Devere Group's reply to:
Devere Group - I won't deal with them again.
I'm frankly surprised that deVere invites comments about their service but then the law of averages suggests they'll have at least some happy customers, it's just that I'm not one of them.
What follows is based on my on experience of deVere after having dealt with them over some time. It is a series of personal opinions based on actual contact with various parts of the deVere organisation. All statements and opinions are supported by documentary evidence a and recorded phone calls - a caution stemming from having dealt with them for some time. But your mileage might vary.
I initially dealt with someone called Alex in Bangkok (my home at that time). I found Alex's attitude to be arrogant, unhelpful beyond wanting to sell me something, and uncaring of customer needs right from my second contact with him. I should have seen the writing on the wall at that time, but I figured I would give him some time, that he was probably a professional. However I found that this seems to permeate all levels of their regional operation - from the girl who answers the phone in Bangkok right up to their regional management office. I found all interactions with deVere to be thoroughly unsatisfactory. frustrating and unacceptable, though unfortunately, this was after after I had already invested 100,000UKP with them. Perhaps they no longer regarded me as a source of enrichment. Looking back, my due diligence should have been better.
Their European management has a uniform approach to customer service; they don't bother to respond, Not to phone calls - any phone calls, not to to emails - any emails. At any management level, from Nigel Green (CEO) down. I suggest this is because they are reluctant to respond to any customer service issues that might cause them to question their own self-image, though I did get one call from a deVere lawyer on one occasion. Normally I would not speak to lawyers directly nor did I ask to that time. Instead of addressing the actual issues I was raising, he tried to intimidate me whilst otherwise acting much as one would expect from an American lawyer working for a financial services company. Arrogance, a disinterest in customer complaints and a lack of concern for their customer's money now appear to me to be a part of their corporate culture - certainly it seems to be a defining characteristic of their operation.
My investment of 100,000UKP is, after some time in deVere custody, now worth about 35% of that - not impressive but nobody at deVere seems much bothered about it. perhaps because it is not an isolated case? Though I understand they've done quite well from commissions from the various funds they recommended I buy.
I cannot say if the deVere behaviour has been any more or less honest or dishonest than what we ought to expect from financial services companies, simply from reading the newspapers, but their recommendations for investment decisions appear to have been more orientated towards large commissions than investment performance. Perhaps I just expected too much and acted too late.
The end result is that I will never deal with deVere again. Not ever. Nor will any of my family, nor, if I can influence them, will any of my friends or acquaintances. I lost what to me was a lot of money dealing with them, you don't need to.
Now I expect I may very well get more threats of legal action from them. Easier than learning how to deliver honest customer service I suppose. In my experience, you can't expect a dog to learn how to be a cat; once born and trained, it will probably continue to behave like a dog throughout its life.
Give them a very wide berth would be my advice.
Reason of review: Arrogance, poor business practices, not fit for purpose..