pfs investments pyramid scheme

I went to the interview and I payed the $99 and they have all I just got snub because I was invited to a meeting while other try to tell/sell me how to get to the American Dream with Primerica doing good things for my neighbors and family etc. The agent was a very nice Italian-American woman who actually knew something about financial services. (within the next 5 years) You all have it wrong, you all WANT to see that this is a scam because It looks too good to be true, and it IS, if you have zero work ethic, and refuse to give yourself the opportunity to have a better life by actually applying yourself to something that isnt a 9-5. This affiliation between the two companies is one of the oldest partnerships inside the Primerica menu of products and is fairly popular. If you look deeper every single business entity can be labeled as a rip off because essentially take peoples money for their own financial gain. PFS Investments Inc Type: Mutual Fund Annual Costs: $129 Cost Details Average Expense Ratio: 1.09% Range Details Surrender Fees: None Commissions: Yes Roth Eligible Add to Compare Add to Favorites Set as My Product Enrollment and Questions Use the following contact information to enroll or ask questions. She wanted to help this person out of her terrible job by interviewing her for a position at her business. Hmmmm.. A pyramid scheme is an unsustainable business model in which original investors make money by recruiting others rather than by selling actual products or services. Telling people they are lazy and that you are filing complaints, get real and get a grip.To the guy who posted the God, stuff, God also put greed as a deadly sin. Im on vacation. 4. Good thing I have learned from Dr Phil! I understand everyone needs to make a buck. My experience was similar most all of have shared here. I am glad that I followed my instincts and didnt end up wasting my time. So what you are saying is that the other insurance companies must REALLY over elevate their prices. Primerica Review: Is Primerica Legit or a Pyramid Scheme? Primerica is a multi-level marketing company. Calling me rude, and saying other unprofessional things like LOL. Reported to Primerica Legal. I have an acquaintance from Facebook who floods my news feed daily with this Primerica crap. (i.e. She asked a few questions about my past work experience as well. Then she laid it on the table: I needed to go out and start recruiting. She asked me a few questions about some displays and such before asking how I liked working there. They were in my home for almost 3 hours, 10 minutes before they left (which was an hour ago btw!!) Oh my bad I guess money is a scam to you as well. I am bewildered that a casual lunch chat turned into an application, job interview, explanation of the job (in that order), and finally my being hired. The problem is that he had been doing this for so long, he has no other value in the marketplace. MLMs are legitimate but a prospectus or other similar vehicle should be required for prospective recruits just like a stock or mutual fund offering, identifying exactly what fees are involved and what is specifically required of the representative. Pyramid scheme type set up. I am sick thinking that I signed something that I didnt read, gave her my social security and address. Long story short I didnt fill out the employee application because I knew right away this wasnt for me. Anyway, flash forward to last week, I get a phone call from them. Does How the Company Works Show a Pyramid Scheme? I suffered through the classes only to never hear about my financial planning budget ever again because my reps had no idea how to put one together. I enter the building with a standard Primerica logo, inside its completely empty with only her and no receptionist. BrokerCheck - Find a broker, investment or financial advisor No way was a guy with $20,000 in debt able to cough up even $500,000 after 3 years if their figures were correct. They had told me they work with middle-class Americans, ones making from 30,000 to 160,000, not people who were making anything over $250,000. Then he explained this 3 by 3 thing where i refer three of my friends or family for this training and i get around $500 for it. I had started in 1984 and it took me until 1990 (six years) to make RVP. Because most likely many of you canceled your appointments, and during that appointment time ended up doing something unproductive anyway, like watching TV, or browsing the Internet. I didnt have to read much of this thread to decide that I am no longer going to the interview that I have scheduled for Tuesday. How come they are doing it without getting punished? But dude. Its headquarters are located in Duluth, Georgia, and the company offers services across the US, Canada, Guam, and Puerto Rico. I listened to the representatives pitch and decided to do the research like many of you on here. She starts telling me all the wonderful places her job has sent her, free of expense. (Thanks to all post-ers). Oh my god i think Im being sold something. Would you like to travel around the world if you got rich? The interview asked me only 4 questions and asked me to sign a contract looking employment form and said that I need to pay 99 dollars to pay for a background check and that i need to get a license. Yes. In legal terms, the answer is no. I just received a voice message from Primerica, they had gotten my resume off of workone job site. 1.) I walked in and saw