Since I barely heard her, I asked about 3 more times before clearly hearing PFS, which I noticed she did not once tell me what PFS stood for. I will be posting this to all of my social media, explaining what a scam this company really is. However, companies, I was in college when they reached out to me about coming there to work. I barely spoke and Im on the good side of the manager. Funny thing is, the first 20 times I heard this same spiel I was envious of his life and attracted to the lifestyle he proclaimed was not only possible, but a given if one followed his leadership. I told her to keep my money and I left. One day I am opening the bar where I work a dive bar in a very low income neighborhood. The company's main product is Term Life Insurance. Nice to know people are exposing this company! Thanks for all the information. The 'Private Investment Club' conference had everything: a host demanding people pay for 'VIP' access, weird pyramid diagrams, "plerking," and a celebrity guest who clearly didn't read the memo. Looking them up, I found this thread and Im grateful I told him to take a hike. ALL THEY WANT IS YOUR MONEY . Go get a real job and stop preying on innocent people trying to get ahead in life. Thats the difference. You need to have a 1) calculator and 2) common sense to realize only the top percentile will make any livable income, in your head you think youre going to get enough sales to make six figures youre not. After reading all these comments im convinced now. Ironic, since recent grads are the least likely to be able to afford to pay to get into this crap. We chat like we did before she mentions that her daughter Mariah (not her name, but I want to stress the weird detail that the name WAS a variant of her own). Well! Even though the warning that you cant believe everything on the Internet is certainly true there are sites like this that give the true accounts of people who have been there, done that, and you should take heed. My contact and I talked a bit, and she escorted me to the door, and I went on my way to run some errands that I had intended to do earlier that day. I attended a presentation and just decided it wasnt something I really wanted to do. Ex boss explains that he also wants me to set that up as an employee benefit. I seem to have ulterior motives? But cancelled my credit but should i worry because of the other info that he has still since their a pyramid scheme. Pretty much what i expected, sort of. Why? I did. When I told him I am no longer interested he kept asking me why and then called me arrogant. I had to squeeze in questions as he was trying to hang up without providing any information such as what does PFS stand for? I experienced nothing like the others that you have told us about. Each year, millions of people work hard in MLMs and do exactly as theyre taught, and they still lose money. She asked if I wanted change of career. Now thats a successful company, but many fail. The big guy stated he made over $500,000 last year. I furrowed my brow thinking I thought he was making those calls for ME.. shouldnt I get credit for those names? * What is a pyramid scheme exactly? My up line still owes me $500 he borrowed. As a matter of policy, BBB does not endorse any product, service or business. Very happy with Merryl Lynch, thanks. Thank you to all for your comments! Seems like she wants to help people. I am really glad I did my home work on this company and thank you to every one for the honest postings I will not be wasting my time with scams. About a week later she calls me. Okay, made perfect sense. The first red flag of the call was that she did not state the name of the company from which she called. She gave me this speech about how she is the General Manager and that she was opening various locations and needed people. Look into those; and if the person you are dealing with only goes to the one service and being a rep,, find another Primerica person to help you. Some of the stories and comments above have been really sad. 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. She asked if I was interested in working with them, and I said yes. So excited that I had an interview yesterday!! Yes There are 76 helpful reviews 76 No There are 37 unhelpful reviews 37. the whole time during this first meeting it was very tense and uncomfortable. I went to the orientation before with Primerica and discovered that it was a MLM. A common line youll hear from Primericans is that, at the very least, they will offer you an inexpensive way to learn about the financial industry. One of those analysis of Primerica showed how that it is nothing more than a game where you dont really make any money, and its all about recruiting and selling over priced term life insurance. Expectations low (as I am VERY cautious) I agreed to meet with him. I dont mind. So me and my friend were at the store when a guy randomly came up to us to talk about his wifes company. 4.praying primerica is what it is for good, help me with these to open up my next store FOR GOODfor all you i dont believe a business can be good and their only out for my money. I immediately searched the company and came across this page. I got up to follow the man into Johns office but he closed the door. tell me what you need and we will basically be pen pals. Two girls were there for the job too. Now here I am, I think Ill be cancelling my interview for tomorrow. First red flag for me is on LinkedIn. Do not get suckered in, I was lured in by a friend that saw I was making pretty good money and figured 100 dollars to start isnt too bad for me. A meet and greet with the manager and then into the position details. She is candid, very kind, open. When I told my boyfriend about it, who is currently taking a bunch of business, marketing and economic courses (Im a FILM MAJOR so the fact that they wanted me at all should have tipped me off), he said it definitely sounded like a pyramid scam and to look it up. He asked if we knew anyone looking for a job part-time or full-time. What a waste of one hour, these scammers will not be at my house nor will I have contact with them again. I know hedge funds can guarantee growth percentages, but never can they guarantee one that high. However, when I suggested that my previous experience would leave me worthy of positions like Business Analyst, I was informed that those positions were only available in the corporate office located in Georgia. Recruiting is not mandatory, as you can make a great income with sales (once licensed as per local regulations, which is what the 99 is for). Tamara I have simple advice: Dont go. