Primerica

Discussion in 'Stock Market Forum' started by JR Ewing, Apr 2, 2015.

  1. JR Ewing

    JR Ewing Super Moderator Staff Member

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    I've decided to take a pretty big bet against them - their CEO was on tv yesterday, and he basically denied that they are a MLM company. I think this will bite them in the ass - I get approached by their reps all the time in public places concerning their "career opportunity". :rolleyes:
     
  2. Trendtrader

    Trendtrader Member

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    I did the Primerica rodeo during school. Their harangues and weekly main events were not much difference than a Pentecostal Church service. Anyone that is minister-like and can breathe fire can do well with the company until they open the curtain.

    The new CEO is right. They aren't an MLM. They're a "modified brokerage agency." Just one of the many turds they feed reps and customers. I'm not sure if their approach is the same as it was in the early 2000s, but then they'd bring in anyone who showered at least weekly and could produce vapor on a mirror, hung a financial representative lanyard around their neck, and said, lets go sell overpriced term insurance and mortgage products to your family and friends but tell them that you're just "training" (hopefully they're just as dumb as you.) After we've sold three of them and you pass your life insurance exam, you're officially a "regional manager!"

    I think most of the successful reps fully believe the kool-aid is real, however, the strategizing schemers pulling the strings have to be sociopaths in order to live with themselves.
     
  3. JR Ewing

    JR Ewing Super Moderator Staff Member

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    Everything I've heard, read, and seen about them is indicative of what I've always known to be multi-level marketing. Basically endlessly recruiting people to work under you to recruit more people into the cult. I've been approached by many of them, plus people from other companies in other industries such as Amway, Excel Telecom, Herbalife, etc, etc.

    One clown in my area who stalks the business section in the local large bookstore told me that the company pays each person in a rep's upline / downline an equal commission, which is something I don't believe - there's no way they'd be able to pay 2 or 10 or 20 reps EACH some 30-40% payout or whatever of the commission on a sale. If they're charging a 5-6% or more commission on a front loaded mutual fund or some insurance product, they've got to be splitting up the payout on that money somehow.

    He gave me this answer when I asked him if he had to split up his commissions with the guy who brought him in, the guy who brought that guy in, etc. This clown told me he had been with the company for several years, and had so far been unable to pass his Series 6.
     
  4. AtlantaSports

    AtlantaSports Senior Investor

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    I actually know very little about the company, but I have a friend who recently was employed for them. He talks about how they have the most 6 and 7 figure employees in America, so that's why he is so excited about working there.
     
  5. Trendtrader

    Trendtrader Member

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    Apparently that's...hogwash.
     

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