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Devere Group's reply to:

Devere Group - Devere USA-Director Does A Runner From HK Tax Inspectors

The deVere Group has opened an office in New York City. The company said the new office will mark the 17th office it has opened worldwide in the last two years, and its second in the United States, unfortunately devere Director Simon Pratt was nowhere to be seen. He had to get on his toes because he's being chased by Hong Kong Tax Authorities. Speaking via SAT PHONE from some where in the remote out-back Regional director, Simon Pratt said: "I am proud to announce the opening of deVere New York. This latest addition proves that the deVere Group is indeed successful in squeezing every last drop of cash out of the elderly and frail. New York has massive potential (lots of old expats) and we are very excited to have the opportunity to expand to NYC." deVere now has more than 60 boiler rooms worldwide and the group said, with over a million British expatriates and international investors losing money every day we feel great cos it's all coming our way, the USA is a "natural market for deVere Group's progression".
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#298612 Review #298612 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Devere Offshore Antics-The True Story Part 1

Nigel Green & his henchmen who run the various devere and Partners offices (franchises) around the globe probably all own the tax man a considerable amount of money. Recently their Regional Director Simon Pratt resigned because he has Hong Kong tax authorities hot on his heels. He was sent to America to set up offices across the Atlantic (this is now on hold). Search goggle-devere Director on the run Simon Pratt. These thugs (in some cases criminals) are a organised crime syndicate on a massive scale. From the outside it looks like a legit business, nice glossy website, (strategic alliances) far from it. You need to search the devere history to see what this bunch are really all about. From the moment you are recruited (lied to) in London, sent to Malta for the so called training course the lies start to unravel. You get to your country of destination, make contact with the Manager who then proceeds to tell you to pick up a telephone directory, start calling expat companies, lie to the receptionist to obtain names of senior Directors. At the end of the month you have to pay for the office lighting, telephones, air ***/heating, office rent which is another slap in the face. This is the devere initiation process, you will build them a database of approximately 800 names which the office Manager will take a large percentage (anything he likes the look of) be lucky if you haven't run out of money in three months and go back home with your tail between your legs. If this is the case, you will be told clearly it was all your fault because you didn't do it the devere way! If you make it past this stage you'll probably have been to one of the Cocaine/drug parties, *** on tap and got totally *** faced with your Manager encouraging you to drink obscene amounts of liquor. devere is not for the faint harted it's unprofessional, extreme, hard in your face selling. Commission is king, rape and pillage all prospective customers as a matter of course. This is just the Managers take which is filtered down from the very top levels. Its twisted, ***, corrupt and a out right dishonest regime. Not a care in the world for what happens to customers money after commissions have been paid. Someone needs to stop these people because they've be getting away with far too much for far too long. Criminals with large amounts of money and resources, they break all the rules of which ever country they happen to be in to suit themselves. Fortunately some countries have seen devere for what they truly are and have kicked them out. Singapore, Oman & others. Devere are like a chameleon, company name change, employ a PR company to write non stop good articles about them. Reality is they are the same fraudsters, hypocrites, thieves they will always be. How do I know all this? I work for them.
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#298430 Review #298430 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Devere tactics akin to Boiler Room Scams

A Boiler Room Scam is a type of malicious business activity where a "˜company' uses high-pressure sales techniques to sell "˜sure thing' investments with the promise of massive returns, (sounds just like a company we all know). A Boiler Room Scam can look and sound totally legitimate, as they typically mention companies that one can easily relate to. They also provide their UK address or telephone number, and a professional-looking website is a must. They are also usually notoriously persistent, and can even chase a victim for months in the hope of a sale. What they will be selling is predominately very costly FRONT END policies in often quoted companies. Boiler Room Scam operators generally cold-call their targets, (sound familiar) using phone numbers from publicly available shareholder lists or LinkedIn. Since it is against the law for investors to cold-call in the UK, they tend to be based abroad (this is where devere are so active abroad), where they are beyond the jurisdiction of the Financial Services Authority (FSA). Quite simply, they will approach anyone, anywhere at anytime. The deVere Group conducts their business in similar fashion to above mentioned, they will continue to make sure that all the deVere clients are well & truly stitched up so they have no surplus money to invest with any other company. As a general rule, remember that if an opportunity sounds too good to be true, then it almost certainly is. If you think you may have been targeted by said company, you should contact the FSA (immediately),contact centre on +44(0) 845 606 1234. You may also find more information about Boiler Rooms Scams on the FSA website www.fsa.gov.uk. There are many other reliable search engines (goggle) this shows different countries they've been thrown out of for operating without proper licences, no work permits etc. Complaints are rampant.
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#298229 Review #298229 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Devere qrops*****OFFSHORE ALERT*****

