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Devere Group's reply to:

Devere Group in Cape Town, Western Cape - Crw

From the 8 complaints the only valid one to my mind is Alex. He/She asked a valid question which couldn't/wouldn't be answered. That would also ring warning bells for me. My De Vere chap wants me to invest overseas. Says my money will be protected, i.e. will always be able to obtain my principle. I don't quite see how he can promise this...if the fund loses money how is it able to pay my original investment. Certainly if the company fails the the insurance will pay back 80-90% of the investment. Is there anyone who is using DeVere for off-shore investment only? Would like to hear from you.
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Location
Cape Town, Western Cape
Review #415486 is a subjective opinion of poster.
8 comments
Devere Group's reply to:

Devere Group in Moscow, Moscow - Devere *** artists

I worked at Devere Moscow and left at the end of last year. The staple diet was lies, lies and more lies. FACT: There is no ongoing training given to new recruits. You are responsible for all your own costs including office costs. This is cunningly concealed in the reduced commissions received until you have passed your exams. Devere do not let you sit these exams for 18 months, during which time the 85% commission received has paid for your original training course in Malta, office costs and Darren Heights expensive "recreational" habits...The area managers even take a cut of the registration payment and commission on estate agents fee...So new recruits, ask yourself this, how come 44 consultants have left in the last 14 months and why are the company not allowed to operate in many countries other than un regulated territories?
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Location
Moscow, Moscow
Review #413766 is a subjective opinion of poster.
17 comments

DeVere Group - The best in the business

I have worked with a number of IFA's in several locations and deVere Group have been the most consistent by a mile. They have always been proactive and everything has always been clearly explained to both myself and my wife and I have been guided in the right direction but ultimately given the the choice. We have made money consistently but, more importantly, whatever the return has been it has kept my wife and I discipled as we put something away every month and that's the point I think people miss. Sure your investments will fluctuate like any economic cycle but will you be better off in 15 years having saved something every month?? I know we are. I would recommend deVere to anyone and in fact have helped three of our friends by putting them in touch with my advisor.
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Review #413151 is a subjective opinion of poster.
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Devere Group's reply to:

Devere Group - Start Blogging Charlie!

It is now clear that deVere have infiltrated PC site. Nigel has gotten his cheque book out. There are many free blog sites whereby you can let the world know your personal experices. Why did Nigel Green put a $50,000,000.00 deVere Fund in his secretaries name? Why has this fund now been locked down with all the deVere clients money still in it? Why had Nigel Green (deVere) not set up another fund called Titainium that has the same characteristics as their now frozen UAM Fund? Why were deVere kicked out of Belgium? Why do deVere go to a meeting with a pre programed script in their heads designed to disguise the fact they don't know the first thing about financial services? Why do deVere employ criminals who have been locked up? Why do deVere CLAIM to be independent when they use their own Life Co & Funds? Why? Why? Why?
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Review #413142 is a subjective opinion of poster.
23 comments

Devere Group - $50 Million of deVere Clients money Frozen- UAM FUND

$50 M of deVere client money was recently locked down in Nigel Green's UAM Fund that he had his secretary Bev Yoemans front. International Advisor reported this astonishing news last week (May 2013). Nigel Green is no stranger to running his own funds into trouble, he has a track record which is documented. I bet 90% of these clients didn't even know it was a deVere fund? DeVere have a habit of being conservative with the truth (as well we know). Search International Advisor- deVere $50 Million client money frozen. You'll see the backstage antics behind the scenes, but fortunately for deVere clients authorities have stepped in. Nigel Green has taken his name off as Director (what a surprise)... There will be much more bad news coming about these thieves, just wait and see.
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Loss
$50
Tags
  • Devere Belgium
  • Devere client money frozen
  • UAM Fund frozen
  • 50 Million deVere client money fr
Review #412159 is a subjective opinion of poster.
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Devere Group's reply to:

Devere Group - Up to $50m of deVere client money trapped in suspended UAM fund

Nigel Green & The deVere Group has confirmed that approximately $50m of its clients’ money was invested in the now suspended United Asset Management Strategic Growth Fund. The Strategic Growth Fund was suspended in February after a long period of poor performance. The administrators of the fund – a Guernsey based company called Fund Corporation – have terminated the investment adviser’s contract. The investment adviser on the fund was a Swiss based company called United Asset Management (UAM) and, according to a letter dated 28 March from Fund Corporation, UAM is due to cease its role as investment adviser on 25 May 2013. Fund Corporation was unable to confirm what the underlying assets of the fund were or provide contact details for the fund’s current investment adviser. According to the commercial register of the Swiss Canton of Valais where UAM was based, the company was, until September 2012 owned 100% by deVere Group’s founder and chief executive Nigel Green. A spokesperson for deVere said: “Green’s control of United Asset Management concluded some 12 months ago and his ownership was officially relinquished in September 2012.” The ownership of the company was transferred at that point to a company called Frontier Investments Limited based in Gibraltar. Documents obtained by International Adviser from Gibraltar Companies House reveal that Frontier was incorporated in July 2009 and has since changed its name to Titanium Advisers Limited. Nigel Green has a habit of setting up various companies then when the *hit is going to hit the proverbial fan, he tries to cover his tracks and places nominee puppet Directors, like his secretary... 'Unhappy with performance' The current director of the company is Philip James Rose who is based in Dubai, according to the company registration. Rose is named as the investment adviser on the most recent available fund factsheet for the UAM Strategic Growth Fund. According to the factsheet, Rose began his career at Scottish Widows Investment Partnership in 1999 as an investment director within its UK equity team. The factsheet says Rose moved to the UAE in 2009 to join Emirates NBD Asset Management where he was responsible for “several investment portfolios”. He left in November 2012 when he was made investment adviser to the UAM Strategic Growth Fund. The list of past directors of Titanium Advisers also includes Stuart Teasdale, who was a director for two months between October and December last year. Teasdale also worked at Emirates NBD where he was head of distribution. Another former director is Beverley Yeomans who, according to her Linkedin profile, is Nigel Green's PA in deVere’s main Malta office. Yeomans was director between November 2009 and October 2012. The deVere spokesperson added that deVere was “unhappy with the performance” of the Strategic Growth Fund but was unable to provide contact details for investment adviser Philip Rose. In a bid to explain the fund’s suspension, deVere said: “It is understood the administrators took the decision to freeze the fund as a large number of deVere clients were selling their holdings.” The other named shareholder and director of Titanium Advisers is Sovereign Secretaries in Gibraltar.
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Tags
  • UAM Fund
  • Nigel Green UAM Fund
  • devere Funds
  • devere QROPS
  • Devere Belgium
Review #411872 is a subjective opinion of poster.
0 comments
Devere Group's reply to:

Devere Group in Abu Dhabi, Abu Dhabi - Pension Transfer

Got pestered this evening by a devere employee in a bar in Abu Dhabi making claims about being able to transfer UK pensions offshore. The person called himself Brian Adams. Claimed he could transfer entire UK public service pension schemes out of UK tax liability and also declared that existing UK tax benefits for public sector workers were being reduced. Claims to have transferred the pension rights of a British Army General of the name of David Atkins, who I never encountered in 20 yrs of service! He also boasted personal commission based earnings for this financial year in excess of 150000GBP I disputed his claims regarding the benefits his company could offer and he became aggressive! Dont touch this company....muppets
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Location
Abu Dhabi, Abu Dhabi
Tags
  • Brian Adams
Review #411415 is a subjective opinion of poster.
6 comments
Devere Group's reply to:

Be very careful about DeVere Group

I invested $1250 per month into one of their regular savings plans about 8 months ago. I was told the initial period was 3 months and if I stopped paying I would lose that money and the policy closed down. I accepted that as it seemed to be fair enough to me. However last month, due to unforseen circumstances, I could not continue the policy any longer and needed to cash in the small amount I had been putting away from month 4 onwards. When I tried to call my advisor his phone went to voice mail each time.I then tracked down the policy holder in the Channel Islands and after a lengthy process established that the paperwork given to me by the Devere consultant differed to the original documents at the company. I am going legal with this as it turns out my initial period runs for 18 months and not 3 as I was lied to by Devere. I am left feeling totally ripped off and do not trust this company to reimburse me as they have nor been willing to even discuss it with me personally. It probably won't make a big difference to them but I am telling everyone I meet in Moscow and Eastern Europe to avoid this company at all costs. It seems they hire loutish, aggressive, thugs that promise to help you but in fact just want to make a hefty commission. I know this company is not allowed to trade in certain areas of the world, lets hopee they get out of Moscow and everywhere else sometime soon.
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Location
Moscow, Moscow
Tags
  • Frank the Yank
Review #409858 is a subjective opinion of poster.
6 comments
Devere Group's reply to:

Devere Group - Kuala Lumpur disastrous client advice

Advisers at devere Kuala Lumpur offices are actively bullied in to giving their clients disastrous advice with the only view being optimizing commissions. Country manager Terry Howes and Tariq Mizra do not recommend any clients nor colleague advisers to place single premium lump-sum investments in to viable portfolio bonds. Instead the clients are fooled in to splitting the lump-sum single premium in to high monthly regular savings premiums with maximum length maturity periods (25years). As is the case in over 95% of these plans, the client circumstances change and either stop contributing or substantially lower the monthly contributions. “Positive” Scenario: Client is advised to split a £400,000 lump-sum investment in to £15,000 monthly contributions over 25 years with Generali and told that the monthly contributions can be lowered after the 25.6 month initial period due to fictitious bonuses. The initial period determines the total cost of the plan ie total client cost is £384,000. After the client lowers the monthly contributions after 25.6months to £4,000 and continues paying until the 25 year maturity total contributions equal £1,481,600. The total cost of plan for client is 26% and the “adviser” received £86,400 in commission. [300mnths (25y X12mnths) X £15,000 = £4,500,000 X 1.92%] Negative Scenario 1: Client stops contributing before 25.6months and receives £0. Negative Scenario 2: Client contributes £15,000 for 25.6months and then stops contributing. The total cost = contributions are £384,000. Over 25 years this means an annual 4.9% deduction of capital growth ie the growth has to be minimum 4.9%pa to receive any return. When adding a 3% annual inflation over 25 years it most probable that the client receives £0.
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Location
Kuala Lumpur, Kuala Lumpur
Tags
  • Terry Howes
  • Tariq Mizra
  • regular savings
Review #409525 is a subjective opinion of poster.
7 comments
Devere Group's reply to:

Devere Group - Kicked out of Belguim

deVere Group the worlds largest Financial ***-saultancy has just had it's license in Belgium revoked. In other words they have been thrown out of the country. Devere were only able to sell insurance NOT investments as is the case in many countries they operate in. Most of their staff DO NOT have valid WORK PERMITS and are NOT authorised or properly trained (have sufficient qualifications) to give you Financial Advice. Read this article from TONY HETHERINGTON (UK Daily Mail) and make your own mind up. http://www.dailymail.co.uk/money/investing/article-2323001/Pensioners-285-000-woeful-low-risk-funds. Also search 'WHO STOLE MY PENSION DEVERE' on google to view the Panorama document about these dreadful people. I lost 100,000's of pounds when I was tricked by deVere to handing over my retirement money.
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Tags
  • daily mail
  • pesion scam
  • devere Belguim
  • devere licence revoked
  • devere scammers
Review #408133 is a subjective opinion of poster.