Wealth Generators aka Team Wealth Colony aka My Wealth Generators aka Glyn Taylor Earn Cash With Glyn Kevin Gull Varlin Law Barry Phillips MLM Scam Wealth Generators aka Testimonials are not current, profits are not real, traders are not making money Utah
First Red Flag
LOTS OF NAMES
mywealthgenerators.com
teamwealthcolony.com
earncashwithglyn.com
wealtheng.com
Second Red Flag
Network Marketing aka MLM aka Pyramid Scheme
This is not the only MLM trading company that will likely close its doors just like many beofre. Please keep in mind I am not Anti MLM, I subscribe to many products from MLM's but there is a huge difference between ligit MLM's with good products and companies like this.
A company called Uprize in Utah formed by Glen Jensen a Network Marketing Pro couldn’t even make it work.
Third Red Flag
Money Back Guarantees
Anytime you hear this it should be a warning and for some reason I ignored it. To get a refund you have to do ridiculous requirements. This is not the big mistake. The money I experienced in following the trades was at least 10X the amount I paid these guys. Which leads to my next point.
Fourth Red Flag
Too cheap
The price is way to cheap, it makes entry for anyone easy but average people do not realize that this is a bad thing. Guys are making money signing people up and making a residual off of traders. It will 6+ months to finally figure out you are loosing money. I would challenge you to talk to even those who have provided testimonials to see where their accounts are today. As I found all in the negative. This is a network marketing strategy. They are making money and marketing through their network. Over 90% of their traders are people who have never traded. Which makes sense. These people including myself have no idea what day trading really is so we learn the hard way after companies like this take our money and have no accountability for our thousands of dollars lost in the market.
Fifth Red Flag
Company Names – do some research before they delete their LinkedIn Profiles on all the different names and companies they have started and have failed in 1-2 year periods. This is an indication that they have to because of reports like this begging to pop up. Also you will notice people that are network marketers not traders in their experience. There is no question they will change their name again months from now to avoid people find this report. I will do everything I can to link them each time they do.
Kevin Gull – President
Varlin Law – Executive Vice President
Barry Phillips – Executive Vice President
Ryan Smith – Founder
Annette Raynor – Founder
Chad Miller – Founder
M. Arthur Romano
Don't make the mistake I made, these guys are not honest. These guys lost money for many of my family and friends alone with mine own. Share your experience along with mine. I know it is hard to be brave and post things like this but give back and protect those who may get hurt. I know these guys will likely reply to this and post a bunch of bogus testimonials after this having no regard towards all the people they have hurt and will continue to hurt.
4 Updates & Rebuttals
Jamie
Kansas City,Missouri,
USA
WHY IS THIS ON HERE??
#5REBUTTAL Individual responds
Mon, June 06, 2016
This is a place for when people get ripped off - they tell their stories & try to get their money back. YOU have done neither - you haven't joined & haven't used the product. Why is your review here? Makes no sense...
Wealth Generators LLC
Salt Lake City,Utah,
USA
Wealth Generators is not associated with Glen Jensen
#5REBUTTAL Owner of company
Thu, March 05, 2015
I do not know why your comment is posted on this article about Wealth Generators. Wealth Generators LLC is not owned by Glen Jensen. He is not one of our disributors, consultants, vendor or supplier.
We do not know and cannot comment on Mr. Jensen as we have no knowledge of his companies, current or former nor any knowledge of him as a person.
It appears, by your post, that you are well versed and passionate which leads me to ask "Why would you post this against a company that has nothing at all to do with the person you are writing about?"
MLM GUY
barnegat,New Jersey,
USA
The truth about the source of this report Glen Jensen who calls MLM's a Pyramid Scheme
#5Consumer Comment
Wed, March 04, 2015
Agel Terminates CEO Glen Jensen for Breaches
by LOUABBOTT on JANUARY 17, 2011
Turbulent times for Agel team members as company terminates their founder Glen Jensen
It’s never easy for remaining associates (distributors, IBOs, etc.) of a company when high level people leave for any reason. In this case, it was Glen Jensen, the founder and CEO, who was terminated and sued for the following alleged reasons that I have excerpted out of the pertinent part of the lawsuit:
Since the opening of Agel in early 2005, the company has had it’s share of successes as well as it’s tough times, as reasonably can be expected. They opened an enormous number of foreign markets (10) very quickly, probably more quickly than had ever been done before.
Agel “busted the cap” of their binary comp plan in early 2005 necessitating “adjustments.” Later that year, though not necessarily for that reason, top leader Randy Schroeder left to join MonaVie. See Related Posts below.
It is reported now that top leader Eric Worre is also now building a business with a different company also, SendOutCards (SOC).
