Is the World Financial Group a scam? WFG MLM Review, Pros, and Cons

Is the World Financial Group a scam?

If you have tried one or two MLM companies in the past, you will understand that most of them sell physical products in health, beauty, cutleries, or multivitamins categories. Have you heard of an MLM company that doesn’t sell physical products? Well, there are many of them. The World Financial Group (WFG) is one of them. It offers financial solutions to its customers using the MLM business model. Is the World Financial Group a scam?

In this post, you will find all the answers related to World Financial Group MLM and if it’s recommended and worth joining.

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Read: What is MLM Business?

What is World Financial Group (WFG) MLM?

WFG is an MLM company that sells financial products such as retirement investments and life insurance. It is primarily into the sales of financial products and services for companies like Nationwide, Pacific Life, Transamerica, and Prudential.

The company is owned 100% by Transamerica which is a subsidiary of Aegon. It has more than 3,500 offices in the United States with over 42,000 agents.

Unlike most MLM companies, World Financial Group doesn’t sell physical products. It only uses the MLM model to sell financial products. It is similar to Primerica.

The products are sold through a wide network of distributors or associates. The World Financial Group has been in operation for close to 30 years. It started its operation in 1991 when its founder Hubert Humphrey decided to leave Primerica.

The company can be found in many countries like Canada, the United States, Mexico, Puerto Rico, Guam, Taiwan, and the Philippines.

How does World Financial Group work?

Like every other MLM company, it works using a compensation plan for its associates. You can earn as much as 65% commission on your sales.

The WFG MLM program offers individuals a full-time or part-time business opportunity to sell their financial products. The individuals are called independent agents.

The program is aimed to extend the knowledge sharing by their existing agents to the newly recruited. There is training and support on offer throughout the transformation process to make the individual business journey successful.

How to join the World Financial Group MLM?

To join World Financial Group, you will need to pay a start-up fee of $100 as a US resident and $130 + taxes as a Canadian resident. You must also locate an agent to get started.

If you cannot locate an agent physically, you can visit their website at and click on “Locate an agent” by the top right side of the website.

You also need to bear different licensing and exam fees including applicable state-wise taxes. The fees could go up to $600-$700 as a one-time and annual payment.

World Financial Group products and services

What do you have to sell to earn 65% commissions? Below are the products and services offered by WFG:

Financial investments: The term used to sell such investment plans are financial strategies. It is aimed to provide you a roadmap for your financial needs and future savings.

Insurance: Insurance services include life and disability insurance, long-term care insurance, etc. to help you cover unexpected financial occurrences.

Retirement schemes: The services offered under retirement strategies include annuities, and other savings plans to ensure regular income post-retirement.

The services also include college funding, all types of insurance and retirement schemes for business owners, and tax-saving schemes.

Are the WFG products and services worth selling? 

Sadly, the customer reviews and expectations surrounding WFG services are discouraging. There are many complaints about their financial plans and even negative comments by some of their agents.

The overall review ratings are below 4 which does not look good for any organization. The BBB ratings are on the downside.

World Financial Group Compensation plan

The compensation plan seems to lay more emphasis on recruitment and product sale is relegated to the background. Commissions are earned through your sales and that of your downlines.

The percentages of commissions are not clearly stated on the website. This is another red flag.

With the little information I can scoop from the internet, the commission is based on your level.

Below are the commission rates with their levels:

  • Training associate – 25% commission
  • Associate – 35% commission
  • Managing Director – 50% commission
  • Senior Marketing Director – 65% commission

Can I make money with World Financial Group?

Honestly, you have to be at your best to make money with World Financial Group. There are people that make more than $100,000 dollars per annum while there are others that make just enough to survive their membership fees.

The WFG income disclosure information reveals that an average annual earning of an individual agent having spent close to 3-years was $65,050 and $502,278 for an agent who spent almost 10-years. That means it will take you at least 3-years to make $5000 a month.

The numbers are not bad but remember, there is no free lunch in Freetown. This means you will have to put in the work required to earn a good amount of money.

If you take it seriously as a business, you will make money by just selling financial products to those who need the services.

The truth is that there is a lot of prospects in the business. Many people are waiting for financial services to come to their doorstep since they may not have the time to go to the offices of these companies.

But again, it all depends on whether you like selling and recruiting people and persisting with it for a long time to make some money.

What categories of people are targeted as recruits? 

They target college graduates and the unemployed. These people are trained to sell financial products and services.

How does World Financial Group get their customers? 

WFG depends on its associates to purchase the products. They also encourage their family and friends to purchase the products too.

Another way they get customers is by aggressively recruiting more associates.

Is World Financial Group a pyramid scheme? 

No, it is not a pyramid scheme. Pyramid schemes don’t sell products or services. In the case of WFG, there are products and services to sell.

Is the World Financial Group a scam or a legit company? 

WFG is not a scam but many associates who have failed in the business have termed it a scam. That being mentioned, a lot of scams have spoilt the MLM business.

You have to look well and ask the right questions before joining an MLM platform. Many of them bolt away after collecting the start-up fee.

WFG is a legit company. If you purchase any financial services from them, you will get the product purchased.

Frequently Asked Questions

1. What are the product lines of World Financial Group?

Answer: The Company’s product lines include long-term care insurance, life insurance, investment accounts, annuities, and more.

2. Can anyone join the WFG MLM program?

Answer: No, it is for residents of the United States and Canada.

3. Is licensing required to join WFG?

Answer: Insurance licensing is needed from your state and you will be required to sit for an insurance exam before selling a policy.


  • Financial independence – Everything about World Financial Group buoys down to financial independence since the products and services sold include investment, savings, annuities, and advising people to live within what they earn.
  • Reputable organization – Apart from the fact that World Financial Group is a reputable company, the products, and services sold are also from trusted companies like Transamerica, Pacific Life, Prudential, and Nationwide.
  • Effective mentorship – There are a lot of coaching and mentorship opportunities that help people grow their businesses.
  • Excellent track record – It is not an easy task for an MLM company to be in business for to up 30 years. Many of them have gone down due to bankruptcy or closure by the Financial Trade Commission (FTC). So, credit should be given to WFG for still being in operation even after suffering many lawsuits and sanctions by FTC.


  • Recruitment is required – It is difficult to make any financial breakthrough with any MLM company without recruiting new associates. Not too many people are keen on joining MLM platforms these days because of the stress involved in it.
  • Overhyping of products – Some of the products like Universal Life Insurance are highly overhyped. Many of the investors see it as a rip-off because it benefits the sellers more than the investors.
  • Lots of sweat is needed – Many of the millionaire associates in WFG have explained that it requires a full-time commitment to earn a full-time income. That means you have to sweat it out to make it in the business.
  • C+ rating – The Company is rated C+ by Better Business Bureau (BBB). There are lots of questions and speculations about its credibility and trustworthiness.

Conclusion: Is the World Financial Group MLM recommended?

Though, WFG is quite different from the other MLM companies like Nu Skin, MaryKay, and Herbalife since they don’t sell physical products. But they are the same in practice.

MLM is seen as a waste of time because it is only a percentage of the people that make money from it. This is why I won’t recommend WFG despite having some plausible positives.

There is a lot of stress involved in joining the WFG MLM. You will need to sit for an insurance exam and pay $100 as a start-up fee even before making any sales. You can use that $100 to develop a skill.

The other impediments include recruiting people who have to attend meetings. And the recruits are never paid for attending the meetings.

All of the above generally makes WFG MLM a tough nut to crack.

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