World Financial Group ( WFG ), owned by Transamerica, is a multi-level marketing (MLM) company that sells financial products like life and health insurance. This multi-level pyramid structure requires too many recruits to sustain and is destined to collapse.
WFG is a legitimate business. Unfortunately, like any business, it is not perfect. The use of MLM bothers people. The fact that they’ll train anyone means they have far too many people who do not develop professional skills.
The average WFG salary ranges from approximately $33,878 per year for Agent to $138,387 per year for Insurance Agent. The average WFG monthly salary ranges from approximately $2,500 per month for Asociado/a de ventas to $30,000 per month for Agent.
The average WFG salary ranges from approximately $50,000 per year for Agent to $100,000 per year for Sales Associate . The average WFG monthly salary ranges from approximately $3,000 per month for Financial Advisor to $3,250 per month for Executive Assistant.
WFG does not hire employees they are in the business of hiring business owners who want to run their own financial business, and as any business owner they are paid on a commission only basis for products that are sold. However you won’t earn all of this money , what you earn depends on the pay scale you are earning .
With WFG , they charge a $100 start-up fee to join . And assuming you attend their convention which is highly encouraged, expect to pay another $200 to $1,000 and travel expenses and lodging to join the seminar.
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.
You cannot quit , they will always terminate an agent, so that you have no ability to sell your agent code, which is basically the book of business that you may have spent years building. Your clients BELONG to WFG . ASK anyone who has left and you will hear the same story over and over and over.
Mylett works to raise the production and development of future WFG leaders. He contributes to most of the current strategies of WFG. Mylett owes his initial career to WFG that made him earn seven figures by the time he was thirty. In this regard, he gained induction in the WFG Millionaire Hall of Fame.
World Financial Group has over 3,500 offices in the United States. The World Financial Group Canadian division, World Financial Group Insurance Agency of Canada Inc., moved to Toronto, Ontario in February 2012. In 2008, World Financial Group had over 80 Canadian offices and over 1,500 agents .
One major difference is WFG is able to offer top quality financial products from over 100 highly recognized Financial companies nationwide, whereas, Primerica only offers limited products by their own company – Mainly Term Insurance, Roth IRA’s and Mutual Funds.
“Legit opportunity with reputable company , not for people looking to be an employee” WFG is not going anywhere anytime soon. They are owned by Transamerica, a 100+ year old reputable company , which is owned by Aegon which is a Global Fortune 500 company with over 400 billion in assets.
How Much Does a Financial Advisor Make? Financial Advisors made a median salary of $88,890 in 2018. The best-paid 25 percent made $157,710 that year, while the lowest-paid 25 percent made $57,290 .
The products offered are life insurance policies, investment vehicles for retirement solutions, mutual funds, and group insurance /benefits plans for businesses. The Transamerica backed products WFG sells include: Insurance Protection. Retirement Strategies . Legacy Strategies. Long-Term Care Insurance . Business Solutions.