The examples in the booklet are for Bob and Susan Smith, ages 33 and 35. He was very vague. Youre just a bunch of lazy, whiny children. Hey Alex, this isnt the first time and wont be the last time a crooked company has rung the NYSE closing bell. The agent was a very nice Italian-American woman who actually knew something about financial services. He kept messaging me even if i wouldnt give him a reply and somehow found my number and keeps contacting me. Called a local Primerica agent in the spring of 2011. I am promised that PRIMERICA will essentially turn me into a hedge-fund manager for Charles Schwabb in time. I have an acquaintance from Facebook who floods my news feed daily with this Primerica crap. I think youd do well and Id like to have your number and have my secretary call you to set up an interview. I am sick thinking that I signed something that I didnt read, gave her my social security and address. but that neither here or there.) I therefore come to this upcoming information event with a favorable impression of the companys products. not a business I filled out the basic information and then realized they asked for social security and began to question him. People who work jobs get paid. In conclusion I think its awesome that they make 30 million a year off active reps paying fees, from a business standpoint, of course. The interview ended there. So if you keep your premiums paid, your family will receive the benefit. Now I also understand more about success too. She said my educational background would be beneficial for helping middle class people., I was really confused about what she was calling about. I feel so used and as they teach JUST A NUMBER ! He seemed so angry, I thought. They insisted that you MUST bring a person each informational session, often times calling you out in front of the group. Conversation went out and he tells me he likes my personality in which Ive been told many times over. Like many before me, I posted my resume online for an employment opportunity. Several times she mentions she is a Christian, in that mostly innocent way Christians sometimes do to feel out a stranger, trying to see if theyre on the team. Get the BLEEP out my house before I rip our your weave!! We hardly talked about me and my background. Thank you for the heads up!!! Still, barely any information given. no phone. I just received a call yesterday and had my doubts about the process, so I immediately proceeded to research PFS and found this article. I got a call after meeting with someone from the workforce. I arrived at what was clearly a low-cost rental space, with walls covered in transparent attempts at making their company seem legitimate meaningless trophies, pictures of random people posing in groups, etc. They are in fact the Primerica guys, lecturing the invited people to pay them $90 to own a business license and the usual multi-level marketing stuff. I am glad that I followed my instincts and didnt end up wasting my time. PYRAMID SCHEME. Thanks to all for the above info. not something good to be involved in. I then told him Im not interested. I gave them my information, and even the information from one of my credit cards (which Im afraid that they will still use even though Ive already called & told them to shred/dispose of the information!). Hey guys I need some help I wish I saw this before the meeting but I just got home from it. Thanks for this post. Question Whole life insurance is not fraudulent. After all, he was the successful one here of the two of us. He didnt think to clarify my concern so I cancelled the interview there and then. It was fishy at first, but I thought the best of it. I am not against commission based jobs and making money. So this got more fishy. It must be weekly, I thought to myself, no way thats monthly? I told her I was looking for a salary based job opportunity and if she couldnt offer that, then I was cancelling the interview because her job offer didnt fit my current needs or interest. What should I do? Here is another good read that breaks down how much the corporation makes just from recruits, and reps: They use the classic BAIT and SWITCH for everything they do. Thing is I have a nose for pyramid schemes and multilevel marketers, so my radar was going off right away when I heard all the generalizing. 1. i dont get paid to recruit people, i COULD get a % of what they CAN make from what their clients get for premiums, EX. I was there in the bulding today just asking ppl some jobs & met a young lady going for interview & I ask her if I can follow her to know more about the job & she was nice to me to let me follow her. They contact the job seekers with an offer of an interview for an opening. 