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Devere Group's reply to:

Devere Group in Dubai, Dubai - DeVere have lost my wife and I a lot of money and caused us a lot of stress

Dear Mr Keown,

Further to your original complaint on Pissed Consumer, we have raised your queries with the respective teams who have both been in contact with you in the meantime. Additionally, external lawyers acting on behalf of deVere Group have also made contact with you in order to give a comprehensive update with regards to the Strategic Growth fund. It is of our understanding that you replied back confirming that the explanation provided answered all your questions perfectly. Furthermore, the Financial Adviser appointed, Rashpal Rani Singh, has contacted you regarding your policy, hence why we now believe that there are no further issues outstanding at this stage. Should you, however, have anything else you would like clarification on, please do not hesitate to contact us again.
Review
#1113449 Review #1113449 is a subjective opinion of poster.
Reason of review
Bad quality
Preferred solution
Full refund of initial investment value for the 2 policies performing extremely poorly plus reparation for loss of gains on the invested value over the investment period, considering world developed mkt. equities have increased by 110% in that period.
Devere Group - DeVere have lost my wife and I a lot of money and caused us a lot of stress

The attached png.-file is a copy of a complaint (Review #1097655), which I submitted on pissedconsumer.com on Sept. 7th, 2017.

I can’t add an update to the complaint/review as I pasted it as a non-member I believe. Therefore I have opened this new complaint/review with the same title and attached the initial complaint/review as a png.-file. My update is as follows: In the response to my complaint Devere Group wrote - "...In this particular case, our dedicated Client Relations Department is now working with the client to resolve any issues they are having, not only with regards to the fund mentioned above, but their whole portfolio." To this day I still have not been contacted by the so called "dedicated Client Relations Department" from Devere Group, nor have I received any further information regarding the Strategic Growth Fund or any other funds under my policies! Furthermore, last week at least one of the policies fell almost 5,000 USD in the space of approx.

a week! The value of that particular policy is now around 16-17 thousand USD into which I had initially invested over 40 thousand USD! Please help me get these guys! They sold me this plan after I had clearly and specifically requested a safe and secure, not aggressive, investment!

My initial intention was to post this update as an update to the initial complaint on your website but I couldn't see how to do this. Best regards, Dallas Keown

Devere Group's reply to:

Devere Group in Dubai, Dubai - DeVere have lost my wife and I a lot of money and caused us a lot of stress

As part of our high-quality service, deVere Group ensures clients understand all details relating to their investments and also provide regular updates on their performance. In this particular case, our dedicated Client Relations Department is now working with the client to resolve any issues they are having, not only with regards to the fund mentioned above, but their whole portfolio. We take all complaints very seriously, so should you have any further concerns, please feel free to email the team again on clientrelations@devere-group.com as they will be more than happy to assist you accordingly.
Review
#1097655 Review #1097655 is a subjective opinion of poster.
Service
Investment Service
Reason of review
Bad quality

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%!!!

Devere Group's reply to:

Devere Group in Dubai, Dubai - DeVere use positive comment 'flooding'

We have no record of any client by this name. If you have a genuine complaint, please email us at clientrelations@devere-group.com
Review
#929878 Review #929878 is a subjective opinion of poster.
Reason of review
parasitic behaviour

A word to those looking for information on scams & unethical dealings by DeVere.They engage in careful content management and 'flood' sites like these with their responses which then rank first....knowing that people are lazy researchers.

Google's own research shows 53% of people do not look beyond the first two responses and 89% do not look past page one. They are 'managing' (read: manipulating) this site to bury their sins. This company is the worst of the worst- incapable of change as the corporate culture is rotten top down to bottom. They do employ naïve & desperate sales people who may appear plausible.

Tough times are coming to Dubai (Oct 2016) - hopefully this parasitic company will finally fold in this time- and never be heard of again.

Caute!

Contact Devere Group Customer Service

Mailing Address:
DeVere Group GmbH
281 Seefeldstrasse
Zurich, Switzerland 8008
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