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Wealth Masters International - Scam Or Legitimate Opportunity
A business review of Wealth Masters International. Is the company worth taking a look at, or just another fly by the night scam?
So what makes Wealth Masters International appealing to some online marketers and gives others such reservation? Here is a short business review of the fairly new company
Who’s Running the Company?
Kip Herriage founder and CEO of Wealth Masters International, a Texas based company, incorporated in 2005. The background of Kip is in finance with 15 years on Wall Street. Karl Bessey, Predident and Co-Founder of WMI has a very different background. He was an underground coal miner in Utah for 22 yrs before becoming involved in the MLM industry.
Kip and Karl founded WMI with the vision “to create success and wealth in others, one person at a time.
What Is The Cost To Join?
Wealth Masters International is broken down into three courses: m1, m2 and m3. The m1 course is sold for $1495, m2 for $8495, and m3 for $12,995. You are not required to purchase the m1, m2,or m3 products to become a Consultant with WMI. You have the option of choosing to pay $149 to become a yearly consultant for WMI. If you decide on this option, you will be passing up your first 3 sales and the sponsorship of those people to your sponsoring consultant. Following the third sale and member pass up, the “newbie” is now “qualified” and enters the WMI Compensation Plan as a “Consultant”. The $149 fee is a small price to pay comparatively to the $20,000 price tag, but you are required to pass up your first 3 sales along with sponsorship. From there the business model is similar to that of an MLM company. If you are not qualified to receive certain percentages of your sales yet, then they are passed up to your sponsor.
Wealth Masters International recommends joining with their “platinum plus program” which consists of all three courses and is priced at $20,750.
What If Anything Makes This Company Stand Out From The Rest?
WMI is a new company without the long term backing of other companies. We are yet to see if they will even be around in 5 yrs or end up as the next online scam. A few of their products available are repairing you credit, education of the family, incorporating your business, etc. One major draw back is that the products are distributed by mail rather than completely online. Internet automation just cuts down on a lot of paperwork hassle. At this point the company consists of a lot of Big MLMer’s who have switched over to test the direct sales water.
So in the end what really stands out about this company is a couple of things. You DO NOT get to keep 100% of the commissions. You will be CONTINUALLY passing up money to your upline over and over again. But the truly shocking thing is the price tag to sign up. If you are going to spend $20,000 on a program, you better make sure that the returns are immediate, and that you have all the support in the world from your sponsor.