World Financial Group WFG Reports & Reviews

World Financial Group WFG Reports & Reviews (5)

Reported details

Total money lost: $100
Type of a scam: Employment

I was contacted by someone from a social media group regarding an opportunity for financial education for myself as well as to help others. On JULY 23, 2021, I paid $100 towards a background check. Did further research and indeed the company is structured as an MLM with more of an emphasis on recruitment than selling financial products. The "financial products are purchased by agents, not independent customers.

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- Venice, CA, USA

Reported details

Address: West Los Angeles, Rancho Park, CA 90064, USA
Country: United States
Total money lost: $100
Type of a scam: Employment

Contacted by a friend from a long time ago. Currently unemployed due to Covid. Was then persuaded to join a zoom call by my friend and learn about some insurance products. I thought he was trying to help me out but he was just really trying to recruit me so I could recruit more people.I was charged 100 dollars “background check” to start up. Then later I would need to pay more to start getting licensed. When you start a job you shouldn’t have to pay to start. That’s the reason you start a job is to make money not pay into their scheme.

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Reported details

Phone: 6476067977
Address: 195 Walker Dr Brampton ON L6T 3Z9 Canada, Brampton, ON L6T 3Z9, CAN
Total money lost: $503
Type of a scam: Employment

I would like to file a complaint of a business opportunity that was offered to me by the agents of the company called - WORLD FINANCIAL GROUP (WFG) . Initially I was approached by this agent VISHAL PATEL assuring me of making passive income by becoming an insurance broker and selling insurance policies to people and he told me that I need to recommend this business opportunity to my friends and family members and bring in 3 referrals within 1 month and have a chance of winning $750 and a free Vegas trip to attend the WFG convention. It was clearly stated by the agent that WFG is not a multi level marketing company and then I was enrolled in the company by paying joining fee of $141.25 CAD and Vegas convention registration fee of $185.00 USD. I was called on to attend the weekly meetings and then later was told by the agent that I need to talk to my friends and family about this opportunity and tell them that this is doing wonders for me . I was also told to provide 10 phone numbers of people whom I know as referrals.I was not happy lying to my friends and family and misguiding them by telling them that I am doing very well in this business and making a fortune out of it .Then the agent VISHAL PATEL called me over the phone and told me that in order to succeed in this business I have to lie to people and tell them that this business is working wonders for me. The next surprise was when I was called for a meeting on the pretext that I will be given some training and education as the company requires every employee to have a Life License Qualification license (LLQP) and WFG helps each employee get this license. And when I had the meeting with the SMD - Senior Marketing Director of the company RAJEEV BHATIA, I was asked to buy the insurance policies from him. This came as a big shocker to me and I was very disappointed when I realized that I myself need to buy the insurance products of the company which was hidden from me right from the start. I was never informed initially that I have to buy the policies myself . I refused to buy any policy as I didn't need it and so the SMD asked me NOT come to this company anymore. I left the company and then made calls to the agent VISHAL PATEL. Unfortunately he kept rejecting my calls and kept sending me messages that he is busy and that he will call back. Till date he has never called back. Also in the AMA agreement documents of the company my signature is false. I would request the authorities to investigate into this matter and I need the full refund of the registration fee and convention fee and damages for representing my false signatures . I also saw RAJEEV BHATIA recording my credit card details in the meeting and when I questioned he said it is the company policy. Do companies like WFG have the legal right to record customers credit card details including CVV # and expiry date?

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Hi, WFG doesn't ask anyone to buy policies or attend convention. Some agents want to make money by conning people into business and getting promotions. kindly report matter to FSRA.

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Reported details

Total money lost: $245
Type of a scam: Employment

The scam is based on world financial group, which is an organization with apparently the mission to help families secure stable futures. The odd part is that is based on a. System of people who work as financial advisors with the company who have to recruit and make sales. The company focuses more on the recruiting part. You also have to be a member and only after you sign the papered are you told about having to recruit others.

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