Not many people, that’s for sure. As with any multi-level marketing company, a tiny fraction of people at the very top of the recruiting pyramid make some money, and everyone else makes little to nothing.
Here are the numbers posted on a UFF agent’s website in August 2008 (click to see full size): Continue reading
Today I received some interesting information on United First Financial, the company selling the $3,500 Money Merge Account. Here is a listing of all UFF agents (warning: large file download), showing that there are 59,703 agents on the rolls.
The fee to sign up as an agent is $175. Multiply that by 59,703 agents, and you see that the company has brought in over $10.4 million just in agent fees. Not a bad payday just for allowing people to sell overpriced, ineffective software. Continue reading
Probably the biggest single lie told by United First Financial “agents” is that you can pay off your mortgage faster than scheduled, with no change in your spending or lifestyle. That sounds too good to be true, because it is.
Simple math debunks this claim. Think about it. If you’re currently paying $1,500 a month on your mortgage and you’re scheduled to have it paid off in 30 years, how would you pay it off earlier? The only possible way to do that is to pay more than $1,500, right? Continue reading
“The UFF program is the ONLY program on the market with these exact features and benefits.”
Of course it is. If it could be compared to anything else, consumers would quickly see that it’s not all it’s cracked up to be. It needs to be some secret, special, super-duper, can’t get it anywhere else program or no one will pay the outrageous fee of $3,500 for it.
“We have a 97.6% retention rate.” Continue reading
I found this interesting description of the deception involved in selling the United First Financial program to unsuspecting consumers for $3,500: Continue reading
In researching United First Financial and the Money Merge Account, there weren’t many sources of information on the compensation structure for agents. What I do know is this: The official corporate website does not mention “the opportunity” or “business opportunity,” as most other multi-level marketing companies do. I came to the conclusion that the company doesn’t want to be labeled as a MLM or potential pyramid scheme.
The logic is obvious: Consumers are becoming more educated about the pitfalls of MLM. They realize that because the company has to pay so many levels in the food chain of an MLM, the actual seller of a product receives relatively low compensation. If the company wasn’t worried about building and paying the pyramid, there would be far more money to reward and compensate the actual seller of the product. Continue reading
Yesterday I wrote about my research on a multi-level marketing company called United First Financial. My problem with the company is not that what they’re selling isn’t good or doesn’t help people. The plan can help people pay down their debt faster. I just don’t believe handing over $3,500 for something you can get for far, far less makes sense.
The banking product utilized (mortgage accelerator loans) is available to consumers without this big fee. For a few hundred bucks up front, plus a very small annual fee (less than $100), you can get this product from a bank or mortgage lender. No need to shell out $3,500 up front! Continue reading