pfs investments pyramid scheme

For instance, he said Whats your favorite restaurant? So today I had a random phone call and I answered it only to find out it was a woman by the name of Jerica who said that Martha that I had met at my job referred me. Turns out, surprise, she does the math and she is the same age as my mother and her daughter the same age as me. and is refundable but most people dont know that, You can get your own credit check and if not hired, you can get a refund. 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). Well, at approx 11:00 he got a phone call that he had to take. It was the first time I smelled something fishy. NO legitimate for hire position will require the applicant to pay for the privilege to work for the company. They said they would need my bank information. It all seemed so legit at first and since this was my first interview and Ive been looking for an internship, it seemed perfect. LOL, Lol thanks God I look it up and they give you such an hope like youre about to win big smh I waist my time dressed all nice thanks God I didnt register yet Im done with them. He was strange, deceptive and refused to answer why he supposedly left this well-known company which had me a bit concerned. Just went through class. Well John went into his little script of how he found my resume off of Careerbuilder and thought I had what it took to help the business. 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. Very glad I googled this company and found this blog. Kool-aid anyone? Why the need for secrecy? Our entire crusade is to teach people how money works we want to educate the clients so they dont get fooled by people like Citi we broke away from Citi when they were doing the wrong thing Primerica works from the highest ethical standards. I drove out to the location, got there 15 minutes early, so I sat in my car. Some of the stories and comments above have been really sad. We set up the interview within a week and Ive never had someone more eager and desperate to hire me. There are 125,000+ representatives so its safe to assume there are some bad apples. I already worked full time for a corporate company but just needed some side income. To start making money and sign up as a Transamerica distributor you will need to pay a processing fee of $100 and to start recruiting new members you will need to pay another $300. The individual is a Regional Vice President and he did talk about passive income, which alerted me. Wow. Why would you not want to help your friends, family, and referrals with this information? Financial Advisor (Former Employee) - Fort Worth, TX - November 23, 2022 MLM jobs are not jobs at all. I sent him a follow up email to try to nail down a time again. Thats an MLM just you stay broke. He invited me to this thing some orientation and was like being your parents Im sure they could learn something and Im like did this man just insult my parents intelligence. People are recruited into multiple levels in the pyramid. It takes hard, Hi, I do not agree with you. To all those who think youll make money from this, it is mathematically and logically IMPOSSIBLE for EVERYONE to make money in a business like this. Thank you so much for sharing the information! 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. My typing speed is about 60 wpm. Primericas site is for the people they con into buying insurance. He works for the State of Florida. Absolutely disgraceful that there are companies like this out there. same here. They went through my Finances and sorted them all out and gave me a plan to pay everything off in a pretty cool schedule/plan. 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. Wow, thank you to all who posted about this company. Would people join if you were 100% truthful to them? Tameka Bell, How did they make you feel captive? Law sued and primeica paid millions of $ to keep it dl . I can promise you that he wakes up every morning wishing that he could go to work like normal people and not have to deliver that line of BS at the PFS opportunity meeting tonight. In Primerica, the game is recruiting into infinity. I told him I work 3rd shift and that I can try. thanks for the honest comments I well be cancelling my interview tomorrow. Plus who knew if they actually still earned that? I agreed to meet with her the next day at 6 pm (again another red flag). And if your not going to show up to an appointment just say so, dont be a child and say ill be there and not show. now she has been pursuing me saying she has another office and she needs someone to run it . Primerica asks their reps for quite a bit. I thought I would be the one filling out my own application. I was shocked. She gave me this speech about how she is the General Manager and that she was opening various locations and needed people. BBB reports on known marketplace practices. No one ever said it was going to be easy, and if you thought it was, then i dont know what to tell you. Any conclusions drawn by myself are opinions. I got the call from a woman saying she got my rsum from monster. Im on vacation. She assured me, as the regional vice president of the Dayton area, she is looking to agressively expand her reach and will be opening up 5 new offices in the next 2 years, so she needs all the help she can get. He kept asking me weird questions and giving even weirder examples. During that same time period, 243,167 of their licensed reps also left the opportunity. Then again two days later. I offered to quickly mail her one, as I had not brought one myself (I already had bad vibes, so I didnt even bother bringing a hard copy). No, regular companies that are set up with levels of management (such as Walmart) are NOT pyramid schemes. My father passed away in May. She also had sold Avon at one time too. I went to the first interview today. After, of course, buying into the company and getting my license, etc. Long story short, I sensed and saw scammers written all over their faces. Cancelled the appt. What I am saying is that (a) the MLM structure is a legal scam that hurts the distributors/representatives, and (b) Primericas products generally cost more than other similar (or better) products sold through non-MLM companies. I made a decent living $30,000, but its much harder than most people even imagine and it truly does require that you do oodles of prospecting. That is a big reason why this company has so much negative publicity online (even on its Wikipedia page!). I mean, my pitch would have been an honest one. Summary: Primerica is a legit company with a long track record. As someone whos in commission sales- I feel bad for people who fall into companies like this one. As soon as I answered I heard someone making silly sounds and I wondered if it was someone I knew but no it was the gentleman who said he was calling me because my friend had recommended me for the job before I was a hard worker and he wanted to know if its true..we began talking for a while. Joke of a company, I hope it goes under. They used what I told them about myself to further what they wanted from me. 