Primerica - Opinions??

**PRICEPLUS** · 03-10-2006, 06:02 AM

Re: Primerica - Opinions??

I have not had dealings with the company. Question: How does he get paid?

What types of products is he interested in telling you to buy? More info is needed!

**kristinecfp** · 03-12-2006, 06:10 PM

Re: Primerica - Opinions??

Actually, what you should really be asking is what experience/knowledge does this "financial planner" have? Is he a Certified Financial Planner? How many years has he been providing financial planning? What is his work experience?

The main thing I do NOT like about Primerica is that anyone can go to work for Primerica and call themselves a "financial planner", even if they have no previous experience, education or certifications.

Having said that, I'm sure there are some good financial planners within that organization. Which brings me back to my original point. What experience does this "financial planner" have, and is he qualified to offer you financial advice?

You should ask anyone you speak with about financial planning what their experience, education, etc. is before you hand them any money. For a booklet on questions you should ask a financial planner, go to the National Association of Personal Financial Advisors (www.napfa.org) or the Financial Planning Association (www.fpanet.org).

Disclaimer: I am a Certified Financial Planner. I have a Master's Degree in financial planning, over 10 years experience in the financial planning area, and I am very upset that just anyone can call themselves a "financial planner"!

Kristine

**tifnglen** · 06-13-2006, 07:42 AM

Re: Primerica - Opinions??

Originally posted by kristinecfp

Actually, what you should really be asking is what experience/knowledge does this "financial planner" have? Is he a Certified Financial Planner? How many years has he been providing financial planning? What is his work experience?

The main thing I do NOT like about Primerica is that anyone can go to work for Primerica and call themselves a "financial planner", even if they have no previous experience, education or certifications.

Having said that, I'm sure there are some good financial planners within that organization. Which brings me back to my original point. What experience does this "financial planner" have, and is he qualified to offer you financial advice?

You should ask anyone you speak with about financial planning what their experience, education, etc. is before you hand them any money. For a booklet on questions you should ask a financial planner, go to the National Association of Personal Financial Advisors (www.napfa.org) or the Financial Planning Association (www.fpanet.org).

Disclaimer: I am a Certified Financial Planner. I have a Master's Degree in financial planning, over 10 years experience in the financial planning area, and I am very upset that just anyone can call themselves a "financial planner"!

Kristine

OT-Kristine can you pm about becoming a CFP. I have a BSBA in Accounting. Will i have to get my masters? More experience. (I just graduated in MAY)

**boefixepa** · 06-13-2006, 08:25 AM

Re: Primerica - Opinions??

I'd be carefule. I've known people who do this and even one of the guys here at work does this on the side. They are really just selling their product and it's pretty close to being a MLM plan. A REAL financial planner has a list of options and different companies and has the knowledge to say....you know this really isn't for you at this point in your life. I really think all Primerica does is try to push their products. Yes, they can help, but the people really don't know anymore than they have been told and are just learning as they go. It's not that they after bad product, but really you should be able to find something better if you looked. Plus the person taking all the information just gives it to someone else who puts it a computer and it spits out the best solution for you. Is just glorified sales in my opinion and you can find just as good if not better out there.

Oh, and because it's a MLM, once you've refinanced, or purchased their life insurance, they want you to jump on the bandwagon and start selling too. Then they want you to give referalls and talk to your family and friends...blah...blah...blah.....

No thanks!!!

**debtdude** · 06-23-2006, 01:01 PM

Re: Primerica - Opinions??

There are financial planners who want to want to help you.
There are financial planners who want to sell you something.

Before hiring anyone, ask for references, call references, contact both large and small firms for initial "how can you help me" interviews.

**Ima saver** · 06-23-2006, 01:19 PM

Re: Primerica - Opinions??

I think if you do enough reading and research ( and read this site and ask questions) you can do your own financial planning. When I started buying stocks, i went thru Edward Jones because it was the only thing in my small town. I found out I knew a lot more about investing than the ed. jones rep. did.(He tried to put me in all load funds that his firm handled)

**lucasrd** · 06-23-2006, 04:55 PM

Re: Primerica - Opinions??

I use Ameriprise...my financial planner is pretty cool...

**defcon** · 07-19-2006, 02:55 AM

Re: Primerica - Opinions??

