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Ive read just about every comment and I am not going after all. Primerica "pyramid scheme" Reviews | Glassdoor Joke of a company, I hope it goes under. What Is A Pyramid Scheme? - Forbes Advisor Multi-level marketing is not entrepreneurship. But again, Im still chewing on this and your thoughts on these matters are appreciated. If anyone has been approached, RUN!!!! The first inkling of a warning flag went off in my brain. thats why Im not going back they called me 3 time to reschedule but I did not pick up the phone. Im sure people are saving money, but something doesnt feel right. PFS Investments, Ex-Broker Under Investigation for Securities Fraud Some of the stories and comments above have been really sad. she never asked for a resume or any back round on me never told me the name of the company until I asked her today . I told him I may know a few but what roles does it involve, what type of work, is there anywhere I can view more information? He said he worked for a brokerage firm and was looking for managers for several offices he is opening in the area. They get half the money of everyone below them. etc. Every person recruits, and everyone below them recruits, and everyone below them recruits, and so on. Their 6 digit earners boast is misleading as its a cumulative, not annual figure. Hopefully she has read all the history on this company and so on. I called her back a couple days later and she scheduled an interview for this coming Monday. Im a server and i waited on this guy and his family. Also, there is nothing on my LinkedIn profile that indicates I have any financial talent. It seemed way too good to be true, i was literally thinking to myself If this is real, I can finally afford college. The man who was telling me about the opportunity was upfront, and I kill myself working two jobs. (applied for this position on Craigslistthe number I received the call from was 347-753-3377). Two days later, I find out that he hasnt paid the bill on the employee health insurance, the insurance lapsed, and now people are getting medical bills that were supposed to be covered. He wasnt really giving me a clear description of the job, but I still heard him out. Deep down I felt angry.. what part of this was training to help ME? I wouldnt say I was victimized. It unfortunate that anyone that has been told that theyre having a job interview and later feel that they got taken. A lot of people here who are unapologetic in their refusal to show up to a meeting they said they would go to after doing research, coming down on agents about ethics. Everyone gets invited to stay for the informational session, and everyone will be strong-armed into signing up as a representative. No mention of the office manager position the other man had offered, so I decided not to bother bringing it up. I told them that Id have to think things over, though it took a couple of times for me to say that so that they understood. This other guy was pleasant enough, introduced himself and politely shook my hand. I asked him if I should bring any specific documents with me and he abruptly said no and that he simply wants me to come in and talk with him first, also adding there would be some forms one of which would include qualifications I have and work history. No, Primerica is not a pyramid scheme under the laws, because when you are investing $99 in this business, you receive a service, 2 days pre-licensing class. 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. How likely is it that they can manage to fool all 50 of them? In light of this information, I will be canceling. In order to be on the NYSE, you have to be vetted. A little bit of time, perhaps? I am not unemployed and actually own my own legitimate business. The place where we met was super creepy, also. The meeting starts after like 30 minutes past I still dont understand what I would be doing so I start asking questions about the company and I was told the company name is Prime America and how there is no website but that the company is one of the biggest companies in the world. No, a regular job is not like MLM. They asked about my work situation and I told them that I got a job a few months ago. Was very surprised to receive a phone call, as never applied for anything, still cant understand how did they get my phone number . I thought that was weird; if youre going around job recruiting at Target, you should probably have a business card. For only $99 you can be licensed to sell insurance to others with us. My only concern is these two know where I work. The VP Mr. Very sad to hear all the ridiculous posts, and misleading info that is pushing people away from the company. We talk for a second longer, she makes a point of showing me her expensive car and vanity plates (I realize now how often she was trying to make displays of wealth from the moment I met her). I have another so called meeting tonight with him. I figured she hired her son to do her social media campaigning and he was just barely starting/lazy. Red flags went up immediately obviously he was looking for someone for sales (ugh), and though he wanted to meet immediately he also invited me to a presentation he was giving that evening so I could get a better understanding of what he was about. Puffing up a business opportunity does not translate into real business skill. Glad I dug