Symmetry Financial Group BBB is a well-known financial services company that primarily focuses on life insurance, mortgage protection, and financial planning. As with any financial company, customers and agents often turn to the Better Business Bureau (BBB) to evaluate the company’s reputation and business practices.
The BBB is a nonprofit organization that provides ratings and accreditation for businesses based on customer feedback, complaints, and their commitment to ethical practices. A BBB accreditation can play a significant role in how a business is perceived, especially in industries like insurance.
In this article, we will explore Symmetry Financial Group’s BBB profile, including its ratings, customer feedback, and what accreditation means for the company and its customers.
Overview of Symmetry Financial Group (SFG)
Symmetry Financial Group was founded to offer people financial security through life insurance products. With its headquarters in Swannanoa, North Carolina, the company operates with a team of independent agents who sell insurance policies, focusing on life insurance, mortgage protection, and financial planning. Their business model is primarily commission-based, meaning agents earn based on the policies they sell.
SFG has grown rapidly over the years, attracting a lot of attention in the financial sector. While many clients appreciate the services provided, the company’s structure has also raised some questions regarding its practices, particularly its recruitment process.
Symmetry Financial Group’s BBB Profile
Symmetry Financial Group’s BBB accreditation varies depending on the location of the office. For example, their main office in Swannanoa, North Carolina, has been BBB accredited since January 13, 2015, and holds an A rating, indicating that the business is trustworthy and operates in good faith.
However, not all SFG locations have earned the same recognition. Some locations, such as those in Scotch Plains, New Jersey, and Portland, Oregon, are not accredited by the BBB. This difference highlights how BBB accreditation can vary between branches or offices of a larger business. The decision to seek BBB accreditation is voluntary, and not all businesses choose to apply.
BBB Rating & Customer Reviews
The BBB rating reflects how well a business meets certain standards of trustworthiness, including handling customer complaints, transparency, and ethical business practices. An A rating means that the business has demonstrated a high level of integrity and accountability.
Symmetry Financial Group’s positive customer reviews often highlight the company’s strong training programs and the potential for high earnings for motivated agents. Many reviews praise the opportunity to work independently and the flexibility of setting their own schedules.
However, there are negative reviews as well, with some customers and agents expressing dissatisfaction with the company’s recruitment practices. Some individuals claim they were misled about the income potential or the nature of the job during the hiring process. Issues with miscommunication and unexpected fees have also been noted in complaints.
While there are some complaints filed with the BBB, the company has generally responded promptly to resolve issues, which can reflect a commitment to customer satisfaction and accountability.
BBB Accreditation & Its Importance
BBB accreditation is a voluntary process in which businesses agree to meet certain standards set by the organization. These standards typically involve honesty in advertising, transparency, and responding to customer complaints in a reasonable manner.
While accreditation does not guarantee the absence of problems, it does show that the business is willing to undergo a process to ensure they meet ethical and customer service standards. However, not all businesses choose to become accredited with the BBB, and some may still operate ethically without the accreditation.
For Symmetry Financial Group, the A rating for its main office in Swannanoa and other locations shows a generally positive reputation in terms of business practices. But, since some locations are not accredited, it’s essential for customers to research specific offices to understand their reputation better.
Controversies & Common Concerns
While Symmetry Financial Group has grown into a reputable name in the financial services industry, it has faced some controversies and common concerns from both customers and potential agents:
Pyramid Scheme Allegations:
Some critics argue that the company’s commission-based structure resembles multi-level marketing (MLM), which has led to some accusations of being a pyramid scheme. Symmetry Financial Group denies these allegations, but it’s important for anyone considering joining or working with the company to fully understand the business model.
Recruitment Practices:
There have been complaints about the recruitment process, where potential agents were led to believe that the job offered a steady salary or more lucrative commissions than actually available. The company’s reliance on a commission-based structure means that income can be unpredictable and heavily dependent on sales performance.
Insurance Sales Model:
Unlike traditional 9-to-5 jobs, SFG’s model relies on independent contractors. This means agents must build their own business, manage their clients, and generate leads. While this model can be highly rewarding for self-starters, it may not be ideal for everyone.
Final Thoughts: Is Symmetry Financial Group Legit?
Overall, Symmetry Financial Group is a legitimate business with a successful track record in providing life insurance products. Here are the pros and cons:
Pros:
- Well-established business with good BBB rating in some locations.
- Strong training programs and opportunities for high earnings.
- Flexibility and independence for agents who are self-motivated.
Cons:
- Mixed reviews on recruitment and job expectations, with some concerns about aggressive hiring tactics.
- Some locations are not BBB accredited, which may raise concerns for some customers.
- Commission-based structure can be risky for those without strong sales skills or networks.
Should you trust BBB ratings?
While the BBB accreditation is a useful tool for gauging a company’s reputation, it’s important to consider multiple sources of information before making a decision. BBB ratings reflect how businesses handle complaints and their commitment to ethical practices, but they don’t guarantee the overall quality of the company.
Conclusion
Symmetry Financial Group BBB offers opportunities for agents to build careers in financial services. With some positive BBB ratings and success stories, it can be a good choice for those seeking a flexible career path. However, it’s important to be aware of potential recruitment tactics and the commission-based nature of the business, which may not suit everyone. Always take the time to research the specific office or region you’re interested in and be sure to read real customer and agent reviews for a balanced view of what to expect.
FAQs
Is Symmetry Financial Group BBB accredited?
The main office in Swannanoa, NC is BBB accredited with an A rating, but some other locations are not accredited.
Why do some people think Symmetry Financial Group is an MLM?
The company uses a commission-based structure with agent recruitment, which resembles MLMs, but it primarily sells insurance.
What are the most common complaints about Symmetry Financial Group?
Complaints mostly relate to recruitment tactics, income expectations, and the commission-only pay structure.
Can you make a stable income with Symmetry Financial Group?
Income depends on sales performance, and agents must generate their own leads, so earnings are not guaranteed.
Does a BBB accreditation guarantee a company is trustworthy?
No, BBB accreditation is voluntary and reflects complaint resolution efforts, not necessarily overall business quality.
