Freedom Equity Group Review: Is It An MLM Scam?

Freedom Equity Group Review

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.

What is Freedom Equity Group?

Freedom Equity Group Review

Overview

Company Name: Freedom Equity Group

Owner: Ronald Bloomingkemper, Ronald Petrinovich & Bill St. Clair

Price to Join: $99

My Rating: 6.5 out of 10.0 

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 Freedom Equity Group 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.

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Summary:

  • How Does Freedom Equity Group Work?
  • How Much Does It Cost to Join?
  • How Much Can You Earn?
  • Are There Any Complaints?
  • Bottom Line

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.

Freedom Equity Group Review

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.

Freedom Equity Group Review

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 in Freedom Equity Group 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 the training or for simply being a part of this opportunity.

How Much Can You 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.

Freedom Equity Group Review

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.

Bottom Line

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.

Pros

  • Teaches entrepreneurial skills
  • Good earning potential if done right

Cons

  • Support can be improved
  • Climb the ranks to earn more
  • Need to build a strong downline

How Can You Earn Money Online?

It seems that you want to invest in Freedom Equity Group because you already discovered the earning potential of this kind of business. It also feels that you want to have a new source of income that can help you achieve financial freedom.

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 third year in this community and I am already harvesting the fruits of my labor. So, I want to share my success with you.

Freedom Equity Group Review

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If you have more questions and concerns about Freedom Equity Group, feel free to comment it below and I would be glad to interact with you.

Let me hear your experiences on the comments below!

Best Regards,

John Rico

Freedom Equity Group Review

By john rico

I am an Online Entrepreneur and Civil Engineer in the making at the same time. I am already earning Extra Income and I want to Use this Blog to Share to Everyone what I did.

9 comments

  1. How long has it taken some of the people who are at the CEO level to get to the CEO level and the VP level? And how much are these 2 levels earning? to be able to commit to programs like these it is very important the be clear about the earnings . There is also need for the Company to open up on the team sizes that really make money. and the strategies that are being used to archive .all this is required for one to create a road map

    1. Thanks for sharing your opinion about Freedom Equity Group. For your question, it really depends on your skills and capabilities on how long it takes for you to reach the higher levels. And also your earnings depend on how you utilize the compensation plan. Did I somehow answer your question?

  2. Hi, John and thanks for this in-depth review of Freedom Equity.

    Right off the top, I have to say that it sounds complicated and a lot of work.  It also sounds like one needs to have a good knowledge of different insurance products in order to sell them and, anyone that they recruit would have to have that same knowledge as well otherwise, why get involved in something like this?

    If you have no prior experience in this field, Sales are going to be extremely hard to get.

    You mention training but have no idea how much that might cost and as you have said, If one is not willing to work hard and able to recruit hard workers and manage them, well, it sounds more like a regular business where you have to not only do your own job but also make sure your employees are doing theirs.  Am I right in this assumption?

    It also seems that because “Recruiting” plays such a big roll in this MLM,  There wouldn’t be much downtime to do other things.  Would you be recruiting family and friends? or recruiting through a website? 

    Just one last question.  Were there any statistics available that showed how much earning potential went with each higher level?

    For me, your #1 recommendation, ( which I am also part of), is a much better way to go and even though there is still a lot of work to do, I think it would be a lot less (in my estimation) than getting involved in this MLM and way more worth it in the end.

    Thanks again and all the best,

    Wayne

    1. Freedom Equity Group is an MLM type of business so more or less, your assumptions are correct. As for the recruitment part, most of the time, you ought to start recruiting with your family and friends. But when you already invited all the people that you know, you can now start inviting other people through online or in person.

      Being in this kind of business really takes time in terms of educating other people about the products that they offer. So you should have long patience because results doesn’t happen overnight.

  3. This Freedom Equity Group sounds just like the typical MLM program with a lot of focus on recruiting, are they just another pyramid scheme or is there a difference? I like how you mentioned all those different ranks and levels you need to climb up in order to earn those big commissions, definitely not my cup of tea.

    I’ve been reading about your recommendation, doesn’t that rely on recruiting as well? I mean what you’re doing is being an affiliate to certain programs and when others join you earn commissions. Isn’t that similar to MLM?

    1. Actually, Freedom Equity Group is not a scam. They still offer some legit ways to earn. However, just what you have said some of your commissions come from the recruitment part. 

      As for my recommendation, Wealthy Affiliate also offers several ways of earning. Basically, it teaches you on how to build your own online business and put affiliate links that can earn you some commissions.

  4. Thanks for this review about Freedom Equity Group. I have joined various MLM companies before and I wanted to learn more about this platform.

    I don’t have that much experience in network marketing but I am eager to find an alternative source of income. Can you help me understand this type of business?

    1. Sure no worries. Basically, MLM companies offer various ways of earning. As for the Freedom Equity Group, you can earn by selling the products as well as recruiting other people to join in the company. If you don’t have prior experience about network marketing, I suggest that you take some time in learning the compensation plan before investing.

  5. I have been scammed by many multi level marketing programs, mostly the ones that promote insurance products.

    They make you believe that you are going to make big money in short while and with very little effort when all they want is your money.

    I saw this is another insurance marketing program, and I won’t join it at all costs! Thanks lots for making aware of this.

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