As one of their largest distribution partners, we continue to work hard to protect families and bring peace of mind to everyone we touch. Awesome. 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. Affiliate membership requires payment of a $125 fee. Premier Financial Alliance affiliates are promised. The PFA lawsuit is still playing out. Looking at the case docket, Premier Financial Alliance have thus far failed to respond to the lawsuit. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. Premier Financial Credit Union. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. Talk to the one who invited you. Notify me of followup comments via e-mail. Nowadays, people can sue people, company sue company every day. If you are interested in becoming a High Ticket Super Affiliate, click on the link below to watch a Free Presentation that will reveal the formula 2021 by Best Lifetime Income Corp. All rights reserved. There are lawsuit against PFA, but they are all denied. Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. ", "You're never too young for life insurance. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Multi Location Business. Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. 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 is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. 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. The plaintiffs were given permission to file an amended complaint by August 2nd. Connect with others to build business relationships in the largest marketplace in the world. We Constantly Review Programs in "Make Money Online" Niche, So That You Don't Have to Waste Countless Hours, Premier Financial Alliance Review Summary. That could be problematic because more or less, they will do their best to persuade you in joining the program. 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. Welcome to Premier Financial Alliance. No one makes money until a sell is make. If you have questions or comments, please feel free to share them below. 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. Access all general sessions Sept 25-29, 2022. I think people who have shit to say about mlm don't know shit because they dont work in the company. Life insurance you don't have to die to use - it just makes sense. I actually have heard of this company for 3 years now. Welcome to My Premier Financial Alliance Review! We provide all types of Insurance, Auto, Home, Renters, RV, Motorcycle, Health, Group read more. Read More. I wont sell this Insurance to any my friend or family. 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. Its not just in case you die - it's to live a life you love. 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. 155 Kapalulu Pl Ste 289. No compensation plan. Applications must be postmarked by March 1, 2023. $125 is a one time fee for website up keep since you will be using it often for business. When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. 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. Recruitment is wrong for many reasons. With the help of Premier Financial Alliance, you can begin to receive the necessary tools needed to turn this into a tangible reality. 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). If you have to pay to start working for them, they are not a company you want to work for, no matter what they promise. theYear = now.getYear(); The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. This is my experience and I hope you got some thing out of it! 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. And obviously you won't get any results that way will you? Do you actually know people to whom you could sell insurance, or whom you could recruit the way your friend did with you? Internet Explorer 11 is outdated. 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. Thank you! In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. 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. Worse, if its proven to be a fraud, your name might be dragged in it, too. 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. Financial Services. For over three decades, Premier Financial Alliance has helped thousands of people reach their sought after financial independence. Living Life by Design Indexed Universal Life1 is customized specifically for and distributed exclusively by PFA. PFAis leading the way in the cause to educate Americans about the Living Benefits story. Confirm Email *. While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. 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. This, the lawsuit states, comes at the expense of selling insurance policies to retail customers. I liked the life insurance product and the fact that you can use it in emergencies but I did not like their recruiting strategy. in Life Insurance, Auto Insurance, Home & Rental . Once you are license and trained, you make a sell to a client, thats when you and the company make money. 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. Once they pay the $125 membership fee and buy the . Anyway, insurance, from the word itself, means guaranteed or assurance. PFA is broker for Life Insurance Companies. A case management conference has been scheduled for January 13th, 2020. Create an account to follow your favorite communities and start taking part in conversations. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. With respect to the previously referenced parallel fraud case, a similar December 19th order denies arbitration and venue transfer too. 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% . 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. About us. 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. 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. In fact, these two companies are growing each year without any illegal problem. Find locations. She used that money to pay for her treatments. Premier Financial Alliance Insurance Pyramid Scheme Complaint. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); Ever wanted to have a super profitable online business but lack the ability or desire to create products and struggle to drive traffic, generate leads and convert sales? January 12, 2022. You're out $250 for the "product", and their site has no mention of any product except a business system. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. Our associates are supported by a first-class team that is as passionate as you are. I dont like MLM. Your submission has been received! Premier Financial Alliance. 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. you can see add online where a guy boasts he can help you make $28000 dollars per week. The decision to deny reconsideration was based on PFAs. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. With links to many carrier microsites that provide sales ideas, advanced planning and marketing pieces a wealth of information is at your fingertips. Just personal reference. Disclaimer | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by iPipeline, 5955 S. 56th Street, Suite 2, Lincoln, NE 68516 Ph: 402-423-5002 Ph. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. 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. Haley Piper. Founded in, 2021 headquarterlocation.com. The trick to MLM is to sign up underlings that can pay the fee. The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. How Much To Join Premier Financial Alliance? Permanent life insurance protection with a cash value component. 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. now = new Date; The court also noted that so many of PFAs affiliates reside in California. However, this doesnt cover the other expenses when you want to be a legit insurance agent. This naturally raised the question of what Premier Financial Alliances core priority was. 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. PFA agents or the PFA don't make money on $125 fee. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. In response to Plaintiffs Rui Chens and Wenjian Gozales pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration. They are the cry babies and whine about not getting good hand delt to them. At Premier you will always talk to a person and not be trapped in a digital phone system. 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. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. 112 were here. 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.. this Insurance MLM they are stealing ppl money. Daily lunch (Sept 27-29th) Early check in September 25, 2022. Something went wrong while submitting the form. Premier Financial Alliance Compensation Plan. The best way to know is have your friend explain to you how PFA make money. Mmmm yeah that is not for me. $125 is a one time fee for website up keep since you will be using it often for business. 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. More or less, it follows a multi-level marketing (MLM) structure that lets people earn by selling their policies and at the same time, growing their team. ", To be able to double my income in such a short period of time is something I never imagined I could do. Well, if you check on FTCs guide on whether a program is a legit MLM or a pyramid scheme, it says that one red flag is that they focus primarily on recruiting other people; not on selling their products. They get paid by insurance companies by educating the . What it does is that it grows funds to protect the policyholder from outliving their income. "The financial benefit let me focus on the healing and recovery and not having to worry about losing my home. Only difference? However, the presentation did bring up a couple of interesting points in terms of life insurance and a retirement plan. Premier Financial Alliance Seal Team Business details. That deterred me from committing. June 25, 2018. On December 19th, PFAs Motion for Reconsideration was also denied. Money is just by product. This is our shared vision. So I have nothing bad to say about them. So, youre looking for a source of income that wont put your name and money at risk? Stay tuned for updates as we continue to track both cases going forward. You don't know what you are talking about. 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). Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. Our access to top level contracts from our carriers allow us to pass on to our agents some of the highest payouts in the industry. A second premier financial alliance to compel arbitration in the event reconsideration was based on one of the Plaintiffs were permission. Necessary tools needed to turn this into a tangible reality are growing each year without any problem! Looking for a source of income that wont put your name might be dragged in it, too it. The expense of selling insurance policies to retail customers for 3 years now,. So many of PFAs affiliates reside in California ) ; the court also that. Get paid by insurance companies by educating the they emphasize the opportunity more than anything else order denies arbitration venue... Company make money selling insurance policies to retail customers in case you die - 's! 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