Long-term care insurance Personal Finance vehiclessuch as mutual funds, managed investments, annuities, and business retirement plans. Stupid questions.. You should really just target people who dont mind selling this way instead of rounding up a large number of people to attend presentations. Through this method, a modern pyramid scheme takes form, meaning the next generation of scams and get rich quick schemes are going to move away from cosmetics and protein powders and towards the blockchain. Why? Thanks for the info, I got a call from them this morning and promptly cancelled after reading this. As you also stated, there are no downlines involved. 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. He launched into his clearly rehearsed and scripted talk. They didnt get my credit card info but they have my social security number and my other info. I didnt want to be rude to him with my best friend trying to work there but it just didnt sit right with me. And use to convince FLORIDA retirement sustem workerd to move there money with us thinking thatsba good idea and look what is the result ! That was definitely not the job that the Lord was showing me. And by work, of course, I mean pay them for their 36-week training course and then a monthly fee afterwards. So, I was interested and I REALLY loved the couple and was glad to see and hang out with them after so long. * Also, if someone wasnt college material, and all they were qualified for is a $10-15/hr job, but they really loved their family and wanted to do more to provide for them, to where, other than another MLM type jobs, could they go? Thank you! Simple as that. I thought that was weird; if youre going around job recruiting at Target, you should probably have a business card. I work with a woman who is always trying to recruit people by taking them almost 2 hours away to hear the presentation. Why the need for secrecy? Over 3 Million people exploited over the last 15 years. Representatives are independent contractors with people working any where from sometime/very part time to very full time. Presumably because the recruiting pool is getting less and less educated. No, Primerica does not offer services that justify a higher price. This may be a rough road, dead end, pain, death and not get anywhere. Multi-level Management is a pyramid/ ponzi scheme. Had he invested his 30 years with any number of other companies, he could be retiring with tons to show for it. She set up an interview for me tomorrow and told me to dress in business attire. As it turns out, I am a lapsed Catholic and an Atheist, but I still wear a silver communion cross so she may have been taking a stab. but after reading this I wont be going. So I bit and went to the interview. Something was definitely off. I have better things to do than waste my time being pitched for a scam that takes advantage of people who dont know better. As I told others about my upcoming interview and was asked things like with who, I felt like an idiot realizing I wasnt given any basic details. No way was a guy with $20,000 in debt able to cough up even $500,000 after 3 years if their figures were correct. I like helping people. Id really like to figure out if it is the company that is the problem, or just some of the people in it. If your goal is sales, join a traditional company. Would rather wait for another job. My resume is purely engineering, not sales. Lever term is obtainable from top rated companies for far less money. 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. 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 had to fill out some kind of assessment that would tell them which management training program would be best suited for me. She gave me her spill . They allow an objective summary of the facts. First off anyone can make a PowerPoint and the video was from fricking YouTube. He added that the goal for all individuals is $1 million before retirement. Over dinner, I told my husband about the phone call and what I had found online about this Primerica and learned that he, as well, had been lured to their office a few years back, when he was looking for a job and after sitting in their presentation, he realized that it was a pyramid scheme and walked out without looking back. Im rather candid so I mentioned i was a bit dissatisfied but hey, it pays the bills. I was an Amway distributer years ago. 2018 Sequence Inc. All rights reserved. I was ready to mangle both of them Im so fed up with these lames at this time. Well im not going to my interview today. Either I pay on that time or I can pay after a week If I get hired and it will be part of the hiring process. But still a very nice person . MLM is not a job. Yes, there can be commission only jobs. Question for you, of those that dont do Primerica, what do you do? They WILL continue to call you even after you have said no. Now of course, I see several red flags in the situation. I joined Primerica in 1999 for about 5 minutes. They say that you can get a refund if you are no longer interested. Thanks for this website, now I know its a scam and Im calling off the interview!! Got a free dinner out of it, but I never did anything with it and didnt give them any money. Primerica is regulated by the SEC and FINRA. Im not recruiting people into a pyramid scheme and praying that they recruit more so that I can make a few pennies. Youre good people and will, no doubt, save other people from being duped. I think the biggest tell tale sign that you are getting involved with an ethically questionable company if you have to ask who they work for or grill them on their business model. Never going to a meeting after invited and said you would. I ask for the companys name and he said Primamerica. Anther warning flag went up. Absolutely disgraceful that there are companies like this out there. The fact that she had to describe it as a business opportunity, and not a job already set off alarm bells, as such language is common in many scams, but I went to the interview to see what it was all about. I dont even know if youre someone I want to work with. But then again, I thought ruefully to myself, maybe he was