Reply by Devere Group

deVere Group provide all training at no cost to the recruit. We develop our recruits training them to achieve industry standard qualifications enabling them to deliver trusted international financial advice. With over 70,000 active clients around the world and over $9 billion under advice and management, deVere are confident that our consultants deliver the very finest financial advice.
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Washington, District Of Columbia
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19 comments

As an ambitious 26 year old pretty, blond girl with a degree in management from City University in Bulgaria and had wanted to break off from escort work in Knightbridge, London. I had put my name down in several UK jobsites for work in financial services as many of my high-paying clients were accountants and bankers. I have no financial services experience, but have very good English and an 'engaging' personality. So I thought I was well qualified to give the job a go.

I was contacted by a recruiter from de Vere Group and was offered a job as a financial consultant for the company's Moscow office (as I speak Russian). I guess the recruiter calling me got my CV from a jobsite. I went for the interview which was a presentation. It all looked good: £150,000 a year guaranteed, office location of my choice, full training and a caring firm.

I became worried when I got their offer letter which seemed to show that I would have to pay them back my training course expenses, pay for my IFA course and exams (although they said they would do that), do cold calls all on my own!!!! and so on.

When I told them, I had changed my mind after getting the letter, I got a call from one of their managers who said that I would be treated right, if I treated him right. When I asked him if he was referring to sexual favours, he said that he could be. I cut him off and sent letter to Nigel Green, the company's CEO to complain and copied it to Steven Luckett, the recruiter's boss. No response nothing.

de Vere left a bad taste in my mouth and I guess they will in yours too! If you are girl willing to give sex for your career, you could do well there. But if you want a real job, stay clear I say. Horrible, horrible people.

Review about: Devere Group Consulting Service.

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Anonymous
#533174

I have had personal experience of this cowboy outfit. They are bad, very bad. Steer well clear.

Anonymous
#533173

I have had personal experience of this cowboy outfit. They are bad, very bad. Steer well clear.

Anonymous
#454567

I was approached last week by devere group South africa to work for them. What did bother me was the way I was treated by Mr Van Niekerk (Regional manager giving the second line interview). He was extremely derogatory towards me and totally prejudice based on my sexual orientation. At one point in the interview I asked him what type of a person he is looking for to fill the position and he replied that firstly, he would like to employ a real man in the position and then he burst out in laughter. Once he realised that his joke was extremely un-appropriate he apologised profusely saying he shouldn’t say things like that cause it will get him in trouble.

He was also negative towards me throughout the interview making statements for instance that he has never seen an ex-bank employee that could succeed in this type of job because they don’t have the right mentality for it. He also attacked me personally stating that he earned more money in his first month of working for the Devere group than what I have earned and most propably ever will earn in my entire life and that the chair I am sitting in at the moment is the closest I will ever get to being a millionaire.

He asked me why I think that in the two years I have been applying for positions I have not found employment? I replied that due to BBEEE some positions were not suitable. He interrupted me saying that BBEEE is not enough of a reason for all the unsuccessful applications. I continued to say that another reason could be due to me not having any formal qualification behind my name at which point he stated that he doesn’t have any degree or qualification either and that he got the job he has now in the first month of returning to South Africa and he didn’t even have to go for an interview he got the job over the telephone (I would just like to point out here that this statement of his was an outright LIE to further degrade me as he does have a B.Comm degree from the University of Stellenbosch). I pointed out to him that perhaps his international experience also played a part in him getting that job to which he replied that there is no difference between having local job experience and international job experience.

I would really like to know why on earth did he waste my time to come out to Stellenbosch for an interview if he had already decided before he met me that I was unemployable due to being an ex-banking employee without qualifications who is not worthy of being called a real man due to me being ***? I would also like to know how Devere can employ such a narrow minded, prejudice *** as an area manager? My one regret throughout this whole ordeal is that I did not tape that interview.

Please, do not keep my CV on record as I would not want to work for a company that employs people like Mr Van Niekerk as area managers.

Anonymous
#454528

i had a group meeting today for the de vere gropu today at the hilton hotel in heathrow airport. it all sounded to good to be true which it probably means it is!! has anyone had any pprevious work experience with these, anything would be appriciated it.

Notmytype
#386269

Are there any CLIENTS on here that can tell me anything about their experiences with deVere? I've been scouring the net and all I've managed to find are comments from disgruntled ex-employees.

I need to make a decision, so I'd really appreciate if any clients out there could give me any advice.

