World Financial Group (WFG), formerly World Marketing Alliance (WMA), is a hybrid multi-level marketing organization offering variable life insurance, variable annuities, mutual funds, and other financial products to the middle-income market in the United States through a network of 50,000 associates, of whom 8,500 are licensed securities brokers registered with the co-owned World Group Securities, Inc.

The business is often reported as a fraudulent pyramid scheme by its critics although its continued operation suggests that the regulatory NASD disagrees.

In Canada, WFG operates under two names: World Financial Group Insurance Agency of Canada Inc., which offers life insurance and segregated funds, is regulated at a provincial level; WFG Securities of Canada Inc. is regulated at a federal level and offers mutual funds. WFG Securities of Canada Inc. is a member of Investment Funds Institute of Canada and Mutual Funds Dealers Association of Canada.

The company is a member of AEGON, the Dutch multinational insurance company and owner of many US insurance companies (i.e. Transamerica). WFG's headquarters are in Duluth, Georgia. Formerly known as World Marketing Alliance (WMA), the company was founded in 1991 by Hubert Humphrey, who subsequently founded World Lending Group. A Money Magazine report generally critical towards Humphrey and WMA was published in 2000. Humphrey sold WMA to AEGON in 2001.

Because multi-level marketing has a bad reputation arising from its confusion with illegal pyramid schemes, WFG prefers to avoid the term. Critics say that WFG's business model is a scam and fraudulent. It is particularly criticized for an emphasis on recruitment. However, proponents note that recruitment allows WFG to broaden their operations, and some training is provided by third-party vendors such as WRL, American Skandia, and USAllianz. Participants do not have quotas but must pay their own way for licenses. Proponents also argue that the company has vastly improved with far better compliance under Aegon's supervision (as evidenced by a decline in penalties and fines imposed by the NASD), while critics claim that many of the same people from the pre-Aegon days remain in WFG and therefore little has changed.