Devere Group's reply to:

Marketing fees

Dear Mr.Mondschein,
As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. However, we do understand that issues may arise, and we are always very willing to clear up any queries or complaints our clients may have. We noticed your post to the ‘’deVere team’’ appears to be about issues primarily related to Providence Life Insurance and STM, your provider and Trustee respectively with whom you had contracted directly. We respectfully suggest you write to these companies directly and/or their regulators.
Regards,
deVere Group
ID
#3053610 Review #3053610 is a subjective opinion of poster.
Loss
$30000
Preferred solution
Full refund

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer

I am extremely irate with having 1% pa deducted from my pension fund (8% in total), by STM / PLL. I have requested documentation to indicate that I was made aware of this at the time of account opening and yet to receive?

I have the account opening documents and this was not disclosed to me.

Please will you advise re regulator that I can approach re PLL and STM. I plan to also go to the SA regulator.

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer
Several Dealing Instructions over 18 months and only two signatures, some made from a death bed. Poor records and paperwork. Trying to withdraw funds funds from clients bank account without permission. Incorrect dates on meetings. Mis selling the product. Not giving...
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2 comments
#2082740

Just dodged a serious bullet with my divorce settlement pension carveout. Thankfully now found a decent, sound advisor to assist me going forward.

Buyer beware, DeVere's recent expansion into the ex-pat communities in Spain & Portugal, opening new offices & "employing" entirely likeable & plausible "advisors" in Barcelona etc. They target you when you're at your lowest ebb, push the right buttons & then the transfer advice arrives via email from someone in Hong Kong, again plausible advice, but in my case not legally sound to my tax position in Spain/UK and would have hit me financially like a wounded rhino should I have chosen to move my assets elsewhere at a later date.

Then the cold-calling from some random dude in "London" commence, asking why I haven't followed up with my advisor in Spain - whilst I'm actually in the middle of a polite WhatsApp convo with my advisor in Spain & have been for weeks leading up to me (confidentially) seeking alternative advice. AVOID AT ALL COSTS.

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ID
#2799120 Review #2799120 is a subjective opinion of poster.
Location
Brisbane, Queensland
Preferred solution
Spanish regulator and police

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer
After being completely misled into transferring my pension to a QROPS with DeVere, i find myself trapped into a pension for another 8 years where i am paying fee's of 4% per year. This is fundamentally and morally wrong and my pension will stagnate at best. DeVere use...
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11 comments
#2097224

Sounds familiar, our family capital went down the drain thanks to advice from a guy called Stephen Cotterill of DeVere. I can only advise anybody to stay away as far as possible from DeVere.

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ID
#2785865 Review #2785865 is a subjective opinion of poster.
Cons
  • High costs
  • Product sold was a scam
  • Losing pension money to an inappropriate product
Preferred solution
Let the company propose a solution
Devere Group's reply to:

DeVere Group Zimbabwe should be ashamed of themselves. Con artists who broker products and manipulate the client for their self gain. Their end game is bases on commission's

The poster has posted such accusations before which have been denied and we simply have nothing further to add, which saves to repeat what we have said before. The poster is fully aware that her complaint has been thoroughly investigated and found to be entirely without merit.
ID
#2728217 Review #2728217 is a subjective opinion of poster.
Loss
$40000
Preferred solution
Everything back including the 48 months of my life and an apology for their despicable attitude
New Reviewer

deVere Group Zimbabwe is unscrupulous. Their existence and purpose is to conn their clients into thinking that they are guiding you into financial security!

You will be financially ruined and dare you try sort this out you will be given a generic standard response.

Dare you continue in your pursuit for the truth you will be contacted by lawyers representing devere with threats and accusations of defamation of character. lawyers with threats

User's recommendation: Please do due diligence on devere group world wide. And just dont do anything with devere group.

