Reply by Devere Group Jun 12, 2013

Being the world’s largest and most regulated IFA, deVere strive to build strong relationships with its clients. Our compliance team regularly contact clients to answer and discuss any queries they may have, guiding and supporting clients through every step of their investments. Our strong customer support service has been one of the main drivers of our continued global success resulting in 70,000 active clients worldwide.
Author's
Mexico, Capital District
1.5K views 10 comments

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.

Review about: Investment.

Review #326083 is a subjective opinion of a user.

PRODUCT OR SERVICE Devere Group Customer Care
Reason of Review / Monetary Loss Not specified / $85
Preferred solution Not specified

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London, England, United Kingdom #607575

To want to expose bad practice: send the link of this site and threads to everyone you know and ask them to keep sending forward...and just ask people to read and think twice before taking advise from anyone company listed in this site.

Mark Slippery Slevin
#517128

I know Mark Slevin, I personally worked with him in Mexico.He pulled many stunts there which Devere knew about, condoned and encouraged.

This is the world of Devere, this is the Devere experience, albeit not good for the customers because all they care about is maximizing on commissions.

Service is virtually non existent after they've signed all your friends and work buddies up.Did they tell you they work on a referral basis?

Give Me Your Money
#504005

deVere are a bunch of crooks, I know because I work for them.Yes we lie, cheat and steal.

We will do just about anything to take your money because thats how we are trained. Many core people at devere have come from boiler rooms (fictitious companies set up that sell bogus investments, that don't exist). This is where the mentality comes from. Nigel Green now runs a legitimate business but with the old mentality.

Company senior Managers are mostly scam artists. Some of these Managers have been behind bars in Asian countries for dubious activities, they actively front Devere.

Devere is riddled with corrupt, thieving, lying, cheating scumbags.I know because I'm one of them :-)

John Doe
#503946

I worked with Mark Slevin and can confirm he is a complete crook. He screwed many people out of their hard earned savings by putting them into Portfolio's then doubling the commission by putting them in the special deVere funds that never make any money. He is currently facing possible extradition and prosecution from the Mexican Authorities.

Rick's Response
#502846

Thanks for the information. I have copied it to check out the implications. It might well be that they were acting unlawfully in Mexico.

Apart from that should not the company advise its clients that the office is closing? As it happened Mr Slevin was "attending to a family problem with his son in he UK. When I eventually got de Vere to prod him into contacting me he assured me he would be back in the office early the following week. The man must have known prior to his "temporary" absence that he was never returning.

I then noticed "Mexico" had disappeared from the website, as had the Knightsbridge office in London.

No doubt you read about them in the Muscat News?

WHO can exert any influence on them? The Cyprus FSA doesn't care to do anything about them, that's clear from their reply to me.

Former devere
#502837

Actually devere were booted out of:

Germany - back in now

Panama

Switzerland - on final warning while I was based there.

France - back in now

USA - under different structure: devere Inc as banned from entering as devere group

South Africa - back in now

and a few others.

Stuart
#502250

I'm afraid there is no point in writing to my MP since the company scooted out of London to base itself in Malta. It escaped the Ombudsman and FSA. When I wrote to the latter they pointed out they could no longer do anything effective and advised me to report the matter to the police!

Claude
#502174

I have VERY similar experience in Germany.They have lied many times.

They never respond to your mail .They create a new one which eliminates the mail trail.

Fat Frank
#502110

My suggestion is that you write to your local member of Parliament and get them to table something.

Thanks
#499477

Dear Stuart, thank you for this post.

Although it will not bring back the money you lost you can get some satisfaction from the knowledge that i cancelled my plan to invest after reading your thread. My suspicions were alerted when none of the questions I had asked were ever addressed in writing.

I hope others follow this and do the simple thing...talk to your bank manager or friends that have investments.

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