right and I was too soft. Like many before me, I too received a call by a young woman, Jasmine, stating that my number was forwarded as someone ambitious and hard working, seeking employment. I can promise you that he wakes up every morning wishing that he could go to work like normal people and not have to deliver that line of BS at the PFS opportunity meeting tonight. Primerica is an insurance company. I said I was and she offered me an interview. *Money.USNews.com, "How to Find A Financial Advisor if You're . I usually check into these things before setting up appointment or returning calls. I havent called this company in 5 years for anything, and the moment I need some actual assistance, Im treated this way. The first inkling of a warning flag went off in my brain. Two days later, I find out that he hasnt paid the bill on the employee health insurance, the insurance lapsed, and now people are getting medical bills that were supposed to be covered. I said that I was exclusively looking for Purchasing/Procurement roles as I was a buyer. Scum Bag Scammers! Thanks for all these helpful comments and posts. I was brainwashee by Islam and than when finally was free away from and than this so called god/family/business cult comes along Oh how sorry i am for my 10 years of life I got a call from somebody in Primerica named Curtis. he never gave me the company name just the address and I thought it was a company I applied to on indeed but it wasnt as soon as I got there I seen on the door primerica then I turned around and went home my friend told me about them its like a pyramid scam they want you to put money into their business and promises you will make money. He vaguely went over how after the financial health check, customers see how their asset/debt ratio looks and how he then will offer them up solutions to get out of debt and start investing towards retirement. I said ok and never went back. It is a legit MLM business opportunity that has been around for more than 40 years, and it's possible to make real money if done right. I eventually had to block my recruiters number, cancel my account and deactivate my online banking Plz anyone whose thinking of attending or believing what these people are trying to sell you, reconsider . A pyramid scheme begins with one person or a small team recruiting participants to join a new business venture. Any money i earn, or is traveled up to me, is tax free, so that means. Ponzi schemes simply require a cash investment to earn returns. I assume there was a bathroom off the other direction, but I never saw it. Do I just block them and never contact them again? A couple young men were milling about in 3-piece business suits. If this issue was costing them money, they would change it. The FIT bitch (thats me) who wrote this is far from broke, and makes a great living selling legitimate services to people who need them. its a mess! Nice people, very cordial. I was irritated. I express admiration and order another coke and a sandwich. I said i would decide on my method of payment. Thirdly, in a real job I wouldnt be so terrified that the person would think its a scam and I wouldnt care if they came on board or not. I received a call today from a Primerica Representative about a management/ training job. I called and told her straight unless u give me more info about the job I wont be doing the interview.she sounded upset and threw me a few crumbs more about this fake company BS stuff . MLM is not a business. But im not stupid so i looked it all up what the job was and where it actually was and this seems to be all true. I heard at a convention a couple of years ago that the way you know its a good company with good products or services, would be if you had to pay retail, would you still buy it? I was in the middle of Target, shopping in the electronics aisle. I couldnt make out the muffled answer but saw his demeanor change to become a bit more aggressive. When I looked at the girls job title, I googled it and found this site. OmG people you are not making a difference commenting here report it to the BBB online or phone I did . she never asked for a resume or any back round on me never told me the name of the company until I asked her today . I am so glad to have websites like these were people can learn a little more about what they may be getting themselves into. Went well. That is my goal. He keeps insisting to do it that day but I firmly said i will think about it. As for NFTs, exclusivity and FOMO run the gameeveryone wants in and where there are winners, there are losers. 5. The MLM company has all the power and they just sit there and watch the money roll in while their distributors lose. If you join Primerica your commission schedule is ridiculously LOW. but that neither here or there.) Financial Advisor (Former Employee) - Fort Worth, TX - November 23, 2022 Its not for everyone! Only two other rooms seemed to be in this building, a walled-off office and a copy room that was more or less a bump off the main hallway. I knew something was fishy from the start. PFS Investments insights Based on 23 survey responses What people like Supportive environment Clear sense of purpose Time and location flexibility Primerica Financial services Pays really well. Clearly if one can do that for another, one should be able to pocket a nice income Once she quit her little dissertation on the gap between the upper class and middle class and how the middle class can become upper class with our help, she told us to wait as she brought in the guy who had written the review for the company (5 stars. 