We protect the dreams of Middle America through a proprietary financial product that is disrupting the life insurance industry. I actually have heard of this company for 3 years now. PFAs argument that the company and its employees are based out of Georgia was also rejected. PFA may have privately organized under the Laws of Georgia as a different As long as you are willing to learn about it, I dont see any problem at all. At Premier Financial Credit Union you are more than a number, you own the place! Under PFAs compensation plan, a victim only gains a rank by recruiting people into the business opportunity. Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? Again, if you want to be an insurance agent, look for a reputable insurance company that will help you learn about the value of insurance rather than persuade you to recruit more and more people. ? The founders LinkedIn account is barely updated. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. Someone reached out to me on Instagram recently. Company size Large enterprise (150 or more) This product represents the next generation of our shared success in this important product line. In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. Life insurance you don't have to die to use - it just makes sense. Valley Strong Credit Union operates as a financial cooperative. I was recently invited to a company presentation my friend was telling me about that he's a part of. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. According to the FTC, if the source of your income heavily relies on the number of your recruits and not on the sales you get for selling their products, its a telltale of a pyramid scheme. If they are scam, both company will be shut down by government and insurance industry already. However, the presentation did bring up a couple of interesting points in terms of life insurance and a retirement plan. If yes, then you should join our top-recommended program. After the presentation was over, I met up with my friend and asked me if I liked the product and if I was interested in joining him. But hey, everyone has to start sometime right? Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. now = new Date; ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. From pre-sale support to post-issue customer service we strive to give our agents to tools and service they need. While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. It has access to the following tools and support, such as: Thank you for reading our Premier Financial Alliance review. Multi Location Business. Its not just in case you die - it's to live a life you love. If you think someone is trying to scam you, this is the place to ask about it. Come join us in our quest to bring financial prosperity back to each . Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. If you have questions or comments, please feel free to share them below. 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? To make money in PFA and WFG, it requires hard work and servant mentality. This naturally raised the question of what Premier Financial Alliances core priority was. Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Will it really provide a good source of income? If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Read More. Online, offline, email, or postal. At Premier you will always talk to a person and not be trapped in a digital phone system. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Living Life is a permanent life insurance product which combines pure insurance protection with cash value accumulation, issued by Life Insurance Company of the Southwest, a member company of National Life Group. Haley Piper. Wang and Zong, both New Jersey residents, claim Premier Financial Alliance is a pyramid scheme they were lured into. We are a Insurance Broker representing over 50 carriers. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. 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). Also if you follow their system, you actually get reimbursed what you pay for, which is crazy to me but I appreciate it. Now I lost $125. Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. Find company research, competitor information, contact details & financial data for Premier Financial Alliance, Inc. of Suwanee, GA. Get the latest business insights from Dun & Bradstreet. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. Business Profile for Premier Financial Alliance. I noticed people sign up and don't do anything about it. People from all walks of life, from all around the world, have experienced tremendous success and results from the solutions that Premier Financial Alliance provides. January 12, 2022. While there really is money in becoming an insurance agent, and by that I mean massive commissions, the legit IC Ive seen compensates their members for selling their products. 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. The company give 30% commision because the money not from them but come from the clients money. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. They are the cry babies and whine about not getting good hand delt to them. Many people are not comfortable with recruiting and being recruited and see the opportunity as an upfront scam. We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. $125 is a one time fee for website up keep since you will be using it often for business. A hearing to decide the arbitration matter was scheduled for July 19th. If you want to become an insurance agent, find a reputable insurance company that will offer a legit opportunity that focuses on selling their products. C2820332, that currently does business at 8000 Marina Blvd., Ste. If you think someone is trying to scam you, this is the place to ask about it. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. 132 were here. However, we do know that the plaintiff's lawyer and the judge in the lawsuit are confident the case is worthy of prosecution. Premier Financial Alliance may be a pyramid scheme. Career. PFA and WFG are both legitimate company, not a scam. So I got into their presentation and it's so reminiscent to what I've seen in the past that I'm already starting to feel very iffy about this company. 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. Financial Calculators. 100, Brisbane, CA 94005. She used that money to pay for her treatments. 1300 Peachtree Industrial Blvd Ste 4210, Suwanee. Your submission has been received! On November 28th defendants A JW Production, LLC, Bill Hong, The Consortium Group, LLC, Jack Wu, Rex Wu, and Lan Zhang, filed their own motion requesting the same. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. Is Premier Financial Alliance a pyramid scheme? The culture, organization, and leadership are great. 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. http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. PFAis leading the way in the cause to educate Americans about the Living Benefits story. Once they pay the $125 membership fee and buy the . Explain to you the system. I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. I.e. Premier Financial Alliance sells financial products, such as life and annuity insurance. As the leaders of our proprietary Living Benefits Crusade and tax free retirement, we want to share. in Life Insurance, Auto Insurance, Home & Rental . 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. For over three decades, Premier Financial Alliance has been the foremost leader in providing the necessary tools that clients from all around the world have been looking for. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. Did you borrow what you put in? By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. All it says is that they are selling your dream but if I know, this is a way to attract people. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. Some are legit with good opportunity while some are a downright scam. That's not really a success story. I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. Community. Address Line 2 (Optional) Your submission has been received! 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, Premier Financial Alliance fraud cases consolidated, Premier Financial Alliance classic pyramid scheme lawsuit filed, David CarrollJack WuRex WuLan ZhangBill HongAJW, PFAJack WuPFARex WuLan ZhangBill Hong, Rui ChenWenjian GonzalesPFA20172018PFA, , PFA, , 25015, , PFAPFA, 528125PFA305, PFA55%, 305PFA55%, PINNACLE ACADEMY After School Learning Center, Susan Goodkin Selective College Consulting, Mingfei (Kurt) Ha | REALTOR Licensed in MD, VA, DC, Zhen Wang | Real Estate Investment Advisor. Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. Online, offline, email, or postal. Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. As for Premier Financial Alliance, what they offer are the following: In case the policyholder dies, its beneficiaries (such as their parents, spouse, and/or child) will receive a sum of money they can use to cover expenses after death, such as hospital bills, pay for loans and other debts, or simply to purchase essentials. Premier Financial Alliance, Inc. 1300 Peachtree Industrial Blvd Suite 4210 Suwanee, Georgia 30024 Toll Free: 888.867.6533 Direct: 770.271.0443 Fax: 678.482.1975 [email protected] Close. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Premier Financial Alliance. Oops! They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. Is Premier Financial Alliance a Pyramid Scheme? Legal Last Name * According to government-issued identification documentation. 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. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. 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. , this is a pyramid scheme they were lured into recruiting people into the business opportunity and. 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