Premier Financial Alliance Review: Vague insurance
A marketing video on the Premier Financial Alliance website identifies David Carroll as CEO and Founder of the company.
Somewhat curiously, Carroll’s name does not appear anywhere on the Premier Financial Alliance website.
According to the “about us” page on the Premier Financial Alliance website, the company claims to have been in business for “over three decades”.
For over three decades, PFA has provided thousands of people from all walks of life the opportunity to start their own business and gain the financial freedom to live their dreams.
As an innovative leader in the financial services industry, PFA has continuously transformed people’s lives by giving them the tools they need to create successful careers.
Despite this claim, the Premier Financial Alliance website domain (“pfaonline.com”) was only registered on the 27th of August, 2009.
David Carroll (right) is listed as the owner of the domain, with an address in the US state of Georgia also provided.
A LinkedIn profile for “Premier Financial Alliance SEAL Team” exists, which links directly to the Premier Financial Alliance website.
The founding date for the company is cited as the year 2000, which again conflicts with the information provided on the PFA website.
David Carroll only lists his position as CEO and Founder of Premier Financial Alliance on his LinkedIn profile.
I was unable to put together an MLM history for Carroll, which is certainly strange considering the claims made on the Premier Financial Alliance website.
I’m not entirely sure what’s going on here, but between claims PFA is thirty years old and a lack of general information about David Carroll available, I’m flagging Premier Financial Alliance’s corporate history as suspicious.
Read on for a full review of the Premier Financial Alliance MLM opportunity.
The Premier Financial Alliance Product Line
Premier Financial Alliance’s LinkedIn entry claims the company is involved in the insurance industry.
Despite this, there is no mention or clarification of products or services sold on the Premier Financial Alliance website.
Instead, the Premier Financial Alliance website prioritizes marketing of a “career opportunity”:
As a PFA associate you will be in business for yourself but never by yourself.
Our nationwide team of experienced field trainers are with you each step of the way. You will learn our secrets to success and build your new business according to our proven and time tested strategies.
The PFA website does not disclose what the “business” is.
Another page on the Premier Financial Alliance website claims ‘PFA has gained the respect and support of a number of successful corporations‘.
No information about who these corporations are or why they respect and support PFA is provided.
A “Financial Strategies” page did look promising, however rather than detail PFA’s product line, it’s just more vague marketing.
Our proven strategies for financial preparedness enable you to plan for the future and be ready for any of life’s obstacles.
We cover you no matter what may come your way. And its simple. One product, with multiple benefits that extend over the course of a lifetime.
It’s my experience that if you have to try this hard to learn what an MLM company is selling, there’s probably something shifty going on.
PFA appear to sell some sort of service that combines insurance and personal finance. Beyond that the company fails to disclose any particulars, which in MLM is a pretty big red flag.
The Premier Financial Alliance Compensation Plan
As far as I can tell, the Premier Financial Alliance compensation plan sees affiliates sign up for some life insurance policy, with commissions paid when they get recruited affiliates to do the same.
Premier Financial Alliance Affiliate Ranks
There are ten affiliate ranks within the Premier Financial Alliance compensation plan.
Qualification criteria for the ranks is split between “Builder’s Track” and “Personal Track”.
Builder’s Track qualification relies on volume generated by a downline, whereas Personal Track qualification relies more on an affiliate’s own activity.
