Reply by Devere Group

As one of the most regulated IFA’s in the world, the deVere Group strictly adheres to various international laws and procedures. Our compliance team regularly contact clients to ensure that all deVere Group procedures have been carried out according to company policy. As a result we urge all our clients to carefully read and understand all paper work provided, asking any questions you feel are necessary for you to fully understand the terms and conditions of a perspective investment before signing any paperwork. Regular savings plans are generally medium to long term contracts and not suitable for short term saving. If a client is saving for their Children's Education or Retirement, Regular savings plans can be excellent vehicles. 
Author's
Moscow, Moscow
1K views
6 comments

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.

Monetary Loss: $10000.

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Comments

Anonymous
#656786

We are the best financial consultancy in the world.

My boss Nigel Green is my best buddy. Yes, I sell his locked up funds that pay us 7% up front commissions & I don't tell the client that it's a deVere fund. It's the clients fault for not doing their research & believing me at face value.

I was flipping burgers at MacDonald's in Sheffield before someone told me I could earn £50,000 in 10 weeks with deVere. I had 1 GCSE to my name after I left my special needs school.

The bus would pick me up every morning at 8.00am.

Nigel made my dreams come true, he is a good man. I love working for deVere & telling people about our structured notes that I don't even understand myself :x

I love going out with my manager after I've sold a 25 year Generali plan that's earned us all loadz of commissions...

UAM so happy :grin

Anonymous
#654212

Devere's CEO is on YouTube saying that 99% of online complaints about the company are rubbish and refers to one particular ex-employee who has written lots of things, all of which he says are not true. But he does not contradict the allegations specifically or make statements to which he could be held.

Anonymous
#653999

Name and shame him... Maybe his next victim might be lucky enough to do some due-diligence and not get stung like you did.

deVere are trained to lie, cheat, thieve. This culture comes from the very top echelons and is embedded withing deVere culture. I personally know of a couple of deVere Managers who ran a boiler room scam (were looked up abroad) before going to work for deVere. It seems this was crucial in why they went to work for deVere & became successful.

Search deVere scripted meetings, you will know this already word for word. This is what you heard from your so called IFA in your 1st meeting!

It's on this website, take a look.

Now you know you've been scammed by deVere!

Anonymous
Torrance, California, United States #653657

Report them to the Federal Financial Markets Service.

Anonymous
#652973

Good luck with the legal recourse as it's certain you will get none. DeVere change their HQ address every couple of years. Their legal department exist only to bat away all complaints, and to intimidate any victims that persist in pressing their claims.

Anonymous
Kiev, Kyiv, Ukraine #652970

De Vere consultants are interested in selling 25yr plans only - as these pay the max commission.This is fine if it's the right term for the investor in question but no use if the client has a much closer need for the savings.

The de Vere consultant is trained to lie to the victim.

Most clients believe that they actually have access to their full savings after the 'initial period' but then find out that they were duped into a 25yr term.De Vere will never issue you with copies of the paperwork signed, as it will have been altered.

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