It is not a traditional job. Number 1 only matters if you want to turn Primerica into your FULL TIME BUSINESS. He asked me to go for a job interview somewhere in a Manhattan building. Pyramid schemes, on the other hand, need you to pay a fee and/or purchase products and services in order to participate and earn income. I mean, my pitch would have been an honest one. So if you keep your premiums paid, your family will receive the benefit. So, there we were. Before I knew it was Primerica, I thought I was going to be interviewing for Coldwell Bankers, who have a good and legitimate real estate reputation. and is refundable but most people dont know that, You can get your own credit check and if not hired, you can get a refund. MLM is not a business. Last week I was approached at my job by two people. The only logically answer as to why this trend has been in effect for years is that Primerica must benefit from this tunover. The evening eventually came to an end, and I watched John as he scored 2 new recruits. *Money.USNews.com, "How to Find A Financial Advisor if You're . There is no rational benefit to buying insurance or mutual funds from Primerica today. I sat and as soon as the presentation started I was NOT happy because it was clearly a come sell this stuff and get rich thing. Primerica is so desperate for recruits that they petitioned to make the Series 6 licensing exam easier. also I asked for what position ? When I looked at the girls job title, I googled it and found this site. The recruits have to pay $100 for a credit check and training. Vanguard, Smith Barney, Fidelity, etc are all good. Many, many years ago, when it was A. L. Williams, I was approached, and even attended one of their informational sessions. Pyramid scheme type set up. It just all seemed very cheap and tacky, like the trinkets around the office. lady called me said I was referred to her?, scheduled an interview, Something told me to google what little information I had, found your blog! Information provided on Forbes Advisor is for educational purposes only. I can promise you that he wakes up every morning wishing that he could go to work like normal people and not have to deliver that line of BS at the PFS opportunity meeting tonight. I have mine scheduled in a few hours..you saved me gas and time! After that she was with very little interest to meet again. Just a bit of background I work as a sales floor employee at Lowes so I was pretty skeptical to begin with. Again, I am a little hungover and I figure well, so what. I had really lost interest by the time he had gotten to the bottom of the first page. The subject turns to travel. The whole thing seemed a little off to me. If you want to sell insurance or investments, do it with a real company, not a scammy MLM. I just got a call tonight from someone who started to ask me about my resume. after hearing these non descriptive answers at this point Im like yea, ok very high chance I will not be showing up. At this point, his mouth is moving but I really dont care what is coming out of it. About a week later she calls me. Surely it wouldnt matter in the end, as long as we get the recruit right? After dodging her for a few weeks I finally agreed and ate enough of the steam table food to be polite. The difference was the leadership at Cutco wasnt as slimy as the women who interviewed me when I got introduced to Primerica. I replied BJs (actual restaurant thats very good). He said well if someone were to tell you i can supply you with all the equipment to cook, but you would have to build your own client tale it wouldnt do to well right off the bat right? i said agreed then he replied well thats what i can help you with. Presumably because the recruiting pool is getting less and less educated. I dont go to unnecessary meetings or bother my warm market because its a legit service. 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. I Googled the address and found out it was Primerica. People are much savvier now a days and really hate a sneaky recruiting pitch. What I am saying is that (a) the MLM structure is a legal scam that hurts the distributors/representatives, and (b) Primericas products generally cost more than other similar (or better) products sold through non-MLM companies. This is more of my experiences and not really bashing Primerica. Sounded too good to be true about the money and needless to say thank-you to everyone here I will not be going. So this person who called said a headhunter has forwarded my resume to him and ask if I would like to work for them. Absolutely disgraceful that there are companies like this out there. So, if the concept of an MLM is to make money off of the effort of others, how is this different from a Real Estate Broker? Important Mutual Fund Disclosures I was ready to mangle both of them Im so fed up with these lames at this time. This is just like Aimway, they make you sign up and promise you, you will make money fast and easy. She went thru a 45 minute pitch for their pyramid scheme. I thought an in-person cash payment would be appropriate for the funds but i guess not. I was approached by a lady who came shopping in the store I work @ now. I just went on a interview yesterday June 22nd MLM jobs are not jobs at all. Hes spending more time getting me to do all this than he did explaining the actual job.. As for NFTs, exclusivity and FOMO run the gameeveryone wants in and where there are winners, there are losers. The funny thing about all this is that no one mentioned that Primerica is a NYSE company. Not a fan of recruiters that will give great compliments, offer big promises with no details & make unemployed people pay 100.00 to get started. Primerica multi-level marketing system offers the following advantages 1. life insurance pyramid scheme companiesvictoria serie temporada 1. Especially because it just didnt seem necessary. Now, I really did enjoy speaking with the woman and we got along great, but the whole thing did sound more like a sales pitch than an interview. I had a job interview with them, after applying to places that did not have them under it. Dont listen to the nonsense check out Primerica yourself! . Reported to Primerica Legal. I told her I dont have friends, so Im just telling her anything so shell drop it but she was so persistent it was ridiculous. I heard at a convention a couple of years ago that the way you know its a good company with good products or services, would be if you had to pay retail, would you still buy it? Mary wants to extend the visit. The man called the following day (just as he had said he would do). I had been suckered before into going to an interview for what turned out to be a door-to-door sales job, so I was wary of this one. Their RVP essentially told me he only worked with people who used the product and believed in it. 