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Devere Group's reply to:

Devere Group in London, England - Devere & partners / Generali

deVere Group prides itself in providing expert and personalised financial advice to clients around the world.

As one of the world’s leading independent financial services organisations, deVere Group does not directly deal with clients’ money but only provides the best possible financial advice to suit your needs. Therefore, only Generali would receive money directly from a client for their investment.

Having gone through our records, we have been unable to locate your details. However, you are more than welcome to contact our dedicated client relations team and provide them with your Generali policy number for reference so that we may try to resolve your issues.
Review
#1046013 Review #1046013 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Cons
  • Being scammed out of 11600 euros
  • Being lied to
Reason of review
Bad quality
Loss
$11600
Preferred solution
Full refund
Tags
  • devere scammers
  • deVere London
  • Generali international scams fraud

I was scammed out of several thousands of euros by Devere & Partners, who sold me a so-called Generali Policy. This happened as far back as 2010.

I know that there are literally thousands of people who have fallen prey to this scam. The problem is: a lot of people seem to want to TALK about it; but nobody is interested in actually doing anything about it. I went as far as hiring a lawyer, who was based in London (UK). Mainly because that's where DeVere was when they stole my money!

My lawyer understood my situation, but he advised me that to let it go, because: the legal fees alone would exceed the money which Generali had stolen from me. His advice: find as many people as you can, who were also scammed, and organize ourselves into a group. Then, launch a legal battle. I have been searching for anyone who is interested in taking this matter further.

But, so far, have not found anyone with the balls to get up and fight these animals! As in: launching a legal attack on Generali and somehow getting back the money they stole from us.

!! If anyone is serious about getting together to hire a lawyer, here's my email: darwell.steve@yahoo.com

Devere Group's reply to:

Devere Group in Vevey, Vaud - I was seriously misled by a De Vere Group Switzerland Advisor and have lost 20% of my investment

deVere Group provides expert independent advice to clients all over the world. Together with our high level of service, our fully-qualified financial advisers work closely with clients to help them choose the best investments based on their personal circumstances to help maximise their capital and income. We recommend products from some of the top institutions across the globe, which has allowed us to become one of the world’s leading financial advisory organisations. We take all complaints very seriously and can confirm a member of our Clients Relations team will be in contact with you shortly with details of our complaints procedure.
Review
#1030577 Review #1030577 is a subjective opinion of poster.
Cons
  • Deception and lack of full disclosure
Reason of review
Not as described/ advertised
Loss
$15000
Preferred solution
Full refund

I was an expat for a Swiss multinational for a number of years. I met with a representative, first name Tim, from De Vere Geneva who was referred to me by a colleague and as a result invested £51,280.37 from a U.K.

pension into the product he recommended which was an RBS Autocallable note based on the Russian, Chinese and Brazilian indices. This product has just matured after five years and has not done well. However the performances of the indices are such that based on Tim’s assurances at the time my capital was supposed to be 100% protected. What he actually told me in writing was ‘In March 2017, if the product has not "called" then you will receive your capital back in full, unless one of the Indices is more than 50% down.’ On the date of maturity none of the indices were down more than 50% so based on this any reasonable person would assume that I would receive £51,280.37 GBP because Tim told me I would receive my ‘capital back in full’.

In actual fact I will receive only £41,425.21 back because De Vere and their financial cronies have all taken a piece of the action i.e. nearly £10,000 or 20% of my original capital. All this from an investment that produced zero return over five years when most markets were red hot.. So clearly I was seriously misled by De Vere – receiving 80% of my original investment back is not the same as receiving ‘your capital back in full.’ I don’t think you can escape the reality that De Vere lied to me about this.

As my legal friends would say : ‘res ipsa loquitar’ the facts speak for themselves. Having worked with a number of investment advisors over the years I have never worked with anyone who was so reckless with the truth. Based on my own experience and the other reviews I have read De Vere push high risk products with huge up front commissions for them and once you have signed up they lose interest.

As a client you are only a means to an end and they appear to have zero interest in actually protecting your investments. Based on the actual facts I have noted above there is no evidence that you can actually trust what they say.

Devere Group's reply to:

Devere Group - Breaking the law

Our aim at deVere Group is to provide quality financial advice to all our clients, so we take any complaint very seriously. We are sorry to hear you are not happy with your experience, however we can confirm that your matter has been investigated and a response given to you. Should you have any further concerns, please feel free to get in touch with our Legal team directly who will be more than happy to assist.
Review
#1026963 Review #1026963 is a subjective opinion of poster.
Cons
  • Unclear on fees
Reason of review
Poor customer service
Loss
$150000
Preferred solution
Full refund

I was sold a Generalli Vision product in the UAE in 2011 which includes an insurance element. At this time Deverre (PIC) were not licensed to sell insurance products in the UAE and hence I feel this sale should be null and void under UAE.

