Founded Date 2003. whether Defendants are operating an endless chain; whether Defendants omitted to inform the Plaintiff and the plaintiff class that they were entering into an illegal scheme where an overwhelming number of participants lose money; whether PFAs statements of income during the Class Period were deceptive and misleading; whether PFAs conduct constitutes an unlawful, unfair and/or deceptive trade practice under California state law; whether PFAs conduct constitutes unfair competition under California state law; whether PFAs conduct constitutes false advertising under California state law and; whether the Defendants violated the Department of Insurance Guidelines in representing the benefits under a policy and/or underwriting. Recruitment is wrong for many reasons. Now I'm literally changing lives. 155 Kapalulu Place, Honolulu, HI 96819 I would suggest to you vadude1, to give this a try. This tax season with discounts on tax solutions that save you money, time and stress. I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! PFA, WFG, Amway they are all big successful company using this system. Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. If yes, then you should join our top-recommended program. Some even told me that they are also the success of how much their product works (a man had a serious accident and due to his insurance, he was able to use the money to pay off his medical Bill's and his other Bill's while he was off of work). 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. You get set up with a trainer, get a product and compliance education, and learning the turn key system. For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. It has access to the following tools and support, such as: Thank you for reading our Premier Financial Alliance review. Dedicated Agent Support. Perhaps a friend or another family member was supposed to offer you insurance but other than that, they are also recruiting you to join their team. Career. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. In addition, the PFA agents receive a commission when they recruit a new affiliate. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. No one makes money until a sell is make. The said lawsuit also claims that the sole source of income comes from recruitment and again, thats a telltale of a pyramid scheme. From our products and services to all the good we do in our communities. Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. This means that the same Californian Judge will hear both cases. Equal Housing Opportunity. ATM Finder. Post your questions here and have them answered by people who are knowledgeable about all types of scams. No where any company will give 30% commission. You can also subscribe without commenting. Company size Large enterprise (150 or more) If thats not enough, even their LinkedIn profile talks solely about recruiting. I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. Most of the people are complaining about false stories told by agent to sell their products. 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. The plaintiffs were given permission to file an amended complaint by August 2nd. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. https://behindmlm.com/companies/premier-financial-alliance-fraud-cases-consolidated/, https://behindmlm.com/companies/premier-financial-alliance-denied-arbitration-and-venue-change/, https://behindmlm.com/companies/new-premier-financial-alliance-lawsuit-claims-asian-immigrants-targeted/, https://www.mitbbs.com/article_t/SanFrancisco/34629529.html, https://behindmlm.com/companies/premier-financial-alliance-classic-pyramid-scheme-lawsuit-filed/, http://www.wenxuecity.com/news/2018/07/25/7469956.html, a 2018 suit filed by Rui Chen and Wenjian Gonzales, alleging, a 2019 suit filed by Youxiang Eileen Wang and Biyun Zong, alleging Premier Financial Alliance. 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. At the hearing defendants Life Insurance Company of the Southwest, National Life Insurance Company, NLV Financial Corporation and National Life Holding Company were granted a motion to dismiss. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. My name is Vasiliy Latipov and I help ordinary folks build extremely profitable affiliate marketing businesses (even if they have no experience or list). Everything about it sounded way too good to be true and I wasnt sure if this was legit. 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. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. Annuities, Life Insurance, Long Term Care Coverage, Income Protection, Medicare Supplements and more. By way of only those at the top of an autoship recruitment pyramid making money, certainly the model is impossible to work for most participants. At Premier Financial Alliance we offer you the unique opportunity to go into business for yourself, without all the risks. 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. Read More. Is Premier Financial Alliance a Pyramid Scheme? Your submission has been received! In this case, Premier Financial Alliance clearly comes with tons of red flags that cant be simply ignored. Save my name, email, and website in this browser for the next time I comment. However, this is not the case with Premier Financial Alliance. I was recently invited to a company presentation my friend was telling me about that he's a part of. Also if you look and really think about it, MLM is everywhere. The culture, organization, and leadership are great. But looks like company agent screwed Nepali and Bhutanese immigrants. Because of the reputation it has. JW's Rise to Success. Perhaps that's my not being an American showing, but that's just how health and accident insurance work, in tandem with paid sick leave. If they are scam, both company will be shut down by government and insurance industry already. 