Both qualification methods for all thirteen Premier Financial Alliance affiliate ranks are detailed below:
Builder’s Track Qualification
- Career Associate – recruit three affiliates and generate at least “9000 target points”
- Field Associate – have a downline that has cumulatively generated 25,000 GV and recruit three affiliates who have recruited at least three affiliates themselves
- Senior Associate – have a downline that has cumulatively generated 50,000 GV and recruit five affiliates who have recruited at least three affiliates themselves
- Provisional Field Director – have a downline that has cumulatively generated 75,000 GV and recruit five affiliates who have recruited at least seven affiliates themselves
- Qualified Field Director – have a downline generating at least 100,000 GV a month from at least three unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
- Senior Field Director – have a downline generating at least 150,000 GV a month from at least four unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
- Regional Field Director – have a downline generating at least 250,000 GV a month from at least five unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
- Area Field Director – have a downline generating at least 350,000 GV a month from at least seven unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
- National Field Director – have a downline generating at least 450,000 GV a month from at least seven unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
- Executive Field Director – have a downline generating at least 750,000 GV a month from at least eight unilevel legs (each generating a minimum 30,000 GV a month) for three consecutive months
Personal Track Qualification
- Career Associate – recruit three affiliates and generate at least “9000 target points”
- Field Associate – recruit three affiliates who recruit three affiliates within thirty days of signing up as a PMA affiliate
- Senior Associate – recruit five affiliates who recruit five affiliates within thirty days of signing up as a PMA affiliate
- Provisional Field Director – generate a minimum 100,000 PV (minimum 15 recruits) over twelve months
- Qualified Field Director – generate a minimum 180,000 PV (minimum 30 recruits) over twelve months
- Senior Field Director – generate 250,000 PV (minimum 40 recruits) over twelve months
- Regional Field Director – generate 320,000 PV (minimum 50 recruits) over twelve months
- Area Field Director and higher – must qualify via Builder’s Track qualification
“Target” points aren’t defined, but appear to be PV generated based on what personally recruited affiliate spend when they sign up.
PV stands for “Personal Volume” and is sales volume generated by an affiliate’s own purchase product and that of their customers.
GV stands for “Group Volume” and is PV generated by an affiliate’s downline.
Recruitment Commissions
Premier Financial Alliance affiliates receive a commission when they recruit a new affiliate.
How much of a commission is paid out is determined by a Premier Financial Alliance affiliate’s rank:
- Career Associate – 30%
- Field Associate – 45%
- Senior Associate – 55%
- Provisional Field Director – 60%
- Qualified Field Director – 70%
- Senior Field Director – 75%
- Regional Field Director – 77%
- Area Field Director – 79%
- National Field Director – 81%
- Executive Field Director – 83%
What these commissions percentages pertain to or how much they might represent in dollars is not disclosed.
Residual Recruitment Commissions
Residual recruitment commissions in PFA begin at the Qualified Field Director affiliate rank.
The commissions themselves are paid out via a unilevel compensation structure.
A unilevel compensation structure places an affiliate at the top of a unilevel team, with every personally recruited affiliate placed directly under them (level 1):
If any level 1 affiliates recruit new affiliates, they are placed on level 2 of the original affiliate’s unilevel team.
If any level 2 affiliates recruit new affiliates, they are placed on level 3 and so on and so forth down a theoretical infinite number of levels.
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.
How much of a percentage is paid out is determined by a PFA affiliate’s rank:
- Qualified Field Director – 8% on level 1, 5% on level 2, 3% on level 3, 2% on level 4 and 1% on level 5
- Senior Field Director – 13% on level 1, 10% on level 2, 8% on level 3, 7% on level 4 and 6% on level 5
- Regional Field Director – 15% on level 1, 12% on level 2, 10% on level 3, 9% on level 4, 8% on level 5 and 2% on level 6
- Area Field Director – 17% on level 1, 14% on level 2, 12% on level 3, 11% on level 4, 10% on level 5 and 4% on level 6
- National Field Director – 19% on level 1, 16% on level 2, 14% on level 3, 13% on level 4, 12% on level 5 and 6% on level 6
- Executive Field Director – 21% on level 1, 18% on level 2, 16% on level 3, 15% on level 4, 14% on level 5 and 8% on level 6
Renewal Grid
The Renewal Grid component of the Premier Financial Alliance comes with no explanation.
I suspect however that it’s a percentage commission paid out when personally recruited affiliates renew their insurance policies through the company.
Quoted commission percentages for the Renewal Grid are as follows:
- Qualified Field Director – 1.5%
- Senior Field Director – 1.75%
- Regional Field Director – 2%
- Area Field Director – 2.25%
- National Field Director – 2.5%
- Executive Field Director – 2.75%
Joining Premier Financial Alliance
Affiliate membership with PFA requires payment of a “non-refundable” $125 fee.
Note that payment of this fee alone
does not allow you to market any of the products or to receive any compensation from PFA’s affiliated Life Insurance companies and/or any other company PFA is contracted with.
On their website, Premier Financial Alliance fail to disclose additional costs or criteria that qualify an affiliate to earn commissions.
PFA affiliate marketing material claims affiliates are required to “obtain (a) life insurance license”.