4. Its not the money, but once I left and processed everything it seems they pressure you to sign up and recruit other people. I dismissed the thought as finally, after several minutes, John opened his door and beckoned the man in, intruding himself again. mail in a letter with your info, we will give you a call. I felt like he was trying to get me as a customernot interviewing me for a position. I had started in 1984 and it took me until 1990 (six years) to make RVP. I knew that a job selling insurance wasnt really up my alley, and my intention was to leave the first opportunity I got, but that opportunity came when they asked me to put down $99 for an investment licensing class. Yes There are 76 helpful reviews 76 No There are 37 unhelpful reviews 37. I tried to be professional and somewhat upbeat but also clear I despised working there. Because MLMs are pyramid schemes in which 99%+ are guaranteed to fail. He asked me to go for a job interview somewhere in a Manhattan building. The guy I did the interview with was bragging about how much money people made and that turned me off even more. When I looked up this company, I saw that they had an aggregate rating of 1.6 stars out of 5 on Consumer Affairs, and I felt simultaneously relieved that I didnt let them get my bank information by putting down the $99, and horrified thinking that I could have been among the many people that this company had roped into their scheme. Cons. I would see this slightly desperate look in her husbands eyes every time he asked if I would be interested in joining. And finally the companies they represent (the likes of Met Life, Lincoln Financial, Equifax). And many join daily as new agents. Georgia Insurance and Safety Fire Commissioner, 2 Martin Luther King Drive, S.W., 716 West Tower, BBB Tip: How to shop for financial services, Need to file a complaint? What a waste of one hour, these scammers will not be at my house nor will I have contact with them again. Well he cleared my somewhat strict prerequisites and I accepted his request. Instead my thoughts were screaming through my mind.. really, what was John doing in there?! He told me to come in for an interview, and, sensing some possible sketchiness, I had my boyfriend come with me in case someone tried to rob me of an organ. You wouldn't want to associate yourself with them, especially when fully aware. I had a bad feeling so I googled the address. Im canceling my interview for tomorrow. The recruiter may actually be vague in most cases when trying to get people to come check out the company but that doesnt mean they the information you will get about saving for retirement, etc is false or lies. I have reviewed their annual reports (available online). As a matter of policy, BBB does not endorse any product, service or business. I was in Primerica back in the early 90s when it was called PFS (Primerica Financial Services). The VP Mr. My friends husband was at least honest and up front about me in terms of selling insurance, which I appreciated. They are a scam! Im looking for a job, and someone who lives near me tried to recruit me to this. He called me again and I ignored the call. MAIN ADDRESS. Im an accounting student and will be taking finance courses in the near future so I didnt mind working with a finance company. Law sued and primeica paid millions of $ to keep it dl . At first I was very happy considering I was Highly Qualified for something, but now seeing all these comments just makes me sad. Also this was my first job interview, as Im a student. They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. She told me that someone referred me and thought very highly of me. Thats just rude and disrespectful. I said i would decide on my method of payment. I am grateful for the posts by so many and I am glad I cancelled. Thanks for your reviews, Wasting time is the #1 sin in job hunting. He set me up with an interview with the lead, and when I went in, it was really no interview at all. Wow, I have an interview set for this Tuesday, needless to say I will not be going to it! He told me he has to go through clearance and apparently he is abusing this priviledge. I thought Im supposed to be learning here? I was the first one there so I put the lights on and tidied up a bit. Eventually he told me that he was not offering me a job, so I was even more puzzled. Being lied to in order to get the person in for something that isnt even an interview is wrong, and therefore the person is a victim. Since 2009, Primerica has recruited 1,502,173 people. 2. Wed discussed it before, and Id tried to suggest Vanguard for a 401k, as I was not familiar with Primerica. 