World Financial Group scares the heck out of me...
February 24, 2011 7:36 AM   Subscribe

Please share your knowledge of and/or experiences with World Financial Group.

My brother-in-law is beginning to get involved with World Financial Group. I am extremely wary of them, having read various negative things about WFG in web forums, and also because their promises of an exorbitant income seem too good to be true. My husband and I went to a couple of meetings ourselves, and found them creepy and annoying. We watched the couple who persuaded us to give it a try grow to be desperate, pushy and disingenuous. I'm very concerned that any money he spends on trying to build up a practice with them will go right down the toilet, and this is not something that he and my sister can afford to have happen. However, I can't find many specific examples or clear explanations of why WFG is nothing more than a scam. Some people clearly do make money through WFG. Please help me to present him with some reasons why he should steer clear. All I know at this point is that they tend to suck money out of people interested in becoming part of the business with various fees, educational expenses and office rental costs, and that they sell people products that they don't need. I would be very grateful if anyone can give me more specific information.

If I'm out to lunch and this is a valid business, I'd love to hear about that too.
posted by kitcat to Work & Money (2 answers total) 1 user marked this as a favorite
The Financial Industry Regulatory Authority (FINRA) fined one of its predecessor firms for fraudulent activities.

Stay far away.
posted by dfriedman at 7:57 AM on February 24, 2011

Wikipedia also has a lot of information about various claims made against the company.
posted by dfriedman at 7:58 AM on February 24, 2011

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