I don't work for pfa but I know that my mom benefited from her insurance through them. Some are legit with good opportunity while some are a downright scam. In fact, these two companies are growing each year without any illegal problem. Thank you! Only difference? Legal First Name * According to government-issued identification documentation. Once they pay the $125 membership fee and buy the . PFAs argument that the company and its employees are based out of Georgia was also rejected. Premier Financial Credit Union. Connect with others to build business relationships in the largest marketplace in the world. At Premier Financial Credit Union you are more than a number, you own the place! Easy account access on the go! Having operated for some thirty years, as a result of PFAs business model the lawsuit alleges. If you have fallen for a scam, you can post your experience here to warn others. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). This organization is a scam. Applications must be postmarked by March 1, 2023. In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. PFA and WFG are both legitimate company, not a scam. $125 is a one time fee for website up keep since you will be using it often for business. Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. ", "You're never too young for life insurance. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. If you think someone is trying to scam you, this is the place to ask about it. this Insurance MLM they are stealing ppl money. A case management conference has been scheduled for January 13th, 2020. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. Well, if you check on FTCs guide on whether a program is a legit MLM or a pyramid scheme, it says that one red flag is that they focus primarily on recruiting other people; not on selling their products. I hope you enjoyed my Premier Financial Alliance review. In our review we found an astonishing lack of information provided to potential PFA retail customers or indeed, whether retail sales were even possible at all. PFA has not persuaded the Court that any other factorscosts of litigation, ease of access to sources of proof, availability of compulsory process as to former employees or associates, etc.would favor transfer to Georgia. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. 155 Kapalulu Place, Honolulu, HI 96819 By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Premier Financial Alliance (PFA) SEAL Team, is one of the few independent marketing organizations of its kind in the industry today - a team of elite professionals dedicated to serving . Founders David Carroll. The wechat (a popular social networking platform), instagram,facebook, and twitter posts made during the class period boast of luxury vehicles, grandiose trips, expensive fine dining. ", "Before, Iwas making money. A hearing to decide the arbitration matter was scheduled for July 19th. As a new Premier Marketing Associate you will be instructed that the key to attaining success in your business lies in assisting each of your . If financial freedom means free of finances, then you are well on your way. Company Premier Financial Alliance Seal Team. This Credit Union is federally insured by the National Credit Union Administration. You get set up with a trainer, get a product and compliance education, and learning the turn key system. failure to submit sufficient evidence that plaintiffs affirmatively agreed to the terms of the Premier Financial Alliance Associate Marketing Agreement (AMA) by clicking a box in an online registration form. Mmmm yeah that is not for me. While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. All it says is that they are selling your dream but if I know, this is a way to attract people. Premier Financial Alliance instructed Plaintiffs and continues to instruct other associates to peddle this policy to other people who, in turn, are instructed to sign up more associates, and so on and so on, ad infinitum. Disclaimer | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by iPipeline, 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph: 402-423-5002 Ph. You can check more insurance companies here. Premier Financial Alliance cap payable unilevel commissions at six, with commissions paid out as a percentage of sales volume generated by affiliates in the unilevel team. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. So, youre looking for a source of income that wont put your name and money at risk? Equal Housing Opportunity. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. I didn't like that I had to give them 50 of my personal contacts. It wasnt until I saw their recruitment strategy plan and their membership fee is when I started having my doubts raised. Dedicated Agent Support. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! If you think someone is trying to scam you, this is the place to ask about it. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph. 1 General Admission ticket. Other than MLMs, one of the most questionable products or services is insurance, and perhaps thats one reason why there are people who dont have it yet. The court also noted that so many of PFAs affiliates reside in California. Read More. January 12, 2022. Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. 112 were here. Broker at Premier Financial Alliance Seal Team. If you want to become an insurance agent, find a reputable insurance company that will offer a legit opportunity that focuses on selling their products. ATM Finder. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Top 6 Working From Home Tips and Tricks. ", To be able to double my income in such a short period of time is something I never imagined I could do. Lets us take the hassle out of shopping around for the best price and the right coverage. If you have fallen for a scam, you can post your experience here to warn others. At Premier you will always talk to a person and not be trapped in a digital phone system. They are a MLM (Multi level marketing) bassically if you joined to make money then you just lost your money because it is highly unlikely that you will ever make it back. They can agree that this is the best company we have joined by far. Although prospective associates are told they will be able to maintain their own insurance business, the policy bought and sold through the pyramid is significantly overpriced. Let me explain to you and answer your question. Valley Strong Credit Union operates as a financial cooperative. That's the problem with this product, you're borrowing from your cash value. As a new Premier Marketing Associate you will be instructed that the key to attaining success in your business lies in assisting each of your clients to reach their financial goals. