I hope theu chok on those miions $ they made when we went public . Its about finding suckers who can be talked into signing up for the MLM. He said no and proceed setting an appointment for me. He called the next day and asked to me come to his office so we could talk more. Everything else followed was muffled. I Googled the address and found out it was Primerica. MLMs are legalized pyramid schemes. The Financial Industry Regulatory Authority is accusing former broker Barkley Lundy, who worked with PFS Investments, of defrauding at least 20 customers.The self-regulatory organization claims that from at least 1/11 through 3/14, Lundy took these clients' funds and placed the money in his own bank accounts. Each of these new members usually pay an entrance fee, which is used to pay the people above them. I had them waste my time once before and am no longer interested in doing it again. Then after 45 mins he told me to come back. I said i would decide on my method of payment. Also, MLM companies are notorious for overcharging and under performing. I, as well was duped into attending an interview and I knew right away something was off. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. He actually asked my associates, first, if I was a good manager, and then introduced himself to me. They are liars, they never gave me my money back, they have all my bank info and I feel very unsafe about that. I have been in touch with the funeral director that handled the services for my father off and on. I knew immediately this was a scam of some sort. 1. 4. My Primerica Regional Vice President (RVP) well call John offered to teach me how to call them, to build my team. Very happy with Merryl Lynch, thanks. I received a call earlier from a rep, or whatever. This other guy was pleasant enough, introduced himself and politely shook my hand. It was a negative environment, no formal training, and they took all my leads. Once the new recruits, the professional-looking man and a scared-looking, awkward young guy who looked about 20 and was wearing ripped jeans and left on a bicycle, had left, John was photocopying the paperwork to put in the mailbag for tomorrow. THe credit check should be about $30. then I came across this site and read some comments . Tope Trading money for honest goods and services is not a ripoff. Shove that $99 fee up your keester. I wen to to their office and was asked to fill out an application form. May have to change my number now.what a waste of time an effort they are by simply existing. They provide 45 - 55% of the first year premium. A little bit of time, perhaps? If you want to sell insurance or investments, you are much better off with a company OTHER than Primerica. It has been at least 15 years. after hearing these non descriptive answers at this point Im like yea, ok very high chance I will not be showing up. Term Life Insurance 3. Based in Duluth, Georgia, PFS Investments is regulated by both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). Im not looking for a job. I was approached by a lady who came shopping in the store I work @ now. He couldnt have known that I am a three time college graduate, having obtained both a diploma and honours degree, in the fields of law and computers respectively, so why on earth was this happening? After he finished his little job show-and-tell, he walked out and in walked his grandmother, (Im assuming.) MLM is not a business. The interview ended there. But I guess well see what they do to me and all of my information. He signed on right there because he was impressed with their house. LOL Stacy. And no-load mutual funds through Vanguard or Fidelity beat the high expense ratios and sales charges of the ones Primerica offers. There have been plenty of examples of businesses that looked legitimate that were not. Ok guys,heres my story: I work two part time retail jobs and am seeking to leave both for one full time position. By the time he is licensed, he has alienated many of his friends, made some money for his upline, and is now expected to trick others into doing what he was duped into doing. I received a call from a woman named Mary stating that someone referred me to her and asked if I was still looking for a job. lets protest guys!!!! DO NOT give them the time of day AT ALL. He was very anxious to set me up with an interview (it was supposed to be on Monday) I wont be going! People have no consideration!!! There were about 20 other people sitting in the chairs. They are legal, but unethical. A few of my friends got roped into this. Allow me to tell you about it. It takes time, effort and tears to build something you want. Name, address, social security. Only regret filled out the intake paperwork, but kept a copy intentionally messed up. @Tracy Coenen take a look at your life seriously baby girl because youve been mislead all your life and its time to wake up for real. Pretty much what i expected, sort of. I did. . Agency Management had a staff of approximately eleven investigators and PFSI Compliance had approximately three investigators working on investigations of complaints. Second is you would stay for a career information session at my office with all of the successful interviewees and then I give more information. Im sure people are saving money, but something doesnt feel right. Money / Side Gigs. She called me today asking me about coming in. How come they are doing it without getting punished? same here. StephenH195425 [OP] Experior Financial- FRAUD! Within a couple of hours. According to their own reports, only 2.5% of their reps earn more than $36k/yr, tho even that pulls their stated average commissions down from $6k to less than $1k or less. The second warning sign was she didnt have a business card, but rather took my phone number down on a notepad and advised her business partner would call me. I got suspicious after I asked her the company name and her voice sounded muffled everytime she said it. In another spot on their website, they suggest that part-time agents may expect to earn about $500/mo (which is also $6000/yr). Like the $1000-$2000 a month for 10-15 hours a week? 12 hr days and have to many days off, I have time to put into a might work job to