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. Like, if someone asked a question that would be fairly customary in the real world, he really would let off on them with something snippy like well, I dont know what youre worth yet. I raised my eyebrow, curious as to how he could explain that one away. I like to hear about the successes towhat did you find out about those that succeed at this? Are you saying that the people who did the fake job interviews are lying, and they didnt actually do that? I need legitimate workdont toy with me. Primerica Misconceptions - Frequently Asked Questions (FAQ) | Primerica i cant even find myself, and i know where i am. This is how Primerica works. Instead my thoughts were screaming through my mind.. really, what was John doing in there?! He also told em they were looking for leaders and instructed me to call him to schedule a meeting. Important Mutual Fund Disclosures I eventually gave in and asked for her business card, she told me she had left it in her office. Im rather candid so I mentioned i was a bit dissatisfied but hey, it pays the bills. It was an apartment looking complex with no name, nothing. And they didnt really seem to give a sh&* that I was cancelling. A recruiter found me on Linked in and said he was impressed with my resume and feels I am qualified for a position again like everyone else I asked for more information and very vague did he explain to me the concept of this company. You knowthat phone call that you set up when youre going on a date so that you have an easy escape if you need it?? He then asked if I, personally, was keeping my career options open and I said yes. I have followed this blog for quite some time. You will lose the business and the friendship. Was met by slick, greasy sales guy in an office the size of a shoebox. Thanks for the info. Didnt add up. LOL Stacy. Never realized Primerica was an MLM until reading what Tracy has posted. What should I be doing? I express admiration and order another coke and a sandwich. Am a cashier nothing spectacular, but I still enjoy it. International Association of Better Business Bureaus. Which is why a I didnt go down that path. concerned . He then tried to get my bank account info right after and I just barely made it out of that. My friends husband was at least honest and up front about me in terms of selling insurance, which I appreciated. I asked her who referred me and she said they interview 30 to 40 people a week and that my name was on a list. (within the next 5 years) Apparently, his company helped a lot of families who couldnt afford such help otherwise. They know what positions they are trying to fill and what each position entices and dont beat about the bush when asked about that. I feel dumb. I put down my 5 usual references for jobs and returned the clip board to the receptionist. When he came back in the office, he explained that there just happened to be a presentation that night that hed like for me to come to. Its quite pathetic that all of us in the comments are forced to search out information on the web rather than hear it straight from the snakes that work for this company. The grand kicker was the way the regional representative (and the speakers) used THE BIBLE to justify us serving a great cause? How to spot a pyramid scheme - Stacie Bosley TED-Ed 18.2M subscribers Subscribe 169K 5.4M views 3 years ago Learn the techniques and tricks that pyramid schemes use to recruit new members and. The VP told me about the $100 fee and the test and how much money I could make working for primerica. What a crappy thing to give your life to. A pyramid scheme is a fraudulent system of making money based on recruiting an ever-increasing number of "investors." The initial promoters recruit investors, who in turn recruit more investors, and so on. He picked up the phone and began to dial but I noticed he pressed *69 first.. what, he was blocking the outgoing #?? Report investment scams by state-licensed companies to your state's securities administrator. They are sharks looking for their next meal! Maybe you dont know that in order for you to have a successful business, you have to work like a dog to build it. 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. Even if this is a legit company, the financing industry was never my thing. I was supposed to be intervied by Anthony, i wasnt. This business is in an industry that may require professional licensing, bonding or registration. Both part time and full time. Keep them going with promises of big fat contact lists. I also knew what John would say if I asked him about that one. I received a call today from a lady at Primerica, stating that someone referred me, & she would like for me to come in for an interview on Fridaybut when I asked who the person was that referred me, she couldnt give me a name. His home was nothing to envy and neither were the cars in the google image when you looked up his address on google maps. End of story. He called again. I said okshe continued to talk balg blah blah. Thanks guy- I am happy I did not fall for this prank. My advice would be to at lease go in for the fake interview, gather informatican about the company for yourself, then decide if its for you or not. Im going to trust my grandpa on this one. Financial investments 6. I went with desperately expecting to land a job . This Primerica Pyramid Scheme Review has been thoroughly researched with information and testimonials that are available online to anyone in the public. I was (and still am) working as a cashier when I was approached by a woman pushing a stroller. 