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. At this point, I had a chance to become aware of the atmosphere in this building. Does anyone know of other companies besides Primerica that are employing these same tactics? Simple as that. The subject turns to travel. Primerica offers web-based learning materials and a practice exam. A pyramid scheme is an investment fraud in which new participants' fees are typically used to pay money to existing participants for recruiting new members. The whole conversation was geared towards selling me on deceptively common-sense information about what I assume to be much more complex financial decisions I have a friend who works for an insurance company, and given how much time hes spent studying for his degrees the claim that, in a few months and for $99, I could sell my friends and family (and then random strangers after that) on insurance was certainly too good to be true. Well he cleared my somewhat strict prerequisites and I accepted his request. Hope this helps and good luck to those who have gone forth with this and now have regrets and for those who saw the light before it was too late . A customer commented to me that he was impressed by my way with patrons to our store. Thank god for the internet and all useful information we find on it. I was approached by a lady who came shopping in the store I work @ now. Whatever I did, however I asked, he would not tell me what positions he was trying to fill and that was a big red flag for me. Ha!!!! People have no consideration!!! Why keep this guy waiting, wasnt that terribly unprofessional and disrespectful? It would be nice if the government would step in and help protect the people who dont have the sense to see these for what they are. Just got off the phone with a recruiter from Primarica, and he made it sound like he sought me out for this position. I got a call from somebody in Primerica named Curtis. Said I might be a good fit for PFS ambitious expansion plans in the Charlotte area. If you want to get ahead in life be an entrepreneur. You are not your own boss if you have to hand over your personal contacts to your Primerica rep and get no pay for having to attend their training and info sessions. I will be posting this to all of my social media, explaining what a scam this company really is. Great article, thanks for the extensive information. Again, we talk a long time. Sep 27, 2021 7 min Read . What a waste of one hour, these scammers will not be at my house nor will I have contact with them again. Primerica is NOT an MLM, it is, however, a Financial Service company that allows people to run their own business. Another woman, in her mid to late 20s like me, walked in and was handed the same paperwork I had to fill out. Wow, I have an interview set for this Tuesday, needless to say I will not be going to it! If you are looking to contact Primerica directly, call them at (800) 257-4725. Red flag I had been waiting for. I search my memory and finally remember who she is. The SEC found that PFS Investments Inc. had failed to have in place effective policies and procedures to follow up adequately on three complaints received about the Dearborn registered representatives, "selling away" activities. He also said that he can talk to me me and my wife at the same time to explain the money for the financial license. He said Id love to have you come and work for me etc. I was not at all interested in becoming a sales person. Not lying to them about what happened either. I went 3 days ago and I had to give my info including social security number, but they didnt asked for a credit card. Financial Educator (Current Employee) - United States - March 12, 2019. . I got a call after meeting with someone from the workforce. Ive read just about every comment and I am not going after all. Other insurance companies do the same thing but Primerica is ruthless. Red flags went up immediately obviously he was looking for someone for sales (ugh), and though he wanted to meet immediately he also invited me to a presentation he was giving that evening so I could get a better understanding of what he was about. I was unable to find much of anything online until I got the address for the interview. It feels horrible all the time to be with them I am sure. Where you could start off making $2,000 a month easy with only 4 clients. You have to have an insurance license to work. I just got a call from them today 3:19pm 6/14/16 for a job interviewim ill and cant work right now and its sad to see this is still going on in 2016but im happy for this site to help spread the newsthe caller left a message i did not answer i looked them up and ended up here.thank you all for your helpful info! But, the girl I were with got in the rm first then about 6 mint or so the guy came back & say give me 5 mints for you to be in the rm. Id really like to figure out if it is the company that is the problem, or just some of the people in it. I have an acquaintance from Facebook who floods my news feed daily with this Primerica crap. Heres this site. peace out dawgs. Its performed nicely and Ive never had any problem with the company from my standpoint as a customer. I didnt follow those steps due to a time constraint but thanks to your comments I know I will be making better use of my time! In the end i never scheduled a follow up. They have my info and address and all kinds of info will they use it against me if I dont work for them? He kept messaging me even if i wouldnt give him a reply and somehow found my number and keeps contacting me. I knew it had to be a network marketing scam so I came home, looked up her number on Google and thankfully found several sites on Primericas shady recruiting tactics. I felt awesome, like he had seen the potential in ME to want to spend time teaching me. Its not a business. A pyramid scheme does not refer to the layers of management that you see. ), I think these Primerica idiots need to get trolled HARD. And you say Im too lazy to work for myself? Nothing! After reading all of comments, I will not be going. I got suspicious after I asked her the company name and her voice sounded muffled everytime she said it. Told me to bring my social insurance number with me, because if I pass the info session they would like to start to work with me right away They asked my husband and I for $99 each to set up (pay to be hired) and wanted $156.32 cash to start our life insurance said our kids would automatically get $135,000 if we even die today, This bleepity bleep bleep!! promote propaganda and sob stories of people getting shafted out of their whole life or group life insurance as a scare tactic. If it sounds too good to be true, it probably is. very dumb. And no, few people over 50 or 60 would renew a term policy as the rates skyrocket exponentially ($500-$800/month). He then tried to get my bank account info right after and I just barely made it out of that. The rep is a West Point grad, and seems like a good guy. 