Symmetry Financial Group Review: the platform is modeled after direct selling while operating as an insurance company.
Since MLM typically features direct sales, it starts anyone going through the securities catalog. In this case, Symmetry Finance Group is the subject of many reviews varying from professional to private. Many people wonder if the company is legit for business or another pyramid.
For a start, the following points offer the context in which we explain the hands-on premium retails in the company.
- Symmetry Financial Group sells insurance.
- It also provides a sort of ordinance covering chargebacks (cash or otherwise) due to poor handlings during field operations. (Note that this information is from customer feedback)
- Moreover, it employs field agents who do the retailing and recruiting.
Besides the above highlights, the company also incentivizes recruitments via weighted bonuses, delegating on-the-spot decisions to agents in the field. It is against this background that a member of the platform wound up in a lawsuit. We will get to this point later.
One thing noticeable about the company
Symmetry Financial Group Review: driving up the compensation tiers via typical MLM downlines and referral lattice is the first cue to Ponzi here.
It invariably winds down to the same thing at the end. Please, be clear on one thing: selling items of trust securities is not akin to Ponzi.
However, recruiting people into an MLM downline grid in the promise of percentage commissions is a sure sketch of a pyramid scheme.
Read on below for detailed information.
Symmetry Financial Group Review: What it offers
The mission seems to be brokering insurance covers for families. You can see it in this clip from the website.
Safety for your family: It is our goal to provide you with coverage that enables you to live the life you want to live if the unthinkable were to happen.
That is a welcome change from the trope to provide passive earning options for people (often used by MLM operators). So, Symmetry Financial Group sees you through acts of God incidents, cropping the products to suit family budgets.
Also, the company, and incorporation in North Carolina, is managed by the Bank of America. Its partners include Gerber Life, Foresters Financial, Athene, Americo, AIG, American Amicable, etc. The platform has corresponding laudations for best performance from Entrepreneur (this is from the website).
As credits, the company gets an impressive review (taking averaging values from readers’ votes) on Glassdoor and several other independent reviews online.
Further, operating in the US, where regulation is a rebuff for less-than-par security handlers, is also an impressive positive score for the platform.
So, you can get the following insurance services from Symmetry Financial Group.
- Life Insurance
- Mortgage Protection
- Retirement Covers
However, there remains the issue of litigation that involves the managers of Symmetry Financial Group. The same issue cues the untenable prospects of earning via MLM and shrunken loyalty bonuses.
See below for details.
MLM Shielding Symmetry Financial Group from Lawsuits
Symmetry Financial Group Review: the company fends off a litigation by Jane Doe, a client, by severing an allegedly erroneous contract.
Of course, this is where MLM constitutes the worst issue for clients. It offers the perfect excuse for the over-arching operators, who can conveniently sever the asset in dispute from any sales contracts undertaken by an agent.
That is the case in the lawsuit filed by Jane Doe in the United States District Court for the Southern District of New York.
The direct sales model employed by Symmetry Financial Group, MLM, does not attach oversights to expenses covered by the company. During the court proceedings, Symmetry detaches from financial advice proffered by Robert Ciai, a Symmetry Financial Group. How is this possible?
Well, it is all in with the delegated work gimmick. There is enough loophole to shroud any claims that might implicate the company.
How does this bear on trading/buying securities from an MLM company? See the following section of this Symmetry Financial Group Review for answers.
Symmetry Financial Group Review: the instance provided in the section above is only the tip of the iceberg, as per the damage wrecked by delegated over-the-counter services.
Symmetry Financial Group perfects the ruse for a disinterested party between its agent and clients by registering as a privately held company.
Moreover, the company stays afloat by spurring recruitment with percentage commissions, providing sufficient incentives to keep field workers in the business.
As regards its revenue source, Symmetry Financial Group inserts a bit of a hurdle for newbie agents. Although the terms appear fuzzy, it seems to require all aspiring sellers to foot the cost of operating the sales for the first three months.
By implication, workers waive their profits in this period, contributing to the cash pool of the company. That is steep on the side of compliance for a lifesaver. Apparently, the MLM part is the biggest red flag about Symmetry Financial Group.