On November 28th defendants A JW Production, LLC, Bill Hong, The Consortium Group, LLC, Jack Wu, Rex Wu, and Lan Zhang, filed their own motion requesting the same. Financial Calculators. Life Insurance. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. PFA and WFG are both legitimate company, not a scam. 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 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. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. 100, Brisbane, CA 94005. Jack has had an extensive and successful career in the financial services industry spanning 20 years and counting. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. In this company we all help each other. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Another reason is that its challenging. I hope you enjoyed my Premier Financial Alliance review. Recruitment is wrong for many reasons. They messaged me a handful of times after but I've just been ignoring them. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. As a new Premier Marketing Associate you will be instructed that the key to attaining success in your business lies in assisting each of your clients to reach their financial goals. Thank you! 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. On January 22nd, 2019, the court denied both motions. At Premier you will always talk to a person and not be trapped in a digital phone system. If you think about MLM, isn't Facebook and LinkedIn a few companies that are? PFAs argument that the company and its employees are based out of Georgia was also rejected. Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. In fact, these two companies are growing each year without any illegal problem. 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. 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. Notify me of followup comments via e-mail. Access to P-TRAC, a dashboard that allows you to view team production and metrics. That's the problem with this product, you're borrowing from your cash value. She used that money to pay for her treatments. 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 you have fallen for a scam, you can post your experience here to warn others. this Insurance MLM they are stealing ppl money. 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. My name is Vasiliy Latipov and I help ordinary folks build extremely profitable affiliate marketing businesses (even if they have no experience or list). 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. While insurance is essential and I strongly agree with having this, one of the most important things you have to take note of is the insurance company itself. 132 were here. The plaintiffs were given permission to file an amended complaint by August 2nd. 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. Thank you! Need Assistance? Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. Something went wrong while submitting the form. If you think someone is trying to scam you, this is the place to ask about it. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. 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. Operating Status Active. The founders LinkedIn account is barely updated. How Much To Join Premier Financial Alliance? 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. Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. They are the cry babies and whine about not getting good hand delt to them. Post your questions here and have them answered by people who are knowledgeable about all types of scams. 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. 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. PFA swag bag and shirt. 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. Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. Founders David Carroll. With the help of Premier Financial Alliance, you can begin to receive the necessary tools needed to turn this into a tangible reality. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Although prospective associates are told they will be able to maintain their own insurance business, the policy bought and sold through the pyramid is significantly overpriced. 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. I dont like MLM. 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. 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. Suite 289. This is my experience and I hope you got some thing out of it! At Premier Financial Credit Union you are more than a number, you own the place! BehindMLMreviewed Premier Financial Alliancein 2016. If you think someone is trying to scam you, this is the place to ask about it. You can check more insurance companies here. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. It wouldn't hurt to make extra money right? PFA and WFG does not make money of recruiting people. Explain to you the system. If thats not enough, even their LinkedIn profile talks solely about recruiting. For 2 of the years, I was trying to research and see what they are all about. Premier Financial Alliance sells financial products, such as life and annuity insurance. Nowadays, people can sue people, company sue company every day. Haley Piper. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Ever wanted to have a super profitable online business but lack the ability or desire to create products and struggle to drive traffic, generate leads and convert sales? But hey, everyone has to start sometime right? The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. The PFA lawsuit is still playing out. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. The trick to MLM is to sign up underlings that can pay the fee. 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. A specific example cited in the lawsuit is a representation allegedly made by PFA, by which. Save my name, email, and website in this browser for the next time I comment. A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. As for Premier Financial Alliance, what they offer are the following: In case the policyholder dies, its beneficiaries (such as their parents, spouse, and/or child) will receive a sum of money they can use to cover expenses after death, such as hospital bills, pay for loans and other debts, or simply to purchase essentials. June 25, 2018. Here is a Blueprintto Owing Highly Profitable Online Business Without Any Experience REVEALED! 