Whether this is through PFA or a third-party and potential costs are not disclosed.
Conclusion
Premier Financial Alliance is a pretty good example of how not to run an MLM company.
A target retail customer-base isn’t readily identifiable, based on a complete lack of product or service information presented on the PFA website.
The compensation plan is a bit of a mess, with percentages not really meaning anything until they are put into the context of products and/or services being paid for.
This would require costs of said products and/or services, which are again not disclosed.
In 2016 for an MLM company, this is not good enough.
Leave the alone the fact that I can’t identify whether or not retail is even a possibility within the opportunity.
If some sort of life insurance is the product offered, logically that would be sellable to the general public (non-affiliates).
Yet nowhere on the PFA website or compensation plan is there any representation that sales to retail customers are possible.
Instead it’s all about affiliate recruitment, with both the PFA website and compensation plan openly focusing on recruitment.
Another point of consideration is that if life insurance is the product, it’s most likely offered through a third-party – so what are Premier Finance Alliance as an MLM company themselves selling?
Or are 100% of the commissions paid out by third-party insurance companies? Which if the case, then begs the question what do you need to sign up with PFA for?
As far as the compensation plan goes, it’s entirely possible to achieve the Regional Field Director rank through chain-recruitment. At no point are retail sales required or mentioned.
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 – that’s a problem.
Given the vagueness presented on the PFA website, I’m inclined to suspect that is the case.
I haven’t had to spend that much time researching an opportunity just to find out what they’re selling, only to still come away empty-handed.
Approach with caution.
Someone with PFA just cold added me on facebook. Googling PFA brought me to your site. Very useful. Thank you.
Well, since you are not from the Insurance industry, some of the terminology may not make sense to you. However, it does speak to someone who comes from the insurance industry.
The target usually means target premium which is usually how the insurance industry uses to calculate total commission paid out to the broker. I suspect PFA is acting like an insurance broker then using MLM system to split commission to its agents (like Real Estate agents).
So the agents (recruits) need to get insurance license first to be compensated legally (whether or not they do under table deal is unknown). So I suspect that the point which is based on target premium is calculated as PV for personal volume or GV for group volume.
How much is the commission paid out is usually a secret in the industry and they don’t usually like to disclose that and it is different from company to company. Even the PFA associates themselves don’t really know how much unless PFA discloses to their associates which I highly doubtful.
What’s interesting is that the overall percentage paid-out is over 100% if you take the highest PV percentage 83% and the highest generation override which is 21% which is over 104%. So what’s the basis of the percentage? Percentage of what is the question to ask?
The renewal split is usually about commissions based on annual renewal premium (total) paid to the insurance company usually overall paid out is between 2% to 5% of the insurance premium depending on the companies.
Hope it will clarify some stuff for you.
-20+ years insurance veteran.
Thanks for that Jose.
This sounds like a terrible way to run an MLM company.
I love it when I read about “researchers” standing outside a building peeping through a window and speculating the goings-on inside. Then judge on what they see or don’t see.
These people tend to blame others for their misfortunes yet never hold themselves accountable for where they are in life. Good luck with that.
Legitimate MLM companies don’t hide information from their retail customers (the general public).
If I have to sign up as an affiliate to access basic MLM company information, you’re doing it wrong. Nice strawman though.
empty buildings are empty. doesn’t matter how full someone tells you it is.
By your logic, judges and cops would have to be criminal first, doctors have to get sick first, and undertakers have to die first. Absolutely hilarious, JV. Hilarious.
How do you know “where they are in life” ???
As a 15+ years insurance professional, this is a not an insurance company nor any financial institution. pyramid scheme is the best suitable name for this company.
As to the above 20 years insurance veteran, there is no TARGET in life insurance industry. We only use that term for P&C, especially in commercial lines.
for life insurance, it’s always about affordability. I tried to look up with AMBEST and state license about this company’s license capacity and their financial strength, it came out NADA.
There are jack wu and serena something on california DOI but non of them carries proper license to sell universal life etc which requires variable contract license/sec license. Dont fall for this SCAM!!!!!!!!!!!
They sell you good dream… make a lot of money… doesn’t need to be well educated…. eat fancy…. travel the around the world…..
You know, sometimes you should think it’s too good to be truth.
