History
World Marketing Alliance (WMA) introduced the Business Format System (BFS) in 1992, a blueprint to help its associates build and run their business. MD TV, the company's private satellite television network, was also introduced. During this period, the company expanded its operations to Canada, Taiwan, Mexico, Puerto Rico, Guam and the Philippines. The company held its first convention in Las Vegas in 1992. It was attended by about 2,000 associates.
World Financial Group agents are compensated for selling products. Agents use “five fundamentals of personal finance” to build financial plans. These fundamentals are cash management, debt analysis, creation of a three-to-six month emergency fund, insurance, and asset accumulation and preservation.
On March 23, 1998, WMA Executive World Headquarters opened in Duluth, Georgia. The 100,000-square-foot (9,300 m2) building housed 500+ employees.
In November 1998, WMA was fined $100,000 "for not properly supervising its sales agents" after their clients lost nearly $2 million in unregistered investments. In 2000, WMA was fined $125,000 "for failing to report near.
In June 2001, select assets of WMA were purchased by AEGON and renamed World Financial Group, Inc.. Alexander Wynaendts, chief executive of AEGON, was quoted as saying, "When we took the company over, we put in place very strict regulatory and compliance procedures".
World Financial Group has over 3,500 offices in the United States. The World Financial Group Canadian division is located in Vaughn, Ontario. In 2008, World Financial Group had over 80 Canadian offices and over 1,500 agents.
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