in deeper. I got there 15 mins early they kept me waiting for 30 while having a buddy conversation. He never mentioned an upfront fee, but if he does Im done with these. I asked who the person was that referred me and the lady laughed and then said a name, and i did know someone named that but i hadnt talked to him in a year. They pitch like they are one the same level as other insurance companies. A man named Jack has recently added me on Facebook, first thing I check for with people I dont know adding me is their friends list, their About section and the consistency and validity of their posts to make sure theyre real and not some spam account. They want to interview me tomorrow at 1pm. It is a shame that there are companies out there who still make money off these scams. She said they were just getting established here. While finding this site, Ive come to learn there is an office just a few miles away in my hometown. I dont know man. He frowns and shakes his head at me. As someone whos in commission sales- I feel bad for people who fall into companies like this one. I retired from a 20 year career in the U.S. Air Force in 1993. I did the hard work, but realized that I am was more ambitious than most. what kind of car would you like to buy? The location seemed extremely sketchy too. An mlm opportunity is not a pyramid scheme when it promotes and sells products or services, not just memberships. Ive spent 175$ in total so far. That you have to buy your own business cards even? Within a couple of hours. The only way to collect on a life insurance policy is to live to be 100 years old, providing your policy goes out that far. Then he started talking about me bringing in names of people to add to my team for my business. He told me that I would make more money by bringing in people. He didnt mention anything about a resume which made me wonder. Tracy, I would be interested to hear any counsel you have for me, as I am planning to attend a Primerica information event for potential sales staffers 48 hours from now, BUT my circumstances differ from those of most posters above. I feel so used and abused, and the trust is gone! When I sat down with the guy, it felt less like an interview and more like a sales pitch like you guys said. I just received a call earlier today. Im scared after reading all this that i fell for this scam and now he has all my info. That drives traffic to this page, where potential victims are getting the real story and are able to avoid the company! He told me about how his grandfather started the company and now his whole family owes everything that they have to Primerica. Will do anything to hire people. I looked him up a few months ago. Do they mention that you will need to pay $30/month just to be able to access their online program? I like to hear about the successes towhat did you find out about those that succeed at this? They do use a multi-level marketing business model but they are definitely not a pyramid scheme. 4.) I just didnt understand.. when they hired me on they told me that referrals would pour in and we never cold call.. in fact the company prohibits it! complete with fake hearty chuckle. She sits me down and she gives me usual scripted mumbo jumbo how Primerica gets people out of dept through education, and how their life insurance policy covers families and how I can make $1500+ only working about 15 hours a month. There are plenty of traditional types of jobs that do not require college but that pay much more than $10 to $15 per hour if the individual is willing to work hard to learn the job and move up. He then tried to get my bank account info right after and I just barely made it out of that. Then a few weeks later, comes our leadership retreat. Her mistake was telling me this could be part time. She chats up the bartender who seems wary of her. Its performed nicely and Ive never had any problem with the company from my standpoint as a customer. It must be weekly, I thought to myself, no way thats monthly? I answered and then asked what company he was calling from, something like Frontier Financial Industry and then he mentioned it was owned by Primerica and I immediately let him know that I was not interested. My time is precious and sitting down even to waste her time wont be worth it. You need to pay 99.00 for a background check and need my sos and license. Pretty amazing comments from everyone here. I knew that a job selling insurance wasnt really up my alley, and my intention was to leave the first opportunity I got, but that opportunity came when they asked me to put down $99 for an investment licensing class. Well! Im not joking whatsoever. Thank you all for this i guess i wont be going to that appointment today. lets protest guys!!!! Unlike working at a job where, if you do something great, your boss yells at you because you make them look bad. (their 1.5 years, and 1 week old) yes a lot of this sounds and very well could be all bad. also I asked for what position ? Would they use it if I dont show back up? All of his uncles work for Primericaeven Uncle Doug!! I was approached by a husband and wife in a Neighborhood WalMart store. It looks like even the Better Business Bureau has a number of complaints lodged, about this company. this is defamation. Ha!!!! I arrived at the interview and when I walked in the door I heard LOUD hard rock music playing. Never missing a payment! and there was one review on the place, a 5-star rating with no comments added. He also stated I would be refunded once I completed a certain portion of the tests. I was interviewed and he said that there will be second interview by his boss and at the same time their VP. I have an interview with them today which after reading these helpful post I will definitely not be going. * What is a pyramid scheme exactly? What a waste of human DNA both of them ! I got up to follow the man into Johns office but he closed the door. Sobeys. Id really like to figure out if it is the company that is the problem, or just some of the people in it. Primerica Review Summary. Anselm of Canterbury, this still goes on. 