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. Lan Zhang appears to be a top Premier Financial Alliance affiliate. Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. Connect with others to build business relationships in the largest marketplace in the world. But what if you could turn that idea into your reality? The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. Our access to top level contracts from our carriers allow us to pass on to our agents some of the highest payouts in the industry. Stay tuned for updates as we continue to track both cases going forward. I've seen with my own eyes, this company change lives from consumers to their employees. Knowledgable and experienced mentors with you every step of the way. Premier Financial Alliance Seal Team Business details. ", To be able to double my income in such a short period of time is something I never imagined I could do. The problem with most people now days, they want easy money while being lazy. Now I'm literally changing lives. The motion sough to relate the 2018 and 2019 cases, and was granted on March 26th. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. document.write(theYear); So why don't we? Also if you look and really think about it, MLM is everywhere. 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. Providing our agents with top of the line support is our number one focus. Premier Financial Alliance Insurance Pyramid Scheme Complaint. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. Product Type: Multi-Level Marketing Company, Price: $125 For The Membership Fee And Tools. Broker at Premier Financial Alliance Seal Team. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Some are legit with good opportunity while some are a downright scam. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. 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. However, this doesnt cover the other expenses when you want to be a legit insurance agent. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! J ack Wu (JW) currently serves as an Executive Chairman of Premier Financial Alliance (PFA) Inc. (A nation-wide financial marketing company). Its not just in case you die - it's to live a life you love. Call us at (920) 898-4232. The company give 30% commision because the money not from them but come from the clients money. Need Assistance? Phone Number 888.867.6533. uChoose Rewards All rights reserved. The best way to know is have your friend explain to you how PFA make money. 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. Other than MLMs, one of the most questionable products or services is insurance, and perhaps thats one reason why there are people who dont have it yet. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. They can agree that this is the best company we have joined by far. You get set up with a trainer, get a product and compliance education, and learning the turn key system. 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. Create an account to follow your favorite communities and start taking part in conversations. This tax season with discounts on tax solutions that save you money, time and stress. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. Easy account access on the go! PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. Also if you follow their system, you actually get reimbursed what you pay for, which is crazy to me but I appreciate it. ? Post your questions here and have them answered by people who are knowledgeable about all types of scams. Find locations. 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. I believe and know now that PFA has the superior product. 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. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. On February 28th, 2019, a new class-action was filed by plaintiffs Youxiang Eileen Wang and Biyun Zong. $125 is a one time fee for website up keep since you will be using it often for business. Ask about our exclusive product that offers the potential for a higher guaranteed lifetime income than a traditional fixed annuity. Here are the top work-from-home tips from our staff. Get your ticket. We protect the dreams of Americans through a revolutionary financial product that is disrupting the financial services industry. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. A 2016 video cites Zhang as a Premier Financial Alliance President, and depicts her receiving a special birthday present from PFA founder and CEO, David Carroll. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. I noticed people sign up and don't do anything about it. Copyright Applications must be postmarked by March 1, 2023. Lost Card. Something went wrong while submitting the form. Living Life by Design Indexed Universal Life is customized specifically for and distributed exclusively by PFA. Living Life by Design Indexed Universal Life1 is customized specifically for and distributed exclusively by PFA. Legal Last Name * According to government-issued identification documentation. This naturally raised the question of what Premier Financial Alliances core priority was. What Is Premier Financial Alliance About? PFA and WFG does not make money of recruiting people. If it's through recruiting, it's a pyramid scheme. Community. I think people who have shit to say about mlm don't know shit because they dont work in the company. 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. 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.. Read More. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. 1st client get 30% commission. Financial security and freedom is an idea that all seek. Your submission has been received! A hearing to decide the arbitration matter was scheduled for July 19th. The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel. Personal Information. 