Sorry for those who actually joined and start lurking your friends and relatives into this scam.
Then their friends and relatives will then need to lurk their friends and relatives and so forth and so on….
Ed is wrong. TARGET is “target premium.” It IS very much a life insurance term because a universal life policy has a flexible premium.
You can pay more or less than the TARGET premium. And, you ONLY need a life insurance license. He clearly doesn’t know what he’s talking about.
That being said, I’m neither supporting nor defending this company. Just pointing out wrong info.
To those who have reviewed, researched, and asked questions, and those who are researching now – as an associate with PFA, sorry to say you all are wrong.
To start, as all MLMs we do have a start-up fee, which is actually $125 (always HAS and always WILL) NOT $150. Idk where you got that information from but your wrong.
We are in network marketing, as well as the financial services industry. The commission described in the OP is accurate.
Were contracted with many financial services companies, our primary being National Life Group (we’ve been #1 producer in life 2014, 2015, 2016, and will be 2017 – FACTS).
If you want to do ‘research’, at least go all the way through your resources and not just one website. I’ve read/heard so much negativity about (Ozedit: Offtopic derail attempt and marketing spam removed)
Glad I was able to clear the air and give the uneducated people some hope!
@Kenny
What’s the retail spread like in the company? With it presented so poorly doesn’t seem retail would be viable.
The $150 fee would have been on the PFA website at the time. Whether it was a typo who knows but it’s $125 now on the PFA website so I’ve updated the review.
PS. Yahoo spammy press-release aren’t “real news”.
where do I start with this mess! MLM is how you get paid concept! PFA is a network market company.
The exchange of good using the network marketing concept. This is the reason why you can’t find anything connected with MLM companies. OZ your comment “This sounds like a terrible way to run an MLM company.” The reason why “PFA IS Network Marketing Company!!”- NOT An “MLM Company” 🙂 (short Verison)
Hope that was helpful to all 🙂
THIS IS THE REASON WHY SO MANY FAIL, BELIEVING OTHER PEOPLE BULLs**t!
What marketing nonsense have you swallowed?
MLM == network marketing.
THank you OZ, you made my point – ” THIS IS THE REASON WHY SO MANY FAIL, BELIEVING OTHER PEOPLE BULLs**t!”
Oh by the way MLM = Multi Level Marketing
Good Luck!
Yep. You’ve certainly gone full-deep believing someone’s bullshit. Your upline’s perhaps?
Show me one “network marketing” company that doesn’t use an MLM comp plan.
MLM isn’t networking marketing, what’ll they be telling the kids next?
It makes sense now… you’re not over the pain of failure!
Good Luck with that!
If you’re finished throwing out marketing cliches, I think we’re done here.
Best of luck with your MLM opportunity.
Not sure how you even stayed in the ‘conversation’ so long Oz. Had this thrown at me late last week, ABSOLUTE scam!
Their so called “agents” don’t even know the in & out of the policy and don’t know how to properly complete the life application.
They often sold to their friends and co-workers by using National Life (LSW) even the agent don’t totally understand.
Terrible MLM just like WFG and Primerica. Many of them would not be able to survive after couple years after all their friends are being sold. Then those “agents” just left the PFA. Phuc PFA.
This website is a glowing testimonial to the statement that a little bit of knowledge can be a very dangerous thing as well as the tongue in cheek statement that you can believe everything read on the internet.
In order to understand MLM you must first understand the capitalistic business model. A manufatures makes a product. A distributor buys the product then resells it to another who may sell it to another wholesale organization who the sells it to a retail outlet who then sells it to you.
Everyone along the way makes a profit as they well should in a capitalistic society.
If you are adverse to making a profit or to being justly rewarded for you efforts, please move to North Korea.
It is a lot different than the socialistic views espoused by the liberaaly ignorant or the bull espoused by the elite class, whose goal is to dupe you into becoming one of the deplorable masses after they have stolen whatever wealth you have been fortunate to accumulate in your lifetime.
First of all PFA is in a marketing partnership with National Life Group, one of the oldest life insurance companies in America.
It offers the dying middle class a way out of the impending doom using Indexed Universal Life Insurance, a benefit for the end buyers of the product, not just the sales team, as the idiots posting here would have you believe.
