you need your own clients to start off like family or friends. However, the options you'll be presented with are dependent on your age. PFS Investments, Ex-Broker Under Investigation for Securities Fraud Primerica Reviews - Legit or Scam? - Reviewopedia I walked into the office and was greeted by a receptionist in her mid 40s. Denise Its sad that youre promoting this scam. I told her I dont have friends, so Im just telling her anything so shell drop it but she was so persistent it was ridiculous. We sell legit insurance, that either you already have, or might need at a price that is same or lower, with same or better customer service. Answer (1 of 24): From my recent exploration of their compensation plan, they are very similar to the traditional broker/dealer -> agent model of insurance, real estate, and mortgage brokers. Look into those; and if the person you are dealing with only goes to the one service and being a rep,, find another Primerica person to help you. As cool as this possibility sounded, it just seemed way off, I had many red flags that popped up and wanted to inquire on them, one of which I did, but figured Id investigate a bit first. I was about to have an interview tomorrow but I cancelled it. From then he sent us to different people to ask us some questions. In another spot on their website, they suggest that part-time agents may expect to earn about $500/mo (which is also $6000/yr). There are 125,000+ representatives so its safe to assume there are some bad apples. He asked for a check saying theyll cash it when I give the green light to go ahead. A typical recruiting ploy in Primerica is the job interview. Theres constant turnover from people like me, so recruiting needs to continue indefinitely. not entrepreneurial Its not a business, its a scam. In Primerica, the game is recruiting into infinity. 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. Ponzi schemes simply require a cash investment to earn returns. MLM jobs are not jobs at all. I would love to hear a Primerican respond, and dont use the cliche, not everone is right for Primerica, because that realistically just points the finger back at their recruiting department! Snowden Dunks on 'The Get-Rich-Quick Real Estate Investing - Vice End of recruiting. BUT, there was something not quite right about him, too smooth. Fortuna, the goddess of wealth!? He specifically mentioned that he was looking for a qualified office manager and that my resume looked like I was very well qualified. No, I am not very angry with the company. I do, however, believe it is very important to inform people about the truth behind multi-level marketing. I joined Primerica and spent about 2 years trying it. I wasted time I dint have wasted my energy got myself siked up for NOTHING! It is generally legal, regardless of the fact that so many have no chance of turning a profit in MLM. Not a fan of recruiters that will give great compliments, offer big promises with no details & make unemployed people pay 100.00 to get started. I immediately texted Mary to shred my application and that I was not interested. You have no honor in your name. So there really wasnt an option for riders. I thought I had a job interview today where the man switched to trying to get me to be a Primerica rep. Through this method, a modern pyramid scheme takes form, meaning the next generation of scams and get rich quick schemes are going to move away from cosmetics and protein powders and towards the blockchain. She told me, I dont think of it as sales, but rather as helping people; dont you want to help people? I replied, yeah, by repairing computers, not by getting them to give me their money and expect unrealistic returns on their mutual funds! Well, dont you want to see what sort of assets you currently stand to retire with? No, came my reply, do you have a need for an IT guy or not? We need people from all walks of life! she reminded me. If this company is a scam how is it we just ran the closing bell at the NYSE? Everyone was extremely nice. I leaned forward and held my breath to try to hear the womans reply through the phone. Please advise if any lawyers or regulators read this ! What should I be doing? It is not easy to get started, but I must say my brother-in-law is very well off today and one of the top salesmen in Texas for Woodmen. Criminal background checks required. So this got more fishy. He agreed, however, I had a bad feeling about him and the conversation we had had and decided not to call him back. Only said that his company was part of the stock exchange and made more money than Yahoo -_-. Sounded too good to be true about the money and needless to say thank-you to everyone here I will not be going. Oh my bad I guess money is a scam to you as well. I arrived at the interview and when I walked in the door I heard LOUD hard rock music playing. Googled my way here. Yes so would you call NYSE a scam? I then googled Prime America and this site was the first thing that popped up. Oh Boy. I havent called this company in 5 years for anything, and the moment I need some actual assistance, Im treated this way. WHY DIDNT I GOOGLE IT??? After, of course, buying into the company and getting my license, etc. Take time to get out of dodge. She gave me her spill . Have worked as a broker before, was in an MLM in the 90s, and I just dont like being cutthroat and lying to people. She asked if the woman and I interviewing would be interested in receiving our free financial health check as well as a follow-up appointment for the orientation session so I can get out there and start making money. Since 2009, Primerica has recruited 1,502,173 people. I realized, if success at PFS meant doing this forever, I might not make it. *Money.USNews.com, "How to Find A Financial Advisor if You're . My info along with my social number. I ended up seeking out one of the young men and telling him I was there for an interview with Mr. Blah Blah. After reading all these comments im convinced now. Then after 45 mins he told me to come