This review is all about the Freedom Equity Group. Do you want to know if it is a legit MLM company or just a scam? Are you wondering if you can really earn from this opportunity? Well, I suggest that you read this review in order to learn more about it.
Company Name: Freedom Equity Group
Owner: Ronald Bloomingkemper, Ronald Petrinovich and Bill St. Clair
My Rating: 6.5 out of 10.0
What is the Freedom Equity Group?
Freedom Equity Group is a multi-level marketing company that acts as a distributor of life insurance products. Basically, the company gets their products from other companies. We can say that they act as the middle man.
It was founded in the year 2002 by Ronald Bloomingkemper, Ronald Petrinovich and Bill St. Clair. The founders are experienced and this company has existed for many years so you can expect the business to be stable.
In this review, I will take a closer look at this company and try to determine whether this is a scam or not. This is based on my honest research about it. I recommend that you read the entire review before thinking about joining this company.
How Does Freedom Equity Group Work?
There isn’t much information available about the compensation plan on their website, but I was still able to find a lot of information about them.
There are two ways of making money and they are selling and recruiting. The selling part is not as profitable as the recruiting part and I will get into the details soon.
In the beginning, you will earn a 30% commission from your sales. Since the product is life insurance, it will take some time for the client to get approved and you will not make any money immediately.
You can earn as high as 93% commission, but for that you will have to reach the highest level (CEO). It is not at all easy to reach the highest level as there are many requirements that you have to meet to get there.
So you might be wondering what are the requirements for reaching the higher ranks. The requirements are related to your personal sales, but you will never reach the higher ranks without having the required support from your downline. The higher ranks are all about having a great downline and managing them effectively.
If you are not great at recruiting, then you will not reach the higher ranks.
Keep in mind that it is not just about recruiting, but you also have to make sure that the people in your downline do really well.
They need to advance in the ranks and also make enough sales. If you have ever been in an MLM company, you might know how hard it is to build a great downline.
The company also pays Generational Overrides, but you will need to qualify for Builder Vice President or higher ranks to earn this bonus. After qualifying for BVP, you will be able to earn Generational Overrides up to 6 levels deep. The override percentage will be 8% on the first level and it will be 1% on the last few levels.
Override simply means that you will get a percentage of the sales of your downline.
One more way of making money is through the CEO Bonus Pool. You will have to reach the highest rank to earn this bonus. It allows CEOs to earn 2% bonus of the entire Freedom Equity Group organization and the payout can be really high. There are other ways of making money, but I think you have understood the basics by now.
It is very clear that this compensation plan is better for those who are great recruiters. And the sellers will have limited ways of making money. The compensation plan is not horrible, but it is not for those who only want to focus on selling.
How Much Does It Cost to Join?
You will need a recruiter to join this business so the cost of joining is unclear. It is not clear if they charge any money for joining because the product is insurance. I think that you might have to pay some money for training or for simply being a part of this opportunity.
How Much Can I Earn?
93% commission is really high and if you are able to reach the level of CEO, then you will earn much more than your expectations. The problem is that the higher levels can’t be reached by those who are not great at recruiting and managing their downline.
For instance, you will need three direct Builder Vice President legs to become a Senior Vice President.
In simple words, you will need three people that you have personally sponsored on the Builder Vice President level to become a Senior Vice President in addition to other requirements.
You can work hard, but there is no guarantee that you will find people who are willing to work hard. This company has existed for many years so there are many established distributors that you may have to compete with if they work in your area. So I don’t think that the majority of people will make enough money to think about staying in this business.
Are there Any Complaints?
Yes, and I have listed some of the major concerns below.
It takes time to build income.
They sell the dream big time and they never deliver.
In my opinion, Freedom Equity Group is not a scam and if this was not real then it would not have survived for so many years.
On the other hand, it is undeniable that you will not make a lot of money without recruiting and this is something that I don’t like. But then, I can’t recommend this company if you aren’t great at recruiting and managing people. Nevertheless, I still leave the final decision in your hands. Good luck and choose wisely.
- Teaches Entrepreneurial Skills
- Great earning potential if done right
- Support can be improved
- Climb the ranks to earn more
- Need to build a strong downline
I know that you want to invest in Freedom Equity Group because you already discovered the earning potential of this kind of business. And I also feel that you want to have a new source of income.
But let me tell you that this type of business is not a walk in the park. It requires great support in order to be successful.
On the other hand, if you are still looking for an effective way of earning, then you can also look into my personal favorite. My best suggestion would be through making your own online business with a support from community. Basically it is a modern way of making money. And this will enable you to enjoy your working time at home.
Right now, I am on my second year in this community and I am already harvesting the fruits of my labor. So, I want to share my success with you.
If you have more questions and concerns about the Freedom Equity Group, feel free to comment it below and I would be glad to interact with you.
Let me hear your experiences and personal concerns on the comments below!