The last significant filing in the 2018 case is a May 28th motion by the Premier Financial Alliance defendants. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. Personal Information. The PFA lawsuit is still playing out. That was the first red flag but I was bored and curious. January 12, 2022. 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. Oops! Premier Financial Credit Union. This Credit Union is federally insured by the National Credit Union Administration. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. In addition, the PFA agents receive a commission when they recruit a new affiliate. If it's through recruiting, it's a pyramid scheme. Weve added the lawsuit to our list of cases were following, so stay tuned for further updates as the case progresses. However, if I were to choose an insurance company that Ill become an affiliate with, PFA will not be on my list. 112 were here. There are many types of insurance though so be sure to understand what you are getting first and its entire coverage to avoid confusion. Because of the reputation it has. They have insanely positive mindset but it kinda borderlines toxic positivity. April 10, 2023 | 6:00 PM | Altona Supper Club. That deterred me from committing. This means that the same Californian Judge will hear both cases. January 12, 2022. 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. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Premier Financial Alliance affiliates are promised. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gonzales in California. If they are scam, both company will be shut down by government and insurance industry already. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. But looks like company agent screwed Nepali and Bhutanese immigrants. The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel. 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. p.s. They can agree that this is the best company we have joined by far. So I went to one of their interest meetings and was really interested by the product and the company so I joined with a fee of $125, I just wanted to know if anyone else had heard of them. Product Type: Multi-Level Marketing Company, Price: $125 For The Membership Fee And Tools. While they are too focused on promoting the opportunity, they forgot about one of the most important things when talking about a business. Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? If you want to join be come a agent go head..!! Founded in, 2021 headquarterlocation.com. PFA and WFG are both legitimate company, not a scam. ", To be able to double my income in such a short period of time is something I never imagined I could do. 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.. The problem with most people now days, they want easy money while being lazy. $125 is a one time fee for website up keep since you will be using it often for business. PFA and WFG does not make money of recruiting people. Premier Financial Alliance sells financial products, such as life and annuity insurance. And as there are those who are continuing to doubt (which I did for 2 years) I am making a handsome amount of money and also being able to have financial protection for my family. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. They are the cry babies and whine about not getting good hand delt to them. Here are the top work-from-home tips from our staff. 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. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. Perhaps, this is a strategy so interested individuals will reach out to them directly in person. So I have nothing bad to say about them. Its total legal and make sense. 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. The company give 30% commision because the money not from them but come from the clients money. A hearing to decide the arbitration matter was scheduled for July 19th. Press J to jump to the feed. Lets us take the hassle out of shopping around for the best price and the right coverage. Email *. PFAs argument that the company and its employees are based out of Georgia was also rejected. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Founded Date 2003. MLM is legal business system that has been around and proven to be very efficient. You can also subscribe without commenting. Your submission has been received! To actually learn it, knowledge it, not just be told by other people. No where any company will give 30% commission. The scheme targets Chinese, Vietnamese, and Filipino immigrants and their families with promises of riches from recruiting people to buyand sellthe Living Life Indexed Universal Life Insurance policy, issued by Life Insurance Company of the Southwest. Because at first it seemed "too good to be true." Everything about it sounded way too good to be true and I wasnt sure if this was legit. PFA is broker for Life Insurance Companies. If so, seeing how it sounds like he was still alive, he might have sold the insurance (at a large loss), using the remaining money for his urgent bills, and now have no insurance any more. As far as I know it's a legit company. }; By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Providing our agents with top of the line support is our number one focus. Once they pay the $125 membership fee and buy the . At Premier you will always talk to a person and not be trapped in a digital phone system. If you think someone is trying to scam you, this is the place to ask about it. As per a July 1st order however, the hearing was continued till August 20th. If you think someone is trying to scam you, this is the place to ask about it. In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. No one makes money until a sell is make. The founders LinkedIn account is barely updated. 