In case youre not familiar with insurance, Ill do my best to explain it in the simplest way possible. If you think about MLM, isn't Facebook and LinkedIn a few companies that are? To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. In this post, well talk about an insurance organization called Premier Financial Alliance and why its making noise online. Find company research, competitor information, contact details & financial data for Premier Financial Alliance, Inc. of Suwanee, GA. Get the latest business insights from Dun & Bradstreet. ", "Before, Iwas making money. 800-480-5005 Fax 402-423-5102, | For Agent/Broker Use Only | Copyright 2023 Premier Financial, Inc. | Powered by. $149. On the original 2018 pyramid scheme case docket, an administrative motion was filed on March 19th. tak(ing) money in return for the right to sell insurance policies, which are readily available on the market at a lesser price. Honolulu, HI 96819-1826. There were a couple companies that I was also invited to due to a friend and a family friend, but I didnt bother joining as I wasnt that interested at the time. Haley Piper. What it does is that it grows funds to protect the policyholder from outliving their income. Money is just by product. Explain to you the system. For improved security and optimized performance we highly recommend upgrading your browser. Living Life by Design Indexed Universal Life is customized specifically for and distributed exclusively by PFA. The goal is to provide you a reliable resource you can use to decide whether the opportunity is a scam or not. 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.. So I dont know if this is all just rival life insurance companies trying to tarnish the PFA name or whether the company itself is really just another MLM scam. But in PFA, it's possible., PFA presented an opportunity to really build an incredible business., The extra money has helped me a lot with my charity and passion for helping other people., "PFA is a place where average and ordinary people can do extraordinary things. Life Insurance. Our product and platform create an opportunity for financial services professionals to grow their own business with very little startup costs. Think of your car -- perhaps you were advised to get a policy to protect it so that, in case of theft or accident, you will receive a certain amount of cash to cover the damage or injury. On December 19th, PFAs Motion for Reconsideration was also denied. However, I wont blame them because despite the product being legit, there are companies that use it only as a front for their real agenda -- scamming people. Phone number *. ", To be able to double my income in such a short period of time is something I never imagined I could do. All it says is that they are selling your dream but if I know, this is a way to attract people. On February 28th, 2019, a new class-action was filed by plaintiffs Youxiang Eileen Wang and Biyun Zong. Save my name, email, and website in this browser for the next time I comment. Because at first it seemed "too good to be true." Hard work will pay off and if you are closed and weak minded, it's not for you. Premier Financial Alliance. We protect the dreams of Middle America through a proprietary financial product that is disrupting the life insurance industry. So I have nothing bad to say about them. Founded by David Carroll (who's also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. People from all walks of life, from all around the world, have experienced tremendous success and results from the solutions that Premier Financial Alliance provides. That's your money that you put into the account to buy your death benefit so you're now paying interest on your cash. At-a-glance. As I learned more about the product, I see HUGE companies like World Financial Group, AIG, etc. Broker at Premier Financial Alliance Seal Team. As per a July 1st order however, the hearing was continued till August 20th. PFA agents or the PFA don't make money on $125 fee. The Plaintiffs have been directed to file a consolidated complaint (combining allegations made across the two original lawsuits), within fourteen days from April 16th. PFA is broker for Life Insurance Companies. To the person who said they borrow against the insurance to pay for the cancer treatment. According to allegations of an ongoing lawsuit, Premier Financial Alliance earns all of its revenue through recruitment. Defendant Premier Financial Alliance, Inc. ("PFA") is a suspended California Corporation, Entity No. Internet Explorer 11 is outdated. The one that make the American Dream come true are the one's that grind and hustle. Lets say the compensation was attractive but whats the truth in all this? ATM Finder. Is Premier Financial Alliance legit or a scam to watch out for? I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. 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. Post your questions here and have them answered by people who are knowledgeable about all types of scams. 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. This product represents the next generation of our shared success . Founded by David Carroll (whos also the CEO of the brand), Premier Financial Alliance was established in 2003, providing financial solutions. This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. 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. 