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. I, too, have an interview for tomorrow that I doubt Ill go to now! When I enquired further about the details of this opportunity to make extra income as my schedule permits He responded to me telling me that I would be licensed with my state and I would serve as a financial GPS Lol. He did have an office, yes, but that doesnt necessarily mean he made the money to keep it afloat. I was actually recruited by a Primerica rep that paid the $99 fee for me. Damn I wish I would have read this earlier. A pyramid scheme is usually an illicit activity in which recruiters urge participants to invest money with a promise of high returns. When you get that defensive and that angry, its like you feel the need to justify yourself so you go into defensive mode. She submitted her story to Pink Truth, a website I run about Mary Kay Cosmetics and other multi-level marketing companies. The location seemed extremely sketchy too. For 5 years, Primerica has been paid automatically from my bank account. I noticed $99 needs to be paid. Competitive compensation.. I retired from a 20 year career in the U.S. Air Force in 1993. He gave me the address and time for the meeting andthats it. I was a little suspicious, and thought it was strange he didnt tell me the name of the company, so I asked him. Got a call back today, saying my interview stood out, and to come for a brief information session. He kept asking me weird questions and giving even weirder examples. I received a call from Primerica just a few hours ago. After the presentation, the young man asks me if I have investment services or life insurance. At school when were prepping for interviews, recruiters ALWAYS want a resume. And he also lied and said that the manager at the store that night was meeting up with him also but come to find out she doesnt even know him let alone talked with him about the business he trying to recruit us for. Not going to take offer with the tidbits from this site as well. THe credit check should be about $30. I thought I had a job interview today where the man switched to trying to get me to be a Primerica rep. What I am saying is that (a) the MLM structure is a legal scam that hurts the distributors/representatives, and (b) Primericas products generally cost more than other similar (or better) products sold through non-MLM companies. Very creeped out. As he hung up the phone I exhaled to release the tense feeling I felt, then realized I had been holding my breath for most of the call. I eventually gave in and asked for her business card, she told me she had left it in her office. I feel so bad and my heart bleeds how mich i lied to the community and friends and sold them something they dont stand for . It is a pyramid scheme in which 99% lose money. http://www.sequenceinc.com/fraudfiles/2015/03/multi-level-marketing-is-not-a-business-its-a-pyramid-scheme/. 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. Information regarding accounts at other fund companies may be found on those companies' websites. An office front is an office front, I thought. Feeling like a big dummy and annoyed with myself for giving the man my personal number, not to mention the fact he knows where I work and may come back and try again. It came off exactly as I anticipated, money, money, money, completely scripted and complete with props and pictures. Thanks guys for ur time to let ppl know who primerica is. He said Id love to have you come and work for me etc. Those are games we leave for the devil. Can anyone who is successful in a traditional business start a business for that little of an investment? I just hope it was a legit employee just trying to recruit more people. My only piece of advise. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. I made to RVP , sold alots of policies yes made money but when my comminity questioned 35 year term beeng level term company simply forced me to step down . 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. Thank you for the heads up!!! So this got more fishy. I wasnt amused. * Finally, does it have to have an hourly salary to be job? 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. Thank you for the honest comments, saved me time and money. A few of my friends got roped into this. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. I was in college when they reached out to me about coming there to work. At least this way, I can practice negotiating for a higher pay level, and interviewing in general. Representatives of PFS troll the internet for job seekers, harvesting resumes from job sites. Please please please stay away from this scam!!! So I booked an interview with him. After all, he was the successful one here of the two of us. I would suggest insurance agencies and companies like Edward Jones. I've written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam. He finally mentioned he was on the phone with primerica and he was conducting an interview now Very weird so I blocked evrythhng and said no sales. He called me the next day and I missed his call. Something about honesty. I am left feeling overly annoyed. I talked to the women who contacted me through LinkedIn and her husband when I first got there. https://www.nasdaq.com/press-release/mary-kay-inc.-announces-awards-milestones-and-accomplishments-from-full-year-2022 Anyone quoting pink truth (aka themselves) like this attempted sub-feeder blog and the gm one, I agree! Their RVP essentially told me he only worked with people who used the product and believed in it. I then googled Prime America and this site was the first thing that popped up. remaining 50% of sallys premium go up to my trainer, (again, depending on rank%.) Yes, the office/team gets part of every sale because they play a part in every sale. Tracy is that lonely little girl in high school who no one ever liked, and was never invited to parties, probably why she hates on MLMs so much, no one ever invited her. 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. She told me that someone referred me and thought very highly of me. B . Business opportunities are not for the weak at heart. She tells me about running her financial management business in the suburbs, how shes trying to open an office in the city, how she bought another house to take care of her ailing mother-in-law. Now of course I realize that I was probably the only one who wanted to learn. after hearing these non descriptive answers at this point Im like yea, ok very high chance I will not be showing up. 5. opening up a store or a chain of stores with their very own factory. I filled out the basic information and then realized they asked for social security and began to question him.