Devere Group's reply to:
DeVere Group: the Truth. From their former Area Manager in SÃ£o Paulo, Brazil
So far, I have seen many complaints against deVere Group but unfortunately many of them are from anonymous posts. However, this time, the post will be from a former employee which witnessed the true reality of this company and paid the price for having my CV and career completely tarnished.
In the post I will be bringing a series of REAL LIFE cases of clients from this company who lost a lot of money in their investments. Most of these clients did see or spoke or where contacted by some from deVere for years...when I took up the role I decided to contact all clients totally unaware of their their situations...went to meetings and suddenly I found myself in situation in which I was called dishonest and deceiver for these people...I immediately reported the situations and got...well, nothing but an email from Mr Nigel Green himself calling me lazy for not closing deals...
In the years I have been working in this field in Brazil I have to say without a doubt that IFAs with very very few exceptions of professionals are a bunch of very untrustworthy people. They are not professionals in finance - specially the English contingent who are average guys, determined to make money! Not advise anyone! simply because the great majority is looking to stay around for a short period of time so they will advise on anything that can give them best commission possible...
In the case of deVere - kicked out of Brazil twice and their 3rd time lucky attempt they hired me, never mentioned that the company have tones of clients (more like ex-clients) who lost a lot of money. They pay the worst commission in the market and clients who invest through them in the fund platform or structured notes - well, they have to be very uninformed people because deVereÂ´s platform is very expensive and their structured note has a 4% upfront commission...when I showed this option to a well respected asset management firm owner in Brazil he literally laughed at my face and said NOBODY in the right state of mind will ever pay this. I myself charge 1% and there are options without no charges...that was the first alarming bell ringing in my head...that was just the beginning!
I hope to hear so feedback on my posting and I will be continuing with more evidences on deVere Group in few days.
Regards to all