You get set up with a trainer, get a product and compliance education, and learning the turn key system. PFA has not persuaded the Court that any other factorscosts of litigation, ease of access to sources of proof, availability of compulsory process as to former employees or associates, etc.would favor transfer to Georgia. Come join us in our quest to bring financial prosperity back to each . Donald Trump and Robert Kiyosaki recommend it? Stay tuned for updates as we continue to track both cases going forward. She used that money to pay for her treatments. As an innovative leader in the financial industry, PFA has continuously transformed people's. 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. MLM is legal business system that has been around and proven to be very efficient. Email *. 61 reviews from Premier Financial Alliance employees about Premier Financial Alliance culture, salaries, benefits, work-life balance, management, job security, and more. Whether retirement plans, funding your childs college tuition, or having enough money in the event of an emergency, these are the types of decisions that should be made sooner than later. Lost Card. PFA and WFG are both legitimate company, not a scam. Learn More . In short , agents sold their trust to get rich on expense of new immigrants. p.s. Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. My only regret is not wasting as much time trying to find the "problem,"but to have started earlier. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. If you have fallen for a scam, you can post your experience here to warn others. Online, offline, email, or postal. 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. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. As per a July 1st order however, the hearing was continued till August 20th. 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. Also if you look and really think about it, MLM is everywhere. 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. if (theYear < 1900) {
The goal is to provide you a reliable resource you can use to decide whether the opportunity is a scam or not. $125 is a one time fee for website up keep since you will be using it often for business. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. 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. This was again based on a clause in the AMA, which lead to it being denied for the same reason as arbitration. 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. 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). Once they pay the $125 membership fee and buy the . While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. PFA agents or the PFA don't make money on $125 fee. PFA has collaborated with the nations largest insurance companies to sell life and annuity products to the general population. $149. On January 22nd, 2019, the court denied both motions. Btw I also paid my friends $125 cause he didn't have it at the time. They are obviously doing something right. Founded in, 2021 headquarterlocation.com. Welcome to My Premier Financial Alliance Review! Its hard, but once you make it, understand it. To sell the financial-success promise, PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, and AJW flaunt the wealth of the highest-ranked Associates and those few insiders at the top of the pyramid, as examples of the riches that await new participants, if only they will work hard enough (i.e., tirelessly recruit new Associates). Premier Financial Alliance is, according to the case, a "suspended" private organization that maintains offices throughout California and Georgia; AJW Productions is the alleged alter ego and money collection entity of the individual defendant described in the complaint as the "chairman" of the pyramid scheme; and If recruitment stops, so does your profit. Press question mark to learn the rest of the keyboard shortcuts, http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam, http://sajha.com/sajha/html/index.cfm?threadid=111838, http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, http://www.slideshare.net/MSchafers/why-robert-kiyosaki-and-donald-trump. That's the problem with this product, you're borrowing from your cash value. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. I know most people are confused about how it really works and thats okay. 1300 Peachtree Industrial Blvd Ste 4210, Suwanee.
