I joined World Lending Group because of a friend of mine (who isn't?). But this office is a little bit different, it has two names:
World Lending Group (WLG) and Premier Financial of America (PFA)
It turns out, that they are using the mortgage loan officer position as their door openner. Many of us have the hope that we can get some trainings and make some money being a loan officer. Yet, once we get in, the first training is the product training, where they would pitch us on this thing called Variable Universal
Life insurance (VUL). They show me how wonderful this product would be, and how I don't have to pay tax on, and I would have enough money in this account once I am retired.
For those of us who doesn't really have the $200 to invest every month, their second product training will be on how to cash out my mortgage and use that money to purchase this insurance!
In the company, there are a lot of so call "contests" and "conventions". They are no more than scams to have all the working bees (the poor agents) to bring in more of our family members, friends, and relatives in so they can sell them.
They promise me big money, high commission! After all, most of the money go to the one on top! Run, the next time you hear the name World Lending Group, or Premier Financial of America!
In order to get involve, you need to pay a membership fee to WLG at $225, plus a membership fee to Premire Financial of America (PFA) for $100. You will get a starter's package from WLG once sign up, however, you will never see anything from PFA. That makes you really wonder where do the money goes?
Besides of the memmbership, there are also many convensions and locate events that they require you to attend, which can cost from $50 to $1000s (the next one is in Las Vagas, registration is $150, plus hotel, plus airticket, plus food and transportation, that can easily add up)!
The company also rans a lot a contest, but more in a gambling format, where the "leaders" would as the contestant to put in cash in a pot, if they win, then they would get a certain percentage of the total pool, etc.
The office I am involved in is located at Rockville, MD. Headed by Jack Wu, his brother Rex Wu, Henry Chang, and Joe Shia.
Please let the words out.
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