Posted by JanetK_CA on 5/26/10 6:50pm
Msg #338421

Ever heard from "World Financial Group"?

Has anyone been contacted by them? I don't think they're a title co, signing service or anyone who hires notaries, but they are calling notaries to recruit them for... something. Oh yeah, she said they "teach people about money", they're offering another income stream - and they want us to contact our clients. That was as much information as I could get - and when she mentioned the bit about marketing to our clients, that was all I needed to hear. End of conversation.

This was the second time I've been called by them, so I just thought I'd give a heads up.

Reply by Leticia Sandoval on 5/26/10 6:56pm
Msg #338423

They called me yesterday too! Becareful they make it sound like their hiring you to do notary work but in reality they are looking to recruit you to sell for their company on a commission basis.

Reply by JanetK_CA on 5/26/10 6:59pm
Msg #338425

Do you know what it is they're selling, just out of curiosity? (And also so I can get them off the phone faster next time they try to call. [I think it might have even been the same person that called last time. She said she had my card - implying that we had met. That's a possibility, considering I've been to a fair number of networking events over the years.]

Reply by LKT/CA on 5/26/10 6:59pm
Msg #338424

I believe they are like Primerica.....they want you to join and then recruit a whole bunch of people. Probably multilevel marketing.

Reply by Leticia Sandoval on 5/26/10 7:03pm
Msg #338428

Exactly Prime America. She said she found me on Notary Depot and in the past I was told she had my buisness card. There's some that will tell you that they need a notary and then they start asking if you'd like to make extra cash. They basically lie to you to meet with them and then they bring up their PrimeAmerica.

Reply by Lita on 5/26/10 7:16pm
Msg #338430

World Financial is a Financial Services company, as is Primerica. Primerica deals with life insurance and securities down the road, and yes, both deal with recuriting. World Financial is calling notaries, me included, making it sound like they can market you to their clients, but they want to "interview" you. Because I know of them very well, I tell them I am aware of what they do and I am set financially and have no desire to do anything other than what I am doing now, but I'd be more than happy to send them my info if they are looking for a notary. At that point they find a reason to end the call without getting any info from me. Don't meet with them unless you want their financial services or to be recruited.

Reply by MW/VA on 5/26/10 7:51pm
Msg #338438

A while back I ended up doing some signings for their "clients". Wow--big time sub-primers.
1st & 2nd loans, payment option loans, etc. They tried to get me to attend one of their seminars--no thanks.

Reply by Moneyman/TX on 5/26/10 7:28pm
Msg #338433

Re: Leticia at least get the name correct

Just because you have been lied to by a few people that does not mean that everyone in any organization is the same way. BTW, if you are going to reference another company get the name correct. The financial company you are trying to reference in connection with World Financial Group is Primerica, not Prime America or even PrimeAmerica.

I don't agree with any company attempting to recruit people by lying.

Reply by Sylvia_FL on 5/26/10 9:30pm
Msg #338458

Re: Leticia at least get the name correct

Didn't realize they were still around. I remember when they were A.L. Williams. I used to run into their agents all the time when I sold life insurance. I remember them being very pushy.

Reply by taxpro on 5/26/10 9:51pm
Msg #338459

I think they had to change their name

because of the bad reputation of A.L. Williams. In fact, I think they may have gotten into some legal difficulties as A.L. Williams, and had to reinvent themselves. Same people, same old tricks.

Reply by Moneyman/TX on 5/27/10 12:37pm
Msg #338540

No taxpro, no legal issues, actually in the state of TX

the insurance commissioner had a meeting with A. L. Williams and told him that he was going to run him out of business (because he had heard of the "bad reputation"). A. L. Williams taught people to buy term and invest the difference as opposed to buying whole life insurance (which Primerica still does today among other areas of financial services). The insurance business lobby pushed to get a law written (in TX) that if someone replaced whole life insurance with term insurance, the agent could not be paid any commission, however, if an agent replaced a term policy with a whole life policy, the agent would be paid.

The TX Governor refused to sign the law so it did not go into effect. Also, the insurance commissioner that threatened A. L. Williams ended up joining the A. L. Williams board of directors. Similar things happened in other states as well. And in fact, today, financial experts will openly admit that buying term life insurance is preferable to buying whole life insurance. Of course, certain insurance companies are still playing games with people in the way they write the term life contracts. Primerica teaches people to take responsibility for their own financial future and learn how how money works and how to read the insurance contracts for themselves.

The "bad reputation" came from the other insurance companies that were ripping off people and didn't like the fact that A.L. Williams/Primerica was teaching people the truth about how their whole life policies really worked. When someone finds out that they could have received 3-5 times the coverage for about 1/3 - 1/2 the cost, they tend to get more than a little upset with their current insurance agent. Especially when they realize that the agent that sold them the whole life policy was able to offer them (but chose not to) the lower cost term insurance.

