Financial Education Services review

Welcome to my review of the FES products and opportunity

Have you been searching on the internet trying to find the best Financial Education Services Review, because you’ve been asking the question, is FES good, or is it a scam?

I get that you’re probably just trying to get some detailed information to help you to decide for yourself whether FES is legitimate or not.

Well, I’m here to help.

Within this review that you’re reading right now, I have compiled all the information that you will need regarding this company.

Reading this review will definitely help you to make the best decision possible regarding the products and opportunity on offer from Financial Education Services.

So let’s get started. First, let’s look at the company itself for a minute.

What is Financial Education Services?

In this section, it is my aim to tell you everything you need to know about Financial Education Services (FES for short).

The company started out in 2004 under its initial name of VR Tech and operating as a Credit Repair business. The founders of Financial Education Services are Mike Toloff (who currently holds the title of President) and Parimal Naik (currently the CEO).

The Financial Education Services business office is listed as being located at:

37735 Enterprise Ct., Ste. 600
Farmington Hills, MI 48331-3426

I’m not sure if this is the exact address that the offices were when the business was originally founded, but the city itself has not changed since the inception of this company.

The FES business has grown and changed a lot during the time since its inception.  One very noticeable change is that it is no longer solely focused on the business of credit repair, but has moved into a few new areas of business.

The company has also survived a few problems, including at least 1 lawsuit.  We will look at those issues further into this article but for now, let us take a look at the products.  After that, we will look at the FES business model.

Financial Education Services Review - The Best Business you Can Do

Note, if you are here solely for the information I have on the Financial Education Services compensation plan or to find out if FES is a scam or not then you can bypass the product review if you choose to and go straight to where i deal with the business and compensation plan etc.

Financial Education Services Review - Go Straight To FES Compensation Plan

Click Here To Go To Compensation

Financial Education Services product review

Today, the company product offerings consist of the following FES products which are intended to enhance, support, and protect the lives of its customers and their loved ones:

FES Protection Plan Plus Product line

The Financial Services Protection Plan which is sometimes abbreviated to the FES protection plan promises that its subscribers will discover a new lifestyle filled with savings when they use the FES Protection Plan Plus products. The variety of offerings within this plan supposedly will allow you to pick and choose the products that will work best for your lifestyle.

Each component of the plan is sold separately, but they actually complement each other. So you can purchase one or all of the available programs to suit your lifestyle.

Below is our FES Protection Plan review which will walk you through each of the products within the plan. Even listing for you those products which are still not officially ready for member subscription. Hopefully, these will be coming onstream soon.

FES Cellular

Secure a new level of freedom in how you manage your cell phone services with FES Cellular, and stay connected with friends and family while enjoying bigger savings.

Get access to some of the best new and refurbished Samsung & iPhone mobile phones on the market, which are available to you as a subscriber to this program. All at great prices.

The features of the plan are:


FES Cellular is powered by Sprint

Unlimited $49/month/line

No contract or credit check

Get Androids, iPhones, or bring your own

Protection package available

Free-roaming in Mexico and Canada

Financial Education Services Review - FES Cellular

FES Travel

Save up to 60% or more on hotel accommodations in destinations around the world! FES Travel Members have access to special room rates not offered to the general public. Whether you’re traveling for business or pleasure, you’ll never have trouble finding a place to stay again!

They also make sure that you never have to worry about getting around again. With FES Travel you can always get around town.

Whether you need a vehicle temporarily or are looking for a ride to explore a new place, this plan has you covered with everything you need. From a simple economy car, all the way up to those luxury SUVs.

Going on vacation?  Do you need flights, cruises, and activities while on vacation?  Don’t worry FES Travel has your back too.

My HealthCare2Go

Talk to a doctor, get serious dental discounts, vision discounts, lab, and imaging benefits, or come talk to an expert in Healthcare Advocacy.

If you feel that’s not enough benefits for one plan, then FES My HealthCare2Go has more for you. There are hearing benefits that can save you 17 – 40% on things like brand name hearing aids.

There’s also Diabetic and home medical supplies and an Rx card with which you can save from 10% to 85% on name brand and generic prescriptions at over 65,000 select pharmacies.

