Reply by Devere Group

All deVere consultants are fully qualified through our accredited CISI training programme. With over 70,000 clients around the world and partnerships with the world’s leading investment firms, we deliver investment opportunities in line with our client’s goals and objectives. All types of financial investments carry an element of risk; our deVere consultants ensure that you are best prepared to give your investments a chance to flourish.
Torrance, California

The STM Malta QROPS that Devere Group are sticking all their clients money in needs to carry a public health warning! If the country you end up retiring to doesn't have a double taxation treaty with Malta you should definitely NOT move or even consider moving your pension here. Implications for you could be immense in being hammered on tax payments when you take drawdown. Did the Devere salesman disclose that Nigel Green has a vested intrest in STM Malta? Probably not, he owns a large part of this company which again wouldn't be in the interests of the client. The funds that Devere will put you in will be FRONT LOADED so you will see your investment drastically fall in value, many of these funds the salesman and Devere get paid much higher commissions on because-they own part or all of the funds.

They will tell you in a well scripted meeting which they learn parrot fashion in Malta that they have over 5,000 different products available, strategic alliances with JP Morgan, Morgan Stanley, RBS, etc.. Does this all sound a little too familiar? We are the largest offshore financial consultancy with offices in over... Different countries, many countries Devere have been thrown out of.

When you become a client of mine here in .... I will personally meet up with you every quarter to discuss any investments you may have through us, depending on your requirements of course. Sound familiar?

Proceed with caution, you don't want to get sucked in to the Devere machine, once they have your money they lose interest. Did Devere ask you for names of your friends? We work on a referral basis?

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Delhi, Delhi, India #614716

QROPS is Very good post, I was really searching for this topic as I wanted this topic to understand completely and it is also very rare in internet that is why it was very difficult to understand.Some link given below you can understand very simply about QROPS - UK QROPS Pension, if you will click then qrops list.

So you would know about my company what facilites provide and how advatntage ful for you.

Haifa, Hefa, Israel #607600

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.


As a very recent Area Manager for this shithole of a company which I unfortunately had the displeasure to work for, I can clearly say that many deVere clients and ex-clients in Brazil didn´t get any service at all for years, lost most of their money and the older clients who had been introduced through Britex (which Nigel Green said it is a totally different company...legally maybe but he was a director for Britex...conveniently left to start deVere...then Britex went bankrupted...) those clients lost tons of money...and the name of Spencer Lodge is always mentioned by these clients...Nigel defends himself saying that Lodge never worked for deVere in Brazil..but he worked for deVere elsewhere and apparently carried on his normal self deceitful style...ANYONE READING THIS DO NOT USE THIS COMPANY´S SERVICE...YOU VERY CERTAINLY WILL REGRET DOING IT.


Thanks so much for this post. There is very good and helpful information in this post. Keep up the good work.

Also go to the link below to know more about QROPS .



I' like to thank everone on here, I have been offered a position with de vere due to start early

next year. Having worked in an around the FS industry fornthe best part of 15 years I value my name and reputation and have never ha a complaint or quibble against any of the advice I have given since day one! I don't think de vere is for me.


One assumes that you are regulated for pension transfers, given your comments. If that is so, isn't it incumbent upon firms like yours to report companies like this AES International to the FSA if they are making statements that they are regulated to provide a specific pension service when it looks, to all intents from what I have just read, that they are not?

Isn't part of the responsibility to clean up financial advice on the shoulders of the advisory industry itself? Are you going to pick up that phone?

As for the firm in Bristol. It is good to hear that they are competent and they do have the licence from the FSA to offer the advice they do. If they are that good, then they should not feel the need to refer to The Costa Action Group in Spain on their front page.

Sends all the wrong messages, I am afraid. Mind you, their website is an interesting read if anyone has the time.

to Comment to Anon in Bristol Alicante, Valencia, Spain #611349

Anybody know what AES International was involved in which would warrant a mention in the posted articles

to Fred Kent, England, United Kingdom #611439

What on earth is the point of that?

If you have a genuine "gripe", then take it up with AES or start a thread about it. I am sure if you look for some gossip, someone will provide it.

to FISHING TRIP Alicante, Valencia, Spain #611722

Tosser. In the trough are we??

to Fred San Sebastian, San Sebastian, Puerto Rico #612851

You come on here, clearly with the intention of discrediting a firm and with no apparent reason for so doing.

