Pyramid Scheme meeting tonight?

[JRSC00LUDE]

Fuck someone on my feed is doing all this positive life-changing bullshit with the hashtags 2000soulfriends and gratefultogolive, I have no idea what it is and if ANYONE asks, it's direct to DM. Fucking losers.

[Misterman]

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Still looking to meet someone local who got rich off MLM.

I ain't even rich but you MLM ppl recruiting me ain't even on my level. So sad Ya fakes lol

I know a few in Edmonton that are. Mind you they were basically the first ones in Edmonton. There is a number of 6 figure earners below them, but it would be pretty damn hard to reach millionaire status in Alberta anymore. Dean and Marcie Whalen, Ryan and Noella Olenyck if you want to google them and see what you find.

I also know another few guys doing pretty well with WFG, quit their jobs and everything.

I am not against MLM, it's a perfectly legitimate business model, essentially the way the entire sales industry is going now with Affiliate Marketing. But the spammy BS way most people utilize it turns me right off.

[killramos]

“Perfectly legitimate business model”

[GOnSHO]

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I know someone making ~$1mil+/ year with World Financial Group.
That said, I wouldn't let a single WFG associate touch my portolio with a 100 foot pole.

I personally know a couple, go golfing with them pretty often.

Sorry to hear that you dont want to be invested with some of the biggest investment companies in Canada though trebs.. (Franklin Templeton, Invesco, IA Clarington, etc..)

[Misterman]

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“Perfectly legitimate business model”

Well what isn't legitimate about it? It's just basic Affiliate marketing if you actually look into it. But it certainly gets a bad rap because any idiot can join these things, and idiots tend to do spammy and shady things.

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I personally know a couple, go golfing with them pretty often.

Sorry to hear that you dont want to be invested with some of the biggest investment companies in Canada though trebs.. (Franklin Templeton, Invesco, IA Clarington, etc..)

Oh please let me get back into IA Clarington and have them make me a whopping 2.5% a year. Where do I sign up?!!

[GOnSHO]

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Well what isn't legitimate about it? It's just basic Affiliate marketing if you actually look into it. But it certainly gets a bad rap because any idiot can join these things, and idiots tend to do spammy and shady things.

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Oh please let me get back into IA Clarington and have them make me a whopping 2.5% a year. Where do I sign up?!!

LOL dude, one fund making 2.5% and the whole company is terrible? There are HANDFULS of different portfolios & funds making more than that. Great 2nd post bud

[vengie]

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I personally know a couple, go golfing with them pretty often.

Sorry to hear that you dont want to be invested with some of the biggest investment companies in Canada though trebs.. (Franklin Templeton, Invesco, IA Clarington, etc..)

Not to knock what you're doing, or WFG specifically.

But I am related to and know people with much more education in the financial and securities world. One has had to rebuild the portfolio of two clients who had their investments decimated by a rookie from WFG.

I'd rather use a professional with an OBLIGATION to do whats in my best interest vs ulterior motives of recruitment and personal profit.

[max_boost]

Nowadays anyone can do couch potato or wealth simple. I don't trust any of these noob investors unless they can show me their massive gains.

[GOnSHO]

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Not to knock what you're doing, or WFG specifically.

But I am related to and know people with much more education in the financial and securities world. One has had to rebuild the portfolio of two clients who had their investments decimated by a rookie from WFG.

I'd rather use a professional with an OBLIGATION to do whats in my best interest vs ulterior motives of recruitment and personal profit.

Wasnt the agent doing anything with those portfolios, just the broker for the client and the investment company. A Risk assessment is ALWAYS done before moving/investing any money with the fund companies, which has to be signed off by the client. We as agents do have an obligation to do whats best for our clients, there is a minimum of one follow up a year, but for most of us its once every month or cpl months to make sure youre happy, looking and watching our AUMs everyday to make sure nothing looks off..

Again, 1 or 2 bad apples doesnt make the whole tree bad. There are unethical/terrible people in EVERY profession, ours just happens to be one of the highest regulated in the world so they dont get to stick around very long.

[Misterman]

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LOL dude, one fund making 2.5% and the whole company is terrible? There are HANDFULS of different portfolios & funds making more than that. Great 2nd post bud

Well as someone who actually had them managing my LIRA for 5 years, I wouldn't give them great reviews. You're right there is lots of portfolios making well over 2.5%. The question is why doesn't WFG recommend moving your money to one of those? Instead they keep you in some underperforming fund making nothing. That's the issue with having someone who doesn't know anything about finances sell you a cookie cutter financial plan. Comes back to my other comment about MLM's allowing anyone to join being their downside.

I've got well over 2 posts now. Not sure why the post counter doesn't work on this forum? And I'd have a bunch more if they were able to approve a profile in under 3 months.

[ExtraSlow]

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I've got well over 2 posts now. Not sure why the post counter doesn't work on this forum? And I'd have a bunch more if they were able to approve a profile in under 3 months.

The post counter thing is secret. Shhhhhhh!

[GOnSHO]

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Well as someone who actually had them managing my LIRA for 5 years, I wouldn't give them great reviews. You're right there is lots of portfolios making well over 2.5%. The question is why doesn't WFG recommend moving your money to one of those? Instead they keep you in some underperforming fund making nothing. That's the issue with having someone who doesn't know anything about finances sell you a cookie cutter financial plan. Comes back to my other comment about MLM's allowing anyone to join being their downside.