help me out for my goals in life. Products: Healthcare, Daily Lifestyle, And Nutrition Value-Based Products; Investment: To get started with Herbalife distributor, you'll need to purchase a starter kit worth $94.10 Commission: 15% to 50% of each product you sell. If you really want to sell financial products, youre much better off doing so through a company that is not an MLM. thats why Im not going back they called me 3 time to reschedule but I did not pick up the phone. Its a good 3 hours of my life that I will never get back. He told me Primerica can be compare to charles schwartz, and a list of fortune 500 financial companies.Anyway, thanks for saving a hour drive to the interview. Primerica offers a variety of financial products and services to consumers through their nationwide sales force. Then once the first lady satrted talking all I could see in my head was Wolfe of Wall Street. I told him I wasnt interested, but really wish I could report him to someone. Does anyone know of other companies besides Primerica that are employing these same tactics? It takes hard, Hi, I do not agree with you. The guy who stated the *69 comment, yes that does call back the last call, so why tell someone that you are blocking a call and why are you calling back a number that you already talked too?!?!? I figured that was the end of it, but she kept calling for a week after. thanks for the honest comments I well be cancelling my interview tomorrow. Thanks for the post. Nothing! 85% of people cannot pass insurance test. If I could teach that to others, that would be cool right? Do whats right. Now YEARS later Im getting calls from them. Very sad to hear all the ridiculous posts, and misleading info that is pushing people away from the company. All in cahoots. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. I need a new job BAD I dont need too be wasting time on BS it was so ridiculous. Promptly at six a man walked in and introduced himself and said he was there for an interview with John. Their RVP essentially told me he only worked with people who used the product and believed in it. Thats illegal. I think your husband and this other agent are going to be doing listings together, so they will each get part of the commission. She really did not go over what the company was about but said we will discuss during the interview and not to worry if I was not experience because they like to teach within the company. Because if they tell you the truth, you wont come in. The sheet of paper wanted my address and a list of 5 local contacts, preferably not family. Then he went even further to explain that he could help my parents lower their insurance, debt, and help me pay for my college textbooks. Same thing as he told me when I asked him why I hadnt been told about the fee to write the state exam: we give recruits information on a need-to-know basis.. too much information would overload your mind and paralyze you from making smart business decisions.. The SEC found that PFS Investments Inc. had failed to have in place effective policies and procedures to follow up adequately on three complaints received about the Dearborn registered representatives, "selling away" activities. In any event, I told him I was not interested and he hung up. Hey guys I need some help I wish I saw this before the meeting but I just got home from it. The new trainer gets nothing because he is not licensed yet. The manager said he liked me, from a business standpoint of course. Agents make outlandish income claims that consumers can make more than $1,000 weekly in the scheme and earn bonuses of tens of thousands of dollars. They make any failures out to be lazy and incompetent, unfortunately the failure rate is incredibly high. I did find it funny though, because it was clear he was representing an MLM based on the fact that his business cards didnt have an actual company name, used a generic Vistaprint background, and listed him as a Financial Coach or something like that. Income is limited and since they, were at a point in time, only selling term life, there whole pitch was buy term invest the rest, which is great considering their term to is age 99. When I walked in Spanish music was playing and the office was empty even in the so called Vice Presidents office its was empty and had fake plaques and stuff every where. Simple as that. Probably would not have been any money in the retirement funds when people went to cash out. Now this guy (who knows if he actually works at Primerica) has my SOC. Operated a pyramid scheme: The company also encourages consumers to become Financial Education Services "agents" themselves, selling the company's services to other consumers. I agree with your assessment that Primerica is not by definition a pyramid scheme. Stopped at a job fair. The problem in this country is the mindset and victim mentality nobody makes people stay small and closed minded! I immediately texted Mary to shred my application and that I was not interested. So I looked up the address and found the name of the company. (i.e. Primerica just needs to do everyone a favor and be upfront about the type of business it is. Cant there be commission only jobs? The small group of initial promotors at the top . Im going to trust my grandpa on this one. Those that ask real questions will be shown the door shortly. Obviously the recruiter was being paid on some form of commission so the sooner she got me in the office the better. He looks at me sadly and suspect. She asked for my number that way her trainer would contact me to set up an interview. Thanks for your reviews, Wasting time is the #1 sin in job hunting. Then she proceeded to ask if I had a Facebook and dont I have friends on there and I told her I dont want to ambush anyone with this and she said they may thank you, I told her no and she said what about in your phone, you dont have anyone. Grant cardone once said if you dont have haters, your not working hard enough. I think Jorge is actually Donald Trump. However the commission is low and their training program sucks. This is too real. Primerica has been helping Main Street families invest for the future since 1977. And for easy monthly payments of only $25 Im really