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. Oh well I showed you the PowerPoint and video?? Therefore, before joining Primerica, you might pose and ask yourself if it is a pyramid scheme. I can see where some think the avenue of recruiting equates to MLM but Id argue thats simply due to lack of knowledge. I told them I didnt had the money so the lady told me Icould go some other day and its been two days already and Im scare they use my social security # for a bad purposei want to go and get the paper and ripped off so i could feel safe but idk what to do Can anyone tell me what should I do. I just advise that people dont get that education from Primerica or any other MLM. They are not now and I feel a offended that they would think I was interested in an MLM style business which I didnt find out until later. This is the same for any insurance or investment company. Also, Tracey thank you for your continued service on informing the public about MLM businesses. Me too! THe credit check should be about $30. This is a scheme. Isnt it a blatant cheating? My husband works for a window company, door to door, ran into a guy who says he has career opportunities available now this guy calls everyday for a week saying he wanted to set me up a job as well I seemed educated and professional so and so.. After weeks of talking over the phone we set up an appointment. They give the job seekers very little information about the job (its not a job at all rather it is a position in the MLM pyramid), con them into showing up for an interview, and telling them if they have the right skills, they may be invited to stay for an information session. Question Whole life insurance is not fraudulent. Surely a man that professional-looking would be deterred by someone as inexperienced as me in the room, I rationalized to myself. Very sad to hear all the ridiculous posts, and misleading info that is pushing people away from the company. Just needed to set up a time. I work with a woman who is always trying to recruit people by taking them almost 2 hours away to hear the presentation. I got up to follow the man into Johns office but he closed the door. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. 6. last and least. I was approached by a Primerica representative at a job fair on a military post on Nov 28. Can anyone who is successful in a traditional business start a business for that little of an investment? The caller introduced himself as the vice-president of a Hudson based company and told me that he had found my resume online and that he is looking to expand his company and is interested in adding some people to his team. * Also, if someone wasnt college material, and all they were qualified for is a $10-15/hr job, but they really loved their family and wanted to do more to provide for them, to where, other than another MLM type jobs, could they go? Will do anything to hire people. Be careful and good luck to all other job seekers out there! The other woman never shows up. They have to recruit their own people. ALL THEY WANT IS YOUR MONEY . Need to find a different location? As they were talking I was looking up scam reviews and saw 160 on another website. Its the 23rd already, isnt it? I do believe my guy calls with an unknown number. good looking into this before going to my interview today. Pretty amazing comments from everyone here. Then I looked up Primerica and this lovely blog popped up. Kudos, Anthony Pinto, your attitude will make you very successful! Money / Side Gigs. I said to him I got a call for an internship two weeks ago but they never got back to me, so I was actually happy to have received that call from him. Once reading all these reviews I called back my recruiter and asked for more details about the interview and he was vague. I walked in and saw chairs set up like there was going to be a lecture. Well, all insurance agencies and brokerages have the pyramid payment style. All-in-all, aside from the financial advice that I found sound and pretty basic, it was a complete waste of time. If your goal is sales, join a traditional company. I though I was going on a great interview in my early twenties when I strolled into Prime America! So once I read that it was an Insurance Company I immediately knew it wasnt for me. I was VERY unhappy in my job and I had been actively looking. Wheres the money? those guys are motherfu***** i went to the interview and i interviewed with a guy but he was so suspicious though, when he asked me for a 99$ but it should be on a bank account not cash( so they can steal my infos) but when i told him i dont have any money on me now he seemed Confounded and annoyed and there was three girls sitting on the other table they kinda laughed when i said i dont have the money, and so he immediately ended the convo and said i can come back tomorrow and give him the money and i said okay great cuz i actually believed him he was so convenience but and thank god i didnt have money on me cuz if i had i would give all my infos but thank god i didnt give him anything and so he ended the convo right away cuz in my opinion he knew that i would go back home and look up the company name and i will find this post and so i will never come back and give him anything and thats exactly what happened and thank god ive read this post this author is genius thank you so much screw those guys. I thought why in the hell would a RVP of a business contact me, someone with no experience or info out there advocating I have any in such a business and/or roles, and on Facebook!? Anyone with money who makes a good living does not discuss that in open form with people at a so called job interview be smarter than the rest of us , cancel , complain and dont let them take advantage of you. 1.) The guy on the phone was super nice and seemed waaaaay too eager for me to come in, especially since I told him up front that I had no financing background. 30+ years. Please dont contact me again. Ta da. 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. Do your research people dont fall for pyramid scams. He told me Primerica can be compare to charles schwartz, and a list of fortune 500 financial companies.Anyway, thanks for saving a hour drive to the interview.

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