pfs investments pyramid scheme

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Sounded too good to be true about the money and needless to say thank-you to everyone here I will not be going. Its quite pathetic that all of us in the comments are forced to search out information on the web rather than hear it straight from the snakes that work for this company. After reading a lot of these comments I understand why many people feel Primerica is a scam. I experienced nothing like the others that you have told us about. Went well. I can feel itll just be a waist of my time and I would rather work for a company with a good reputation. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. I am left feeling overly annoyed. She gets so defensive when anyone questions her work. The recruits have to pay $100 for a credit check and training. The main product Primerica offers is Term Life Insurance. Dont listen to the nonsense check out Primerica yourself! Even if this is a legit company, the financing industry was never my thing. Throughout the presentation I grew more and more skeptical. I have an interview with them tomorrow. Tracy says this is about recruitment and getting people to pay the initial and monthly fees. LOL Stacy. First of all, the company does have physical product within its structure - insurance and financial services around debt-solutions, investments, legal protection, etc. I understand multi-level marketing all too well. BBB asks third parties who publish complaints, reviews and/or responses on this website to affirm that the information provided is accurate. Fact remains if you had joined the Primerica team and never reached any level of success you were probably not even trying and waiting for something to be given to you. Im canceling my interview for tomorrow. The recruiter may actually be vague in most cases when trying to get people to come check out the company but that doesnt mean they the information you will get about saving for retirement, etc is false or lies. Ive written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam. A person with certain negatives in their background cannot work in the industry. When I told her I was not looking to invest in a life insurance plan and proceeded to attempt ending the call, she said but you have a daughter. I assumed that would have ended the conversation. And a sidenote when I exchanged info with the wife in target her android phone had an app on it where my full name showed up on her phone. Plus his wife worked full-time here too. He asked us over 50 questions, where do you want to move? If you want to sell insurance or investments, do it with a real company, not a scammy MLM. Its not what you are told that is important, but rather what they arent telling you that really matters. You want a cashier to manage your office? Before I knew it was Primerica, I thought I was going to be interviewing for Coldwell Bankers, who have a good and legitimate real estate reputation. Look this up on Wikipedia, the very unusual and very unique model that Primerica uses. I received a phone call yesterday and on my mobile phone, which despite the fact that I am looking for a job, I only mention in cover letters or to recruiters who approach me on my landline. The next person presents the sales pitch on Primericas services. When they first came I noticed his wife was wearing a dte coat, I asked jokingly what company is this opportunity with, Primerica or Dte? I Started a policy with Primerica in 2018, against my better judgement. My ignorance had me traveling well over 30 miles one way. I could barely understand the guy. To all you haters and doubters Primerica is NOT a business for sheeple it is a bonafide business opportunity that requires hard work many people cant do it thats why the rewards are so great if you persist! Very happy with Merryl Lynch, thanks. I find it odd that a company that hypes fancy cars, unlimited incomes, and financial independence has a sales force where 99% earned less (and way less) than $50k during any single BEST 12 months, BEFORE EXPENSES. I just hope it was a legit employee just trying to recruit more people. When I looked at the girls job title, I googled it and found this site. I received a call today from a lady at Primerica, stating that someone referred me, & she would like for me to come in for an interview on Fridaybut when I asked who the person was that referred me, she couldnt give me a name. And, how come there stock is listed on the NYSE? We hardly talked about me and my background. Income is limited and since they, were at a point in time, only selling term life, there whole pitch was buy term invest the rest, which is great considering their term to is age 99. All the money being made in the quick amount of time. I am so glad to have websites like these were people can learn a little more about what they may be getting themselves into. He gave me the address and I had the phone number now. I was not familiar with them, so I went in for the so-called interview. There are also barriers of entry ex: background check and licensing. 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. This business is in a unmarked building near a woods, although that was scary enough I reasearched and found this. If your comfortable with just getting by (paycheck to paycheck) then by all means continue with what you are currently doing. In light of this information, I will be canceling. (Thanks to all post-ers). I am a young college student interested in Investment Banking and was told by an ex-financial advisor at a prestigious firm who attempted to act as my mentor to join. but after reading this I wont be going. It appears that some above posters (mostly young) do not realize this? not something good to be involved in. As for the Author she seems to have ulterior motives and a chip on her shoulder regarding the company. So I just got out of a presentation not an interview. Yes, the company offers legitimate products. Just WRONG Disgusted!!! I am so ashame to be same species as John adison and glen williams . I love my job. Apparently she works at the bar we are sitting in, but is not in that day. I advised that I am looking for roles in the IT field, preferably as a deskside technician. B . No one says where these happened tiothem, and i would like to know where they live, and how many people in that area experienced the problems written about here. Time and again, we see these lies and unethical tactics used to lure people into Primerica. My old coworker had me sit through a lecture for her (I thought I was just helping her) then he asked if I was interested. PYRAMID SCHEME. The money received from the new recruits is used to pay off the . well I looked up pfs