Originally posted by lucasrd

I use Ameriprise...my financial planner is pretty cool...

you may like him/her but you can do much better IMO. I have interviewed scores and hired some who have gone through their system and while they do offer a holistic approach their overuse of proprietary products, Excessive use of VUL as a retirement planning tool for middle America, and their "plan" selling (which is developing a plan that may or may not be realistic but makes their comission totals and is pushed regardless of appropriateness) should leave all wary. Like with any organization you may have a great planner and kudos if you do. But I would offer up that you should consider the reason AMEX financial planners became Ameriprise? Probably not at all because the rep of AMEX financial planners was tarnishing a multi billion dollar brand. Why would you spend Millions tying AMEX FP to the AMEX brand and then change it mid stream. Also their insurance products are almost w/o exception IDS insurance. They are not competatively shopped products. Again may not be your case but my experience says chances are agianst you haveing the best FP for your money.

**defcon** · 07-19-2006, 02:59 AM

Re: Primerica - Opinions??

Originally posted by jerseyguy

Had a financial planner come to my house. After reading some negative reviews about their company, wondering if I can trust his requests on what I should do with my money. Seem like a nice enough guy, but I know that doesn't mean anything. Has anyone had any dealings or first hand hand knowledge? Thanks.

Stay AWAY from A.L. Williams offspring Prmerica. They are certainly more reputable than they were but their insurance contracts at times require an advanced calculus degree adn knowledge of dead languages to decipher and their mutual fund costs are very high. They depend entirely on network marketing. They recruit you to sell and if/when you fail they talke you clients and client list you had to turn in. So if you fail they so well by you selling and if you fail or quit you provided them with free leads. While they may have some great agents they are often mechanic by day and finacial planner by night. No offense to mechanics but I prefer they tune up my car not my retirement portfolio.

**Suza411** · 07-31-2007, 09:14 AM

Stay Away

I wish I saw your message about Primerica earlier. Years ago I saw a general help wanted aid for an Administrative Assistant working for them, but when I got to the "interview", there were tons of other people there and it was for their sales presentation to become an agent. The guy who I spoke to on the phone did not apologize or care that he got me there under false pretences and just kept. giving me his sales act and when I tried to leave he tried to physically prevent me! I had to say I was going to the bathroom to get out of there! If they have to lie to get you into their offices, they can't be offering anything of value. I would stay far far away!

**MonkeyMama** · 07-31-2007, 02:05 PM

The people I know who sell PRimerica are all in the worst financial shape of anyone I know.

Talk about unqualified. I would stay away!!!! You don't need any experience or credentials at all to sell the stuff.

(Ask me how funny it is to have broke friend begging to help me get my finances in order. Whatever...)

**dcox20** · 07-31-2007, 11:41 PM

here's an alternate point of view - Keep in mind that this is only my experience with my dad who sold for A.L. Williams (prior to them being bought by Primerica)

back in the day he was helping people and had the right mindset - he didn't buy into the whole MLM side of things (signing up other agents beneath you), he did help people get out of their Whole Life insurance policies... "Buy term and invest the difference" was a big deal back them when Mutual Funds were doing much better than Whole Life returns were.

He literally went into people's homes and looked over their existing policies - one family had 7 separate policies for each member of the family, they were paying initiation fees and brokerage fees on each one annually. He hooked them up with 1 term policy with separate riders for each individual and ended up saving them a ton - which they then were able to turn around and invest.

again, that's from backin the day, just to note that there were some "good" ones out there.

**Joel** · 08-01-2007, 05:45 AM

I personally have not used Primerica but from what I understand they are promoting a certain bank's products.

Too me, seeing as they dont seem to be required to be CFPs and they are promoting only one bank's products, they are no better than sales people.

I wouldnt use them.

_______________________
Take care,
Joel

DEBTS: ~ $122K (includes mortgage on rental property)
RETIREMENT: $0
INVESTMENTS: $0
Net Worth: ($55,000)
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INCOME: ~ $80k-90K

**more freedom** · 08-01-2007, 10:38 AM

It is a network marketing company, and that company works. However, you might need certain skills to make it happen for yourself.. From the company's part it is fine..

Primerica - Opinions??