Reply by Devere Group

deVere Group are proud to offer industry standard qualifications to all new recruits who train with us. This has been the driving force behind our continued global success resulting in 70,000 active clients around the world. The financial service industry is not suited to everyone as it requires long hours and hard work. But by working hard, being honest and offering sound impartial financial planning to clients, you can create a very rewarding career for yourself.
Author's
Pasig, Manila
2.3K views
19 comments

yeah, the recruitment process is all a lie... i was a recruiter for them in manchester...

we were given a sales pitch to say down the phone to "sell" the job. we were even given sales training. Yep you get a basic salary, but only for a maximum of 3 months... we are not allowed to tell you this.

We are not allowed to "recruit" people in for a presentation from certain nationalities or with accents. you cannot got to any location you like... they will sell to you the location they want you to go to. You do have to pay office costs, we say you don't but just wait until you get your contract at the end and read the small print- you have to pay for all your phone bills, furniture, rent, coordinator costs- yeah you have to pay if you WANT a coordinator.

We told you you get a coordinator as soon as you get there... no you don't- you have buy one.

We tell you we cover the costs of your qualifications- no we don't, it is clawed back through your commission. We told you the commission is uncapped- it is capped in certain locations- 10k in the first, and increases year on year...

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Anonymous
#644985

devere get around the cold calls by withholding their telephone number. It is almost impossible to prove you were cold called so that how they get away with it. Easy!

Noneeded
#607590

To want to expose bad practice: send the link of this site and threads to everyone you know and ask them to keep sending forward...and just ask people to read and think twice before taking advise from anyone company listed in this site. 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.

Starshollow
Munich, Bayern, Germany #594698

@ Andy

Quote: Being such a large firm they follow a huge number of regulations across the globe, and will always make sure they follow the regulations to the hilt as it is not worth it not to. These regulations are certainly not easy to obtain and very easy to lose. I think anyone reading the extraordinary allegations on this site should bear that in mind

This is total nonsense - they do not care about regulations, at least in Germany and Switzerland they don't, nor for the most simple and basic consumer protection rights. In Germany their activities are entirely illegal because they are not licensed to offer insurance and investment advice in Germany and passporting rights do not apply - especially not if your comission based salesmen (they clearly are not advisors) are not licensed either. In Switzerland disgrundlet clients already have received confirmation that DeVere holds no license to operate as financial advisors.

I can't speak for the rest of the world, but these rules and regulations both in Germany and CH are easy to get information about and not too hard to obtain if you play by the rules.

In short:

1. DeVere violates the German cold-calling laws in full knowledge of them violating the law

2. DeVere and its local advisors are not registered nor licensed to offer financial or investment advice in Germany. The claimed to be passporting under IMD rules from Belgium in the past (see old DeVevere documents and pamphlets but the Belgium authorities have stated that this was never the fact, they never gave passporting right for Germany to DeVere. And passporting is only an outbound activity and does not cover setting up local offices with local advisors - these all fall under the local rules and regulations

3. DeVere does not disclose their status properly upon first contact a is required in all European directives to this regards. Nor do they disclose in full EUR the costs of the insurance and investment products sold already with the quote, as is also required by law (because nobody would sign a GENERALI VISION plan if the costs would be stated clearly). They do not ascertain the financal status of clients properly and their experience in investing - also required under consumer protection laws in Germany and most regulated countries.

Such a blatant violation accross the board knows no excuse - it is a willfull modus operandi to violate the laws and consumer protection rights. And then Nigel Green says in a video when asked about the countries they were evicted from: oh, who can now all these different regulations in the different countries?..... are you kidding - if you run a decent business, this is the first you care about.

But time is running out on you guys now in many countries....

Anonymous
to Starshollow #619553

Oh dear, another clever post loaded with inaccuracies.....

Anonymous
to Starshollow #658189

Great post & all true. We know deVere have been violating all countries laws that they operate in. Someone should be going to every country they're active in to see the regulator armed with all the info about their unscrupulous activities in Europe.