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. The recruits are required to invest money into the venture, pay membership fees. One of those analysis of Primerica showed how that it is nothing more than a game where you dont really make any money, and its all about recruiting and selling over priced term life insurance. He did have an office, yes, but that doesnt necessarily mean he made the money to keep it afloat. He told me he has to go through clearance and apparently he is abusing this priviledge. 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. She says its just a coat she found around the house she dont work there. To proceed it was a lot of paper work, like basic info, bank info and contacts. 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. Life insurance is a service, and just like any other service, someone can come along and provide the same service for less money. I cant thank you enough. I am so ashame to be same species as John adison and glen williams . I had a job interview with them, after applying to places that did not have them under it. They are sharks looking for their next meal! I like helping people. He said they are looking for people to sell financial products and to recruit and train new employees. You have no honor in your name. He tried recruiting me so I took the interview mainly as a courtesy to him. Ive been to interviews and left without a job. The examples in the booklet are for Bob and Susan Smith, ages 33 and 35. But like all of these MLM businesses, its not set up for money to be made through only selling the product. MLM is not a company, but a form of generating income. After reading this, I will make sure to block the number so I dont get any calls through. Do you even know why you exist? P.S.Also, as to objections from some of the above posters concerning licensure fees charged by Primerica, any financial services company must ensure that its agents are licensed, just like real estate agents (or engineers or accountants) must be licensed. After, of course, buying into the company and getting my license, etc. http://www.sequenceinc.com/fraudfiles/2013/02/is-multi-level-marketing-a-legitimate-business-method/. And in response to that someone wrote to me the following: Hello Good evening, I work for Financial Services Office. I talked to the women who contacted me through LinkedIn and her husband when I first got there. Im not looking for part time work. im so agree i wonder how they got my info. I have been in touch with the funeral director that handled the services for my father off and on. I just received a voice message from Primerica, they had gotten my resume off of workone job site. Glad I saw this! I was there in the bulding today just asking ppl some jobs & met a young lady going for interview & I ask her if I can follow her to know more about the job & she was nice to me to let me follow her. He mentioned the company would pay for license and classes and would like for me to start working part time for 5 hrs a week these next few months. I am really glad I did my home work on this company and thank you to every one for the honest postings I will not be wasting my time with scams. But you dont actually own anything, many times not even the right to take your customers with you if you leave the MLM. Same thing as he told me when I asked him why I hadnt been told about the fee to write the state exam: we give recruits information on a need-to-know basis.. too much information would overload your mind and paralyze you from making smart business decisions.. I went for the so called interview today and was completely confused and turned off. I emailed the guy this morning after I slept on it and told him that I was not interested and this was not a fit. 6. last and least. They know what positions they are trying to fill and what each position entices and dont beat about the bush when asked about that. Surely a man that professional-looking would be deterred by someone as inexperienced as me in the room, I rationalized to myself. When you write a resume, youre looking for a job, not an opportunity. He called me again and I ignored the call. 99 for the background check, 25 for the POL, and 50 for the deposit on life insurance. Some people are so desperate for money that they are blind to this. Primerica just needs to do everyone a favor and be upfront about the type of business it is. All I have to do is clock in whatever hours a week I want and watch thousands of dollars pour in. I had to smile a shake my head every time I saw one of these unsuspecting people heading in. As I told others about my upcoming interview and was asked things like with who, I felt like an idiot realizing