Reply by Devere Group May 29, 2013

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 contacts our clients to ensure that all deVere Group procedures have been carried out according to company policy. With over 70,000 clients and $9 billion under advice and management, deVere Group are confident that only the very finest financial advice is provided. All deVere consultants are fully qualified with a CISI qualification in wealth management.
Author's
Melbourne, Victoria
1.2K views 50 comments

So, you've been recruited by a so-called independent offshore recruiter and he promised you a world of fame and riches. You can't resist and you are on your way to a presentation in Knightsbridge for one of the biggest Offshore Financial Advisers in the World. It's a dream come true.

Now, it wouldn't be fair to tell you everything at the presentation. You might be told enough to get your juices flowing. Most of the fine details arrive when you get to your destination.

But behold. I can help. Here is a guide based on information recorded during the "˜Offshore Adventure':

Self employed-of courseCommission Only-naturallyYou will need to find and pay for all your travel and accommodationYou will receive roughly 50% of the commission, but of course, this doesn't include any over-ride, so in reality, you will be lucky to get 40%.You normally pay your co-ordinator 20% of the commission (whether you have one or not!)You pay for 50% of your coordinators accommodation-although this might be shared by a couple of advisers so 25% eachYou pay an additional 5% of you commission away in the first few months until you bank 60K to repay your training costsYou pay a further fee from your commission to pay for the office costs such as telephones and paper etcYou will be expected to find data, i.e. names of people to call and then cold call them if you don't have a coordinatorYou will have to bring your own laptopYour destiny is in your hands-of courseThis is based on information obtained in 2009 and therefore, may be subject to change without notice and is a guide only.

The commission structures vary considerably amoung firms but one thing to consider, you will almost always be commission only and self employed and rarely do you get a cut of the full commission the firms recieves, no matter what they tell you….

Review about: Training Course.

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Comments

Noneeded
#589364

Get a life people.There is not much point in carrying on talking about IFAs.

The real point is, what kind of people want an unqualified and an unregulated service which will be dealing with your MONEY, very likely will provide you with an advise that even a monkey could reach too? Only *** people! The same goes for those who work for this kind of company. Nobody needs a IFA.

If you want to invest your money? Do your homework and find a top bank or financial institution and they will help you.

Bear this in mind - these organization will have QUALIFIED advisers.So if you put your money through a IFA and get a bad service and poor return - don´t complaint because you are the only one to blame!!

Independent professionals?
#527303

The world largest INDEPENDENT IFA?

Devere own its own life assurance firm that flogs cover to its own clients.

Devere CEO is a shareholder in at 4 investment funds sold heavily to Devere clients.

Devere owns its own recruitment company that claims to have no affiliation with the Devere group

Devere has many DIF funds i.e ‘distributor influenced’ investment funds that pay higher commission to promote them.

Devere have its own fund supermarket with mega high charges and promoting its own funds which have a very limited track history and are part owned by the Directors of Devere.

Devere have stakes in a number of other offshore IFAs that promote its DIF funds for enhanced commissions.

How can Devere do this – because they are not a proper IFA no matter what lovely marketing and endorsements they propose.

Yeah, these guys are a real professional outfit!

Panorama-Devere Stole My Pensi
#527199

Just google-Devere scammers, Devere conmen, Fraudsters, Simon Pratt Devere Director on the run from Hong Kong Tax Authorities, who Stole My Pension BBC documentary about Nigel Green (Devere Group).

There is so much negative information about Devere, if they are a professional company doing things right why oh why is there so my derogatory info about them all over the internet not just on consumer websites. Please try and defend that last statement. You can't it's impossible.

List of ***s
#526784

Add these scammers to your list.

Philip Roberts

Paul Thompson

Toby Williams

Ian MacKintyre

Simon Pratt

Nigel Green

Scott Cunliff

Miyaruman
#526764

I was just contacted by a deVere representative here in the Philippines. What got to me is how the managed to get my cell phone number?

- For over a week this guy has been calling to setup a meeting and of course I gave in cause I just don't have the time for arguing.

- A couple of days before my wife and I were talking about having a college fund and pension scheme

- the guy presented himself pretty well, though when somebody shows me figures he that he downloaded of internet, as well as blown up pictures of famous people with quotes... it sounds like the Nigerian prince that needs your bank account

- I listened to him and said that I would get back to him... wasn't convinced at all.

THANK YOU for forum repliers - my heart goes to all of you who hadn't had the luck the were expecting

me
#439500

the list goes on, lets keep it as complete as possible to ensure someone googles these names they find out the truth:

- Malcolm McDowell - one of the pushiest of all "advisors" of devere

- Halligan, Deirdre

- Rebecca Baldacchino

- Nathalie Bellizzi

- Ione Bezzina

- Rochelle Camilleri

- James Rawson - he was not there for long

- Siffat Shah

me
#410760

add Jonathan Wookey to the list of bastards at DeVere.

cape town south africa
#341809

listen guys, some people seek to attack the vuneranle.If you are down on your luck, need a job and desire riches then please dont thinkl of this as an option.

If you think that cheating people out of there savings is a way to make a living then i can assure you it will only leave you feeling empty inside. Devere does not care about you and they do not have an oportunity. Craig featherby who heads up the south africa team is a very wealthy man, big house, nice cars, shiny suit............. he has a problem though, he is a social outcast because he has cheated so many people who work for him.

It is pointless having cash in the bank if you cant go anywhere and enjoy it.

Best advice you could take is dont go on that training course with the attitude that you have nothing to loose !!just dont go

Ken
#336661

Take note these people are now advising on UK QROPS pension transfers.

If aproached by them you now know what to do!

MathGrad
#318512

Dammit!! I thought I had a job! Better keep searching then!

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