De Vere Group, the offshore IFA, was among the promoters of the Beazley QROPS that has been struck off HMRC's list of approved schemes. It has not been confirmed how many de Vere clients were put into the scheme, but it is thought it could be more than 100. Skandia International, the offshore insurer, has now revealed it has 166 cases on its books in which its portfolio bonds were used as an investment platform within the Beazley QROPS. Advisers from de Vere, which describes itself as the world's largest financial consultancy - with more than 50,000 clients in over 100 countries – are thought to have been the main provider of the Skandia bonds business in which Beazley was the corporate trustee. The names of other advisory firms that recommended the Beazley QROPS to clients are not currently known. International Adviser exclusively revealed this week that Beazley had written to clients informing them HMRC had struck it off the QROPS list, the consequence of which could be investors losing 55% of their pension in tax charges. Proof of 'good faith'Beazley told clients they should write to HMRC, providing all their details and information about the advice they received on the pension transfer, in order to help the Revenue establish whether they moved their pension in "good faith". If "good faith" – that clients intended to use Beazley as a genuine pension - can be established, HMRC will take a more lenient approach to leveling unauthorised payment charges. A spokesman for de Vere said it would be doing all it could to help ensure clients are not charged. "de Vere Group will continue to keep clients fully updated on any developments and will be in frequent contact with the trustees to do all possible to ensure that this matter is brought to a satisfactory conclusion." The spokesman added that no advice was provided on the scheme by de Vere's FSA regulated UK operation, noting it was only used by international clients. If "˜good faith' cannot be proved – the implication of which is that clients were intending to bust their pensions at the end of the five year QROPS statutory reporting period – the full 55% is more likely to be applied. International Adviser has seen an email sent from Beazley, informing clients and distributors that it was closing to new business from July 2008 as a result of its "overwhelming success". The email said advisers can continue to make transfers into the Beazley scheme until July 31st 2008. Pension busting claimsAccording to sources, some advisers were openly selling Beazley as a pensions busting vehicle which they could cash in after five years. It is unclear why clients of the Beazley scheme only received letters informing them it had been struck off the QROPS list in the past few weeks when it shut down more than two years ago. It is also unknown who is behind Beazley. The Hong Kong equivalent of Companies House lists the sole shareholder and only corporate director of Beazley as a company called Grampian Managers. The corporate secretary is given as Sovereign Secretaries Hong Kong, which is part of a trust company called Sovereign, which has offices in Gibraltar and Hong Kong. When International Adviser put questions to Sovereign, a statement was received from law firm DLA Piper!. It said: "The Beazley Consulting Pension Scheme was set up in 2007?. At the time Hong Kong lawyers advised that the scheme met HMRC's criteria to qualify as a Qualifying Recognised Overseas Pension Scheme ("QROPS") in the UK?. "Appropriate legal advice was taken in Hong Kong before Beazley Consulting submitted its application to HMRC and HMRC accepted that the scheme met its relevant criteria?. "Some 18 months later, after taking its own advice, HMRC decided that the regulations to which the scheme was subject did not meet its criteria and that the scheme no longer qualified as a QROPS?. "This decision also affected other similar schemes,. Since then Beazley Consulting has been working closely with HMRC to resolve the issue and has advised members of the best way forward.."
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#298090 Review #298090 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group-Nigel Green & Company (formally Inter-Alliance)Kicked out of Singapore

