Talk:Primerica

Multi-level Marketing

Primerica is a MLM company, so I don't understand why this always kept getting deleted. The company identifies itself as so, therefore we have to stop these disruptive edits where someone adds "features of MLM" and leave it as "is a MLM company..." —Preceding unsigned comment added by Timberlax (talk • contribs) 20:04, 9 March 2008 (UTC)

I don't see where Primerica identifies itself as a MLM, they actually do the opposite. —Preceding unsigned comment added by 70.53.154.63 (talk) 16:26, 2 April 2008 (UTC)

Primerica does not identify itself as MLM. If you do think they do, prove it with something as a reliable source and until then leave it out.

Primerica is a Network Marketing Company. It has aspect of several types of company structures including MLM. The biggest difference, no one is required to purchase products and no money is made from recruiting. The individual structures are more like brokerage firms. One broker (RVP) with multiple agents (All below RVP). Rjhancock (talk) 05:46, 7 September 2008 (UTC)

Primerica is registered not as a Multi-Level Marketing company, but as a business. It would make sense to look that up first wouldn't it? —Preceding unsigned comment added by SMoKeCoDE (talk • contribs) 17:22, 18 September 2008 (UTC) m —Preceding unsigned comment added by 75.212.109.202 (talk) 12:23, 2 July 2009 (UTC)

To day that Primerica is not a MLM is either dishonest or ignorant. The fact is that people join and recruit others who in turn recruit others and so on. It is exactly a MLM. People run away from the MLM tag because it is (wrongly) associated with Ponzi schemes. The reality is that MLMs are amazaing ways to market products from toilet paper (Amway) to vitamins (Herbalife) to financial products (Primerica). —Preceding unsigned comment added by 75.212.109.202 (talk) 12:17, 2 July 2009 (UTC)

Primerica is a Modified General Agency. Not a pyramid nor a MLM. Pyramid's are illegal and MLMs a paid to recruit. Primerica is neither. rjhancock (talk) 20:11, 4 August 2009 (UTC)

Don't Primerica's agents receive part of the percentage of the sales their recruits make? If so, they don't necessarily make money when they recruit someone, but they do have a strong money incitative to recruit people, as with recruits making sales, they will make money than someone who has no recruits, it's just that this money is not as guaranteed as in "pure" MLM . —Preceding unsigned comment added by JFCmtl (talk • contribs) 04:06, 15 February 2010 (UTC)

Not really. It's an override commission. Much like your boss getting paid more than you and receiving a bonus off of your hard work. It is NOT taken from the downline agent. The incentive isn't so much on the recruiting aspect as it is on developing those recruits into RVPs. The override is actually quite common in many fields. Real Estate, car sales, brokerage firms, insurance companies, etc. Most companies don't have a system like Primerica's. For example, in real estate, you are encouraged to have agents, but not encouraged to turn them into brokers. When they turn into brokers, the original broker loses all overrides. In insurance, if you are the "key" agent, and someone else wants that position, they must prove themselves. When they become the "key" agent, the agent that recruiting them loses the overrides. In Primerica, you actually get paid MORE by building and developing other RVPs.

In all honesty, it's becoming financially independent. Only way to do that is to build a business that pays you regardless of whether you work or not. Only way to do that is to recruit people to do the work so you don't have to. When that happens, you the owner receives an override from the work of others. How is that bad when you are encouraged to helps others do the same? rjhancock (talk) 06:59, 17 February 2010 (UTC)

POV in Criticism

In 2007 Primerica's licensed agents earned an average of $6820 in compensation. The income level that an agent achieves is also depicted upon the licenses obtained, contract level at which the agent receives commissions and the amount of personal production and commission-based business written in the field as well as the size and activity of an agent's downline. Generally, Agents who work hard and persevere will make the most money.

