He then had a slide showing the tiers and potential earnings. ?, Dont you want enough money to rent a space for your classes? Made $100 in a single month. If the only business positions are in Georgia, what do they expect people to believe they would be doing where they live? BrokerCheck - Find a broker, investment or financial advisor However, Im wondering if that might be an acceptable trade-off for me, if this setting offers the gradual training and the part-time opportunity (at first) that Im seeking? Now YEARS later Im getting calls from them. Now that I have read the previous comments I will not be wasting my Saturday morning to interview with PFS. I just went on a interview yesterday June 22nd He did butter me up, but Im no fool and and the fees were ridiculous, didnt make sense. If you could imagine all the evasive answers and asking me if I want to do an application. Be careful and good luck to all other job seekers out there! When she gave me speech about how they help people save money and so on, then she said are you ready to sign up for the classes? When I told him I am no longer interested he kept asking me why and then called me arrogant. People in MLM pay to play. At first I was very happy considering I was Highly Qualified for something, but now seeing all these comments just makes me sad. Financial Educator (Current Employee) - United States - March 12, 2019. . Pull out your phone. He then asked me to write down 25 people in my contact list over 18 and he would call them for me to see if they would buy insurance and give me part of the profit and get me started. She asked a few questions about my past work experience as well. No, I have never been a part of Primerica. Calling me rude, and saying other unprofessional things like LOL. It was a sales job selling the best cutlery ever but in fact it wasnt. I was ready to mangle both of them Im so fed up with these lames at this time. Multi-Level Marketing Businesses and Pyramid Schemes | Consumer Advice Wed discussed it before, and Id tried to suggest Vanguard for a 401k, as I was not familiar with Primerica. I may have broken his fingers and I shook his hand He started his presentation about the company, asking us how much wed like to make. I will say that the highest ranking person I worked with has now been involved with the company for over 30 years. Contrary to rumors out there, Primerica is not a pyramid scheme. I must add that I made the mistake of giving these people my SSN but it for before I figured out it was a scam. 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. Needless to say, Im glad I got out of that one. To all of the above comments and so called pros in the MLM companies, to each their own. I checked my watch. Yesterday i was called by a man who said i was referred by my best-friend josh, who was his cousin. As for the Author she seems to have ulterior motives and a chip on her shoulder regarding the company. Just before the session started I looked at the guest book and noticed that John had put his name beside most of the new guests, though 4 were a result of my resumes. I ended up going to an interview, thinking that it was with a company called Coldwell Bankers, since it was in the same main building as them. My friends husband was at least honest and up front about me in terms of selling insurance, which I appreciated. I also received a phone call from a guy who said had my name refered to him by someone. I got suspicious and ask if this is an mlm company (I dont even know why, well, I know a lot about mlm companies from the past). Something about honesty. All-in-all, aside from the financial advice that I found sound and pretty basic, it was a complete waste of time. 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. No one hands you a silver platter without some work. Keep them going with promises of big fat contact lists. I looked up Wallace Murphy with Primerica, it showed his picture and what he was about, but after reading this I will also be canceling my interview as well. Simple as that. I enter the building with a standard Primerica logo, inside its completely empty with only her and no receptionist. Primeamerica is a legit insurance company. Got a call from someone who said she was expanding her business in my state and is transferring from Texas and if I was interested in a business opportunity there. Important Mutual Fund Disclosures Of course that is enticing. Life insurance is a service, and just like any other service, someone can come along and provide the same service for less money. In the classic "pyramid" scheme, participants attempt to make money solely by recruiting new participants, usually where: The promoter promises a high return in a short period of time; No genuine product or service is actually sold; and The primary emphasis is on recruiting new participants. Would you like to travel around the world if you got rich? Will not be going to a sales pitch to get me to go do sales pitches to other saps. I didnt want to be rude to him with my best friend trying to work there but it just didnt sit right with me. Before they hire you and you begin training (with no pay during this period) they will test your aptitude for this kind of work. I Googled the address and found out it was Primerica. They are a public traded company but a lot of slime-balls are publicly traded and perform well in the stock market. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. I went 3 days ago and I had to give my info including social security number, but they didnt asked for a credit card. I got a random call from a guy name nico saying that I was referred to them and they have a job opening and I could scedual a interview for me and that I should come dressed business causal and come on time because he is a busy man. Sounded too good to be true about the money and needless to say thank-you to everyone here I will not be going. I focused on a plaque over Johns head as he bragged about his familys last vacation, noting his highest attained income splayed across it in huge numbers. Karma. A full 84% left prior to obtaining their insurance license. I went to all of the trainings thereafter, but it was the most painful thing to do. I did not quite have the similar negative experience as many posted, but mine was similar. In another spot on their website, they suggest that part-time agents may expect to earn about $500/mo (which is also $6000/yr). Primerica, Inc. is a financial services company serving the middle-income market offering term life insurance and strategy for investments. I received a call on Wednesday from a classmate she just graduater from high school and im still there so she told me that she works for a growing company but she didnt say which company it was she just asked how old i am and if i was looking for a job as almost every high school student i am looking for a job and i have applied in so many places but they havent call me. He had been eyeballing me since I walked into the store. Well! The only logically answer as to why this trend has been in effect for years is that Primerica must benefit from this tunover. The women who spoke on their first visit asked what Im looking for in a career and mentioned I was very impressive with customer service. I dug and dug until I found PFScareers.com which is the new recruit site. The man on the phone was not the man at the meeting. 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. I said okshe continued to talk balg blah blah. Now thats a successful company, but many fail. I will not be following up with PFS. They provide various types of insurance, debt management, financial investment, and credit monitoring services. Just got a call from a Primerica recruiter, who set up a alleged interview for tomorrow. The early investors actually get paid those big. 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. I googled ahead of time, but only really to find the place, which, like everyone elses experience around here, was on the outskirts of town in a rented building. Life Code, the real world. He told us the incredibly vague story of how he managed to get one individual from $20,000 in credit card debt down to zero and then into a mutual fund with a 9% interest rate. Ive been disabled for four years and i finally got a job release in feb 2014.Since i had to change job careers,its been hard drawing my former job skills to be applied to another field.Im currently in a job program called DVR(from the department of labor)in the state i live in.For the past 2 months,ive applied to many jobs thru them and gone out of my own with little success..lol.Ran into alot of companies like primerica.So now before I have the interview with any marketing/sales company,I do tons of research on the computer.Had a person contact me from bankers life and casualty say that im good to be part of his team and told me to come to his office at 6pm for the interview.Only to find out that its a presentation with 14 others,10 left after an 1 1/2 hour presentation(only surpose to be a 40-mins).i was one of the 4 and he liked me and set up an second interview.Took 2 weeks to get back to(and only got set up due to my ongoing calls to him for it)me and set up the meeting the next day-they did the same thing as primerica only they actually had a call list from the do not call listings they use for their referrals for me.A $99 dollar fee plus $149 for inside training upfront.I said NO and that was it.My DVR supervisor gave me a reference for a job that turned out to be a primerica rep.I had to follow up this time and called her-she contacted me that nite at 9:30pm(odd time)and told me that her supervisor would call me tomorrow-he never did.A week went by and out of blue the primerica rep called me and said that she was sorry about her supervisor didnt get back to me.But this time i was ready(i did my research and found tons of very bad reviews and some good reviews from primerica corp. officers..lol lol.When we talked,her excuse was that her supervisor is better to answer my questions and would do so when he calls.He hasnt called but i already know the truth(on the surface and the deep inside shadly truth)about primerica-what they represent and who benefits from their company.I need a job now and need money soon before im forced to live on the streets with my wife.I cant start a new position on empty promises and payment upfront to pay to go to work to make alittle money in the first month after i work 80 to 100 hours a week..lol.Doesnt