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. Membership Join the Credit Union! I believe and know now that PFA has the superior product. Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Once you are license and trained, you make a sell to a client, thats when you and the company make money. Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. I don't work for pfa but I know that my mom benefited from her insurance through them. Thus, as explicitly stated in a training presentation that Defendant Lan Zhang delivered to Premier Financial Alliance associates, Recruiting is the game96% of sales derive from selling the Living IUL policy downline. Premier Financial Alliance Compensation Plan. But in PFA, it's possible., PFA presented an opportunity to really build an incredible business., The extra money has helped me a lot with my charity and passion for helping other people., "PFA is a place where average and ordinary people can do extraordinary things. Life Insurance. All rights reserved. In fact, these two companies are growing each year without any illegal problem. I know most people are confused about how it really works and thats okay. If you think someone is trying to scam you, this is the place to ask about it. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. January 12, 2022. Founded in, 2021 headquarterlocation.com. 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. Lost Card. But looks like company agent screwed Nepali and Bhutanese immigrants. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. To make money in PFA and WFG, it requires hard work and servant mentality. Knowledgable and experienced mentors with you every step of the way. I wont sell this Insurance to any my friend or family. If you have fallen for a scam, you can post your experience here to warn others. 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). For one, if its the sole source of income, it is unstable. Your submission has been received! Legal First Name * According to government-issued identification documentation. As per a July 1st order however, the hearing was continued till August 20th. 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. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! Something went wrong while submitting the form. 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. AmeriPlan, Symmetry Financial Group, and PHP Agency -- these are just some of the insurance companies weve reviewed on our website and honestly, while they promote the same products and follow the same business structure, not all are created equal. MLM is legal business system that has been around and proven to be very efficient. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. This product represents the next generation of our shared success . Lawsuit After Lawsuit Calling It A Pyramid Scheme. Apple, Google, Tesla get lawsuit everyday as the company get bigger. So why don't we? Is Premier Financial Alliance A Scam? To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. Also if you look and really think about it, MLM is everywhere. Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. So I have nothing bad to say about them. Something went wrong while submitting the form. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration. You can also subscribe without commenting. 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. Premier Financial Alliance Seal Team Business details. For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. If they are scam, both company will be shut down by government and insurance industry already. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. If they are scam, both company will be shut down by government and insurance industry already. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. 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. Premier Financial Alliance is, according to the case, a "suspended" private organization that maintains offices throughout California and Georgia; AJW Productions is the alleged alter ego and money collection entity of the individual defendant described in the complaint as the "chairman" of the pyramid scheme; and Contact Information. Call us at (920) 898-4232. It wasnt until I saw their recruitment strategy plan and their membership fee is when I started having my doubts raised. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. Oops! Has this product worked with anyone? Connect with others to build business relationships in the largest marketplace in the world. HOME; JOIN PFA; P-TRAC LOG IN; PRIVACY POLICY; TERMS OF USE . 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. 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. 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. Is Premier Financial Alliance a pyramid scheme? ChromeFirefoxEdge. Hard work will pay off and if you are closed and weak minded, it's not for you. I would suggest to you vadude1, to give this a try. In addition to covering that, today were also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. 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. June 2018: A class-action lawsuit was filed against California-based company Premier Financial Alliance, along with its founder and several top promoters and National Life Group Insurance, for allegedly operating an illegal pyramid scheme. Company size Large enterprise (150 or more) I joined Vasiliy as a writer for Best Lifetime Income blog. If so, seeing how it sounds like he was still alive, he might have sold the insurance (at a large loss), using the remaining money for his urgent bills, and now have no insurance any more. Personal Information. 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). This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. If you have fallen for a scam, you can post your experience here to warn others. 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. The decision to deny reconsideration was based on PFAs. Their . Founded Date 2003. Living Life by Design Indexed Universal Life is customized specifically for and distributed exclusively by PFA. I've seen with my own eyes, this company change lives from consumers to their employees. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. You don't know what you are talking about. Sounds like that exactly whats going on. Talk to the one who invited you. 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. Premier Financial Alliance. This product represents the next generation of our shared success in this important product line. 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. June 25, 2018. 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. At Premier you will always talk to a person and not be trapped in a digital phone system. This organization is a scam. 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. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. 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). Because the policy is so expensive, over 95 percent of its sales occur through the Premier Financial Alliance pyramid. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. Donald Trump and Robert Kiyosaki recommend it? 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). ", "Before, Iwas making money. 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. If you want to join be come a agent go head..!! Find locations. Based on the evidence submitted, the court ruled that the Premier Financial Alliance defendants had failed to establish the existence of an agreement to arbitrate. Serve your client, Serve your team, and required always put other people first before. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Both claim to have been deceived into believing PFA was a legitimate way to make money. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. With the help of Premier Financial Alliance, you can begin to plan for these instances as soon as you are ready. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. Here are the top work-from-home tips from our staff. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. "I love PFA because we create positive change in peoples lives. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. Internet Explorer 11 is outdated. 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. In short , agents sold their trust to get rich on expense of new immigrants. Online, offline, email, or postal. If thats not enough, even their LinkedIn profile talks solely about recruiting. theYear = now.getYear(); I was recently invited to a company presentation my friend was telling me about that he's a part of. 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. I hope you enjoyed my Premier Financial Alliance review. To actually learn it, knowledge it, not just be told by other people. Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. He began his career in the financial services at a time when he was . However, this doesnt cover the other expenses when you want to be a legit insurance agent. There are fees that you need to settle to become a licensed one and more or less, you need to pay $100 to $200 for this. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. For 2 of the years, I was trying to research and see what they are all about. We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. p.s. Is the WFG (World Financial Group) a scam? So a little backstory, I remember seeing this kind of play before as I saw this when my ex-girlfriend tried to recruit me into Herbalife years ago and my cousin into WFG about 7 years ago. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. From our products and services to all the good we do in our communities. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events.2. The PFA lawsuit is still playing out. Post your questions here and have them answered by people who are knowledgeable about all types of scams. Read More. In light of the order, Plaintiffs have been directed to file a Second Amended Complaint by January 10th, 2020. 112 were here. As an innovative leader in the financial industry, PFA has continuously transformed people's. 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. The price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. I would NEVER recommend that anybody join an MLM. How Much To Join Premier Financial Alliance? So I went to one of their interest meetings and was really interested by the product and the company so I joined with a fee of $125, I just wanted to know if anyone else had heard of them. Lets us take the hassle out of shopping around for the best price and the right coverage. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. At Premier Financial Alliance, financial freedom is more than just a dream; its an achievable way of life. Because at first it seemed "too good to be true." 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