I know in Asia they are breaking employment laws amongst many other laws.

How do I know? Because I worked for them & know they give out fake work permits in one country. :zzz

Anonymous
Dubai, Dubai, United Arab Emirates #593128

Spot on mate. I didnt fail Devere, i left because of their Bullshite.

Its like the blind leading the blind, you give your money to people that dont even know what Index's are or what the FTSE 100 is. IVE SEEN IT FIRST HAND.

Its a joke. Nothing more to say.

Noneeded
#589369

Get a life people. There is not much point in carrying on talking about IFAs.

The real point is, what kind of people want an unqualified and an unregulated service which will be dealing with your MONEY, very likely will provide you with an advise that even a monkey could reach too? Only *** people! The same goes for those who work for this kind of company. Nobody needs a IFA.

If you want to invest your money? Do your homework and find a top bank or financial institution and they will help you.

Bear this in mind - these organization will have QUALIFIED advisers. So if you put your money through a IFA and get a bad service and poor return - don´t complaint because you are the only one to blame!!

Noneeded
Zurich, Zurich, Switzerland #589368

Get a life people. There is not much point in carrying on talking about IFAs.

The real point is, what kind of people want an unqualified and an unregulated service which will be dealing with your MONEY, very likely will provide you with an advise that even a monkey could reach too? Only *** people! The same goes for those who work for this kind of company. Nobody needs a IFA.

If you want to invest your money? Do your homework and find a top bank or financial institution and they will help you.

Bear this in mind - these organization will have QUALIFIED advisers. So if you put your money through a IFA and get a bad service and poor return - don´t complaint because you are the only one to blame!!

Anonymous
#582653

I'd say there are may people on this site that are talking through personal experience with said company. deVere always try that same old chestnut "these people didn't make the deVere grade".

BOLLO*KS It's only a matter of time before they implode.

Anonymous
#581301

Makes me laugh how much venom you losers have !

Basically everyone in deVeres who is successful is a *** man or dodgy !?

And everyone that leaves does so because they are great , hardworking , ethical candidates ? Hahahaha

the mating call of the losers !

Anonymous
to Mating call of the loser #656230

You & your drunken mouth-piece are the losers sunshine. Let's face it your business is going down the toilet, where it belongs with my Richard the 3rd!

DeVere are washed up, struggling to obtain new clients even when they do, more often clients are cancelling because they see you for what you are! Take a long hard look in the mirror.

What goes around comes around- you @ deVere have it long overdue :-) enjoy lard chops. :upset

Anonymous
#581194

Mr DeVere - are you mad? DeVere isnt the biggest in the world they are just full of *** - AWD Chase De Vere (you stole their name) has 4500 advisers across Europe - plenty of others have thousands and thousands of advisers - you have a few hundred once you deduct the double glazing salesmen.....

Have you actually got 8 billion in only 9 years or did someone just make that up to further *** clients - along with all your other unfounded claims.

Are you really regulated in every country??? - no you're not - caught again Pinocchio!!!

Looking at the rest of your comments - its not surprising you have such a bad reputation - you really deserve everything that is coming you way...

Anonymous
#581140

So the 60,000+ clients they have and over 400 consultants are all brainwashed fools? Is that what everyone is saying? The fact that despite everyone slagging them off they are regulated and authorised in every country they operate in. And in some of the most high regulated countries in the world namely South Africa and the UK?

Yes they probably have let new recruits down in the fact that they should not have employed them in the 1st place because they couldn’t handle the role. I mean let’s face it everyone thinks they can do this job but in fact only a few can…because the others just can’t handle the role and then make any excuse up as to why they left !!. I suppose if you walked into a very high earning appointment in your 1st week you wouldn’t be complaining?

And looking at the energy and time that goes into all the disinformation on this anonymous blog site...I can only assume if you focussed as much energy into the deVere role then you probably would have been a success.

