Devere Group's reply to:
Devere Group - DeVere have lost my wife and I a lot of money and caused us a lot of stress
deVere has lost my wife and I a lot of money and caused us a lot of stress.They convinced us to purchase policies with a large portion of assets under the Strategic Growth Fund.
Need I say more? These assets are now frozen (we were not warned in time to pull out in time like many others were) and if we surrender the policies we will forfeit the frozen funds and be charged a ridiculous "early surrender" fee which we were initially told will only apply if we surrender in the first 7 or 8 years, which have now passed. If that is not all bad enough, we were initially told that there are ongoing fees associate with having the accounts, but not exactly how much. We were lead to believe that these fees were not very high.
Now, after so many years or poor performance (more or less constantly, not just during the financial crisis or other generally accepted poor periods), we have now finally found out from one of deVere's competitors (not from deVere themselves, who we had asked many times but who avoided the question), that we are paying 4.64%/annum, 2.78%/annum and 7.14%/annum for the 3 policies!In the 10 year period that we have been losing money with investment sold to us by deVere, world developed market equities have risen 110%!!!
Review about: Investment Service.
Reason of review: Bad quality.