Editor’s comment:
In my Special Report and Course on MLM, I teach that one of the key things to try to understand when evaluating the potential longevity of a new MLM company is who the founders and officers are so that you can try to get a feel for whether or not they are in it for the long haul. When Agel opened it’s doors in 2005, I noted that Glen Jensen had already founded one company (Synergy Worldwide) and then sold it (to Nature’s Sunshine) in 2000. After the sale he was retained until some time in 2002.
At the time, I wondered, “If he sold one company when he was ready to move on, what would prevent him from doing the same thing again and might that be a red flag?” If, in fact, Jensen does start a new company, whether here or in Asia, as he is allegedly planning according to the suit, I would caution people tempted to follow him there to ask that same question again with even more weight assigned to the importance of getting the answer right.
Wealth Generators LLC
Salt Lake City,Utah,
Wealth Generators Response: Please Read
#5REBUTTAL Owner of company
Tue, March 03, 2015
Wealth Generators LLC, a Utah limited liability company in good standing responds to this unfounded report as follows:
Flag 1 - Too Many Names
As a company that selected network marketing (word of mouth) for the distribution of their product subscriptions, each distributor typically operates as a company. Some of our distributors operate under their name/social security number but others use a business entity/EIN to conduct their business. Three of the four names you list are distributors, one is a website url to identify our distributor site and one is a legal equity owner of the company.
There can and will be many names associated with the product as we have many distributors who "share" the product with others. There is nothing underhanded or misleading about this and it is common practice for any company, not just MLM's to enable their distributors to market their products under their company name.
Flag 2 - Network Marketing aka MLM aka Pyramid Scheme
We are not a pyramid scheme and your reference to such is a libelous claim. We research, create, and deliver trading strategies to paying members on a subscription basis. If you subscribe to our products and pay the monthly subscription it is because you desire to receive our trade strategy information. In addition, you can cancel at ANY TIME, there is no requirement to remain a member and there are no contracts that require on-going payment. We simply distribute our subscription based product via a network marketing model. For us it was simple: our best subscribers come from existing members so we decided to implement a model that would pay our members for sharing versus traditional advertisers.
Flag 3 - Money Back Guarantees
We have a very simple policy and there is nothing difficult or complex about it. 1. Cancel at any time during the first 3 days for a full refund. 2. Cancel your membership at ANY TIME for ANY REASON with no fees or penalty – no questions asked.
These are our basic guarantees to ensure customer satisfaction. In addition we offer a:
TRIPLE YOUR MONEY BACK GUARANTEE which simply states: if you trade one of our three pack strategies for a six month period and lose money in your account then we will reimburse you 3x your monthly subscription. You do not have to execute the trades in a LIVE account you can use a VIRTUAL OR PRACTICE account. We simply need documentation that you placed each of our trades and managed them accordingly.
We do not have one member/subscriber who was denied a cancellation or refund when they contacted us. Not one.
Flag 4 - Too Cheap
You state our product is too cheap. I am not sure what your complaint is here. We worked very hard to deliver a reasonable priced product so that everyone can participate in the capital markets. Free market principles require the ability for many people to access it – not just the elite. Our program enables individuals to enter the market for themselves using affordably priced information to assist their trading efforts. This is a positive for our members, our product and our company and any reference otherwise is purely untrue.
Flag 5 - Company Names
You state: "do some research before they delete their LinkedIn Profiles on all the different names and companies they have started and have failed in 1-2 year periods."
Each of the individuals you reference are accessible, have visible presences on-line and in social media. They may have ownership in and/or operate more than one company but none of the individuals has deleted their profiles or suffered "failed" companies as you say. In addition, four of the names you list, specifically the founders do NOT HAVE ANY multi-level marketing background which is why they hired three executives (the other three names you reference) who bring the necessary experience of the network marketing sector.
In closing you make additional claims that must be addressed:
"These guys lost money many of my family and friends along with mine." We cannot "lose" anyone money as we do not trade for anyone. Each member is taught how to establish a PRACTICE or VIRTUAL account and instructed to practice until they are comfortable. Once they are comfortable they may trade at their own risk, using their own capital in an account that they establish. We do not take anyone's investment capital and we do not advise anyone.
You then go on to say “I know it is hard to be brave and post things like this but give back and protect those who may get hurt." There is nothing brave about any anonymous post. We have a toll free customer support line to handle any issue or dissatisfaction a member may have: 1.888.778.5372 which operates from 9 am to 7 pm ET. In addition anyone can submit a ticket on our site: www.wealthgenerators.com at any time or email us at: support@wealthgenerators.com
If you were unsatisfied you should have contacted us directly through any of the methods stated above and we would have addressed your issue in a professional timely manner ensuring your ultimate satisfaction even if you were a cancelling member.
Last, but not least, we do not use false testimonials. Each of our testimonials were submitted by members and they explicitly gave us permission to use their testimonials.
Wealth Generators does not make promises of trading results, each member trades at their own risk and is made aware of this in all member correspondence. We work very hard to ensure the satisfaction of our members and we take false allegations such as these very seriously