PFA swag bag and shirt. Premier Financial Alliance Compensation Plan. They are obviously doing something right. To earn any commissions or financial rewards in PFA, one has to recruit and cause to be signed up, six persons, and obtain a license to sell insurance under applicable State Law. The importance is, is the lawsuit successfully. Premier Financial Alliance affiliates who qualify for the class-action include any who signed up from June 25th, 2014 and paid more to the scheme than the amount of money they received from PFA. Easy account access on the go! Annuities, Life Insurance, Long Term Care Coverage, Income Protection, Medicare Supplements and more. ", Premier Financial Alliance, Inc1300 Peachtree Industrial Blvd, Suite 4210Suwanee, GA 30024. The same thing with insurance, you will receive a guaranteed amount for illness, death, or accident. Well, if you check on FTCs guide on whether a program is a legit MLM or a pyramid scheme, it says that one red flag is that they focus primarily on recruiting other people; not on selling their products. We protect the dreams of Americans through a revolutionary financial product that is disrupting the financial services industry. The motion requests permission to seek reconsideration of the earlier arbitration denial decision, or in the alternative a transfer of the case to Georgia. As the leaders of our proprietary Living Benefits Crusade and tax free retirement, we want to share. A different approach: Life insurance you don't have to die to use. ? Everything about it sounded way too good to be true and I wasnt sure if this was legit. Press question mark to learn the rest of the keyboard shortcuts. Financial Services. Operating Status Active. Premier Financial Alliance. in Life Insurance, Auto Insurance, Home & Rental . 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. Once they pay the $125 membership fee and buy the Living Life IUL policy, Premier Financial Alliance associates are pressured to recruit and sell the policy within their network of friends and family members, typically from the same immigrant group. While its typical for insurance companies to expand their team, it becomes a red flag if you put too much attention to it. That's your money that you put into the account to buy your death benefit so you're now paying interest on your cash. If you think someone is trying to scam you, this is the place to ask about it. https://www.facebook.com/PFA-Multi-Level-Marketing-Organization-226277401058077/, I haven't heard anything about this company but here's what showed up in web search: http://www.scam.com/showthread.php?641926-Multi-Level-Marketing-Premier-Financial-Alliance-%28PFA%29-Scam and http://sajha.com/sajha/html/index.cfm?threadid=111838 and http://www.ripoffreport.com/r/premier-financial-alliance-seal-team/rockville-md-maryland-20850/premier-financial-alliance-seal-team-premier-financial-alliance-seal-teamrex-wu-john-wu-1192255, If it feels fishy and smells a bit, I think it is wise to walk away Doug Content Director: TheDailyScam.com. Equal Housing Opportunity. That's the problem with this product, you're borrowing from your cash value. A new class-action pyramid lawsuit was filed against Premier Financial Alliance earlier this year. MLM is legal business system that has been around and proven to be very efficient. It's actually great. ", "You're never too young for life insurance. If you have fallen for a scam, you can post your experience here to warn others. Membership Join the Credit Union! How Much To Join Premier Financial Alliance? https://behindmlm.com/companies/premier-financial-alliance-fraud-cases-consolidated/, https://behindmlm.com/companies/premier-financial-alliance-denied-arbitration-and-venue-change/, https://behindmlm.com/companies/new-premier-financial-alliance-lawsuit-claims-asian-immigrants-targeted/, https://www.mitbbs.com/article_t/SanFrancisco/34629529.html, https://behindmlm.com/companies/premier-financial-alliance-classic-pyramid-scheme-lawsuit-filed/, http://www.wenxuecity.com/news/2018/07/25/7469956.html, a 2018 suit filed by Rui Chen and Wenjian Gonzales, alleging, a 2019 suit filed by Youxiang Eileen Wang and Biyun Zong, alleging Premier Financial Alliance. 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. To sumarize, Premier Financial Alliance is facing two separate lawsuits that accuse it of being a pyramid scheme. 100, Brisbane, CA 94005. Do I smell something fishy? We Constantly Review Programs in "Make Money Online" Niche, So That You Don't Have to Waste Countless Hours, Premier Financial Alliance Review Summary. Once they pay the $125 membership fee and buy the . Legal Name Premier Financial Alliance, Inc. Company Type For Profit. According to allegations of an ongoing lawsuit, Premier Financial Alliance earns all of its revenue through recruitment. 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. Because at first it seemed "too good to be true." 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. 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. This is our shared vision. Sounds like that exactly whats going on. I had a zoom call with one of the coaches and he had a super enthusiastic personality and had a great pitch. Did you borrow what you put in? $149. Switching over to the 2019 case, the motion to compel arbitration that stayed the 2018 case was filed by Premier Financial Alliance on May 28th. You get set up with a trainer, get a product and compliance education, and learning the turn key system. Applications must be postmarked by March 1, 2023. He began his career in the financial services at a time when he was . Has this product worked with anyone? The most damning allegations in the new 2019 lawsuit are the targeting of Asian immigrants, and claim that 95% of sales within Premier Financial Alliance are affiliate purchases. p.s. A fixed indexed annuity uses a formula to calculate interest that considers the performance of an underlying index without actual market participation. I would suggest to you vadude1, to give this a try. Save my name, email, and website in this browser for the next time I comment. Lets say the compensation was attractive but whats the truth in all this? Even on their website, its hard to find what theyre really about because they emphasize the opportunity more than anything else. Chen joined Premier Financial