I've got well over 2 posts now. Not sure why the post counter doesn't work on this forum? And I'd have a bunch more if they were able to approve a profile in under 3 months.

I have MULTIPLE clients with IA making WELL over 7-10%, we can only recommend so much based on a risk assessment that YOU as our client answer and sign. I can say you will not get the returns you are looking for at that level but in the end I cant put you in something higher risk than the assessment says unless you sign off saying you understand the risk.

I have clients in super conservative portfolios who just want a little bit of growth and keep the risk super low and I have clients in very aggressive growth funds/portfolios as they understand higher returns come with higher risk.

If whoever you were dealing with before didnt explain this properly than they were in the wrong and can only say what myself and my team/agency do for our clients.

[Misterman]

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I have MULTIPLE clients with IA making WELL over 7-10%, we can only recommend so much based on a risk assessment that YOU as our client answer and sign. I can say you will not get the returns you are looking for at that level but in the end I cant put you in something higher risk than the assessment says unless you sign off saying you understand the risk.

I have clients in super conservative portfolios who just want a little bit of growth and keep the risk super low and I have clients in very aggressive growth funds/portfolios as they understand higher returns come with higher risk.

If whoever you were dealing with before didnt explain this properly than they were in the wrong and can only say what myself and my team/agency do for our clients.

LOL. My risk tolerances were all checked off as the highest risk.

Once again, this is the problem with allowing any Joe Blow to sign up in these things. It's fine to have sales people go out and hock your Mutual Funds and Insurance. But a certified investment guru should be reviewing things to ensure integrity when it comes to personal finances.

I have since switched everything to a guy at Edward Jones, and now that I have a lot more control over my own money I'm up 20% this year.

You might very well be one of the good ones in WFG. I've made no slight against you. But WFG as a whole cannot have a good rating in my books, due to the fact that there is no consistency among the organization. You might be great at what you do, a lot of other guys in your position are not. And those guys would never be certified to manage someones entire financial future at an institution with a more rigorous employment process.

[GOnSHO]

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LOL. My risk tolerances were all checked off as the highest risk.

Once again, this is the problem with allowing any Joe Blow to sign up in these things. It's fine to have sales people go out and hock your Mutual Funds and Insurance. But a certified investment guru should be reviewing things to ensure integrity when it comes to personal finances.

I have since switched everything to a guy at Edward Jones, and now that I have a lot more control over my own money I'm up 20% this year.

Also why they arent allowed to do any work before going through all the proper education and getting a government issued license. All paperwork goes through headoffice and needs to be approved but a fund in a lower risk than what the assessment says goes through as it doesnt go OVER the risk.

Glad to hear you are up, Edward Jones is very well known for having massive fees. I moved a client who was paying upwards of 6k/yr in fees and making BARELY enough to cover that.

[dirtsniffer]

Only posts in auto sub forums count ya noob

[ExtraSlow]

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Only posts in auto sub forums count ya noob

Great, now you told him.

[Mitsu3000gt]

Why am I not surprised to see Misterman in here defending Amway Just look at his post history and you will see he is clearly just trolling. Don't waste your time folks.

[Type_S1]

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Also why they arent allowed to do any work before going through all the proper education and getting a government issued license. All paperwork goes through headoffice and needs to be approved but a fund in a lower risk than what the assessment says goes through as it doesnt go OVER the risk.

Glad to hear you are up, Edward Jones is very well known for having massive fees. I moved a client who was paying upwards of 6k/yr in fees and making BARELY enough to cover that.

Here’s a few questions I love to ask “financial advisors” working for these places.

Where did you go to school and what did you major in? Do you have your CFA? What are you credentials? Do you manage your own portfolio of stocks, and if so, what was your last 3 year returns? What sectors are you most well versed in and tell me about the top companies you recommend and why?

Fact is, most “financial advisors” selling mutual funds are financially illiterate and completely unqualified. They find anyone off the street to do this stuff, much like other culty sales jobs, it’s just sales with no knowledge behind what they do.

[max_boost]

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Here’s a few questions I love to ask “financial advisors” working for these places.

Where did you go to school and what did you major in? Do you have your CFA? What are you credentials? Do you manage your own portfolio of stocks, and if so, what was your last 3 year returns? What sectors are you most well versed in and tell me about the top companies you recommend and why?

Fact is, most “financial advisors” selling mutual funds are financially illiterate and completely unqualified. They find anyone off the street to do this stuff, much like other culty sales jobs, it’s just sales with no knowledge behind what they do.

Like the service advisers at most dealerships lol

[ercchry]

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Here’s a few questions I love to ask “financial advisors” working for these places.

Where did you go to school and what did you major in? Do you have your CFA? What are you credentials? Do you manage your own portfolio of stocks, and if so, what was your last 3 year returns? What sectors are you most well versed in and tell me about the top companies you recommend and why?

Fact is, most “financial advisors” selling mutual funds are financially illiterate and completely unqualified. They find anyone off the street to do this stuff, much like other culty sales jobs, it’s just sales with no knowledge behind what they do.

I would say WFG would be focusing on slightly different things than say an advisor with a CFA at an IB firm. They should be focusing on their regular joe client’s total personal financial decisions, then attending educational meetings on the products they are offering and acting as a middleman between client and IB firm... not a financial expert on the actual investing side of things.

That being said... I did get caught up talking with a (turned out to be) WFG rep and the statements he was making about mortgages was dead wrong. But the cream always rises and all that. In my industry it’s the same way. Lots of uneducated fools, but the ones making the actual money are bright