And just so you know …I don’t work for deVere’s and never have. I do however know many deVere consultants who despite what all these anonymous blogs say are hardworking, straight, and honest guys. I also know many deVere clients who are more than happy with their consultants and in turn their investments!

And let’s just end the argument on this note. IF the deVere group were as bad as all these blogs then why are they the biggest in the world?? How has that happened? That a dodgy company who rips everyone off can achieve so much by been so dodgy? Why would they have $8 Billion of “other people’s money” under their management!! Just saying that makes me laugh! And to top that off. IF any of these blogs were true in anyway why aren’t they been struck off by every regulator across the globe? Why isn’t this front page news??

How can anyone claim these blogs are credible when they are placed anonymously! On an Anonymous grip site! With Anonymous events!

IF you do leave the deVere group DON’T start moaning and complaining and blaming others. Have some self-respect…look at yourself and agree. You should not have done the role! You were not cut out for the role. Stop Bleating on about it and go get another job because you obviously need one!

Anonymous
to DISINFORMATION #644345

Let's face it buddy, deVere are scam artists, thieves that would rob their own mothers given half a chance. Most people don't know about the trail of devastation left in Nigel's wake, to get him where he is today. We know about it, if some devere clients knew a little of this, I think they would run a mile.

You get on your soapbox and spout off what you want, we know the facts, have hard evidence of the trail. I think deVere are in for a name change (again) soon, right? :grin

Anonymous
#581105

to be honest with you mate, youre not on the front line working for devere, you dont see the mindless stuff they charge u for on your pay run! Admin costs for the team administrator, the cost for your phone calls, the CISI exams they claim are free if you pass first time which you still have to pay for.

ITS A JOKE! theyre theives mate, wake up and smell Nigels bullsh*t.

Anonymous
#580673

"face control"

Just ask yourself the meaning of the 2 words above. You do not hire people of certain nationalities, you only have to look at your employee stats of who gets hired in the UK to prove it.

Anonymous
#580663

Im afraid you did not address the fact that the employees you manage to drag into your company have to pay for all office costs (including the stay in the hilton for the training course) that gets clawed back in commission.

Anonymous
#580618

I am currently a recruiter based in Manchester for The deVere Group and can categorically say this isn’t the case. Upon joining the company I was given the same training as all new recruiters for the company which comprises of learning details of the company, the positions we are recruiting for, etc. The company themselves adhere to the REC's code of conduct and so of course we are not instructed (nor do we) recruit people of specific nationalities or “accents” but take each application on an individual basis focusing on skills and talents as opposed to going off their creed, religion, nationality, etc.

As for location of the role, it is true you cannot go to any location you like due to the fact that not all of their offices are always looking for new staff or employees to come on board. Providing an office is hiring then of course that office is considered a possibility for any successful applicant for the role. As far paying for the costs of any office, this is completely ludicrous. It does lead to the question of whether you were actually recruiting for the company? Not many companies, aside from start-up companies, will ask you to pay for office costs, etc. and deVere is anything but as start-up company. At the minute they have in excess of 60, 000 clients across the globe.

The commission aspect is also a bogus claim, the commission is extremely straight forward for the role-a percentage for every deal done. The commission of any role offered with deVere is not capped at all. The only instance where commission is not uncapped is in countries where commission would be against the regulations of that country (most notably the UK).

Being such a large firm they follow a huge number of regulations across the globe, and will always make sure they follow the regulations to the hilt as it is not worth it not to. These regulations are certainly not easy to obtain and very easy to lose. I think anyone reading the extraordinary allegations on this site should bear that in mind

Anonymous
to Andy #591946

I'm confused here. I have been invited to a seminar and now i'm unsure because of some of the comments i have read.

Are the people that are having a rant doing so because they couldn't *** the work...or are they really being taken advantage of?

I wont commit to leaving my family behind to work overseas if it is a rip off and devere will not be there as a backbone to front me. I am certainly not paying my own flights to the country i am looking at.

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