back. Good thing I have learned from Dr Phil! Then she laid it on the table: I needed to go out and start recruiting. Ive had group sort of discussions before, but this seemed to be more of them trying to sell me on a position (it almost felt like they were trying to sell me the products themselves) They didnt ask me many questions about myself, so it felt like they were looking for whoever will take their job, not who wants it. Primerica, Inc. | Reviews | Better Business Bureau Profile She wanted to help this person out of her terrible job by interviewing her for a position at her business. I told him I was talking summer courses and I really wasnt looking for work but I actually was (does that make sense?). A pyramid scheme is a fraudulent and unsustainable investment pitch that relies on promising unrealistic returns from imaginary investments. Went well. Not lying to them about what happened either. Suck my ass. wth. But to shut down a business just because over 100 of you said it was crap and the rest followed after you did your own research. That is a big reason why this company has so much negative publicity online (even on its Wikipedia page!). There is more money made in consumable products than anything else. I had heard him talk many times about the cars and houses that the top leaders in the company owned, and had asked him when he was going to get the viper posted on his wall. However, when I suggested that my previous experience would leave me worthy of positions like Business Analyst, I was informed that those positions were only available in the corporate office located in Georgia. Anyone? Remember that Primerica reps have something to gain with whatever they tell you. Ask God. Thanks everyone for your honesty! As you also stated, there are no downlines involved. I had an interview yesterday with the regional Vice President. I have morals, I have my beliefs, everyone has their entitled opinions. The critical difference between network marketing and a pyramid scheme comes down to the products and services they offer. He then tried to get my bank account info right after and I just barely made it out of that. I did find it funny though, because it was clear he was representing an MLM based on the fact that his business cards didnt have an actual company name, used a generic Vistaprint background, and listed him as a Financial Coach or something like that. John would be furious with me.. Thank goodness I didnt fall for that crap. Unlike working at a job where, if you do something great, your boss yells at you because you make them look bad. I will not be invited back even though the host is consider me a friend and wants me to be on her team (her words). With currently over 90,000 representatives, Primerica may have reached that point. However, companies, I was in college when they reached out to me about coming there to work. (The Primerica reps will tell you their payment structure is no different. Well guide you through the process. another red flag when up in my head, majority of my friends held the same job for years so who the hell gave you my number? Be aware, I messaged on Facebook, and the account had comments saying Hey man, I think your account got hacked Ive been getting odd messages from you. Long story short I didnt fill out the employee application because I knew right away this wasnt for me. So upset. 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). Blah blah blah. Its based on any rep earning $100k DURING ANY BEST 12 MONTH ROLLING WINDOW during their entire careers. As I walked away, I thought it was really weird and random that this woman would just walk up to me in the middle of a Target and offer me a job. They do use a multi-level marketing business model but they are definitely not a pyramid scheme. No one hands you a silver platter without some work. She said she wanted to talk to me about something she & her boyfriend, someone I also know, were doing, and wondered if I would be interested in going to a little meeting at her office. Here are just some of the things that threw me off, he contacted me on Facebook, very informal. They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. * Is it possible that the services Primerica provides justifies a higher product cost? Why didnt I say, when he was at the bottom of page 1 that I didnt think it was the right fit and move on??? 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. Georgia Insurance and Safety Fire Commissioner, 2 Martin Luther King Drive, S.W., 716 West Tower, BBB Tip: How to shop for financial services, Need to file a complaint? So I bit and went to the interview. Im currently in the process of getting out of my tiered J-O-B and starting my own tiers separate and independent of my current J-O-B. And many join daily as new agents. There are bad people in ever field of work, the financial industry is no different, which is why they have strict rules in place. 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. I realized what it was after that meeting immediately. I didnt have to read much of this thread to decide that I am no longer going to the interview that I have scheduled for Tuesday. Now what?! Hope fully this site Tracy set up will eventually catch the eye of the better business or someone who will make this kind of shady business tactics disappear . The theory is this approach will provide a greater rate of return compared to the paid-up dividends of a whole life policy. A huge amount of life insurance agents have their life insurance with Primerica because we sell the best product for the least amount of money and we know how to show you what you are getting so you wont be fooled by a scammer. That fact in itself should be an embarrassment to any organization, requiring immediate action. As a matter of policy, BBB does not endorse any product, service or business. The second warning sign was she didnt have a business card, but rather took my phone number down on a notepad and advised her business partner would call me. I am really glad I did my home work on this company and thank you to every one for the honest postings I will not be wasting my time with scams. my business. There were a ton of empty chairs and he said there was just a big sales meeting earlier. Im going to trust my grandpa on this one. I tell her about my jobs, what I used to do, etc. He signed me upNOW, after reading all these comments Im regretting doing so. I sat through the whole thing and, unfortunately, was actually pumped up about it & ready to start making money! 