| Financial Education/Employment - Click HERE for Original Thread |
| GT45 |
I started working with a company called World Financial Group. What they do is help people get a hold of their finances and get out of debt and prepare for retirement. It doesn't matter your age or your income, they help everyone at no expense.
Also if anyone's interested in a little more income, with only 5-10hrs a week put into this helping 2-3 families a month, you can be clearing 40k a year no prob . And all you're doing is going around to people's homes, sitting down with them, having a coffee and getting their finances and investments in order.
I realize the actual service isn't for everyone, and not everybody needs help with their finances. But I know there's a few of you out there that know people that do. So if you do, don't hesitate to PM me and I'd be more than happy to help them out.
And just to put into perspective how many financial educators there are, Fort Mcmurray only has 4 people working up there if you were to combine every financial advisory company available.
Feel free to PM me with any questions and I'll so my best to answer them. And check out the website if you're feeling a bit skeptical.
http://www.wfg-online.ca/ |
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| Lukesky |
| Oohhhh... this is definitely the wrong place to post anything about WFG... Lol. |
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| euro777 |
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| Graphicdude |
| Ya that company is Taboo in these parts. Although I am not an employee I do use them for some of my investments and insurance policy :D No complaints and IMO well worth it. |
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| Lukesky |
| Oh no, no complaints about World Financial. Just the fact that he put up a 'recruitment' post... I figured that would be a very easy subject for people to come in here and flame him.. Lol |
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| 30psi_on4banger |
| this is just a pyramid scheme, some salesman at the old dealership I worker for was bugging us everyday to do this |
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| Graphicdude |
| Booooo!!! Pyramid schemes!!!! You FAIL!!! :ban: :ban: :ban: |
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| Kiddo |
do you think banks like TD, RBC and companies like Franklin Templeton, Transmerica, Equitable Life Canada, AGF Trust, would be dealing with this company and offering them services not available to the public that only WFG Agents have access to. Do you think they would deal with a pyramid scheme? those are illegal everything these agents do is regulated by the government.
Pull your heads out of your asses and stop judging based on the actions of a few IE: your car dealership salesmen. These people just make a bad name for the few of us who are actually trying to help people make their dreams a reality in the future.
GT45 is just putting it out there for those who want to see what its about. I would have done the same but I'm already booking appointments 2 weeks in advance.
Go take a look at how a big company is structured, IE: loblaws, TDL corp, any type of distribution company. Draw a picture, You have your VPs, CEOS,....etc....., D. Managers, S. Managers, Supervisors, Employees.. Now draw up the bonus scales and find out who makes what? Starting to look like a MLM hey? Royalties are only paid to those who are on top. Wow sure looks like a form of MLM doesn't it. Now name one SUCCESSFUL company that isn't structured this way.
The only thing that FAILS is IGNORANCE. |
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| GT45 |
Thanks Kiddo,
It's a growing problem right now, people not being able to retire and it's a reality. About 91% of you won't retire with enough money, guaranteed.
Ignorance is bliss. Read up on it even talk to me if you're interested. But don't make posts without having the facts to back it up please. |
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| phoenixmillenia |
Wow, someone really bought into the introductory seminar. If you want to encourage research, do your due research on World Financial Group as well before getting involved.
Just because a company can offer investment advice doesn't mean the quality of investments they offer is also good. Sure people retiring without enough savings is a problem, I'm just saying WFG is not really the answer.
Do your due diligence and invest where your money is well looked after. I work for TD Canada Trust/TD Asset Management, and we in the real industry know what WFG is really about. |
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| Mobius |
Ryan,
I guess that means you're not going to be getting an FD?
It is, after all, one of the worst financial decisions a car enthusiast/rotorhead could make.
:p |
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| Kiddo |
| and once again... TD doesn't have superior products, only in some areas. You work for TD all you can do is sell TD products to keep your share holders happy. Being Independent allow us to shape the products towards our clients, not shape our clients towards the products. We maybe small here in canada, but we are making big differences and growing at an incredible rate. |
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| GOT BOOST |
quote:
Originally posted by Kiddo
do you think banks like TD, RBC and companies like Franklin Templeton, Transmerica, Equitable Life Canada, AGF Trust, would be dealing with this company and offering them services not available to the public that only WFG Agents have access to. Do you think they would deal with a pyramid scheme? those are illegal everything these agents do is regulated by the government.