make sense and its just a waste to put forth lots of effort,time,gas,sweat and patience to make little money just to barely live onlol. (TWO not even 50 years old yet!) He asked me for my number so that he may call me later, I provided it, and then after he decided to instead just ask me to come see him tomorrow. Its not a business, its a scam. No, its not defamation. He never mentioned an upfront fee, but if he does Im done with these. Just a bit of background I work as a sales floor employee at Lowes so I was pretty skeptical to begin with. 4.) The meeting starts after like 30 minutes past I still dont understand what I would be doing so I start asking questions about the company and I was told the company name is Prime America and how there is no website but that the company is one of the biggest companies in the world. As far as positions, I havent even met you yet, how could I know what youre qualified for? Listening again.. A very tan/slightly burnt, attractive young 20-something came in and spoke to the receptionist for a minute about her Florida trip and went to the back where I could now see more middle-schoolers, all dressed like they were ready to model for a Kohls back to school sale flyer. Please look up elizabeth warren cornering the president !!! I dont mind. But he had no idea who. I am sick thinking that I signed something that I didnt read, gave her my social security and address. Primerica has the BEST products for the least amount of money in the industry! The difference was the leadership at Cutco wasnt as slimy as the women who interviewed me when I got introduced to Primerica. I have another so called meeting tonight with him. They guy even scratched his back while slumped into his chair. There was some meeting in another room which cheering and whoops could be easily overheard. Ive been to interviews and left without a job. Um And these were my thoughts. The graph had 1 gent at the top and every subsequent tier had exponentially increasing members making exponentially less money. Well he cleared my somewhat strict prerequisites and I accepted his request. He said there would be training and thats what my friend was getting into. Recently a dear friend of mine got roped into becoming a rep on the premise of hed be doing families a great justice helping them get their finances in order and providing them with term life insurance. He proposed some vague idea to me one day and set up a visit to discuss. Some of my friends work for Primerica and do VERY well! They prey on our natural vulnerabilitis and at anytime any of us can find ourselves being lured in. Look this up on Wikipedia, the very unusual and very unique model that Primerica uses. Theres so many good jobs out there- dont go this route. After dodging her for a few weeks I finally agreed and ate enough of the steam table food to be polite. I was unable to find much of anything online until I got the address for the interview. As they were talking I was looking up scam reviews and saw 160 on another website. DIV Rep, 60%.wait there is only 50% left over, okay then what does math tell us.you get it yet..they only get 50%, (PYRAMID ENDS). I feel really bad for them. Now, I did not get asked to pay anything and was told that Primerica would pay to have me licensed, but I was also told to come back for an open house to learn more about the company. I am glad that I followed my instincts and didnt end up wasting my time. I would suggest insurance agencies and companies like Edward Jones. 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. Then she texted me and asked to meet her this week for coffee. Primerica is secretive because thats what all MLMs do. Today the husband called and said his wife said I had people skills and was very vague and I had to really ask what was the company after the asked me to come in for an interview. and there was one review on the place, a 5-star rating with no comments added. I said ok and never went back. MLM is not a job. Reading that it is a Citibank subsidiary was a surprise; that products and services are not the best value is in direct contradiction of what was said as I recall. What professional business calls on a weekend? I posted thatI was looking for a job and got offered an office position. When I asked about the specifics of the job, they were incredibly vague and spoke super fast. A former classmate of mine saw my Facebook post that I was looking for part-time work and called me. Another flyer announces two meetings. They asked my husband and I for $99 each to set up (pay to be hired) and wanted $156.32 cash to start our life insurance said our kids would automatically get $135,000 if we even die today, This bleepity bleep bleep!! Something like, I really dont understand why you felt you had to lie to me initially. Like, you might be able to trick them into showing up without knowing the company name, but then what? It occurs to me that if a person would want to try this kind of sales, then it would be just as easy to sign up with a major insurer such as Woodmen or Northwestern Mutual, NY Life, etc. And this made me laugh what he said next. It wasnt until i read all the posts on this blog that i truly realized i was being bent over that corner desk of his