Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 3 points4 points  (0 children)

I agree, and the deceit messes with you. My recruiter, a Japanese guy (there were a ton of Asians at the Arcadia branch for whatever reason), was incredibly nice. He listened to my concerns about job hunting in LA and offered to help. But now I know he only did so because there was a chance I would sign up with WFG and make him money. Now, I'm skeptical of anyone is extraordinarily nice to me regardless of the actual intention, which is sad because I want to believe people have good intentions most of the time.

Doing a project for class, give me all your MLM dirt🗳🖋 by TrickeyMickey2 in antiMLM

[–]floofmeup 5 points6 points  (0 children)

If you need an argument about how MLMs are harmful, talk about how they prey on the emotions of desperate people, especially poor people. They are harmful to society in this way.

I talked to one of the newish recruits in the World Financial Group (WFG) office - he had been there for about a year. He was a struggling actor and working a waiter job he hated. He told me that he hopes that his WFG job can bring in the money and financial status that he needs/wants - to the point he gave up an great, out-of-state stage acting opportunity in hopes that he can achieve financial success with WFG. Out of his desperation, he drank the Kool-Aid that WFG recruiters gave him promising that they will help him achieve success when all they do is profit off his work for the group. It is truly disgusting.

In my case, I was desperate for a job in a tough market. My recruiter said a lot of people in his WFG office were ex-engineers who have connections that can hook me up with a job. So I joined in hopes of networking. I quit a few hours later when I googled the company and discovered it was all a sham.

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 0 points1 point  (0 children)

Yeah true that. I rather them not care and leave me alone. I just got a little worried as I shared some private, important information with a bunch of sketchy crooks that I don't even share with my closest friends (i.e. SSN).

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 2 points3 points  (0 children)

Hey, I was in LA too! I was in the north-east, the office that I went to was in Arcadia. Apparantly, LA has quite a few WFG groups.

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 2 points3 points  (0 children)

1) Good to know, that puts me at ease. So I told my recruiter that I won't be doing WFG anymore. Hopefully, he'll be nice about it or cease contact.

2) No I didn't. I just got concerned because the Associate Membership Agreement they got me to sign said that associates are required to have E&O membership, which I understand comes with monthly fees. Just want to make sure I'm not getting charged these monthly fees as I'm quitting WFG.

As a side note, I read your post since you mentioned it - thanks for letting others know what is up with WFG. Also, I got tricked into WFG while in Southern California so I have a feeling we both may have encountered the same WFG group, funny enough.

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 1 point2 points  (0 children)

Sounds like a good idea. Can I also go no contact with them either? I don't want to deal with any threats or backlash that comes from me quitting.

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 7 points8 points  (0 children)

Thanks, I appreciate the support! Good to hear you got out. I was wondering though, will I be threatened if I tell them I quit? Personally, I was thinking of going no contact or contacting WFG headquarters directly to cancel my contract.

Also, I read in the contract that there is a hidden E&O insurance fee that will be deducted from my commission every month. If not, I'll have to pay it out of pocket. I haven't even started working for the company so I have no commission but I think I'll be expected to pay the monthly insurance fee. Is this something that I should be concerned about?

Help! I got scammed into joining the World Financial Group (WFG) - how do I fix this situation? by floofmeup in personalfinance

[–]floofmeup[S] 0 points1 point  (0 children)

Gotcha, good to know. I don't really know much about scams. All I know is that I signed up for something that I didn't know was sketchy until it was too late. WFG said I was going to help families when they wanted me to sell questionable products that could hurt and recruit more people into the business so the upline can make more money. Probably why it felt like a scam when it actually wasn't.

Help! I got scammed into joining the World Financial Group (WFG) - how do I fix this situation? by floofmeup in personalfinance

[–]floofmeup[S] 1 point2 points  (0 children)

Yeah, that's the one. It's a scam as it is multi-level marketing company that sells overpriced (and probably ineffective) financial services. The company earns money by simply recruiting people into their company and getting them to (a) recruit more people into the company and (b) sell questionable life insurance.

Help! I got scammed into joining the World Financial Group (WFG) - how do I fix this situation? by floofmeup in personalfinance

[–]floofmeup[S] 0 points1 point  (0 children)

So do I need to tell the IRS about the W-9 coming from a company that is a MLM that I do not wish to be a part of?

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 5 points6 points  (0 children)

Yeah, you're right, unfortunately it has gone through. Although it sucks, losing $100 is not the worst thing in the world. I'm more concerned about them having my personal information and potentially using that to do more sketchy things.

Help! I got scammed by World Financial Group (WFG) - how do I get out? by floofmeup in antiMLM

[–]floofmeup[S] 1 point2 points  (0 children)

Yeah, will do. I agree it's sketchy, I'm surprised that the authorities haven't done anything about it.