Anonymous
#358326

DEVERE IS A SCAM

Anonymous
#343378

Yep

These fake IFA dudes ripped people off for £millions on the consolidated fund scandal about 12 years ago when they were called Britex(google it!)They got caught up and changed there name sharpish to devere and partners. Now they are flogging funds again that they (Nigel Green etc) have a 'vested' interest in.

Still what can you say, thousand of expat muppets are still buying this hype without doing any due diligence or research on these cowboys. So who's the biggest idiots?

Anonymous
#342792

Interesting comments. You should contact the regulators and/or the press.

Anonymous
#342764

so 'sales guys', you were selling products for six months that you didnt understand and you are now moaning on a blog?

Did you pocket the commission? Thought so.....

Anonymous
#341827

wtach the film boiler room before you go on the devere training course, brilliant film until the end when you end up in jail.

I worked for devere for 6 months and sold things that i now understand and wish i had not,

Anonymous
#341821

Nigel green, craig featherby and Steven Luckett.

They only recruit sales people and not financial advisors ?? why is this............ Sorry guys but financial advisors will not sell funds to people that nigel and craig are the majority stake holders in and are not invested in anything but there own back tested funds. Anyone from the industry can see right through the whole papertrail and diversionary companies that they own. its very easy to create a back tested fund that looks great so on paper it is a safe bet. these guys have a habit of setting up investment funds with established names that sound like something familiar.

everybody wants to earn money but there is a difference between earning money and theft. ask bernard maddoff.

If you dont belive me check out the devere fund platform, look at the most popular funds and then trace back the roots of who is the fund managers and more importantly who owns the investment fund.

Ask Nigel Green or craig featherby for a comment and you will get threatened with legal action.

be very careful around these guys with your money but more importantly if your a sales guy who is down on you luck, in need of a new opportunity and at the end of the road. dont be drawn into the whole thing, things that sound to good to be true usually are. even when the person who is selling the job to you says not everyone makes it, the facts are the nobody makes it exept the 5 guys at the top. nigel, craig and his merry men, the system is rigged for failure because by the time you become competent enough you will start questioning things and then you will be forced out/

It doesnt matter how good a salesman you are, you can not win

blueceo
#335979

Well written comments by Fenix on the 6th August. I think the theme here is buyer beware. I have read many comments on this site about De Vere and what they sell. De Vere only sells what insurance companies offer by way of policies. The rules of charges and commissions are dictated by the insurance companies not DeVere they mealy market what you could go directly to the insurance company and buy or buy on line. I agree a lot of so called financial consultants are in fact insultants and have no financial expertise what so ever they unfortunately sell for themselves not for the clients benefit. This is an age old problem in the industry and should be more closely monitored by the product providers i.e. the insurance companies. If you the consumer are making regular complaint to the insurance companies about a particular organisation you have bought through and believe you have been miss sold they are the ones who should take action against the IFA unfortunately this will never happen because the truth is the insurance companies really don’t give a dam they work on the principal of all business is good business. WHY because their answer is always we didn’t give the advise we only provide the product it’s their standard get out. The fact it’s their product is not a considerations as I said they design and determine the charges and commissions paid not the IFA. You will find most offshore product providers all have similar product charging structures otherwise they would not be competitive.

The offshore insurance market is largely unregulated when compared to the UK which honesty is now becoming over regulated and unfortunately it is you the consumer that will eventually suffer because there will be no independent financial advisors they are looking at the market and thinking why bother lets tie to an insurance company and not have the hassle of FSA and FIMBRA

SO BUYER BEWARE check the literature ask questions don’t rush into it you have waited this long before you have been cajoled into doing something so a few more days checking things out won’t harm if your advisor is a professional he will understand and should help you further understand what you are getting into. Unfortunately in this industry charges are inevitable a little like taxes you can’t avoid them… In finishing remember it is the integrity of the advisor you are dealing with not the integrity of his employer people buy from people not companies……

Fenix
#324279

Well I had the opportunity to work for De Vere in their PIC office's in Abu Dhabi back in 2004.I worked as a Coordinator, basically the guy who contacts potential clients Ex-pats mostly, on behalf of Consultant (Wannabe Financial Advisor - actually I think he had passed all his exams, so was a proper financial advisor). He paid for half my accommodation and gave me a 20% cut on any commission he earned from clients I brought to him. I worked there for about 8months I was well taken care off, I kind of cleared about a 800-1000 Pounds sterling after expenses etc. It was a great opportunity to check out the country the lifestyle and culture, more importantly it was a great insight into the Financial Services World.

