Reply by Devere Group May 29, 2013

With 70,000 active clients around the World, deVere Group prides itself on offering some of the most trusted financial advice available. All consultants receive comprehensive training which not only gives them the industry standard qualifications required to deliver financial advice, but also enables them to accurately determine the goals and aspirations of our clients. deVere strictly adhere to international law, ensuring that all consultants have the correct paper work for the jurisdiction they choose to live and work in.
Author's
Madrid, Madrid
7 comments

A scammer 'Richard James' cold called me this evening, the usual BS script & offering a home visit, a typical boiler room jockey or worse. a b c d e f g h i j k l m n o p q r s t u v w x y z a b c d e f g h i j k l m n o p q r s t u v w x y z a b c d e f g h i j k l m - enter at least 100 words, WTF 1 2 3 4 5 6 7 8 9 0

Review #394612 is a subjective opinion of a user.

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Cyprus regulated adviser
Nicosia, Nicosia, Cyprus #655249

Nigel - the guys in the Limassol office are presently trying to apply for a direct Cyprus licence.Please email your details and complaint to , insurance@mof.gov.cy., call on 22602990, fax: 22302938.

The Insurance Superintendent needs to understand how these guys operate. If they have not put you into an insurance bond first (either with Skandia or Provinence - where they take 8% commission) then they are in even bigger trouble. They are telling clients that the 'licence is in the post' and 'it'll be here on Monday'.

They have recruited the new wave of fodder into Cyprus even after the Belgium licence was annulled.Awful.

cold calling
#628112

they even cold call in Germany, where it's illegal and can carry a fine of up to 50,000 euros

Bogus financial awards by deve
#628103

Don't be fooled by the ones that put CII (chartered Insurance Institute) after their name.They are deliberately missing out the (award) part in brackets on the end.

This is just an award and membership for 'non qualified' advisers.But hey it makes them look like real IFAs.....

kev
#627886

Aww, what you complaining about? Count yourself lucky on getting a call from someone who, according to Linkedin, is an "account executive" who used to work in holiday promotions, as a waiter, in timeshare and as a football coach.

Nigel Grey
#627220

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.

I've since found out that Nigel Green has done a runner to Malta. Look up devere stole my pension, the BBC Panorama documentary about one of the many companies Nigel Green is behind.

bogbrush
to Nigel Grey #628229

i am of the opinion that firms operating in the offshore financial services industry only do so as the regulation / system allows it. this leaves devere, as the largest in the field, being open to criticism when sometimes it is not justified.

in this case, if the sales brochure has not described the risks attaching in the correct way then is there not an question for Premier to answer about misrepresentation. also, was any complaint lodged directly against the regulators concerned?

Starshollow
to bogbrush Munich, Bayern, Germany #655756

that is not correct. They bend and break the laws and regulations left and right and just bank on the authorities to be too slow to catch up.

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