According to allegations of an ongoing lawsuit, Premier Financial Alliance earns all of its revenue through recruitment. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. If yes, then you should join our top-recommended program. So I have to give you personal contacts and persuade them to join the team or to buy life insurance but I wouldn't be making any commission off MY contacts because I'm still "in training" and not a certified life insurance agent yet? 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). PFA and WFG are both legitimate company, not a scam. Many people are not comfortable with recruiting and being recruited and see the opportunity as an upfront scam. Its hard, but once you make it, understand it. Is he supposed to have used a life insurance for that? Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. p.s. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. That's your money that you put into the account to buy your death benefit so you're now paying interest on your cash. Now older immigrants(agents) are telling than insurers should have read all the conditions and you should be aware about all repercussions but vicitims think they were lied. Here is a Blueprintto Owing Highly Profitable Online Business Without Any Experience REVEALED! Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? 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 clients to reach their financial goals. Multi Location Business. uChoose Rewards The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. Thank you! Legal Name Premier Financial Alliance, Inc. Company Type For Profit. Premier Financial Alliance sells financial products, such as life and annuity insurance. The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. Equal Housing Opportunity. Post your questions here and have them answered by people who are knowledgeable about all types of scams. January 12, 2022. Address Line 2 (Optional) Need Assistance? In fact, these two companies are growing each year without any illegal problem. 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. In response to Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration. That's not really a success story. Confirm Email *. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. Post your questions here and have them answered by people who are knowledgeable about all types of scams. Financial security and freedom is an idea that all seek. At Premier you will always talk to a person and not be trapped in a digital phone system. Broker at Premier Financial Alliance Seal Team. This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. I was recently invited to a company presentation my friend was telling me about that he's a part of. In addition to covering that, today were also revisiting the original 2018 Premier Financial Alliance pyramid lawsuit. Once they pay the $125 membership fee and buy the Living Life IUL policy, Premier Financial Alliance associates are pressured to recruit and sell the policy within their network of friends and family members, typically from the same immigrant group. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. I actually have heard of this company for 3 years now. For 2 of the years, I was trying to research and see what they are all about. So I dont know if this is all just rival life insurance companies trying to tarnish the PFA name or whether the company itself is really just another MLM scam. If it's through recruiting, it's a pyramid scheme. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. Serve your client, Serve your team, and required always put other people first before. Check r/antiMLM - they got you covered, since this clearly appears to be an MLM. Internet Explorer 11 is outdated. 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. If you think someone is trying to scam you, this is the place to ask about it. As I learned more about the product, I see HUGE companies like World Financial Group, AIG, etc. Their three pillars- knowledge, power, and success- are a major part of what makes Premier Financial Alliance the longstanding success it is today. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. Disclaimer | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by iPipeline, 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph: 402-423-5002 Ph. But what if you could turn that idea into your reality? Awesome. In addition, the PFA agents receive a commission when they recruit a new affiliate. We know our agents put in the time and effort to help their clients and feel they should be compensated for it. Are you making money by recruiting people to sell whatever it is they're selling? Copyright $125 is a one time fee for website up keep since you will be using it often for business. Life Insurance. To join PFA, you have to pay a non-refundable amount of $125. Our associates are supported by a first-class team that is as passionate as you are. Worse, if its proven to be a fraud, your name might be dragged in it, too. What Is Premier Financial Alliance About? From pre-sale support to post-issue customer service we strive to give our agents to tools and service they need. I joined Vasiliy as a writer for Best Lifetime Income blog. they never personally agreed to PFAs AMA. As an innovative leader in the financial industry, PFA has continuously transformed people's. I believe and know now that PFA has the superior product. This tax season with discounts on tax solutions that save you money, time and stress. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". On May 6th an initial case management conference for both cases was held. Our access to top level contracts from our carriers allow us to pass on to our agents some of the highest payouts in the industry. Also if you follow their system, you actually get reimbursed what you pay for, which is crazy to me but I appreciate it. ", To be able to double my income in such a short period of time is something I never imagined I could do. Premier Financial Credit Union Mobile Logo. Call us at (920) 898-4232. If they are scam, both company will be shut down by government and insurance industry already. That being said, its important to do a background check before joining a program; let alone buying a product or service to avoid being scammed. A different approach: Life insurance you don't have to die to use. 