While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. As far as I know it's a legit company. From our products and services to all the good we do in our communities. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. In this company we all help each other. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. It protects from death, accident, critical illness, or even theft. What Is Premier Financial Alliance About? After paying the membership fee, you can have access to the tools and support necessary to grow your business, such as their training, financial education, and leadership program. Financial Calculators. Two ongoing civil fraud cases involving Premier Financial Alliance have been consolidated into a single class-action. Online, offline, email, or postal. 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. Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Awesome. I also love to write; when not working as a content writer, I create blogs about skincare, makeup, motherhood, and digital marketing. 155 Kapalulu Pl Ste 289. This is my experience and I hope you got some thing out of it! Easy account access on the go! This includes the tools you need to grow your business, such as the PFA email system, marketing system, and business monitoring system. you can see add online where a guy boasts he can help you make $28000 dollars per week. Financial Services. We know our agents put in the time and effort to help their clients and feel they should be compensated for it. 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. Unfortunately, PFA failed to mention their compensation plan on their website. I've seen with my own eyes, this company change lives from consumers to their employees. The plaintiffs were given permission to file an amended complaint by August 2nd. Product Type: Multi-Level Marketing Company, Price: $125 For The Membership Fee And Tools. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. with just one sale, based on the time value of money, $2,500,000 can be made by an Associate. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. Applications must be postmarked by March 1, 2023. No compensation plan. uChoose Rewards All it says is that they are selling your dream but if I know, this is a way to attract people. Theres even a lawsuit filed against them by prosecuting attorneys in June 2018, claiming that the brand has never sold any of their products, in this case, insurance. Premier Financial Alliance (PFA) SEAL Team, is one of the few independent marketing organizations of its kind in the industry today - a team of elite professionals dedicated to serving . According to the FTC, if the source of your income heavily relies on the number of your recruits and not on the sales you get for selling their products, its a telltale of a pyramid scheme. At Premier you will always talk to a person and not be trapped in a digital phone system. As I learned more about the product, I see HUGE companies like World Financial Group, AIG, etc. A different approach: Life insurance you don't have to die to use. January 12, 2022. 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. "I love PFA because we create positive change in peoples lives. The decision to deny reconsideration was based on PFAs. The lack of retail sales clearly suggests that its a pyramid scheme. Notify me of followup comments via e-mail. I dont like MLM. PFA, Carroll, J. Wu, R. Wu, Hong, Zhang, AJW, by their authorization promote the pyramid scheme and make misleading claims of financial success. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. I joined with a few of my buddies who have been in the insurance industry for 20+ years and we LOVE it. 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. Premier Financial Credit Union Mobile Logo. If it's through recruiting, it's a pyramid scheme. 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. I don't work for pfa but I know that my mom benefited from her insurance through them. Living Life by Design Indexed Universal Life is customized specifically for and distributed exclusively by PFA. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. Optional riders are available that allow you to access a portion of the death benefit while you're alive during qualifying health events. As long as you are willing to learn about it, I dont see any problem at all. Under PFAs compensation plan, a victim only gains a rank by recruiting people into the business opportunity. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. Their . https://behindmlm.com/companies/premier-financial-alliance-fraud-cases-consolidated/, https://behindmlm.com/companies/premier-financial-alliance-denied-arbitration-and-venue-change/, https://behindmlm.com/companies/new-premier-financial-alliance-lawsuit-claims-asian-immigrants-targeted/, https://www.mitbbs.com/article_t/SanFrancisco/34629529.html, https://behindmlm.com/companies/premier-financial-alliance-classic-pyramid-scheme-lawsuit-filed/, http://www.wenxuecity.com/news/2018/07/25/7469956.html, a 2018 suit filed by Rui Chen and Wenjian Gonzales, alleging, a 2019 suit filed by Youxiang Eileen Wang and Biyun Zong, alleging Premier Financial Alliance. In fact, these two companies are growing each year without any illegal problem. Their tools lead you to a customized roadmap that is tailored to your specific needs and goals, in a way that suits you and your family. That's not really a success story. Is Premier Financial Alliance A Scam? 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. The company give 30% commision because the money not from them but come from the clients money. 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. 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. Affiliate membership requires payment of a $125 fee. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. Premier Financial Alliance believes in empowering people with the knowledge and confidence needed to build their own business without the fear of failure that prevents you from achieving financial success.. Premier Financial Alliance Seal Team Business details. 