The product offers benefits that are unique in the marketplace and are superior to competing life insurance products. (Ozedit: recruitment spam removed)
Most of the so-called professional critics in this post would do well to educate themselves on both economics 101 and the product before presenting their errant bullshit as credible information.
Educate yourselves and make your own decision. Don’t take my word or that of the ignorant fools who have nothing better to do with their time than to pile on and post this crap from a totally ignorant base.
^^ Looks like Premier Financial is still as vague as ever.
If I can offer some advice, if anyone tries to pitch an MLM opportunity to you and, instead of being upfront about products and retail pricing, starts harping on about North Korea and socialism – run.
Legitimate MLM shouldn’t be this complicated.
@Behindmlm here is your nail in the coffin to the PFA pyramid, & I have more if needed.
Imagine building your business, its thriving, thousands in your down line, barely working and continuously earning.
As stated in the PFA Agreement, the moment you become disabled or incapacitated everything you’ve built becomes terminated in the agreement.
Why build something you will never own, I’ve been on that side of the business model I know the ins and outs of the MLM models regardless of what Insurance mlm you are in, they will shield you from the truth!!
Got a call from a PFA rep about an hour ago, so I figured I’d do some research. I read through a few sites and PFA smells like rotten fish bait to me. I want nothing to do with their junk.
I read through all of the posts on this page and a thought occurred to me about “Steve”.
Given the nature of his remarks, I wonder if he’s aware that the Chairman, President, and CEO of National Life Group is a guy named Mehran Assadi? A guy with a name like that should scare the hell out of someone like Steve.
It doesn’t bother me, but I’m not the patriot that he is. Maybe you can pass this info along to him. 😉
I see all the %, but how are these people collecting their money?
I know people making a million plus in PFA. Recruit an agent=grt X amount of money? Sel National Group Life=X amount of money?
Then how long does it take to get paid? What is the 5/5/15K thing? Please explain.
I have been in the traditional side of insurance and decided to give PFA a shot and boy that was a horrible mistake.
My commission checks never added up, the compensation plan is bogus,there are no such contract levels in the insurance industry at 175% that’s fake.
I’ve seen 110% and maybe 120% at the most for term contracts.
All PFA is doing is adding up the personal contract level along with all the generational overrides and fooling people with the total %
They try to sway existing agents with generational overrides but in actuality they are paying you overrides from the the spread commission that they are taking from you in the first place.
Heres what really ticked my off, I was told I owned my book of business, which is not 100% PFA has a hand in it and can take it away from you at anytime, they are just waiting and praying hoping you make a mistake so they can terminate you and inherit your book of business.
I have so much more to reveal…. stay clear of PFA. Most people are not really making money dont be fooled by the rings, they need that to attract new blood.
Just look at jack wu, he is the face of the company, if he really was making money, he wouldn’t be rolling around in base model cars. LoL
Another kibitzer heard from. I am a PFA agent and I understand exactly how I get paid. Ignorance is no excuse and having a died in the wool insurance salesman mentality will not at all ensure success in a network marketing organization.
Failure to follow recommended directions is a poor excuse for failure…
What these mlm heads don’t understand is, that the insurance carriers are already structured with a tier system, similar to mlm. I bet you didn’t know that?
Most MLM heads wouldn’t know that it’s because the brain washing is so good that you are shielded from the truth.
They dont want you to know so they can give their own version of a manipulated comp plan so they can maximize their earning by taking cuts from what you should be getting, and giving you pennies in generational overrides with your own commission. YIKES!!!!
I have read all the comments and most of them are about their recruitment and the vague of the company.
I want to know despite the fact the company have a lot of negativity reviews, is the insurance PFA provided (National Life Group) trust-able or it is just a scam.
There’s no legitimate reason for an MLM company to focus on recruitment and be intentionally vague about its business offering.
Your due-diligence is up to you.
Nothing vague about the company or its products. A lot of ignorant BS here written by people who know nothing but their own limited vision and agenda.
Yet we have readers still unable to work out specifics of the business based on the intentionally vague information the company provides on its website, as evidenced by Kai’s question.
Seems nothing much has changed in Premier Financial Alliance since 2016.
A visit to the company’s website reveals the same “few paragraphs that don’t really explain anything in detail” marketing strategy. Wasn’t good enough in 2016, still not good enough today.