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Ever wanted to have a super profitable online business but lack the ability or desire to create products and struggle to drive traffic, generate leads and convert sales? Stated aims of the class-action include establishing. Need Assistance? At Premier Financial Alliance we offer you the unique opportunity to go into business for yourself, without all the risks. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. This is a help forum - bad advice will get you banned, and we do not consider "just joking" to be a defense of advice that would be harmful if followed. Life insurance you don't have to die to use - it just makes sense. Oops! p.s. That's for any industry you go in. No compensation plan. Business Profile for Premier Financial Alliance. However, we do know that the plaintiff's lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. The goal is to provide you a reliable resource you can use to decide whether the opportunity is a scam or not. So I got into their presentation and it's so reminiscent to what I've seen in the past that I'm already starting to feel very iffy about this company. PFA and WFG does not make money of recruiting people. I actually have heard of this company for 3 years now. Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. Notify me of followup comments via e-mail. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. Press question mark to learn the rest of the keyboard shortcuts. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Lan Zhang appears to be a top Premier Financial Alliance affiliate. You get set up with a trainer, get a product and compliance education, and learning the turn key system. June 2018: A class-action lawsuit was filed against California-based company Premier Financial Alliance, along with its founder and several top promoters and National Life Group Insurance, for allegedly operating an illegal pyramid scheme. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. Is he supposed to have used a life insurance for that? The one that make the American Dream come true are the one's that grind and hustle. Operating Status Active. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Press J to jump to the feed. April 10, 2023 | 6:00 PM | Altona Supper Club. Now I lost $125. As long as you are willing to learn about it, I dont see any problem at all. Serve your client, Serve your team, and required always put other people first before. I would suggest to you vadude1, to give this a try. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. So why don't we? Phone number *. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. Career. Daily lunch (Sept 27-29th) Early check in September 25, 2022. Press question mark to learn the rest of the keyboard shortcuts, http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam, http://sajha.com/sajha/html/index.cfm?threadid=111838, http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. Also if you look and really think about it, MLM is everywhere. Talk to the one who invited you. Tickets purchased by May 31, 2022. Need Assistance? Financial security and freedom is an idea that all seek. $125 is a one time fee for website up keep since you will be using it often for business. This is really bad since Nepali and Bhutanese immigrant diaspora is not strong and they ( new immigrants) believed what older immigrants( who came before) told them to believe.Bad part is most of agents are older immigrants. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. Permanent life insurance protection with a cash value component. Premier Financial Credit Union Mobile Logo. Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. Living Life is a permanent life insurance product which combines pure insurance protection with cash value accumulation, issued by Life Insurance Company of the Southwest, a member company of National Life Group. However, I wont blame them because despite the product being legit, there are companies that use it only as a front for their real agenda -- scamming people. The culture, organization, and leadership are great. But what if you could turn that idea into your reality? do the same thing. I would NEVER recommend that anybody join an MLM. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. Theres even a lawsuit filed against them by prosecuting attorneys in June 2018, claiming that the brand has never sold any of their products, in this case, insurance. Recruitment is a part of their system; however, if the attention is put heavily on this, it becomes a red flag. MLM is legal business system that has been around and proven to be very efficient. Something went wrong while submitting the form. This is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. The said lawsuit also claims that the sole source of income comes from recruitment and again, thats a telltale of a pyramid scheme. Create an account to follow your favorite communities and start taking part in conversations. 5.2 miles away from Premier Financial Alliance. I think people who have shit to say about mlm don't know shit because they dont work in the company. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. We are a Insurance Broker representing over 50 carriers. No marketing is done to retail customers. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. Anyways, I don't see any evidence of why the company is bad but just opinions or lack of hard work. Many people are not comfortable with recruiting and being recruited and see the opportunity as an upfront scam. 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