Wealth masters International is a Top Tier MLM company that has created some huge waves in the industry, paid out hundreds of millions of dollars in commissions and has been on the leading edge of what I would characterize as being one of the most successful companies in the Top Tier MLM industry.
However Wealth Masters has also been at the center of some big controversy and has made some major changes in its business model over the last 2 years so I wanted to take this opportunity to do an in depth company review on the company and see where they are today, and what prospects they have moving into the future.
I first ran across Wealth Masters International in late 2009 right after I had begun to immerse myself into the world of internet marketing and began to study and implement various online marketing strategies.
Now of course for anyone who has made the move into the world of online marketing they realize pretty quickly that it can initially be a somewhat confusing business model.
Well maybe confusing is not really the right word, actually it’s more like being transported into the same type of alternate realities we usually see featured on science fiction movies.
You know, the ones in which you go to sleep and then wake up only to realize that something is different, but then soon you realize as you do more investigation and go farther down the rabbit hole, that it’s an entirely different world that has always existed but somehow you never saw.
That’s kind of how it happened with me.
I had joined an online marketing and educational system called My Lead System Pro in mid 2009 and began studying online marketing strategies and was trying to get my arms around the very different marketing concepts of “Attraction Marketing”, “Funded Proposals”, and “Affiliate” income streams.
In an effort to understand and compare online marketing sales approaches I began looking at what successful people were already doing online by studying the lead capture pages I saw whenever I did online searches. That’s when I started running into a company called “Carbon Copy Pro”.
Now at first glance as Carbon Copy Pro seemed like just a slightly different version of an online marketing and educational system very much like My Lead System Pro, but there was something different about it.
There seemed to be a lot of secrecy about what they were actually selling, but apparently there were a lot of people selling whatever they had and making a lot of money doing it.
Humm…… a money flood, well that got my curiosity going!
So I investigated further and found that even through Carbon Copy Pro was in fact an online marketing system very similar to My Lead System Pro, that there were some critical differences.
My Lead System Pro was a completely generic system that you could use to promote any network marketing company and although Carbon Copy Pro claimed to be a completely generic system also, in reality almost everybody using Carbon Copy Pro was in fact marketing just one company called Wealth Masters International, and there were quite a few making over a million dollars a year marketing this company with some having reached those income levels in less than 2 years.
In fact from the video testimonials I saw, there were also apparently quite a few who had generated $10,000 to $20,000 a month marketing Wealth Masters in their first month in the business?
Now at this point they had my attention, but at the same time I had a hard time believing it.
Look I have been in the MLM industry for over 24 years and have in fact made 7 figures a year and I know what the standard MLM business model can do and what it can’t do, and generating a 5 figure income in your fist 30 days is usually something only the very rare individual can do.
Heck I could never do it!
I mean even if you are a killer recruiter, It takes time in a standard MLM like NuSkin (NuSkin Review) or MonaVie (MonaVie Review), to get the critical duplication going that going to give you access to the several thousand people you need in your downline to give you those $10,000 monthly checks we all dream of.
So how the heck were these people doing it?
Now as I dug further down that rabbit hole it got even stranger.
You know how you can buy a car, let say a nice black Audi A8 and you are feeling really special because no one else has one and then while you are driving home, you start seeing identical Black Audi A8’s everywhere. They were always there of course but you just weren’t tuned into them so you never noticed them.
That’s what happed with Wealth Masters, now that the rabbit was out of the hat, I started seeing them everywhere. Two of the owners of My Lead System Pro Brian Fanale and Norbert Orlewicz had previously made fortunes with Wealth Masters, Mike Dillard of Magnetic Sponsoring fame, ditto. In fact it seemed that most of the big names in the world of online marketing were also marketing Wealth Masters.
Darn, now I was starting to get mad……
It was like someone gave a money party and forgot to invite me!
Wealth Masters International it turned out was a Top Tier MLM that had been around since 2005.
Now I know a lot about the network marketing industry and the companies that flow in and out of it sometimes on a daily basis, so how was it that a major deal like this had escaped my attention?
Well to put it in sci-fi terms again ( I love that stuff) it’s like that alternate reality or more exactly it was like a parallel universe, existing right beside our own but somehow invisible.
Now there are some very new Hybrid Top Tier business models that have been launched recently like Empower Network, however most Top Tier MLM’s like Wealth Masters, or Family IQ (See Family IQ Review ), are not exactly a new business model in the MLM universe. I mean it’s been around for quite a while but it’s a different enough business model that it usually does not move in the same social circles as Standard MLM’s.
People that are successful in Top Tier MLM deals tend to stay in that industry and since there are not as many Top Tier MLM companies, distributors that are in the standard MLM market don’t tend to run into them, and if they do and they like what they see, they never seem to return.
So let me give you the hard facts on this Top Tier Network Marketing company.