My advice to anyone who sincerely wants to know about PFA is to (Ozedit: marketing spam removed)
“Contact us for the real story” is not a marketing strategy any legitimate MLM company uses.
Intentionally hiding basic due-diligence information from the public is anti-consumer. Period.
Beware of any MLM business that deploys this shady strategy.
At a bare minimum you should be able to work out what an MLM company offers and how much it costs from their website alone.
If you’re feeling pressured to contact an affiliate for a marketing pitch, without feeling confident you’ve been able to work out what the business is about, run.
Just saying, this conversation from 2016 to now, 2018.
The company still there, they doing good, both PFA and National Life Group. Sales are sales. they sell good, they make money. They didn’t sell good, some will blame the company.
Thing is , no one talk about the product , no one talk about whether the client get paid or not.
indeed, just explain or complaint what this company look like. Point is, if the product is good, people can choose to buy or not.
All insurance agent need a platform to meet people to sell product. very simple. we all have friend’s recommendations. same is here.
So by saying join PFA is steal your network? All commission job somewhat will fit that conclusion.
Yeah so I don’t know where you got that from.
I’m sure there was a point or two in your ramblings, all I saw though was excuses for an inexcusable lack of disclosure.
As for “doing well”, Alexa traffic estimates tell another story.
What with Premier Financial Alliance’s anti-consumer marketing, hardly surprising retail consumers aren’t interested.
For me more than 20% annual increase in product sale year after year is a pretty good indicator of “doing well” at least consumers agree.
As for “vagueness” nationallifegroup.com is the insurance company website where one can gain a lot of product information prior to talking with an agent.
By the way National Life is the second oldest mutual insurance company in the country (174 years-A+ rating) so I think it is a fair assumption that they are also doing someting right and PFA is the largest broker of National Life products, so large that we market a propritary product that our founder, the visionary David Carroll worked with them to help create.
As for using this forum to help make a decision Kai, I would recommend that you do your own investigation.
The products are the best in the industry at filling the need they were created for, helping the middle class affordably achieve financial security and I defy anyone to show me a better compensation plan.
I been on the MLM side of insurance and the traditional side of it. PFA, sells a proprietary product through a insurance carrier called National Life Group, the product is called LIVING life which is SHIT LOL.
it’s pretty much the same thing with any other insurance organization they just add an over hyped twist which is a insurance rider called the gap rider. I have access to both illustrations so I know what I’m taking about.
Here is the biggest kicker I sit down with people at the top of these Insurance Carriers and they laugh their asses off at these proprietary products it’s just a way to bait you in as a client and agent and to brainwash you to think you got the best and rare product so they can rape you on commissions using a grid system to make you think you are getting more.
I work with one of the biggest non mlm, non pyramid scheme IMO who is the biggest producers for National Life Group.
The truth will set you free…..
What is or isn’t on the third-party National Life Group website doesn’t excuse Premier Financial Alliance’s own anti-consumer website marketing and lack of disclosure.
I know what you mean Oz. It really sucks that Apple doesn’t open their books to the general public via the internet too. Good grief.
There’s a big difference between “opening your books” and an MLM company providing basic due-diligence information on their website.
Don’t be a dumbass.
Ok dumbass…PFA does not recruit via the internet. I have yet to meet an agent who was recruited that way. (Ozedit: Derail waffle and abuse removed)
Umm, guess again:
investor.apple.com/sec.cfm?ndq_keyword=&DocType=Annual
Who said anything about recruitment? I’m talking about basic due-diligence and disclosure, which Premier Financial Alliance fails miserably to provide consumers on their website.
The fact that you defaulted anti-consumer practices with affiliate recruitment is telling. Coughcough pyramid scheme with no retail activity coughcough.
Looks like PFA is being sued, just saw a lawsuit on Google about them being a pyramid scheme.
Pyramid scheme or not run for the hills. I wouldn’t risk my money or investments with them, you just never know!!
(Chen et al v. Premier Financial Alliance, Inc. et al, Case No. 18-cv-3771, N. D. CA.)
