I found the following article at Beyond Grace:
Word-Faith (WOF) teaching, identified with Ken Copeland and Ken Hagin, is the foundation for today’s prophetic/apostolic movement. Several years ago Tricia Tillin wrote an article on the Top Ten Reasons for rejecting Word-of-Faith doctrine.
It requires ‘revelation knowledge’.
It makes the Almighty God and Creator a weak ‘faith-being’ who is at the mercy of His own universal laws.
It makes the Divine Son of God into a born-again man who had to die in Hell to pay the price for our treason.
It elevates man to equality with Jesus.
It makes man a god.
It makes the redemption into a restoration of dominion for mankind.
Its goal is the transformation of the earth by spiritual dominion.
It replaces prayer with confession, and God’s will with the manipulation of ‘forces’.
It denies the reality of sin and sickness.
It focuses on self and the world instead of God and Heaven.