Primerica is a leading financial services provider that has been in business for over 40 years, is publicly traded on the New York Stock Exchange under the stock symbol "PRI", and is rated A+ by the Better Business Bureau iii. Primerica Reviews | What They Won't Tell You - YouTube Not lying to them about what happened either. He said there would be training and thats what my friend was getting into. They didnt get my credit card info but they have my social security number and my other info. So I looked up pyramid scam and found out its an unsustainable business in which the higher ups make money by recruiting poor unfortunate souls like ourselves. I have reviewed their annual reports (available online). I wanted to be pumped but I found it hard to ignore the fact that John had blatantly lied when the professional-looking man had asked if there were any additional costs other than the $99. These companies actually have them sell their products. John breezed through the door and introduced himself then instructed the man to sit down for a few moments; hed be right with him. I dismissed the thought as finally, after several minutes, John opened his door and beckoned the man in, intruding himself again. He specifically mentioned that he was looking for a qualified office manager and that my resume looked like I was very well qualified. I thought an in-person cash payment would be appropriate for the funds but i guess not. I asked him if i got the license would the job be guaranteed and he said yes. Like my parents support me and are very smart with their money. I have better things to do than waste my time being pitched for a scam that takes advantage of people who dont know better. Yesterday i was called by a man who said i was referred by my best-friend josh, who was his cousin. 90% of Primerica income made by 304K student training recruits that will never be licensed. I got a call a little while again and it seemed very odd. I fill out an application. Hmmm thats odd considering there wasnt a website. no phone. A common line youll hear from Primericans is that, at the very least, they will offer you an inexpensive way to learn about the financial industry. Her choice of language, and orientation rather than an interview, and the location of it (nowhere downtown but rather in a rented space in the outskirts I mapped it out) caused me to beg off, using the excuse that the location was too far for me to attend. Google what youd like but do you really think Google, a company who makes money by sponsors is more accurate than the companies that investigate for the NYSE? Contrary to rumors out there, Primerica is not a pyramid scheme. I was wincing to myself at times, man this guy could be a jackass. Thanks for all the information. Currently have a few positions available. There are 125,000+ representatives so its safe to assume there are some bad apples. This may be the part where it comes together to the point where people say they hire anyone. Thank you for the honest comments, saved me time and money. I feel really bad for them. Investment Adviser Firm Visit SEC Site. Tameka Bell, How did they make you feel captive? A couple young men were milling about in 3-piece business suits. You need to have a 1) calculator and 2) common sense to realize only the top percentile will make any livable income, in your head you think youre going to get enough sales to make six figures youre not. Oh well I showed you the PowerPoint and video?? He said he worked for a brokerage firm and was looking for managers for several offices he is opening in the area. Suddenly she whips out a sheet and starts asking me questions and taking notes. I eventually gave in and asked for her business card, she told me she had left it in her office. Went here, not knowing what it was about. Something about more information.. John said, crisply, Im offering an interview, thats the first step in the process. Needless to say, Im glad I got out of that one. I spend my time with people who show up. Another pause, then I saw his face relax a bit as he gave directions for the office and set up an interview for 6:30pm that night. Thank you guys for posting these. (Kind of like someone asking you out on a date and then you saying I have a girlfriend, they should get the hint) The guy keeps talking and says something like we should have a discussion when youre free about the position. When I ask again what is the role of being a customer service to the company, all that he is saying was that I will be talking to their clients. Multi-level marketing is not entrepreneurship. While finding this site, Ive come to learn there is an office just a few miles away in my hometown. I like helping people. Im going to trust my grandpa on this one. If you never got paid for telling people, would you still tell people about it? I studied and passed and was prepared for take the NASD Series 6 exam. Proceeded with a few more questions before telling me she and her husband ran a small business. I posted thatI was looking for a job and got offered an office position. When I asked about the specifics of the job, they were incredibly vague and spoke super fast. Ponzi Scheme vs. Pyramid Scheme: What's the Difference? - Investopedia I hope theu chok on those miions $ they made when we went public . Reading that it is a Citibank subsidiary was a surprise; that products and services are not the best value is in direct contradiction of what was said