PRI - stevehemingway/trading GitHub Wiki

theworks(ponzi,edwin-dorsey,{Primerica’s highest producing agents are engaged in misleading, false, or deceptive conduct },Primerica Inc,insurance,{https://open.substack.com/pub/thebearcave/p/problems-at-primerica-pri?r=nmbt&utm_campaign=post&utm_medium=email})

Primerica (NYSE: PRI — $7.34 billion) describes itself as “a leading provider of financial products and services to middle-income households in the United States and Canada.” The company has over 141,000 “life insurance-licensed sales representatives” who have written 5.7 million life insurance policies and advise “approximately 2.9 million client investment accounts.” Investors believe Primerica’s unique agency recruitment model enables the company to provide much-needed financial advice to low and middle-income households and the company explicitly states it “is not a pyramid scheme.” The Bear Cave sees things differently.

The Bear Cave has reviewed extensive evidence suggesting that Primerica’s highest producing agents are engaged in misleading, false, or deceptive conduct including 1) a recorded Zoom presentation from a Senior National Sales Director that alleges crooked conduct, “fake numbers,” and appears to suggest an ongoing internal investigation, 2) a text message recruiting script for new agents that appears to deliberately obfuscate their association with Primerica, 3) agent presentations that emphasize recruiting over serving independent customers and 4) a presentation by a high-producing agent saying “it’s normal to be a millionaire.” In addition, complaints obtained through public records requests allege forged signatures on six-figure investment contracts, “institutionalized theft,” and one senior said the company “raped me financially.” In sum, The Bear Cave believes Primerica stands against the winds of progress and is a losing proposition that victimizes all those involved.