Wealth Masters International
Wealth Masters is the brainchild of two partners Karl Bessey and Kip Herriage who formed the company in 2005.
Wealth Masters products all revolve around financial education.
There are three core products in the Wealth Masters International line, the M1 Program which sells for $1995, the M2 which costs $8995, and the M3 which goes for $13,995.
The M1 is pretty much the financial education the average person never receives in their life. It is a physical program that is actually mailed out to the distributor and is in Audio CD, DVD, Workbook, and includes an online training component through the company website.
The course covers subjects such as Developing a Millionaire Mindset, Understanding Money & Banking, Creating Your Blueprint For Success, The Fundamentals Of Wealth Acceleration, Breaking Down The Barriers To Success, Money Management, The BIG Investment Lie and Advanced Wealth Building Strategies.
The M2 Product is the next step in the educational process and is a 4 day seminar conducted twice a year called The M2 Wealth Conference and goes in depth on some of the subjects covered in the M1 program and also includes material on gaining access to precious metals opportunities, access to private real estate investment forclosure strategies, asset protection strategies, and more.
The M3 product is referred to as “The Private Wealth Group” and is a 5 day seminar conducted once a year at an international location. It covers many subjects such as Private Banking strategies, Insurance strategies, access to oil and gas exploration opportunities, IPO’s, a 1 year subscription to Kip Herriage’s private investment newsletter, and more.
Wealth Masters International Compensation Plan
The Wealth Masters International compensation plan includes a substantial front end commission paid directly to the selling consultant when a new rep enrolls and buys one of the Wealth Masters training products, a 5 tier MLM type back end residual compensation program that kicks in as you grow your group, and also a global profit sharing bonus pool.
Now since you must buy the products in order, they do offer discounts if you buy them at the same time rather than one at a time, so the actual entry levels when a new rep joins are usually at M1 level for $1995, Platinum level (M1+M2) for $9,995, or Platinum Plus level (M1+M2+M3) for $19,995.
So this of course is why they call companies like Wealth Masters International, “Top Tier MLM’s”.
The entry level is much higher than a Standard MLM but that’s part of the magic, since when you enroll someone at one of those levels you actually make almost a 50% commission!
The M1 actually pays a commission of $1000, the Platinum pays $4500, and when you enroll someone at the Platinum Plus level you earn $9000.
Ah-ha you say, now you see how new reps have the potential to generate $10,000++ in the first month or two.
Now even through a new rep or a “consultant”, as Wealth Masters calls them, has the ability to come in at any level and then bring in other reps at any other level, they are limited to receiving commissions based on the level they are at.
That means if a Wealth Masters consultant enters the business at M1 level, they are qualified to earn M1 level commissions which are $1000. However if they enroll a new consultant at the Platinum Plus level, they would have made $9000 if they were at that level but since they are at the M1 level, they will earn $1000 and the other $8000 will roll upline to the next qualified M3.
Good grief Charlie Brown!
Kind of brings a whole new dimension to the concept of “Rollup” doesn’t it?
Since this painful rollup can occur, new Wealth Masters consultants generally enter the business at the highest level they can afford, but also basing their decision on how much they want to earn per month.
Obviously if you are at the M1 level and want to make $10,000 your first month you are going to have to enroll 10 new consultants, but if you are at the M2 level you could achieve that by enrolling as few as two and if you were at the M3 level even one new consultant in your Wealth Masters business could get you almost to you goal of $10,000.
Now there are of course other elements to the Wealth Masters compensation plan, such as a 5 tier payout that can pay as much as $750 to the upline consultant as new consultants enter the business, and also the global profit sharing bonus pool.
Now of course with a Top Tier MLM business model because the numbers you are dealing with are much larger, for consultants who build a good size group the profit potential can be massive.
Now the average network marketing rep tends to look at big ticket programs like Wealth Masters and wonder how, if they have trouble enrolling people into their Standard MLM deal at $300 dollars, how in the world could you ever find someone who would be interested at $10,000 or $20,000?
I think the answer to this is in taking a look at how people who are looking at network marketing opportunities tend to look at the money they pay to enroll into a MLM program.
I think in today’s market Network Marketing is no longer a mystery, pretty much everyone knows that that there is money to be made in MLM, but they also know that it can be pretty difficult to achieve success, it can take quite a long time to build a big group, and that the number of people who actually get to the higher income levels of $10,000 or more are few and far between, and of course there are no guarantees.
In this case I think the prospect tends to look at the money they pay as an expense rather than an investment since there is no guarantee that it’s ever coming back and even if it does they know it’s going to take time.
Now of course people tend to watch what they spend so this is why enrolling someone into a network marketing business can be difficult even if the entry level is only a few hundred dollars.
Now on the other hand, if someone looks at a Top Tier MLM business like Wealth Masters that is going to cost them let’s say $10,000, but based on the compensation plan they can easily see a way to recoup their money by enrolling as few as 2 or 3 new reps, then they see an achievable goal that could be executed within a reasonable period of time.
