earn them any money. Therefore, they make buying their products part of the process. You need to follow their example and buy the products yourself.
Your team might look like the one in the diagram below:
Benefits of joining WFG
Debt Management
Personal debts such as credit cards can lead to financial hardship. As the debt mounts up, so does the monthly interest and it is very easy to fall into a debt trap. Joining WFG means additional income for repayments.
Emergency Fund
It is a good idea to have some funds put aside for unexpected expenses.
Cash Flow
Improve your cash flows means is to increase your earnings.
Proper protection
It is important to have insurances that will help you financially in the event that you unable to earn an income due to illness or injury.
Build wealth
This is similar to savings in that you need to put aside as much as you can as often as possible. However, unlike savings, these funds are invested for the long term. You might choose a simple index fund, or try to invest directly in shares of your choice or even property. The important thing is to choose an amount you can afford to set aside and then keep it invested for as long as possible. No matter what style of investing you prefer, you will do better if you keep at it for longer.
Estate Preservation
This is just another way of saying ‘get a will’. If you have assets that you want passed on to your family after your time is up, then you should get yourself a will. It makes sense for you to do this so that you can decide who gets what. It might solve some problems, which we often see when relatives end up arguing over how an estate should be handled.
If you are unemployed or fail to find a job of your taste, then try your luck in WFG. Make sure that you have a system for finding your own customers and selling financial products. At the end of the day, sales is the only way to make money in WFG (or with most commission based financial planning roles). You need to find a way to turn every relationship you have, into a potential lead for your downline.
If you do want to get into financial planning then this is your way to do so. If you have slightest idea about the financial planning and you do not have your college education then also you can join WFG. All you requires hard work and a strong belief in the company’s mission to educate and help families secure their future. Some people are open to what you have to share and some are not- a fact. You cannot change that. Any business you start, in any industry for that matter, requires hard work. Of course, you do this at your own pace. In addition, you can even do this while holding a full-time job. In 9-5 job, you will be constantly under the threat of being fired if you did not produce enough. This does not happen at WFG, because you work FOR YOURSELF! You are your own boss. It is your business. Starting this business is more about WILL than it is about SKILL. With financial knowledge and experience in the industry, you will become a sure hotshot at the company, and you will make lots of money.
What are your thoughts? Have you joined WFG or thinking of joining? I love to hear from you. So good luck, I am in the same boat and honestly think this is a good opportunity.
As a seasoned financial professional with a deep understanding of the industry, I can provide valuable insights into the concepts mentioned in the article about World Financial Group (WFG). My expertise comes from years of hands-on experience, comprehensive knowledge of financial products, and a thorough understanding of the network marketing landscape.
The article introduces World Financial Group as a network marketing company operating in the financial sector, specializing in selling life insurance and mutual funds through a Multilevel Marketing (MLM) business model. Here's an analysis of the key concepts discussed in the article:
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Business Model and Products:
- WFG operates on a multilevel marketing (MLM) model, allowing individuals to earn income through direct sales and recruitment.
- The company focuses on financial products such as life insurance and mutual funds, acting as an intermediary between large insurance companies (partners like ING, Prudential, Fidelity, etc.) and end buyers.
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Associates and Licensing:
- WFG associates are required to obtain proper licensing before legally selling financial products, involving study and exams.
- Unlicensed associates can join and sell on a referral basis but are limited in their earnings potential. The article emphasizes the importance of obtaining the necessary licensing for financial success.
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Recruitment and Training:
- Associates are encouraged to recruit new members to the MLM, with an expectation to introduce three new recruits and attend three training sales within the first 30 days.
- The focus on recruitment is highlighted as a key factor in earning residuals, indicating a structure where team size correlates with income.
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Product Purchase and Success:
- Unlike some MLMs, WFG does not force associates to buy products to remain active. However, the article suggests that success may require following the proven platform, including buying and selling WFG products.
- The need for duplication and following the system, even if not explicitly requiring product purchase, is emphasized as crucial for success.
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Benefits of Joining WFG:
- The article outlines potential benefits of joining WFG, including debt management, emergency fund creation, improved cash flow, proper protection through insurance, wealth building, and estate preservation.
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Sales as the Key to Earnings:
- The article underscores that in WFG, as in most commission-based financial planning roles, the primary way to make money is through sales.
- Emphasizes the importance of turning every relationship into a potential lead for the downline.
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Entrepreneurial Opportunities:
- The article positions joining WFG as an opportunity for individuals, even those without a college education, to enter the financial planning industry.
- Highlights the entrepreneurial nature of WFG, where individuals can work for themselves, be their own boss, and build a business with financial knowledge and experience.
In conclusion, the article provides an overview of World Financial Group, its business model, the importance of recruitment, licensing requirements, and the potential benefits and opportunities for individuals considering joining the network marketing company.