chairs set up like there was going to be a lecture. She calls the next day and sets up a day and time to meet at an address. Now what?! This business is in a unmarked building near a woods, although that was scary enough I reasearched and found this. And he said the clients love him and are so thankful that he gets invited to birthday partys and what not like ummmm ok I dont care. What a shame. The next day I came in for the interview and something seemed a little off. You may even have to buy products before you're eligible to be paid or get certain bonuses. Came home and typed the company name into the search bar. This may be a rough road, dead end, pain, death and not get anywhere. However, Im wondering if that might be an acceptable trade-off for me, if this setting offers the gradual training and the part-time opportunity (at first) that Im seeking? Thank god for the internet and all useful information we find on it. I understand multi-level marketing all too well. I call in two weeks ago to get some assistance in lowering my policy, and I get the run around. Financial Needs Analysis 2. And again, its only gross revenue and doesnt include the costs of doin business theyre all responsible for out of pocket! At first I was questioning that, arent you supposed to use a business card? I received a call and was told someone left my name and number on his desk. I said i would decide on my method of payment. I was in the middle of Target, shopping in the electronics aisle. Website: Visit Website Phone: (800) 544-5445 Its so much worse and you cant get you to six figures even if you work your ass off. I didnt have time to listen to the whole message at first and wanted to Google the company before I returned his 1 and a half minute message. She gave me her number and asked to call claiming she was a hiring manager .. One of their representatives came up to me as i was walking into Target. They need to bring in new people all the time to train them, when all they are really doing is using up their warm market to write business. Thats why they havent been charged. Aww. they said a position in the company. (Formerly pre-paid Legas Services, membership I have had for 16 years. But Ive been coming up with excuses why i cant meet back up with him because things just didnt seem right after i left that 1st meeting. He first asked me about past employment, what im going to school for (Chemistry major), my hobbies, etc. The crazy part it that this PYRAMIDS are legal. I am suppose to have an interview tomorrow as well. And they didnt really seem to give a sh&* that I was cancelling. She gave me her spill . Surely a man that professional-looking would be deterred by someone as inexperienced as me in the room, I rationalized to myself. Im not looking for part time work. P.S.Also, as to objections from some of the above posters concerning licensure fees charged by Primerica, any financial services company must ensure that its agents are licensed, just like real estate agents (or engineers or accountants) must be licensed. My interviewer did not have a copy of my resume. Primerica is a very old company that for over 40 years has been selling insurance and financial products by way of the network marketing model. I must have looked confused because he said as he dialed, people are more likely to answer an unknown number than if they see the name. I was shocked I thought we werent doing anything wrong? Had forgotten the details but Tracy Coenens information on many posts about the 99% failure rate of MLMs, despite Primericas legitimate products have me thinking. Sizing up the interviewees professional attire I again looked around, feeling self-conscious as I really noticed for the first time how cheap and tacky the office looked with its random motivational decorations and big scoreboard marking sales and recruits. I got a call around noon from a company called PFS Investments. I make a very nice income for myself with a legitimate business. After all, he was the successful one here of the two of us. I was an ex muslim / teenager from afghanistan with 3 jobs when i got sucked into this unathecal business . It seemed way too good to be true, i was literally thinking to myself If this is real, I can finally afford college. Luring young grads seems to be low hanging fruit for these guysmostly because these hungry go-getters that dont know any better. NO legitimate for hire position will require the applicant to pay for the privilege to work for the company. She was upset and wanted to know who told me those rumors. Now, the warning flags were popping up like crazy! Also this was my first job interview, as Im a student. I knew that a job selling insurance wasnt really up my alley, and my intention was to leave the first opportunity I got, but that opportunity came when they asked me to put down $99 for an investment licensing class. Only one company filed a lawsuit in a failed attempt to prevent these upgrades. Primerica is a legitimate multi-level marketing company based in America. I assume there was a bathroom off the other direction, but I never saw it. You pray upon my people and I think you suck. He then scheduled me the day after, which after these comments I intend at missing again. Like he told me, eventually this isnt a job. Anyone who lasts with them is a masochist. MLM is not a job. Through this method, a modern pyramid scheme takes form, meaning the next generation of scams and get rich quick schemes are going to move away from