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. Got a call back today, saying my interview stood out, and to come for a brief information session. All the money being made in the quick amount of time. For instance, he said Whats your favorite restaurant? Very very unprofessional company. Please dont contact me again. Ta da. Thanks to all for the above info. When i asked for a website he diverted the conversation to something else. At this point, things seemed a bit odd. I quit altogether after 2 months because it was the most draining months of my life. She mentioned her husband company briefly and for someone else to pass on the info. Because there is recruiting with so many levels, the distributor who sells the products receives much less money than if he or she sold similar services through a traditional insurance agency or investment company. I advised that I am not looking for a sales job, as all the cold calls about my resume have been for sales positions of one sort or another, and I really do not like selling. Your financial situation is unique and the products and services we review may not be right for your circumstances. All pyramid schemes eventually collapse, and most investors lose their money. when I asked how they obtained my number they said through a referral. Theres no scheme, no one earns more unless you DO more. I tell her I would like to do more of it. Wow I just spent $99 on nothing!!!!!!! The good old fashioned telemarketer approach *laughs*. Took a few days of being put off, appointments came up, etc, but finally we were sitting in his office, my stack of resumes in front of him, me sitting eagerly poised to take notes. Her daughter has had rough luck a failed cornea transplant has left her half blind. Regardless, I thought I was really starting the new year great but Im more relieved they taught us about pyramid schemes in high school. ..so i asked her if its such a legit company why do I have to pay for my background check and why is there so much secrecy and then sign of primerica is most outside. She handed me a clip board and asked me to fill out the information requested. I, too, have an interview for tomorrow that I doubt Ill go to now! When called at home, I got a vague assurance that I would be a good fit. This part-time position, in particular, Im thinking might also allow me to train in a new-but-related field at little or no cost (save licensure fees). This is the same for any insurance or investment company. Do you even know why you exist? I would certainly warn anyone who might be roped into this to DO YOUR RESEARCH!! OmG people you are not making a difference commenting here report it to the BBB online or phone I did . (i.e. I enter the building with a standard Primerica logo, inside its completely empty with only her and no receptionist. Tameka All insurance agencies are NOT pyramids. He wanted to set up an interview as soon as I was better and continually called or text me to see if I was better. She is candid, very kind, open. Primerica is a multi-level marketing company. Business opportunities are not for the weak at heart. For sure I am not going. I also knew what John would say if I asked him about that one. Ive been to these type of interviews before, any job that directly takes cash from you and its not for uniforms is red flag worthy (scam). Therefore, before joining Primerica, you might pose and ask yourself if it is a pyramid scheme. peace out dawgs. I too have an interview scheduled for tomorrow. They used what I told them about myself to further what they wanted from me. Were looking for someone to hire and train as a investment advisor for expanding finance department. I put down my 5 usual references for jobs and returned the clip board to the receptionist. So an agent sells a property, and the agent gets a commission and the office/team gets a commission. I can feel itll just be a waist of my time and I would rather work for a company with a good reputation. I googled psfl darmouth (included in the e-mail) and the first link was primerica is a pyramid scheme/scam so that was enough for me. You will be expected to go out and find new victims to sign up for the scam. Just like most of these posts, they said they werent looking for people who have college degrees or serious career experience. I didnt think much of it until I went inside. And by work, of course, I mean pay them for their 36-week training course and then a monthly fee afterwards. A lot of people like in this blog are used to trading their time for money, going from one job to another. I asked him if this was optional and he said No, its REQUIRED. Thats where my suspicions got ever higher. When I started asking for e-mails and more information about the company. Im glad I did because this job sounds JUST like a job that sent me a postcard a few years ago saying they wanted me to work for their company. So glad I ran into this, a man at a store who was very charming said they were looking for employees, I have had a bad feeling about him for about 2 years now and he has called like 3 times since, every time he gives me a little more information, it all seemed very fishy, finally said I would meet up this week but would google them first. I think Jorge is actually Donald Trump. Im 18 Im not looking to make that type if money like that, Im looking for something simply to get me through college. I could hear a party going on in the background and the aroma of delivered pizza hit my nose. (Of course, I would also counsel any