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. Anyway, insurance, from the word itself, means guaranteed or assurance. As per a July 1st order however, the hearing was continued till August 20th. 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. In our review we found an astonishing lack of information provided to potential PFA retail customers or indeed, whether retail sales were even possible at all. If you pay for them, you ruin your only profit line. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. This is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. 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. About us. From our products and services to all the good we do in our communities. We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. Having operated for some thirty years, as a result of PFAs business model the lawsuit alleges. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. The two Californian cases Premier Financial Alliance is currently defending are: Both cases are proposed class-actions and were consolidated by court order on April 16th. At Premier you will always talk to a person and not be trapped in a digital phone system. They messaged me a handful of times after but I've just been ignoring them. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. They are the cry babies and whine about not getting good hand delt to them. If they are scam, both company will be shut down by government and insurance industry already. Beneficial Ways To Diversify Your Investment Portfolio, How To Increase Job Satisfaction in the Workplace, 5 Strategies for Creating a Memorable Business Card. In this company we all help each other. However, if I were to choose an insurance company that Ill become an affiliate with, PFA will not be on my list. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. Perhaps, this is a strategy so interested individuals will reach out to them directly in person. 155 Kapalulu Place, Honolulu, HI 96819 They are obviously doing something right. Do I smell something fishy? Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. PFAis leading the way in the cause to educate Americans about the Living Benefits story. For someone who have researched and now in the company, (granted, I am always keeping my eyes open for anything I don't feel is right) but I don't see anything wrong with it. Is Premier Financial Alliance a Pyramid Scheme? You can also subscribe without commenting. You get set up with a trainer, get a product and compliance education, and learning the turn key system. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. Lost Card. To actually learn it, knowledge it, not just be told by other people. While there really is money in becoming an insurance agent, and by that I mean massive commissions, the legit IC Ive seen compensates their members for selling their products. in many downlines, there is a sad litany of downline reports reflecting that persons have made their initial payment to Defendants, and premium payments on the applicable insurancepolicies, only to discontinue payments upon realizing the business is impossible. Premier Financial Alliance Seal Team Business details. You can check more insurance companies here. I know most people are confused about how it really works and thats okay. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. The company give 30% commision because the money not from them but come from the clients money. Knowledgable and experienced mentors with you every step of the way. If so, seeing how it sounds like he was still alive, he might have sold the insurance (at a large loss), using the remaining money for his urgent bills, and now have no insurance any more. I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. So, youre looking for a source of income that wont put your name and money at risk? Is Premier Financial Alliance a pyramid scheme? The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. For over three decades, PFA has provided thousands of people from all walks of life the . June 2018: A class-action lawsuit was filed against California-based company Premier Financial Alliance, along with its founder and several top promoters and National Life Group Insurance, for allegedly operating an illegal pyramid scheme. To learn more about Premier Financial Alliance and how they can better help you to reach your financial goals, be sure to follow the blog and check out the website. This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. 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. Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. The trick to MLM is to sign up underlings that can pay the fee. Btw I just join couple a week ago, after I made payment $ 125, money no refundnable. I hope you enjoyed my Premier Financial Alliance review. They are a MLM (Multi level marketing) bassically if you joined to make money then you just lost your money because it is highly unlikely that you will ever make it back. The wechat (a popular social networking platform), instagram,facebook, and twitter posts made during the class period boast of luxury vehicles, grandiose trips, expensive fine dining. Disrupting the financial services industry. PFA, WFG, Amway they are all big successful company using this system. Both claim to have been deceived into believing PFA was a legitimate way to make money. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. However, I wont blame them because despite the product being legit, there are companies that use it only as a front for their real agenda -- scamming people. Contact Information. theYear = now.getYear(); Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. However, this is not the case with Premier Financial Alliance. So interested individuals will reach out to them directly in person lawsuit, Premier Financial Alliance be... Looking at the case docket, Premier Financial Alliance messaged me a handful of times after I! A business is all about this was again based on a clause in the 2018 is! To MLM is to sign up underlings that can pay the fee see. Lead to it being denied for the same order also stayed the case docket, Premier Financial.... And see the opportunity as an upfront scam, Inc. company Type for Profit told by people... 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