Subject: Re: Re: Re: Primerica is MLM by legal definition

Comments:
: : Sorry, but I disagree. Since you are whipping out your "LEGAL" stick, I'll address it from that perspective. : : 1) Is Primerica "any person, firm, corporation, or other business entity"? Yes. : : 2) Does PFS "sell, distribute, or supply for a valuable consideration goods or services" ? Yes. : : 3) Do they do 2) "through independent agents, contractors, or distributors at different levels"? Yes. : : 4) Can "such participants recruit other participants" ? Yes. : : 5) Are "commissions, cross-commissions, bonuses, refunds, discounts, dividends, or other considerations in the program paid as a result of the sale of such goods or services" ? Yes. : : 6) Are PFS reps paid for "the recruitment"? *No*. : : 7) Are PFS reps paid for the "actions, or performances of additional participants"? Yes. : : PFS fails point 6, therefore, LEGALLY (your word) its not an MLM. : : Yes, I admit I'm arguing semantics. But you started it. If you want to toss down the "LEGALESE" gauntlet, I dont mind picking it up and smacking you with it. I proved that one tiny phrase in your legal definition doesnt apply, therefore, in LEGAL terms, Primerica isn't an MLM. : : But, dont get me wrong. An MLM is a very good way to market products and services. I think it was smart for PFS to take some parts of the MLM business model and use them to their advantage. Every one knows that the biggest downside of real MLMs are that you have to pay to join, and that payment is paid to your recruiter, and thus is a form of incentive to recruit. Since that *fundamental* MLM mechanic *does not exist* at Primerica, it is not what anyone would consider an MLM by common definition. : : In addition, if you read JAXX reply in the other thread, he stated (and I quote): : : JAXX: "IF I HAVE A GOOD AGENT, I CAN INCREASE HIS COMMISSION. I MIGHT WANT HIM TO HIRE AGENT. I CAN GIVE HIM A 10% OVER-RIDE AND STILL MAKE MONEY." : : JAXX: "LET'S SAY THAT I HAVE A REP. THAT WANTS TO HIRE SOMEONE. HE CAN DO THAT. I CAN PAY THE RECRUITING REP. AN OVER-RIDE. I CAN INCREASE THE REPS. COMMISSIONS" : : That is no different than at Primerica, except that at Primerica, all the numerical details are already fixed and set into a pre-defined program, whereas Jaxx is "winging it" and doing it all by himself. So, according to YOUR definition of an MLM, If Primerica is an MLM, then Jaxx, and really, *EVERY* Financial Broker, is an MLM too! : : Hows that crow taste, by the way? : ********************************************** : The subject of being an MLM really isn't an issue. The major issues are the one sided contract and how the products compete in the marlet place. The more you recruit, the more you become locked in. If you don't tow the line and go along with the program you have the chance of everything you worked for yanked from under you. : If your ok with that, more power to you. I'm sure Sandy wouldn't have such a contract. : Now as far as the products. It's not the salespersons responsibility to inform the consumer of all the different possibilities. If you have no problem offering higher cost products to the people with the most limited assets, well that's something you have to deal with. That's something I couldn't deal with. You see when teaching the BTID concept, I know every cent counts. : I myself used to battle these message boards, but I came to the conclusion that my loyalty was to PFS and my RVP. I lost sight on what was best for my clients, my family and for me. : Buy Term=getting the lowest price and the best quality product you can. Investing the difference= Investing the difference between Term and cash value. Well that war is won. Today investing=getting the best return by using the most suitable product with the lowest fees to get the best return, and Buying Term=Shop with an independent or even with 800 numbers and the internet. : To get a real perspective read that book put out about Sandy Weill and Citigroup. It shows how Art was basically forced out, and then at the end, it semed that in an indirect way, the same thing happened to Sandy. : The real kicker was that the only thing Sandy knew about AL Williams/PFS was that they were a distribution machine with access to the lower middle/middle income market. It's all about market share. Read the Book. Just know this, if you sell it, I can replace it. If you recruit them, I can offer a better contract, and training, so as Art used to say "we have locked those jokers out". You can't win.

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