glad I came here, because they hadnt even gotten around to mentioning the other company fees yet. They didnt get my credit card info but they have my social security number and my other info. What a crappy thing to give your life to. The whole conversation was geared towards selling me on deceptively common-sense information about what I assume to be much more complex financial decisions I have a friend who works for an insurance company, and given how much time hes spent studying for his degrees the claim that, in a few months and for $99, I could sell my friends and family (and then random strangers after that) on insurance was certainly too good to be true. MLM is: While often legal, taken to the extreme, multi-level marketing becomes a Ponzi scheme. I knew from the phone call that something was wrong. Turns out that of the top 25 life insurance companies out there, Primerica is at number 22, and they have a very small share of the entire life insurance market to begin with, even though they have more agents than every other life insurance combined. She identified herself as PFS, never mentioning Primerica. My friend convinced me to join, asking to partner up with me since he couldnt get through the door. Again, I figure worst case scenario its a connection. 1. transfer job locations to my home time and end up getting paid a little more + be with all my family + be happier. Wow thanks I have interview Monday but I will canceled. You can say all you want about how great the company is, but when a top RVP in a MAJOR metropolitan area of 30 years is sucking it, something is very wrong. Can I get your number, and maybe we can chat? I say sure, never expecting to hear from her again, and leave her my number. She also told me she was just leaving church lol. He asked if I had heard of Primerica. I was contacted by someone from Freedom Financial Services out of Charlotte, NC. Was this review helpful? No one says where these happened tiothem, and i would like to know where they live, and how many people in that area experienced the problems written about here. Hadnt I just provided 5 local contacts? Thanks guy- I am happy I did not fall for this prank. There was two guys Anthony and some dude who looked like he snorted before he came in. He sat next to me while the guy gave a speech on how much money people were making and talking bad about my job. I already worked full time for a corporate company but just needed some side income. BBB Business Profiles are provided solely to assist you in exercising your own best judgment. Theres no scheme, no one earns more unless you DO more. Well im not going to my interview today. We need educate general public ! He said they need a financial planner. I am now on the A-TEAM, she says, a daring-do group of financial managers that will change the world. He kept giving me all these big numbers and saying how easy it would be and blah blah blah and all I could think was if it sounds too good to be true, it definitely is. Still, my poor, broke self held onto the hope that it might be legit. We sat, and I patiently listened to his presentation of How to be successful at selling insurance basically. Please dont contact me again. Ta da. I graduated from college last month and primerica does prey on with people who are unemployed. Thank you for the blog Tracy. Sadly, it wasnt real. They explained how everything worked and it all seemed to be on the up-and-up. Again thanks for the information. In public. Tracy, I would be interested to hear any counsel you have for me, as I am planning to attend a Primerica information event for potential sales staffers 48 hours from now, BUT my circumstances differ from those of most posters above. Im sad to read all this because it is true. So this got more fishy. I have an interview with them tomorrow. This guy has spent 30+ years of his life working for a company that promises VERY SIZABLE returns but delivers very little. After attending a couple of the information sessions myself. Ex boss explains that he also wants me to set that up as an employee benefit. Laws have been put in place to prevent this flawed business scheme . And you say Im too lazy to work for myself? WHO calls someones parents to schedule a meeting to make them feel more comfortable to work for them. good looking into this before going to my interview today. The guy was a fast talker and everything sounded muffled. No company would ask for a $99 fee and a hundred something more to start a job. But a million questions arose when hed finished describing what it was he did, as he never quite cut to the chase of what Id be doing for the company. My own confidence in my judgment is severely shaken. I thought that was weird; if youre going around job recruiting at Target, you should probably have a business card. A manager? No, a regular job is not like MLM. Representatives of PFS troll the internet for job seekers, harvesting resumes from job sites. First off anyone can make a PowerPoint and the video was from fricking YouTube. I told him I usually work in the summer but this summer didnt work out so I started taking some summer courses. It was basically a skype interview, although it was a group interview (which they didnt tell me) and nobody else in the group showed up. So an agent sells a property, and the agent gets a commission and the office/team gets a commission. I am not unemployed and actually own my own legitimate business. When we get in rm 232 some guy said oh welcome here is the pepar to fill out, I was wondering if this is real? Glad I saw this! All pyramid schemes eventually collapse, and most investors lose their money. Why not. He said that josh said a ton of great things about me and he wanted to interview me for a position. Its all recruit, recruit, recruit and eventually a profit will be turned when enough people are in the downline. The first 20 minutes started normal. He had pulled out a 4-6 page brochure that explained why everyone needs their services. I know hedge funds can guarantee growth percentages, but never can they guarantee one that high. He launched into his clearly rehearsed and scripted talk. International Association of Better Business Bureaus. She gives me a look that