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. It was an apartment looking complex with no name, nothing. Thank you for the heads up!!! The hard sales pitch, corporato-cult speak, and grandiose promises are like a jackhammer to my sodden, achey head. I thought oh boy! I enter the building with a standard Primerica logo, inside its completely empty with only her and no receptionist. He had been eyeballing me since I walked into the store. Hey Alex, this isnt the first time and wont be the last time a crooked company has rung the NYSE closing bell. Everyone knows its MLM even though the company avoids the term like the plague. Youre just a bunch of lazy, whiny children. Over 3 Million people exploited over the last 15 years. I went there with an opened mind. I asked him if he was headhunting and he said, No, Im actually early for a business meeting and your personality caught my attention. They have my info and address and all kinds of info will they use it against me if I dont work for them? ones that are not MLMs), you will keep the majority of the commission on the sales of products. Based in Duluth, Georgia, PFS Investments is regulated by both the Financial Industry Regulatory Authority (FINRA) and the Securities and Exchange Commission (SEC). Oddly enough, the guy who put up the review had the same last name as the woman who called me to interview. He then had a slide showing the tiers and potential earnings. I was so mad I couldnt sleep just thinking how deceiving people can be! I hope theu chok on those miions $ they made when we went public . Went here, not knowing what it was about. There is no selling of opportunity because all we do is find out what peoples dreams and goals are in life (youve got to know what they are first) give them a game plan and tell them to act on it. So I cancelled, and avoided an unpleasant and wasted evening. Realized after I had no idea what this is, and noticed he mentioned a group thing which made me suspicious. I AM a great manager and I have been offered legitimate opportunities in the past, so yes, we exchanged numbers. The red flags popped up when she mentioned what the massive amounts of money people save, from paying 14 years of loans in 5 years is mathematically impossible for the average middle class consumer. A real boss wouldnt be furious with me for honest fumbling. And by work, of course, I mean pay them for their 36-week training course and then a monthly fee afterwards. Just WRONG Disgusted!!! The only thing that bothers me about Primerica is being captive and not having the flexibility to sell other products. 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. Im glad I didnt give them the $99 dollars, they told me it was for a background check, plus $25 a month to access your account through their website. While finding this site, Ive come to learn there is an office just a few miles away in my hometown. Customer Reviews are not used in the calculation of BBB Rating. I dug and dug until I found PFScareers.com which is the new recruit site. Took a few days of being put off, appointments came up, etc, but finally we were sitting in his office, my stack of resumes in front of him, me sitting eagerly poised to take notes. He gave me the address and time for the meeting andthats it. I emailed Mark back asking if 10 am worked for him. Ill text the woman tomorrow to cancel since she made it clear that she had her phone on 24/7. It unfortunate that anyone that has been told that theyre having a job interview and later feel that they got taken. Does How the Company Works Show a Pyramid Scheme? Now YEARS later Im getting calls from them. Still, no alarms. So glad I read this blog almost got scammed. And at the very end, drop the bombshell: You know who and what they are, and that youve purposely been wasting their time. No, I am not very angry with the company. I do, however, believe it is very important to inform people about the truth behind multi-level marketing. The early investors actually get paid those big. 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 . He explained I would get $100 back plus $200 after training.He then told me as part of the application part he needed my debit card now so he can turn in the application as soon as possible, but i told him not to charge anything yet. So I booked an interview with him. Person could not confirm how they got a copy of my resume, but asked that I bring my updated copy with me. I didnt follow those steps due to a time constraint but thanks to your comments I know I will be making better use of my time! There was a Prime America in the office building I currently work in, and I cant tell you how many young, eager, looking people would pull up looking nervous right before their big job interview. Like many before me, I posted my resume online for an employment opportunity. A pyramid scheme does not refer to the layers of management that you see. We had a small conversation and she claimed she liked my personality and gave me her card. He has dedicated his most productive working years to a system that will never be able to deliver what it promised. Furthermore, in order to get into a hedge fund, one has to invest more than a million dollars out of pocket. I am not. I would see this slightly desperate look in her husbands eyes every time he asked if I would be interested in joining. He gave lots of the same info and elusive answers reported here. he will help me get lower car insurance, maybe life as well. They are lying.). I can see that people working for this company are preying on people who have not done their research. Then she proceeded to ask if I had a Facebook and dont I have friends on there and I told her I dont want to ambush anyone with this and she said they may thank you, I told her no and she said what about in your phone, you dont have anyone. I read most of your posts, and there seems to be a lot of hate on for this company. 