Valley Strong Credit Union operates as a financial cooperative. I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. Connect with others to build business relationships in the largest marketplace in the world. You get set up with a trainer, get a product and compliance education, and learning the turn key system. 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. For instance, the Defendants market and advertising in their materials, reports, scoreboards, and charts that a Career, Associate is urged to recruit at least three people and submit three sales of minimum 9,000 points in the first thirty days of joining PFA.. Both claim to have been deceived into believing PFA was a legitimate way to make money. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. Products sold are not displayed on the website and the opportunity offered is vague. 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. If Premier Financial Alliance is indeed an MLM company full of affiliates earning commissions based on how much their recruited downlines are spending each month thats a problem. Press J to jump to the feed. At Premier Financial Credit Union you are more than a number, you own the place! You're out $250 for the "product", and their site has no mention of any product except a business system. A case management conference has been scheduled for January 13th, 2020. Premier Financial Alliance Seal Team Business details. 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. I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. 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. Death is not required to gain protection from this type of insurance. Just personal reference. 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. The trick to MLM is to sign up underlings that can pay the fee. Business Profile for Premier Financial Alliance. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. My mom ended up with cancer and took out some money from her insurance policy because she had a critical conditions rider attached to it. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. Affiliate membership requires payment of a $125 fee. 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. Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. I joined Vasiliy as a writer for Best Lifetime Income blog. If you pay for them, you ruin your only profit line. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. 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. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. Online, offline, email, or postal. To make money in PFA and WFG, it requires hard work and servant mentality. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events.2. At Premier Financial Credit Union you are more than a number, you own the place! Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Address Line 2 (Optional) MLM is legal business system that has been around and proven to be very efficient. Premier Financial Alliance is an innovative Independent Marketing Organization (IMO) that helps you achieve financial freedom through starting your own business and giving you a proven roadmap to success. JW's Rise to Success. It protects from death, accident, critical illness, or even theft. Now older immigrants(agents) are telling than insurers should have read all the conditions and you should be aware about all repercussions but vicitims think they were lied. PFA, WFG, Amway they are all big successful company using this system. 112 were here. Disrupting the financial services industry. Also if you look and really think about it, MLM is everywhere. I actually have heard of this company for 3 years now. 155 Kapalulu Place, Honolulu, HI 96819 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. In short , agents sold their trust to get rich on expense of new immigrants. Founded in, 2021 headquarterlocation.com. A hearing to decide the arbitration matter was scheduled for July 19th. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. I believe and know now that PFA has the superior product. With respect to the previously referenced parallel fraud case, a similar December 19th order denies arbitration and venue transfer too. Under PFAs compensation plan, a victim only gains a rank by recruiting people into the business opportunity. I.e. Get your ticket. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. I was recently invited to a company presentation my friend was telling me about that he's a part of. Premier Financial Credit Union Mobile Logo. While I wont directly tell you that Premier Financial Alliance is a scam or a pyramid scheme, I will let the facts in this review and the reviews of other people help you decide. The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. Legal Last Name * According to government-issued identification documentation. January 12, 2022. 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. For over three decades, Premier Financial Alliance has been the foremost leader in providing the necessary tools that clients from all around the world have been looking for. Our associates are supported by a first-class team that is as passionate as you are. 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. We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. Welcome to Premier Financial Alliance. This is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. However, the presentation did bring up a couple of interesting points in terms of life insurance and a retirement plan. If so, seeing how it sounds like he was still alive, he might have sold the insurance (at a large loss), using the remaining money for his urgent bills, and now have no insurance any more. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. 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. Something went wrong while submitting the form. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. 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. So I have to give you personal contacts and persuade them to join the team or to buy life insurance but I wouldn't be making any commission off MY contacts because I'm still "in training" and not a certified life insurance agent yet? A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. So, youre looking for a source of income that wont put your name and money at risk? From pre-sale support to post-issue customer service we strive to give our agents to tools and service they need. Premier Financial Alliance Compensation Plan. Email *. Phone Number 888.867.6533. They get paid by insurance companies by educating the . PFA has collaborated with the nation's largest insurance . Something went wrong while submitting the form. if (theYear < 1900) {
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. Your submission has been received! Your submission has been received! Did you borrow what you put in? He didnt go in much detail other than to check out their product and give him an opinion on it. Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. What Is Premier Financial Alliance About? 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. Headquarters Regions Greater Atlanta Area, East Coast, Southern US. PFA agents or the PFA don't make money on $125 fee. PFA and WFG does not make money of recruiting people. We have upgraded PTRAC with new features and technology to enhance your online experience. Ask about our exclusive product that offers the potential for a higher guaranteed lifetime income than a traditional fixed annuity. She used that money to pay for her treatments. PFA and WFG are both legitimate company, not a scam. Premier Financial Credit Union. 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. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. No marketing is done to retail customers. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. On May 6th an initial case management conference for both cases was held. theYear = now.getYear();
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 price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. In this case, Premier Financial Alliance clearly comes with tons of red flags that cant be simply ignored. Is Premier Financial Alliance A Scam? To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. In this company we all help each other. "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. Recruitment is wrong for many reasons. Knowledgable and experienced mentors with you every step of the way. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. Do you ever find yourself thinking about your financial future? 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. ? Is he supposed to have used a life insurance for that? 100, Brisbane, CA 94005. Permanent life insurance protection with a cash value component. Another reason is that its challenging. Haley Piper. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. Now I'm literally changing lives. Reddit and its partners use cookies and similar technologies to provide you with a better experience. If you have to pay to start working for them, they are not a company you want to work for, no matter what they promise. $125 is a one time fee for website up keep since you will be using it often for business. now = new Date;
While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. Company size Large enterprise (150 or more) Now I lost $125. 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. For someone who have researched and now in the company, (granted, I am always keeping my eyes open for anything I don't feel is right) but I don't see anything wrong with it. Equal Housing Opportunity. Founders David Carroll. Explain to you the system. If so why would you borrow what is yours? There are lawsuit against PFA, but they are all denied. 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. According to the FTC, if the source of your income heavily relies on the number of your recruits and not on the sales you get for selling their products, its a telltale of a pyramid scheme. About us. My only regret is not wasting as much time trying to find the "problem,"but to have started earlier. We are a Insurance Broker representing over 50 carriers. Life insurance you don't have to die to use - it just makes sense. Haley Piper. Here are the top work-from-home tips from our staff. Everything about it sounded way too good to be true and I wasnt sure if this was legit. ", "You're never too young for life insurance. That was the first red flag but I was bored and curious. 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. Easy account access on the go! 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. What it does is that it grows funds to protect the policyholder from outliving their income. Premier Financial Alliance is, according to the case, a "suspended" private organization that maintains offices throughout California and Georgia; AJW Productions is the alleged alter ego and money collection entity of the individual defendant described in the complaint as the "chairman" of the pyramid scheme; and 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. theYear = theYear + 1900;
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