FES Live Stream

The FES Live Stream product is listed as coming soon.

FES RoadSide

The FES RoadSide product I listed as coming soon.

FES Legal Services

The FES Legal Services product is also listed as coming soon.  Who knows, maybe they’re revamping this one because of the effects of the lawsuit which I will tell you about in a minute or two.

Financial Education Services Review - My Care Plan

FES MYCare Plan

MyCare Plan gives you the means to still be in charge of matters of your health, your finances, and your family’s benefits. Even when you can’t speak for yourself.

The decisions which you make for yourself and your family are important to you. With this plan, you are given the means to make them. Even when unexpected things happen.

This product is a comprehensive planning package, customized to your needs, and covering each of those essential parts that make up a proper estate plan. Includes your Last Will, Living Trust, Healthcare Power of Attorney and Financial Power of Attorney.

FES First Progress Platinum Mastercard

This is a full featured secured Platinum MasterCard® Credit Card which has a credit line that’s based on a security deposit that you post to the card instead of being dependent on a credit score,

To get started you post the required security deposit to establish your credit line and that deposit will then serve as collateral for your obligations on the credit card account.

The card will then enable you the user to accumulate new information in a credit file while reporting new account activity to all three of the major national credit card bureaus.  This will do wonders for a bad credit score, helping you to recover from issues with bad credit.

In my opinion, this card is a good FES credit repair product that can help you to improve your credit score.  Even if your credit wasn’t bad, to begin with.

FES Review - You can restore your score

FES Smart Credit Report

The FES Smart Credit report is touted by the company as being a credit report like no other and also a very revolutionary money manager.  The report is horizontal and easy to read.  You can search and find anything quickly and can utilize the tabs on the report to view more or less detail as you wish.  So there’s no need to feel overwhelmed by data.

Through the Smart Credit interface, you can see your credit score, auto score, your insurance score and even what I call a Hiring Index score.  That’s basically a risk index that you can use if you’re a job seeker looking for work.

FES Ultra Score

The Ultra Score program will guide you through some simple steps in order to maximize your credit potential.

The capabilities of the FES financial resource center are embedded within this product to help to answer the questions related to your unique financial situation.

Using this product puts you at the forefront of several years of combined with creating personalized solutions for clients who are unfortunately suffering from the effects of a bad credit score.

FES Credit My Rent

Credit My Rent allows you to use Rent Reporting to build your credit score by paying your rent on time.  With this service, you are a couple of steps ahead of the average renter and well on your way to better credit.

What Credit My Rent is going to do for you is verify your on time rent payments and report them to Transunion every month. This will help to build, improve and establish your credit. This is important because a good credit score is necessary for getting loans like auto or home loans etc.

The FES Business Model

FES contracts Independent agents to sell both their credit restoration service products and their various non-credit repair services and products.
To compensate these credit repair agents the company uses the MLM business model.  So, in essence, FES is a MLM company operating in the credit repair industry.

This business model is the basis for the Financial Education Services compensation plan.  A very basic explanation of how the compensation plan works is that the credit agent sells the company’s various products.  He or she will also be responsible for recruiting individuals who express an interest in becoming an FES credit repair agent themselves.

For each of the sales that they generate they are paid a commission.

Additionally, as with other MLM companies, the Independent agents are also paid downline commissions on the sales of the agents they recruit, and in turn commissions on the sales of the recruits that their recruits go on to invite to the business.

This all sounds confusing, doesn’t it?  I hope the image below will help you to understand the concept a little better.

The FES MLM pays its agents commissions on downline agents up to 6 levels deep.

Financial Education Services Review - 6 Levels of Compensation

As you can see from the above image an FES agent who has their entire MLM downline organization filled out could potentially be earning commissions from the efforts of 19,530 people in their downline organization.  As I said.  “If their downline is filled out”

Using that diagram alone you wouldn’t grasp the size of the full structure.  Now just look at the number of people at each level.  You see how it grows per level.  If you saw the entire downline structure it would look like a huge pyramid structure rivaling the pyramids of Egypt.  That is why some people have been saying that this business is a Financial Education Services pyramid and a scam as well.

