Wealth Masters International is a direct sales business venture that signs up members and consultants to sell their exclusive financial products such as wealth coaching seminars with world renowned experts. It was started by two men, Kip Herriage and Karl Bessey. Herriage is a former broker with 15 years of experience with a top Wall Street investment firm and Bessey is a former coal miner from Utah who switched careers to become one of the leading salesmen in the direct sales industry.

The stated company vision was to create an educational system and a business model, which makes wealth accessible to anyone willing to invest in themselves and apply the wealth management principles of WMI. These principles are not revealed on the company website, only presumably after the potential member is willing to make a direct purchase of the products.

WMI does offer what appears to be a unique, holistic approach to riches, health and wisdom. Both Herriage and Bessey have assembled what they claim to be the best minds in the world in every area of finance, fitness, nutrition and personal development. The names of these experts are never revealed on the company website, only to be revealed after an initial investment in the products of WMI.

What exactly are the products offered by Wealth Masters International? There are 3 levels or tiers of seminars, coaching, meeting with experts and one on one access. M1 members, who represent the first tier, are initially given access to the Academy which gives seminars on better financial health through restoration of poor credit ratings, reducing personal debt, tax shelters and asset acquisition.

The m1 program is actually the cornerstone of Wealth Masters International and it offers a multi CD foundation education course with wealth management experts from around the world. The next level is m2 Wealth Management Conference that promises its members access to the most successful personal and financial development experts in the world. WMI does not say who these world renowned experts are nor show any videos of speakers at past conferences on its website. The final step in the multi product offerings of WMI is the m3 Private Wealth Group that promises members a life of luxury, happiness and fulfillment. So what does an entry into this elite group actually cost?

Thankfully, an online watchdog organization called Citizencorps has gathered data on Wealth Masters International. In recent years, the organization has downgraded WMI to two stars out of five for its excessive start up fees. The m1 course costs $1995 plus an initiation cost of $99. For the m2 conference, it will set you back $8995. The aptly named Lifestyle Experience is only $12,995. WMI now charges for entry to their corporate websites and the compensation plan has be reshuffled to take way more earnings from newer members and into the hands of established sponsors.

Wealth Masters International has a compensation plan that is a hybrid of direct sales and multi level marketing (MLM). In a direct sales business, the individual seller keeps 100% of the profits. In a MLM enterprise, the consultant making the sale and his or her sponsor shares the profit from each sale. At the m1 level, for every $1400 made, $1000 goes to the consultant and $400 for the sponsor. For the m2 Wealth conference, for the first ten sales, if the profits are $6000, the split is half for the consultant and half for the sponsor. At the m3 Lifestyle Experience, a $9000 profit will be divided into $5000 for the consultant and $4000 for his sponsor. After the first ten sales, the profit sharing becomes $7500 for the consultant and $1500 to the sponsor. These start up costs thereby rank Wealth Masters International as having the highest costs of any legitimate direct sales businesses.

This two level compensation method is the main flaw of WMI. It calls itself a direct sales enterprise, but the compensation plan forces members to be constantly recruiting new people should the second level income disappear.

Secondly the product line has limited appeal since it is only available in the US and also because it is aimed at individuals with enough disposable income to buy its products but who already have financial advisers and asset management consultants, making it redundant.

Wealth Masters International is a slick, marketing savvy enterprise that does offer a legitimate service of finance education and advice. The company does run an aggressive and sometimes covert promotional campaign on the Internet through posting on forums for disgruntled ex-members, through supposedly independent bloggers and by posting promotional videos on YouTube. Anyone who is considering investing with this company should do the research about it and its tactics before paying tens of thousands of dollars for something which can be had for much cheaper by simply calling your local financial consultant.

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