Reply by Devere Group

We are not a scam company, we are a regulated financial consultancy with over 70 offices around the world. Whilst it is common knowledge that the financial markets rise and fall, our advisers are best placed to help clients grow and protect their wealth.
Author's
Toulouse, Midi-Pyrenees
1.2K views
12 comments

Unsolicited Telephone call addressed to me direct and personal.

After listening to extended spiel on financial advice, which sounded highly suspicious, asked for company details, but gave none of my own personal details.Caller gave some details, company name, location but no address, enough for me to identify them, but tone changed immediately.

Website looks genuine, but there appear to many complaints of 'Boiler Room' type scam in operation.

Advised caller 'We often take action against companies making unsolicited calls ...' Caller said 'We will remove you from data base ' Caller rang off.

Strongly advise against getting involved in any way with this organisation.

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Comments

Anonymous
#722398

People probably write comments in the same fashion because their personal experiences were very similar. I would say "reoccurring theme" would be much more appropriate my dear.

What is worse, Nigel Green selling his own non performing funds to unsuspecting clients (that in some cases lock down & loose clients millions) when they claim to be independent. Breaking all the rules (employment/immigration) in many if not all the countries they operate or people coming on here talking about their experiences with deVere? Hopefully this will give a more balanced approach so consumers don't just see the 'glossy website' & get taken in by deVete sales scripted meetings.

Severe are a dishonest company, dishonest with their staff & dishonest with their clients- I rest my case!

So there you go Jan Crosby (deVere recruiter) I've given you some 'same fashion' to wet your appetite. :grin

Anonymous
to JanDaSpam Solihull, England, United Kingdom #724651

I am Jan Crosby and I don’t work for deVere at all you ignorant fool.

Your name JanDaSpam is clearly your adult way of actually revealing who you actually are? I think not! JanDaSpam my 4 year old daughter has more intelligence than you clearly as you have wrote this in the same fashion as all the other recent negative posts. Your clearly one of them people that hide behind a fake name.

All I was doing was saying my adult view on all this.

Anonymous
#718373

** Hi there! Google has brought you here because of the extensive comments section, which is full of stuff about the activities of the DeVere Group of Financial 'advisors'.

This company is like a chameleon, changing it's name in an attempt to camouflage adverse publicity regarding their a 'activities'. 

Former company Names include Britex international deVere & Partners now the deVere Group. 

In fact, this post has become one of my most popular of all time, because some commentors have said that in many of the internet places similar information has been posted, lawyers from The Group have shut them down. That has not happened here, and I certainly have not experienced anything consistent with such rumours.

So, go read the comments, and feel free to post new ones. If you're interested in Oman, read some other stuff, or even 'like' Muscat Confidential on facebook! **

It's a slow week.

But common knowledge is that local franchise of Global Financial Advisory Giant DeVere Group were totally busted by Inspector Al-Plod a few weeks ago for running yet another Ponzi scheme we caught too late engaging in investment activity beyond the scope of their license.

Those with children at Muscat British School Muscat probably already knew things were afoot with DeVere. And my sources confirm that the local Omani sponsor of the franchise was also taken into custody to, ahem, "assist with inquiries".

It does however, seem...

Really. 

That the problem with the local outfit here in little ol' Muscat had been generating a strong enough stench to cross oceans was obvious.

That the guy DeVere Central finally sent out here to "sort it out" on the QT, one Mr. Brent Mayhew, was subsequently temporarily arrested and thrown in detention for a few days, was unfortunate to say the least. 

Oops.

Next time chaps, maybe try first engaging with the local ROP/Ministry of Commerce/CBO beforehand ? They can and will help. 

That the Omani "sponsor" [he cannot be named, even here at recently blocked MUSCAT CONFIDENTIAL, because of media defamation laws, sorry*] was also totally busted is a great sign. We don't like Ponzi schemes when you get caught.

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Anonymous
Solihull, England, United Kingdom #717155

Is it me or all these people who post negative words write comments in the same fashion as all the others? I think not, I think it’s the same person time and time again with a clear jealousy problem trying to create negativity.

If people are like I don’t believe the hype pick up the phone and make a phone call if you have doubts, but I don’t for one second think all the slander you read about deVere is truthful.

Anonymous
to Jan Crosby #791694

Jan Crosby,

what you read on this forum is the tip of the iceberg.i wouldn't leave a rescue dog in the same room as the *** that own,operate,run,manage that group of companies.AND THATS A FACT!!!!!!!!!!!!

Anonymous
to smoke blower #791750

Ex-clients quizzed in probe of deVere :grin

Former clients of the world's largest Financial Scammers firm, deVere, say they have been contacted by Hong Kong investigators probing possible regulatory breaches in a move that comes as the firm embarks on a major expansion in the city.

The former clients told the South China Morning Post they had been contacted by the Confederation of Insurance Brokers (CIB), which regulates the sector, and questioned about the products and services sold by the firm and the representatives selling them.