When no one plays ball, you toss your teddy out of the cot.


Yes, I agree. Do not believe all that you read on the internet.

I do think however that starting with some paramters on a search is useful. Further research such as have you have done i.e. looking at the FSA register, and actually communicating via email or phone will help you understand the knowledge and expertise of any firm, and help you avoid a deVere scenario.

We are not any of the firms that you mention. We only obtain business through referalls and currently do not play the SEO website game, so we will be further down on any search. The AES situation highlights the danger of taking something at face value. Gerrard Associates are from my understanding among the better specialist UK firms in this area.

We are currently finalising a "QROPS pitfalls" guide, which if you google in a couple of weeks should appear. This will provide a good starting point for asking the right questions in order to obtain the required level of advice.


As a QROPS specialist, FSA regulated, fully transparent, independent and ethical adviser (all the things that DeVere are not)I think it is important to make a point here (I have commented as anon as I do not want to be seen as soliciting for business).

If there is an unecessary tax bill it is not always the fault of the provider. This is an advice issue. A Malta QROPS, whether that be STM or another provider, will generally only accept business that has been advised on (there is still the odd exception where business is accepted directly from a client). It is feasible, albeit unlikely, that a Maltese QROPS could still be suitable for a client who lives in a country with no DTA with Malta, as the suitability will be based upon a number of other factors. Hence the issue here is with the advice.

The deVere model is clearly based upon "selling" a product with no client comeback, and that is clearly not compatible with the complexity of this area. In many instances the most suitable solution is to keep the pension in the UK. This does not result in a fee / commission, but if this is the most suitable solution, then under the FSA treating customers fairly priniples (for FSA regulated advisers) then this is what the client should be told. If a QROPS is appropriate then this may not be in Malta, but it could be Australia, New Zealand, Gibraltar etc.

If you are considering pensions advice and you are not resident please google "FSA Regulated QROPS advice" and only go with an adviser who really seeks to understand you, your objectives, and who can clearly explain the costs, benefits, pitfalls etc.

Doing nothing is quite often the best solution. Please don't be pushed into something by a pushy salesperson with no idea and no qualifications.


Yep but only regulated by the FSA. As devere are not regulated by the FSA (they are not a bona-fida IFA outside of the UK), they can continue to rip off every poor gullible expat for years to come.

Nigel Green would take his own mother to the cleaners but blimey he is a genius to have pulled this off for so long and frankly, there seems to be no stopping him. The man has no conscience.


Unfortunately until QROPS becomes properly regulated by the FSA, these large sales forces will continue to persuade clients (who in many cases have as much knowledge as them) into dangerous and wholly inappriate transactioins. Fortunately I have it on good authority that QROPS will become an FSA regulated product by the end of the year.


I am not going to comment on the company in question.

If an independent advisory firm makes a recommendation for a fund/product/trust structure, then it has a duty to apply "whole of market" principles. This means that the firm will look at the whole market and recommend the most appropriate solution to the client.If it does not apply these principles, then it cannot be independent.

Sometimes, it may be the case that the advisory firm has an interest in the solution being recommended. This can happen if the solution is unique or offers the best guaranteed rates and so on.

Where this is the case, then this vested interest should be disclosed to the client at point of recommendation with written reasons as to why the solution is still in the client's best interests. This will allow the client to raise the appropriate questions and satisfy himself/herself as to the efficacy of the offered proposition.

Applying such principles would ensure that firms do not end up on discussion groups like this.


I had a look and can only see that deVere have shares in STM and many other companies. I have shares in Apple but it doesn't mean I own it.

Thanks Ronnie but not everything you read is true sometimes.

That said I'm still happy I don't work there anymore, true or false the reputation they have on here is terrible. Has anyone that's been burnt written about how silly they are themselves to have not read these blogs first.

to Not Bitter Dubai, Dubai, United Arab Emirates #593131



Does it matter? What is written is true!


I used to work for deVere and left for a new opportunity elswhere it sounds like you worked there too and are a little cynical. Are you a failed employee?


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