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. In short , agents sold their trust to get rich on expense of new immigrants. Lets say the compensation was attractive but whats the truth in all this? The, Maine Savings is among Maines largest credit unions. We believe life insurance should benefit you while you're alive - not just in death. Death is not required to gain protection from this type of insurance. In this case, Premier Financial Alliance clearly comes with tons of red flags that cant be simply ignored. Welcome to Premier Financial Alliance. 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. Business Profile for Premier Financial Alliance. In BehindMLMs own May 2016Premier Financial Alliance review, I opined. 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. We are a Insurance Broker representing over 50 carriers. While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. Company size Large enterprise (150 or more) You're out $250 for the "product", and their site has no mention of any product except a business system. A different approach: Life insurance you don't have to die to use. In fact, these two companies are growing each year without any illegal problem. That's not really a success story. If you have fallen for a scam, you can post your experience here to warn others. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. Serve your client, Serve your team, and required always put other people first before. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. As far as I know it's a legit company. Is Premier Financial Alliance a Pyramid Scheme? To make money in PFA and WFG, it requires hard work and servant mentality. If you pay for them, you ruin your only profit line. 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. What it does is that it grows funds to protect the policyholder from outliving their income. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. https://www.facebook.com/PFA-Multi-Level-Marketing-Organization-226277401058077/, I haven't heard anything about this company but here's what showed up in web search: http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam and http://sajha.com/sajha/html/index.cfm?threadid=111838 and 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, If it feels fishy and smells a bit, I think it is wise to walk away Doug Content Director: TheDailyScam.com. Press J to jump to the feed. I actually have heard of this company for 3 years now. Tickets purchased by May 31, 2022. As per a July 1st order however, the hearing was continued till August 20th. A cost-effective option for individuals who seek coverage for a predetermined period of time. 1 General Admission ticket. Money is just by product. Because of the reputation it has. PFA is broker for Life Insurance Companies. Online, offline, email, or postal. The Premier Financial Alliance Lawsuit. I.e. Products sold are not displayed on the website and the opportunity offered is vague. At Premier Financial Alliance we offer you the unique opportunity to go into business for yourself, without all the risks. This Credit Union is federally insured by the National Credit Union Administration. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph. 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. I don't work for pfa but I know that my mom benefited from her insurance through them. Email *. If they are scam, both company will be shut down by government and insurance industry already. Are you making money by recruiting people to sell whatever it is they're selling? Awesome. Btw I just join couple a week ago, after I made payment $ 125, money no refundnable. That's for any industry you go in. Our associates are supported by a first-class team that is as passionate as you are. Worse, if its proven to be a fraud, your name might be dragged in it, too. 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. 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. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. Other drawbacks are more than enough to tell you to ditch this company and look for a better option instead. Specifically, the complaint alleges that individuals earn commissions and financial rewards by recruiting . Anyway, insurance, from the word itself, means guaranteed or assurance. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. Is Premier Financial Alliance legit or a scam to watch out for? The wechat (a popular social networking platform), instagram,facebook, and twitter posts made during the class period boast of luxury vehicles, grandiose trips, expensive fine dining. Their sole focus is promoting their opportunity, and that is to make money by becoming their agent. 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. http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. 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? 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. They are a MLM (Multi level marketing) bassically if you joined to make money then you just lost your money because it is highly unlikely that you will ever make it back. Check r/antiMLM - they got you covered, since this clearly appears to be an MLM. Because at first it seemed "too good to be true." 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). Top 6 Working From Home Tips and Tricks. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. Has this product worked with anyone? Defendants named in the lawsuit include Premier Financial Alliance, David Caroll (CEO and Founder), Jack Wu (chairman and ringleader) and his company AJW Productions, Rex Wu (field chairman), Lan Zhang (an original member of PFA), Bill Hong (conspirator). There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. 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. They get paid by insurance companies by educating the . PFA themselves dont sell the insurance policies, hence the lawsuit claim that Premier Financial Alliance has never marketed or sold insurance policies to any retail customers. Phone number *. 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). Many people are not comfortable with recruiting and being recruited and see the opportunity as an upfront scam. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. 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. 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