- Report: #676004
Complaint Review: Simwey Financial Group - Peoria Arizona
Reported By:
Ex- Employee -
Peoria, Arizona, United States of America
Submitted:
Updated:
-
Author Not Confirmed
Why?
Simwey Financial Group
9185 W Thunderbird Rd # C104 Peoria, 85381 Arizona, United States of America
Phone:
602-443-6400
Web:
Categories:
Business Rating:
(0)
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Simwey Financial Group Scam,Rip-off, Waste of time. This place is a complete joke. Peoria , Arizona
This place is a complete joke. Save yourself some hassle and money and do not waste your time with these liars.
It will actually cost you money out of your own pocket to start working for this company, because of the licensing they will make you obtain and pay for.
There were a lot of flags that I ignored when I got suckered into their scam. First of all I was hired after two interviews which lasted maybe 5 minutes combined. They never really asked me any questions that were relevant for the sort of job they were describing.
Some other signs were the fact that they were hiring bunch of other people at the same time, and if everyone is going to have their own branch in couple of years why are they still at this shitty spot in Peoria after all the years in business?
As described above the hiring continues every week, and the reason is that as long as they can sucker each person out of few contacts to sell life insurance they achieved their goal.
By the time I left the only had about 4 other people working there, but they were hiring a bunch more. The constant turnover is incredible and that alone speaks volumes about the sort of place this is.
They claim they will share their house accounts provide salary, benefits, and 401k and all that good stuff. None of this is true. There is no salary until you earn thousands of dollars of revenue for their company and get couple of promotions, and even then you will only receive the so called "salary" or your commissions whichever is higher...
At the end what these people are calling Management Trainee is a life insurance salesman job, and as if that wasn't bad enough you will either end up hassling all your friends and family to buy life insurance or you will became a telemarketer making cold call all day long.
1 Updates & Rebuttals
David Simmers, Owner
Peoria,Arizona,
USA
Owner's Response
#2REBUTTAL Owner of company
Tue, February 22, 2011
The Financial Services Industry is not an easy industry to get started in for a number of reasons. It is very highly regulated with various licenses being required to work with clients. All licenses require the passing of exams. An individual can get their Arizona License on their own at a cost of $407 for the study material, classes, testing, and the licensing fee for their Arizona State License. We do all of this at a cost of $249 for our new employees that are entering the Financial Services Industry for the first time. If we offer a position to an individual that already has their Arizona State License, there is no cost. I am not aware of any company that pays for the Study Material, Licensing Test (that requires a minimum of 70 to pass), and the Arizona State Licensing fee of new Professionals that want to enter the Financial Services Industry. • We have Investment Professionals that started their careers in the Financial Services Industry with us and today have over 300 clients that they work with to help reach their investment goals. • We’ve had Investment Professionals that started with our Company, and have left us to start their own Financial Service Companies. • We also have Investment Professionals that started with us and have gone out on their own to set up as an Independent Investment practice. • We’ve had ex-employees with 2-4 years of training with us opt to go to work with larger Financial Service Companies such as Vanguard, USAA, Chase, and other large Investment firms and Banks. We are praised by companies such as ING, Prudential, American Funds, and Putnam for our highly trained and professional employees. Many people feel that they must first have wealth in order to invest; nothing could be further from the truth. Many people don’t realize that they can start investment plans with as little as $100 per month commitment. This past year we had over $7 million in sales of Mutual Funds, Annuities, and Life Insurance, with plans to reach $15 million within the next couple of years as we grow our staff of highly trained Investment Professionals.