That sentiment comes from the fact  that the FES business opportunity compensation diagram naturally looks like a pyramid and also because you earn money from the work done by those below you in the pyramid-like structure.

There are still other ways that agents get paid.  In total this MLM company provides 8 different ways for its agents to earn commissions.

See the listing below for a visual representation of the available income streams.

Financial Education Services Review - Pays 8 Ways

The FES R&R Club & the Medallion Club

These are 2 groups that members can qualify for and by so doing receive a reward for their hard work.  We won’t bother to spend more than a minute looking at the Medallion Club in this review because the rewards for qualifying are mediocre, to say the least.

Medallion club has 10 levels and the rewards for levels 1 through 9 range from a club membership card up to a custom engraved Burberry watch at level 9.

FES - How I make money online

Qualifying for level 10 grants you access to the FES Founders Day.  That’s one day that you get to spend with one or both of the FES founders.  For that day your travels, accommodations, dining, and activities will be covered by the company.  In the end, you get a custom framed photo to go hang on your wall somewhere.

The FES R&R Club – Now that’s something worth qualifying for.  This club has got 11 levels.  Level 1 to 10 and then an eleventh level that’s called the Pinnacle.  It’s probably named that way because it is almost impossible to reach.

As an R&R club member qualified for level 1 you are eligible for a reward of up to $600 to be used towards car payments for an Audi motor car.  The details are quite specific.  That money is to be used to help you get yourself an Audi.

At level 10 you can buy quite a few Audis if you want to because you will be receiving a $250,000 bonus payment for an entire year.  Of course, you have to remain qualified at that level or you lose all that.

Then there’s the Pinnacle.  At the Pinnacle level of the R&R Club that $250,000 bonus you were getting at level 10 now becomes a Lifetime bonus.  So you’re not restricted to a year anymore.  Now it’s a lifetime thing.  Unless you fail to remain at the qualification level of course.

I wonder how many people there are that are qualified for these things.  All the MLM companies seem to have these lofty levels where you can earn more money than you know what to do with.  The only problem is that the qualifications are set so high that it’s virtually impossible to reach.

Here’s one lady who says she made it.

Ok, what do you really think of the business and compensation plan now that we’ve taken a really quick look at it?  I know some people might think, that this is an opportunity worth going for.  Maybe you’re even now beginning to wonder just what the FES agent salary might be like.

FES agent salary

If you are entertaining these sorts of thoughts then you should stop right now and I’m truly sorry that I’m going to have to be the bearer of bad news.


FES Does not pay its agents a salary.  No, this is a business opportunity so there’s no FES salary like you would get in a regular job.  The agents have to work to basically pay themselves.

If they do not get sales or bring in new recruits, then they do not earn commissions.  Therefore they will not get paid.

So to be totally real here, the only FES agent salary is the commissions and bonuses that agents earn from the success derived from their own hard work.

For that fancy R&R club and all that; you have to have this huge pyramid organization working below you from who you are receiving commissions.  That is what will push you up allowing you to reach the heights you need for these things.

Even more interesting than that.  You, the Independent credit agent is the one who has to pay when you’re getting started.  You actually have to pay to become an agent.

Now that we’ve taken a quick look at the business and compensation model for this company.  What are your thoughts?  Are you thinking that it is really a pyramid scheme?  Or maybe you think that it’s a scam.  I would love to hear your views.  You can leave them in the comments section at the end of this post.

But before you do that, you should continue reading.  There’s some absolutely shocking stuff left for me to disclose.

How to become an FES agent?

Step 1 – Apply to the FES program

Step 2 – Pay an administrative fee of $199.  This is a one-time payment.  Then get your recurring Protection Plan membership.  This is going to cost you $87 and it will not be a one-time payment.  Instead, you are going to have to pay this subscription every month as long as you remain an FES agent.

Step 3 – This is where you now get to go out and start pestering people to buy plans or come join you as an agent so they can make money for you to get a cut out of.  The question is.  Who do you know, baby?

Financial Education Services Review - Getting Started

The Financial Education Services lawsuit

Yes, there was actually an FES Lawsuit.  The suit was filed in Georgia and settled on July 19, 2019, resulting in FES and it’s owners Michael Toloff and Pariman Naik having to pay a total of $1.75 Million dollars.