cosmetics and protein powders and towards the blockchain. I started to feel a bit angry as I realized that John wasnt really interested in teaching me, he just wanted to get any recruits in that he could. I said no and he sounded surprised. also I asked for what position ? Im just worried if I tell him I thought about it and wouldnt want to proceed, he has basically ally information, Im in the same position as you i dont want to recruit others and im scared with the info they have. I dismissed the thought as finally, after several minutes, John opened his door and beckoned the man in, intruding himself again. Whats this guys deal anyway? Period. I told him I may know a few but what roles does it involve, what type of work, is there anywhere I can view more information? There were a few guests, but I kind of nodded and said hi then left them to my much-wiser business mentor so that I not blow it by saying something dumb. As I walked away, I thought it was really weird and random that this woman would just walk up to me in the middle of a Target and offer me a job. But, I didnt want to join the business they lightly mentioned because I didnt really see any real income coming from this and I knew I could make more money doing my own thing if I applied myself. Tracy is that lonely little girl in high school who no one ever liked, and was never invited to parties, probably why she hates on MLMs so much, no one ever invited her. I got a call at work late last week from a man who said hed overheard my conversation with another customer and was very impressed and wanted to talk with me about a position with his company. I returned her call on Monday and it was all very vague. He didnt think to clarify my concern so I cancelled the interview there and then. She goes to the bathroom and I quickly text my girlfriend to come and rescue me. Never realized Primerica was an MLM until reading what Tracy has posted. Its all recruit, recruit, recruit and eventually a profit will be turned when enough people are in the downline. Those people in Primerica dont know enough about it to investigate, and once they find out the truth, its really hard for them to save face and quit. I just received a call earlier today. Almost made it, but nope! It is a recruitment scheme. They are a scam! Primerica Reviews | What They Won't Tell You - YouTube Trust me, there are plenty of people who dont mind asking friends and family to buy something their selling. An hour and a half already? One person wrote that she heard people cheering YES we do that because we support the people who are working and we give accolades to them. Over the weekend my family and I went to the Disney store to get my daughter a present and as I was shopping with my daughter my husband sort of stayed behind with my son, my husband was standing over to the wall when a pair of ladies came over to him and started saying oh how sweet your daugther looks with the princess out fits and how she has 7 kids at home and yada yada, my husband was clearly uncomfortable since he did nothing to start the conversation, he started to walk over my way and they followed him towards me, the older lady asked me if I was working and I said no, im a stay at home mom she seem put off by my answer and then turned to my husband and asked him the same question, to which he answered Yes, Im a plumber she made a coment and dismissed the reply by saying that she had a better opportunity for him to make money. Most of the posters defending also seem very unprofessional and lack a certain level of education. I drove out to the location, got there 15 minutes early, so I sat in my car. I went up to him and asked him about the office manager role. Young people of united states and canada please pass this pages along to your friends . Primerica offers a variety of financial products and services to consumers through their nationwide sales force. Now that I have read the previous comments I will not be wasting my Saturday morning to interview with PFS. When I ask again what is the role of being a customer service to the company, all that he is saying was that I will be talking to their clients. The rep asked my questions, saw I am a good person who likes helping people, and told about Primericas business of helping people. Basically, i refer 3 people and make $700. Yes there are people doing it, there are also people playing in the NFL and NBA, should we promise every kid the can go pro because others are doing it? He seemed so angry, I thought. Primerica doesnt look to good to be true. Lawsuit Against Expert Witness Highlights Issue of Conflicts of Interest, Jackie What an interesting comment! remaining 50% of sallys premium go up to my trainer, (again, depending on rank%.) thank you for opening my eyes! Asked for my phone number, stating that while he didnt know my situation, he would be interested in offering me a job. He didnt even walk me to the door, shake hands with me, give me a business cardnothing! Mary wants to extend the visit. I mumbled something about Ill see what I can do said my goodbyes, and bowed out. DIV Rep, 60%.wait there is only 50% left over, okay then what does math tell us.you get it yet..they only get 50%, (PYRAMID ENDS). When I looked up this company, I saw that they had an aggregate rating of 1.6 stars out of 5 on Consumer Affairs, and I felt simultaneously relieved that I didnt let them get my bank information by putting down the $99, and horrified thinking that I could have been among the