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. I thanked the VP for the opportunity and ended the call. Write by: . I know of plenty of people who need a job but now I dont think this company is legitimate despite the nice phone call. Meeting ended abruptly, shook hands, and informed him that this probably was not for me. I had heard him talk many times about the cars and houses that the top leaders in the company owned, and had asked him when he was going to get the viper posted on his wall. Tamara Most of them!!! I read many reviews like this before I started and while I was active. Business opportunities are not for the weak at heart. That was definitely not the job that the Lord was showing me. Flyer also says we cover the business ownership & part-time opportunity. I was not familiar with them, so I went in for the so-called interview. If you look deeper every single business entity can be labeled as a rip off because essentially take peoples money for their own financial gain. Many years ago I was involved with Primerica. FIRST AMERICAN NATIONAL SECURITIES, INC., PRIMERICA ADVISORS, PFS INVESTMENTS INC. CRD#: 10111 /SEC#: 801-72263,8-26486. He been calling me since. She gives me, the son she never had, an enthusiastic hug and promises to call me tomorrow with all of the details. There are also barriers of entry ex: background check and licensing. 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. Each of these new members usually pay an entrance fee, which is used to pay the people above them. the whole time during this first meeting it was very tense and uncomfortable. Got a call back today, saying my interview stood out, and to come for a brief information session. I blew it all off the moment I was dismissed. Oh my god i think Im being sold something. But like I said, we are all set with our banking. thats why Im not going back they called me 3 time to reschedule but I did not pick up the phone. I checked my watch. does anyone here even know what a actual pyramid scheme is? Throughout the presentation I grew more and more skeptical. Im a server and i waited on this guy and his family. Hey guys, so I went through the exact same thing, someone on one of my social media had publicized a post saying anyone 18 and over looking for a.job, my company is hiring. I was interested so I messaged the person and I asked what company and what position, she briefly told me it was a financial services company and that was it. A review of their Company of Destiny report big earners chart, once applying the fine print written below it, reveals that only 1% at best, of all the reps in their entire history since 1977, ever broke the $50k level, once or more, during any best 12 month rolling window. I wasnt about to put my plans aside for something as ambiguous as that, and seeing other people talk about their experiences, Im glad I didnt. But dude. I pasted a smile on my face and said of course, hes expecting you, he just stepped out for a few minutes though inside I was fuming. He couldnt have known that I am a three time college graduate, having obtained both a diploma and honours degree, in the fields of law and computers respectively, so why on earth was this happening? He kept messaging me even if i wouldnt give him a reply and somehow found my number and keeps contacting me. The big guy stated he made over $500,000 last year. To proceed it was a lot of paper work, like basic info, bank info and contacts. not a business 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. THIS IS A BUSINESS, and youre too lazy to work for yourself or want to educate people on their finances. I also received a phone call from a guy who said had my name refered to him by someone. Employers are not evasive about what they need. Wheres the money? Okay, made perfect sense. epipens, and or anything that a person needs to have to live and is stupid expensive. A legitimate company looking for new employees is not going to waste more time calling a candidate who did not call them back, particularly considering they had no information on me or my job experience or training. Low-Cost Business Startup Not every business opportunity comes with a low-cost setup like Primerica. So, I just said to him, actually there are 3 of them (including Curtis and a lady with a hair cover) that I will decide first and will give them a call within 24 hrs. It seemed way too good to be true, i was literally thinking to myself If this is real, I can finally afford college. I knew that kind of pushiness in indicative of something bad but I gave in anyway because like I said, I loved the couple and I really did like the financial planning part of the system. Now of course, I see several red flags in the situation. No one hands you a silver platter without some work. So i can give him people that i know and love names so he can call up and make appts with them to show how to sale them life insurance and close the deal. Thanks for the post. First of all, the company does have physical product within its structure - insurance and financial services around debt-solutions, investments, legal protection, etc. Fredericton, New Brunswick in Canada. Thank you guys. He launched into his clearly rehearsed and scripted talk. The address to the building was messaged after the call. I felt that it was a pyramid scheme, but was trying to support people in my community, especially after dealing with a traumatic loss of a family member, who didnt have a policy. A very tan/slightly burnt, attractive young 20-something came in and spoke to the receptionist for a minute about her Florida trip and went to the back where I could now see more middle-schoolers, all dressed like they were ready to model for a Kohls back to school sale flyer. http://www.sequenceinc.com/fraudfiles/2015/03/multi-level-marketing-is-not-a-business-its-a-pyramid-scheme/. Very very unprofessional company. My typing speed