Freedom Fairness Group function within the insurance coverage MLM area of interest.
The corporate was based in 2002 and relies out of California within the US.
Heading up Freedom Fairness Group are co-founders Ron Bloomingkemper (Chairman), Ron Petrinovich (CEO) and Invoice St. Clair (President).
Based on Bloomingkemper’s company bio, he’s
been within the life insurance coverage and annuity enterprise for greater than 40 years.
As an proprietor and co-build of Nationwide Advertising and marketing Alliance, which produced over 40 Billion in face quantity of insurance coverage, he helped create one the very best producing firms within the US.
Ron Petrinovich and Invoice St. Clair got here throughout with Bloomingkemper from Nationwide Advertising and marketing Alliance.
In 1992, Invoice started his working relationship with Ron Petrinovich, and Ron Bloomingkemper heading up the annuity division of Nationwide Advertising and marketing Alliance.
Previous to co-founding Freedom Fairness Group, Bloomingkeeper is reported to have been selling A.L. Williams and Primerica. I consider this makes up the majority of his “greater than 40 years” within the insurance coverage and annuity enterprise declare.
I wasn’t in a position to definitively set up why Nationwide Advertising and marketing Alliance was successfully rebooted as Freedom Fairness Group. I did word Nationwide Advertising and marketing Alliance had troubles with a minimum of one among their insurance coverage companions.
Learn on for a full overview of Freedom Fairness Group’s MLM alternative.
Freedom Fairness Group’s Merchandise
Freedom Fairness Group markets listed common life insurance coverage and annuities via third-party companions.
Not having an insurance coverage background, I used to be clueless as to what an IUL or annuities are. As linked, Investopedia has first rate articles explaining the ins and outs of each.
Are Freedom Fairness Group’s plans aggressive or worthwhile? That I can’t reply as a result of no specifics are offered on the corporate’s web site.
I get that insurance coverage premium’s fluctuate from particular person to particular person, however Freedom Fairness Group don’t even present primary data about IULs or annuities.
Freedom Fairness Group’s Compensation Plan
Moderately than present compensation documentation to the general public and potential associates, Freedom Fairness Group solely focuses on earnings potential.
I do know this as a result of I went via each single “presentation” and “compensation” video offered by the corporate.
The next evaluation of Freedom Fairness Group’s compensation plan is what I used to be in a position to piece collectively from quite a few shows.
If I’ve left something out, it’s as a result of Freedom Fairness Group are extra enthusiastic about dazzling potential recruits with greenback indicators than offering precise compensation data.
Freedom Fairness Group Affiliate Ranks
There are six affiliate ranks referenced in current Freedom Fairness Group shows:
- Coaching Consultant
- Consultant
- District Supervisor
- Division Supervisor
- Regional Supervisor
- Regional Vice President
I used to be capable of finding qualification standards from 2017 however it was for various ranks. Notably there have been ranks larger than Regional Vice President however I wasn’t in a position to affirm they nonetheless exist.
What we do be taught from the 2017 data is that Freedom Fairness Group rank development is tied to commissionable quantity generated by way of coverage gross sales.
These premiums might be bought to retail prospects or recruited associates.
Commissionable premium quantity is cut up between private manufacturing and downline manufacturing.
Freedom Fairness Group rank development can also be tied to particular person and staff recruitment efforts.
Direct Commissions
Direct commissions are paid on insurance policies taken out by retail prospects and personally recruited associates.
- Coaching Representatives earn 30%
- Representatives earn 35%
- District Managers earn 40%
- Division Managers earn 45%
- Regional Managers earn 55%
- Regional Vice Presidents (and probably above) earn 70%
Word that these are percentages of commissionable quantity generated by coverage gross sales, not percentages of coverage gross sales themselves.
Residual Commissions
Freedom Fairness Group pays residual commissions as downline overrides, tracked via a unilevel staff.
A unilevel compensation construction locations an affiliate on the high of a unilevel staff, with each personally recruited affiliate positioned instantly beneath them (degree 1):
If any degree 1 associates recruit new associates, they’re positioned on degree 2 of the unique affiliate’s unilevel staff.
If any degree 2 associates recruit new associates, they’re positioned on degree 3 and so forth and so forth down a theoretical infinite variety of ranges.
Overrides are paid on Regional Vice Presidents present in every unilevel staff leg.
Residual commissions are paid on as much as six Regional Vice Presidents per unilevel staff leg.
- the primary upline RVP is paid a 14% override
- the second upline RVP is paid a 9% override
- the third and fourth upline RVPs are paid an 8% override
- the fifth and sixth upline RVPs are paid a 7% override
Becoming a member of Freedom Fairness Group
Freedom Fairness Group affiliate membership is $125.
I famous point out of further “license charges” in advertising movies, which have been quoted as costing “two to 3 hundred {dollars}”.
Though not clarified, I’m assuming these are insurance coverage license charges. They fluctuate from state to state therefore the obscure determine quoted.
Conclusion
Though I wasn’t within the MLM alternative, I nonetheless felt that in researching the corporate I used to be being covertly put via a advertising funnel.
I consider it is a by-product of Freedom Fairness Group’s age.
The tip end result was me losing time and getting pissed off over not studying what I wished to know. And I suppose the concept is then that I method whoever launched me to get the knowledge I really wished within the first place.
In 2020 that’s not adequate. You’ll be able to possibly gatekeep detailed compensation particulars with a abstract (which isn’t offered), however primary product/service data? Yeah, no.
Outdated advertising techniques designed by maybe outdated entrepreneurs themselves.
Given the shortage of specifics offered, Freedom Fairness Group’s shows come off as hype advertising that rings hole.
We consider in mounted, assured no danger merchandise, that supply our shoppers a possibility to obtain a GUARANTEED LIFETIME INCOME.
Along with guaranteeing earnings, company Freedom Fairness Group shows additionally assure success.
I’m gonna inform you this, Joe and Susie, you follow me (and) you’ll change into a Regional Supervisor.
Just about that’s a assure. You’re going to get there with my assist. We’re gonna do it collectively. I’m right here with you.
The one approach you’re not gonna get right here is you give up.
And should you give up within the first 12 months, Joe and Susie I need you to know this, you give up within the first 12 months you didn’t give up ’trigger you by no means even acquired began.
The fact nevertheless is much much less… assured. Based on Freedom Fairness Group’s 2018 Earnings Disclosure Assertion;
From January 1 via December 31, 2018, FEG paid money move to its gross sales drive at a mean of $7,084, which incorporates commissions on all strains of enterprise to licensed representatives.
$7,084 yearly sounds awfully low regardless of all of the ensures Freedom Fairness Group makes. And it’s a heck of loads lower than earnings potential offered in Freedom Fairness Group shows.
In order for you a literal sense of what I’m speaking about with the entire advertising funnel factor, have a hear via a few of Freedom Fairness Group’s shows your self.
There’s loads of frowning upon “J.O.Bs” and different dated MLM advertising cliches.
The opposite side-effect of Freedom Fairness Group’s lack of transparency is that it feels very very like a closed group of associates, versus an organization making an attempt to promote to the general public. By that I imply I’d be stunned to be taught the vast majority of coverage holders company-wide weren’t presently or previous Freedom Fairness Group associates.
The tone of the advertising movies additionally helps this (loads of “you get two, they get two, they get two” and so on. and so on.).
Can’t say for positive due to aforementioned transparency points, however that’s the impression I used to be left with.
Except getting advertising funneled via a dated “Do you know x% of American households are …” system, may be finest to provide Freedom Fairness Group a miss. The corporate has a protracted method to go if it desires to compete in a twenty first century market.