pfs investments pyramid scheme

Needless to say I found this thread and wont be putting anymore thought or effort into it. I totally see it now. I dont. So glad I did! A woman approached me and complimented me on my bag, asking me where I got it from. A phone call is more personal, and taking down someones number to give to ones own trainer is the model we use. Luckily, I was sitting next to her so the moment she said it was from Primaerica I told her it was a scam. So, I was interested and I REALLY loved the couple and was glad to see and hang out with them after so long. I have an acquaintance from Facebook who floods my news feed daily with this Primerica crap. Louisiana Primerica Again why have they not been charged if they are doing something illegal? I Googled the address and found out it was Primerica. Those people in Primerica dont know enough about it to investigate, and once they find out the truth, its really hard for them to save face and quit. Look this up on Wikipedia, the very unusual and very unique model that Primerica uses. There was some meeting in another room which cheering and whoops could be easily overheard. Because who wouldnt want to make money a % off ur recruits even when your not there to make the deal.We scheduled another appt. Primerica offers a variety of financial products and services to consumers through their nationwide sales force. Everyone was extremely nice. Baffled, I shook my head. I gave him my phone number and when I asked him for a business card he said he did not have one and went on to talk about how he makes 3-4k a weekyeeeaaaah. SHe is paying double for the same thing. I then told him Im not interested. Are you saying that all the people who commented on this thread that they participated in a fake job interview like this are lying? I would suggest insurance agencies and companies like Edward Jones. You would think that this would be BEYOND retirement for people who are setting themselves up with residual income. I said Ill give you 10 mints & w/big smile he say thank you & went back to the rm. I seem to have ulterior motives? The Financial Industry Regulatory Authority is accusing former broker Barkley Lundy, who worked with PFS Investments, of defrauding at least 20 customers.The self-regulatory organization claims that from at least 1/11 through 3/14, Lundy took these clients' funds and placed the money in his own bank accounts. Given my lack of experience, I was not sure if this was normal or not. She gave very vague answers, told me her secretary referred me and that she worked for a financial firm looking to hire about 20 people to work as trainers. I remember hearing negative things about Primerica, but that was in the late 90s. Its neither a retirement fund, nor life insurance. I, pretended was interested, really put on an academy award performance. Im kind of worried they have ALOT of personal information about me. It was sure better than his you guys arent doing anything, youre being a bunch of losers talks he usually gave at training meetings. 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. Replied that I was actively seeking a second job opportunity, so without disclosing a last name I wrote down my given name and phone number. It was basically a skype interview, although it was a group interview (which they didnt tell me) and nobody else in the group showed up. I will be posting this to all of my social media, explaining what a scam this company really is. I asked, how can I be that guy? (pointing to the top of the pyramid). They have to recruit their own people. Finding your own customers and future work is real work. Finally, in the course of mulling this decision I have read at Primericas own website that new life insurance agents earned $6000/yr on average in 2013, I think was the year cited. He had been eyeballing me since I walked into the store. Being very analytical, I would have not had a good interview with another manager in a different company. As far as heightened prices if this is the case how is it that their clients save money on the services? When he called me I was busy and asked him if i could call him later. 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. 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 eventually gave in and asked for her business card, she told me she had left it in her office. For 5 years, Primerica has been paid automatically from my bank account. Many of them, have a question mark still attached, which makes me wonder if any resolutions were achieved in those cases. As soon as I saw Primerica I KNEW it was a scam. With a one-time fee of $99 and a monthly fee of $25, you can make more than your startup cost in less than a month. Turns out that of the top 25 life insurance companies out there, Primerica is at number 22, and they have a very small share of the entire life insurance market to begin with, even though they have more agents than every other life insurance combined. She asked if I wanted change of career. But to shut down a business just because over 100 of you said it was crap and the rest followed after you did your own research. (Thanks to all post-ers). Coincidentally, that same company has had the worst passing rates, by far, of all insurance trainers in the entire country, for the last 10+ years; Thank God I found this article. Multi-level Management is a pyramid/ ponzi scheme. I figured she hired her son to do her social media campaigning and he was just barely starting/lazy. He made me give him my SOC over a zoom call, he was filling out an application for ME! MLMs are legitimate but a prospectus or other similar vehicle should be required for prospective recruits just like a stock or mutual fund offering, identifying exactly what fees are involved and what is specifically required of the representative. It seemed to good to be true. Needless to say, Im glad I got out of that one. My husband got upset since he was at work and called her back and said no thanks and she said that she could put her husband on the phone to talk to him and try to convince him, my husband heard him out and said no thanks again to which he tells me the man was not happy and cut him off and hung up on him. I thanked the VP for the opportunity and ended the call. I finally ended it telling her Im sorry but no and she said thank you and turned her back on me. Please please please stay away from this scam!!! You all have it wrong, you all WANT to see that this is a scam because It looks too good to be true, and it IS, if you have zero work ethic, and refuse to give yourself the opportunity to have a better life by actually applying yourself to something that isnt a 9-5. I already work full time. 2.Investigations of Allegations of Wrongdoing The compliance structure at PFS included two primary procedures that could detect wrongdoing on the part of registered representatives. Mike No matter what they tell you, MLM is not a business. I realized what it was after that meeting immediately. http://www.cisro-ocra.com/publications/LLQP%20Provider%20Results%20(Jan-Dec%202014)%20EN.pdf, Anyone who can defend the morality of the scum who works and represents this company is just as bad. She gave me this speech about how she is the General Manager and that she was opening various locations and needed people. Afterwards I was a little bit unsure Id made the right call I am unemployed, after all, and work is work so I googled Primerica Scam. I have been in touch with the funeral director that handled the services for my father off and on. This is how Primerica works. So I looked up the address and found the name of the company. They guy even scratched his back while slumped into his chair. Im not interested at all. Googled my way here. After reading the warm market info in the above posts, am kind of leary. The people that I know who were roped in were all pretty dumb with no college education and in a dead end job. I noticed several of the new people in the front row looked very restless, like they just wanted to get out of there. He seemed so angry, I thought. Jeb- If you read most of these comments then you should already know that half of them was approached at their job like myself. Did he expect me to conduct this interview? Call away, I figured. Fortunately, my paralysis didnt last long. I was in Primerica back in the early 90s when it was called PFS (Primerica Financial Services). He launched into his clearly rehearsed and scripted talk. The theory is this approach will provide a greater rate of return compared to the paid-up dividends of a whole life policy. Hadnt I just provided 5 local contacts? 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?!?!? Many new agents are brought into insurance sales through Primerica's recruiting effort. I am promised that PRIMERICA will essentially turn me into a hedge-fund manager for Charles Schwabb in time. No, Primerica is not a pyramid scheme. The caller introduced himself as the vice-president of a Hudson based company and told me that he had found my resume online and that he is looking to expand his company and is interested in adding some people to his team. i joined primerica, i drank the kool-Aid thank god i did!!!!! She wants me to go but ive been down the MLM road before and after a couple months I knew it wasnt real. I suffered through the classes only to never hear about my financial planning budget ever again because my reps had no idea how to put one together. If you do find yourself mixed up in something like this, please dont let it effect your perception of yourself. Not lying to them about what happened either. I figured that was the end of it, but she kept calling for a week after. Peace and blessings to you. 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. Not going to take offer with the tidbits from this site as well. Never going to a meeting after invited and said you would. She said that if, following the interview, she liked what she saw, the business opportunity would be discussed further. We finally found David. No one hands you a silver platter without some work. Joe get Sally a $800 annual premium, (depending on your team members rank)(entries are REPs 25%) Joe will earn 25% of 800 =200(ONLY ONE TIME,THIS ONE TIME), (PYRAMID TIME) the remaining flows up the tunnel 75% (depending my rank) REP 25%, $200. Anger gave way to fear.. what if I interviewed him and messed it up and he stormed out of here angry and calling it a scam? He acted surprised that I had not. I was approached last night while grocery shopping at Star market. He also deceived the new Primerica representative, telling her that he was helping her and teaching her how to recruit people into her downline, only to keep some of the recruits for himself.