MAS IMPOSES A COMPOSITION AMOUNT OF $56,250 ON INTER-ALLIANCE INTERNATIONAL (SINGAPORE) PTE LTD FOR LICENSING BREACHES UNDER THE FINANCIAL ADVISERS ACT AND FINANCIAL BREACHES UNDER THE INSURANCE (INTERMEDIARIES) REGULATIONS, AND WARNS CHIEF EXECUTIVE OFFICER 1 Inter-Alliance International (Singapore) Pte Ltd ("IAIS"), a licensed financial adviser until 18 February 2008, has paid a composition amount of $50,000 for contravention of section 13(1) of the Financial Advisers Act ("FAA"). IAIS has also paid a composition amount of $6,250 for contraventions under the Insurance (Intermediaries) Regulations ("IIR"). 2 IAIS allowed 8 of its representatives to conduct financial advisory services in Singapore without holding a valid financial adviser's representative's licence under the FAA, in breach of a condition of its financial adviser's licence and hence, section 13(1) of the FAA. MAS is separately reviewing possible action against the unlicensed representatives. 3 IAIS also carried on business as an exempt insurance broker under the Insurance Act by distributing accident and health insurance products. In breach of regulation 11 of the IIR, IAIS failed to notify MAS that it was doing so. In breach of regulations 3 and 4 read with regulation 6 of the IIR, IAIS also failed to meet the minimum paid-up share capital requirement of $300,000 and professional indemnity insurance requirement of not less than $1 million for an exempt insurance broker. 4 Mr Robin Eric Deal ("Mr Deal"), IAIS' Chief Executive Officer ("CEO") from April 2005 to February 2008, was issued a supervisory warning for a contravention of section 84(1)(a) of the FAA for failing to properly discharge his duties as the CEO of IAIS, which includes managing the business of IAIS to ensure compliance with the relevant laws and regulations. Mr Deal had allowed IAIS and its representatives to sell the life products of unregistered insurers to clients in Singapore without seeking MAS' prior approval. 5 IAIS is wholly owned by the deVere and Partners group. The deVere and Partners group is in turn, owned by Mr Nigel Green. 6 The contraventions were uncovered by MAS during its inspection of IAIS in September 2007 following a series of complaints against the company. 7 IAIS ceased conducting any financial advisory services on 18 February 2008. Mr Deal resigned as the CEO on the same day. Financial institutions should ensure that the individuals they appoint to provide financial advisory services hold the necessary licence. MAS also expects CEOs to discharge the duties of their office properly. This includes implementing effective policies and procedures to identify and address the risks associated with the business activities of the financial adviser and ensuring compliance with the relevant laws and rules.
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#298086 Review #298086 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - DeVere-Lied-Cheated-Stole Money

J.M.writes: In 2007 the deVere Group advised me and my wife to invest in the Premier Property Options Fund and the Premier Diversified Property Fund, described in the sales brochure as 'low volatile investments'. We were advised they would provide an immediate regular income and we invested £100,000 from our life savings. The transaction took place in Cyprus, where we have a holiday home. In 2010 the Options Fund was compulsorily redeemed and the Property Fund frozen, with losses of about 60 per cent. We complained and found that deVere in Cyprus comes under a licence issued to deVere in Belgium, but this licence only covers insurance. The deVere Group describes itself as 'the world's largest independent international financial planning consultancy'. Its London office is licensed by the Financial Services Authority, but you were stuck in the regulatory minefield called 'passporting'. Leaving aside the particulars of your dispute, I should explain that under an absurd European Union rule, there is a fiction that if a company has a financial services licence in one country, then it deserves a 'passport' to operate in every other country without further vetting. This assumes all regulators are equally efficient and provide equal consumer protection. Total rubbish. Read more: http://www.thisismoney.co.uk/money/experts/article-2038619/TONY-HETHERINGTON-Publish-peril-warns-financial-giant.html#ixzz1mdjm5TXs
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#297893 Review #297893 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Devere offices-SE Asia Region-Pay Bribes to Immigration Authorities

What about SE Asia? I was informed they were kicked out of thailand 4-5 yrs ago because they had (and still have) lots of sales people working without work permits, illegal with strict thai immigration laws. My intel informs me that the "dwarf"in Bangkok (apparently he's a very aggressive bully with short person syndrome) has the thai immigration authorities in his pocket. He gives them so called tea money to keep them from hassling Bangkok & Pattaya office. The leopard can't change its spots now can it. If you look at the history of these boys they started off in boiler rooms, that mentality was never left behind. They have a great looking website, many offices around the world (unfortunately same low life people running the show). What appears to be a global, legitimate operation is a cover for HARD SELL IN YOUR FACE EXPENSIVE POLICIES. devere employ a host of bloggers, PR companies to try and black out all the bad press (THE TRUTH) about their nasty antics. It works in some cases, the way they treat customers and their own staff, people are going to write feedback. UK FSA & serious fraud office will be knocking on their doors soon with handcuffs. I feel they know this which is why they're so aggressive in making every sale, they think it could be the last one.
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#297885 Review #297885 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group in Crawley, England - How to complain about these rip off guys