is about 60 wpm. He told me he worked with Primerica before it was Citigroup, and to hear that made it sound great because Citi is a huge opportunity in my area. Also, back then Term insurance was much more novel than it is now. mail or store pick up. She gives me a look that says, You could very well be the son I never had! It seems like a con now. On have other hand, it works and i do get to help people out of debt and stay out of debt. and there was one review on the place, a 5-star rating with no comments added. Given my lack of experience, I was not sure if this was normal or not. He told me to have a seat and that there was going to be a presentation. It sounded awesome until I really started to think about it. The company is not a scam. I had to fill out some kind of assessment that would tell them which management training program would be best suited for me. Primerica is regulated by the SEC and FINRA. If you are looking to contact Primerica directly, call them at (800) 257-4725. Tracy is that lonely little girl in high school who no one ever liked, and was never invited to parties, probably why she hates on MLMs so much, no one ever invited her. * Finally, does it have to have an hourly salary to be job? Their higher up had done that for them. The activity on this thread keeps the page at the top of Google searches for common phrases related to Primerica. Tracy did you use to do Primerica and was unsuccessful because you seem very angry with the company? She mentioned her husband company briefly and for someone else to pass on the info. The building that the interview took place at was unmarked on the outside and rather desolate on the inside, and it was situated next to a masonry business past the outskirts of the nearest town, of all things. I think not! Water, food, ever other necessity you can think of should not have to be provided to people at a cost. I asked her DO I NEED TO PAY ANYTHING TODAY, she said yes $140. Its a churn and burn- they will hire ANYONE who can pass a background check. I am so ashame to be same species as John adison and glen williams . I met with him and the regional Vice President yesterday and he took me out to lunch after the meeting. I received invite to interview I got a call after meeting with someone from the workforce. I kept asking what my role would be and he kept replying that he didnt know, that he could not tell from my resume what I could do and that he was not offering me a job. * Isnt it true that a lot of consumers arent sophisticated when it comes to insurance, which is why there are so many scam artist out there taking advantage of them? She goes to the bathroom and I quickly text my girlfriend to come and rescue me. He said there would be training and thats what my friend was getting into. I did not show up to the interview, after 30 minutes passed from my scheduled interview I got a call again from the VP. What a waste of time?! Told me hes still interested, to come in today and I said I was too busy and had no time. Notice how the representative not only deceived the job seekers. I went to the office the next day and talked to the rvp and told him what I knew..his wife was there and was furious. I got a phone call from someone telling me the company was called PFF. Said I might be a good fit for PFS ambitious expansion plans in the Charlotte area. Luckily, I was sitting next to her so the moment she said it was from Primaerica I told her it was a scam. 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. But I again dismissed the thought, feeling a bit guilty for doubting John. I told them that i was skeptical and would want to research before committing to any policy or any opportunity. You can say all you want about how great the company is, but when a top RVP in a MAJOR metropolitan area of 30 years is sucking it, something is very wrong. They are a scam! wth. Jorge Exactly what is false and untrue in this article? Glad I didnt waste my time. I told her I was looking for a salary based job opportunity and if she couldnt offer that, then I was cancelling the interview because her job offer didnt fit my current needs or interest. Thank you, I texted her your web blog and stated I WILL NOT BE SHOWING UP. 4.) The small group of initial promotors at the top . We have 40,000 new clients each month if you joined and didnt work, youre not one of the people who make money with us! I, actually sat through the orientation, and afterwords the deception started. Split between two people working full-time, it really wasnt that impressive. It was nice how they fooled some people but I was ready to go after 5 minutes, it reminded me too much of cutco knives sales pitch. I understand multi-level marketing all too well. Any conclusions drawn by myself are opinions. At that point, I hung up and laughed. Needless to say I found this thread and wont be putting anymore thought or effort into it. why are they still in business? The main product Primerica offers is Term Life Insurance. Multi-level marketing is not entrepreneurship. yet he hasnt received a check from them in month. He said they need a financial planner. The company's main product is Term Life Insurance. Such a shame. There were a ton of empty chairs and he said there was just a big sales meeting earlier. Im no stranger to mlm. Our government allows them to operate. You will lose the business and the friendship. I was told by a friend that if we met I would be informed about a great opportunity working from home. 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. They allow an objective summary of the facts. So the First 20 minutes seemed normal, but then it got suspicious. I dont see any suggestion there that newbies may expect six-figure earnings? 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. My husband got upset since he was at work and called her back and said no thanks and she said that she could put her husband on the phone to talk to him and try to convince him, my husband heard him out and said no thanks again to which he tells me the man was not happy and cut him off and hung up on him. Thanks guy- I am happy I did not fall for this prank. First, I purchased a single mutual fund through Primerica about 20 years ago.