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer
Devere Group's reply to:

Dear Mr.Evans, As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. However, we do understand that issues may arise, and we are always very willing to clear up any queries our clients may have. Kindly note deVere...
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Resolved
ID
#2642553 Review #2642553 is a subjective opinion of poster.
Devere Group's reply to:

The worst investment decision of my life.

Dear Mr.Aquilina,
We are sorry to hear about your situation and that your experience didn’t match your expectations. At deVere Group, our aim is to provide expert advice to clients all over the world and we take complaints very seriously. We understand that the company you had invested your money with (which was not deVere), transferred your surrendered monies to you on 5th March with a full statement.
Regards,
deVere Group
ID
#2458116 Review #2458116 is a subjective opinion of poster.
Loss
$12000
Preferred solution
Deliver product or service ordered

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer

The worst investment decision of my life. The 2021 Stockmarket is at record high's and a 16yrs (based on their advice) old invest through Devere Indonesia the investment is at 40% of its initial value.

Is it high management fee's or bad advice? I will never know because they do not give you statements and it is very difficult for them to return correspondence. Once your money is there you will not get any management or correspondence. I am now jumping through hoops (5+ months) as they shift my file to and from office's around Asia, to retrieve a savings fund for my son education.

He is now close to graduation. So the idea of the fund was a joke. I am still wondering if I will see my money.

Devere has cost me more time and money... Stay away.

User's recommendation: Avoid.

Devere Group's reply to:

Total of loss of investment

Dear Mrs.Briggs,
We are sorry your experience didn’t match your expectations. As a company, we consistently strive to reach high standards and ensure client satisfaction is upheld.
It appears we don’t have any record of a complaint, therefore we will arrange for you to be contacted as soon as possible to discuss your concerns and give full details of our complaints procedure if your concerns cannot be successfully resolved.
Regards,
deVere Group
ID
#2128818 Review #2128818 is a subjective opinion of poster.
Loss
$25000
Preferred solution
Full refund

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer

The Four Seasons Growth Plan.

A substantial Investment was made into an unregulated scheme, which was not suitable for my portfolio. I was not advised, not made aware of the risk and no communication followed during the suspension, it also appears that no action was/has been made by Devere to recover my investment.

Devere Group's reply to:

DeVere sold me a 'stable' pension in defunct Strategic Growth Fund

Dear Mr.Pitt,
We would like to reiterate how sorry we are and extremely disappointed to hear about your experience. We are aware that you had filed a formal complaint back in 2018 and already had been contacted by the Head of Risk and Compliance, stating that deVere SA operated on a different FAIS License up to beginning of 2015. This license allowed them to sell the product you had invested in. deVere changed to a different FAIS licence and were no longer able to provide advice on your product. However you had the option to deal directly with the product provider.
Regards
deVere Group
ID
#2020050 Review #2020050 is a subjective opinion of poster.
Loss
$10000
Preferred solution
Apology

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer

Like many it seems I was given misguided advice from deVere in South Africa. In particular the failed Strategic Growth Fund. This was through what was called Generali Vision and now Utmost Vision.

Having finally seen a statement today it seems my ‘Pension’ that I was being sold has lost 50% of its value in a decade.

User's recommendation: Don't use!

Devere Group's reply to:

Total scam

Dear Mr.Chapman,
We are extremely sorry to hear you are not pleased with our service. As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. As you are fully aware, we have already pointed out to you that your complaint had been fully investigated and found to be without merit. In June 2019 we asked you on a different platform, to supply evidence to support your allegations, which you did not. We cannot add anything further.
Regards
deVere Group
ID
#1983798 Review #1983798 is a subjective opinion of poster.
Loss
$13000
Preferred solution
Let the company propose a solution

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer
Devere Group - Total scam
Devere Group - Total scam
Devere Group - Total scam
Devere Group - Total scam

My dissatisfaction is well documented the continuous message that DeVere strive to excel in their advice is mind blowing. Are all the contributors to this site liars ?

