Entrepreneurship & Small Business

Experior Financial- FRAUD! PYRAMID SCHEME

  • Last Updated:
  • Sep 22nd, 2017 3:41 am
Tags:
None
[OP]
Newbie
Mar 26, 2016
1 posts

Experior Financial- FRAUD! PYRAMID SCHEME

Got invited to a "meeting" at their office. Was met by slick, greasy sales guy in an office the size of a shoebox. Later found out this company had sold my sister, whos a single mom, a massive EXPENSIVE insurance policy. All these guys do is try and snake money out of people. The head guy looked like a Hillbilly with a brown snaggle tooth and terrible fade.. RUN!
15 replies
Newbie
Feb 17, 2016
5 posts
1 upvote
Oh my. I was also invited by 5 different advisors from Experior Financial Group and honest to goodness they were very aggresive! Anyhow I still attended one of their meetings because the 5th guy was nice and he wasn't as aggressive lol. I must say they have a great presentation as they make big promises that can really lure people who have no clue what an MLM (multi level marketing) is. This scheme reminds me of Primerica and WFG only it is a brokerage firm. Matter of fact upon learning the background of their advisors and managers, I found that they are either new grads or they were unsuccessful people who came from Primerica/WFG, and even other insurance companies (typical for insurance agents joining brokerage firms). This scheme requires Recruiting, upline, downline, sideline, or whatever line you can come up with. Beware of Experior Financial Group and stay away from this scheme as the success rate is historically very low! I don't recommend it at all!
Jr. Member
Oct 12, 2015
166 posts
14 upvotes
It appears they get lots of their recruits from the companies you mentioned. Same poop/different pile really.
Newbie
Feb 17, 2016
5 posts
1 upvote
After careful review it appears that their current Advisors/managers keep posting "great reviews" at online sites like glassdoor to lure more people in. Definitely an MLM scheme they're running. Danger!!!
Newbie
Aug 23, 2017
2 posts
2 upvotes
A bunch of former Primerica people who are trying hard to recruit other agents/advisors who aren't doing well from their previous brokerage firms or insurance companies. They repeatedly deny it's not an MLM although it's obvious it is.
Jr. Member
Oct 12, 2015
166 posts
14 upvotes
None of the reps in the outfits mentioned above do well at selling insurance. A rare few of the reps in the outfits mentioned above do well at MLM'ing, as defined as recruiting people to be clients using the lure of a business opportunity.
Newbie
Sep 10, 2017
2 posts
The aggressiveness of the way the "sales managers" or "directors" or "advisors" in recruiting and making overpromises is a sad reality that people will do anything to shortcut to success. The pyramid structure of Experior Financial Group is no different than Primerica and I have just learned that the founder/CEO of this bokerage firm is a former upline at Primerica and brought his downline over to this new company. Their own current managers and advisors leave "great reviews" at sites like glassdoor and many people don't realize it's their tactic to lure more people in this scheme. I can't decipher why financial professionals would risk their brand and reputation by associating themselves with a company that has a reputation of a "PYRAMID" or "FRAUD" or "SCAM". Beware of their Directors/Sales Managers and Agents/Advisors! Stay out of this scheme!! There is no shortcut to success!
Last edited by PTruth on Sep 11th, 2017 4:11 am, edited 1 time in total.
Jr. Member
Oct 12, 2015
166 posts
14 upvotes
"leave great reviews" at sites like glassdoor ", LinkedIn, Indeed, etc is a term known as Astroturfing. And tho many of these sites have rules specifically addressed to those in MLM operations, they do little to enforce the rules, as MLM operations provide them with revenues. Some even run interference for MLMs by deleting reviews deemed to be too revealing. Thankfully, these glowing reviews are easy to spot, even tho they often represent 80+% of the posted reviews. It seriously weakens the credibility of job review sites such as these.
Deal Fanatic
User avatar
Jul 12, 2003
7548 posts
779 upvotes
Markham
Probably Same for World Financial Group.
They make you sell insurance or investments to your friend and family, saying you can make good $ for this job, but they actually getting commission off your sale.
They will kick you out once you are not producing anymore.
Retired Forum Moderator February 2009 - June 2015
Newbie
Aug 8, 2017
17 posts
1 upvote
reputation of a "PYRAMID" or "FRAUD" or "SCAM"
Well, at least Ponzi Scheme isn't in there... :)
Jr. Member
Oct 12, 2015
166 posts
14 upvotes
MP3_SKY wrote:
Sep 13th, 2017 1:26 pm
Probably Same for World Financial Group.
They make you sell insurance or investments to your friend and family, saying you can make good $ for this job, but they actually getting commission off your sale.
They will kick you out once you are not producing anymore.

Thats no coincidence. WFG was founded by Hubert Humphrey after he left Primerica in the early 90's. He was one of their highest paid reps and the man who introduced the MLM system, after his Amway experience.
Newbie
Aug 23, 2017
2 posts
2 upvotes
"Coincidentally" the founder and CEO of Experior Financial Group was a former Primerica guy by the name of Jamie Prickett.. this is certainly not a good pattern I'm seeing here.
Jr. Member
Oct 12, 2015
166 posts
14 upvotes
The pattern is familiar.......its called MLM.....pyramid selling.
Newbie
Sep 20, 2017
1 posts
1 upvote
i had an experience with Primerica.
first bad sign - all people wearing suits, talking about big money and.....driving old cars.
second bad sign - all meeting at 8pm which is strange or a big financial company

Top