3. They provide financial education and sell products through a network of individual associates. I was wearing a ring on my fourth finger (its the only finger it fits) and she asked if my husband had a job, so I went along with it and said yes. its a mess! * Isnt it true that a lot of consumers arent sophisticated when it comes to insurance, which is why there are so many scam artist out there taking advantage of them? Many, many years ago, when it was A. L. Williams, I was approached, and even attended one of their informational sessions. lady called me said I was referred to her?, scheduled an interview, Something told me to google what little information I had, found your blog! The conversation gets deep, takes philosophical turns. Thats how I found this site. The lead asked me for $99 upfront, which I did not have. For 5 years, Primerica has been paid automatically from my bank account. same here. NOT TRUE!!! We finally found David. Its performed nicely and Ive never had any problem with the company from my standpoint as a customer. Their 6 digit earners boast is misleading as its a cumulative, not annual figure. From then he sent us to different people to ask us some questions. Again, I figure worst case scenario its a connection. That fact in itself should be an embarrassment to any organization, requiring immediate action. She asked a few questions about my past work experience as well. They have no jobs to offer, despite making it seem that way. After I finished that, David came in and started his pitch. Like the $1000-$2000 a month for 10-15 hours a week? concerned . If this is not deceptive, what is? The woman who spoke with me on the phone came to the front and asked for me. Simple as that. A pyramid scheme does not refer to the layers of management that you see. So, I was interested and I REALLY loved the couple and was glad to see and hang out with them after so long. So how did my interview go? Suck my ass. Hey every body, i have a guy friend who works at a local health food store, he started telling me about 6 weeks ago about this new business he was recieving training in, he connered me today at the store, and asked if i wanted to sit in on a meeting to see what its all about; well i new something was up when every one was all cheerfull and glad to have me there, i lost count how many people said that to me in the first 20 min, Then came the brief infomercial about the exotic trip you can go on if you just earn enough points, every one kept talking about all the money and free time you can have fro your self, but never once did any say exeactly what you do to actuallu earn any money, oh ya then there was this manditory meeting you have to attend 1200 miles away, and wouldnt you know, they started right with telling every one if you did not make this meeting you simply were not commited, Wow.. Any way after about 45 to 50 min of this i told my friend i was going to leave and research this out online, you have no idea how good it felt to walk out mid presentation, i bet all eyes were on me you what i missed riding my bike tonight because of this.. Dont waiste your time people it is a MLM scam.. Thank you! What a joke. He had his upline with him during the visit and presented me with a PowerPoint presentation. I told him thats respectable and that Id let him know once I had a more sound judgement of my availability. Action Affect! Primerica is a leading financial services provider that has been in business for over 40 years, is publicly traded on the New York Stock Exchange under the stock symbol "PRI", and is rated A+ by the Better Business Bureau iii. What I found was that most people dont want help with their finances and many (foolishly) refuse to spend money to own life insurance. Anyone with money who makes a good living does not discuss that in open form with people at a so called job interview be smarter than the rest of us , cancel , complain and dont let them take advantage of you. Wow was not expecting it to be such a rabbit whole. My only concern now is her calling me up again. Pyramid schemes are illegal businesses. Tony Thanks for your concern. Indeed, I was invited and liked. Almost made it, but nope! Thanks for the post. They are masters of manipulation, hyping you up to be a crusader for the middle class. He did have an office, yes, but that doesnt necessarily mean he made the money to keep it afloat. My current position is a dead-end job and leads nowhere so I was interested in a promising new opportunity. I want to get out of there now. (their 1.5 years, and 1 week old) yes a lot of this sounds and very well could be all bad. After, he said I needed a state license to sell insurance and its a 32-hour course that costs $124 deposit. John breezed through the door and introduced himself then instructed the man to sit down for a few moments; hed be right with him. I did find it funny though, because it was clear he was representing an MLM based on the fact that his business cards didnt have an actual company name, used a generic Vistaprint background, and listed him as a Financial Coach or something like that. Yikes. No, I never joined Primerica and walked away. The stock in Avon has dropped as well, below $10 a share. EX. 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. After reviewing those comments I will not be going for and interview. 