as I recall. Thank you everybody. Understanding The Tier-11 Membership Of Primerica So upset. I make a very nice income for myself with a legitimate business. One VP stated he made $21,000 last month. Told me to bring my social insurance number with me, because if I pass the info session they would like to start to work with me right away A real boss wouldnt be furious with me for honest fumbling. LOL Stacy. I am not unemployed and actually own my own legitimate business. Primerica just needs to do everyone a favor and be upfront about the type of business it is. As soon as I answered I heard someone making silly sounds and I wondered if it was someone I knew but no it was the gentleman who said he was calling me because my friend had recommended me for the job before I was a hard worker and he wanted to know if its true..we began talking for a while. That really put me off. @Tracy Coenen take a look at your life seriously baby girl because youve been mislead all your life and its time to wake up for real. Tope Trading money for honest goods and services is not a ripoff. What agencies would handle this kind of thing? Once the new recruits, the professional-looking man and a scared-looking, awkward young guy who looked about 20 and was wearing ripped jeans and left on a bicycle, had left, John was photocopying the paperwork to put in the mailbag for tomorrow. Just got a call from a Primerica recruiter, who set up a alleged interview for tomorrow. This is where it got a bit fishy. Their RVP essentially told me he only worked with people who used the product and believed in it. I actually stayed with the company and received my securities license, but could not continue due to the trickery and deceit involved. Well talk about me and what I do later. Um, alright. Looking for any advice to be offered before the impending interview.. They went through my Finances and sorted them all out and gave me a plan to pay everything off in a pretty cool schedule/plan. Nearly everyone loses money in MLM. The hard sales pitch, corporato-cult speak, and grandiose promises are like a jackhammer to my sodden, achey head. I went to the first interview today. Said I might be a good fit for PFS ambitious expansion plans in the Charlotte area. To all you haters and doubters Primerica is NOT a business for sheeple it is a bonafide business opportunity that requires hard work many people cant do it thats why the rewards are so great if you persist! He also mentioned talking with a number of people at Lowes about how bad the schedule is here as I realized later, he makes the rounds at stores like this, trying to entice unhappy people into a get rich quick scheme. Information regarding accounts at other fund companies may be found on those companies' websites. Very few people want to do the hard work thats required to succeed. I want to shake my head at me too. It came off exactly as I anticipated, money, money, money, completely scripted and complete with props and pictures. so I started to get dressed for this interview but something in my mind said look it up on the internet . She says its just a coat she found around the house she dont work there. Clearly if one can do that for another, one should be able to pocket a nice income Once she quit her little dissertation on the gap between the upper class and middle class and how the middle class can become upper class with our help, she told us to wait as she brought in the guy who had written the review for the company (5 stars. I was (and still am) working as a cashier when I was approached by a woman pushing a stroller. Having professional licenses paid for by a company and given the tools and resources to build a book of business on a part or full time basis is a wonderful opportunity for the right people. Very very glad I read this. She mentioned her husband company briefly and for someone else to pass on the info. So we exchanged numbers and that was that. I had a job interview with them, after applying to places that did not have them under it. I went up to him and asked him about the office manager role. Anyone with money who makes a good living does not discuss that in open form with people at a so called job interview be smarter than the rest of us , cancel , complain and dont let them take advantage of you. I tell her I would like to do more of it. The company also restricts what you can and can not offer to people as well. What professional business calls on a weekend? And being within the top 10% at least of the company," according to reporting by Business Insider. Primericas main financial advice is the slogan By term and invest the difference which means figure out what a whole life policy will cost you, buy a term life policy, and invest the balance of what you would have paid for whole life into mutual funds. I was an Amway distributer years ago. ALL THEY WANT IS YOUR MONEY . 