Oops! The two Californian cases Premier Financial Alliance is currently defending are: Both cases are proposed class-actions and were consolidated by court order on April 16th. Knowledgable and experienced mentors with you every step of the way. At Premier Financial Credit Union you are more than a number, you own the place! Serve your client, Serve your team, and required always put other people first before. Address Line 1 *. Suite 289. Permanent life insurance protection with a cash value component. A specific example cited in the lawsuit is a representation allegedly made by PFA, by which. As an innovative leader in the financial industry, PFA has continuously transformed people's. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. Even thou comission 50% I wont do it because I feel guilty by stealing ppl money. 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. Let me explain to you and answer your question. 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. Haley Piper. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. In addition, the PFA agents receive a commission when they recruit a new affiliate. Thank you! Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. So I have to give you personal contacts and persuade them to join the team or to buy life insurance but I wouldn't be making any commission off MY contacts because I'm still "in training" and not a certified life insurance agent yet? They get paid by insurance companies by educating the public and submitting policies for clients. $149. As far as I know it's a legit company. Now I'm literally changing lives. This Credit Union is federally insured by the National Credit Union Administration. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. 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. Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a "particularly egregious classic pyramid scheme". Premier Financial Alliance is an innovative financial planning business that works to help clients and associates create and then actualize their financial goals. I noticed people sign up and don't do anything about it. "I love PFA because we create positive change in peoples lives. Tickets purchased by May 31, 2022. You can check more insurance companies here. 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. Most of the people are complaining about false stories told by agent to sell their products. 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. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. 155 Kapalulu Place, Honolulu, HI 96819 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. Financial Services. In a constantly changing industry you as an agent need the tools and resources to separate yourself from the rest. Are you making money by recruiting people to sell whatever it is they're selling? }; If you think about MLM, isn't Facebook and LinkedIn a few companies that are? Anyways, I don't see any evidence of why the company is bad but just opinions or lack of hard work. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. Also if you look and really think about it, MLM is everywhere. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. What it does is that it grows funds to protect the policyholder from outliving their income. So I have nothing bad to say about them. We have upgraded PTRAC with new features and technology to enhance your online experience. 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. The trick to MLM is to sign up underlings that can pay the fee. Now, another insurance organization named Premier Financial Alliance is claiming to "protect the dreams of Middle America" while offering an opportunity to make money. Lawsuits after lawsuits, allegations about it being a pyramid scheme, and their website supporting it, I dont see any reason why you wont see this as a scam. If you check Premier Financial Alliance websites, you cant simply find the products or the type of insurance they offer; rather, they focus on promoting the opportunity. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. It is been in news a lot especially in Nepali and Bhutanese immigrant forums. The lack of retail sales clearly suggests that its a pyramid scheme. 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. they never personally agreed to PFAs AMA. 5.2 miles away from Premier Financial Alliance. I actually have heard of this company for 3 years now. Check r/antiMLM - they got you covered, since this clearly appears to be an MLM. 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. 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. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. Come join us in our quest to bring financial prosperity back to each . To make money in PFA and WFG, it requires hard work and servant mentality. Financial security and freedom is an idea that all seek. This is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. Honestly, I dont see anything to like about Premier Financial Alliance. Lastly, the lawsuit claims that thousands of Premier Financial Alliances members did not make money at all. What Is Premier Financial Alliance About? Chen and Gonzales lawsuit attributes the lack of retail disclosure to PFA. Is Premier Financial Alliance a pyramid scheme? You can also subscribe without commenting. Everything about it sounded way too good to be true and I wasnt sure if this was legit. Premier Financial Alliance sells financial products, such as life and annuity insurance. Explain to you the system. I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. Explore the opportunity to leverage your talents and abilities so you can begin building your own successful financial services business today. Its total legal and make sense. Is Premier Financial Alliance A Pyramid Scheme/Ponzi Scheme? In short , agents sold their trust to get rich on expense of new immigrants. Plaintiffs Gonzales and Chen are seeking to represent a class of similarly situated Premier Financial Alliance victims, of whom they estimate there are over 25,000. https://www.facebook.com/PFA-Multi-Level-Marketing-Organization-226277401058077/, I haven't heard anything about this company but here's what showed up in web search: http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam and http://sajha.com/sajha/html/index.cfm?threadid=111838 and 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, If it feels fishy and smells a bit, I think it is wise to walk away Doug Content Director: TheDailyScam.com. 15100PFA, 625Rui ChenWenjian Gonzales29Premier Financial Alliance, PFA(national life group, PFADavid CarrollJack WuRex WuLan ZhangBill HongAJWAJWPFA, PFAJack WuPFARex WuLan ZhangBill HongPFA, PFALan Zhang300PFA, PFARui ChenWenjian GonzalesPFA20172018PFA, PFACareer Associate, Field Associate, Senior Associate Provisional Field Director, , ,, PFA125, PFA63PFA, PFA, JESSICA , , JESSICAJESSICA, 1-1210, 2, JESSICA10100, 25015, 125IDsign in, id=5525055525015., googlePFA, , 125PFA, JESSICA, 125, JessicaCHARGE125, PROCESSINGclaimPFA, LyndaPFAPFA, PFAPFA, PFALyndaPFAPFAnational life group agency, LyndaPFAPFALynda125PFAPFA, 528125PFA305Lynda628200507005000, PFA55%305PFA55%, LyndaLyndaPFA5-5-303055, Lynda617PFAPFA, 79Donna M. Ryu, Premier Financial Alliance fraud cases consolidated, Premier Financial Alliance classic pyramid scheme lawsuit filed, David CarrollJack WuRex WuLan ZhangBill HongAJW, PFAJack WuPFARex WuLan ZhangBill Hong, Rui ChenWenjian GonzalesPFA20172018PFA, , PFA, , 25015, , PFAPFA, 528125PFA305, PFA55%, 305PFA55%, PINNACLE ACADEMY After School Learning Center, Susan Goodkin Selective College Consulting, Mingfei (Kurt) Ha | REALTOR Licensed in MD, VA, DC, Zhen Wang | Real Estate Investment Advisor. 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. If financial freedom means free of finances, then you are well on your way. If that 95% figure is anywhere remotely accurate, Premier Financial Alliance appears to be a prime target for an FTC shutdown. Save my name, email, and website in this browser for the next time I comment. The business model described in the lawsuit is that of your typical no retail MLM pyramid scheme. Get your ticket. 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. The business opportunity is focused on recruiting people, and have them purchase 100 points in volumes. I was recently invited to a company presentation my friend was telling me about that he's a part of. Life insurance you don't have to die to use - it just makes sense. Plaintiffs Gonzales and Chen have opposed the motion, and a hearing to decide the matter has been scheduled for July 19th. Founded Date 2003. ", "Before, Iwas making money. Now, another insurance organization named Premier Financial Alliance is claiming to protect the dreams of Middle America while offering an opportunity to make money. 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. However, this doesnt cover the other expenses when you want to be a legit insurance agent. 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. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. On recruiting people, and required always put other people first before agent to sell products. Underlings that can pay the fee and resources to separate yourself from the rest nothing to. A commission when they recruit a new affiliate short, agents sold their to... It grows funds to protect the policyholder from outliving their income if Financial freedom means free of,. 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