…..
Just to clarify,
Any full service advisor at any firm can offer these. You can also receive these products through discount brokerages too. These products are not exclusive to WFG. At the end of the day, they are mutual funds or segregated funds (insurance products).
WFG has chosen to do business with these companies, it is not the other way around.
Yes, only banks can offer bank products. Bank owned brokerage firms can offer a lot more than bank products. Independent non brokerage firms like IG, WFG can usually only deal with mutual funds or Insurance products.
Best thing for anyone to do is do your research about the company, fees charged, commissions, and the value you would receive. |
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| euro777 |
these questions should be really easy to answer for WFG associates
1) how much money out of pocket do i have to PAY to become certified/licensed?
2) How many people do i have to recruit under me (who have to pay above fee) to start making money?
3) Is the amount of income generated (by you, not WFG) dependent on the amount/value of investments you set up or the amount of individuals you recruit as future associates?
i am educated and gainfully employed- the answers to these 3 questions will help me gain insight to see if this is something i may be interested in as a way to supplement my income so i can be like this guy
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| TrevorK |
quote:
Originally posted by GT45
Thanks Kiddo,
It's a growing problem right now, people not being able to retire and it's a reality. About 91% of you won't retire with enough money, guaranteed.
Ignorance is bliss. Read up on it even talk to me if you're interested. But don't make posts without having the facts to back it up please.
If you're going to post up a crazy statistic like this, you are going to need to provide logical evidence to back it up.
As you are working in the financial services sector, specializing in investments and retirement planning I would expect that your knowledge should be vastly superior to mine, and you can explain to me why someone cannot retire on GIS/CPP/OAS/social security nets in today's society.
Fearmongering is not a way to attract clients to your financial services business, it is unethical to portray the world as burning down if they don't save for retirement.
My opinion is that there is more than enough money available in social security benefits that anyone should be able to live through their retirement, even if they haven't saved a penny.
Our society caters to those who are in financial trouble, and even when dealing with subsidized housing for seniors it is based on what they make, not a fixed amount. Seniors live on fixed incomes, however it is often out of choice and pride that they face financial difficulties, not lack of government support. |
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| Lukesky |
Like I said.. No complaints about WFG personally. I was going to do it.. just because I was interested in the way money works. It definitely is a great business... and a great way to make some money. I know some very high up people in the business.. I just don't want to be that pesky family member hitting up all of my uncles, aunt's, cousins, friends etc... to get them to come 'check out my business' so at the end of the day I can grab a paycheque.
Now Kiddo.. If you higher someone, you make money off of what they make per customer, correct? |
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| TrevorK |
quote:
Originally posted by euro777
3) Is the amount of income generated (by you, not WFG) dependent on the amount/value of investments you set up or the amount of individuals you recruit as future associates?
Just so you don't get the wrong idea, many investment advisers are paid out commission based on their client's portfolio (how big it is, what funds are inside, etc...). This is not limited to WFG.
At WFG they will receive income based on people who sign up under them as "associates". They will also receive income based on people who use them for their financial needs, as signing up with WFG does not mean that you have to be an associate. You can sign up with them for strictly investment purposes if you so choose.
This also answers your second question, if you wanted you could be a part of WFG and make money without recruiting people underneath you. The allure is that as people underneath you realize how you have "helped" them, that they themselves will choose to "help" friends out and become involved in WFG.
In reality it's similar to having a good experience as using a financial advisor; if he/she provides good service you will likely recommend them to a friend. With WFG, you have the ability to become an associate and actually sell products to your friends, using what your adviser has taught you.
(And no, I don't work for WFG) |
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| euro777 |
quote:
Originally posted by TrevorK
At WFG they will receive income based on people who sign up under them as "associates". They will also receive income based on people who use them for their financial needs, as signing up with WFG does not mean that you have to be an associate. You can sign up with them for strictly investment purposes if you so choose.
