WFG is owned by Transamerica… He’s making money doing it and he wants me to join him as I have a large network of people to tap … 94 reviews from Transamerica Financial Advisors, Inc employees about Transamerica Financial Advisors, Inc culture, salaries, benefits, work-life balance, management, job security, and more.4/5(95) Transamerica Financial Advisor Reviews Glassdoor This friend has zero prior finance experience, but has taken some exams and has a few more to take in order to be an actual financial advisor. According to them, they have the highest rate of return, little to no risk, and no penalties for withdrawing money-- they made it seem like there is no downside. Amid historically low rates, the income solutions of yesterday are not going to cut it. 98 reviews from Transamerica Financial Advisors, Inc employees about Transamerica Financial Advisors, Inc culture, salaries, benefits, work-life balance, management, job security, and more. About. It's definitely a legitimate company, but more than … Hubert Humphrey founded a company named World Marketing Alliance in 1991 which was dedicated to providing investment options with minimal taxes. Also, she wants names from us, friends of ours to whom she can do her sales pitch. Go see for yourself. Their last reported 13F filing … All you need is the ability to follow directions, use software packages, and a bit of passion to work in financial management. The benefits are real, but the costs associated with them are not appropriate for the average investor. According to them, they have the highest rate of return, little to no risk, and no penalties for withdrawing money-- they made it seem like there is no downside. I don't know too many legitimate financial operations that try to get clients as their employees. Transamerica Financial Advisors, Inc. Manhattan Branch. Since WFG doesn’t believe in the “one size fits all” approach, its licensed associates offer a broad range of solutions from many other well-known providers in addition to Transamerica’s products. And we can do the same for you. What matters to you, matters to us. WFG is a subsidiary of Transamerica Corporation. May just be the best Opportunity for Indys". A long time friend of my husband's is training with Transamerica to be a financial advisor. I had a partial knowledge of permanent insurance because, ironically, my life insurance agent explained it years ago when we bought our policies, and specifically said "this is not for you at this point, this is for people that make lots of money". I don't think this is a full on scheme, but it just seemed a little odd. The company's filing status is listed as Inactive and its File Number is P29872.The company's principal … https://ivetriedthat.com/2014/03/10/transamerica-wfg-primerica-what-do-these-businesses-have-in-common/. The presentation wasn't bad, and the only part that I didn't like much was the "recruiting us" part....well, that and that it took twice as long as initially anticipated. The products are high-cost, and are rarely (if ever) the fiscally better option to invest in. Transamerica Financial Advisors, Inc. (TFA) is a broker-dealer and registered investment advisor. This friend has zero prior finance experience, but has taken some exams and has a few more to take in order to be an actual financial advisor… To support our Group Benefits policyholders, from February to May 2020, we temporarily suspended policy cancellations due to non-payment of premiums during that time. Reddit - 0; Yahoo - 0; Overall Rating . If you’re unsure of whether to get an annuity or not, consider talking with a local financial advisor. It's exploitive all around. The firm is a full-service financial advisor … Approves of CEO. Part of the presentation said "how would you like to be involved-- as a client, part time employee, or full time?" Transamerica has been names to both Working Mothers 100 Best Companies and Best Companies for Dads. World Financial Group (WFG) is a multi-level marketing company based in Johns Creek, Georgia, a suburb of Atlanta, which sells investment, insurance, and various other financial products through a network of distributors in the United States, Canada, and Puerto Rico. Securities and investment advisory services offered by Transamerica Financial Advisors, Inc., a broker/dealer, member of FINRA, SIPC and a Registered Investment Adviser. Anyone can be sponsored by a financial services firm for FINRA registration or pay the fee to take the licensing exams on their own upon passing a rigorous background check. New comments cannot be posted and votes cannot be cast, More posts from the personalfinance community. More about Primerica. NE, Cedar Rapids IA 52499 1. Business Details. Lots of people are using these plans for retirement, problem is most of them shouldn't be. Transamerica's Internship Program is a dynamic and evolving program that provides college students a valuable hands-on experience in a real-world business environment. I have a buddy who’s been trying to get me to do this Transamerica financial planning and shit with him. This is a multi-location business.Need to find a different location? Stick with your 401(k) plan and perhaps an IRA if you have extra money to invest. Read this posting by someone who works there: "World Financial Group/Transamerica. Taking in novices for crash training, tricking friends into becoming clients, or appealing to their greed (no work, no risk, all money) are instant deal breakers on their own. The call came from Transamerica and they wanted to set up a time for an interview with me. He’s making money doing it and he wants me to join him as I have a large network of people to tap into. Please consult your personal independent advisors … I can sit through a presentation. But if it's true, if these 7702 things are so awesome and risk free with guaranteed returns, why doesn't everyone do them? Many times they were not in any way in need of life insurance. Recommends. They've changed my life, and for that I'm forever … Just tell your friend you'd absolutely never do business with friends and never become a client. The coworker is nice enough and plans to quit his/her profession to start doing this full time, and retire at 40 (which is only 3 years away), whatever that means. BrokerCheck is a trusted tool that shows you employment history, certifications, licenses, and any violations for brokers and investment advisors. Investment advisory services focused on the unique needs of individual retirees, retirement plans and their participants offered by Transamerica Retirement Advisors… Haha! However, I can’t do anything unethical or shady to make money, on principle. I’m more worried that he and his clients are the ones getting fucked. I’m not worried about him trying to fuck me. Apart from that, there was a bit of a "get rich quick" pyramid-y undertone to it all. 7702 is just another phrase for life insurance policies. Securities and investment advisory services offered by Transamerica Financial Advisors, Inc., a broker/dealer, member of FINRA, SIPC and a Registered Investment Adviser. That's called 'bait-and-switch'. Transamerica Insurance Company has offered insurance products since 1904. Transamerica was founded in San Francisco by Amadeo Giannini, but didn’t start using the brand name Transamerica until the 1950s. I wasn't planning on becoming a client, and that's the perfect response to give him-- no feelings get hurt. Financial Planner in New York. Individual Investors: Please contact Transamerica … As others will tell you, avoid this situation. 7702 is that tax code life policies fall under, similar to how 401(k) the item and section of a pension plan. None of what this guy is doing has even a slight chance of being good for you. SmartAsset’s free tool matches you with financial advisors in your area in just five minutes. 401(k)/403(b) Plans; Solo 401(k) Plans; Cash Balance Plans; Nonqualified Deferred Compensation Plans; New Comparability (Cross-Tested) 3(16), 3(21), 3(38) Fiduciary Services Through agreements with many well-known insurance and financial services providers, I can offer a wide selection of products and services, and find a strategy to help fit your needs and goals. The branch I worked with deliberately targeted low income families. Transamerica Resources, Inc. does not offer insurance products or securities. It felt like some MLM type of thing and there was just something that felt off about it all. That makes me a bit wary. The needs analysis is required before they can give you financial advice, otherwise they are breaking the law. Business Format System. Basically it should only be used for extremely high income individuals who are maxing all of their other tax-deferred/tax-free options and taking advantage of the tax benefits of life insurance. As the title says I spoke with a financial advisor about TransAmerica's Financial Foundation Index Universal Life account yesterday and wanted to know if any of you have had … Quick Books is widely used in America. Press question mark to learn the rest of the keyboard shortcuts, "World Financial Group/Transamerica. I really have no interest in this but I need money and know I can make some and easily get him clients. So is Transamerica a scam or MLM or what? Shortly after running through all their lists of relatives and friends, something like 50% of new agents will leave the business. 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