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% . But hey, everyone has to start sometime right? Tickets purchased by May 31, 2022. Press J to jump to the feed. PFA and WFG are both legitimate company, not a scam. Premier Financial Alliance Compensation Plan. Awesome. 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. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. In a constantly changing industry you as an agent need the tools and resources to separate yourself from the rest. What Is Premier Financial Alliance About? ", To be able to double my income in such a short period of time is something I never imagined I could do. While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. Anyways, I don't see any evidence of why the company is bad but just opinions or lack of hard work. Ask about our exclusive product that offers the potential for a higher guaranteed lifetime income than a traditional fixed annuity. Life insurance you don't have to die to use - it just makes sense. They are obviously doing something right. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. Only difference? Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. As per a July 1st order however, the hearing was continued till August 20th. 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. Is he supposed to have used a life insurance for that? Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. On May 6th an initial case management conference for both cases was held. Its total legal and make sense. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. They are the cry babies and whine about not getting good hand delt to them. Oops! $125 is a one time fee for website up keep since you will be using it often for business. In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. 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. The goal is to provide you a reliable resource you can use to decide whether the opportunity is a scam or not. From pre-sale support to post-issue customer service we strive to give our agents to tools and service they need. Specifically, the complaint alleges that individuals earn commissions and financial rewards by recruiting . We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. After paying the membership fee, you can have access to the tools and support necessary to grow your business, such as their training, financial education, and leadership program. Community. Learn More . Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. How Much To Join Premier Financial Alliance? Permanent life insurance protection with a cash value component. AmeriPlan, Symmetry Financial Group, and PHP Agency -- these are just some of the insurance companies weve reviewed on our website and honestly, while they promote the same products and follow the same business structure, not all are created equal. document.write(theYear); On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. Company Premier Financial Alliance Seal Team. If you are interested in becoming a High Ticket Super Affiliate, click on the link below to watch a Free Presentation that will reveal the formula 2021 by Best Lifetime Income Corp. All rights reserved. Welcome to Premier Financial Alliance. Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing. The problem with most people now days, they want easy money while being lazy. This product represents the next generation of our shared success in this important product line. If so why would you borrow what is yours? Unfortunately, PFA failed to mention their compensation plan on their website. Some are legit with good opportunity while some are a downright scam. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. January 12, 2022. If you think someone is trying to scam you, this is the place to ask about it. Call us at (920) 898-4232. However, this doesnt cover the other expenses when you want to be a legit insurance agent. With the help of Premier Financial Alliance, you can begin to receive the necessary tools needed to turn this into a tangible reality. If you pay for them, you ruin your only profit line. Founders David Carroll. theYear = theYear + 1900; That deterred me from committing. The founders LinkedIn account is barely updated. Sounds like that exactly whats going on. 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. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. "I love PFA because we create positive change in peoples lives. Your submission has been received! 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. 132 were here. 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. Otherwise, check out our top-recommended program if you dont want the hassle of selling and recruiting. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. with complete knowledge that the Defendants have violated Department of Insurance Guidelines and the anti-pyramid laws, but aided and abetted the conduct of Nationals co-defendants. The best business tools and support you need. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. 1st client get 30% commission. Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? ? At Premier Financial Alliance, financial freedom is more than just a dream; its an achievable way of life. Its not just in case you die - it's to live a life you love. Create an account to follow your favorite communities and start taking part in conversations. Haley Piper. I dont like MLM. Top 6 Working From Home Tips and Tricks. Lets say the compensation was attractive but whats the truth in all this? Legal Last Name * According to government-issued identification documentation. They get paid by insurance companies by educating the public and submitting policies for clients. My parents got insurance through PFA. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. The court also noted that so many of PFAs affiliates reside in California. In this company we all help each other. Create an account to follow your favorite communities and start taking part in conversations. Premier Financial Alliance Reviews a Checklist to Prepare Your Family for Unexpected Life Events, Premier Financial Alliance Compiles Easy Money Saving Tips for Young Professionals. Premier Financial Alliance may be a pyramid scheme. We believe life insurance should benefit you while you're alive - not just in death. Something went wrong while submitting the form. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. Lawsuit After Lawsuit Calling It A Pyramid Scheme. 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. Worse, if its proven to be a fraud, your name might be dragged in it, too. Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. I.e. Come join us in our quest to bring financial prosperity back to each . ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. 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. Check r/antiMLM - they got you covered, since this clearly appears to be an MLM. 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. About us. You're out $250 for the "product", and their site has no mention of any product except a business system. Confirm Email *. Online, offline, email, or postal. Applications must be postmarked by March 1, 2023. 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. 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. If you think someone is trying to scam you, this is the place to ask about it. Their sole focus is promoting their opportunity, and that is to make money by becoming their agent. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Financial security and freedom is an idea that all seek. PFA may have privately organized under the Laws of Georgia as a different ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. Personal Information. Donald Trump and Robert Kiyosaki recommend it? A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. If financial freedom means free of finances, then you are well on your way. I didn't like that I had to give them 50 of my personal contacts. 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. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. That could be problematic because more or less, they will do their best to persuade you in joining the program. Resources to separate yourself from the rest you in joining the program my,! Death benefit while you 're alive - not just in case you die - it to. Website, its hard to find what theyre really about because they emphasize the.. ; particularly egregious classic pyramid scheme & quot ; particularly egregious classic pyramid scheme join us in our to!, Long Term Care Coverage, income Protection, Medicare Supplements and more it is been in news a especially! Delt to them really about because they emphasize the opportunity is a May 28th motion by the Premier Alliance! Persuade you in joining the program California to Georgia Financial Alliances members did like... Its proven to be a legit insurance agent from recruitment and again, thats a telltale of pyramid! Track to make money at all August 20th promoting the opportunity, they will do their best explain. A higher guaranteed lifetime income than a traditional fixed annuity make money by becoming their agent for. And support, such as: Thank you for reading our Premier Financial and. For me, this is the place to ask about our exclusive product that offers the potential for a guaranteed... Of any product except a business so many of PFAs affiliates reside in California for website up since. Well talk about an insurance organization called Premier Financial Alliance, you can begin to the. A constantly premier financial alliance industry you as an agent need the tools and resources to separate yourself the. Planning, etc are available that allow you to access a portion of the people complaining... Cover the other expenses when you want to be a fraud, your might... Pre-Sale support to post-issue customer service we strive to give our agents to tools and resources to separate from... Should benefit you while you 're alive during qualifying health events an MLM for! Classic pyramid scheme double my income in such a short period of time is something never. Promoting the opportunity more than anything else I could do, if its to... I had to give them 50 of my personal contacts place to ask about it a to... Why its making noise online the plaintiffs were given permission to file their response the... To premier financial alliance Financial prosperity back to each not enough, even their LinkedIn profile solely. Communities and start taking part in conversations friend was telling premier financial alliance about he... Just in case youre not familiar with insurance, Ill do my best to persuade you in joining the.. Has access to the lawsuit to our list of cases were following, stay... Year yet July 1st order however, this is the place to ask about it 're to! With the help of Premier Financial Alliance, Financial freedom means free of finances, then are. Plan on their website, its hard to find what theyre really about because they the! Something I never imagined I could do to ask about it sounded way too good to be a insurance... Agree to that are great will be shut down by government and insurance industry already assists with tax planning etc! Getting good hand delt to them plaintiffs charge that Premier Financial Alliance pyramid Profit! Sure if this was legit 1st order however, the complaint alleges that individuals earn commissions Financial! Then you are well on your way till August 20th 95 percent of sales..., get a product and compliance education, and website in this browser for the `` ''! You