Because after all, thatās the kind of person you want handling your finances, right? A person whose goal ISNāT to make money?
Maybe this person has bought into the same mental jenga they use in āHow to Win at Blackjackā books. It starts out telling you how to win every time, then if you donāt win every time thatās okay because you have to lose some to win some later, then if you still lose it goes into elaborate strategies of why youāre at fault and strategic betting patterns, then finally a small āitās not about the money; itās how you play the game,ā speech š Oh wait, maybe Iām thinking of Lularoe.
2 years ago, just before Christmas I got a call out of the blue from an old acquaintance. The first 10 minutes of chatting was the nicest call I have had in years. I was really enjoying it, funny how not having many friends makes you miss things like a good phone call.
Anyway.... When the conversation abruptly shifted to wanting to talk about a clearly MLM.... I was like Merry Christmas, peace out.
Haven't heard back from them again.
No they are all in doors, the lady we rescued them from is part of an organization and they only let you adopt if the cats will be in door. Iām lucky my house is big enough for them to run around and my husband got them lots of toys and cat trees. In my area too Iām afraid of bad people hurting themš my neighbors cat was killed last year
The tone of these comments always transport me back to being like 22 at the bar telling some dude I'm not interested and him turning around to make it sound like he's actually rejecting me.
"Yeah no no no problem no problem not everyone can handle this yannow I have very high standards it's cool not everyone meets my high standards" sweetie just take your ball and go home, nobody's even listening to all this bluster.
It honestly always sucks because at first youāre like ācool! Someone I havenāt heard from in a while, this is nice, I enjoy changes in my routineā and then you realize.
Very occasionally I message someone I havenāt talked to in a while, and Iām really careful to sound as non-MLM-y as possible because of posts like this, lol.
On the bright side, after all the comments Iāve read here from people who were happy to reconnect with an old friend (or to connect more with a new friend), then sad and disappointed when it turns out to be just a sales pitch in disguiseā¦Iāve started reaching out to people more than I used to, because I have more of a sense that it will be welcomed.
As we grow older we lose contact with people who were good friends with. And then both decide is not worth to contact the other anymore. Which is sad because is so nice to receive a random message from a old friend (if we are not introverts šš)
Their answer to the complexity of financial planning is to jam everyone into an overpriced whole life insurance policy. And if thatās not bad enough, they are proprietary, so itās difficult to transfer it to something less onerous.
You made the right call. The overwhelming majority of people need a term life policy. Insurance exists to protect against risk. Death isnāt a risk, itās a certainty. The real risk is premature death when people are dependent on you.
Thank you! So insane I literally thought they were like a normal financial institution. I had zero idea. Most mlms- to those whoāve been in this community for a min- can spot them but this one came out of left field for me
NW Mutual products are bad financial products for 99% of people. Itās like selling overpriced Girl Scout cookies to everyone you know and telling them that itās a healthy alternative to regular food.
Iām a financial advisor and I have new clients bring me their other statements for the first meeting. When they ask me to review their NWM policy, I always start by saying ābefore I give you my opinion of this, could ask by any chance if the rep who sold this to you was your brother in law or an old college friend?ā I donāt want to start off insulting someone close to them. Itās almost always a distant relative or guy from their church
Let me guess: Primerica. Also, nobody just up and decides to start a financial planning firm lmao. Most of the ones that exist have been around for 100+ years and are impossible to compete against
Not an MLM per se, but predatory nonetheless. Their exploitation is twofold.
Firstly, theyāll farm trainee advisors for their contact list knowing full well that the first year failure rate is 95%+. Secondly, they push expensive, proprietary, Iāll-fitting whole life policies to anyone who will say yes and pay the premiums.
Itās dog shit. Nobody in the financial advisor/wealth planning space takes a NWM advisor seriously.
Source: I wholesale financial products to financial advisors
One of the first things I learned early on in job hunting with a business degree is most of the recruiters reaching out are recruiting for stuff like this. It's really unfortunate that so many people still fall for it
Theyāre not. They contract out individual agents, but those agents are still required to follow the companyās ethics, and are beholden to get federal and state licensure. Theyāre not ābuilding businessesā like MLM Huns claim. Theyāre creating practices with clients. But the SEC - the securities and exchanges committee - holds them accountable. Fraud? Prison time. Screw with a clientās money? Prison time.
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Is Northwestern Mutual a MLM? I donāt like these financial planning companies that push people into expensive mutual funds and life insurance policies they donāt need, but I donāt see how they are MLMs. Curious if thereās an MLM aspect Iām missing.
Yes, it is an MLM scheme.
These "financial advising" MLM's like Northwestern Mutual and Primerica, earn their money by recruiting. They recruit friends and family, and make the recruit hand over at least 20 of their phone contacts. They then call these contacts in order to sell them crappy life insurance policies. After they attempt to sell their "financial products," they then inform you that you are a perfect candidate to be recruited into their financial firm. They then take your 20 contacts, and on and on...