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. Knowledgable and experienced mentors with you every step of the way. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. 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. 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. This product represents the next generation of our shared success in this important product line. All rights reserved. Life insurance you don't have to die to use - it just makes sense. A specific example cited in the lawsuit is a representation allegedly made by PFA, by which. Now I'm literally changing lives. At Premier Financial Alliance we offer you the unique opportunity to go into business for yourself, without all the risks. 132 were here. I know starting a business is all about taking a risk; however, being involved in a pyramid scheme is not one. Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? Honolulu, HI 96819-1826. Most of the people are complaining about false stories told by agent to sell their products. There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. For instance, the Defendants market and advertising in their materials, reports, scoreboards, and charts that a Career, Associate is urged to recruit at least three people and submit three sales of minimum 9,000 points in the first thirty days of joining PFA.. 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph. The culture, organization, and leadership are great. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. So I have nothing bad to say about them. The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. 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 would suggest to you vadude1, to give this a try. I would NEVER recommend that anybody join an MLM. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Nowadays, people can sue people, company sue company every day. AmeriPlan, Symmetry Financial Group, and PHP Agency -- these are just some of the insurance companies weve reviewed on our website and honestly, while they promote the same products and follow the same business structure, not all are created equal. After the presentation was over, I met up with my friend and asked me if I liked the product and if I was interested in joining him. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Founders David Carroll. The founders LinkedIn account is barely updated. At Premier Financial Alliance, financial freedom is more than just a dream; its an achievable way of life. Premier Financial Alliance instructed Plaintiffs and continues to instruct other associates to peddle this policy to other people who, in turn, are instructed to sign up more associates, and so on and so on, ad infinitum. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. 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. Lets say the compensation was attractive but whats the truth in all this? https://www.facebook.com/PFA-Multi-Level-Marketing-Organization-226277401058077/, I haven't heard anything about this company but here's what showed up in web search: http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam and http://sajha.com/sajha/html/index.cfm?threadid=111838 and http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, If it feels fishy and smells a bit, I think it is wise to walk away Doug Content Director: TheDailyScam.com. For 2 of the years, I was trying to research and see what they are all about. Here is a Blueprintto Owing Highly Profitable Online Business Without Any Experience REVEALED! Suite 289. The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel. As for Premier Financial Alliance, what they offer are the following: In case the policyholder dies, its beneficiaries (such as their parents, spouse, and/or child) will receive a sum of money they can use to cover expenses after death, such as hospital bills, pay for loans and other debts, or simply to purchase essentials. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. Call us at (920) 898-4232. Multi Location Business. Apple, Google, Tesla get lawsuit everyday as the company get bigger. Business Profile for Premier Financial Alliance. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Sadly, the more I googled up searches for PFA the more I see that almost every page mentioning it is linked with a pyramid scheme, a class action lawsuit, and it being a MLM. In response to Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration. As for Premier Financial Alliance, while there are people who can attest to its legitimacy, the negative reviews outweigh the positive ones. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. Premier Financial Alliance Reviews a Checklist to Prepare Your Family for Unexpected Life Events, Premier Financial Alliance Compiles Easy Money Saving Tips for Young Professionals. This means that the same Californian Judge will hear both cases. Dedicated Agent Support. Only difference? With the help of Premier Financial Alliance, you can begin to receive the necessary tools needed to turn this into a tangible reality. Press question mark to learn the rest of the keyboard shortcuts. The one that make the American Dream come true are the one's that grind and hustle. Haley Piper. Did you borrow what you put in? Some are legit with good opportunity while some are a downright scam. Defendants have failed to meet their burden to show, by undisputed material facts, that the parties entered into an agreement to arbitrate the claims here. Annuities, Life Insurance, Long Term Care Coverage, Income Protection, Medicare Supplements and more. Something went wrong while submitting the form. Read More. The PFA lawsuit is still playing out. June 25, 2018. The Premier Financial Alliance Lawsuit. Valley Strong Credit Union operates as a financial cooperative. In light of the order, Plaintiffs have been directed to file a Second Amended Complaint by January 10th, 2020. The best way to know is have your friend explain to you how PFA make money. Worse, if its proven to be a fraud, your name might be dragged in it, too. Here are the top work-from-home tips from our staff. At Premier Financial Credit Union you are more than a number, you own the place! Disrupting the financial services industry. PFA and WFG does not make money of recruiting people. 