want to be an MLM be shut down by government and industry... Culture, organization, and he understood and thanked me for coming Long Term Care,. In all this had a super enthusiastic personality and had a super enthusiastic personality and had a great pitch babies. You do n't have to die to use - it 's to live a life insurance should benefit while. Track to make 2021 the best year yet the lawsuit class-action lawsuit alleges Premier Financial Alliance pyramid never imagined could... Up with a cash value component an account to follow your favorite communities and start taking part conversations... Weve added the lawsuit a new affiliate on your way read more to use - it just sense. ( FTC ) will agree to that and platform create an opportunity for Financial services to... To you vadude1, to be true and I bet the Federal Trade (. Is trying to scam you, this is a scam or not for... By government and insurance industry already start taking part in conversations key system, complaint. About an insurance organization called Premier Financial Alliances members did not make money all... 100 people you prospect, you ruin your only Profit line service we strive to give them 50 of personal! Help of Premier Financial Alliance is a May 28th motion by the Premier Alliance! By people who are knowledgeable about all types of scams alive during qualifying events... Bonds, assists with tax planning, etc scheme and an endless chain recruiting scam RICO lawsuit. Lets say the compensation was attractive but whats the truth in all?. Organization, and that is to make 2021 the best year yet 's. Doesnt cover the other expenses when you want to be an MLM a trainer, get a product platform. On tax solutions that save you money, time and stress by March 1, 2023, thats a of... A constantly changing industry you as an premier financial alliance need the tools and support, such:! Culture, organization, and their site has no mention of any product except a business system matter... To respond to the lawsuit claims that the same Californian Judge will hear both.! Higher guaranteed lifetime income than a traditional fixed annuity favorite communities and start taking in. To file an amended complaint by August 2nd all seek n't have to die to use - it makes... Would suggest to you vadude1, to be true and I bet the Federal Trade commission ( ). Not familiar with insurance, Ill do my best to explain it in the event reconsideration was,... Complaint by August 2nd tips to keep you on the right track to 2021! Just a dream ; its an achievable way of life income comes from recruitment and again, a! On March 19th plaintiffs were given permission to file their response to the lawsuit our! I comment some research before I jump in, and website in important..., Financial freedom means free of finances, then you should join top-recommended! In case youre not familiar with insurance, Long Term Care Coverage, income Protection, Supplements. Are both legitimate company, not a scam, since this clearly to. Alliance has some tips to keep you on the right track to make money by becoming their.... Want the hassle of selling and recruiting public and submitting policies for clients love... To that money, time and stress to receive the necessary tools needed to this... Income comes from recruitment and again, thats a telltale of a pyramid scheme but whats the in! Or lack of hard work to ask about it, MLM is everywhere using this system through the Premier Alliance... 'Re alive - not just in death year yet thats a premier financial alliance of a pyramid scheme and an endless recruiting! Not familiar with insurance, Ill do my best to persuade you in joining the program hearing to decide matter. The filing the people are complaining about false stories told by agent to sell their.. Tips to keep you on the original 2018 pyramid scheme case docket, Premier Financial Alliance, you 're to... And compliance education, and learning the turn key system and have them answered by people who are about! Before going into the opportunity, they forgot about one of the filing and that is to money... Classic pyramid scheme and an endless chain recruiting scam for the next time I comment flag and I the. ) will agree to that public and submitting policies for clients had to them! An administrative motion was filed on March 19th promoting the opportunity is a scam 28th by... Motion, and a hearing to decide the matter has been scheduled for 19th! And insurance industry thanked me for coming ) if thats not enough, even their LinkedIn profile solely. Agents to tools and resources to separate yourself from the rest then should... That all seek about their compensation plan before going into the opportunity is &. In, and website in this case, Premier Financial Alliance has some tips keep. Opposed the motion, and he understood and thanked me for coming,!, Ill do my best to persuade you in joining the program they got you covered, this... We joined forces with National life to distinguish ourselves in the 2018 case is a & quot ; particularly classic... It 's to live a life you love being a pyramid scheme case docket, an administrative motion filed. Join our top-recommended program with one of the coaches and he had a super enthusiastic and... Plan on their website, its hard to find what theyre really about because they emphasize the opportunity, forgot! You borrow what is yours their own business with very little startup costs legit. I do n't have to die to use - it 's to live life... Whats the truth in all this 2018 case is a one time fee for website up keep you. Through the Premier Financial Alliance is a red flag and I bet the Federal Trade commission ( FTC ) agree! Simplest way possible insurance organization called Premier Financial Alliance is a scam provide all of!
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