I have written to both Deverre and Generalli on this matter but neither has had the courtesy to respond. I just wanted to warn others the extent this company will go to to make commission.

I have consulted with my legal advisors and am told that the company breached both Articles 24 and 26 of Federal Law No 6 of 2007. I would be interested if they would respond on here.

Devere Group's reply to:

Devere Group - Bad QROPS Advice Cost Me $50,000

Our aim at deVere Group is to provide quality financial advice to all our clients, so we take any complaint very seriously. We are sorry to hear you are not happy with your experience therefore encourage you to provide us with your plan details so that our dedicated Client Relations Department can investigate this matter further. Kindly note that they can be reached directly on clientrelations@devere-group.com in order to further assist with your complaint.
Review
#1025111 Review #1025111 is a subjective opinion of poster.
Reason of review
Misselling
Loss
$50000
Preferred solution
Let the company propose a solution

While working in Germany I was contacted by DeVeere Group who sold me on the benefits of a QROPS in Malta. At the time my country of residence was the USA where I am a green card holder.

The move of my UK company pension to a Malta plan has cost me nearly $50,000 in taxes and fees paid to the USA Inland Revenue Service.

As others have stated, as my account was under 100,000 GBP and I should never have been advised to move the account. What's worse is that now I am back in the USA, DeVeere Germany won't talk to me and DeVeere USA will only talk to me if I pay them more money.

Devere Group's reply to:

Follow up to review #1019544; Devere Group - Poor plan performance, wish I'd never heard of Devere.

Dear Mr. Platts,

We are very sorry to hear this, we can assure you that your queries above have been noted and our dedicated Client Relations Department shall be in contact with you shortly in order to provide you with the information you have requested.

Regards
deVere Group
Review
#1023487 Review #1023487 is a subjective opinion of poster.
Cons
  • Commission
  • Lack of disclosure
  • Lack of transparency
Reason of review
Lack of transparency, leading to suspicion and lack of confidence

Many thanks for your kind response to my initial review team Devere. Indeed, it would appear that you have been transparent in stating that one of your advisors has been in contact with me, however, I've asked for the same advisor to disclose all interests that Devere have now or previously held with my plan provider, STM Malta so as to rule out any potential conflict of interest, but I suspect that if the Malta Financial Services Authority cannot extract this information out of you guys, I guess I've not no chance....

I've also asked the same advisor to be transparent in sharing the commission Devere have received in connection with my interests, but again, no response. So team Devere, lets see some transparency...

Devere Group's reply to:

Devere Group - Poor plan performance, wish I'd never heard of Devere

deVere Group’s dedicated team of advisers spread across the globe pride themselves in providing the best solution for each client’s needs. The financial adviser who deals with your plan has been made aware of your situation and has contacted you accordingly in the hopes of fully resolving the matter. As one of the world’s leading financial advisory organisations, we recommend products from several of the best institutions across the globe. The products and services we offer are designed to be tax effective whilst also offering the opportunity for long term growth. All the companies we recommend are fully regulated.
Review
#1019544 Review #1019544 is a subjective opinion of poster.
Cons
  • Fees
  • Unrealistic initial forecast wholly inaccurate
  • Lack of realignment input
Reason of review
Bad investment advice
Loss
$3500
Preferred solution
Better and more transparent advice on investments, performance and fund management fees - the 'vulture' of society

At my recent policy valuation review, I was advised that my small pot plan was performing well, yet on closer inspection my plan is still worth considerably less than first invested and only after my complaining have Devere offered to review performance and look at alternative strategies. If I could turn back the clock, I'd never have listened to these guys.

Don't listen to the Devere bulls$it about market volatility and long term strategy, for small investors such as I, keep your money under your mattress because the only parties that make money from my experience, are everyone but the investor. Thanks for nothing Devere Group

Devere Group's reply to:

Devere Group in Wil, Sankt Gallen - USE COLLECTIVE POWER TO STOP DEVERE IN SWITZERLAND

deVere Group provides expert independent advice to clients all over the world, helping them to maximise their capital and income. As one of the world’s leading financial advisory organisations, our dedicated team of advisers spread out across the globe are on hand to find the best solution for each client’s needs. The products and services we offer are designed to be tax effective whilst also offering the opportunity for long term growth. All the companies we recommend are regulated within their own right and any trades undertaken by deVere on behalf of its clients are only done with the client’s understanding and approval. deVere Group is working with the Regulator and Joint Administration Managers in Guernsey to ensure that its affected clients are kept regularly up to date with the Fund’s progress.
Review
#1007808 Review #1007808 is a subjective opinion of poster.
Cons
  • Scam
Reason of review
Poor customer service
Loss
$200000
Preferred solution
Full refund

I feel like I have been raped by Devere. The advisor William Offen was indeed friendly and had all the right words and illustration and convinced me to change my UK pension into a QROPS pension.

