MWR Financial has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Domixon.com. We’ve received over 3 complaints against MWR Financial.
MWR Financial is not subject to regulatory scrutiny, which suggests that company may engage in fraudulent activities. Without proper license, organizations like MWR Financial can dissolve without a trace, leaving clients with no recourse. Ensuring a company’s license is critical since it enables for official action if problems emerge. MWR Financial’s structure raises issues, as it resembles a pyramid scheme rather than a legitimate firm, with the majority of earnings coming from recruiting rather than sales. This system, along with excessive costs and poor customer service, emphasizes the hazards associated with dealing with unregistered organizations.
Get Your Money Back From These Scammers!
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Key Takeaways
Is MWR Financial Regulated? Do They Have a License?
MWR Financial started out in 2013 as My Warranty Rewards, which was started by Jay Tuerk and Yoni Ashurov. In 2015, the company went through a big change when it changed its name to MWR Life.
This reboot wasn’t just a name change; it also added more services, like phone-based services on top of the insurance plan that was already there.
People have been talking about another reboot for MWR Financial, but Yoni Ashurov is still President and CEO of MWR Life. After 2015, there was a big change in the way it did business. It started focusing more on cheap travel services.
In 2021, a major event happened when a top MWR Life distributor was arrested in Andorra and charged with running a pyramid scam. This event brought up possible worries about how the company does business.
MWR Financial is currently run by CEO Brian House, who used to work for Youngevity. Bill Andreoli, who came from working at Richard Smith’s TranzactCard, was recently named President.
The lack of regulation or the presence of poor regulation is a huge red flag. It means MWR Financial is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of MWR Financial, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Concerning Issues Present at MWR Financial
MWR Financial offers a monthly subscription for $149.97, which includes access to a number of financial services:
- Debt eradication
- Tax decrease.
- Bill Planning
- Credit Restoration and Enhancement
- Strategies for saving, expanding, and safeguarding your money and assets
MWR Financial offers sixteen affiliate ranks, each with unique qualification criteria ranging from signing up and referring consumers to completing large-scale customer acquisition in one’s downline.
Affiliates receive $50 for each new retail client or recruited affiliate. These are determined by the affiliate’s position, with higher levels earning much more, up to $15,000 per day at the National Ambassador level.
Bonuses
These are given for obtaining new ranks within a certain timeframe, encouraging rapid growth and performance.
A weekly bonus beginning with the 2 Star Executive Director rank. This is a coded recruitment bonus that increases with rank, with the possibility to reward higher-ranked affiliates with downline overrides.
Even though the company has been restructured and its business plan has changed, there are still worries that MWR Financial might work like a pyramid scheme, since most of the pay comes from recruiting new employees rather than making sales. These worries are made worse by the fact that there is no requirement for store customers who are different from recruited affiliates.
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
MWR Financial Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
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MWR Financial Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like MWR Financial tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust MWR Financial reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of MWR Financial, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like MWR Financial enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “MWR Financial reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising MWR Financial.
You should always look out for consumer complaints. In the case of MWR Financial, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about MWR Financial? You can share your complaint in the comment section or submit an anonymous tip.
Is MWR Financial Legit Or a Scam?
The marketing claims that MWR Financial makes, like saying that members will get more money back than they put in, could get them in trouble with the FTC or other government agencies if these claims turn out to be false.
Before choosing to become affiliates, people who are interested should try out the Financial Edge service as regular customers for a while. This can help you figure out if the service is really helpful and can be kept up without the hiring part.
The fact that MWR Financial has changed a lot since it started out as My Warranty Rewards shows how its business plan and approach to the market have changed. However, people should be careful and do a lot of research before joining the associate program because of the possible legal and moral problems that could arise.
MWR Financial is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind MWR Financial can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust MWR Financial?
All the evidence suggests that MWR Financial is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
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How The MWR Financial Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