Again I say to De Vere ,WHAT DO THE FOLLOWING WORDS MEAN TO YOU "THIS ADVICE REPORT IS VALID FOR 3 MONTHS" .

What do DeVere do ? buy very poor high commission funds 6 months after the report expired !and without any notification whatsoever quarterly reviews hav,nt had one yet even after 4 years, TAKE A LOOK AT THE ATTACHMENTS

User's recommendation: IF YOU ARE RETIRING TO SPAIN THEN KEEP AWAY FROM DEVERE THERE IS NO TAX BENEFIT UNLESS YOU ARE A MILLIONAIRE.

Contact Devere Group Customer Service

Website:
www.devere-group.com
Mailing Address:
281 Seefeldstrasse
Zurich, 8008
Switzerland
Phone:
+4 144 389 8282
Contact Devere Group Customer Service

Latest Question

Urgent request for statement of account

I was a client with the HCMC office and moved back to US in September of 2016. I have not had a US contact despite numerous request when first back. I have triedto contact HCMC office my agent was david and contact his assistant...

Devere Group's reply to:

Frustrated with process of getting paid surrender value of my policy!

deVere do not own any entity in SA and the client is in error, her issues are with Brite Advisors, to whom the entity was sold at the start of this year and changed its name in January.
ID
#1961521 Review #1961521 is a subjective opinion of poster.
Loss
$29000
Preferred solution
Full refund

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website.

Verified Reviewer
New Reviewer

I sent a request to surrender my policy on the 8th of May, I was asked to send more information which did not make sense and was from an automated email with little explanations. After several emails, I sent the required information on 13th May and I am still waiting for my funds!

It's bad enough that I have lost over $29,000 but they are taking forever to repay me whatever little they claim I am entitled to. This company is a huge scam and I will definitely warn anyone and everyone about investing their hard earned cash through one of their products. The response to m initial review proves my point, how can I not know what I am talking about. When I took this policy with Devere I was based in Dubai, not South Africa.

Devere does have offices in Dubai.

I have been contacting the Dubai office to get back my money so I know what I am talking about. Instead of asking for more information they come back with a stupid response.

User's recommendation: Do not waste your hard earned cash on them! Bunch of scanners!

Devere Group's reply to:

Financial Advisor

Dear Sir/Madam,

As a company, we consistently strive to reach the high standards expected of us by our clients. Nonetheless, we do understand that issues may arise, and we are always very willing to clear up any queries or complaints our clients may have. Unfortunately, we cannot find your details as a client on our database. Therefore, would you be kind enough to make direct contact with us on clientrelations@devere-group.com to provide us with further information so that we may identify you and receive any evidence in respect of your experience?

Regards,
deVere Group
ID
#1876913 Review #1876913 is a subjective opinion of poster.
New Reviewer

This company accept absolutely no responsibility for their employees not honouring the promises they made when I invested the money. They offered me no advice despite the fact that they advertise themselves as investment advisors.

I still do not not know the status of the investment or whether they only exist on paper.

The local representative says he cannot advise me. No resolution at all.

User's recommendation: Do not invest.

Devere Group's reply to:

5 Years I lost money and the investment companies made £6250.

Dear Mr.Powell,

We are extremely sorry to hear you are not pleased with our service. As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. Our understanding is that you have already been contacted on a separate platform and the matter is currently being looked into. However, should you have any inquiry or require further assistance, please let us know.

Regards,
deVere Group
ID
#1699752 Review #1699752 is a subjective opinion of poster.
Service
Devere Group Financial Advisor
Pros
  • Global scope
  • First contact was very professional
Cons
  • Take no responsibilities for own mistakes
  • Lack of transparency
  • Do not side with clients
Reason of review
I lost money over 5 years of them advising me. They suggested a 7% growth which would mean 58,000 would become 81,348 over 5 years.
Loss
$23000
Preferred solution
Let the company propose a solution
New Reviewer

I moved my small QROPS of £58000 and 5 years later in a period of financial growth of about 10% per year I made a loss and they took £6250 in fees. How can this be legitimate.

