This organization is a scam. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. PFA and WFG are both legitimate company, not a scam. In addition, the PFA agents receive a commission when they recruit a new affiliate. Annuities, Life Insurance, Long Term Care Coverage, Income Protection, Medicare Supplements and more. But what if you could turn that idea into your reality? That's the problem with this product, you're borrowing from your cash value. 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. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. Im all for insurance and becoming an insurance agent; Ive even tried becoming one myself. Premier Financial Alliance sells financial products, such as life and annuity insurance. 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. Online, offline, email, or postal. Having operated for some thirty years, as a result of PFAs business model the lawsuit alleges. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events.2. Premier Financial Alliance Compensation Plan. But hey, everyone has to start sometime right? Headquarters Regions Greater Atlanta Area, East Coast, Southern US. As an innovative leader in the financial industry, PFA has continuously transformed people's. Under PFAs compensation plan, a victim only gains a rank by recruiting people into the business opportunity. Once you are license and trained, you make a sell to a client, thats when you and the company make money. PFA and WFG does not make money of recruiting people. 5.2 miles away from Premier Financial Alliance. HOME; JOIN PFA; P-TRAC LOG IN; PRIVACY POLICY; TERMS OF USE . The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. Defendants named in the lawsuit include Premier Financial Alliance, David Caroll (CEO and Founder), Jack Wu (chairman and ringleader) and his company AJW Productions, Rex Wu (field chairman), Lan Zhang (an original member of PFA), Bill Hong (conspirator). Money is just by product. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. That was the first red flag but I was bored and curious. That's for any industry you go in. failure to submit sufficient evidence that plaintiffs affirmatively agreed to the terms of the Premier Financial Alliance Associate Marketing Agreement (AMA) by clicking a box in an online registration form. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. 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. "I love PFA because we create positive change in peoples lives. Need Assistance? I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. 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. Disrupting the financial services industry. From our products and services to all the good we do in our communities. If so why would you borrow what is yours? 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. 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). Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. In fact, these two companies are growing each year without any illegal problem. theYear = theYear + 1900; Nowadays, people can sue people, company sue company every day. But looks like company agent screwed Nepali and Bhutanese immigrants. Knowledgable and experienced mentors with you every step of the way. Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. Worse, if its proven to be a fraud, your name might be dragged in it, too. To actually learn it, knowledge it, not just be told by other people. PFA agents or the PFA don't make money on $125 fee. JW's Rise to Success. Premier Financial Alliance Insurance Pyramid Scheme Complaint. Tickets purchased by May 31, 2022. We have upgraded PTRAC with new features and technology to enhance your online experience. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. 155 Kapalulu Pl Ste 289. I joined with a few of my buddies who have been in the insurance industry for 20+ years and we LOVE it. Honestly, I dont see anything to like about Premier Financial Alliance. Someone reached out to me on Instagram recently. 1 General Admission ticket. The court also noted that so many of PFAs affiliates reside in California. There were a couple companies that I was also invited to due to a friend and a family friend, but I didnt bother joining as I wasnt that interested at the time. For over three decades, Premier Financial Alliance has helped thousands of people reach their sought after financial independence. The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel. Stated aims of the class-action include establishing. Premier Financial Alliance. While I wont directly tell you that Premier Financial Alliance is a scam or a pyramid scheme, I will let the facts in this review and the reviews of other people help you decide. I hope you enjoyed my Premier Financial Alliance review. I'm a stay-at-home mom always on the lookout for ways on how to make LEGITIMATE money online. I cant stress enough the importance of knowing the details about their compensation plan before going into the opportunity. Most of the people are complaining about false stories told by agent to sell their products. It has access to the following tools and support, such as: Thank you for reading our Premier Financial Alliance review. Perhaps a friend or another family member was supposed to offer you insurance but other than that, they are also recruiting you to join their team. 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. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. I also love to write; when not working as a content writer, I create blogs about skincare, makeup, motherhood, and digital marketing. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. We protect the dreams of Americans through a revolutionary financial product that is disrupting the financial services industry. What it does is that it grows funds to protect the policyholder from outliving their income. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. Other than MLMs, one of the most questionable products or services is insurance, and perhaps thats one reason why there are people who dont have it yet. The price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. they never personally agreed to PFAs AMA. Btw I also paid my friends $125 cause he didn't have it at the time. ? In this company we all help each other. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Do you ever find yourself thinking about your financial future? 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. Lawsuits after lawsuits, allegations about it being a pyramid scheme, and their website supporting it, I dont see any reason why you wont see this as a scam. Honolulu, HI 96819-1826. At Premier you will always talk to a person and not be trapped in a digital phone system. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. Premier Financial Alliance Seal Team Business details. If you have questions or comments, please feel free to share them below. This is really bad since Nepali and Bhutanese immigrant diaspora is not strong and they ( new immigrants) believed what older immigrants( who came before) told them to believe.Bad part is most of agents are older immigrants. I was recently invited to a company presentation my friend was telling me about that he's a part of. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. Community. BehindMLMreviewed Premier Financial Alliancein 2016. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. Now I lost $125. Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. Lawsuit After Lawsuit Calling It A Pyramid Scheme. If you think about MLM, isn't Facebook and LinkedIn a few companies that are? Daily lunch (Sept 27-29th) Early check in September 25, 2022. This is our shared vision. Because at first it seemed "too good to be true." 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