I wasnt given any basic details. Thats why they havent been charged. Nobody in our company will stop you from being great and doing great things for people. So how did my interview go? Hey guys I need some help I wish I saw this before the meeting but I just got home from it. At worst it means you have a poor product or poor reputation which is most likely deserved. The SEC found that PFS Investments Inc. had failed to have in place effective policies and procedures to follow up adequately on three complaints received about the Dearborn registered representatives, "selling away" activities. Recruiters lie to get people to join, because if they told hte truth about the almost guaranteed failure, no one would ever sign up. I made the mistake signing up thinking I was signing up for life insurance and trying to help a friend out that works for this company. Even the man who started it wants nothing to do with what it has become. Do whats right. My niece received a call for a job interview yesterday. She set up an interview for me tomorrow and told me to dress in business attire. I actually had to call my friend to ask what the position was and he said its something to do with sales.. You may even have to buy products before you're eligible to be paid or get certain bonuses. He said we were guaranteed to get them to buy with that trick. Thank you for providing this information! What should I do? I make a very nice income for myself with a legitimate business. I ended up getting out of it last minute once I found this blog I had to SEARCH HARD to find out that she worked for Primerica, it pretty much boiled down to me searching the address she gave me and finding that its registered to Primerica. And yes the higher ups do benefit from your recruits they arent going hard for no apparent reason and they will convince you they are blue in the face that Primerica will help you build your own business within a business. WHY DIDNT I GOOGLE IT??? I will not be going Monday. I could hear a party going on in the background and the aroma of delivered pizza hit my nose. How BBB Processes Complaints and Reviews. Please dont contact me again. Ta da. What should I do? Are you saying that the people who did the fake job interviews are lying, and they didnt actually do that? If you really want to sell financial products, youre much better off doing so through a company that is not an MLM. Instead my thoughts were screaming through my mind.. really, what was John doing in there?! Im so glad I found this site. https://www.nasdaq.com/press-release/mary-kay-inc.-announces-awards-milestones-and-accomplishments-from-full-year-2022 Anyone quoting pink truth (aka themselves) like this attempted sub-feeder blog and the gm one, I agree! Multi-level Management is a pyramid/ ponzi scheme. Its an exhausting way to make a living. And this made me laugh what he said next. Well guide you through the process. Im currently looking into anything and everything about them to be certain of all of this MLM/pyramid scheme type business and I am definitely getting out if Im right. 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. Like Im not with all the talk and I need proof. Yes, the fake interviews have occurred. Thank you to all those who contributed to this thread and I wish you all the best of luck in your job search! We chat like we did before she mentions that her daughter Mariah (not her name, but I want to stress the weird detail that the name WAS a variant of her own). He said to meet him tomorrow at 3:30 pm at the address he provided which was a Suite building. The lady that answered, said Prime America, how can I help you. I am glad that I followed my instincts and didnt end up wasting my time. The receptionist and her shared a vague facial resemblance. PERFECT CANDIDATES! My name, what I do, how much Id like to make, what my goals are. Funny thing is, the first 20 times I heard this same spiel I was envious of his life and attracted to the lifestyle he proclaimed was not only possible, but a given if one followed his leadership. A long time ago one of these assholes gave me a card and took my info, sadly I was told it was a scam after I gave my info. old-fashioned pyramid scheme and the line between the two is blurry at best. Its about finding suckers who can be talked into signing up for the MLM. Yesterday i was called by a man who said i was referred by my best-friend josh, who was his cousin. Ive written about Primerica in the past, questioning whether Primerica is a pyramid scheme, and whether PFS is a scam. Hey every body, i have a guy friend who works at a local health food store, he started telling me about 6 weeks ago about this new business he was recieving training in, he connered me today at the store, and asked if i wanted to sit in on a meeting to see what its all about; well i new something was up when every one was all cheerfull and glad to have me there, i lost count how many people said that to me in the first 20 min, Then came the brief infomercial about the exotic trip you can go on if you just earn enough points, every one kept talking about all the money and free time you can have fro your self, but never once did any say exeactly what you do to actuallu earn any money, oh ya then there was this manditory meeting you have to attend 1200 miles away, and wouldnt you know, they started right with telling every one if you did not make this meeting you simply were not commited, Wow.. Any way after about 45 to 50 min of this i told my friend i was going to leave and research this out online, you have no idea how good it felt to walk out mid presentation, i bet all eyes were on me you what i missed riding my bike tonight because of this.. Dont waiste your time people it is a MLM scam.. I would see this slightly desperate look in her husbands eyes every time he asked if I would be interested in joining. You arent stupid or naive. FIRST AMERICAN NATIONAL SECURITIES, INC., PRIMERICA ADVISORS, PFS INVESTMENTS INC. CRD#: 10111 /SEC#: 801-72263,8-26486. Its entrepreneurial in nature and that needs to be discussed and made clear. 