Premier Financial Alliance specializes in helping people become partners in a large business network in order to build their own financial services business.
Its mentorship and field training programs, as well as its numerous business tools, give new entrepreneurs access to products and services that help them build their dream business.
NOTE: Are you an aspiring or new insurance agent looking for more insight on how the insurance sales industry works? Check out my free New Insurance Agent Resource Guide to help answer many of your questions (as well as ones you didn’t know you had!).
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Here is a brief overview of the products and strategies featured through the Premier Financial Alliance services.
Premier Financial Alliance is designed to give clients control over their budding business by providing start-up capital to entrepreneurs regardless of prior experience or sparkling corporate resumes.
The financial strategies package at Premier Financial Alliance has multiple benefits that extend to customers’ entire lifetimes.
Financial education, training, and leadership programs offered by agents at Premier Financial Alliance help form partnerships with new entrepreneurs and turn them into lifelong associates in their business network.
The Premier Financial Alliance’s Mentorship Program provides its associates with programs that are dedicated to help them build their business.
PFA mitigates some of the financial and logistical risks that come with starting a business, acting as a self-proclaimed safety net for their partners so they can focus on their creative freedom, leadership strategies, and sales tactics without fear of failing because of their record or credentials.
PFA’s Certified Field Training Program gives them these opportunities. Clients will work alongside experienced PFA agents to build their strategies and plan for their future.
Once you become an associate with Premier Financial Alliance, you will have access to their database of clients, from which you will recruit six other agents in order to obtain the necessary license to sell PFA insurance.
This process of using their dedicated database to sell the job to other agents before selling company insurance is why some career associates have claimed that PFA is a pyramid scheme.
Both the focus on recruiting agents rather than immediate sales as well as the non-refundable $125 signing fee are red flags for those worried that the insurance vendor they work for is a pyramid scheme. The results of that case are still undetermined.
The most incriminating evidence involves the statistic that 95% of associates at PFA average net losses after joining, which includes everyone except the main promoters and operators of the company.
Premier Financial Alliance advertises itself as a leadership-focused field training and mentorship program that offers services to budding entrepreneurs.
Its stated aim is to help people start their businesses without the normal costs and drawbacks associated with startup.
However, recent legal developments following a class action suit by several associates has made PFA’s future more uncertain. It may be prudent to wait for the verdict on the company’s policies.
How To Quit Premier Financial Alliance
There are many reasons you may want to quit Premier Financial Alliance, for example, you ran out of money to invest in leads, you ran out of prospects to sell to, or you simply found that the business of selling insurance wasn’t a good fit for you.
The good news is, quitting Premier Financial Alliance is easy.
Here’s how to do it.
First, start by doing your due diligence and find another insurance agency to work for. We recommend you review our Free Agent Resource Guide here for tips on finding a quality insurance agency to join.
Once you find a new agency or carrier to join, you can go ahead and switch your affiliations.
You should keep in mind that as an insurance agent, you are licensed by the state and not by the company. No insurance agency can prevent you from stopping your affiliation with it and doing business with another organization.
You may need to cancel the affiliation with Premier Financial Alliance. The termination usually needs to be filed within a 30 day window, however canceling affiliation is not always mandatory.
To become properly appointed with the new insurance carrier or agency, you simply complete contracting with the new insurance carrier.
Typically, the window for companies to process affiliations is very short, with most companies approving insurance agent carrier appointments within 1 to 2 weeks on average.
Bottom line, quitting Premier Financial Alliance is no big deal. Simply find another organization that’s better suited to your insurance sales career goals, submit contracting through the new organization, and within the next few weeks, you’re good to go and can stop doing business with Premier Financial Alliance.
Companies Like Premier Financial Alliance
Let’s take a look at some insurance agencies and companies similar to Premier Financial Alliance in case you’re interested in doing a comparison.
Symmetry Financial Group is an insurance marketing organization based out of Swannanoa, North Carolina.
SFG specializes in several life insurance markets, primarily the mortgage protection insurance market. The company also offers final expense insurance, a type of whole life insurance designed to cover medical bills and funeral expenses after the policyholder’s passing.
Bankers Life was established in 1879 in Chicago, Illinois. The company is a subsidiary of CNO Financial Group.
Bankers Life offers life insurance, long-term care, annuities, Medicare (Supplements, Advantage Plans, Part D prescription drug coverage), critical illness insurance, as well as vision and dental plans. It targets the senior market, typically people age 60 and older who are near retirement.
People Helping People (PHP)
People Helping People was established in 2009 in Northridge, California. The company serves the middle markets for insurance-based financial planning. It focuses on term insurance, index universal life insurance, and fixed indexed annuities.
American Income Life (AIL)
American Income Life, a wholly owned subsidiary of Globe Life Insurance, is a major provider of supplemental life insurance. The company was founded in 1951 and is headquartered in Waco, Texas.
American Income Life’s core markets are labor unions, credit unions, and associations for insurance solicitation. Its insurance products include life insurance and supplemental health.
New York Life
New York Life, established in 1845, is the largest mutual life insurance company in the country. It offers premium life insurance, long-term care insurance, retirement income insurance, and investment plans, including annuities, mutual funds, and ETF saving plans.
USHEALTH Advisors is a wholly-owned national sales and distribution subsidiary of USHEALTH Group, one of the largest employers of health insurance agents in the United States.
USHEALTH offers individual health coverage plans and a number of related supplementary products. It specializes in marketing innovative and affordable health coverage plans. The company is focused on providing healthcare solutions to individuals and families, as well as self-employed and small business owners.
Equis is a marketing organization for independent insurance agents and agency builders.
Its main product is mortgage protection life insurance, designed to reduce or eliminate the threat of foreclosure or eviction if the insured passes unexpectedly. The company also offers final expense, living benefits, and indexed universal life insurance products.
Freedom Equity Group
Freedom Equity Group, based in Arroyo Grande, California, is an independent marketing organization (IMO) that contracts with insurance companies to promote and distribute a range of life insurance products.
Freedom Equity Group focuses on selling life insurance and annuities. Its main product is indexed universal life insurance, a form of permanent coverage that provides a cash value in addition to life insurance.
I hope you enjoyed my article on Premier Financial Alliance.
My goal was to provide clarity and transparency on how the company works and what circumstances you need to be aware of.
And feel free to leave a comment below. Or message me here.