I feel that in this case they tend to look at the money as an investment rather than an expense, and people can always find money for a really good investment.
Actually in the real world to start any business takes money and generally a lot of it. So to someone who would happily pay $50,000 or even $100,000 for a business that had the potential to earn them $300,000++ per year, a Top Tier MLM like Wealth Masters is a pretty good deal.
Also if you want a step by step business model that’s plug and play outside of the MLM business world, pretty much the most affordable national franchise you can buy today will cost about $35,000 for the license fee, not to mention build out and reserve cash requirements, and that’s for the right to spend the rest of our life working with teenagers in a fast food environment.
Now it may seem like the target market for an MLM business like Wealth Masters would have a pretty specialized target market, but in reality it’s no different than marketing a traditional MLM.
In today’s target rich environment there are no lack of prospects for the MLM world that the economy has dumped on their ears, i.e. business owners looking for a new plan A, corporate execs that have been dropped out of the economic food chain, Real Estate agents, mortgage brokers, and the list goes on and on.
Many times these prospects look at network marketing as an option but sometimes have a problem getting their arms around a business model where there seems to be no real clear business plan to get them to their financial needs.
Many need a real solution that can get them to $10,000 or more a month by next month not one that’s going to take the 18 months or 2 years that it can take in a Standard MLM.
Now even though there are many Wealth Masters consultants who use Old School MLM building strategies (See MLM Online vs Old School MLM) to build their business I would have to say that the really huge incomes of $50,000 to $100,000++ a month are generally being earned by consultants using online marketing approaches to tap into a much larger prospect pool and then use technology and automation to leverage their businesses.
This is the reason that so many of the top earning consultants in Wealth Masters were using online lead systems like My Lead System Pro and Carbon Copy Pro.
That landscape changed in November of 2010 when Carbon Copy Pro who had apparently been eyeing the huge success that Wealth Masters was generating with its top tier MLM product, seemingly decided that they wanted into that part of the business as well, and developed its own Top Tier MLM product.
Now even through Carbon Copy Pro and Wealth Masters International had no formal business partnership they nevertheless were pretty much in bed with each other and so their development of a competing product set off some huge shock waves in this marriage of convenience.
Needless to say Wealth Masters was slightly ticked off and ended up drawing the line in the sand telling Wealthmasters Consultants who were using the Carbon Copy Pro funnel system that they could not market a competing product and of course that ticked off Carbon Copy Pro and suddenly there was a huge split between the two companies that kind of left the members in the lurch.
Wealth Masters promptly setup its own in house online marketing system and Carbon Copy Pro went off to try to achieve fame and fortune marketing its own product.
Now some consultants were kind of stuck in limbo for a while but actually after it sorted out very little changed.
The bottom line here is that Carbon Copy Pro was simply a generic marketing, sales, and training funnel and although it was a very good one, there are many others in the market such as My Lead System Pro that are just as good if not better.
Since in the world of online lead generation the marketing approaches are typically generic and never brand or mention the MLM company, for the consultants who simply switched to another system it was pretty seamless and prospects never felt even a tremor.
In the corporate world companies often try to incorporate the functions of outside vendors to increase profit, this happens in the world of vertical marketing all the time, however it does not always work out as well as they anticipate.
You see most companies are pretty specialized at what they do and if they have been doing it for a while they are generally pretty good at it. To assume that you can replace the functions of a key vendor and immediately gain the same level of expertise in doing what they did as a business is sometimes naïve.
Carbon Copy Pro is a very good marketing system, but they have no experience being a top tier MLM company, conversely Wealth Masters International is a great Top Tier MLM but they have no experience in the world of online marketing.
Over time they will probably both gain the skills necessary to make their new ventures successful but in the mean time it’s probably best for Wealth Masters consultants to work with a proven system such as My Lead System Pro.
So what does the future hold for Wealth Masters International?
Well they are a proven force in the Top Tier MLM marketplace and their financial message is very much tuned into where today’s turbulent financial market is.
Kip Herriage’s (Co-Owner of Wealth Masters International) financial market expertise and forecasting skills are legendary, and their profitable Get Paid Today (GPT) compensation plan all point to the reasoning that that they will continue to do well into the future.
One note here is that with a profitable front end compensation plan like Wealth Masters, many consultants get excited about making $10,000 or so a month by using traditional MLM low volume marketing approaches, and never take their game to the next level by incorporating high volume online marketing strategies.
Since the Wealth Masters International has a very broad target market and can be marketing to prospects in any country in the world ( Wealth Masters currently has consultants in over 130 countries) it seems to be matched perfectly to a developing broad international marketing focus and using online marketing.
Now regardless of what you are selling let’s face it, with approximately 1.8 billion people online today, the future of pretty much all marketing is online.
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