Alliance in 2017 and Gonzales in late 2017 or early 2018. However the same order also stayed the case, pending outcome of a motion to compel arbitration in the 2019 pyramid case. Premier Financial Alliance agents are paid variable commissions from the insurance carriers based on the type of product, amount of coverage, and other factors such as the age and health of the customer. Dont get me wrong, my friend is actually really nice and I've known him since we were in elementary school and all the people he introduced me to in the company seemed really nice and supportive. No persons, except the promotors and operators of the Premier Financial Alliance scheme make any money. Daily lunch (Sept 27-29th) Early check in September 25, 2022. If recruitment stops, so does your profit. This organization is a scam. BehindMLMreviewed Premier Financial Alliancein 2016. This naturally raised the question of what Premier Financial Alliances core priority was. Reddit and its partners use cookies and similar technologies to provide you with a better experience. Now I'm literally changing lives. You can also subscribe without commenting. Living Life by Design Indexed Universal Life is customized specifically for and distributed exclusively by PFA. Ill be checking in for updates on both cases on July 19th, after which our next scheduled case update will be on or around August 20th. Premier Financial Alliance Seal Team Business details. Btw I also paid my friends $125 cause he didn't have it at the time. they will earn vast wealth, luxury vehicles, and lavish trips when in reality more than 95% of PFA Associates average net losses. Haley Piper. Founders David Carroll. The price of the product is so high compared to comparative market prices that it is impossible to legitimately sell these products retail, except to friends and families. Find locations. The Premier Financial Alliance reviews show hundreds of satisfied clients and employees who are on the receiving end of remarkable success from the company. Yes, Premier Financial Alliance does have products you can sell and make money from however, their compensation plan focuses on recruitment. No one makes money until a sell is make. 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. On May 6th an initial case management conference for both cases was held. This website provides the most important contact information about the Corporate Offices & Headquarters including Premier Financial Alliance Address, Corporate Number, and more. Talk to the one who invited you. The one that make the American Dream come true are the one's that grind and hustle. The best business tools and support you need. Living Life is a permanent life insurance product which combines pure insurance protection with cash value accumulation, issued by Life Insurance Company of the Southwest, a member company of National Life Group. On January 22nd, 2019, the court denied both motions. Living Life by Design Indexed Universal Life1 is customized specifically for and distributed exclusively by PFA. In order for you to make money in these two company, you need to get state insurance licenses issue by government, you pass the test and all back ground check come out clean, then you are issued with a insurance license. Need Assistance? Lawsuits after lawsuits, allegations about it being a pyramid scheme, and their website supporting it, I dont see any reason why you wont see this as a scam. So why don't we? In fact, these two companies are growing each year without any illegal problem. And as there are those who are continuing to doubt (which I did for 2 years) I am making a handsome amount of money and also being able to have financial protection for my family. Post your questions here and have them answered by people who are knowledgeable about all types of scams. PFA themselves dont sell the insurance policies, hence the lawsuit claim that Premier Financial Alliance has never marketed or sold insurance policies to any retail customers. Premier Financial Alliance Reviews a Checklist to Prepare Your Family for Unexpected Life Events, Premier Financial Alliance Compiles Easy Money Saving Tips for Young Professionals. Career. Copyright Products sold are not displayed on the website and the opportunity offered is vague. Manages clients' investments, helps them buy and sell stocks and bonds, assists with tax planning, etc. PFA may have privately organized under the Laws of Georgia as a different Their . What is described in the lawsuit of PFA business model is that of your typical autoship recruitment scheme. Premier Financial Alliance, Inc. 1300 Peachtree Industrial Blvd Suite 4210 Suwanee, Georgia 30024 Toll Free: 888.867.6533 Direct: 770.271.0443 Fax: 678.482.1975 [email protected] Close. Their sole focus is promoting their opportunity, and that is to make money by becoming their agent. The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration. In the event reconsideration was denied, PFA sought a venue transfer from California to Georgia. This product represents the next generation of our shared success . Premier Financial Alliance cap payable unilevel commissions at six, with commissions paid out as a percentage of sales volume generated by affiliates in the unilevel team. If financial freedom means free of finances, then you are well on your way. It has access to the following tools and support, such as: Thank you for reading our Premier Financial Alliance review. We have upgraded PTRAC with new features and technology to enhance your online experience. But hey, everyone has to start sometime right? Other drawbacks are more than enough to tell you to ditch this company and look for a better option instead. Get your ticket. I'm no financial advisor or a professional in the insurance field, but I dont know if PFA is actually legit. I noticed people sign up and don't do anything about it. This Credit Union is federally insured by the National Credit Union Administration. Do you ever find yourself thinking about your financial future? Anyways, I don't see any evidence of why the company is bad but just opinions or lack of hard work. do the same thing. document.write(theYear); Quick Summary: Premier Financial Alliance offers financial products, such as life insurance however, it barely talks about it on their website. 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