Founded in 2004 by Parimal Naik and Mike Toloff, Financial Education Services (FES) is a multi-level marketing (MLM) company. The company’s mission is to provide free financial education resources to client employees in New England. The company also provides a variety of financial products and services to consumers.
Financial Education Services’s services include an education program and a health and assets care plan. Its programs are designed to enhance clients’ financial portfolios and improve personal finance situations. The company also sells insurance and wealth programs. Its online portal is updated automatically.
Financial Education Services also offers a smart credit monitoring system. The company claims to increase consumers’ credit scores and their ability to qualify for lower interest rates. It is also said to remove negative information from consumer credit reports. However, there is no proof that these claims are true.
Although Financial Education Services claims to be a reputable company, there are plenty of questions about its business practices. The company has been cited by the Federal Trade Commission as a pyramid scheme. In addition, it has also been accused of recruiting customers to become sales agents.
Financial Education Services also offers a money back guarantee. It has a membership fee of $89 per month, though. The company also offers a variety of programs, including an FES protection plan plus, a rent reporting program, and a secure credit card offer. The company also offers travel benefits and a health and assets care plan.