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. Again, I figure worst case scenario its a connection. She gave me her spill . If you have been invited to an interview, I can tell you that someone cared about you. Came home and typed the company name into the search bar. Then I felt a bit ashamed for thinking badly as I remember Johns words to me, that he would always act in my best interest as an expert in building a business. Im generally really polite and dont want to hurt feelings, and I knew that my current work may expire in December, so I figured Id hear him out and then should I need work in December, maybe Ill give him/them a call. Forbes predicts Primerica will do to financial services what Amazon did to retail! So you see that I neither need to support myself nor expect to support myself solely via my any Primerica earnings AND you see that this particular recruiter, my agent, appears not to use the deceptive and high-pressure tactics used by other recruiters discussed above. You will lose the business and the friendship. What deity do these two preachers represent? Louisiana Primerica I was ready to mangle both of them Im so fed up with these lames at this time. Posted on . He had become quite animated now, telling the audience about what all was included for the fee. To all of the above comments and so called pros in the MLM companies, to each their own. Ive written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam. They offer insurance, investments, debt consolidation, and financial advisers. Plus who knew if they actually still earned that? Was very surprised to receive a phone call, as never applied for anything, still cant understand how did they get my phone number . No mention of the office manager position the other man had offered, so I decided not to bother bringing it up. What should I do? Everybody is making a cut on the people below them; it goes up to four level. Its headquarters are located in Duluth, Georgia, and the company offers services across the US, Canada, Guam, and Puerto Rico. At first I was very happy considering I was Highly Qualified for something, but now seeing all these comments just makes me sad. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met. Whats this guys deal anyway? They are lied to about the opportunity and I feel a responsibility to give consumers the information the MLM people will never tell them. I was leary of it so I didn`t go to meet her . I said I dont have the money (but the back of my mind I know that it is already a scam). I went in, shook some hands, and sat down listening to a spiel chock-full of confusing jargon, just nodding my head and feeding their ego while Im sure they felt like they were doing the same to me. 2. Long story short I didnt fill out the employee application because I knew right away this wasnt for me. This is too real. Finally they called me in the most boring, plain, unprofessional office ever. Later found out this company had sold my sister, whos a single mom, a massive EXPENSIVE insurance policy. if you dont have the internet, you hear about my place. after hearing these non descriptive answers at this point Im like yea, ok very high chance I will not be showing up. I tried to be professional and somewhat upbeat but also clear I despised working there. I need a new job BAD I dont need too be wasting time on BS it was so ridiculous. I must have looked confused because he said as he dialed, people are more likely to answer an unknown number than if they see the name. I was shocked I thought we werent doing anything wrong? 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. They prey on the uninformed, they want your warm market, and your warm markets warm market. Pyramid Schemes | Investor.gov Tracy did you use to do Primerica and was unsuccessful because you seem very angry with the company? But you can throw away a full barrel of apples because a few are rotten. Known as a co-founder of EarthLink, the internet service provider that . Thank you so much everyone for sharing your experiences. This affiliation between the two companies is one of the oldest partnerships inside the Primerica menu of products and is fairly popular. I got a call after meeting with someone from the workforce. I was not familiar with, Pink Truth, a website I run about Mary Kay Cosmetics and other multi-level marketing companies, http://www.thisamericanlife.org/radio-archives/episode/543/wake-up-now, http://www.cisro-ocra.com/publications/LLQP%20Provider%20Results%20(Jan-Dec%202014)%20EN.pdf, Why Do People Join MLMs? I was approached this past weekend while at work where a lady chatted me up, telling me that I had the right personality for an up and coming business based out of another city. I received a call from a rep from primerica. PFS Investments Inc Type: Mutual Fund Annual Costs: $129 Cost Details Average Expense Ratio: 1.09% Range Details Surrender Fees: None Commissions: Yes Roth Eligible Add to Compare Add to Favorites Set as My Product Enrollment and Questions Use the following contact information to enroll or ask questions. The lead asked me for $99 upfront, which I did not have. She also told me she was just leaving church lol. They asked about my work situation and I told them that I got a job a few months ago. He said to meet him tomorrow at 3:30 pm at the address he provided which was a Suite building. A customer commented to me that he was impressed by my way with patrons to our store. Person could not confirm how they got a copy of my resume, but asked that I bring my updated copy with me. My ex-employer was somewhat on the shady side. My biggest issue with most of these posts is the fact that the reps are approaching people in random public places(i.e., work, grocery shopping, launder-mats, job seeking seeking sites, etc.) Hence, the dance around questions began. Still, barely any information given. The big guy stated he made over $500,000 last year. Its such bull do do guys. He didnt even tell me the company name, I found it on his