Unfortunately this Josh Miller received a group of my friends cell phone numbers. He met with one of my friends stating he met her a year ago and possibly had a job for her. He was so vague as what the job was that he could send her to be trained but not what the job was etc. he then told her what personal information he had snagged from the so called friend which was very personal and scared her. She kept questioning how he knew her or knew these things about her and he mentioned through someone at our church! He tried to discuss her financial status and what services he might have for her. I don't know any financial institutions that call random folks to promote them to telemarket for them but beyond that this specific person seems very predatory in their approach. I am frightened by what he said to my friend and all beware
Well, it's interesting all the posts here. I did some due diligence on this guy, Joshua because I too got a call from him. He seemed polite enough and all. I got a similar story to what many here mentioned. However, I went through the proper channels and actually checked with the state of Colorado, as well as with the organization that monitors investment licensed people, both checked out. He has a clean record and has been licensed for years. I did more research on PRIMERICA and found this article in Forbes. I'm confident they wouldn't have printed it if it wasn't true.
I also came across this little gem.
http://www.thetoptens.com/best-life-insurance ... FCU1LE.facebook
There were a few other articles about the company that I came across as well. Apparently the company is doing something right. I can't speak for Joshua personally, he seems genuine enough.
There are a lot of accusations here that seem unfounded. I looked him up one last time before I made my decision. I'm not here to defend the guy, but every question I asked him when we met he answered honestly and was very forthright.
That said, after taking the time to meet and hear what the guy had to offer, I realize I don't want to be in personal finance. But, for someone that is interested in making a career move, this is a viable one. For those posting here that just need a sounding-board, I would do better research than this website has to offer... No one here seems to have done any real research. Use your head people.
"Pyramid Scheme" "A pyramid scheme is a business model that recruits members via a promise of payments or services for enrolling others into the scheme, rather than supplying investments or sale of products or services."
So, let's have a conversation about what is and is not the true.... Pyramid schemes are illegal in all 50 states (and most likely Canada as well.)
Every one that has existed has been shut down and sure hasn't been around for 40 years.
Pyramid Schemes don't have IPO's. Nor are their IPOs successful, if they do go public. The Securities Exchange Commission does their due diligence, as well as the companies that invest in them.
Here's some of the research I did:
This was the first thing I found.
http://www.cnbc.com/id/36135730
Then I dug a little more.
http://www.primerica.com/public/news/primerica-market-debut.html
But, my real question was who would invest in a company like this? Which brought me here.
http://www.wsj.com/articles/SB10001424052748704486504575098070564793184
And then I came across this:
http://www.wkrb13.com/markets/1242541/brown-a ... merica-inc-pri/
Which, being what I would like to think, at least a somewhat savvy investor. I found even more interesting, most of us have our money invested through a 401k and by virtue are probably investing in this company without even knowing it.
So any claim to be a scam is probably at best unfounded and at worst a bold face lie.
"Multi Level Market"
(MLM) is a marketing strategy in which the sales force is compensated not only for sales they generate, but also for the sales of the other salespeople that they recruit. This recruited sales force is referred to as the participant's "downline", and can provide multiple levels of compensation.
They may fall more into this category based upon what people are saying... Ok.
But, let's do a little reasoning then, walk with me.
We all know someone that has been in one. And, if you don't, you will.
What are the most common characteristics?
-You have to recruit to make money.
-When a product is sold you make little to no money.
-No license.
-No regulation (not even the F&DA)
-Hierarchy structures are often complex and difficult to understand or explain.
What I found out when I studied their business.
-They recruit (so does your company or whatever entity you work for.)
-NO ONE makes money until a representative is licensed and makes a sale (life insurance, investment, or other)
-when a sale is made the one who makes the sale also makes the most money from that sale.
-as previously mentioned, you have to be licensed... All licensed reps have to answer to immediate oversight all the way through the company to the regulatory agencies that over see each respective industry.
-the company hierarchy is simple, straight forward, and transparent. (A child with basic math skills could explain it.)
So, in my opinion... And after much research (as I am looking into a couple different career paths and this is one of them.) I thought I'd set the record straight. I wouldn't call Primerica a pyramid scheme, MLM (some similarities, but not the same), and definitely not a scam. They offer legitimate products, have credible investors that did more research than you will have time for in your life time. And inevitably spent more money on that research than you'll make in your lifetime.
Not sure if I'll take the opportunity, I'm looking at investment banking too. But, Josh is the real deal. He even encouraged me not to get started till I knew what direction I wanted to take. He told me the company would pay for my licenses even if I left to go to another firm. Shoot, my current company required me to work four extra years as a contingency to paying for my masters degree.
So, whether your interested in personal finance or not, this guy has built a business for himself and has the backing of a pretty impressive company to help get the job done. I was a little skeptical, I'm glad a didn't leave it there and did a bit more research and met with the guy. I might take him up on his offer even if it's just to get the licenses paid for.
Good luck to the rest of you.