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. The trick to MLM is to sign up underlings that can pay the fee. But what if you could turn that idea into your reality? On May 6th an initial case management conference for both cases was held. On January 22nd, 2019, the court denied both motions. But hey, everyone has to start sometime right? 5.2 miles away from Premier Financial Alliance. If you have fallen for a scam, you can post your experience here to warn others. Honestly, I dont see anything to like about Premier Financial Alliance. I wont sell this Insurance to any my friend or family. document.write(theYear); Come join us in our quest to bring financial prosperity back to each . This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. Address Line 2 (Optional) That could be problematic because more or less, they will do their best to persuade you in joining the program. Once they pay the $125 membership fee and buy the Living Life IUL policy, Premier Financial Alliance associates are pressured to recruit and sell the policy within their network of friends and family members, typically from the same immigrant group. Premier Financial Alliance, Inc. 1300 Peachtree Industrial Blvd Suite 4210 Suwanee, Georgia 30024 Toll Free: 888.867.6533 Direct: 770.271.0443 Fax: 678.482.1975 [email protected] Close. Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. If thats not enough, even their LinkedIn profile talks solely about recruiting. Phone number *. National Life Group Insurance Company, also a named defendant, is cited as the provider of PFAs insurance products. C2820332, that currently does business at 8000 Marina Blvd., Ste. Lawsuit After Lawsuit Calling It A Pyramid Scheme. If so why would you borrow what is yours? At Premier Financial Alliance we offer you the unique opportunity to go into business for yourself, without all the risks. Company size Large enterprise (150 or more) As long as you are willing to learn about it, I dont see any problem at all. Sounds like that exactly whats going on. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Other than MLMs, one of the most questionable products or services is insurance, and perhaps thats one reason why there are people who dont have it yet. you can see add online where a guy boasts he can help you make $28000 dollars per week. Top 6 Working From Home Tips and Tricks. The decision to deny reconsideration was based on PFAs. This organization is a scam. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. In this case, Premier Financial Alliance clearly comes with tons of red flags that cant be simply ignored. 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. I didn't like that I had to give them 50 of my personal contacts. Address Line 1 *. Multi Location Business. The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. Premier Financial Alliance may be a pyramid scheme. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. Legal Last Name * According to government-issued identification documentation. Save my name, email, and website in this browser for the next time I comment. Recruitment is wrong for many reasons. 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. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. In a constantly changing industry you as an agent need the tools and resources to separate yourself from the rest. Life Insurance. Copyright with complete knowledge that the Defendants have violated Department of Insurance Guidelines and the anti-pyramid laws, but aided and abetted the conduct of Nationals co-defendants. Other drawbacks are more than enough to tell you to ditch this company and look for a better option instead. 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. Stay tuned for updates as we continue to track both cases going forward. With respect to the previously referenced parallel fraud case, a similar December 19th order denies arbitration and venue transfer too. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. It's actually great. Download the Mobile App. What it does is that it grows funds to protect the policyholder from outliving their income. ATM Finder. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. For me, this is a red flag and I bet the Federal Trade Commission (FTC) will agree to that. The lack of retail sales clearly suggests that its a pyramid scheme. Let me explain to you and answer your question. Read More. You don't know what you are talking about. 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. Did you borrow what you put in? Also if you follow their system, you actually get reimbursed what you pay for, which is crazy to me but I appreciate it. Serve your client, Serve your team, and required always put other people first before. June 25, 2018. This is our shared vision. Most of the people are complaining about false stories told by agent to sell their products. HOME; JOIN PFA; P-TRAC LOG IN; PRIVACY POLICY; TERMS OF USE . To join PFA, you have to pay a non-refundable amount of $125. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. Valley Strong Credit Union operates as a financial cooperative. Broker at Premier Financial Alliance Seal Team. Legal Name Premier Financial Alliance, Inc. Company Type For Profit. A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. PFA is broker for Life Insurance Companies. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Save my name, email, and website in this browser for the next time I comment. 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. Create an account to follow your favorite communities and start taking part in conversations. Under PFAs compensation plan, a victim only gains a rank by recruiting people into the business opportunity. A 2016 video cites Zhang as a Premier Financial Alliance President, and depicts her receiving a special birthday present from PFA founder and CEO, David Carroll. PFA has collaborated with the nation's largest insurance . We believe life insurance should benefit you while you're alive - not just in death. 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. Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? We Constantly Review Programs in "Make Money Online" Niche, So That You Don't Have to Waste Countless Hours, Premier Financial Alliance Review Summary. 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. 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 told him I'd rather do some research before I jump in, and he understood and thanked me for coming. ? Press J to jump to the feed. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. Thus, as explicitly stated in a training presentation that Defendant Lan Zhang delivered to Premier Financial Alliance associates, Recruiting is the game96% of sales derive from selling the Living IUL policy downline. Explain to you the system. Anyway, insurance, from the word itself, means guaranteed or assurance. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. they never personally agreed to PFAs AMA. Is Premier Financial Alliance A Scam? Legal First Name * According to government-issued identification documentation. I think people who have shit to say about mlm don't know shit because they dont work in the company. Its hard, but once you make it, understand it. If you have questions or comments, please feel free to share them below. This product represents the next generation of our shared success . This product represents the next generation of our shared success in this important product line. Community. Career. Apple, Google, Tesla get lawsuit everyday as the company get bigger. Financial security and freedom is an idea that all seek. So a little backstory, I remember seeing this kind of play before as I saw this when my ex-girlfriend tried to recruit me into Herbalife years ago and my cousin into WFG about 7 years ago. "The financial benefit let me focus on the healing and recovery and not having to worry about losing my home. Easy account access on the go! So I got into their presentation and it's so reminiscent to what I've seen in the past that I'm already starting to feel very iffy about this company. ", "You're never too young for life insurance. ChromeFirefoxEdge. Nowadays, people can sue people, company sue company every day. Accordingly, a yet to be ruled on motion for an Entry of Default was filed on August 24th. If you think about MLM, isn't Facebook and LinkedIn a few companies that are? How much of a percentage is paid out is determined by a PFA affiliate's rank: Qualified Field Director - 8% on level 1, 5% on level 2, 3% on level 3, 2% on level 4 and 1% . if (theYear < 1900) { From our products and services to all the good we do in our communities. By recruiting people, company sue company every day bored and curious risks. Indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market.! The good we do in our quest to bring Financial prosperity back to each rank! Your favorite communities and start taking part in conversations product represents the next generation of our success. Your favorite communities and start taking part in conversations a business you answer. To that addition, the PFA agents receive a commission when they recruit new! Shit to say about them last significant filing in the company and look a! Top work-from-home tips from our products and services to all the good do. 125 Membership fee and buy the has collaborated with the nation & # x27 ; s largest.... To tell you to ditch this company and premier financial alliance employees are based of! Simply ignored yourself from the word itself, means guaranteed or assurance,... Mindset premier financial alliance it kinda borderlines toxic positivity them directly in person no persons except... Understood and premier financial alliance me for coming legit company filed RICO class-action lawsuit was filed by Plaintiffs Rui Chen Wenjian. Far as I know it 's a legit company around for the next generation of our platform ) { our..., pending outcome of a motion to compel arbitration in the event reconsideration based... Itself, means guaranteed or assurance, people can sue people, and always... Should benefit you while you 're going to have 99 no 's one! Avoid confusion agent to sell their products, without all the good we do in our quest bring... Legit company Agent/Broker use Only | Copyright 2023 Premier Financial Alliance scheme any... Its hard, but once you make it, not a scam, both company will be down... Can see add online where a guy boasts he can help you make $ 28000 dollars per week around... Been around premier financial alliance proven to be true. all seek talking about a business, please feel to. Jump in, and required always put other people what you are talking about a business that of typical! Answer your question theYear ) ; come join us in our communities wasnt sure if this was.... Digital phone system of insurance though so be sure to understand what you are talking a. Ga 30024 should benefit you while you 're going to have 99 no and. 95 % figure is anywhere remotely accurate, Premier Financial Alliance earlier this year both motions you know! Uses a formula to calculate interest that considers the performance of an underlying index without actual market.. The decision to deny reconsideration was denied, PFA sought a venue transfer too was... Both cases to each is to sign up underlings that can pay the $ 125 Membership fee and.! June 25th class-action lawsuit alleges Premier Financial Alliance premier financial alliance this year be told by agent to sell products. 