Is WFG a Scam?

If you’re thinking of joining WFG (World Financial Group), you need to know whether it’s safe. Is WFG a scam? 

Below, we explain whether WFG is a scam and discuss some steps you can take to improve your safety before joining this insurance‑marketing company. 

What Is WFG?

The World Financial Group, or WFG for short, is an insurance agency and brokerage that uses a multi‑level marketing model to sell life insurance and annuities. 

Agents earn commissions on their own sales and on the sales made by recruits. 

The firm originated as World Marketing Alliance in 1991 and was acquired by the Dutch insurer Aegon in 2001. It now operates as a subsidiary of Transamerica and recruits agents across the United States and Canada.

Is WFG a Scam?

Available evidence suggests that WFG is a legitimate insurance agency rather than a scam. 

The company is licensed to sell life insurance and annuities. Agents must obtain state or provincial licenses and follow insurance regulations.

However, WFG operates like an MLM, so its business model relies on recruiting independent contractors.

User reviews of World Financial Group are mixed as of this writing, with most coming from individuals working as agents for the company rather than customers: 

• 4.6 out of 5.0 stars (from over 200 reviews) on Trustpilot.
• 2.52 out of 5.0 stars (from over 100 reviews) on Better Business Bureau.
• 1.8 out of 5.0 stars (from over 90 reviews) on PissedConsumer.  

Overall, reviews tend to fall into two very different camps: those who are highly enthusiastic supporters of WFG and those who are deeply dissatisfied with the company. There seems to be very little middle ground.

Common complaints about WFG include policies not being explained clearly, MLM/pyramid-style structure, and the focus seeming more on recruiting new agents versus long-term client outcomes. 

Positive reviews praise WFG for providing them with a financial education and strong culture and mentorship. Supporters argue that success requires licensing, selling, and recruiting. 

On online forums like Reddit, people generally advise against joining WFG or organizations like it. Individuals caution that WFG operates like an MLM and that people have to pay fees to become a member.

World Financial Group is a Better Business Bureau-accredited business and holds an “A+” BBB rating. BBB ratings are a reflection of how the BBB thinks businesses are likely to interact with their customers. 

As of this writing, World Financial Group has received 213 total complaints on the BBB website over the last three years, 59 of which have been closed in the past 12 months. 

WFG regulatory actions and lawsuits

Over the years, WFG has been at the center of multiple regulatory actions and lawsuits.

For example, recently, WFG faced class and representative actions in the US alleging that it misclassified its sales associates as independent contractors, avoiding wage-and-hour protections and other employment obligations. 

A California action described WFG’s operation as a “massive pyramid scheme” based on recruiting and misclassification. A judge indicated in 2025 that she would approve a $65 million settlement of these wage-and-hour and PAGA claims.

A comprehensive list can be found on the WFG Wikipedia page. 

WFG security

In its privacy policy, the World Financial Group explains its security measures briefly. 

It says that personal information is stored on WFG or third‑party servers and is protected by “administrative, technical and physical security measures.”  

No major data breaches or cybersecurity incidents have been reported as of this writing.

WFG privacy 

WFG explains the kind of data it collects, why, and with whom it shares it in its online privacy statement. This privacy statement looks at the information collected through WFG’s website. 

WFG may collect the following information: 

• Information you provide: Full name, address, phone number, email address, date of birth, age, gender, marital statues, race, disability status, Product numbers, information about transactions with WFG (e.g., account balances, coverages, benefits, and payment and claims history), professional and education information, employment details, medical and health data, financial information, government identification, criminal history, security credentials, and other data.
• Information collected automatically: IP address, browser type, device information, operating system, pages viewed, links clicked, time spent on pages, email opens and ad interactions, approximate location, device identifiers, inferred preferences or behaviors, and chat conversations.
• Information from third parties: Including data from insurance agents, brokers, credit bureaus, data brokers, and other authorized sources.

It may use this information to provide, manage, and support financial and insurance products, as well as to verify identities, prevent fraud, communicate with you, evaluate eligibility and pricing, and improve products, websites, tools, and marketing. Plus, to deliver personalized content and targeted advertising. It may also use this data to meet legal, regulatory, and compliance obligations, as well as to protect its rights and the rights of others. 

The company may share your information with affiliates, service providers, companies whose products you apply for or use, and advertising, analytics, and marketing partners. It may also share it with social media platforms (through embedded tools or widgets), government agencies or law enforcement (when legally required), and other parties during mergers, acquisitions, or asset transfers. 

When it comes to privacy, you can opt out of marketing emails (through unsubscribe links) and adjust your browser and/or device settings to limit cookies, tracking, and location services. However, note that limiting data collection may reduce website functionality or product availability.

WFG does not respond to “Do Not Track” browser signals.

You can review and update information through your account or by contacting WFG.

Depending on where you live, you may also request access, deletion, or information about your data use. 

So, Should You Join WFG?

Depends.

WFG may suit individuals who are comfortable with sales, networking, and recruiting, and who have time to obtain insurance licensing and build a client base.  

The company provides training, marketing tools, and the backing of a large insurance group.

It may not be a good fit for those seeking a salaried job or uninterested in multi‑level marketing. You should consider the costs of licensing, training, and event attendance, and understand that income is commission‑based and varies widely.

How to Join WFG Safely and Privately 

• Keep recruiting separate from personal relationships. Don’t use your personal contact list or social media accounts for recruiting unless you are comfortable with those contacts being tied to WFG.
• Share only the information that is necessary. WFG collects a wide range of personal and sensitive data. Only fill out forms when you are actively applying for a product or service, avoid entering extra personal details into calculators and similar tools, and don’t provide sensitive details unless you are in a secure account session and truly need the product.
• Be cautious with chat tools. WFG states that it may record and store chat conversations and that inputs can be reviewed by WFG and its vendors. 
• Limit tracking and behavioral profiling. WFG uses cookies, pixels, device identifiers, and ad tracking across websites. Use a browser with built-in tracking protection. The company explicitly says it does not honor Do Not Track, so browser privacy tools matter.
• Control location and device data. WFG may collect location data, device identifiers, and app and device analytics. Turn off location services for your browser. On your phone, turn off ad tracking and limit app permissions for location and contacts.
• Use a dedicated or masked email address. WFG uses your data for marketing and advertising. Consider using a separate or masked email for financial services and unsubscribe from marketing emails if you don’t want targeted promotions.
• Be careful with social media connections. WFG sites may include social media widgets that track your browsing, even if you don’t click them.
• Exercise your privacy rights. Depending on where you live, you can request access to your data, ask for corrections, and limit sale/sharing.