many people that this company had roped into their scheme. BTW, a presentation is not an interview. ALL THEY WANT IS YOUR MONEY . you need your own clients to start off like family or friends. Name, address, social security. mail or store pick up. The comments here are making a HUGE difference. He also mentioned talking with a number of people at Lowes about how bad the schedule is here as I realized later, he makes the rounds at stores like this, trying to entice unhappy people into a get rich quick scheme. He says he has Series 6, 63 & 7 brokers licenses. Her daughter has had rough luck a failed cornea transplant has left her half blind. ones that are not MLMs), you will keep the majority of the commission on the sales of products. Have worked as a broker before, was in an MLM in the 90s, and I just dont like being cutthroat and lying to people. Our government allows them to operate. He was strange, deceptive and refused to answer why he supposedly left this well-known company which had me a bit concerned. As an employee you will never make as much as your Manager and your Manager will never make as much as the company owner, right? I asked what does this have anything to do with life insurance, or a job? life insurance pyramid scheme companies - stmatthewsbc.org A very tan/slightly burnt, attractive young 20-something came in and spoke to the receptionist for a minute about her Florida trip and went to the back where I could now see more middle-schoolers, all dressed like they were ready to model for a Kohls back to school sale flyer. They didnt give me an estimated end time for the interview, after about an hour (I was following the MLB Draft on the side) I told them that I had to go and they asked me about the opportunity and I reaffirmed that I already have a job and they told me that they will call me in a couple of weeks about it. It doesnt state that many on the list never again achieved those sales levels. Six figures in under 3 years. For the person who did have a comment pro Primerica, I am adding this link: https://www.bbb.org/us/ga/duluth/profile/financial-services/primerica-inc-0443-6985/complaints. http://www.sequenceinc.com/fraudfiles/2013/02/is-multi-level-marketing-a-legitimate-business-method/. I know quite a few very successful business owners who started at the bottom in primerica now earning very incomes and building great businesses with great people and you cant do that working for someone else! I am starting to get suspicious. Wow i got a callcfrom Primerica and the guy jhon who called made it soumd legit. He gave his spill bout himself first then went on to explain how things work. Ive read a ton of comments on other sites as well, and this is just not cool! Peace and blessings to you. She said she wanted to talk to me about something she & her boyfriend, someone I also know, were doing, and wondered if I would be interested in going to a little meeting at her office. From that, I just wonder why he wants my wife to get involved on this.. Lol! if I say anything bad about them, he gets so upset. Of course it was muffled so I asked who is this and she repeated I told her I received a missed called from this number and was curious who was trying to reach me, so she put me on hold. Thanks for this post. As I could see in some windows and noticed these people were sitting and waiting, I figured a lot of interviews must be happening around here. He said no and proceed setting an appointment for me. I was not familiar with them, so I went in for the so-called interview. I play along, cause I dunno. Is Primerica a Pyramid Scheme? - Learn To Grow Wealth Online I feel deceived, and I feel like my classmate & her boyfriend are being deceived also. They were put off because when they ask if anyone had any questions, I raised my arms and stated above. Anyways, being a young, naive college student I listened to him and eagerly tried out the company thinking I could use them to get my Series 6 and Securities licenses and quit. Legit MLMs and pyramid scams have a few key differences. We have 40,000 new clients each month if you joined and didnt work, youre not one of the people who make money with us! Now I have my 2-15 and Im not going to waste that on just Primerica products. I just got a call tonight from someone who started to ask me about my resume. He set me an interview for 3:30 PM, but by 1:30 I had already read these reviews I decide I wasnt going to go to the interview after reading all these reviews. Primerica multi-level marketing system offers the following advantages 1. Im here because i need a different job and it sounds more like he needs me. People who work jobs get paid. Tracy says this is about recruitment and getting people to pay the initial and monthly fees. Appreciate it! Everybody is making a cut on the people below them; it goes up to four level. He said either way hed be expecting me tomorrow at 3:30pm. He said they are looking for people to sell financial products and to recruit and train new employees. 