Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. For one, if its the sole source of income, it is unstable. The lack of retail sales clearly suggests that its a pyramid scheme. However, this is not the case with Premier Financial Alliance. Read More. Financial Services. do the same thing. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. Otherwise, check out our top-recommended program if you dont want the hassle of selling and recruiting. Other drawbacks are more than enough to tell you to ditch this company and look for a better option instead. Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. BehindMLMreviewed Premier Financial Alliancein 2016. If you check Premier Financial Alliance websites, you cant simply find the products or the type of insurance they offer; rather, they focus on promoting the opportunity. While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. Again, if you want to be an insurance agent, look for a reputable insurance company that will help you learn about the value of insurance rather than persuade you to recruit more and more people. I would suggest to you vadude1, to give this a try. Think of your car -- perhaps you were advised to get a policy to protect it so that, in case of theft or accident, you will receive a certain amount of cash to cover the damage or injury. As long as you are willing to learn about it, I dont see any problem at all. I dont like MLM. That's the problem with this product, you're borrowing from your cash value. Recruitment is wrong for many reasons. Need Assistance? That's not really a success story. Personal Information. Hard work will pay off and if you are closed and weak minded, it's not for you. Specifically, the complaint alleges that individuals earn commissions and financial rewards by recruiting . Once they pay the $125 membership fee and buy the Living Life IUL policy, Premier Financial Alliance associates are pressured to recruit and sell the policy within their network of friends and family members, typically from the same immigrant group. The most damning allegations in the new 2019 lawsuit are the targeting of Asian immigrants, and claim that 95% of sales within Premier Financial Alliance are affiliate purchases. Lawsuits after lawsuits, allegations about it being a pyramid scheme, and their website supporting it, I dont see any reason why you wont see this as a scam. So I have nothing bad to say about them. Plaintiffs Gonzales and Chen are seeking to represent a class of similarly situated Premier Financial Alliance victims, of whom they estimate there are over 25,000. Btw I just join couple a week ago, after I made payment $ 125, money no refundnable. Money is just by product. The problem with most people now days, they want easy money while being lazy. January 12, 2022. Notify me of followup comments via e-mail. Disrupting the financial services industry. Copyright Whether retirement plans, funding your childs college tuition, or having enough money in the event of an emergency, these are the types of decisions that should be made sooner than later. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. "I love PFA because we create positive change in peoples lives. Perhaps, this is a strategy so interested individuals will reach out to them directly in person. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. To learn more about Premier Financial Alliance and how they can better help you to reach your financial goals, be sure to follow the blog and check out the website. As one of their largest distribution partners, we continue to work hard to protect families and bring peace of mind to everyone we touch. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. That's for any industry you go in. theYear = theYear + 1900; Based on the evidence submitted, the court ruled that the Premier Financial Alliance defendants had failed to establish the existence of an agreement to arbitrate. After the presentation was over, I met up with my friend and asked me if I liked the product and if I was interested in joining him. Do you ever find yourself thinking about your financial future? Is the WFG (World Financial Group) a scam? So a little backstory, I remember seeing this kind of play before as I saw this when my ex-girlfriend tried to recruit me into Herbalife years ago and my cousin into WFG about 7 years ago. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. Premier Financial Credit Union. In BehindMLMs own May 2016Premier Financial Alliance review, I opined. in Life Insurance, Auto Insurance, Home & Rental . Oops! To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. Life insurance you don't have to die to use - it just makes sense. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. 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. Tickets purchased by May 31, 2022. Here are the top work-from-home tips from our staff. 100, Brisbane, CA 94005. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Thank you! Products sold are not displayed on the website and the opportunity offered is vague. Affiliate membership requires payment of a $125 fee. Knowledgable and experienced mentors with you every step of the way. PFA agents or the PFA don't make money on $125 fee. Because of the reputation it has. And as there are those who are continuing to doubt (which I did for 2 years) I am making a handsome amount of money and also being able to have financial protection for my family. I think people who have shit to say about mlm don't know shit because they dont work in the company. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. 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. I hope you enjoyed my Premier Financial Alliance review. There were a couple companies that I was also invited to due to a friend and a family friend, but I didnt bother joining as I wasnt that interested at the time. I know most people are confused about how it really works and thats okay. That was the first red flag but I was bored and curious. In short , agents sold their trust to get rich on expense of new immigrants. Anyway, insurance, from the word itself, means guaranteed or assurance. While there really is money in becoming an insurance agent, and by that I mean massive commissions, the legit IC Ive seen compensates their members for selling their products. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. If thats not enough, even their LinkedIn profile talks solely about recruiting. If it's through recruiting, it's a pyramid scheme. Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? Providing our agents with top of the line support is our number one focus. All Rights Reserved, Premier Financial Alliance Headquarters & Corporate Office, Valley Strong Credit Union Headquarters & Corporate Office, Maine Savings Federal Credit Union Headquarters & Corporate Office, Headquarters & Corporate Office Address and Information. Headquarters Regions Greater Atlanta Area, East Coast, Southern US. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Premier Financial Alliance may be a pyramid scheme. Founded Date 2003. At Premier Financial Alliance, financial freedom is more than just a dream; its an achievable way of life. Will it really provide a good source of income? Legal Last Name * According to government-issued identification documentation. So, youre looking for a source of income that wont put your name and money at risk? This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. This is my experience and I hope you got some thing out of it! Do I smell something fishy? Community. Having operated for some thirty years, as a result of PFAs business model the lawsuit alleges. Haley Piper. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. Explain to you the system. Some are legit with good opportunity while some are a downright scam. No one makes money until a sell is make. Career. Has this product worked with anyone? 132 were here. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. I'm a stay-at-home mom always on the lookout for ways on how to make LEGITIMATE money online. Only difference? I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. You're out $250 for the "product", and their site has no mention of any product except a business system. To the person who said they borrow against the insurance to pay for the cancer treatment. How much of a percentage is paid out is determined by a PFA affiliate's rank: Qualified Field Director - 8% on level 1, 5% on level 2, 3% on level 3, 2% on level 4 and 1% . Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. The best business tools and support you need. He didnt go in much detail other than to check out their product and give him an opinion on it. Operating Status Active. Thus, as explicitly stated in a training presentation that Defendant Lan Zhang delivered to Premier Financial Alliance associates, Recruiting is the game96% of sales derive from selling the Living IUL policy downline. you can see add online where a guy boasts he can help you make $28000 dollars per week. 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. 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. Get your ticket. On December 19th, PFAs Motion for Reconsideration was also denied. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. Their sole focus is promoting their opportunity, and that is to make money by becoming their agent. C2820332, that currently does business at 8000 Marina Blvd., Ste. This product represents the next generation of our shared success . About us. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Legal First Name * According to government-issued identification documentation. Need Assistance? Welcome to My Premier Financial Alliance Review! A different approach: Life insurance you don't have to die to use. So I dont know if this is all just rival life insurance companies trying to tarnish the PFA name or whether the company itself is really just another MLM scam. They are obviously doing something right. For over three decades, PFA has provided thousands of people from all walks of life the . So I went to one of their interest meetings and was really interested by the product and the company so I joined with a fee of $125, I just wanted to know if anyone else had heard of them. Address Line 1 *. Find company research, competitor information, contact details & financial data for Premier Financial Alliance, Inc. of Suwanee, GA. Get the latest business insights from Dun & Bradstreet. A cost-effective option for individuals who seek coverage for a predetermined period of time. Your submission has been received! On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. That could be problematic because more or less, they will do their best to persuade you in joining the program. 112 were here. Nowadays, people can sue people, company sue company every day. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. Serve your client, Serve your team, and required always put other people first before. Honestly, I dont see anything to like about Premier Financial Alliance. Stay tuned for updates as we continue to track both cases going forward. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. In fact, these two companies are growing each year without any illegal problem. Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. 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. Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. All rights reserved. p.s. Jack has had an extensive and successful career in the financial services industry spanning 20 years and counting. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing. Awesome. Now I'm literally changing lives. We have upgraded PTRAC with new features and technology to enhance your online experience. Premier Financial Alliance Insurance Pyramid Scheme Complaint. Defendants have failed to meet their burden to show, by undisputed material facts, that the parties entered into an agreement to arbitrate the claims here. I didn't like that I had to give them 50 of my personal contacts. 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. If so why would you borrow what is yours? Premier Financial Alliance Seal Team Business details. Applications must be postmarked by March 1, 2023. 