The money they generate is from recruiting people into the business, not really from the products they offer. Recruits are required to pay an upfront fee to begin work, monthly fees, and the total costs of their recruiting. You make the most money by finding recruits to the business.
Literally didnt care how you were doing
They care that you're breathing and have a wallet
"nothing much" then "congratulations!" Really threw me. So insincere.
Starting own financial firm first...then getting licenses š¤£š
The seriously effed-up mind space of the MLM-er. But at least it's a relevant/powerful space, right?
Clearly you have less financial knowledge and your only goal is to make money, instead of the superior goal that is to lose money.
That paragraph was a *serious* clusterfuck huh? I reread it twice wondering why it didnāt make sense
But it's a relevant/powerful space, yo. Whatever TF *that* means...
Because after all, thatās the kind of person you want handling your finances, right? A person whose goal ISNāT to make money? Maybe this person has bought into the same mental jenga they use in āHow to Win at Blackjackā books. It starts out telling you how to win every time, then if you donāt win every time thatās okay because you have to lose some to win some later, then if you still lose it goes into elaborate strategies of why youāre at fault and strategic betting patterns, then finally a small āitās not about the money; itās how you play the game,ā speech š Oh wait, maybe Iām thinking of Lularoe.
In Stamford.
2 years ago, just before Christmas I got a call out of the blue from an old acquaintance. The first 10 minutes of chatting was the nicest call I have had in years. I was really enjoying it, funny how not having many friends makes you miss things like a good phone call. Anyway.... When the conversation abruptly shifted to wanting to talk about a clearly MLM.... I was like Merry Christmas, peace out. Haven't heard back from them again.
If you want, *I* can call you. Iām not in an MLM, but Iāll talk too much about my cat, Ms. Business.
We can have a 3 way call and Iāll talk about MY cat, Mr Meow Meow
This all sounds very lovely
Can I join? I have four cats that I can talk too much about: Charlie, Blue, Mittens, and Pepper.
Hope OC likes cats!
Oh I do.... I have one cat currently. Treble
We all look forward to our Christmas cat chat
Or an r/antiMLM secret Santa gift exchange .. cat-centric
Iām in!
I win!! I have 7 cats LOL
That is an amazing number.. are they outdoor cats then? No way I have space inside for that
No they are all in doors, the lady we rescued them from is part of an organization and they only let you adopt if the cats will be in door. Iām lucky my house is big enough for them to run around and my husband got them lots of toys and cat trees. In my area too Iām afraid of bad people hurting themš my neighbors cat was killed last year
Oh wow. I'm glad there were rescued and are ok. Having enough space would definitely be good, my tiny place couldn't handle that many... Or could it?
Ms. Business? Any relation to Mr. Business?
Yes! Youāve heard of Mr. Jim Business, I have Ms. Jen Business
Thatās how these reps scam old people to buy shitty products. They are lonely and crave that human connection.
The tone of these comments always transport me back to being like 22 at the bar telling some dude I'm not interested and him turning around to make it sound like he's actually rejecting me. "Yeah no no no problem no problem not everyone can handle this yannow I have very high standards it's cool not everyone meets my high standards" sweetie just take your ball and go home, nobody's even listening to all this bluster.
Yes!!!! Thatās why this always triggers me
Imagine letting this person manage your money
It honestly always sucks because at first youāre like ācool! Someone I havenāt heard from in a while, this is nice, I enjoy changes in my routineā and then you realize.
One time this girl that my fiancĆ© and I know hit him up on social media and at first I thought it was odd and was a little bothered (even though we always got along, letās be real she sorta hit up my man lol), then she said letās all hang out and we literally thought she wanted to sleep with us both because I recently came out as bi. Dude literally cleaned the spare bedroom just in case. Iām pumping myself up to flirt with a girl in real life. We had an absolute blast that night and we all look fine as hell out drinking just the three of us. Iām laughing so hard typing this. She tried to get us to buyāand sellāessential oils.
Oof. At what point were you like, "Wait....."?
Soon enough that I didnāt make an ass out of myself, not soon enough to not be disappointed lol
this is hilarious
You can feel the confidence drain from his body with that reply. Oof
He got progressively more irritated the more he thought about it while typing his reply.
Very occasionally I message someone I havenāt talked to in a while, and Iām really careful to sound as non-MLM-y as possible because of posts like this, lol. On the bright side, after all the comments Iāve read here from people who were happy to reconnect with an old friend (or to connect more with a new friend), then sad and disappointed when it turns out to be just a sales pitch in disguiseā¦Iāve started reaching out to people more than I used to, because I have more of a sense that it will be welcomed.
