More than 80,000 agents have built fulfilling careers as independent business owners with World Financial Group (WFG). However, being a WFG agent isn’t for everyone — and that’s okay. Some individuals thrive in a commission-based sales environment that requires a strong drive and the patience to establish a client base. For others, it may not be the right fit.

In this article, we’ll walk you through how to exit WFG, while also highlighting a few important considerations to keep in mind before the transition.

1. Notify Your WFG Upline

If you do decide to leave WFG, you’ll want to inform the person directly above you in your hierarchy (typically referred to as your upline).  Keep your message clear and professional. You  are not required to provide reasons for leaving — you may simply let them know you’ve decided to move on. Being direct yet professional helps maintain a positive relationship. 
 

2. End Your Contract with WFG  

There are two simple and effective ways to formally end your contract with WFG:

1.    Via MyWFG.com
Log in to your account at myWFG and navigate to your profile page. There, you will find an online tool specifically designed to process contract terminations.

2.    Via Email
Send an email to WFGCoding@Transamerica.com clearly stating your intent to terminate your contract. Please ensure that the email is sent from one of the addresses listed in your MyWFG.com profile.

Once your termination request is processed, you will receive a confirmation. This message will include important details regarding your contract status, including commission vesting information if applicable.

⚠️ Important Note: In the United States, your insurance license(s) are not directly tied to your contract with WFG. Terminating your WFG contract does not immediately affect your license status. However, WFG will notify the insurance carriers with whom you are appointed. Once those carriers terminate your appointments, you will no longer be authorized to represent them.

In Canada, you must have an insurance carrier sponsor to maintain your license. When you terminate your WFG contract, WFG will notify its insurance carrier sponsor and the insurance regulator in your province or territory.  If you do not have an active insurance carrier sponsor, you will lose the ability to sell insurance products.
 

3. Settle Any Outstanding Commissions or Fees 

Before walking away completely, review your WFG portal for any pending commissions, chargebacks, outstanding fees, and your commissions advance balance. Some commissions may still be due to you after your contract termination.  Importantly, if a client cancels a policy, even if it’s after you leave, you may be required to pay back commissions that were advanced to you before they were fully earned (e.g., this can happen when an insurance company requires WFG to return commissions paid for policies that did not stay active for a minimum period). It’s wise to understand your financial standing. 
 

4. Consider How to Handle Your Errors & Omissions (E&O) Insurance  

As a WFG agent, you’re required to carry E&O insurance, which will assist you in addressing covered complaints related to your actions as an insurance agent.   There are a number of reasons you may want to extend or maintain E&O coverage even if you leave WFG.  For example, coverage is typically provided on a “claims-made basis”, meaning the E&O insurance needs to be active at the time someone makes a complaint about you.  It is possible someone may file a complaint after you’ve left WFG regarding actions you took as an insurance agent before you left WFG.  If your E&O policy is no longer active, you may not have access to insurance coverage for that complaint.  

Reach out to your E&O provider to understand your options and timing.  Don’t forget to check on how your E&O insurance premiums are paid and handle them appropriately.   
 

5. Communicate with Clients  

If you’ve built up a business, think carefully about how to communicate your departure to clients. It’s essential to be as communicative and direct as possible so clients are not left in the dark or unsure of who to contact if questions or needs arise.

Keep the message simple: let them know you’re no longer with WFG, and point them to the appropriate person who can help them after you leave.

⚠️ Important Note: Your WFG contract outlines restrictions on asking or encouraging clients or other agents to follow you as well as taking and/or using confidential WFG information, including client files.  Make sure you understand your obligations that continue even after your contract terminates. 
 

Still on the Fence? Explore These Helpful Resources 

You might not be ready to walk away yet. Sometimes the frustration comes from a slow start in building a client base or from not fully understanding how the business model works. If you’re on the fence, take a step back and explore your options before making a final decision.

Here are a few resources that may help:

●    Talk to Your Upline: Before you resign, have an honest conversation with your upline. Ask about strategies for overcoming challenges or whether there are additional training opportunities you can access. 
●    Revisit WFG’s Training Resources: The MyWFG portal offers sales tools, webinars and compliance resources. Reviewing these might clarify whether your struggles are temporary or if a sales-based career truly isn’t for you. 
●    Reach Out to Other WFG Agents: It may be helpful to get an outside perspective from another WFG agent or team. You could request a virtual coffee chat to gain a different perspective and potentially pick up some valuable tips.

Ultimately, choosing to stop pursuing your own business with WFG is a deeply personal decision. Taking time to explore resources and seek outside perspectives ensures that you make the right choice for you.