A.L. Williams (himself) sold Primerica in the early 90's. The name change was due to the fact that A.L. Williams had acquired American Can. The name change strategy is something that the new (parent) company employed when they purchased Primerica in the 90's. When the parent company bought new companies, the main company took part of the acquired companies name as their new name. The only 'reinventing" the company has gone thru is to enlarge the number of products/services they offer and to allow people to build a company that they can own with the backing of a huge company.

In fact, Primerica was spun off earlier this year and is again a single company.

Most people that make negative comments about them have never had any dealings with them at all. Others that either could not understand the concept of building a business by starting on a part time basis or thought that it was a get rich quick (without any work on their part) feel the need to blame someone for their own failures. After all, it couldn't be the fact that they didn't put forth the effort or that they could not break out of the "employee mindset." Some people can own and run a business, some people cannot. Nothing wrong with that, it is just a fact. However, to blame someone else when things don't work out, is also, unfortunately, is also a part of most people's makeup.

No one has to be rude, pushy or any other negative action to build their Primerica business, or any other business for that fact. I do not doubt that some people may have actually been "rude" or "pushy" just as I have no doubt that some have only been perceived to be that way. A few people's actions does not mean that the entire company is that way. We all either know of or have heard about some incompetent, rude, and even pushy notaries. Does that mean that we all are that way?

I cannot speak from direct knowledge of World Financial Group, which is what the OP was about. As for Primerica: It is a great company that has helped millions of people. It is a company that is regulated by both the states and the federal government.

Reply by SheilaSJCA on 5/27/10 4:42pm
Msg #338610

How WfG was operating in my area

Back in the day, when option arms were all the rage, they would convince homeowners to use their equity and/or refi into a lower payment option loan, and use the resulting (lower payment) savings to invest in annuities and life insurance . They were pretty well established in my area and were doing loans here. I only did one closing for them about 5 years ago. I decided not long after that they were a company I would NOT want to be associated with.

Reply by Leticia Sandoval on 5/27/10 12:49am
Msg #338465

Re: Leticia at least get the name correct

I never stated that all organizations were the same and if I reference a company it doesn't mean I have to get the name correct. It sounds to me like you may be a part of this organization.

Reply by JanetK_CA on 5/27/10 1:27am
Msg #338466

At least you remembered the name...

I had a pretty good idea that was what it was, but I couldn't remember the name at all! I guessed at something else that is similar (I may have said Comerica) and she just said no, that wasn't it.

I can understand not wanting to get into a full discussion on the phone, but at least be honest about it. Also, the fact that part of their business plan is to focus on notaries and their clients makes me wonder about their ethics. No, I take that back. I worked for a big stock brokerage firm back in the 80's, so I have a very good idea about their ethics - or lack thereof. This is a case where I might allow myself to generalize a bit - although, like with everything else, there are exceptions.

Reply by Moneyman/TX on 5/27/10 12:55pm
Msg #338546

Re: At least you remembered the name/Actually, no she didn't

LOL, Janet. I know what you mean about some of the brokerage firms, especially the large ones.

The OP was about World Financial Group not Primerica. There are some products and services that Primerica offers that their clients and representatives do require the services of a notary.

Reply by Moneyman/TX on 5/27/10 12:47pm
Msg #338543

Re: Leticia at least get the name correct

"and if I reference a company it doesn't mean I have to get the name correct"

Yes, you should get the name correct, least you open you the door to show your lack of intelligence on any issue. When one starts spouting off about companies they know nothing about they have no credibility on the subject. By at least getting the name correct, someone can at least buy themselves some time before their credibility is shot.

And Yes, I used to be a part of Primerica. But for health issues I would currently still be working with them and have 2 (or more) offices in two different states. I didn't go into how incorrect you were on other issues as the OP was not about Primerica.

Reply by SheilaSJCA on 5/26/10 10:02pm
Msg #338460

I know exactly who they are, and everyone is right. They are only trying to get you to buy into their program. I met a gal, under the pretense, that she was interested in me doing closings for her, and sure enough if was WFG. She said she got my card from someone, etc.

Reply by Moneyman/TX on 5/27/10 1:02pm
Msg #338547

So there was no closings at all?

If there were no closings at all, then yes I agree with you that is a big issue. Are you sure that she was not wanting to meet with you to have you preform the closings in the future? Because we all know that a bad closer can kill a good deal when I worked as a LO for lender I made it a priority to show up at my closings or to have a closer that I knew would not screw things up be there.

If she had no intention of having you preform closings for her or her office that would be unethical.

Reply by SheilaSJCA on 5/27/10 4:33pm
Msg #338608

Re: So there was no closings at all?

Thats right, no closings. The gal who called me; I agreed to meet for coffee . She had told me she was in the financial industry and thought that maybe we would have a way to work together that would be beneficial to us both or something to that effect. She never said she was with WFG, until we met, and she gave me her card. She was not interested in my services at all as a notary to perform closings, she thought that I would be a good fit, because I am meeting with the public, and could cross sell their product. Not a good idea at all. I don't approve of anyone at a closing selling or promoting anything except the business at hand.