1 General Admission ticket. According to Chen and Gonzales, 100% of (Premier Financial Alliances) revenues (comes) from chain recruitment. Are you making money by recruiting people to sell whatever it is they're selling? Mmmm yeah that is not for me. This is based on one of the Plaintiffs in aparallel fraud casealleging the affiliate who recruited them signed them up. If you have fallen for a scam, you can post your experience here to warn others. PFAs argument that the company and its employees are based out of Georgia was also rejected. Following the filing of an amended complaint, a second motion to dismiss and compel arbitration was filed later that same month. The plaintiffs charge that Premier Financial Alliance is a pyramid scheme and an endless chain recruiting scam. Something went wrong while submitting the form. The same day the cases were consolidated, Girard Sharp LLP was appointed Interim Class Counsel. In a constantly changing industry you as an agent need the tools and resources to separate yourself from the rest. However, if I were to choose an insurance company that Ill become an affiliate with, PFA will not be on my list. If so why would you borrow what is yours? Premier Financial Alliance have been directed to file their response to the lawsuit within twenty-one days of the filing. The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. PFA agents or the PFA don't make money on $125 fee. Will it really provide a good source of income? Do I smell something fishy? p.s. 1300 Peachtree Industrial Blvd Ste 4210, Suwanee. Just personal reference. The June 25th class-action lawsuit was filed by Plaintiffs Rui Chen and Wenjian Gozales in California. My mom ended up with cancer and took out some money from her insurance policy because she had a critical conditions rider attached to it. Now I lost $125. 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. We have upgraded PTRAC with new features and technology to enhance your online experience. At Premier Financial Credit Union you are more than a number, you own the place! Financial Calculators. 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). They get paid by insurance companies by educating the . When a company earns most or all of its revenue from recruitment, by definition, it is a pyramid scheme. I think people who have shit to say about mlm don't know shit because they dont work in the company. Notify me of followup comments via e-mail. Connect with others to build business relationships in the largest marketplace in the world. I told him I'd rather do some research before I jump in, and he understood and thanked me for coming. Easy account access on the go! On May 6th an initial case management conference for both cases was held. HOME; JOIN PFA; P-TRAC LOG IN; PRIVACY POLICY; TERMS OF USE . Career. That's for any industry you go in. 5.2 miles away from Premier Financial Alliance. Download the Mobile App. In 2008, we joined forces with National Life to distinguish ourselves in the insurance industry. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. MLM is legal business system that has been around and proven to be very efficient. Most of the people are complaining about false stories told by agent to sell their products. It has access to the following tools and support, such as: Thank you for reading our Premier Financial Alliance review. If it's through recruiting, it's a pyramid scheme. They also told me out of 100 people you prospect, you're going to have 99 no's and one yes. Equal Housing Opportunity. A recently filed RICO class-action lawsuit alleges Premier Financial Alliance is a particularly egregious classic pyramid scheme. Is Premier Financial Alliance a pyramid scheme? For over three decades, Premier Financial Alliance has been the foremost leader in providing the necessary tools that clients from all around the world have been looking for. 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. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. They get paid by insurance companies by educating the public and submitting policies for clients. My name is Vasiliy Latipov and I help ordinary folks build extremely profitable affiliate marketing businesses (even if they have no experience or list). This is our shared vision. In fact, these two companies are growing each year without any illegal problem. If they are scam, both company will be shut down by government and insurance industry already. A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. Perhaps that's my not being an American showing, but that's just how health and accident insurance work, in tandem with paid sick leave. ChromeFirefoxEdge. Also if you look and really think about it, MLM is everywhere. Community. Address Line 1 *. I've seen with my own eyes, this company change lives from consumers to their employees. PFA and WFG does not make money of recruiting people.
Come join us in our quest to bring financial prosperity back to each . I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. Headquarters Regions Greater Atlanta Area, East Coast, Southern US. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. Because the Living Life IUL policies are far more expensive than National Life Groups non-Premier Financial Alliance policy alternatives, Premier Financial Alliance agents are unable to sell these Living Life IUL policies outside of the Premier Financial Alliance pyramid. PFA may have privately organized under the Laws of Georgia as a different Stories told by agent to sell their products by agent to sell whatever it is a particularly egregious classic scheme! Constantly changing industry you as an agent need the tools and support, such as: Thank for! Regions Greater Atlanta Area, East Coast, Southern us Blvd, Suite 4210Suwanee, GA.. 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