investments I didn`t see the address she had given me .then I looked up names I didn`t see her name under agents or anything . However the comments of one man on here did not sit right with me. When you feel the need to bully someone like that, there is something lacking in you. THATs owning your own business not this MLM stuff. Basically, i refer 3 people and make $700. I googled ahead of time, but only really to find the place, which, like everyone elses experience around here, was on the outskirts of town in a rented building. Will not be going to a sales pitch to get me to go do sales pitches to other saps. Law sued and primeica paid millions of $ to keep it dl . Yes so would you call NYSE a scam? He also deceived the new Primerica representative, telling her that he was helping her and teaching her how to recruit people into her downline, only to keep some of the recruits for himself. Well im not going to my interview today. Anger gave way to fear.. what if I interviewed him and messed it up and he stormed out of here angry and calling it a scam? My typing speed is about 60 wpm. Here we go another scam, let me play along The gentleman got on the phone, I think his name was John, again muffled but I really didnt care what his name was, this wasnt going to last very long. Im grateful for this site and the posts here. Their company relies on always havinga bottom layer of sales people, they move up by getting lower level people constantly to do all the work. Just a bit of background I work as a sales floor employee at Lowes so I was pretty skeptical to begin with. I was very interested in that. Operated a pyramid scheme: The company also encourages consumers to become Financial Education Services "agents" themselves, selling the company's services to other consumers. Oh well I showed you the PowerPoint and video?? But I really like you. I express admiration and order another coke and a sandwich. I tried asking where they got my information from but they said they didnt have that information with them I have an interview tomorrow Not sure what to do HELP! Ringing that bell does not make Primerica a legitimate nor a trustworthy business. The scheme is called a "pyramid" because at each level, the number of investors increases. Multiple levels = MLM. I just went on a interview yesterday June 22nd Come to find out the husband was the one who was really pushing me to join the business after I had TOLD them I wasnt interested in anything besides getting my finances together and I would contact them if I wanted to buy insurance or whatever. Most of the posters defending also seem very unprofessional and lack a certain level of education. Primerica is an insurance company. Only one company filed a lawsuit in a failed attempt to prevent these upgrades. 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. I questioned it but thought oh well go for it. I asked him if I should bring any specific documents with me and he abruptly said no and that he simply wants me to come in and talk with him first, also adding there would be some forms one of which would include qualifications I have and work history. I mustve been approached bc I look like a mark. The sheet of paper wanted my address and a list of 5 local contacts, preferably not family. ?, Dont you want enough money to rent a space for your classes? But one thing a lot of people never did was actually get any information from the company about what they actually do and how they actually help people with their finances so people can actually pay off their debt faster than they are projected to, and actually reach their retirement goals. I told her the store and began to walk away until she stopped to ask me if I was currently employed. They were in my home for almost 3 hours, 10 minutes before they left (which was an hour ago btw!!) I never identified the gender of my child (which is a boy, by the way). I quit altogether after 2 months because it was the most draining months of my life. Its all recruit, recruit, recruit and eventually a profit will be turned when enough people are in the downline. Like, if someone asked a question that would be fairly customary in the real world, he really would let off on them with something snippy like well, I dont know what youre worth yet. I was definitely lied to when I first was contacted by the woman. Hey Alex, this isnt the first time and wont be the last time a crooked company has rung the NYSE closing bell. I then took a step back and thought, dissected the business model for my own benefit and thought what I would have to do to be successful at it (I over analyze everything from both sides). Jeb- If you read most of these comments then you should already know that half of them was approached at their job like myself. P.S.Also, as to objections from some of the above posters concerning licensure fees charged by Primerica, any financial services company must ensure that its agents are licensed, just like real estate agents (or engineers or accountants) must be licensed. Woooowww approached at Wal-Mart totally seemed fishey he took my number no name or business card not looking forward to this call at all how rude to take advantage of people and trick them into better job opportunities Im surprised his pick up line was to Google this company ha cause this is what I found!!! Sobeys. No! It was no way a job interview. Comprehensive training, licensing and certification program. I was thinking it was odd that I still didnt know the name of the company. I tell her I would like to do more of it. What I found was that most people dont want help with their finances and many (foolishly) refuse to spend money to own life insurance. Allow me to tell you about it. I told him I work 3rd shift and that I can try. I remembered now, although I didnt pay attention then, how defensive he had gotten as he told me he was too wise to throw away money on a car. I walked into the office and was greeted by a receptionist in her mid 40s. Pretty much what i expected, sort of. My guess, these snakes hack FB profiles and are now on the prowl for new gullible recruits, or this guy probably got hooked into the company and is now using his account to get recruits. Eventually he told me that he was not offering me a job, so I was even more puzzled. Yes, but for other areas, not recruiting. If you have been invited to an interview, I can tell you that someone cared about you. When I read posts in defense of Primerica they seem like they all read from a script stating the same propaganda (Jonestown immediately comes to mind). I asked for a camp name twice she mumbled PCC really fast so i couldnt catch it. The man on the phone was not the man at the meeting. Primerica has the BEST products