This also answers your second question, if you wanted you could be a part of WFG and make money without recruiting people underneath you. The allure is that as people underneath you realize how you have "helped" them, that they themselves will choose to "help" friends out and become involved in WFG.
(And no, I don't work for WFG)
i am very critical of this type of scheme
for me to "help" people below me do i have to make them pay the fee to be an associate??? and then for them to "help" other people........those others have to pay and the more people paying below people paying below people paying......and so on.
IS THE MONEY MADE ON INVESTMENTS OR EXPONENTIAL RECRUITMENTS????
my money is on the way that preys on idiots |
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| phoenixmillenia |
quote:
Originally posted by Kiddo
and once again... TD doesn't have superior products, only in some areas. You work for TD all you can do is sell TD products to keep your share holders happy. Being Independent allow us to shape the products towards our clients, not shape our clients towards the products. We maybe small here in canada, but we are making big differences and growing at an incredible rate.
I can sell whatever I want, not just TD products. TD is just the firm I work for.
What really concerns me is what kind of "Education" do these WFG reps have that qualify them to discuss investments with the unexperienced customer? |
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| euro777 |
quote:
Originally posted by phoenixmillenia
I can sell whatever I want, not just TD products. TD is just the firm I work for.
What really concerns me is what kind of "Education" do these WFG reps have that qualify them to discuss investments with the unexperienced customer?
all it is pressure tactics, the recruiter who tried on me had this fancy presentation showing some young guy with a sweet car (i think it was a 350z or an audi TT) and he made XXXXXX in just one year blah blah blah.
i was so skeptical and had so many questions that could not be answered that the girl basically gave up- i guess i wasnt "sheepy" enough.
i have an idea for people who want to get rich and retire early-
WORK YOUR FUCKING ASS OFF, MAKE GOOD INFORMED DECISIONS AND DO NOT GET SUCKERED OUT OF YOUR HARD EARNED CASH!!
so everyone who read that statement of how to get wealthy please send the check payable to euro777, and please recruit 4 more people to read my money making secrets. |
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| Kiddo |
quote:
Originally posted by euro777
these questions should be really easy to answer for WFG associates
1) how much money out of pocket do i have to PAY to become certified/licensed?
2) How many people do i have to recruit under me (who have to pay above fee) to start making money?
3) Is the amount of income generated (by you, not WFG) dependent on the amount/value of investments you set up or the amount of individuals you recruit as future associates?
i am educated and gainfully employed- the answers to these 3 questions will help me gain insight to see if this is something i may be interested in as a way to supplement my income so i can be like this guy
1.) you pay what anyone else would pay if they were looking to get into life insurance, mutual funds and securities. First you will pay for the company to do a background check on you, have a criminal record? too bad you are cut. The course for the LLQP is 1400 at Alberta career college, if sign up through wfg it will cost you 275. I don't know what other companies offer. After passing the LLQP, the nice people at franklin Templeton will pay for your ENTIRE mutual funds course (value of 1500).
2.) You DON'T have to recruit to make money. Thats right! its true! you will make a commission based on a point system. Your level of commission is based on how well you do over time.
3.) Your income will be solely based on both, it can be done one way or another but I find its better to have a team in place to help look after your clients when you are off on vacation. The more clients you have the more money you make its. This is a commission driven industry. The only difference is that if you build a team and you build it big enough you can open up a firm which will create another income stream for you and your team.
In the business format system, the only way YOU make money is 1.) you write up the financial plan for a client and they agree to give the go ahead and sign it or 2.) you teach your own team to go and do #1 you don't make much compared to actually doing number 1 because the person that signs the paper is the one that gets the big bucks but it builds residual for you in the long run. In conclusion, once your new associate signs a new life insurance policy or wants to sign up for some RRSPs or something along those lines, then and ONLY then do you make any money and it is a small portion (aka royalties). You will not make money off of them signing up in the program nor will you make anything off of them until they are fully licensed.
quote:
What really concerns me is what kind of "Education" do these WFG reps have that qualify them to discuss investments with the unexperienced customer?