In fact he was nothing more than a confidence trickster. The low risk investment he claimed was needed for access for the annual pension, was in fact a high risk and not only that ,it appears that Nigel Green of Devere had his hand in the investment fund ( insider trading). My pension investment is frozen (im talking in several £100’000 capital)and is in the courts of Guernsey, but it is hard to say how long it will take to release this funds. In the meantime I have lost my annual pension.

Devere claim, that they are regulated by PolyReg in Switzerland, but PolyReg only refer you to Swiss lawyers and they want several thousand up front before they even talk to you.

On top of that I have not found one that actually knows what a QROPS pension is. If you have a similar situation, I feel collectively we could make Devere pay.

Devere Group's reply to:

Devere Group Abu Dhabi- I have lost nearly AED 100,000 as a result of this companies negligence.

deVere Group provides expert independent advice to clients all over the world, helping them to maximise their capital and income. Together with our high level of service, we recommend products from some of the top institutions across the globe, which has allowed us to become one of the world’s leading financial advisory organisations.

We take all complaints very seriously and are sorry to hear you are not happy with your experience of deVere Group. It is of our understanding that a member of our team has already been in contact with you regarding this complaint, where we also provided you with more details on the matter.
Review
#997023 Review #997023 is a subjective opinion of poster.
Cons
  • Unprofessional and negligent
Reason of review
Poor customer service
Loss
$26086
Preferred solution
Full refund

Cheques given to them to pass on to my Financial account were not paid. The company contacted them and told them that payments were missing from my account and gave 90 days for money to be paid, and Devere failed to inform me of this.

They informed me much later, and as a result my account was surrendered. The company my account was with have told me they contacted Devere several times about my account, and that Devere did not get back to them. Devere's negligence has caused us to lose nearly AED 100,000 of our hard earned money! I have complained, and all they can say is that there is nothing they can do about it.

They do not deny that they failed to do their job as brokers, yet they do not offer any compensation for our loss. This has been a very sad and painful experience!

Devere Group's reply to:

Devere Group in Kuala Lumpur, Kuala Lumpur - Not Happy at all

deVere Group prides itself on providing a high level of service and strives to uphold good relationships with all of its clients. Our fully-qualified financial advisers work closely with clients to help them choose the best investments based on their personal circumstances to help maximize their wealth. We take all queries very seriously and can confirm that an adviser will be in contact with you shortly to discuss this matter further.
Review
#980839 Review #980839 is a subjective opinion of poster.
Reason of review
Poor customer service
Loss
$20000
Preferred solution
Full refund

Devere Advisor are the less professional i have ever seen, the subscription i made through this agency end up being a total lost of money. i was promised a 10% growth each year, after 6 year the plan value is lower of 5000USD than my total investment.

when i look at closely, i found out that i never made any profit since i started investing in that plan. if i decide to surrender now, my expectation was to get my money back, at least what is remaining, instead, i will be loosing ~15000USD. those are the kind of things Devere Advisor never tell you when approaching you.

for the last 4 years, none of the adviser never called me to advise when they said they will always be calling me or following up on my investment and advise on options. They are very bad, never even accept being approached by them.

Devere Group's reply to:

Devere Group - Annulled Licence

deVere Group re-structured its European operations some years ago. This included the decision to reduce our presence in a number of countries, and instead, choosing to passport in to all European countries from our hubs.

This strategy has been very successful and we continue to provide excellent service for our clients in Western Europe and across the globe, from our 70 worldwide offices.

As a company, deVere continues to grow at exceptional pace and has recently announced its latest office based in Auckland, New Zealand.
Review
#971819 Review #971819 is a subjective opinion of poster.

The operation run by this firm in Cyprus was via their office in Belgium. That had its licenced annulled and thus the Cyprus operation closed.

Some of the unqualified staff moved to India, UAE and other unregulated jurisdictions. Others stayed in Cyprus moving into other salesman roles, using the sales tactics learnt during their week long Malta training course. Normal story, high front loaded commissions with the promise of great returns.

Fleece the consumer - who cares about them! After the operation was unlicensed they still brought over the next boat load of cowboys, one of whom was a used car salesman a month before.