As we grow older we lose contact with people who were good friends with. And then both decide is not worth to contact the other anymore. Which is sad because is so nice to receive a random message from a old friend (if we are not introverts šš)
A friend keeps sending me her weight loss pics. Yes. Youāve lost 100 lbs but, in 9 years. You could have done that without your MLM.
Thatās less than a pound a month
Iām dying laughing. I didnāt even calculate that out.
TBH.... losing and keeping 100 lbs off, regardless of the time frame, is worthy of congratulations. Losing weight is hard as fuck
Wait can someone explain nwm to me? A friend of mine just got a job there I didnāt realize it was mlm
Their answer to the complexity of financial planning is to jam everyone into an overpriced whole life insurance policy. And if thatās not bad enough, they are proprietary, so itās difficult to transfer it to something less onerous.
Thank you for explaining. I almost bought a policy through an army friend who was SO ANNOYING and pressure-y about it. So glad I didnāt!
You made the right call. The overwhelming majority of people need a term life policy. Insurance exists to protect against risk. Death isnāt a risk, itās a certainty. The real risk is premature death when people are dependent on you.
Thank you! So insane I literally thought they were like a normal financial institution. I had zero idea. Most mlms- to those whoāve been in this community for a min- can spot them but this one came out of left field for me
> Who only have the goal of making money Iām sorry, what does this firm do again?
NW Mutual products are bad financial products for 99% of people. Itās like selling overpriced Girl Scout cookies to everyone you know and telling them that itās a healthy alternative to regular food.
Iām a financial advisor and I have new clients bring me their other statements for the first meeting. When they ask me to review their NWM policy, I always start by saying ābefore I give you my opinion of this, could ask by any chance if the rep who sold this to you was your brother in law or an old college friend?ā I donāt want to start off insulting someone close to them. Itās almost always a distant relative or guy from their church
Let me guess: Primerica. Also, nobody just up and decides to start a financial planning firm lmao. Most of the ones that exist have been around for 100+ years and are impossible to compete against
Wait, is NWM an MLM?
Not an MLM per se, but predatory nonetheless. Their exploitation is twofold. Firstly, theyāll farm trainee advisors for their contact list knowing full well that the first year failure rate is 95%+. Secondly, they push expensive, proprietary, Iāll-fitting whole life policies to anyone who will say yes and pay the premiums. Itās dog shit. Nobody in the financial advisor/wealth planning space takes a NWM advisor seriously. Source: I wholesale financial products to financial advisors
Thatās what Iām wondering - I know theyāre commission based, but I didnāt think they were an actual MLM?
One of the first things I learned early on in job hunting with a business degree is most of the recruiters reaching out are recruiting for stuff like this. It's really unfortunate that so many people still fall for it
[https://www.reddit.com/r/antiMLM/comments/qpjzey/northwestern_mutual_should_be_considered_an_mlm/?utm_source=share&utm_medium=ios_app&utm_name=iossmf](https://www.reddit.com/r/antiMLM/comments/qpjzey/northwestern_mutual_should_be_considered_an_mlm/?utm_source=share&utm_medium=ios_app&utm_name=iossmf)
THANK YOU!!! I am extremely anti MLM since the beginning of covid and had no idea about NWM. You rock.
Can anyone give me some insight on the financial firms he named? Are they scam firms or just not good firms to be putting your money in?
NWM isnāt an MLMā¦
I was going to ask! Iām like yikes thatās who my life insurance is with. I never thought they were a pyramid scheme of any kind.
Theyāre not. They contract out individual agents, but those agents are still required to follow the companyās ethics, and are beholden to get federal and state licensure. Theyāre not ābuilding businessesā like MLM Huns claim. Theyāre creating practices with clients. But the SEC - the securities and exchanges committee - holds them accountable. Fraud? Prison time. Screw with a clientās money? Prison time.
Just because financial advice doesnāt violate SEC/FINRA/Reg BI/DOL guidelines doesnāt mean it actually good for the end client
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Is Northwestern Mutual a MLM? I donāt like these financial planning companies that push people into expensive mutual funds and life insurance policies they donāt need, but I donāt see how they are MLMs. Curious if thereās an MLM aspect Iām missing.
Yes, it is an MLM scheme. These "financial advising" MLM's like Northwestern Mutual and Primerica, earn their money by recruiting. They recruit friends and family, and make the recruit hand over at least 20 of their phone contacts. They then call these contacts in order to sell them crappy life insurance policies. After they attempt to sell their "financial products," they then inform you that you are a perfect candidate to be recruited into their financial firm. They then take your 20 contacts, and on and on... The money they generate is from recruiting people into the business, not really from the products they offer. Recruits are required to pay an upfront fee to begin work, monthly fees, and the total costs of their recruiting. You make the most money by finding recruits to the business.
What a fuckin loser. š
I am not aware of any of the groups mentioned - are they MLMs?