Rich Dad Seminar Warning

Attending the “Rich Dad Education” seminars run by Tigrent? If you are a budding entrepreneur, chances are you may be considering attending them. You might even be really excited; after all, who gives you get-rich-quick education and for free to boot?

Well, there is bad news and the bad news is that “free” is only a word they use to lure you in. According to the Better Business Bureau (BBB), you need to be extremely cautious when signing up for the upcoming seminars. In fact, one of them has already been concluded. Called “Property Management & Cash Flow”, the seminar was conducted during May 20-22 which Tigrent’s Learning website called “an essential for every serious real estate investor who is building a portfolio to generate wealth and cash flow.” The seminar was held at Hilton St. Louis Airport, 10330 Natural Bridge Road, Woodson Terrace. The same location is going to serve as a site for a three-day marketing seminar which is scheduled for June 24-26 and as the company website puts it, the seminar will “break down the marketing blueprint to fast track your marketing message to increase your market share and increase your profits”.

So, what could possibly be wrong with a company’s seminars that help you grow as an entrepreneur? Why is the Better Business Bureau warning us to take caution? Because the company has been having some major issues lately, that’s why. Besides the “F” grades (which is the lowest grade any company is capable of achieving with the Better Business Bureau) Tigrent Inc. and its affiliate Rich Dad Education have, the BBB has received some 140 complaints against the companies, 28 of which have been unanswered. The “F” grades, by the way, have now changed into “No rating” as the BBB in St. Louis has learned that the company has responded recently to consumer complaints with the BBB in Florida.  However, the most important thing to consider with the BBB isn’t really the ratings – it’s the pattern of complaints…and so far the pattern of complaints against Tigrent tend to center around consumers claiming that Tigrent didn’t give them what they had promised and/or also misled them into signing contracts worth thousands of dollars.

Here’s what usually happens when you attend those seminars. First, you will be able to attend the seminar for a day for free. The “free” seminars typically last for one day. Once you get to the venue and attend the one day seminar, salespeople get to work using high pressure sales tactics on you urging you to pay for a three-day seminar. When you do pay for the three-day seminar, that is when the nightmare begins.

You will be highly encouraged to buy expensive products for thousands of dollars. Not only that, but the BBB has had a couple of complaints where consumers have claimed that company salespeople pressured them into joining the course work by telling them the price would go up if they did not sign up immediately.

The company has not responded to most complaints and money of several people has not been refunded. The company does provide a three-day grace period for a refund, but that too doesn’t seem to be without flaw as most customers claim that three days is not time enough to assess the value of the classes. The other problem is that you are required to submit your refund request in writing which adds additionally to the hassle-factor for such a limited 3 day refund period.

Now the question is, “What should we look out for when attending investment seminars or other programs designed to market wealth-building courses?” Here is what the BBB suggest you do:

  • Understand that “free” or low-cost business seminars are not what they sound. They are usually words used to lure the attendees into buying other products.
  • Don’t fall for high pressure sales tactics and offers that look too good to be true.
  • Make sure that when you make the decision to spend thousands of dollars on a course to help you amass wealth, it won’t be something you are going to regret later on.
  • Read any contract thoroughly before signing it. OR you can also take it home to investigate or get some legal advice and if the company denies you the permission to do your home-work, it is wiser to walk away.
  • You must get in writing within how much time you will be able to cancel your agreement and still get the full refund. If the company refuses your request or if the time is too short, it’s a red flag.

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Adwords Shenanigans Continue – Adwords Ad Promoting Fake News Site

On the heels of the recent FTC “Fake News” sweep announcement I was curious to see a new advertisement pop up promoting a fake news site allegedly promoting products such as Search And Social Media & Eprofits. You can see that in the video below:

You’ll notice that site promoting Search And Social Media doesn’t disclose that it’s a fake news site. You’ll also see the usual fake countdown timers. And you’ll notice that the McAfee security seal is actually for Plimus and not the SearchAndSocialGoldmine.com site referenced on the order page.

I’m not 100% sure how Plimus works, but it doesn’t appear that this product is being sold through Plimus at all.

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Freedom108.com review of sales process

When I recently saw a commercial for Freedom108.com I was surprised to see of some of the testimonials which seemed to potentially violate the FTC’s recent No Safe Harbor guidelines. Especially since the company behind the ads – Premier Team International does have an “A” rating with the BBB (I’ve explained many times before why BBB ratings in the “work at home/home business” field are practically worthless). Of course I’m not an attorney, so of course this is just a layman’s reading of the guidelines, but here’s how David Vladeck, the Directory of the FTC’s Bureau has explained these guidelines:of what the most recent guidelines says:

“…the use of a disclaimer such as “results not typical” is no longer a safe harbor for the claims made in testimonials. Third, while you may use atypical or best-case testimonials, if you do, you should clearly and conspicuously disclose the generally expected results consumers can expect in the depicted circumstances. Of course, the best practice, and the less risky practice, is to use testimonials that actually reflect what your product or services is likely to deliver. In other words, rather than run ads that give with one hand but take away with the other, it would be better for your ads to give a clear picture of the results a consumer will actually get.”

The following video takes a look at Freedom108′s sales process in light of that statement as well as a $39.95 charge which I found suprisingly hard to find:

Many of you may be surprised to find out about the $39.95 from Freedom108.com, especially when they have a section on part 2 of the order process that says:

Pay Nothing More

Pay Nothing More

And they have a section on part 3 of the order process (the page where you enter your credit card information) that says the following:

Pay Nothing More CC Info

Pay Nothing More CC Info

You’ll notice that none of them mention the $39.95 charge found on the terms and conditions page – even though they have PLENTY OF ROOM to disclose it on those pages.

And if you have no idea what $39.95 charge I’m talking about, it was covered in the above video…and here’s a screenshot showing the wording of that charge:

Terms & Conditions $39.95 Charge

Terms & Conditions $39.95 Charge

And if you watched the video you’ll see what a hard time I had even getting to the terms and conditions page.

There are some other minor issues I have with this sales process, but I felt those were serious enough to warrant calling them to your attention.

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