folks I recruited to the effect that starting with Primerica part-time is the route to avoid disappointment.). Result was what I had expected. * If Primerica is a scam, how have they been in business for almost 40 years? No mention of the office manager position the other man had offered, so I decided not to bother bringing it up. I have an interview with them today which after reading these helpful post I will definitely not be going. What a joke. He contacted me about a week ago about a possible part time job opportunity working for him in a company that he said earns him more money than his full time job at the funeral home. Its the 23rd already, isnt it? He set me up with an interview with the lead, and when I went in, it was really no interview at all. What should I do? I set up the interview, on memorial day, not knowing the name of the company. Im so glad I found this site. I did. Basically, i refer 3 people and make $700. Awesome reviews everyone! I told her I was looking for a salary based job opportunity and if she couldnt offer that, then I was cancelling the interview because her job offer didnt fit my current needs or interest. Reading this gave me something to do for a little while this morning and appreciate the honesty. The company is not a scam. Two days later, I find out that he hasnt paid the bill on the employee health insurance, the insurance lapsed, and now people are getting medical bills that were supposed to be covered. Just went through class. She called me today asking me about coming in. Yes, you must be licensed, for life insurance and securities. Not going to the interview tomorrow. Here is another good read that breaks down how much the corporation makes just from recruits, and reps: (another red flag.) Wasted my time. I just received a voice message from Primerica, they had gotten my resume off of workone job site. Ive never seen the number before and I typically do not answer unknown numbers but I still did to see who it was. It is a shame that there are companies out there who still make money off these scams. Its interesting that I came across this, especially since Primerica is also traded on the stock market. Fraudsters frequently use social media, Internet advertising, company websites, group presentations, conference calls . She kept saying opportunity rather than job, or career, and my attempts to get more detailed information were deflected with promises of being answered later or at the orientation session being held the next day. Thanks so much!! Its such bull do do guys. Not going to take offer with the tidbits from this site as well. I got the appointment with out know the many of the company, when I got there the girl asked to fill out a form with what I wanted as my career how much money I wanted to make ect, I made the mistake signing up thinking I was signing up for life insurance and trying to help a friend out that works for this company. Tony Thanks for your concern. Indeed, I was invited and liked. Looking for any advice to be offered before the impending interview.. Even the classes were weird and subpar. I too have been approached by reps from Prime America (while at work at 12:00 am) about this great job opportunity, that I have a great personality, outgoing, would fit right in yada, yada. 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. Three days ago, a pair of women came into my store to purchase some items. The interview ended there. Primerica is a legitimate multi-level marketing company based in America. I got a call a little while again and it seemed very odd. The rep said she got my resum through Monster and wanted to give me an opportunity. Just to note i did research before the interview. I suffered through the classes only to never hear about my financial planning budget ever again because my reps had no idea how to put one together. Asked for my phone number, stating that while he didnt know my situation, he would be interested in offering me a job. I entered the room the woman on the phone had told me to go, there were about 20 other people in there with a presenter holding an iPad on his hand. I did go to an interview with him his office was eerily empty, a dark, one-floor building that looked more like a conference center than an office space. After all of this fiasco, they have become very distant friends and I FINALLY own pretty successful and growing business now from my own hard work. Hmmm, makes you rethink a few things. One of my classmates from a dispute resolution class I had this past winter called me one night about a business opportunity she wanted me to check out. I dont know why i get that feeling when a job has to take more than 30 minutes to explain itself to a group of people, they told us to hold our questions until the end of the presentation. Just thought I would share my very recent experience and thank you to the author of this blog for posting this, otherwise I may have been suckered into an interview but then again, I dont typically work or have any experience in the financial industry and tend to stay far away as it is for positions like this or anything to do with insurance etc. I hope theu chok on those miions $ they made when we went public . Everything Ive written here is true so please dont waste your time on these people. Now, the warning flags were popping up like crazy! Top 10 Famous Pyramid Schemes 2023 (And How to Avoid Them!) 85% of people cannot pass insurance test. Am I applying for a job? She deflects quickly, This is the part when I get to know YOU. I had been suckered before into going to an interview for what turned out to be a door-to-door sales job, so I was wary of this one. Talking to him? 403bCompare - Mutual Funds offered by Primerica Got an e-mail (I use that term lightly, he had a hotmail address) from someone saying my resume had been passed on to him. Something about more information.. John said, crisply, Im offering an interview, thats the first step in the process. How to spot a pyramid scheme - Stacie Bosley - YouTube