4. She then insisted on calling me on Wednesday to remind me of the appointment and said I was lucky because the vice president would be there on Wednesday -_-. Operated a pyramid scheme: The company also encourages consumers to become Financial Education Services "agents" themselves, selling the company's services to other consumers. I was so flattered! You dum assess are just to lazy to change the direction your lives are going so you stay working for toll plazas or write articles like this fat bitch. He knew that I lived in close proximity to his company and asked me if I was still interested in finding a job. The guy on the phone was super nice and seemed waaaaay too eager for me to come in, especially since I told him up front that I had no financing background. I hope she doesnt see this thread because she will get defensive about this company. Thanks for the post. People like you almost deserve to get scammed. Our entire crusade is to teach people how money works we want to educate the clients so they dont get fooled by people like Citi we broke away from Citi when they were doing the wrong thing Primerica works from the highest ethical standards. And by the way in MLM you dont own a business. You have a contract under which youre permitted to shill for the MLM. Overall sounded ok but things started to not add up. The outdated nature of your claims constitutes libel until corrected. Thank you so much for sharing the information! They didnt give me an estimated end time for the interview, after about an hour (I was following the MLB Draft on the side) I told them that I had to go and they asked me about the opportunity and I reaffirmed that I already have a job and they told me that they will call me in a couple of weeks about it. After hanging up with him, I found this wonderfully put together article and took the time to go through most of the comments as well and found pretty much everybody in agreement that this is a scam. I hope theu chok on those miions $ they made when we went public . Thank you for everyone posting. Naturally, none of this sounded normal. It went from $53 per month to $197!! She gives me, the son she never had, an enthusiastic hug and promises to call me tomorrow with all of the details. 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. Thanks guys for ur time to let ppl know who primerica is. . Primerica IS A PYRAMID. It feels horrible all the time to be with them I am sure. As for the Author she seems to have ulterior motives and a chip on her shoulder regarding the company. I would not call it a scam, but they are overly persistent and do not take a hint unless you are forceful. Rome wasnt built in a day. I just went to a meeting last night, everything previously written by past people are true. He signed on right there because he was impressed with their house. 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. I entered the room the woman on the phone had told me to go, there were about 20 other people in there with a presenter holding an iPad on his hand. I feel deceived, and I feel like my classmate & her boyfriend are being deceived also. 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. Of course that is enticing. Those are games we leave for the devil. He did butter me up, but Im no fool and and the fees were ridiculous, didnt make sense. He finally mentioned he was on the phone with primerica and he was conducting an interview now Very weird so I blocked evrythhng and said no sales. He also told em they were looking for leaders and instructed me to call him to schedule a meeting. Even the classes were weird and subpar. About 20 minutes later I received a phone at my job stating his name was David. 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. I dropped out because most people shop for bargains rather than invest in the business. I said to him I got a call for an internship two weeks ago but they never got back to me, so I was actually happy to have received that call from him. Well im not going to my interview today. I didnt want to be rude to him with my best friend trying to work there but it just didnt sit right with me. Im not sure why the internet continues to say PRI is MLM. Take their advise and apply it on your own people. However, companies, I was in college when they reached out to me about coming there to work. Its neither a retirement fund, nor life insurance. Im still researching the fact, yet still smell pyramid. Came to the appt. Typically I dont answer those and wait for a message. It is not easy to get started, but I must say my brother-in-law is very well off today and one of the top salesmen in Texas for Woodmen.
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