2.Investigations of Allegations of Wrongdoing The compliance structure at PFS included two primary procedures that could detect wrongdoing on the part of registered representatives. Like I said, its a dive bar and the usual clientele is pretty rough. We talk for a second longer, she makes a point of showing me her expensive car and vanity plates (I realize now how often she was trying to make displays of wealth from the moment I met her). Multi-level marketing is not a business. It became apparent to me that it was bogus the moment I walked into a completely empty office that looked more like they were about to move out. She asked for my number that way her trainer would contact me to set up an interview. Then he spent the next 5-10 minutes telling me that the company is called Primerica and what they do is sell life insurance, auto insurance, and help people with debt. I talked to the women who contacted me through LinkedIn and her husband when I first got there. And by the way in MLM you dont own a business. You have a contract under which youre permitted to shill for the MLM. You are effectively a franchisee paying a franchise fee plus a percentage of your profits to the tier above you. It occurs to me that if a person would want to try this kind of sales, then it would be just as easy to sign up with a major insurer such as Woodmen or Northwestern Mutual, NY Life, etc. What Primerica does, is after they sign up a new trainer, they get their list of friends, and the new trainer and his upline trainer go down the list of friends and make appts. And my husband just hired a newly licensed recruit to help him get his new business started but has negotiated a portion of that agents earnings as compensation for helping him get himself established AND this new agent will also be splitting his fees with the broker. Puffing up a business opportunity does not translate into real business skill. Some of the stories and comments above have been really sad. A page comes up that seems to refer to that but it quickly goes away and the main Primerica website comes up. You dum assess are just to lazy to change the direction your lives are going so you stay working for toll plazas or write articles like this fat bitch. He went on to explain that the company offers free financial health reports to perspective customers and that all they ask in return from the prospects is they offer up a list of 15 local contacts so they can hopefully recover the expense of this complimentary offer. I got suspicious and ask if this is an mlm company (I dont even know why, well, I know a lot about mlm companies from the past). He invited me to go to an event of some kind, and I agreed. I knew that kind of pushiness in indicative of something bad but I gave in anyway because like I said, I loved the couple and I really did like the financial planning part of the system. It was no way a job interview. Joe get Sally a $800 annual premium, (depending on your team members rank)(entries are REPs 25%) Joe will earn 25% of 800 =200(ONLY ONE TIME,THIS ONE TIME), (PYRAMID TIME) the remaining flows up the tunnel 75% (depending my rank) REP 25%, $200. SCAMMMMMMMMMMMMMMMM. By the time he is licensed, he has alienated many of his friends, made some money for his upline, and is now expected to trick others into doing what he was duped into doing. I thought everyone wanted/needed our products and opportunity. Its just that the whole experience left me somewhat unnerved. A company that tries to recruit through tinder is only going to do what tinder was originally intended for. Tony Thanks for your concern. Indeed, I was invited and liked. Randomly the thought popped into my head, he also said working 2-5 hours a week would mean an extra $1-2000 a month for your family but I quickly dismissed that thought. There have been plenty of examples of businesses that looked legitimate that were not. So we exchanged numbers and that was that. Even though the warning that you cant believe everything on the Internet is certainly true there are sites like this that give the true accounts of people who have been there, done that, and you should take heed. Is Primerica A Pyramid Scheme? What You Should Know About Primerica Glad I found this page though so I dont have to waste my time or money. I still like her, she seems nice. MAIN ADDRESS. . its a mess! I have an interview with them today which after reading these helpful post I will definitely not be going. It would be too painful to add up all the hours, dollars, and gas I had so far invested into this business. If someone approaches you with any opportunity of any sort, and they are not willing to divulge the name of the company, then run as fast as you can! It was sure better than his you guys arent doing anything, youre being a bunch of losers talks he usually gave at training meetings. So she asked me to go to an interview with her manager and she gave the adress and my interview is tomorrow but after reading almost all the comments above ive decided that im not going and im so glad that i saw this before going. I dropped out because most people shop for bargains rather than invest in the business. I received a phone call yesterday and on my mobile phone, which despite the fact that I am looking for a job, I only mention in cover letters or to recruiters who approach me on my landline. A lot of people like in this blog are used to trading their time for money, going from one job to another. Were 30 mins in this interview, hes asked me for $124, 3 people i have to refer who will also pay $124, my credit card info, 25 phone numbers to also call and sell insurance too, and then called my parents for a home meeting. Just got off the phone with a recruiter from Primarica, and he made it sound like he sought me out for this position. Glad I dug in deeper. The people that I know who were roped in were all pretty dumb with no college education and in a dead end job.

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