Hi and welcome to my Freedom Equity Group review. You are probably thinking of joining the business and just want to be sure if you are moving on the right path. Or maybe you just joined and just want to learn a bit more about the business.
It’s great that you are doing your research because the last thing you want to do is invest your hard earned cash in a business only for you to end up out of pocket. Take my word, that happens a lot of times.
Sit back and let me take you through this business and hopefully you will find out whether it’s worth investing your time and money in or avoiding it all together.
So just what is Freedom Equity Group? Is it a scam or legit? Can you make some good money with the business? Well, let’s find out, shall we?
- Company Name: Freedom Equity Group
- Website: freedomequitygroup.com
- Owner: Ronald Bloomingkemper, Ronald Petrinovich, and Bill St. Clair
- Price: $125 to join
- Rating: 6.3/10
Are You Looking For a Way to Earn Passive Income Online?
It seems like any business can be turned into a multi level marketing outfit, which is exactly what Freedom Equity Group is in essence. For the diehards, they might tell you something different which is the reason I write reviews like this. I believe everyone deserves to be well informed before pouring out their hard earned money in a business venture.
Freedom Equity Group is multi level marketing business whose product is insurance. Founded in 22002 by 3 ex- Primerica employees, the company sells life insurance and annuities. And so just you know, if you are over 65, you will not be in the game. That to me is the first red flag but we are just getting started.
Insurance is a big business. As far MLMs go, there will be no shortage of people selling you an insurance premium that comes with the promise of making even more money by recruiting others into the business. In most cases your prospective downline will come from friends and family.
Ronald Bloomingkemper, Ronald Petrinovich, and Bill St. Clair know the business. Apparently Bloomingkemper was an A.L. Williams associate agent which morphed over the years to become Primerica.
Freedom Equity Group enjoys an A plus rating with the Better Business Bureau.
I was a bit surprised to see that there is hardly any information on their website on the policies that they have or what it would even cost. Insurance is tricky business. People look for policies to cover themselves. It’s a highly competitive industry and so its good to be clear upfront.
After a bit of research I learned that they sell Variable Life Insurance, Mutual Funds, Living Benefits, and a Tax Free Income.
They don’t own these products par se but rather they distribute the products on behalf of other companies so policies can differ.
How it works
As I mentioned insurance policies can go in various directions. You obviously looking for a policy that is pocket friendly, and yet addresses all your concerns. You can always shop around and come up with a pretty good deal.
With Freedom Equity Group, just like almost every other MLM out there, it has little to do with the product. It has everything to do with recruiting other people into the business and earning commissions as you build your team.
Like all MLMs, they do have a compensation plan. Commissions range from 30% at entry level to 70% at the higher end. Not bad at all.
To get a more detailed account of what’s inside check out this PDF
Pros and cons.
I am not sure of your background but if you have that natural gift of the gab that some people possess, then this could work out great for you. If you are like me then it’s a different ball game.
The commissions are also pretty good compared to other MLMs.
Not everyone is born a salesman, so if you don’t have it you can’t have it. This is the recruiting business so you will need to learn how to close a deal if you expect to make any money.
There are also a lot of complaints online about their customer service. Any business that does not provide prompt and efficient assistance to its members or associates is best to be avoided.
Also as I mentioned earlier if you shop around you can get some pretty good deals on the policy you are looking for. But of course, Freedom Equity Group in as a much as they claim to be in the business of selling insurance, the business they are in is getting in as many people through the door to do all the hard work for them while they sit back and reap the benefits.
Which leads me to my next point.
The MLM narrative.
The last time I was approached by a guy selling an MLM opportunity to me, I knew him from the time he asked me the BIG question
Have you ever thought of a way of earning some passive income by going into business?
The guy was a total stranger to me. Doesn’t that not hit you as odd?
I’v been there, done that. I have been involved in two MLMs in my life. It doesn’t work for the majority. And by majority I mean almost 99% of consultants or agents or whatever fancy name they call themselves make little to no income.
Products move because many of these companies demand that you maintain a certain amount of sales in order to qualify for commissions.
Of course everyone looks up to the guy on the podium who shares his journey from rags to riches. Top producers are normally highly successful. They become pillars of hope for the masses. If he or she can do it, so can I.
But can you?
How many people will you have to approach to even make one sale. Don’t let them deceive. It’s not one in ten. You can easily go through hundreds of contacts, majority probably on your phone book and not get a single person to join your golden opportunity.
Multi level marketing is as dodgy as hell.
According to The Balance Small Business, less than 1% of all people who join multi-level marketing businesses succeed.
Mary Kay once described the business as filling your bathtub with the sinkhole open. Most people will be gone once they realize just how difficult the business is. The fall out rate is massive.
You are not really running a business. The people running the business are the people whose products you are selling. You are just an overrated sales person.
I would say Freedom Equity Group seems like an okay company. Not out of this world but okay.
It’s a great business for those who have the energy for recruiting.
There is not much in terms of training that can help you really grow your business. All you have is the word of your upline who might not be as qualified in selling insurance as you may think.
That being said, Freedom Equity Group is not a pyramid scheme like some people would claim. With pyramid schemes, the last guy always emerges on the other end with nothing. At least you have cover.
Opinion is always divided as to whether this sort of businesses are scams or not. I suppose it all comes down to who is making money and who is not. Most people who don’t make it will be crying foul while those who succeed will be accusing the losers of lacking the patience to grow the business.
I have been involved in network marketing before and I know how the game plays out. Network marketing by its very nature is a legit way of doing business and people succeed big time in it. In fact, there are millionaires in the industry.
There are however so many half truths that new recruits are exposed to that it makes it hard for one to have full confidence in the business. A common line that is always used is that it is easy to get into since you only need to buy a starter pack and you are in business.
Problem is, your costs will soon add up pretty fast once you start buying different packages just to stay in the business.
Perhaps the biggest red flag to MLMs is recruiting. Seldom do people even talk about the products. That’s because no one makes money just by selling products. Are you ready to start hitting on your friends, colleagues and relatives in effort to convince them to buy your products?
Can you build a business without recruiting
Many people who become successful online marketers have probably been through some sort of multi level marketing. In the years I have been in the marketing industry I have come to learn that the only way you can make money selling products is by having your own website.
In fact you don’t even need to own the products to earn commissions with a website. And neither do you need to spend money to own one.
Why run around chasing after people to join your opportunity and yet you can reach the billions of people who are connected on the internet today.
If you belong to the 99% of the people trying desperately to make money recruiting people to their business, how about you check out how I make money online without having to recruit.
MLMs are a waste of time. You really need to ask yourself whether you stand a chance to make money. If you feel you have what it takes then by all means go for it.
Many thanks for reading my review. If you have a question or a comment on the Freedom Equity Group business opportunity, please leave it below. I would love to hear from you.
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