24 hours later he still hadnt responded. they said a position in the company. Well, I didnt stick around to find out if it would work or not because I stopped going once me and my mother got a bad feeling about the company. I then took a step back and thought, dissected the business model for my own benefit and thought what I would have to do to be successful at it (I over analyze everything from both sides). Talking on the phone isnt my strong suit so I just kept agreeing to everything and she was very busy but still managed to schedule an interview for later this week. *In Canada, trademark(s) of the International Association of Better Business Bureaus, used under License. Bogus, obviously. After I finished that, David came in and started his pitch. I wasnt amused. Here is another good read that breaks down how much the corporation makes just from recruits, and reps: 5. After realizing her main focus was getting recruits I began to question this whole Primerica thing. I filled out the basic information and then realized they asked for social security and began to question him. Pull out your phone. He then asked me to write down 25 people in my contact list over 18 and he would call them for me to see if they would buy insurance and give me part of the profit and get me started. Enter your User ID and click Sign On. The interview asked me only 4 questions and asked me to sign a contract looking employment form and said that I need to pay 99 dollars to pay for a background check and that i need to get a license. I dont remember the exact wording he used, but I do remember that he was vague enough to leave me feeling like he was offering work with a financial business. Very sad to hear all the ridiculous posts, and misleading info that is pushing people away from the company. Yes many consumers arent sophisticated about insurance, which is why it can be easy for a Primerica rep to sell them a crappy product at a higher price. And my husband just hired a newly licensed recruit to help him get his new business started but has negotiated a portion of that agents earnings as compensation for helping him get himself established AND this new agent will also be splitting his fees with the broker. She never called me back or contacted me again. No, I have never been a part of Primerica. A typical recruiting ploy in Primerica is the job interview. Cons. They went through my Finances and sorted them all out and gave me a plan to pay everything off in a pretty cool schedule/plan. As of this morning, the morning after, I wrote an appology text to my 5 references and also a warning that they may be hearing back from this company asking them to get involved as well. So what you are saying is that the other insurance companies must REALLY over elevate their prices. I got the appointment with out know the many of the company, when I got there the girl asked to fill out a form with what I wanted as my career how much money I wanted to make ect, Asked for my phone number, stating that while he didnt know my situation, he would be interested in offering me a job. 4. According to their own reports, only 2.5% of their reps earn more than $36k/yr, tho even that pulls their stated average commissions down from $6k to less than $1k or less. He said to meet him tomorrow at 3:30 pm at the address he provided which was a Suite building. Later found out this company had sold my sister, whos a single mom, a massive EXPENSIVE insurance policy. 4.) He says he has Series 6, 63 & 7 brokers licenses. I had a job interview with them, after applying to places that did not have them under it. Pingback: Why Do People Join MLMs? Is Primerica a scam? : PersonalFinanceCanada - reddit Kool-aid anyone? I was approached by a company rep today at my job. Thanks for this website, now I know its a scam and Im calling off the interview!! He asked if I had a job and I said no but I need one. 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. Notice how the representative not only deceived the job seekers. Hey guys I need some help I wish I saw this before the meeting but I just got home from it. We set up the interview within a week and Ive never had someone more eager and desperate to hire me. Now YEARS later Im getting calls from them. I work retail so my hours are crazy. The whole conversation was geared towards selling me on deceptively common-sense information about what I assume to be much more complex financial decisions I have a friend who works for an insurance company, and given how much time hes spent studying for his degrees the claim that, in a few months and for $99, I could sell my friends and family (and then random strangers after that) on insurance was certainly too good to be true. Does anyone know of other companies besides Primerica that are employing these same tactics? Im not in huge need of anything, Im just exploring my options. As cool as this possibility sounded, it just seemed way off, I had many red flags that popped up and wanted to inquire on them, one of which I did, but figured Id investigate a bit first. I can see that people working for this company are preying on people who have not done their research. FIRST AMERICAN NATIONAL SECURITIES, INC., PRIMERICA ADVISORS, PFS INVESTMENTS INC. CRD#: 10111 /SEC#: 801-72263,8-26486. I felt that it was a pyramid scheme, but was trying to support people in my community, especially after dealing with a traumatic loss of a family member, who didnt have a policy. I made a decent living $30,000, but its much harder than most people even imagine and it truly does require that you do oodles of prospecting. The next person presents the sales pitch on Primericas services. My info along with my social number. And by work, of course, I mean pay them for their 36-week training course and then a monthly fee afterwards. Oh my god i think Im being sold something. I figure its a slip of the tongue and she means AtlantA, but throughout the conversation she keeps excitedly bringing up Atlantis. These companies actually have them sell their products. Ugh. 