Hubert Humphrey (MLM)

For the United States vice president, see Hubert Humphrey. For other uses, see Hubert Humphrey (disambiguation).

Hubert Humphrey aka Steeley Hubert Humphrey, Jr. (born 1942, Macon, Georgia[1]) is the founder of several financial services corporations in the United States. Humphrey used to market motivational business material from his online store.[2] Humphrey is the founder of World Marketing Alliance, now known as World Financial Group (WFG), World Leadership Group (WLG), and Hegemon Group International (HGI). Humphrey's FINRA registration expired at the end of February, 2012.[3]

A.L. Williams / Primerica

Humphrey was one of the original members in the A. L. Williams organization, which became well known in later years for its controversial insurance philosophy "Buy term and invest the difference" and multi-level marketing (MLM) organization structure. Humphrey worked for over 20 years on the railroad, and was at one point an Amway (not to be confused with Amtrak) distributor. Humphrey later joining A.L. Williams, and began to apply MLM techniques to his A.L. Williams sales organization, initially without the knowledge or consent of A.L. Williams founder Arthur L. Williams, Jr.. His methods became the foundation of the organization, and the growth of A.L. Williams to a sales force of 250,000 registered life agents when sold, and 44,000 registered stock brokers was attributed to Humphrey's use of leadership training and recruiting in the company.

In 1990, A.L. Williams, a private company, was merged with Primerica and renamed Primerica Financial Services. In 1991, after the acquisition, Humphrey left the company.

World Marketing Alliance (World Financial Group)

In 1991, Humphrey then created Alexander, Inc., which was renamed World Marketing Alliance, Inc. (WMA). The new company was also in insurance and investments, however the product was different. The company concentrated on marketing variable universal life insurance (VUL) and became one of the largest, independent broker/dealers in the country. Humphrey eventually sold select assets of World Marketing Alliance to Aegon in 2001, which is now known as World Financial Group and Transamerica Financial Advisors.

World Leadership Group

Humphrey retained WMA Mortgage Services, Inc., from his sale of WMA, which became the foundation for World Leadership Group WLG. He also retained the original WMA logo, which was used for the new company.

World Leadership Group was focused on mortgages and real estate. Companies under the WLG umbrella included Global Equity Lending (formerly World Lending Group) and Global Realty Marketing (formerly World Realty Group). His plan was to apply the same business model from his predecessor companies to the mortgage and real estate businesses. The flagship mortgage product that was sold was the "Option ARM" - a type of adjustable-rate mortgage. World Leadership Group and associated companies ceased business operations in December 2008 citing current market conditions in the mortgage and real estate industries.

Hegemon Group International

Hegemon Group International ("HGI") officially launched on January 3, 2012. Again Humphrey reused WMA logo for the new venture. HGI is the umbrella for Hegemon Financial Group ("HFG") and The Pella Group ("TPG"). HFG sells licensed products via Hegemon Financial Group. TPG also offered non-licensed products in Land Banking, Mortgage Leads, Technology, 2nd Market Annuities, Merchant Services, P&C Referrals, and Debt Management.

After selling WMA to Aegon in 2001, Humphrey was subject to a non-compete in the insurance business, which expired in 2013 allowing him to return to the field with HGI.

Personal life

Humphrey is married, and he has four children

In 2005, Hubert Humphrey began construction of a $45 million 82-room mansion on 72 acres in rural Cumming, GA. After the United States housing bubble burst, the property was listed for sale in 2008. The property was later foreclosed and was sold for $11.5 million in 2011.[4][5][6]

References

  1. ↑ Feldman, Amy (May 2000 (Vol 29 Issue 5)). "Hubert the Great". Money Magazine. http://www.amyfeldman.com/articles/00may_money_hubertthegreat.html. Accessed on January 24, 2006.
  2. ↑ http://www.huberthumphrey.com (defunct as of September 25, 2012)
  3. ↑ http://brokercheck.finra.org/Individual/IndividualSummary.aspx?SearchGroup=Individual&FirmKey=-1&BrokerKey=857054 Accessed on September 25, 2012
  4. ↑ Hicks, Nelson (5 October 2011). "$50 million foreclosed estate sells for $11.5 million". Atlanta Journal Constitution. Retrieved 17 June 2014.
  5. ↑ http://www.zillow.com/homedetails/2015-Trammel-Rd-Cumming-GA-30041/62671600_zpid/ Accessed on September 25, 2012
  6. ↑ http://www.bellenews.com/2011/10/12/world/us-news/45-million-forsyth-county-estate-le-reve-sold-for-11-5-million-after-foreclosure/ Accessed on September 25, 2012

External links

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