", "You're never too young for life insurance. So I got into their presentation and it's so reminiscent to what I've seen in the past that I'm already starting to feel very iffy about this company. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Lan Zhang appears to be a top Premier Financial Alliance affiliate. So I have nothing bad to say about them. Phone Number 888.867.6533. Community. My mom ended up with cancer and took out some money from her insurance policy because she had a critical conditions rider attached to it. Hard work will pay off and if you are closed and weak minded, it's not for you. Read More. January 12, 2022. Nowadays, people can sue people, company sue company every day. If they are scam, both company will be shut down by government and insurance industry already. 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. Just personal reference. This is a help forum - bad advice will get you banned, and we do not consider "just joking" to be a defense of advice that would be harmful if followed. Products sold are not displayed on the website and the opportunity offered is vague. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. Do you ever find yourself thinking about your financial future? Address Line 1 *. 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. 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. June 25, 2018. Premier Financial Alliance, Inc. (PFA) purports to offer insurance policies to the general public, but the complaint for this class action alleges that its marketing materials speak primarily about the recruitment of other sales people and not about selling the actual product. Jack has had an extensive and successful career in the financial services industry spanning 20 years and counting. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. As per a July 1st order however, the hearing was continued till August 20th. The importance is, is the lawsuit successfully. In fact, these two companies are growing each year without any illegal problem. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. 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 are obviously doing something right. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. If you pay for them, you ruin your only profit line. I would suggest to you vadude1, to give this a try. While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. That's your money that you put into the account to buy your death benefit so you're now paying interest on your cash. Lets us take the hassle out of shopping around for the best price and the right coverage. Suite 289. Stated aims of the class-action include establishing. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. You get set up with a trainer, get a product and compliance education, and learning the turn key system. As far as I know it's a legit company. That deterred me from committing. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. This means that the same Californian Judge will hear both cases. That could be problematic because more or less, they will do their best to persuade you in joining the program. Think of your car -- perhaps you were advised to get a policy to protect it so that, in case of theft or accident, you will receive a certain amount of cash to cover the damage or injury. For one, if its the sole source of income, it is unstable. Easy account access on the go! Copyright But what if you could turn that idea into your reality? Death is not required to gain protection from this type of insurance. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. Affiliate membership requires payment of a $125 fee. As a new Premier Marketing Associate you will be instructed that the key to attaining success in your business lies in assisting each of your . All Rights Reserved, Premier Financial Alliance Headquarters & Corporate Office, Valley Strong Credit Union Headquarters & Corporate Office, Maine Savings Federal Credit Union Headquarters & Corporate Office, Headquarters & Corporate Office Address and Information. Although prospective associates are told they will be able to maintain their own insurance business, the policy bought and sold through the pyramid is significantly overpriced. Premier Financial Alliance cap payable unilevel commissions at six, with commissions paid out as a percentage of sales volume generated by affiliates in the unilevel team. Is Premier Financial Alliance legit or a scam to watch out for? For improved security and optimized performance we highly recommend upgrading your browser. If you think someone is trying to scam you, this is the place to ask about it. Some are legit with good opportunity while some are a downright scam. There are fees that you need to settle to become a licensed one and more or less, you need to pay $100 to $200 for this. Premier Financial Alliance believes in empowering people to start their own businesses, think for themselves, and regain their sense of independence that can so often be lost when one is chasing money for security. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. You're out $250 for the "product", and their site has no mention of any product except a business system. PFA and WFG are both legitimate company, not a scam. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. if (theYear < 1900) { Premier Financial Credit Union Mobile Logo. Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing. If Premier Financial Alliance is indeed an MLM company full of affiliates earning commissions based on how much their recruited downlines are spending each month thats a problem. This is a help forum - bad advice will get you banned, and we do not consider "just joking" to be a defense of advice that would be harmful if followed. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. Living Life by Design Indexed Universal Life1 is customized specifically for and distributed exclusively by PFA. The culture, organization, and leadership are great. That's for any industry you go in. If you think someone is trying to scam you, this is the place to ask about it. This is our shared vision. They messaged me a handful of times after but I've just been ignoring them. According to allegations of an ongoing lawsuit, Premier Financial Alliance earns all of its revenue through recruitment. in Life Insurance, Auto Insurance, Home & Rental . The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. In addition to covering that, today were also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. Now I lost $125. In response to Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration. Anyway, insurance, from the word itself, means guaranteed or assurance. To make money in PFA and WFG, it requires hard work and servant mentality. I also love to write; when not working as a content writer, I create blogs about skincare, makeup, motherhood, and digital marketing. Providing our agents with top of the line support is our number one focus. Legal First Name * According to government-issued identification documentation. 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. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. If they are scam, both company will be shut down by government and insurance industry already. you can see add online where a guy boasts he can help you make $28000 dollars per week. I wont sell this Insurance to any my friend or family. To actually learn it, knowledge it, not just be told by other people. 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. 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. Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. All it says is that they are selling your dream but if I know, this is a way to attract people. Multi Location Business. Tickets purchased by May 31, 2022. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Ask about our exclusive product that offers the potential for a higher guaranteed lifetime income than a traditional fixed annuity. Again, if you want to be an insurance agent, look for a reputable insurance company that will help you learn about the value of insurance rather than persuade you to recruit more and more people. 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