This is 3/4th of the paragraph on criticism in the company. How is this criticism? I have read through the talk and can see that numerous representatives work hard to polish the company's reputation, surely they can at least see that this is unacceptable, this page is categorized as Multi-Level Marketing, why is this not more clearly stated in the criticism section. 96.30.173.183 (talk) 02:40, 28 August 2009 (UTC)

Primerica is a modified general agency that uses the network marketing method. Primerica is not a multi-level marketing company. This has also been stated above. rjhancock (talk) 13:36, 6 September 2009 (UTC)

Wikipedia should include all significant views found in reliable sources. If some folks say it's a multi-level marketing organization, and others say it's a modified gernal agency, then we should include both of those views. See WP:NPOV.   Will Beback  talk  23:33, 8 September 2009 (UTC)

That's fine, however Primerica IS registered as a Modified General Agency. The formation was taken from how Real Estate Brokerage houses work (A broker overrides agents). Many insurance companies also use a similar model. Neither are considered Multi Level Marketing companies however even though they market the same way as well as additional methods. rjhancock (talk) 00:16, 10 September 2009 (UTC)

Find a source that says so and add it.   Will Beback  talk  00:49, 10 September 2009 (UTC)

I'm not exactly sure where to add it, however, it is listed on Citi's history page of Primerica [[1]] starting in the 1984 section and on. AL Williams is referred as a general agency. rjhancock (talk) 05:06, 10 September 2009 (UTC)

It's a bit unclear. "A. L. Williams general agency." It's not a sentence. And it refers to a predecessor entity, not Primerica. But if you want to say that AL Williams was referred to as a "general agency" then the source would appear to support that.   Will Beback  talk  05:12, 10 September 2009 (UTC)

Technology

RE: The recent tech updates. Some of the news was released internally and not publicized. I've tried to locate public sources to no avail. I do think it is newsworthy to note that Primerica agents can do applications on their phone as I've yet to hear of other companies allowing that. Most either require filling out a paper application, or online/over the phone. I have heard of one of Primerica's copy cats allowing securities applications soon though. rjhancock (talk) 15:20, 10 December 2009 (UTC)

If it's newsworthy then let's wait until it's been reported in the news. Every company has technologies for internal communication. But in general we don't report that XYZ Co. has just installed pneumatic tubes, or that Amalgamated Industries has added to its fleet of carrier pigeons, or that United Widgets has switched to using organic paper in their memos. And many things are reported in internal memos that are not news either, such as changes to the dress code or 401k program. Let's stick to verifiably summarizing reliable sources using the neutral point of view.   Will Beback  talk  19:36, 10 December 2009 (UTC)

Although the finer details are not newsworthy, I do believe the architecture change is at least noteworthy. Section was shortened to reference the article with a paraphrases excerpt. rjhancock (talk) 22:30, 10 December 2009 (UTC)

We need a secondary source, not just a press release from the firm, to show that this is notable in any way.   Will Beback  talk  23:35, 10 December 2009 (UTC)

New Company

Today, PFS is announcing a massive amount of changes to the company (public facing stuff should be released via PR) including name changes, logo changes, structure changes, etc. Since I am no where near skilled enough (as of now) to make said changes, shall I just post the PR links once released and let someone else do the edits? rjhancock (talk) 15:27, 4 January 2010 (UTC)

Name Change

Effective on April 1st, Primerica's name will officially change to Primerica, Inc and not be Primerica Financial Services. Effective that date, PFS will also no longer be a sub of citi-holdings. rjhancock (talk) 22:14, 16 March 2010 (UTC)

Source? If so, we should probably move the article to the new name on that date. The article should retain the use of "PFS" for the old company and use the new name for future material. It should also be removed from the Citigroup category then.   Will Beback  talk  21:32, 18 March 2010 (UTC)

This should suffice. Almost every article on the IPO deals with Primerica, Inc and not Primerica Financial Services. Primerica, Inc is the new company that will eventually be the parent for all the subsidiaries (life, securities, etc). AM Best Rating ReAffirmation rjhancock (talk) 05:52, 19 March 2010 (UTC)

Criticism

Looks like the one line paragraph was pulled from the disclosure page. Is that even noteworthy since it really isn't criticism? rjhancock (talk) 19:46, 12 April 2010 (UTC)