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Devere Group's reply to:

Dear Mr.Morton, We are deeply sorry to hear that you are unhappy with our services. One of our top priorities is to ensure that client satisfaction is maintained. In the light of this, our dedicated Client Relations Department will revert back shortly on a separate...
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Review
#1454485 Review #1454485 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group review in Abu Dhabi, Abu Zaby: Strategic Growth Fund Disaster

As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. However, we do understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Our Client Relations Department is currently in contact with Mr.Bennaceur dealing with his complaint.
Review
#1408874 Review #1408874 is a subjective opinion of poster.
Cons
  • Losing quarter of funds to a scam compared to a ponzi scheme
Reason of review
Poor customer service
Loss
$70000
Preferred solution
Let the company propose a solution
Tags
  • Strategic Growth Fund Scam

In 2010, my wife and I received a request from the DeVere representative handling the account to switch a significant part of the mutual funds we had to a group of new funds. This included allocating a quarter of the proceeds to the Strategic Growth Fund.

Three years later, came the debacle which over the last 4 years became a disaster, as it is now almost sure that we have no chance of money recovery. Therefore, under the advice of DeVere, we lost at least a quarter of our savings.

We have contacted DeVere officially, and their response has been simply shocking, denying first any involvement from DeVere, and when confronted with the facts, recommending to seek legal advice !!!

Devere Group's reply to:

Devere Group review in Frankfurt, Hesse: Suspended Strategic Growth Fund and loss

deVere Group provides expert independent advice to clients all over the world and our consultants are fully qualified financial professionals with internationally recognised qualifications. The client’s complaint was fully investigated in April 2017 and found to be without merit. deVere has no control of the fund mentioned, which is in the hands of court appointed Liquidators and cannot comment on any other individual’s complaints, but can confirm that it has not commenced any compensation scheme for investors in this or any other fund.

Review
#1394179 Review #1394179 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Reason of review
Poor customer service
Loss
$5000
Preferred solution
Let the company propose a solution
Tags
  • deVere Europe

I was advised by devere (erstwhile financial advisers) to invest into the Strategic Growth Fund in 2012 when I signed up for the Generali Vision Plan. I continued to invest a big share of my monthly premiums into this fund. This fund however was suspended in 2013 and my hard earned money is now stuck and the entire plan is under-performing. I can neither stop investing into the plan nor will its performance improve resulting in a massive mess and simply no way out.

I found that devere is now compensating for investors who were ill advised into investing into this fund. What will happen to my investment into this fund?

https://international-adviser.com/devere-pays-70k-strategic-growth-fund-investor/

My Generali Vision Plan number is 94023042

Devere Group's reply to:

Devere Group review in Colorado Springs, Colorado: Couldn't be more dissatisfied

Dear Mr. Hillman,

We are deeply sorry to hear you are not satisfied with your experience. At deVere Group, our aim is to provide expert advice to clients all over the world and we take complaints very seriously. Kindly note our Client Services Team has been in touch with you on Thursday 8th November and advised that Generali require up to date and original signed paperwork to complete the surrender request. Kindly let us know if you have any inquiry or require assistance.
Review
#1390954 Review #1390954 is a subjective opinion of poster.
Reason of review
Poor customer service
Preferred solution
I want what few dollars (Around $2700) are left in my account.

I was lied to by the Devere rep that signed me up. I've lost a lot of money (for me) based on their advice in a fund that was "frozen" for a number of years but my fees still continued.

I've now reached the 8 year point which gives me the right to get out and I've spent 3+ months getting the run around from a Callum Gracie on what was needed to close the account. I've sent in form after form. Waited for undue time for responses. Then told more forms were needed.

Two weeks ago I asked him to clearly and specifically tell me what forms were needed for a currier to pick up. He sent a list and the currier picked them up as arranged.

Today I receive a list of additional forms that are needed. They are either scamming me or highly incompetent.

Devere Group's reply to:

Devere Group review in Doha, Doha: Disgusting thieves.

As the poster has published the deVere response it can be clearly seen that an offer to assist has been made but was not accepted by the poster.
Review
#1356271 Review #1356271 is a subjective opinion of poster.
Reason of review
Poor customer service
Loss
$100000
Preferred solution
Let the company propose a solution

Update by user Oct 20, 2018

Despite the fact that this company eventually contacted me, they accept absolutely no responsibility for their employees not honouring the promises they made when I invested the money. They have offered me no advice despite the fact that they advertise themselves as investment advisors.