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. Just a bit of background I work as a sales floor employee at Lowes so I was pretty skeptical to begin with. I posted thatI was looking for a job and got offered an office position. When I asked about the specifics of the job, they were incredibly vague and spoke super fast. I forget even about the application, the conversation has turned political. Multi-Level Marketing Businesses and Pyramid Schemes | Consumer Advice Why keep the name of the company a secret, wouldnt they eventually HAVE to know? She wants me to go but ive been down the MLM road before and after a couple months I knew it wasnt real. I read many reviews like this before I started and while I was active. Also they said they would need to talk to my parents, remember Im a student in school so maybe it might of been valid for parental consent, but to me this was bit fishy as this may have been a way for them to start getting business off me. He went in to the building I was about to go into. An hour and a half already? No one hands you a silver platter without some work. For instance, he said Whats your favorite restaurant? Pyramid schemes are a criminal form of investment fraud in which a large return on a small amount of money is promised if the initial investor convinces new recruits to also become salespeople. (their 1.5 years, and 1 week old) yes a lot of this sounds and very well could be all bad. Like the Dread Pirate Roberts, Ive known far too many preachers to take them on their word alone. So there really wasnt an option for riders. they quickly muttered PFS. I left indicating this was not for me, but wasted valuable time for something, from the on-set, which I indicated was not at all of interest, on her pretense it was a support job. Question you investigate insurance fraud correct? Very creeped out. The guy who stated the *69 comment, yes that does call back the last call, so why tell someone that you are blocking a call and why are you calling back a number that you already talked too?!?!? The insurance of Primerica is a company that is only said to scam people, using the method of false information, I have been 7 years with this life insurance and I am trying to cancel it because every year they are raising the price a lot, and tried to cancel and they are collecting my savings that I have in this policy, Last year I sent my cancellation letter and they do not want to cancel my insurance, I will have to ask for help from the government of *******. I know of plenty of people who need a job but now I dont think this company is legitimate despite the nice phone call. Almost everyone involved in MLM is guaranteed to lose money. The money received from the new recruits is used to pay off the . Overall sounded ok but things started to not add up. I said no and he sounded surprised. I tell her I would like to do more of it. In Primerica, the goal is to recruit. And a sidenote when I exchanged info with the wife in target her android phone had an app on it where my full name showed up on her phone. People are much savvier now a days and really hate a sneaky recruiting pitch. I had an interview scheduled for tomorrow, but something was really fishy about the entire thing. He signed on right there because he was impressed with their house. We have 40,000 new clients each month if you joined and didnt work, youre not one of the people who make money with us! I am a young college student interested in Investment Banking and was told by an ex-financial advisor at a prestigious firm who attempted to act as my mentor to join. I must be remembering wrong I tuned back in just in time to hear him say, well, have you ever heard of Citi? then pause. And since the beginning things felt off. Then she texted me and asked to meet her this week for coffee. And in response to that someone wrote to me the following: Hello Good evening, I work for Financial Services Office. Im on vacation. The man calling me in for an interview was very abrupt and gave very little information, besides the address and time. I finally ended it telling her Im sorry but no and she said thank you and turned her back on me. Turning people away from God will eventually turn you away from Him and all his promises for you. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. Anyone who lasts with them is a masochist. Top investment analyst recommend company in books, on the radio programs, and on TV programs. He stepped out of the office and I could hear him sound like he was talking to either a customer or another interviewee. I start to feel under-dressed in my khaki pants, short-sleeved button-down shirt and silk tie. We were all in this rinkadink room, looks like they rented and tried to make it look professional but it looks rushed and had meaningless awards on the walls. They are so desperate for people. Legitimate companies give you details and job descriptions. Again why have they not been charged if they are doing something illegal? At the time I was desperate for anything that could get me more money. Google what youd like but do you really think Google, a company who makes money by sponsors is more accurate than the companies that investigate for the NYSE? Thank you for providing this information! Im not saying Primerica doesnt sell legitimate insurance and investment products. At that point, I hung up and laughed. BBB Business Profiles may not be reproduced for sales or promotional purposes. New recruits today have to work much harder than recruits of 10 years ago to be successful and you have to be willing to push right to the limit of your ethical convictions to do it and the lines can get pretty blurred. If you do find yourself mixed up in something like this, please dont let it effect your perception of yourself. Thanks for this wb,I,m so glad for your comments,I ask questions and yes now I now the truth,thanks. Term Life Insurance 3. Not going to take offer with the tidbits from this site as well. i have an intervew tomorrow too, but i decided not to go after reading, thank you. I just wanted to voice my opinion. THATs owning your own business not this MLM stuff. It must be weekly, I thought to myself, no way thats monthly? So I looked up the address and found the name of the company. Like, you might be able to trick them into showing up without knowing the company name, but then what? Once reading all these reviews I called back my recruiter and asked for more details about the interview and he was vague. A pyramid scheme is a business structure that pays more for recruiting new members or distributors than it does for selling actual product. The man and his wife came to our home for a supposed interview. LISLE IL. Success in MLM is not tied to how hard you work. In fact, given his air of desperation in hard-booking like that, the evidence appeared to point to the contrary. 85% of people cannot pass insurance test. 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.