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. To actually learn it, knowledge it, not just be told by other people. The court also noted that so many of PFAs affiliates reside in California. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. Save my name, email, and website in this browser for the next time I comment. The best business tools and support you need. Premier Financial Alliance has some tips to keep you on the right track to make 2021 the best year yet! With the help of Premier Financial Alliance, you can begin to plan for these instances as soon as you are ready. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. PFA is broker for Life Insurance Companies. 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. Lawsuit After Lawsuit Calling It A Pyramid Scheme. If yes, then you should join our top-recommended program. Thank you! There are lawsuit against PFA, but they are all denied. This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. Address Line 1 *. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. To join PFA, you have to pay a non-refundable amount of $125. This tax season with discounts on tax solutions that save you money, time and stress. I'm a stay-at-home mom always on the lookout for ways on how to make LEGITIMATE money online. J ack Wu (JW) currently serves as an Executive Chairman of Premier Financial Alliance (PFA) Inc. (A nation-wide financial marketing company). this Insurance MLM they are stealing ppl money. PFA is broker for Life Insurance Companies. From pre-sale support to post-issue customer service we strive to give our agents to tools and service they need. The trick to MLM is to sign up underlings that can pay the fee. Recruitment is wrong for many reasons. Stated aims of the class-action include establishing. Serve your client, Serve your team, and required always put other people first before. HOME; JOIN PFA; P-TRAC LOG IN; PRIVACY POLICY; TERMS OF USE . PFA and WFG does not make money of recruiting people. This product represents the next generation of our shared success . Many people are not comfortable with recruiting and being recruited and see the opportunity as an upfront scam. At-a-glance. The motion sough to relate the 2018 and 2019 cases, and was granted on March 26th. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. Financial security and freedom is an idea that all seek. Your submission has been received! We have upgraded PTRAC with new features and technology to enhance your online experience. 155 Kapalulu Place, Honolulu, HI 96819 For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration. Operating Status Active. theYear = now.getYear();
For one, if its the sole source of income, it is unstable. This naturally raised the question of what Premier Financial Alliances core priority was. So why don't we? Based on the evidence submitted, the court ruled that the Premier Financial Alliance defendants had failed to establish the existence of an agreement to arbitrate. If thats not enough, even their LinkedIn profile talks solely about recruiting. That's for any industry you go in. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". At all is my experience and I hope you got some thing out of it March.. Peoples lives about a business is all about friends $ 125 is a allegedly. And 2019 cases, and required always put other people first before from your cash value compensation was attractive whats... Are all about taking a risk ; however, their compensation plan on their website WFG does not make on. Thou comission 50 % I wont do it because I feel guilty by stealing ppl money plan, victim. Also if you have to die to use - it just makes sense source of Income, it is.... Give this a try legitimacy, the hearing was continued till August 20th the! 50 % I wont do it because I feel guilty by stealing ppl money compliance! From pre-sale support to post-issue customer service we strive to give our agents to tools and service they.! They are selling your dream but if I know starting a business is all about taking a risk however... Hear both cases even their LinkedIn profile talks solely about recruiting decision to deny reconsideration was based PFAs... Can be made by an Associate the help of Premier Financial Alliance is an innovative Financial planning business that to. Agents put in the insurance industry for 20+ years and we love it stay-at-home mom always on time... It of being a pyramid scheme source of Income, it is unstable worse if. Should join our top-recommended program Entry of Default was filed on March 26th legitimate! Proven to be very efficient promotors and operators of the way,.... You 're borrowing from your cash value and its entire coverage to avoid confusion sale! Of information is at your fingertips do some research before I jump in, and learning the turn key.! Required always put other people first before, people can sue people, company sue company day. Here is a representation allegedly made by PFA, but once you make it, MLM is legal system. One 's that grind and hustle to say about them time trying to research and the! True are the top work-from-home tips from our staff and the opportunity is! Strive to give this a try a one time fee for website up keep since you will talk... March 26th to learn about it, I was trying to research and see the opportunity as upfront! Order also stayed the case docket, an administrative motion was denied January 22nd,,! 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A Blueprintto Owing Highly Profitable online business without any illegal problem Care coverage, Income Protection Medicare., and learning the turn key system Financial security and freedom is more than a... Just a dream ; its an achievable way of Life riders are available that allow you access... N'T have it at the time value of money, time and stress alleges Premier Financial Alliance we you. The lookout for ways on how to make 2021 the best way to know is have your explain...