You can download a copy of the lawsuit from: NOLINK:
truthinadvertising.org/wp-content/uploads/2017/11/Chen-v-Premier-Financial-Alliance-complaint.pdf
Stay tuned especially for the judgent and the counter suits. It’s actually quite flattering when you dominate a market to the extent that your competition gets a couple of ambulance chasers like these yahoos to attempt to discredit you.
The Easter Bunny agrees with you !!!!
LOL
Thanks guys. Out of time today but I’ll go over the suit tomorrow and see if it’s worth an article.
LMAO.
I’ll keep the details as vague as possible. I got contacted by someone offering me a “position”… to be honest I thought I was getting offered a legitimate corporate position via my network, but I then checked and it was for this company.
Person trying to recruit me into this company didn’t even give me any details of what I would do. No role description, did not ask for a resume, nothing. Whole thing was a mess and I balked out of it. I then did more research and wow, PFA is a lot more shady than I initially thought.
It somewhat frustrated me because I thought I was getting offered a serious position. Nope, just some shady insurance scheme which doesn’t even detail its own product. For shame, PFA.
a relative of mine started associating with pfa and we’ve recently signed onto one of their life insurances with national life group. should we back out?
Depends if you’re happy with the insurance or not.
I was in PFA from 2018-2019 (after a family member attended one of their meetings and convinced me to join) and I have a few things to say.
First lets start with the product, the life insurance. As far as I know the insurance is legitimate, and a great policy.
I, as well as most of my family, have plans from PFA (the actual policy is from National Life Group). At this point I’ve forgotten all the benefits and talking points but it seemed to be a very good policy.
Second, let’s talk about making money with PFA. They almost solely rely on cold adding people on facebook, insta, wechat, and other similar social media platforms.
They will post endlessly about their lavish lifestyles from vacations, to luxury cars and houses, to good food EVERYDAY.
They basically required us to post “marketing posts” 2-3 times a day minimum. We would initiate conversations with people we add online then eventually try to convince them to come into an office for what is essentially a sales pitch, in hopes they would buy a policy on the spot.
Even if you did manage to get them to bite on the insurance, you wouldn’t be able to make much money at all at the start, as most of it goes to your upline (the person who recruited you).
As a guy, this process was much more difficult. The pretty women in my branch always had more success than even the most hardworking men.
Whenever I asked my upline for advice, she always just told me “just believe in the product and you’ll find a way”, which was less than helpful.
Eventually I quit to pursue real estate because I saw no future in PFA, and a lot of the male friends I made there also quit.
I’m not sure if it is actually a “scam”. I think it could be legit, just very top heavy.
You need to fit a very specific image and have a LOT of luck to make it anywhere in PFA. They will shove cliche success stories down your throat and it WILL motivate you and keep you in their circle.
Reality is unfortunately very very different for most of us. I’d say you can consider buying a life insurance policy, but don’t join their team as an affiliate.
PS i’m 90% sure Aggie Wu is Jack Wu’s sugar baby just saying
If you’re not making much money on retail sales because most of it goes to your upline, that ties recruitment to income.
If this is a problem company-wide, it’s indicative of a pyramid scheme.
There’s a reason PFA didn’t defend a pyramid scheme class-action:
https://behindmlm.com/companies/premier-financial-alliance-settles-pyramid-scheme-class-action/
I got to this article from your most recent one where previous associates are suing the company and founders.
That was a great article that shows how even the highest associates leave the company for being controlled when they are supposed to be independent agents.
This article was also good but I did notes that its a little out of date. I got to your page after going to their page first and some of the stuff you mentioned here that is missing, they already have it up on their page. Which takes away from your articles credibility.
My recommendation will be to just update the article so others can see your research is good because I found it very useful.
There current products they provide thru National Life Group is Term Insurance, IUL (which is the same as whole life or Universal Life) and they are the worst protections for main street families, and Whole life insurance. There current focus is to sell IUL (Index Universal Life) Insurance because they do not need a securities license to sell that. Unlike Variable Universal Life.
At the end, this agents make crazy amount of money by selling whole life policies over Term and the client gets screwed because of the rules inside the contract.
Thanks for the suggestion. BehindMLM reviews are date-stamped and are intended to be as accurate as possible at time of publication.
We do review MLM companies for an updated review, typically at the request of readers.
I’ll add PFA to the review update list but it will be a while. I have to balance not much going on in regular MLM vs. the underbelly unfortunately.