These people ruined my reirement.
I deal with one Mark Slevin who sails under the title "Senior Partner" of this disreputable company when he appears on "Linked In" De Vere has a tendency to open and close offices at will without notice which included mine. Slevin was "away on a family problem", and when I tracked him down later told me he would be in the office "early next week".
He wasn't, never returned, and wrote from a phoney Hotmail address which purported to bee de Vere's.
I had told him prior to meeting that if he could offer a better return than the bank on my savings I would consider investing. He sent me an attractive written proposal under which I would earn 10 or twelve per cent per annum. I made it clear I would need to cash the accumulated interest each year to live on.
Without clear explanations he talked me into a portfolio TOTALLY CONTRARY TO WHAT I REQUIRED.
He misrepresented just about everything and told me THREE times I could always "borrow" on the strength of my portfolio on favourable terms.
As I replied each time it was highly unlike that I would need to resort to borrowing considering the return I was getting on my savings.
Of course I realised too late that this totally dishonest, dishonourable man knew precisely what corner he was driving me into but didn't give a toss.
He failed to tell me that I would have to pay substantial amounts for "managing" my portfolio, or that there was a secondary charge for one of the investments. In brief I have been paying to see my savings eroded by one- third over two years.
I may eventually have something paid out but by that time I could be dead. Obviously de Vere just snatches the money from its 'staff" without any checking to see if the proposed investments are suited to their client's needs.
When I explained my dissatisfaction and frustration at my treatment, the "representative" in their alleged customer Care Office" in Barcelona was very terse and told me "This isn't a bank account, you know."
Sadly that's the case. However modest the return, at least I would now have more than I put in.
Not with de Vere's!
Those who are aware of the tricks of the trade about investments manage their own affairs. We who don't have that knowledge pay fat commissions to "Financial Advisers" to ensure that we are given full and reliable information as well as appropriate portfolios.
It would appear that Slevin is not their only disreputable man without a conscience - greedy and deceitful.
On emailing to ask why he had locked me into such a portfolio – over which he never once mentioned "˜capital at risk" - he had the temerity to write back saying "I have locked you into nothing." Some people lie as easily as the rest of us breathe.
Instead of enjoying the fruits of my life's work I am now having to watch the pennies.
People of his character should not be permitted to practice deceit on the public.
It is little more than theft.
Product or Service Mentioned: Devere Group Customer Care.
Monetary Loss: $85.