for the least amount of money in the industry! But upon going there I saw a completely different picture. I have a job, but looking for a change, I feel bad for people who are out of work and are honestly looking for a job! I told them that Id have to think things over, though it took a couple of times for me to say that so that they understood. More importantly, I never found out why the middle-schoolers were there! OUCH! Ill be moving in a few weeks anyway and as I mentioned, I already have work. Im not looking for part time work. She also told me she was just leaving church lol. She also asked me if it was true that I had management experience, which I thought was a strange question because if she had actually reviewed my resume, she would find that I indeed have about 7 years of management experience in both sales and customer service. But like I said, we are all set with our banking. He never mentioned the name of his company, only that he was impressed and wanted to figure out if I was a good fit the sort of leading language Ive seen others report thats meant to make you feel desired and special. Thanks for the info. The people who give up on this business dont understand the potential of having your own business and life. Multi-level marketing is not entrepreneurship. He said they are looking for people to sell financial products and to recruit and train new employees. Having professional licenses paid for by a company and given the tools and resources to build a book of business on a part or full time basis is a wonderful opportunity for the right people. Im on vacation. 2.Investigations of Allegations of Wrongdoing The compliance structure at PFS included two primary procedures that could detect wrongdoing on the part of registered representatives. I follow their stock using an app called Searching Alpha, which is an app that has people doing analysis of various stocks. They had the chairs so close together, Im sitting next to strangers and our knees and arms are touching, so Im uncomfortable next to some guy. I filled out the basic information and then realized they asked for social security and began to question him. A pyramid scheme begins with one person or a small team recruiting participants to join a new business venture. And where, exactly, are you going to file that complaint? . I can see her answering it even in the middle of the night to talk me out of cancelling. When I sat down with the guy, it felt less like an interview and more like a sales pitch like you guys said. Should I in fact back out? Today the husband called and said his wife said I had people skills and was very vague and I had to really ask what was the company after the asked me to come in for an interview. Primerica is a financial services company that states it's mission is to help underserved communities gain access to top level investment and insurance products.. It is a one time commission, for the duration of that 10-20-30 year policy. tell me what you need and we will basically be pen pals. On a non related note, why are the people supporting primerica, speaking like assholes and calling everyone stupid and lazy for speaking their minds. (im able to buy back my active years for mil tec job, so when im 47 i will have 2 pensions. I was told by a friend that if we met I would be informed about a great opportunity working from home. I am now on the A-TEAM, she says, a daring-do group of financial managers that will change the world. You wouldn't want to associate yourself with them, especially when fully aware. I received a call from Primerica just a few hours ago. They prey on the uninformed, they want your warm market, and your warm markets warm market. I barely spoke and Im on the good side of the manager. 99 for the background check, 25 for the POL, and 50 for the deposit on life insurance. He keeps insisting to do it that day but I firmly said i will think about it. Lesson learned. Ever since I graduated my undergrad Ive gotten random phone calls from shady looking companies that I never applied to. Financial Advisor (Former Employee) - Fort Worth, TX - November 23, 2022 All of this is broken into ordinary conversation somehow. Do I just block them and never contact them again? Take their advise and apply it on your own people. So upset. Thank you! A recruiter found me on Linked in and said he was impressed with my resume and feels I am qualified for a position again like everyone else I asked for more information and very vague did he explain to me the concept of this company. THe credit check should be about $30. It would be too painful to add up all the hours, dollars, and gas I had so far invested into this business. I also knew what John would say if I asked him about that one. Anyone quoting pink truth (aka themselves) like this attempted sub-feeder blog and the gm one, I agree! She submitted her story to Pink Truth, a website I run about Mary Kay Cosmetics and other multi-level marketing companies. Thank you so much everyone for sharing your experiences. I talked to the women who contacted me through LinkedIn and her husband when I first got there. Sitting there listening, my mind went back to the phone call that him and I had, when my interview was booked. Im here to see how this turn out(Micheal Jackson Thriller Popcorn Meme). When I stated that this was just short of a pyramid scheme and that my last interview with the company (5 years ago) resulted in someone wanting me to buy over $100 worth of licenses, they had nothing to say. MLM is not a business: He told us the incredibly vague story of how he managed to get one individual from $20,000 in credit card debt down to zero and then into a mutual fund with a 9% interest rate. I thanked the VP for the opportunity and ended the call. He kept asking me weird questions and giving even weirder examples. What a waste of one hour, these scammers will not be at my house nor will I have contact with them again. And by the way in MLM you dont own a business. You have a contract under which youre permitted to shill for the MLM. What should I do? I wasted a month of my busy life and thankfully, I already maintain a good internship at a wealth management firm and did not leave it for such stupidity. Only regret filled out the intake paperwork, but kept a copy intentionally messed up. More about my terrific personality, she was very specific that I had to dress professionally, no jeans or sneakers, and was firm while speaking to set up the informal discussion. I was also applying for jobs but for some reason I had chose not to go with this company. They were put off because when they ask if anyone had any questions, I raised my arms and stated above.

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