Wealthability & ProVision - buyer's remorse & need advice

10 Replies

Recently, I had an initial call with Wealthability (Tom Wheelwright's new company, closely tied to ProVision). After the initial call, I was presented with an option to purchase lifetime access to their My Tax-Free Wealth Roadmap for a discounted cost of $1,797. This is completely self-study with two "live" group calls with Tom every month.

After paying for this, I immediately experienced buyer's remorse. Big expenses trigger this feeling (However, that's a different topic). Anyway, I'm wondering if maybe I should attempt to get a refund.

I've briefly looked over the materials, although haven't yet gone through any of the modules.

I like to think I got a good head on my shoulders (who doesn't think that about themselves?), however, I know more due diligence should have been done. The more I think about it, I could get this information from books (Tax-Free Wealth from Tom Wheelwright and The Book on Tax Strategies for the Savvy Real Estate Investor by Amanda Han and Matt MacFarland) and talking to accountants.

By not asking for advice on this first, I feel embarrassed. Even making a public post about this makes my stomach hurt. I'm asking for advice on whether it makes sense to just use the material (since it's lifetime access), or go about requesting a refund (the website is not explicit on their policy and would have to reach out to them).

Appreciate any advice.

Hi Steve, I've been hearing the same thing from a lot of people recently. I know @Brandon Hall puts out some great information and overall has done tremendous work for my real estate asset protection clients. Have you had an opportunity to attend any of his webinars or online events yet? They are full of great info.

@Steve J. I haven't taken the course or paid for their services but we have current clients who have in the past. I can't comment on the content, but if you don't feel good about the purchase, then request a refund and buy Amanda's book. Or just read blogs. There's so much free and useful information out there that you can find if you don't mind spending time doing some digging. 

The problem with these types of products is that they are not TAILORED to you. When building a tax or wealth plan, you absolutely need it to be tailored to you.

I can tell you all about being a real estate professional for tax purposes and I can charge you $1,500 to do so. But does it provide any value at all to you? Can you even qualify? You are more knowledgeable, sure, but can you use the knowledge now or in the future?

Additionally, be wary of CPA firms, businesses, attorneys, wealth planners, etc who will take on any client who walks through the front door. Once our firm identified our target client, we turned everyone else away (for tax planning, prep, and accounting), and as a result we focused only on the clients we knew we could consistently add significant value to. It's hard to turn away clients and we didn't do it for a long time, but once we did, our client service significantly increased and our clients are walking away with a lot more value. 

We have considered rolling out group courses such as the one described here, but one question we can't answer is "how will we provide value to everyone in the room?" These group courses are an excellent way for ME to scale MY business and earn more money. It's not necessarily an excellent way for YOU to scale YOUR business and SAVE more money because the content may not apply to you at all. 

It does sound like there is a mastermind element to this. I'm not sure what the live group calls look like but those could be valuable for you depending on how the calls are structured. If it's just a lecture, I wouldn't waste time with it. 

Anyway, point is, if I spent that type of money, I'd want someone looking specifically at my situation and saying "you need to do X by Y date." 

@Brandon Hall  thank you so much for your response. You are absolutely right about needing it to be tailored to me. That's something I didn't think about.

After much thought, I've requested a refund. The gentleman I initially spoke with will be reaching out to me, probably to discourage me from getting a refund.

There is no mastermind to this, from what I see. It's all self-study. I was fortunate to attend one of the calls. If the calls are all the same, then it's a combination of hearing about a specific topic and a Q&A session with Tom. In no way would I be interacting with people who are going through the study.

Although, I understand it's best to get acquainted with some basic understanding before seeking a professional. I can read and study all day long. What I'm really wanting is guidance.

@Scott Smith I'll be looking at Brandon's stuff to become more educated. Thank you for the suggestion. What do you mean you've been hearing the same thing from others recently? In regards to Wealthability & ProVision?

I wish I could give @Brandon Hall ten upvotes, but since I can't, I'll just say I agree completely with what he said. There's an art to using professionals. Generally, the best advice with any kind of pro--CPA, attorney, adviser--is going to be from one you hire to personally put their attention on you and your personal situation. There is no one-size-fits-all strategy for taxes, the law, asset protection, etc. Anyone claiming to have such solutions should be regarded with skepticism. Definitely DO check out Brandon and Amanda's resources. As for this situation, maybe consider it an expensive lesson. If nothing else, posting about it on BP may let other investors know to consider whether this program is the right choice for them.

To clarify, @Steve J. , I also do not know anything about this particular program you purchased. What I do hear from clients and investors frequently is that they purchased XYZ Program, usually under the pretense that it will be life-changing, transformative information (or because it is branded with the name of a successful investor) and found themselves feeling "buyer's remorse." Your situation is not uncommon. At least now you know that there are many of us professionals who do give away information that is truly for free. Personally, I make a point of not charging for educational content that is for general audiences. Personalized legal advice is one thing, but there is so much educational content that is worth giving away just to help out fellow investors. Some other professionals who you might want to pay attention to include CPA on Fire Josh Bauerle, Paul Moore, and Rod Khleif. Amanda is a great start and her book is definitely worth a read. If you're unable to get a refund, maybe you can make use of the content you received by reviewing it and sharing your thoughts here with the BP community.

A personal philosophy of mine that you might find useful is that you only lose when you quit. Otherwise, you're just winning or learning. It sounds like you're learning right now. And that's okay!

Hi @stevegjohnson ! I work for WealthAbility, all of our products/services are a fully guaranteed for 30 days with a no questions asked refund policy. If Tom's live sessions aren't the right thing let us know (sounds like you've done that) we'll for sure get you squared away. 

I agree with Brandon's feedback that any specific plan needs to be tailored to you, I don't agree that education on tax planning is a waste of time though :-) 

Cheers!

Brad Doran

Hi @Steve J. ! I work for WealthAbility, all of our products/services are a fully guaranteed for 30 days with a no questions asked refund policy. If Tom's live sessions aren't the right thing let us know (sounds like you've done that) we'll for sure get you squared away.

I agree with Brandon's feedback that any specific plan needs to be tailored to you, I don't agree that education on tax planning is a waste of time though :-)

Cheers!

Brad Doran

I had one conversation with Brandon in the past, really nice guy and knowledgeable. I would definitely agreed with Brandon that no one size fits all as we all have different strategy in our roadmap to wealth building.  With that said, I absolutely believe education oneself is REALLY important. As Brandon mentioned, there is a wealth of info out on the internet.  Spend some time on it.

A paid $1997.00 for the tax-free road map last June. I wish I hadn't. It's far past the 30 days to get a refund for me.

I believe this payment can work as an education credit for tax purposes though. This is how I came across this thread today.