Hubert Humphrey (MLM)
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Hubert Humphrey aka Steeley Hubert Humphrey, Jr. (born 1942, Macon, Georgia) is the founder of several multi-level marketing financial services corporations in the United States. Mr. Humphrey also markets motivational business material from his online store which can be accessed via his website, www.huberthumphrey.com.
Companies that he formed include Global Equity Lending (formerly World Lending Group), Global Realty Marketing (formerly World Realty Group), World Marketing Alliance, and World Leadership Group. World Leadership Group ceased business operations in December of 2008 citing current market conditions in the mortgage and real estate industries.
Hubert Humphrey was one of the original members in the A. L. Williams organization, who became well known in later years for their controversial insurance philosophy Buy Term And Invest The Difference and multi-level marketing (MLM) organization structure. Hubert Humphrey, who worked for over 20 years on the railroad, was an Amway (not to be confused with Amtrak) distributor before joining A.L. Williams, began to apply these techniques to his A.L. Williams sales organization initially without the knowledge or consent of A.L. Williams founder Art Williams.
In 1990, A.L. Williams, a private company, was sold to Primerica and was renamed to Primerica Financial Services. After the acquisition, the founder of A.L. Williams, Art Williams was no longer part of the company, Hubert Humphrey was angry that Art Williams didn't leave A.L. Williams to him, he decided to leave to pursue other interests. Since his sales organization was about 50% of the entire Primerica sales force, it was a major blow to the organization when he left.
Hubert Humphrey then created Alexander, Inc., which soon thereafter became World Marketing Alliance, Inc. The industry the new company served was still insurance and investments, however the product was different. Contrary to the ALW/PFS philospohy of Buy Term And Invest The Difference, Hubert's new company concentrated on marketing Variable Universal Life (VUL). WMA had the exact business model and structure as Primerica, except the product was different. As WMA grew and became noticed, it became just as controversial as Primerica, yet never grew to the size of Primerica. Hubert Humphrey sold certain assets of World Marketing Alliance to Aegon in 2001. The company commonly known as World Marketing Alliance became World Financial Group. The remaining assets of World Marketing Alliance retained by Hubert Humphrey included WMA Mortgage Services, Inc., which became the foundation for World Leadership Group and Global Equity Lending.
World Financial Group is also known as WFG (Aegon), formally World Marketing Alliance or WMA.
Global Preferred Holding and World Leadership Group are separate entities, and not related to WFG.
[edit] See also
- World Leadership Group (MLM), founded by Hubert Humphrey.
[edit] References
- Feldman, Amy (May 2000 (Vol 29 Issue 5)). "Hubert the Great". Money Magazine. http://www.amyfeldman.com/articles/00may_money_hubertthegreat.html. URL accessed on January 24, 2006.
- David, Chu (Oct. 5, 2008). "Greatest Ponzi Scheme in History". http://www.fourwinds10.com/siterun_data/business/corporate_fraud/news.php?q=1224542089. URL accessed on April 5, 2009.
- http://www.judicial.state.sc.us/opinions/HTMLFiles/COA/4442.htm
[edit] External links
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