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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

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
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#1113449 Review #1113449 is a subjective opinion of poster.
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

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%!!!
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#1097655 Review #1097655 is a subjective opinion of poster.
Service
Investment Service
Devere Group's reply to:

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

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!
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#929878 Review #929878 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group

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. Caute!
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#822357 Review #822357 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group - Generali Vision Plan Review from Dubai, Dubai

The Generali Vision plan . I signed up for 10 years and on year 6 I moved home to the UK and suddenly found out that I couldn't stop . Then I found out I could get my money out penelty free at least but they still hold onto my first 10 months until the end of the 10 years !! The plan had performed well up until I stopped payment but I think people need to be made aware of the pitfalls . This is what happens when you sit down with a Devere *** . What's worse my friend went to another Advisor and was told all this before she signed up and took a 5 year plan which would have suited me perfect .
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#800594 Review #800594 is a subjective opinion of poster.

Devere Group in Dubai, Dubai - If They're good Enough

There are a few bad reviews about deVere online, most of it undoubtedly by the competition but I am sure at least some of it is from people who have been contacted by deVere. I noticed none of the comments are by actual clients though... hmmm. Much like stating "the steaks at XXXXX restaurant are terrible, as is the service... I mean I've never had the steak or even been there, I don't even know where they are, for all I know XXXXX could be a sushi restaurant, but they definitely offer the worst steaks ever. I know because I read it once online, plus someone I met once went to another restaurant in the same area and the steak there really was terrible". That said there very well may be some clients who have had a bad experience, what do you expect with the worlds largest IFA firm. At the end of the day they are humans doing a job, they won't get it right 100% of the time and not all the advisors will be as focused on 'best advice' as they should be even if they are independent. But my comment to you is this, bearing in mind that for large corporations image is VERY important, if deVere are good enough to be the partner of choice for Goldman Sachs (with all their due diligence and compliance requirements), I'm pretty sure they're good enough for you. My experience with Acuma has been excellent. I have met a few of their advisors and so far they all seem genuine and good willed people. I hope this helps put things in perspective for anyone reading.
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#721463 Review #721463 is a subjective opinion of poster.
Reason of review
Good quality
Tags
  • Acuma
  • Financial Advisor
Devere Group's reply to:

Devere Group - In Dubai

i joined as a consultant with all the promises of contacts, money, visa, training, help and make money in the first 3 weeks max etc etc nothing happened. They do not offer any training or help with anything to get you on your way as a new starter Would not have joined if i was made aware of the lack of the above, it was all false promises/lies all the way through the interview, training and eventually joining Beware if joining, dont join unless you are happy to loose at least £7000, for hotel, food and living expenses, because you will not get anything from devere as promised etc
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#424991 Review #424991 is a subjective opinion of poster.
Devere Group's reply to:

Devere Group in Dubai, Dubai - Spencer Lodge joins Fund Managers

For anyone that has an interest in such matters, this article may be of interest. Mr Lodge has been mentioned on a few forums and so this article caught my eye in the office as I was having my lunch. On the positives, it is good to see that there may be an emphasis on getting well- qualified advisers from the UK to join. That would certainly be a breath of much needed fresh air. I have never heard of Fund Managers or the trade association which seems to represent them and only post this for comment- This is not a complaint http://www.international-adviser.com/news/middle-east/fund-advisers-hires-ex 'devere opinions at - FINANCE-Banks}-lodge
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#388038 Review #388038 is a subjective opinion of poster.
Tags
  • United Kingdom
Devere Group's reply to:

Devere Group - Devere Dubai - Job

A young colleague has been invited to an interview with a recruiter from the DeVere Group in Dubai. Apparently they have a subsidiary recruitement company called Forefront Recruitment that handles the hiring. The interview will be with one of the directors in Dubai and for a 'consultant'/sales role. Has anyone had any experience with this recruitment company that is hiring for DeVere? How to find out if these guys are legit and decent? We have read up on alotof the negative reviews ad complaints about DeVere but would appreciate any info about this recruiter and from anyone who has been to an interview with them.
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#329526 Review #329526 is a subjective opinion of poster.

Contact Devere Group Customer Service

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DeVere Group GmbH
281 Seefeldstrasse
Zurich, Switzerland 8008
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