I still do not not know where my investments are, the status of the investment or whether they only exist on paper. The local representative says he cannot advise me. No resolution at all. Their reply to me as follows: "All complaints are assessed on the merits and this is done by an examination of the documentary evidence available.

deVere does not enter into contractual agreements with its clients that require deVere to provide an ongoing service to its clients unless required to by the relevant financial regulator in specific jurisdictions or whereby a client has (for an additional fee) requested our enhanced customer service package in countries where this is option is available. As a matter of good practice, deVere does strive to provide an ongoing service when requested to do so by its clients. Their reply as follows: I have liaised with deVere South Africa. When you first returned to South Africa it was unfortunately not possible for a local adviser to provide you with recommendations on an international product.

deVere cannot be held responsible or liable for government regulations and legislation. However, since that time I understand that Andrew Michael has now contacted you on several occasions and has explained to you that you can set up an ownership structure which would enable him to provide recommendations and make alterations to your policy. This is a South African legal requirement. If you wish to avoid paying extra fees, as your contract is with OMI, you have the option to deal with them directly avoiding any additional costs that an ownership structure would incur.

When recommendations are made to clients, several factors are taken in to consideration, for example, the past performance of the fund, the reputation of the fund manager and the underlying assets within the fund and the strategy of the fund. None of this, however, is a guarantee of future performance. There is always a risk element. Please bear in mind that deVere do not ‘Actively Manage’ and cannot make fund selections without first communicating with you and then following through the action with your full knowledge and consent.

The code of conduct read that your adviser “explained to me/us that unit fund values can go down as well as up and past performance are not necessarily a guide to future performance.” I would like to confirm that Brent Mayhew has no connections to deVere and there is no introducer, referral agreement or arrangement between Mr. Mayhew and deVere. If you have any further questions on your policy Mr. Michael will endeavour to assist you, but, with respect, we cannot uphold your complaint.

Please be advised that, if you remain dissatisfied, you have the right to seek independent legal advice. Yours sincerely Juliette Vincent Client Relations Manager deVere Group"

Original review posted by user Sep 15, 2018

I have had an uphill battle with this company without any light at the end of the tunnel. My investment advisor has provided absolutely no advice, my investments have depreciated by over 50% over a period of 10 years and the only solution is to withdraw the funds and take the loss.

Unfortunately the small print says that the funds will only be released once the investments have been sold. So for the next 10 years or so, the management fees and commissions will be paid until I suppose the investment ceases to exist. They should be strung up and shot for manoeuvring behind the smoke and mirrors of their marketing lies. I have subsequently been told that my financial advisor was thrown out of Qatar and the UAE, imprisoned in Oman and has left the company.

Through other avenues, I discovered that he still works for the same company but behind a connect "separate" entity. Perhaps all the people that have been fleeced by this company should pay a personal visit to their offices.

Devere Group's reply to:

Devere Group review: Totally untrustworthorthy etc

deVere takes all complaints very seriously and prides itself on providing a high-quality service, which is why we have a dedicated client relations team. The client’s complaint has been fully investigated and found to be without merit. The client is fully aware of this and has been advised of the local regulator he can go to if he is still dissatisfied with the conclusion.
Review
#1341455 Review #1341455 is a subjective opinion of poster.
Reason of review
Poor customer service
Devere Group review - Totally untrustworthorthy etc

In response to your email enquiring if DeVere have contacted me

De Vere have never contacted ......me other that to sell more investments and the caller seemed to think I had taken 37,000 out of the account rather that the real 21,000 of which 15800 was A pcls

There has never been any contact prior to my complaint

I cannot withdraw any more ( over 5 quarters since last payment because the agent set the payment too high and the account will implode if I withdraw any more ) from the pension. one agent called to sell a qrops to my wife and in response to my problems said this is too complicated. ( email ) I have emails showing that the agent was aware that I wanted a PCLS but somehow the trustee did not get the instruction

The docs sent to my wife show a fact find doc making 2,version one official and not seen before August 2018) and signed by me and one hand written and not seen by me prior to 22 august 2017 De Vere have chosen to use the hand written one to reject my complaint and have ignored all the other entries on the hand written version

Devere Group's reply to:

Devere Group review: Compliance doe,snt exist / qsb 481816

deVere prides itself on providing a high quality service and takes all complaints very seriously, which is why we have a dedicated client relations team. As Mr. Chapman is already aware, we have addressed all of his complaints and produced documentation to support our findings following a thorough investigation. With regards to his wife’s policy, we are unable comment on other clients’ matters. Should you have any further queries, please do not hesitate to contact us at clientrelations@devere-group.com.
Review
#1316367 Review #1316367 is a subjective opinion of poster.
Reason of review
Poor customer service
Loss
$11000
Preferred solution
Let the company propose a solution

De Vere say there has been considerable contact from themselves, if so my letter box and telephone line must be as broken as DE Vere . The one call I have had was to sell more and he thought I had withdrawn 37k , Now I have found my wife (who also is a big loser to DV but offered £500 in respect of possible a 4k loss and which she refused) has been sent confidential documents ref my qrops .

my comments about compliance 30 day cooling off commenced 8th mar but I was supposedly sent it on the 29th mar and there is so much more, it has taken me a long time but I have dug out the emails from the advisor.

question ?

would any savvy investor take on a fund with 5% initial charge and 3.07% annual charges had they known about them I don't think so ! a letter from the advisor says he didn't know of the charges so how then could he have declared them?

