Wealth Masters International (WMI) is a Texas based company founded by Kip Herriage, a man whose background is in the finance industry with 15 yrs spent on Wall Street. He and his associate Karl Bessey founded WMI in 2005, having the vision “to create success and wealth in others, one person at a time”.

WMI is set up to be a financial education company. Their products consist of a line of financially-related courses and conferences: the “m1” Education Course (Masters’ Program) is a financial education course that comprises a series of books and CD’s on topics such as financial planning, incorporation, asset protection, estate planning, tax strategies, to help you manage your personal finances and reach your financial goals. The “m2” course (Wealth Conference) promises to provide you with the necessary tools to grow your money, through investment training and access to the knowledge of world-renowned financial experts. The “m3” (Private Wealth Group) invites you in luxurious retreats all around the world for an annual event where “top international personal growth coaches and wellness experts” are supposed to teach you how to raise your level of personal and financial success and how to live your life of complete prosperity and abundance. Their “Alliances”, which are basically referrals to professionals with a proven track record in their field, can be considered a second WMI product line.

Well, prepare to give your best estimate of how much you are prepared to spend on this education and hold your breath, because I am about to translate all courses into figures: the price for the entry-level product, m1, is $1995; the second level product retails for $8,995; the m3 lifestyle experience comes at the price of $12,995 for one individual.

OK, you can breathe out now, because, from my point of view, if these courses are affordable for you, it is all about trust from this point on: do you trust that these courses offer in exchange at least the value of the money you put in? Then, give it a try.

If you’ve decided on taking the WMI path, the next step is to choose how to join them: as a member (access to the information, but no access to WMI’s marketing opportunity) or as a consultant (access to the income opportunity as well).

As with any MLM business, profit is gained from product sales and referrals. You will be sharing your percentage with your sponsoring consultant, though. The compensation plan is a two-level plan. Consultants receive payment only from their own efforts and those of their directly sponsored consultants. Plus, there’s no residual income opportunity. The only passive income can be realized from the over-ride commissions of directly sponsored consultants, but there’s a condition attached to this: the consultant should make at least one sale per month for 10 month out of 12 in a year. Plus, in order to earn commissions from sales of the M2 and M3 products, a one-time purchase of each of these products is required. So, even if there are really high profits from product sales, the compensation system has its drawbacks.

As for marketing systems, they don’t have one of their own; you can look at this the positive way, thinking you are free to prospect any of the good marketing systems that currently work the internet. If you haven’t worked with any online marketing system yet, there’s always the option of finding yourself a good internet marketing mentor to guide you through the process and show you successful marketing strategies that can help you make the best of any MLM business you may choose in the future.