Reply by Devere Group

As the most regulated independent financial consultancy in the world, deVere Group strictly adhere to international regulatory laws. By partnering with some of the world’s most respected investment providers, deVere are able to provide clients with trusted financial products helping them to achieve their financial goals and aspirations. Working in financial services can be hard but very rewarding; we provide full training turning our advisers into fully qualified financial planners gaining CISI qualifications.
Author's
Paris, Ile-De-France
1.1K views
12 comments

Update by user May 28, 2013

I have read the reports about De Vere's losing a court case against against a certain "gripe site".The fact is, if they addressed customers' complaints the customers would not be pushed to this last resort of posting on the site.

They have had the cheek to try to contact me through the site - well, if you are reading, De Vere, I already outlined my case in a detailed letter, most of whose points you ignored, replying with a standard letter that said the money markets went down in 2008. Most importantly, it ignored the illegality of the Spanish adviser selling a policy to a French resident when De Vere was not licensed in France at the time. I have also talked at length to the new adviser assigned in France, who has now (surprise, surprise) left the company. Back in 2008 I had a lengthy conversation with an aggressive manager in Zurich who took no responsibility for that adviser's unethical conduct.

Start by looking through your complaints files and offering some genuine redress to the people you have wronged and then you won't have to deal with attacks on the company's reputation!You will also find that, far from being lies posted under cover of anonymity, these are genuine stories that a look at the customers' records will corroborate.

Original review posted by user Oct 10, 2012

I was cold called after my father's death, and pressured into investing inheritance in off-shore life assurance wrapper.The adviser recommended terrible funds, took his commission then went AWOL during the financial crash of 2008.

After his mysterious disappearance DeVere took months to assign me another adviser by which time funds had gone bankrupt or were in suspension. I've lost about £50,000. I'm resident in France but they didn't have an office here at that time. The adviser was in Spain but got me to sign a form saying I'd been given the advice in Belgium.

Their website lists regulatory authorities but which one would this be under: France, Belgium or Spain? Or their main office in Switzerland?

Also very concerned about their QROPS scheme which I am also in.

Victims of DeVere need to get together, pool resources and information.I am planning to set up a meet-up group in Paris.

Monetary Loss: $60000.

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Comments

Noneeded
#607595

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. Buy list of emails in the net, there are reasonably cheap and may help you to reach an incredible number of people in one hit.

Anonymous
to Noneeded #657200

Devere's own UAM Fund with $50 M of their client money has been frozen because of *** poor performance due to the fact they were taking 7% on top of 8% for the Bond wrapper. I also saw that Nigel Green put this fund in his gf's name- Bev Yoemans who says on LinkedIn she is Nigel's secretary.

Search International Advisor $50 Million deVere UAM Fund frozen. Client money trapped in a lobster pot & Nigel Green has just set up another one called Titanium Fund!!!! This man needs to be held to account along with his thuggish Managers.

Where is the consumer protection?????

Anonymous
#583054

Guys, get over to linked in, British Expats group. Very lively thread about deVere Group

Anonymous
#572116

Similar thing happened to me.

I am so upset with myself by moving my small Standard Life pension out of UK.

How could I have been so stpid and taken in??

I will be retiring in a few months time after which I will use all my time to tackle this scume outfit.

I have been making complaints for three years including FSA and the Obudsman but no joy.Now back in Dubai and am looking to make a complaint here, if I can find someone to make a complaint to?

Anonymous
#564074

To all above we too lost in bad investments

most of our pension out of £200,000.00 invested

there s about £40,000 left thats with out there fee s at. Please tellme how I can contact the others so we can form a group to get something done about these people someone out there must be able to help. we are just ordinary people worked hard and were taken in by Mr Spencer Lodge he even wanted us to re morgage our house thank goodness we did nt or we would have lost that as well

Anonymous
#560900

Please be aware that devere are actually providing a service mostly with reputable companies however they do lack financial knowledge which led to you losing a large sum of money. If you are dealing via generali, skandia, royal london etc you are entitled to switch the plan free of charge to any other broker. Please ask for a referal who works with this company to make sure they will benefit you and ask to see his financial credentials.

Also in regards to qrops this is a very different concept and you should look into this fully to ensure you will not be breaking any laws and to see if it really worth while as most of the time it is not.

I hope this has been helpful should you require any further information, I would be only glad to help.

Anonymous
#556503

yes , excellent sensible advice from Report it.Hadley, venting helps, I know.

They screwed me too. But we really got to go after them, even if it means spending some money on lawyer fees. Have you actually lost the 50K or is it stuck in crappy investments a la Devere Group GmbH.

What did they sell you...sorry what did they do with your money.

Anonymous
#555622

Thankyou especially to 'Report It' for the instructive advice.One question about regulation, however, is if the advice was given by telephone does the country you were in when you received the call constitute the country in which advice was received?

It's hard to prove, but as it happens I was in the UK when I received this telephone advice.The best idea seems to be to complain to every country involved in this complicated affair.

Anonymous
#555596

www.international-adviser.com/video/ia-videos/international-insight/nigel-green-from-devere-interview-part-2

Anonymous
#555430

You owe it to yourself & everyone else.

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