You can only discuss investments and financial strategies if you have a license otherwise you are forbidden to talk about it. We have the same education as anyone else in the industry. The government licenses are major and having to go to class every year after to make sure you have enough credits to renew your license its a big deal. Not saying we don't make mistakes but everyone is human, just as long as we learn from those mistakes and are willing to take advice and criticism so that we can better ourselves to serve our clients better. Thats all that matters. A client can be unexperienced and I will tell you this we DO NOT go ahead unless the client fully understands what he/she is getting into. It is their job to ask questions because it is our job to answer them. IF an agent cannot answer the questions then they are not ready to be out in the field on their own and it will be up to that agent to seek advice and help. That is supposed to be the process but I do realize there are many people that work for this company that are only here to make a quick buck...
thank you Got boost and TrevorK for your input some of that stuff I did not know
EDIT: oh and by the way you DON'T have to sell to your friends and family, its just the suggested method because its just easier to persuade them. I didn't start out with friends in family I started in the cold market it was hard but still doable the friends and family knew I was doing it but I would never ask them I figure they would come and ask me when they felt comfortable and thats been happening slowly. |
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| phoenixmillenia |
quote:
Originally posted by Kiddo
You can only discuss investments and financial strategies if you have a license otherwise you are forbidden to talk about it. We have the same education as anyone else in the industry. The government licenses are major and having to go to class every year after to make sure you have enough credits to renew your license its a big deal. Not saying we don't make mistakes but everyone is human, just as long as we learn from those mistakes and are willing to take advice and criticism so that we can better ourselves to serve our clients better. Thats all that matters. A client can be unexperienced and I will tell you this we DO NOT go ahead unless the client fully understands what he/she is getting into. It is their job to ask questions because it is our job to answer them. IF an agent cannot answer the questions then they are not ready to be out in the field on their own and it will be up to that agent to seek advice and help. That is supposed to be the process but I do realize there are many people that work for this company that are only here to make a quick buck...
So do you get a license before discussing investment strategy with a customer? And what license do you get? Regulatory minimums are hardly qualification to discuss investments, they're merely just enough to process a trade. |
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| Kiddo |
quote:
Originally posted by phoenixmillenia
So do you get a license before discussing investment strategy with a customer? And what license do you get? Regulatory minimums are hardly qualification to discuss investments, they're merely just enough to process a trade.
Life Insurance license is the first step in addition to having to go to class 3 times a week to learn about investments and strategies. The westside firm keeps a close eye on everything a new person does to make sure they don't make a mistake as there will be a marketing director sitting in on every session you have with your client to make sure mistakes aren't made. The second step will be to obtain your Mutual Funds license on top of the 3 classes a week you have to go to at the firm. During the classes we have representatives from different companies that come in and discuss new products and services they offer and its a type of a Q&A and hands on activities to see how some of the products work across a 4 hour period. This also provides 1 credit towards renewing your license whether it be LLQP or Mutual Funds it depends on the course. On top of all this there is a program called the Super Saturday here where you go in and learn more about strategies and how they work and go into very deep detail.. |
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| phoenixmillenia |
| but what is your "mutual funds license"? IFIC? |
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| graphite |
quote:
Originally posted by euro777
all it is pressure tactics, the recruiter who tried on me had this fancy presentation showing some young guy with a sweet car (i think it was a 350z or an audi TT) and he made XXXXXX in just one year blah blah blah.
i was so skeptical and had so many questions that could not be answered that the girl basically gave up- i guess i wasnt "sheepy" enough.
i have an idea for people who want to get rich and retire early-
WORK YOUR FUCKING ASS OFF, MAKE GOOD INFORMED DECISIONS AND DO NOT GET SUCKERED OUT OF YOUR HARD EARNED CASH!!
so everyone who read that statement of how to get wealthy please send the check payable to euro777, and please recruit 4 more people to read my money making secrets.
Yea I went to one of those little presentation things, "You can make $XXXXXXXXXXXX working here" and so on and every person giving giving there life story of how they had nothing before joining the WFG and now they are millionaires. When I was walking around their office/ recuirtment center I noticed they had a few plaques on a wall of employees that made over $50,000, $100,000 and $250,000 and there was only maybe 20~40 names on these lists, that really threw me cause I had been told there are hundreds of people working in their edmonton branch. All of these stories about making all this money and only like 2% of the people working there make over $50,000 a year? |
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