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In Reply to: Re: Primerica: Why it's just anyother Multi-Tier Marketing Scam posted by Reseach can help on June 08, 2006 at 19:28:40:
In regards to what you say below, Primerica Brokers DO need to be liscenced to do what they do. We have to take STATE exams and get trained for what we do. Not only in Income protection but in SEcurities, Pre paid Legal, loans, Car and home insurance, Debt elimination, Mortages, Long term care, ... this list goes on and on. WE sepcialize in an all around debt elimination plan for many aspects of a person's life and help them secure the money they have and learn how to make thier money work for them so they can retire and live on what they worked so hard to get. thank you for you opinion though.
: I know this is a little late but here it is anyway...
: Remember Amway, the huge corporate entity, which many have claimed to have saved America from brink of economic destruction. Amway turned out to be a pyramid scheme and people went to jail and were audited by governments due to the faulty advice given by Amway recruiters. A close family friend was audited for $18000 for all the expenses that she had submitted. Similar to World Financial Group, Primerica, Noni Juice, etc. these network marketing groups tell their associates that they run their "own business". Since it is their own business they can claim their expenses. Most of the time, the groups that recruit these individuals are not aware of tax laws and the changes that are made every few years. These laws regulate how much a person can claim for business expenses.
: If one of these network-marketing groups gives you any tax advice, research to see if their information is accurate and correct (this information can be found on most government websites). If the information isn't correct it may be a good indication that these recruiters really have no idea what they are talking about.
: Another little tidbit of information people should know about financial network marketing is that most people who give financial advice have to have a special accreditation from a certified institute (for example most financial planners have a CFA). The network-marketing groups that claim to have certified financial planners mislead most people. When they claim that they are certified they usually are but the certification is in selling insurance not financial planning.
: Please note that any of the above information is of the authors opinion and is not meant to deter people from affiliating with any of the expressed companies. These companies may in fact be legitimate companies.
: Please remember to do some research to ensure that you are fully aware of any consequences that can arise from inaccurate information.
: GL June 8th, 2006. Copyright