2023, International Association of Better Business Bureaus, Inc., separately incorporated Better Business Bureau organizations in the US, Canada and Mexico and BBB Institute for Marketplace Trust, Inc. All rights reserved. MLM is not a job. Please look up elizabeth warren cornering the president !!! OUCH! Wasted my time. Anyway so disrespectful will not be going tomorrow and glad my parents raised me the way thy did because I couldve signed my life away. NO legitimate for hire position will require the applicant to pay for the privilege to work for the company. We need educate general public ! As for the Author she seems to have ulterior motives and a chip on her shoulder regarding the company. Does anyone know of other companies besides Primerica that are employing these same tactics? They asked about my work situation and I told them that I got a job a few months ago. MLM is: So me and my friend were at the store when a guy randomly came up to us to talk about his wifes company. If the only business positions are in Georgia, what do they expect people to believe they would be doing where they live? 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. Similar situation I thought why in the hell would a RVP of a business contact me, someone with no experience or info out there advocating I have any in such a business and/or roles, and on Facebook!? Multi-level marketing is not a business. I knew to avoid them but because of how fast she mumbled the name i didnt research. She gets so defensive when anyone questions her work. 1 PRIMERICA PARKWAY DULUTH, GA 30099-0001 UNITED STATES . I stopped giving out leads once I realized that I wasnt getting paid at all. Immediately they sit down and start talking about investing in life insurance for our kids (whom are all under the age of 5, and was around at the time) Talking about prices and growth , im interested, fail! There are bad people in ever field of work, the financial industry is no different, which is why they have strict rules in place. I stayed through the interview anyways, fully knowing that I was already going to reject the FAKE position they had, but wanted to keep my commitment to the interview,and see for myself what kind of tricks they would verbally try to pull off. I asked, how can I be that guy? (pointing to the top of the pyramid). A large black SUV, an Excursion or an Escalade, pulled up next to me and a rather dapper-looking kid about middle school age got out as his mother sat in the parking lot, engine off. Out of curiosity, why not expend the same energy to become successful at something you love and be at the top of YOUR pyramid and opposed to being at the bottom of Primericas? I set up the interview, on memorial day, not knowing the name of the company. Especially because it just didnt seem necessary. Absolutely disgraceful that there are companies like this out there. Its just that the whole experience left me somewhat unnerved. Later found out this company had sold my sister, whos a single mom, a massive EXPENSIVE insurance policy. NOT the other person. Im just worried if I tell him I thought about it and wouldnt want to proceed, he has basically ally information, Im in the same position as you i dont want to recruit others and im scared with the info they have. A pyramid scheme is a business structure that pays more for recruiting new members or distributors than it does for selling actual product. The hard sales pitch, corporato-cult speak, and grandiose promises are like a jackhammer to my sodden, achey head. Googled my way here. Well talk about me and what I do later. Um, alright. Once again, most people need financial help to get where they want to be. Table of Contents Pros: What I Liked A representative's schedule is flexible. There were a ton of empty chairs and he said there was just a big sales meeting earlier. Mr. John A. Addison Jr., Co-Chief Executive Officer. Or something. PFS Investments Inc. (aka) Primerica Financial Services. Her husband, a mechanic, got invited to a big fancy house and had dinner there. I did go to an interview with him his office was eerily empty, a dark, one-floor building that looked more like a conference center than an office space. The first 20 minutes started normal. When I called her back, she reiterated her voice message and went on to briefly discuss the position for leadership role for this company and requested to set up an interview. 90% failurethat is high percentwhere did you get that number? I was so flattered! I then proceeded to google the companys name and before I could type in the full name I saw Primerica Financial Services scam, immediately clicked and was led to this page. A man named Jack has recently added me on Facebook, first thing I check for with people I dont know adding me is their friends list, their About section and the consistency and validity of their posts to make sure theyre real and not some spam account. But one thing a lot of people never did was actually get any information from the company about what they actually do and how they actually help people with their finances so people can actually pay off their debt faster than they are projected to, and actually reach their retirement goals.
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