The claims made in the suit alleged that FES and its owners had violated the Georgia Fair Business Practices Act by operating an illegal credit repair business and using unlawful and deceptive practices in their MLM structure.

Here’s the story in detail from the Press Room of the Atlanta Attorney Generals office.

Financial Education Services Customer Complaints

Separate and apart from the lawsuit mentioned above there have also been some customer complaints that have been levied at this company from time to time.  If you check the website of the Better Business Bureau you can see some of these complaints.

Coming from both customers and disgruntled former FES credit repair agents.  A visit to the website revealed 164 such complaints in the year 2019.  Ranging from complaints from people who became FES customers because they had problems with their credit and wanted to find a way to fix those problems and going all the way to former agents who feel that they are being scammed out of money that they do not have in the first place.

The only positive thing that I can say about FES from what I see on that BBB complaints page is that their Customer Service people seem to have responded to all the complaints presented and there has been a resolution arrived at for a lot of the complaints listed there.

Of course, that does not make everything right because the customers should not have had to lodge a complaint with the BBB in the first place.

If you are looking for red flags to inform your decision to stay far away from the Financial Education Services credit repair business, well these complaints will definitely count as one of them.FES Complaints

Financial Education Services Better Business Bureau accreditation revoked

On the 19th of September 2019, the Board of Directors of the Better Business Bureau revoked its accreditation of the Financial Education Services.

The decision to take this action was made due to the failure of the FES Credit repair business to adhere to the BBB requirements that Accredited businesses meet and abide by the BBB standards.

This move seems to have been in direct response to the ruling in Atlanta, Georgia against FES and its owners.  You can read more about this here.

So, Is FES a scam?  Is it legit? Or is it a Pyramid Scheme?

In order to arrive at a sensible conclusion and find an answer to this question I think we should look objectively at all we have uncovered about Financial Education Services, about its business and compensation plan, its products and what customers are saying.

From these factors, we should be able to make a correct determination.  Let’s begin with any good things that we can find about FES.

Is there Good in FES?

Hmm, let’s see.

FES Pros

Long-standing business – The company has been around for a while and has weathered the storms so far.

Variety of products – Even though FES started out as just a credit repair company it has managed to evolve over the years and has become more.

Improves credit – Some of the products that FES is offering can help to improve bad credit.  Products like the First Progress Platinum Mastercard and the Credit My Rent offering are based on good ideas that can in theory help to improve credit.

Good money making potential – Let’s face it, most of us simply abhor MLM programs and use all sorts of names to describe them.  But the truth is in all of these programs there are people who make a killing.  These are the people who can sell practically anything and can build a team and motivate people to sell and recruit.  There are people like that in FES.

Website User Experience – The company’s website is friendly and easy to use for both customers and agents.  Agents can use their websites to sign up new agents and sell products right from the internet.  They can also access training videos, reports, marketing tools and much more right from their back-office online.

Money-Back Guarantee – FES offers its agents a money-back guarantee on both the enrollment costs and the monthly membership fees.FES Credit Repair Agent

FES Cons

Pay your way – As a recruit, you have to find money to pay for that administration fee and the initial FES Protection Plan membership.  Then each month after that you have to pay the monthly membership fee for the Protection Plan, just to stay in the game.  If you’re not making any money then this can be really taxing.

FES Complaints – There are quite a few complaints being made against FES.  Both from the customers and from the credit repair agents as well.

The lawsuit – The company was hit with a lawsuit that was settled in 2019.  The suit alleges that the company and its owners were operating an illegal credit repair business and were also using some unlawful and deceptive practices for their MLM structure.  That’s a big hit.  A huge red flag in my book.

MLM Business – Multi-Level Marketing is definitely not an easy business to achieve success in.  Most MLM independent business owners (or partners or agents, or whatever they are called in individual MLMs) end up failing miserably, but the sizzle at the recruitment meetings is so intense that lots of people just want to pull their wallets out and sign up.

Only to quit in frustration a few months or so down the line.

