Freedom Equity Group Review – Scam Or Legit? [Updated]

Freedom Equity Group is a multi level marketing business founded by 3 ex-Primerica Employees in 2002 and are head quartered in Arroyo Grande, California. 

The opportunity with Freedom Equity Group is focused in a similar market to Primerica covering life insurance and annuities. 

They promise that all their agents are full trained in the financial services industry - which is either restrictive and only recruiting properly qualified agents from college that have an education in the finance industry or they are taking on any Tom, Dick And Harry and training them up!. 

Either option I don't believe so much, most likely is the latter and giving only basic training - a pamphlet hand out informing what products they are to sell. 

Training in the MLM industry is very rare!. 

A website belonging to any business is their front or public face. I have no doubt that you have seen thousands, maybe even tens of thousands of websites before.

Looking at the Freedom Equity Group Website the only information about their products given to the general public is that they sell insurance, namely life insurance and something about annuity. 

How about some exact information. Details, Details, more details!. 

Show me where the devil is!. 

The closest I have got to working in the world of finance is withdrawing cash from the ATM but, life insurance I know a bit about having had the unfortunate need to make a claim for myself after a horrific road accident that left me disabled and with a seriously smashed up knee, femur and hip!. 

I don't mean to picky here...but don't you think that potential clients would want to know exactly what is covered, will they be covered if they lose a limb or become disabled like what happened to me or heaven forbid become terminally ill?. 

This is not to mention that rather studious potential agent who may wish to know in detail what exactly he or she may be required to sell. 

Personally I don't just find this rather off putting I find it as a straight up red flag!. 

I'll you straight if a Freedom Equity Group rep came chapping on my door tonight they be sent packing!.

I want details, I want to know exactly what I may be buying and I want to see the info online and in a digital format - I don't want a bunch of papers and pretty folios!. 

(which, just no mention it is no good for the environment!. Save those trees baby!). 

Rant over!. 

Still, 

The question arises given that the Freedom Equity Group (FEG) merely work with insurance companies and sell their products on behalf of them for a commission.

As a consumer you might just end up getting a better deal by contacting the company directly. 

If you are refused a better deal or at least an equal one you can always quote what you were offered by FEG and ask to speak to a manager. You'd be surprised how often that works!. 

Again crickets! 

There is a serious lack of professionality by the this company all in. This is not what I expect from a MLM company that has been in business since 2002 and company owners that have been in the industry since the 1980's. 

There is absolutely nothing on the website in regards to the compensation plan and how much you can earn by starting a business with them as an agent. 

This is very amateurish and does make the company look scammy in my own view. having reviewed 600+ business opportunities - many of which are MLM based. I swear blind this is the very first time I have seen a business opportunity that has: 

1. No information about the products you are expected to sell
2. No Information about the compensation plan and how much you will be paid of selling their products!. 
3. No information at all about the cost of joining. 

That red flag from earlier just became a pretty big red alert!. 

I have managed to find a video on YouTube that does explain the compensation plan very well and very clearly. 

What I have calculated from a $3600 a year insurance plan sold well over $3,000 is given out in commissions. 

One thought that came across my mind when watching the video is just how similar the compensation plan looked to a Ponzi Scheme with all the money being shared around and distributed - huge sums of it nearly all of it!.

I'm not saying that it is a Ponzi Scheme, just that that is the impression I got. Watch the video at the 14min mark and onwards. 

What do you think?  

Does it look like a Ponzi Scheme? 

Unlike some "unnamed" insurance based network marketing companies I do like to be thorough and detailed with the work that I provide for the general public. 

Searching and checking out how a business is viewed and rated by consumer groups and organisations forms part of that.

It is in my opinion something that is important to do, to help readers to see how a company is rated by the Better Business Bureau. 

Missing out this information, would be....I don't know - may be akin to an business opportunity not displaying their compensation plan...

Freedom Equity Group are fully accredited by the BBB and hold a perfect A+ rating!. 

While I wasn't exactly expecting to see complaints about users of their products

"I died during mid autumn last year - the company failed to me my life insurance premium" 

What I was expecting to see was some complaints from agents and former agents. There seems to a distinct lack of them. 

One that I did come across on Glass door happened to highlight the problem with no published compensation plan. 

He/she was strongly mislead in regards to how the compensation plan works and was missing out on commissions. Thankfully for him/her he kept records of emails to back up his statement to FEG directly. 

In my opinion it certainly looks like a Ponzi Scheme due to the way large portions of the commissions are distributed - this opinion is based solely on the compensation video above. 

I however do not have access to any information from "the horses mouth" to clarify my own thoughts on that matter. 

I do think that it is absolute "Equestrian excrement" than a compensation plan is not available on their site. 

In all honesty every once in a while there is something that I review and I just don't find anything good about them. 

I don't intentionally like to be mean in that sense, absolutely not!. I am a positive Pete and see the good even in the most difficult of situations. 

I just can't see anything good about Freedom Equity group - not even a return policy or a good comprehensive range of products or workable compensation plan!. 

See what happens when information is missing!.

There are a LOT of thing that I don't like about Freedom Equity Group!. This you already know!.

• You Are Left In The Dark About Everything!

A website devoid of any information at all. Seriously!. All you will find out is who the Founder are, What industry they are involved in and that is about it!.

I can't complain more - there is a lack of anything to complain about!

It is not possible to make an accurate comment on this question due to a lack of an income disclosure statement. 

Does it surprise you that this is missing from their website?. 

I'd love to say yes you can or not you can't or give some kind of indication of how much and your probability of success based in the compensation plan and the income disclosure statement. 

All I can say is that it is highly unlikely that you can make money with The Freedom Equity Group. If it was - such information would not be hidden away!. They would be proud to display it!. 

Technically given by the very fact that the company does have a product to sell, life insurance, it is not possible to say that they are a Pyramid scheme. 

I have no doubts that Freedom Equity group are not a Pyramid scheme. 

Yes, 

Freedom Equity group and a multi level marketing business opportunity. 

In my opinion Freedom Equity Group are not a scam. They are most certainly falling into my "run a mile from" list of opportunities. 

They do seem to hide a lot of important information. This alone - even if the most legit company in the world makes them one that really should be avoid. 

It seems that this company is more secretive than North Korea and should you join this opportunity you might just find yourself in a Priah State should you start asking question about information that you need!. 

Save yourself a whole bunch of trouble and avoid this one!. 

You have no reason to complicate your life by running around checking out MLM opportunities and drawing up lists of family, friends anyone you ever met for a second to "join your team". 

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