devere group are not bona fide financial advisers, apart from devere (UK) and devere (USA) where they have no choice to accept regulation if they want to operate, everywhere else in the World they have no regulator and can pretty much do what they like, including ripping you off with advice from sales guys who have no experience and who are not qualified and a company that has little or nothing in the way of consumer protection. Devere are known worldwide not for being the No1 international IFA that they claim but due to hard sell bully-boy cold calling tactics and the frightful commissions that they take. They sell products off-shore that are banned by the UK regulator and have no knowledge on investment performance. This is because they are just a sales company with a very nice website and sales-pitch projecting the image of a proper IFA firm. This is not the case in reality. However they do need to obtain licences in the countries that they operate and if enough people complain they can have their licence taken away. deVere and Partners (Belgium) Limited BVBA is authorised by the Financial Services and Markets Authority (FSMA - www.fsma.be) in Belgium and registered on the intermediaries register under number 61476; subject to FSMA supervision solely for the purposes of insurance mediation under the EU Insurance Mediation Directive. The following branches operate under the same license: Cyprus, Luxembourg, Spain and France. deVere Germany GmbH is registered in the commercial register of the local court of Frankfurt am Main under HRB 55281. deVere Group Limited GmbH (Switzerland) is authorised by the PolyReg General Self-Regulatory Organisation. deVere Hong Kong Limited is registered as an Authorised Insurance Broker and is regulated by the Hong Kong Confederation of Insurance Brokers (CIB). deVere & Partners Japan is authorised and regulated by the Kanto Local Finance Bureau, investment advisory business licence register. deVere Investment South Africa (Pty) Ltd is an Authorised Financial Services Provider in South Africa and is regulated by the Financial Services Board. deVere and Partners (UK) Ltd is authorised and regulated by the Financial Services Authority (469151). deVere Malaysia is authorised and regulated by the Labuan Offshore Financial Services Authority (LOFSA). deVere Uganda is authorised and regulated by the Capital Markets Authority (CMA). deVere USA, Inc is authorised and regulated by the Florida Office of Financial Regulation (Florida).
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#297881 Review #297881 is a subjective opinion of poster.
Devere Group's reply to:

Nigel Green Devere Group Scams

de Veres Scam Copy and paste links below to get the real picture on devere & pPartners or whatever they call themselves now. They change their name more often than I change my underpants. They have been throw out of many countries, its the same people behind the current company. They treat their staff with contempt, customers they will tolerate until they'e had all their money then its another story. These are corrupt, thieves that will only line their own pockets at everyone's expense. Take a good look at the links, make your own mind up about them. http://www.cqdx.gov.cn/Faq/FinancialPlanning/200909/19460.html http://www.mas.gov.sg/news_room/enforcement/2008/Inter_Alliance_International_Singapore_Pte_Ltd. http://dubai.dubizzle.com/discuss/general-chat-fun/6725/ http://www.ripoffreport.com/Search/Company/deVere-Partners.aspx http://muscatconfidential.blogspot.com/2010/03/devere-oman-locally-somewhat-bent.html
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#297604 Review #297604 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Devere Scammers Be Warned-Stay Clear

I was missold a completely inappropriate product by De Veres (they seem to be registered as different names in different places) Be warned they are not Independent Advisers despite what they tell you. They are not all trained in finance and they are in it soley to take as much commision as possible? I am not against commsion but I am against people mascerading as 'consultants' working in your best interests. They mislead and misrepresent and they use products that create a conflict of interest between you and their own best interests. A 'low commision policy' has turned into nothing but payments towards commission and management fees, you pay this before any of your money is invested for you. I am down $55,000.00 in the first 18 months - nice if you can get it. they will tell you everything but the truth about the commission. DO NOT TRUST THEM and DO NOT pass on the details of your friends - they will tell them you have recommended them and will make them a lot of money - yet they have yet to do anything for you at this point except commit your earnings to their commission pot. They will make you feel obliged to pass on the details of friends because of all their valuable time YOU have taken - remember they contacted you.... you owe them nothing. refuse and you will see their true colours.
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#297600 Review #297600 is a subjective opinion of poster.