says, You could very well be the son I never had! It seems like a con now. Why the need for secrecy? This sounded so eerily familiar to Primericas tactics and MO. At one point I capitulated and however intrigued I might have been over the absurdity of the whole situation, I only wanted this conversation to be over and I did bring it to an end elegantly, by saying that I appreciated the time that he had taken, making the call and am sorry that I cannot help him with what he wants, given that I dont seem to understand what that might be. But im not stupid so i looked it all up what the job was and where it actually was and this seems to be all true. I started to feel a bit angry as I realized that John wasnt really interested in teaching me, he just wanted to get any recruits in that he could. They prey on our natural vulnerabilitis and at anytime any of us can find ourselves being lured in. Also this company has to be licensed in each state by the Insurance Comissioner. also I asked for what position ? As someone whos in commission sales- I feel bad for people who fall into companies like this one. Ex boss is close with a bunch of guys who are all at Primerica around here. The recruits are required to invest money into the venture, pay membership fees. - The Anti-MLM Coalition, Primerica Financial Services: The Fake Job Interview, Jennifer McKinney Bankruptcy Round 2 and Round 3, Mary Kay Cosmetics: Destroying Half a Million Women a Year, The Pyramid Scheme Aspect of Primerica Financial Services, A Former Primerica Representatives Story, The Fraud of PrePaid Legal, Explained By a Former US Attorney. Feeling like a big dummy and annoyed with myself for giving the man my personal number, not to mention the fact he knows where I work and may come back and try again. Bogus, obviously. However, the options you'll be presented with are dependent on your age. He had his upline with him during the visit and presented me with a PowerPoint presentation. * If Primerica is a scam, how have they been in business for almost 40 years? Then I felt a bit ashamed for thinking badly as I remember Johns words to me, that he would always act in my best interest as an expert in building a business. Kudos, Anthony Pinto, your attitude will make you very successful! I literally didnt know the name of the company or the position until i walked into the interview. The first presenter is very good. This was my first piece of evidence that what they were saying literally was not adding up. I got a random call on my cell phone from a Primerica Financial Services rep in Charlotte, N.C. Said his office manager was trolling the Internet for resumes and found mine. For the person who did have a comment pro Primerica, I am adding this link: https://www.bbb.org/us/ga/duluth/profile/financial-services/primerica-inc-0443-6985/complaints. Ponzi schemes simply require a cash investment to earn returns. It was a sales job selling the best cutlery ever but in fact it wasnt. I fill out an application. wow I was suppose to have a interview with a person from pfs investments . One of my classmates from a dispute resolution class I had this past winter called me one night about a business opportunity she wanted me to check out. They really wanted my husband to come but that still wasnt happening. Why didnt I say, when he was at the bottom of page 1 that I didnt think it was the right fit and move on??? I also just had the same call and scheduled interview for friday. We sell legit insurance, that either you already have, or might need at a price that is same or lower, with same or better customer service. The critical difference between network marketing and a pyramid scheme comes down to the products and services they offer. I, pretended was interested, really put on an academy award performance. PRIMERICA pls Stop dont west ppls time!! Turns out, surprise, she does the math and she is the same age as my mother and her daughter the same age as me. This site and article is so retarded. Would you like to travel around the world if you got rich? Thank you guys. I am saddened to see this website because the information given is totally inaccurate and people will listen to this guy instead of researching on the GOVERNMENT websites to see that Primerica is an amazing company! I went 3 days ago and I had to give my info including social security number, but they didnt asked for a credit card. Im sure there will be many people who wont spend time to do the research before going but at least those who do will stay away from loosing time an money on some crooks. I called and told her straight unless u give me more info about the job I wont be doing the interview.she sounded upset and threw me a few crumbs more about this fake company BS stuff . Ive been contacted by numerous insurance agencies for employment and have never been interested in that field of employment. Im an extremely brutally honest person, so when he asked what was on my mind i told him the truth. 2.) Tracy you cant help others unless you help yourself first. So happy I dug deeper. he never gave me the company name just the address and I thought it was a company I applied to on indeed but it wasnt as soon as I got there I seen on the door primerica then I turned around and went home my friend told me about them its like a pyramid scam they want you to put money into their business and promises you will make money. Well, I didnt stick around to find out if it would work or not because I stopped going once me and my mother got a bad feeling about the company. But It didnt make sense that I was not given the company name but did get a management position for something I know nothing about. I started to say but I thought and my face must have conveyed my thoughts because he impatiently rolled his eyes and cut me off, lowering the mouthpiece slightly, look, were not supposed to, but Im here to run MY business and I know what gets results.. Very few people want to do the hard work thats required to succeed. Some guy came up to me at the grocery store today and without provocation introduced himself and told me he worked helping people through financial services and teaching people what they should have been taught in school.