So disappointed and a little angry. Trust once lost is never recovered.

Resolved
Devere Group's reply to:

Resolved: Appalling Quality of Financial Advisors

Dear Mr.Ednei Romano,

Our understanding is that a representative from deVere Group will make contact and shall be assisting you with your complaint. However, should you have any inquiry or require further assistance, please let us know.

Regards,
deVere Group
ID
#1674556 Review #1674556 is a subjective opinion of poster.
Cons
  • High charges
  • Anything once they had my cash
  • Intransparent
Reason of review
Poor customer service
Preferred solution
Let the company propose a solution
New Reviewer
Update by user Oct 09, 2019

I was contacted by their Costumer care representative with an adequate solution to my concerns.

Original review posted by user Oct 08, 2019

It seems like I only contact by the Finacial Advisor when it is of their interest to sell new products or if I provide the contact number for potential new clients.

It is VERY DISAPPOINTING!

Devere Group's reply to:

Devere are the worst

Dear Mr.Collins,

We are extremely sorry and disappointed to hear that you are not satisfied with deVere’s services. As a company, we consistently strive to reach the high standards expected of us with our clients. Nonetheless, we do understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Kindly note, Client Relations will contact you directly.

Regards
deVere Group
ID
#1635351 Review #1635351 is a subjective opinion of poster.
Cons
  • Losing pension money to an inappropriate product
  • Pressure applied by the consultant and his assistant
  • Anything once they had my cash
Reason of review
Bad quality
Loss
$13000
Preferred solution
Full refund
New Reviewer
Update by user Oct 09, 2019

Client Services for DeVere did contact me after my post on this site and investigated my complaint.Regarding my GB 14,000 + loss from the Strategic Growth fund they write that "with Hindsight and knowledge that the advice given by DeVere appeared to be poor"... Opening a new generali Savings fund in place of topping up existing fund was Suitable for my needs and that full policy details were provided.

The end paragraph from DeVere was that if I have any further evidence in my dispute they would be prepared to reconsider but if I remain dissatisfied then I should seek legal advise!In my humble view it looked like a lawyer had written the e-mail.If they had offered a gesture of good will for my losses it would have been welcomed, but they don't have the common sense to understand that I would never ever return my portfolio to Devere or recommend the company to colleagues or contacts who might ask for advise or add this damming conclusion to be shared world wide. ...….

Original review posted by user Aug 25, 2019

Several years ago DeVere moved assets in my QROPS, without approval, then lost money by opening a new savings account with Generali instead of Amending the existing simply to get commissions, I find this out at a later date when I finally found a trustworthy Adviser, but the really difficult part is DeVere keep calling me and asking me to return which is no only unprofessional but extremely annoying ..

Devere Group's reply to:

Generali Vision sold by deVere

Dear Mr.Krantz,

We are deeply sorry to hear that you are unhappy with our services. One of our top priorities is to ensure that client satisfaction is maintained. In the light of this, our dedicated Client Relations Department will revert back shortly on a separate platform.

Regards,
deVere Group
ID
#1624276 Review #1624276 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Pros
  • Keeps contact
  • Good first impression
Cons
  • Take no responsibilities for own mistakes
  • Poor advice
  • Intransparent
Reason of review
Damaged or defective
Loss
$10000
Preferred solution
Full refund
New Reviewer

As many others i hav lost much money due to the misguided advice from deVere. In particular the failed Strategic Growth Fund, but also manual processing errors on deVere's side are main contributors.

Apparently the Generali Vision is called now Utmost Vision, without any information, and today i got informed that Utmost Wealth Solutions have made calculations mistakes and as a result must adjust my plan value down 10kEUR.

Outrageous! Can anyone be trusted in this industry?

Any advice on good legal support for this case welcome.