profile when I scoped him when he requested to add me, that he was a regional vice president for Primerica. She gives me, the son she never had, an enthusiastic hug and promises to call me tomorrow with all of the details. It is mostly about convincing them to but term life insurance of which, the first yr. payment is split among his upline. I figure its a slip of the tongue and she means AtlantA, but throughout the conversation she keeps excitedly bringing up Atlantis. And we are educated, if we werent, we wouldnt have had researched about primerica. Top 927 Primerica Reviews - ConsumerAffairs I didnt have time to listen to the whole message at first and wanted to Google the company before I returned his 1 and a half minute message. Oh Boy. Blah blah blah blah. If you choose to do business with this business, please let the business know that you contacted BBB for a BBB Business Profile. I will be posting this to all of my social media, explaining what a scam this company really is. She also asked me if it was true that I had management experience, which I thought was a strange question because if she had actually reviewed my resume, she would find that I indeed have about 7 years of management experience in both sales and customer service. Anyone? Tuesday evening came around, time for the interview. Once again, most people need financial help to get where they want to be. Im just worried if I tell him I thought about it and wouldnt want to proceed, he has basically ally information, Im in the same position as you i dont want to recruit others and im scared with the info they have. What should I be doing? Ironic, since recent grads are the least likely to be able to afford to pay to get into this crap. Mary clings onto it for dear life. Had he invested his 30 years with any number of other companies, he could be retiring with tons to show for it. The one thing that did get me, however, is on Google Maps, the place did not have a name. I was being complimented on how I dress, my smile and my energy,( Im a naturally energetic person) they make you feel safe and secure while your there , but right away I was put off when they wanted my bank info. 5. Term insurance gets expensive if you have to buy it each year, and investing in mutual funds is OK if you can ride out a bear market. She goes to the bathroom and I quickly text my girlfriend to come and rescue me. A page comes up that seems to refer to that but it quickly goes away and the main Primerica website comes up. Why? The company and product reputation aside, as a source of personal income they truly fall shortgenerously speaking. Yes, the office/team gets part of every sale because they play a part in every sale. (TWO not even 50 years old yet!) Ive seen people come in, get hyped up and quit their jobs, only to be screwed in a few months. He was strange, deceptive and refused to answer why he supposedly left this well-known company which had me a bit concerned. I got the call from a woman saying she got my rsum from monster. Is Primerica A Pyramid Scheme? (The Simple Truth) - I Hate Working The bottom line is that Primerica sells legitimate products and services (life insurance and investments), but sells them at inflated prices to generally unsophisticated consumers. Thanks to these comments I will not go. Wow i got a callcfrom Primerica and the guy jhon who called made it soumd legit. He not once mentioned how or why he chose to contact me. We were to ask them for a penny (hoping it would be a new penny because those are weaker/thinner than the old ones), and with the new penny we were to use the best cutting scissors ever to cut easily into the penny. Pretty amazing comments from everyone here. Appreciate it! He asked if I had heard of Primerica. Like the $1000-$2000 a month for 10-15 hours a week? I made a decent living $30,000, but its much harder than most people even imagine and it truly does require that you do oodles of prospecting. PFS Investments, Ex-Broker Under Investigation for Securities Fraud 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. She had a nice dark tan and spiky hair with maroon tips and very pale yellow roots. So glad I ran into this, a man at a store who was very charming said they were looking for employees, I have had a bad feeling about him for about 2 years now and he has called like 3 times since, every time he gives me a little more information, it all seemed very fishy, finally said I would meet up this week but would google them first. The PSF Representatives testimony at the beginning is full of holes. During the call I asked her about three times for a website link or something to see if I would like working with her but she avoided giving me the website, I had to ask her about three times till she finally gave me something, and even that was just the name of the company. No, Primerica is not a pyramid scheme. So this person who called said a headhunter has forwarded my resume to him and ask if I would like to work for them. From what Ive read, I think I am passing on my interview this week. And my husband just hired a newly licensed recruit to help him get his new business started but has negotiated a portion of that agents earnings as compensation for helping him get himself established AND this new agent will also be splitting his fees with the broker. I had to squeeze in questions as he was trying to hang up without providing any information such as what does PFS stand for?