Devere Group's reply to:

Devere Group review in Zurich, Zurich: DeVere are very boastful in there claim, but there advisors

Mr.Rauber has been kept updated as and when the fund Administrator issue updates. An update has just been issued and all affected investors will receive copies via their product provider. However, please note a specific communication has now been sent to Mr.Rauber.
Review
#1314364 Review #1314364 is a subjective opinion of poster.

Update by user Aug 27, 2018

As usual deVere are completely in denial on there responsibilities. DeVere have fully miss sold The Four Elements Fund.

I have not been contacted on this matter or been informed of the progress to have this fund released. A personal contact to resolve this would be a start

Original review posted by user Jul 27, 2018

I had as many as 6 advisors and each of them does not recognise the mistakes made by the prvios one.

The customers compliance office in itself dos tel lies, claiming that my pension investment was in profit when in fact it was in a large loss and suspended but deVere is still in denial.

Come on DeVere owe up to your responsibilities and not just give boastful answers

Devere Group's reply to:

Devere Group stole my family's money

deVere takes all complaints very seriously and has a team of fully qualified advisers who are dedicated to providing a high quality service. Having checked our records, we can see that no formal complaint has been made by either Mrs Preston or her husband, who is a joint policy holder. Furthermore, at no time has deVere received any of the clients’ monies, and as per their own admission, the monies were paid to Generali. All the forms and requirements to surrender the product are those of Generali. Mrs Preston has been made fully aware of the outstanding requirements from Generali which were provided directly to her husband by email on 17/07/18. As such, there is nothing deVere can do in this regard until either the client or her husband produces the necessary documentation in full. If you wish to discuss this matter further, please do not hesitate to email us on csvhelp@devere-group.com.

Review
#1305989 Review #1305989 is a subjective opinion of poster.
Product
Generali Worldwide Vision Retirement Plan
Cons
  • Fraud the company is trying to commit against my family
Reason of review
FRAUD
Loss
$105000
Preferred solution
Release of my full surrender value immediately.

My husband and I purchased a Generali "Vision Plan" #94035832 in Abu Dhabi through Devere Group, in July 2013. We are Americans who were both consulting in the UAE at the time.

For the past 9 weeks (starting on 5/21/18), we have been trying to cash out our policy, having been fully paid in all fees and having an account in good standing. Devere Group and Generali REFUSE to release the the full surrender value of our plan, despite us following every ridiculous instruction.

The Devere Acuma group in Abu Dhabi (evalyn.gomez@devere-acuma.com and jason.ambayec@devere-group.com

Tel: +971 2 509 0500, Mobile:+971 52 984 6139) required an ENORMOUS amount of forms and documentation, all originals with original signatures, to be couriered to Abu Dhabi. Evalyn and Jason received the documents, confirmed that the documents were all correct, and stated that they will forward the documents to Generali in Ireland. Then the Ireland HQs REFUSED to speak to us.

They received the documents and claimed that they were not the right documents. They (Thomas at international number 002539060222) further claimed that the plan we clearly have is illegal to purchase in the UAE. Therefore Devere broke the law selling it to us despite accepting our $3600US monthly payments for nearly 4 years. Thomas further stated that "he doesn't care what we were told." I think that is a side scam, b/c they are still asking for a completely different set of documents such as an original active lease, original utility bill, drivers' license, and a certified copy of my husband's passport...ALL TO PROVE OUR ADDRESS is what Thomas said.

I have DOZENS of emails to prove our experience with Generali and Devere. We are initiating a lawsuit against Generali and Devere for refusing to release the full surrender value of our policy.

Devere Group's reply to:

Devere Group review: Totally untrustworthy compliance as i understand does not exist

At deVere Group, we pride ourselves on customer satisfaction, which is why we have a dedicated client relations team. We have thoroughly investigated this complaint and found it to be without merit. Nevertheless, we have had extensive contact with the client to try and resolve any issues and make him aware of his options. If the client has any new evidence to produce then we wold be happy to review the matter again. Should there be any further queries at this stage, we encourage you to contact us at csvhelp@devere-group.com.
Review
#1302411 Review #1302411 is a subjective opinion of poster.
Reason of review
Poor customer service
Tags
  • Qrops An Absolute Rip Off

qrops de vere did not declare the biggest fees and the advisor by his own admission did not know of the spreads , initial fees that The trustee applied . the 30 day cooling off period in reality was 9 days had it been sent. In reality it was sent by email 60 days after the 30 day cooling off period expired. in addition the De Vere advisor falsified my signature no less than 3 times.

De Vere response to that statement was that a international handwriting expert was required

Total loss 11,000 in 30 months, compliance seemed not existent

Nor was the DE VERE advisor truly independent in that he had only high charging funds to choose from