In this article, I’ll provide my Virtual Financial Group (VFG) review.
Here’s a a historical excerpt from VFG:
By leveraging the latest online tools & technology, VFG’s system allows for a new type of agent & entrepreneur to enter the industry.
I remember being at a compliance training session. This was at one of the largest WFG offices in the nation. One thing that I realized at that time was that financial compliance was huge. For most agents, you would have your state insurance agency’s set of rules. If you were selling variable products, then there would be more regulation with the SEC (U.S. Securities and Exchange Commission) involved.
That’s not all. Now you have more regulations because it’s a highly regulated business that’s within a MLM shell. With a bunch of people thinking “pyramid scheme”, you’ve gotta be careful that you’re not doing shady stuff that will impact the others in the company. While the company is legit, many people do associate MLM with a scheme..but that’s not the purpose of this post.
So VFG comes into the picture and introduces technologies for people to easily use technology to build the business. Sounds pretty noble. It works with a bunch of “new / tech-savvy” companies. However, it’s pretty tough with traditional companies like WFG…especially if they’re tied into a publically traded company like AEGON.
So if you’re looking to build a business with WFG and VFG, think again. Traditional companies don’t budge easily, and they have the mentality of why fix it if it ain’t broken. That means that they aren’t so cutting edge, and they’d like you to build the business the old fashion way. While some compliance officers are cool, keep in mind that your future can change with a single compliance decision. While some think can be okay now, there’s no guarantee of how long you can use a certain strategy.
With that being said, there are special strategies that you can implement to build your business without getting in trouble. These strategies will also allow you to build a business without dealing with the frustration of rejection and without chasing your friends and family members. Setting yourself apart from the crowd does have its advantages.