10 Day Guarantee – Although FES does offer a money-back guarantee, it is only valid for a paltry 10 days’ time.  This is way too short for someone to have fully made up their minds about an MLM program.

My Opinion

In my opinion, FES is a legal MLM company offering credit repair services and other services.  It is not a pyramid scheme because such schemes do not have products for sale.  People get paid in such schemes purely from the people who are recruited into the scam at levels below them.  So it is just recruitment.  No products.

That is not what FES is doing.  The company definitely has products on offer.  It’s not a scam either.  Again because there are products for which you exchange money.  Scams are also usually something that pops up, scams some people for a time, then when people wise up to it they disappear into the night.  They are not companies that have been around for over a decade.


Even though I don’t consider this company to be guilty of being a scam or a pyramid scheme.  That does not mean that it is a company that I would think of buying products from or one whose business opportunity I would even think of getting involved in.

The urge to find a way to make money can be strong I know.  Especially after hearing about people who are having great successes.  But there are other, less risky, less expensive ways to make money.  Especially online.

I have found one such method.  If you would like to hear about it click here and I will tell you.

If after reading my Financial Education Services Review you should still want to go ahead and get involved with FES, then  you definitely should be very careful.  Read the fine print, check out the compensation plan in depth, ask lots of questions, talk to a few customers and finally follow your gut feeling.

That’s your Intuition, and your intuition is usually correct.


FES Alternative Business Opportunity

Categories: Reviews


Donald · at 3:14

Yes Sami King it is absolutely recommended that you do your own research and due diligence before you join any program online that will require you to spend money. Even though i have taken the time and effort necessary to create this Financial Education Services review for you and provided all this information for you, it is still up to you to dig a little more before making any final decision.

faithmz · at 10:22

Wow! That was a really interesting read and very informative. I have never heard of FES so thank you for sharing it with us. I appreciate you walking us through all the plans FES offers and listing the pros and the cons of the program, I think that was very helpful for me. I didn’t see you mention this in your article and I’m curious, do you know how much is the average monthly salary for an FES agent?

    Michelle Cofer · at 12:32

    @ faithmz— there is no salary, as mention in this article, but I can assure you as a first time network marketer, it retired me from 16 years in social work at 11 months!!! The products are amazing & though most of what was shared here is true, it was not technically a lawsuit- it was a consent agreement that news headlines published as a suit! The company has integrity & heart ! I’m glad I said yes to FES.

      Donald · at 3:24

      That’s great Michelle and i’m happy to hear any kind of success stories coming from MLM programs such as FES. But the burning question is. How many people can say the same as you? What percentage of FES agents actually make enough money to live on.

    Donald · at 3:20

    Hah! That’s just it Faith. FES agents do not earn a monthly “Salary”. They are basically independent contractors, and there is no set amount of money that they make per month. The amount of money made each month varies from contractor to contractor with some making almost nothing.

Andrew · at 10:19

Thanks for this great in-depth review of FES. When I started this article I genuinely did not think that it would be about MLM. Starting this business really was a great idea, at least in terms for the owners. As you said, most pyramid schemes don’t really have much in actual product, although some do sell some cheap products, but using this business model to sell products/services for those in need of financial help is smart. You’re not having to sell some product that people don’t need, most people do need help with credit repair and general help with things such as travel and medical help. These are actually valuable products, that is if they actually do help, that most people need. My problem though if you are getting into something like this is the success stories that you hear. So few people actually reach that level within the company but the stories make it seem like everyone will. I personally know somebody that became very wealthy through a MLM business but I know waaaay more people that have not. These businesses prey on peoples dreams of getting rich but it rarely is the case. Anyways, thanks for the great review!

    Donald · at 3:17

    Thank you for your comment Andrew. I totally agree with what you said here, and i quote “These businesses prey on peoples dreams of getting rich but it rarely is the case.”

Samikingss · at 10:03

I have seen numerous schemes on the internet which are scam. There are some that I have already lost money to and there are lots of them that continue to swindle innocent people. 

I would like to review this one very well and carry out some more research and ascertain how legitimate it is. I would not like to invest my time and money in any venture that will not be of value or profit to me. 

I hope this one is legit, I really do need an internet based stream of income. 

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