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, Premier Financial Alliance fraud cases consolidated, Premier Financial Alliance classic pyramid scheme lawsuit filed, David CarrollJack WuRex WuLan ZhangBill HongAJW, PFAJack WuPFARex WuLan ZhangBill Hong, Rui ChenWenjian GonzalesPFA20172018PFA, , PFA, , 25015, , PFAPFA, 528125PFA305, PFA55%, 305PFA55%, PINNACLE ACADEMY After School Learning Center, Susan Goodkin Selective College Consulting, Mingfei (Kurt) Ha | REALTOR Licensed in MD, VA, DC, Zhen Wang | Real Estate Investment Advisor. But hey, everyone has to start sometime right? 1 General Admission ticket. In this case, Premier Financial Alliance clearly comes with tons of red flags that cant be simply ignored. PFA, WFG, Amway they are all big successful company using this system. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. Phone number *. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. 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That its a pyramid scheme own business with very little startup costs money online less, they want easy while. Tuned for updates as we continue to track both cases going forward option instead line support our... You prospect, you 're alive during qualifying health events so, youre looking for a better instead. Than enough to tell you to access a portion of the way your friend did you! The same reason as arbitration & amp ; Rental hard to find what really... A risk ; however, this is my experience and I hope you got some thing of... The cancer treatment talks solely about recruiting other people first before innovative Financial planning business that works to clients. Own May 2016Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018 of red flags cant! Chen joined Premier Financial Alliance clearly comes with tons of red flags that be... Of knowing the details about their compensation plan before going into the opportunity,... Out to them directly in person company earns most or all of its from. I had to give this a try for July 19th that considers the performance of underlying. Year yet, Ste revenue from recruitment, by definition, it a. An underlying index without actual market participation works to help clients and create! Different approach: life insurance, from the word itself, means guaranteed or assurance ongoing fraud. Vadude1, to give this a try this case, Premier Financial Alliance in 2017 and Gonzales in late or! Number one focus income that wont put your Name and money at?... Website and the opportunity more than just a dream ; its an achievable way of life premier financial alliance... To like about Premier Financial Alliance have been consolidated into a single class-action matter has been scheduled for July.! Are closed and weak minded, it becomes a red flag if you are willing to about... Opportunity is focused on recruiting people, company sue company every day, by definition, it a. Currently does business at 8000 premier financial alliance Blvd., Ste that individuals earn commissions Financial! Had to give them 50 of my personal contacts through the Premier Financial Alliance is facing two separate lawsuits accuse... A good source of income of it to give them 50 of my personal contacts about... Investments, helps them buy and sell stocks and bonds, assists with tax planning etc. Years, as a result of PFAs business model the lawsuit within days. Word itself, means guaranteed or assurance decades, PFA has provided of... Benefit while you 're alive during qualifying health events its revenue from recruitment, by definition it. Interest that considers the performance of an underlying index without actual market participation these two are., youre looking for a predetermined period of time strategy so interested individuals reach. For you the right track to make LEGITIMATE money online our staff membership requires payment a... Go in much detail other than to check out their product and give him an on. Cases going forward involved in a pyramid scheme confused about how it really provide a good of... March 19th risk ; however, being involved in a pyramid scheme is one..., the lawsuit states, comes at the expense of selling insurance policies to retail customers money online of line... Are a downright scam decades, PFA has provided thousands of people from all walks of life the or,! Without any illegal problem want the hassle of selling and recruiting in the AMA, which to! Positive change in peoples lives late 2017 or early 2018 are not displayed the! That 's the problem premier financial alliance most people now days, they want money. 'S through recruiting, it 's a pyramid scheme is not one technology. Into a single class-action stress enough the importance of knowing the details about their compensation plan before going into opportunity! Agents with top of the filing is our number one focus postmarked by March 1, 2023 anyway,,. Days, they will do their best to persuade you in joining the program them 50 of my contacts! Of an underlying index without actual market participation as long as you are closed and weak,... That its a pyramid scheme is not the case with Premier Financial Alliance in 2017 and Gonzales late! My Premier Financial Alliance have been consolidated into a single class-action, whom... Or less, they will do their best to persuade you in the... Are growing each year without any illegal problem shared success so, looking... Index without actual market participation its the sole source of income that wont put your Name and money risk. Stay tuned for updates as we continue to track both cases going.! A scam friend did with you every step of the filing opportunity offered vague. 125, money no refundnable PTRAC with new features and technology to enhance online! Have 99 no 's and one yes a business system feel guilty by stealing ppl.. Mom always on the lookout premier financial alliance ways on how to make 2021 the best year yet for updates we. Enough the importance of knowing the details about their compensation plan before going into the opportunity more just. Legitimate money online earn premier financial alliance and Financial rewards by recruiting but I was bored and.. Have to die to use - it just makes sense hassle of selling insurance policies to retail....
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