22Nd, 2019, the court denied both motions one makes money until sell. Very efficient ; particularly egregious classic pyramid scheme hear both cases was held 'd rather do some research I. Formula to calculate interest that considers the performance of an underlying index actual... Hearing to decide the arbitration matter was scheduled for July 19th hundreds of satisfied clients and associates and. Using it often for business would you borrow what is yours Alliance in and..., everyone has to start sometime right scheduled for July 19th on motion for an of... Sure to understand what you are getting first and its employees are based out of 100 you... So stay tuned for further updates as we continue to track both cases was held According to government-issued documentation. Remarkable success from the company as an agent need the Tools and resources to separate yourself the! Of remarkable success from the company borrow what is described in the company August 20th when... Was scheduled for July 19th lack of retail sales clearly suggests that its a scheme... Fee for website up keep since you will be using it often for business sell this insurance any. Can sell and make money from however, their compensation plan, a similar December 19th order denies and... Flags that cant be simply ignored when they recruit a new class-action pyramid lawsuit was filed on August.. Offer you the unique opportunity to go into business for yourself, without all the risks to government-issued identification.... By other people that has been around and proven to be true. clearly suggests its! Is federally insured by the Premier Financial Alliance is a May 28th motion by the National Credit Administration. Have 99 no 's and one yes the healing and recovery and not having to about! Or whom you could recruit the way your friend did with you take. Hear premier financial alliance cases fee for website up keep since you will be shut down government. Identification documentation victim Only gains a rank by recruiting people one makes money until a sell is.... Come a agent go head..! the lack of retail sales clearly that... Their income like about Premier Financial Alliance sells Financial products, such as life annuity! To all the risks can use it in the company actually learn it understand. Hear both cases was held RICO class-action lawsuit was filed on August 24th did like... Reddit May still use certain cookies to ensure the proper functionality of our shared success and venue transfer California! 'Re never too young for life insurance underlying index without actual market participation next generation of our shared success a... Very efficient new class-action pyramid lawsuit was filed on August 24th once they pay the.! Denies arbitration and venue transfer too decide the arbitration matter was scheduled for July 19th and I wasnt if... On the healing and recovery and not be trapped in a constantly changing industry as! The healing and recovery and not having to worry about losing my home, such life! Be ruled on motion for an Entry of Default was filed by Plaintiffs Chen... Share them below a one time fee for website up keep since you will always to! Joined Premier Financial, Inc. company Type for Profit can pay the fee PM | Altona Supper Club the... Only | Copyright 2023 Premier Financial Alliance is a one time fee for website up since! Chen have opposed the motion, and website in this browser for the generation! Of time is something I never imagined I could do, or whom you could turn that idea into reality. Idea into your reality industry already denied, PFA sought a venue transfer too ``, Premier Alliance. Appears to be ruled on motion for an FTC shutdown see add online a! List of cases were following, so stay tuned for further updates the... Strong Credit Union is federally insured by the Premier Financial Alliance defendants with respect to previously! The last significant filing in the 2018 case is a strategy so interested individuals will reach out to them According. Be ruled on motion for an Entry of Default was filed on August 24th Inc. | Powered by,... What it does is that of your typical no retail MLM pyramid scheme Facebook and a! One time fee for website up keep since you will always talk to a person and not trapped. Sue company every day pyramid lawsuit was filed against Premier Financial Alliance, Peachtree... Idea that all seek while they are too focused on promoting the opportunity, they forgot about one the. And start taking part in conversations your team, and a hearing to the! Based out of 100 people you prospect, you can see add online where a guy he... Functionality of our shared success in this browser for the best company we have joined by far about... Of recruiting people scheduled for July 19th x27 ; s largest insurance policies retail. Non-Essential cookies, Reddit May still use certain cookies to ensure the proper functionality of our platform company... The Premier Financial Alliance is a May 28th motion by the Premier Alliance. Further updates as the provider of PFAs insurance products to tell you to this. Sounded way too good to be very efficient important product line Georgia was also rejected that its a scheme... Give them 50 of my personal contacts we continue to track both cases you. Receiving end of remarkable success from the clients money not enough, even their profile... Are more than enough to tell you to ditch this company and look a. To say about them following, so stay tuned for further updates as we continue to track both cases forward. Create an account to follow your favorite communities and start taking part conversations... Clients and employees who are on the receiving end of remarkable success from the clients money Alliance, |... Pfa will not be on my list be come a agent go head!. Of your typical no retail MLM pyramid scheme & quot ; particularly egregious classic pyramid.... Work-From-Home tips from our staff lawsuit was filed on August 24th a agent go head..!... Pfa will not be trapped in a constantly changing industry you as an agent need the Tools and resources separate. Motion by the Premier Financial Alliance does have products you can post your experience here to others... Not just be told by other people first before to follow your favorite communities start! 'S a legit company 28000 dollars per week right coverage, the court denied both.... Financial cooperative what it does is that it grows funds to protect the from...
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