The news comes in the wake of a Post investigation which revealed in October that deVere, which controls US$9 billion of assets worldwide, was facing down accusations of mis-selling and bad practice from former clients and employees.

DeVere has obtained injunctions on two former employees to prevent them talking about the company.None of the material in this article comes from those former employees.

DeVere has been without a chief executive in Hong Kong since September last year and the CIB has declined to license any new front-line staff to sell insurance while it has been without one.

Search "Devere Scammers" on google and see how many blogs Nigel Green and his tech boys have put up in a bid to deflect the truth. Devere even registered www.deverescam.com ha ahhaaa haaaaa..

You have got to laugh at that....

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Anonymous
#716733

I have had the unfortunate experience of working for DeVere and I would warn anyone considering joining them, not to! 

I am a fully qualified UK IFA and I know that people have been suggesting that the DeVere staff are not qualified and are ex car salesmen etc, but at the recruitment stage, DeVere promise to provide full training for all staff. Therefore, it is not the fault of the individual who is applying for the position and hoping to make a living for themselves in a new career. It is that of DeVere who are falsely promising to proivde that individual with the knowledge that they require to fulfil the job role. 

Like many of you on here, I was told that I would have appointments made on my behalf when I started working for DeVere. Unfortunately this was not the case. In fact, the only person who had a coordinator at that time was the manager! After working there for a few months I was advised that my coordinator would be arriving, but I had to pay him half of the money for his flight as well as a monthly fee which went towards his living expenses. This was not dependant on any deals being made and was in addition to his share of commission on any deals made.In my experience, I was told that the coordinator was my responsibility i.e. for me to support financially, but when DeVere wanted to make changes to coordinator/consultant partnerships, they could do that without discussing it with any of the consultants.In other words, the consultant...

My manager was completely unhelpful from start to finish and when asked for advice all that he would tell staff to do was to follow the DeVere script. In fact, on the very rare occasions that he did provide help, he told people to sell products that were not the most suitable for the clients anyway! 

To survive in the Devere minefield, you have to be a certain type of person with the ability to survive in a cut throat sales environment and with no morals when dealing with peoples' hard earned savings! 

If anyone from that company every approached me I would not touch their products nor would I recommend their products to anyone else. Furthermore, if anyone would like to have advice on whether they should go for the DeVere interview, I would strongly advise that you reconsider your options. They will promise you the world, allow you to move yourself and family (If you have one) to a foreign destination and drop you like a ton of bricks if your face doesn't fit, without even providing any proper training to allow you to excel in the job.

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Anonymous
to Oldmcdonald Aberdeen, Scotland, United Kingdom #718319

Totally agree. I was with them for a while as well. Its hard core sales at the end of the day which isn't a bad thing, however the recruiters are not exactly open and honest with the facts when they are trying to collect their £500 by getting you on the training course in Malta and the trainers aren't completely open and honest because they collect £500 when you arrive at your destination...its a revolving door recruitment policy so nobody really gives a *** if you stay or leave at the end of the day. For every 10 new guys that come in 8 will leave within 6 months either due to running out of money or from not having the correct training and support which normally leads to running out of money anyway!!

You arrive at your destination after maybe a 30 minute chat with the manager by phone and if you are lucky he collects you at the airport or most likely sends the latest new guy before you to pick you up, take you for a beer and then expect you to be in the office for 8am the next day for a one hour briefing and then to hit the phones booking your meetings.

I used to laugh (and feel sorry) every time a new guy arrived asking when his first meeting is going to be....we were all sold on the 10 appointments a week dream, close 2 a week and its £200k a year....unfortunataly most go back in a bigger financial hole that when they arrived and many others develop drug or alcohol problems as a result of the culture and wanting to belong...

Anonymous
Nuremberg, Bavaria, Germany #714684

'According to the DeVere website they run offices in Nice, Paris and Toulouse.

However - even though my French is a bit sketchy, therefore anyone with decent FRench please verify this - the public registry in France shows DeVEre France only as insurance intermediary - I could not find any source that allows them offer investment advice in France based on French license. Please check here yourself: https://www.orias.fr/web/guest/intermediaryDetails

They do have some passporting rights from the British FCA, but only for cross-border services into France (check the FCA registry yourself under passporting rights). Therefore I can't see under what legal umbrella of licensing they can offer investment advice/financial advice other than insurance advice in France.

In my experience it is best to report such cold-calls and questions about the legal status to the local/natioanl authorities because these companies love to play a confusing game of license registration that does not fit the legal reality.

Cheerio

Anonymous
to Starshollow Frankfurt, Hesse, Germany #718039

HI SS,

I see you are looking at their French operation now. I have been following your posts on various sites and like what you are doing. Keep up the good work.

As an FYI - don't forget that Devere were thrown out of France several years ago. They had an admin and customer services centre in Nice whilst training was carried out in Monaco. The office manager at the time spent a few days in French clink as a result.

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