because so much of it made sense. So then i asked him thru Facebook and he said no and now im here and im so glad i am. I shook my head, frustrated again, starting to wonder how long it would take til I would really succeed at this. Products: Healthcare, Daily Lifestyle, And Nutrition Value-Based Products; Investment: To get started with Herbalife distributor, you'll need to purchase a starter kit worth $94.10 Commission: 15% to 50% of each product you sell. Sigh.. theyre so good at manipulating, or leveraging as they call it.. they create false demand and artificial scarcity all the time. I am suppose to have an interview tomorrow as well. You can get a reasonable life insurance plan as a AAA member and should deal with a real bank or well known investment firm with your money, people! I just had a very recent run-in with a Primerica recruiter. I finally ended it telling her Im sorry but no and she said thank you and turned her back on me. Probably not the perfect business, but everyone I know needs to improve their financial situation. Well, I didnt stick around to find out if it would work or not because I stopped going once me and my mother got a bad feeling about the company. . At least then they can make informed decisions. You should be ashamed of yourself for writing an article as false and untrue as this one. I already know about Prime, as this isnt my first go around with them or companies like them, so I am just going to humor them and then as gently as possible (not) let them know this is not for me. An mlm opportunity is not a pyramid scheme when it promotes and sells products or services, not just memberships. 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. And my husband just hired a newly licensed recruit to help him get his new business started but has negotiated a portion of that agents earnings as compensation for helping him get himself established AND this new agent will also be splitting his fees with the broker. He handed me a flyer that said Primerica was waiving licensing and application fees for active duty and veterans in November 2018, but I cant find anything on it on the Primerica website. In a legitimate insurance agency, there is a general agent with agents under him or her. He then asked if I, personally, was keeping my career options open and I said yes. Destroyed my friendships with this job. Financial Advisor (Former Employee) - Fort Worth, TX - November 23, 2022 I gave him my actual SOC. 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. Average salary is 6K per year less than McDonalds. He collects his clients resumes and he did it in front of me. My own confidence in my judgment is severely shaken. Again, I am a little hungover and I figure well, so what. I thought the man I was working one on one with , who was soooo nice was helping me set up online banking , which is what he said , but in reality he was going into my account taking money out which he said they were not gonna do unless I signed up for the classes at a later date. this is defamation. Some are a couple miles down the road and some are across the country or across the ocean to the most fantastic scenery or landmarks you've ever seen. I just advise that people dont get that education from Primerica or any other MLM. Its a good thing Im not stupid and always look up companies before I contact them. As of now, im going to have my trainer (by the way, he always stays in touch, maybe was blown out of the water by some of my morals. They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. In addition they needed close contacts, many may know as the warm market. Selling Insurance to People Selling Insurance, a Pyramid Scheme Story 30+ years. Is Primerica an MLM Pyramid? Or Legit 2023 Opp? - Matt Zavadil I know of plenty of people who need a job but now I dont think this company is legitimate despite the nice phone call. I told him I was talking summer courses and I really wasnt looking for work but I actually was (does that make sense?). Just went to one of these sad displays lst night got dragged in by a friend. Only said that his company was part of the stock exchange and made more money than Yahoo -_-. Why keep this guy waiting, wasnt that terribly unprofessional and disrespectful? A few evenings ago. I have an appointment on Monday. Im not joking whatsoever. No, Primerica does not offer services that justify a higher price. I told her that I would tell my friends about it but she kept pestering ME to work for her. They provide financial education and sell products through a network of individual associates. Then she proceeded to ask if I had a Facebook and dont I have friends on there and I told her I dont want to ambush anyone with this and she said they may thank you, I told her no and she said what about in your phone, you dont have anyone. Primerica "pyramid scheme" Reviews | Glassdoor Suck my ass. The TRUTH About Primerica - Scam Or Legit? - Duford Insurance Group Joe get Sally a $800 annual premium, (depending on your team members rank)(entries are REPs 25%) Joe will earn 25% of 800 =200(ONLY ONE TIME,THIS ONE TIME), (PYRAMID TIME) the remaining flows up the tunnel 75% (depending my rank) REP 25%, $200. I think not! Commentary on fraud, scams, scandals, and court cases.