I also had the opportunity to meet Nigel Green, a few times, and was impressed with the guy, perhaps a bit overawed by the company he's managed to build up. The guy has a photographic memory - after asking me about what was my favourite book, I answered a biography I had read on a well known billionaire, he managed to quote verbatim whole paragraphs. The impression I got was that Nigel Green was a guy who lived and breathed his business, a true entrepreneur and I guess he did look a bit like Mr Burns from the Simpsons –lol.

As for my insight into the business model- well yeah, a lot of the guy's at the office were just sales people from various backgrounds, most certainly not as illustrious as some of the clients they were trying to bag, working either as "cold calling co-ordinators" , or as "confident consultants" Yes in essence they were acting as brokers for the likes of the great Billion pound Life assurance companies who had thousands of different funds under their management and who were happy to pay for the clients introduced by these guys,

The new Consultants although they tried to apply themselves to gain some kind of discernment on behalf of their clients, with respect to choosing funds and gaining an insight into the financial trends of the various macroeconomic factors affecting them.

However the truth is these were not guys that would be employed by the likes of Merrill Lynch or Goldman Sachs for there financial analysis - I'm sure they would never have given me a job with my lower second degree in Law. But the point is they did assist in one of the first fundamentals of Wealth management - help people put money away that could not be got at for a while, and got them into the habit of saving a percentage of their gross income. So that when the expats did eventually retire, move home etc., they had something to show for their careers and lower tax living-pretty simple.

I learnt how to handle my money and investments very early - because I was interested in that area, making my first share purchase whilst only 14 - OK my mother bought them on my behalf, but by the time I was 18 my Next shares were worth 10 times what I had invested. But most ex pats were too busy working hard for their careers and money to ever have an interest in savings and investments, most just wanted to relax and enjoy themselves when they clocked off, fair enough they were probably earning 50 -80% more than they would have at home. But the nature of money is that it gets spent, especially when people are so unhappy with their jobs and too preoccupied chasing the dream of a lifestyle and merely end up casualties of the capitalist consumer conundrum or bamboozled by the banks. Truth is if you earn 2k or 20k a month most ex pats (and wage slaves in general) 80%, will still be in an overdraft situation. So when these guys (DeVere/PIC/IFA’s) bend your arms to save, they're doing you a favour as well as themselves. When I saw statements of people who had saved for at least 5yrs - they had something to look forward to. Even if the consultants had chosen the funds on their behalf with the aid of a coin toss and or wherever the point of a pin landed -lol -Sorry its the truth.

I left because I had integrity issues - I did not think it was right that people should have to use middlemen that were primarily motivated by the commission they could earn and the lack of financial savvy shown by a lot of these consultants - especially considering how most of these consultants had no investments of their own and would never in their right minds ever do so in the products they were selling.

But if you haven’t read the financial pages for years and don’t know about the stock markets and don’t want to invest in your nephews new dotcom. What do you do?

I suggest you read some books – If you can be bothered.

Simple books like “Rich Dad Poor Dad” series of books by Robert Kyosaki or The Richest man in Babylon by George Samuel Clason -, If you have time read the Financial Times or Investors Chronicle.

Or Get an IFA who walks the talk. Someone who has got some investments of his own, Plus A Good IFA an established guy in a foreign country where you have started to work will probably have a network of local contacts who trust him and insights into social and cultural contacts to put the average Facebook teenager to shame. And yeah the truth is the really successful ones probably earn 10 times your average expats salary.

An IFA can be a great asset in more ways than one, but don’t for god’s sake get suckered in by all the bull *** they say, take some real responsibility for your financial lives and check them out properly first. And the truth is every firm has good ones and bad ones.

Peace and prosperity to all and take care

Anonymous
#306069

deVere Group is worldwide known for its tax evasion and it so called consultants (Legally they are employees...ANY COURT WOULD say this is a TRUE Statement, if it came to it)...I have facts and figures of all employees (digital accounting records of consultants and executives…what is so declared...I have sent a copy to the tax authorities for each country.....now let’s see what happens...let’s see the executives squirm between Western Europe, Middle East, and Far East

Anonymous
#305751

WTH people?I bet if someone would treat you same way, you surely wouldnt feel as sarcastic giving 'smart' comments.

Anonymous
#285743

He already has....its called boiler room!!

Anonymous
#285559

You'd fit in well in the Moscow office. Previous recruits are rumored to have been an ex fisherman and a tattooed former bouncer in a boy bar.

Don't worry, Nige. You can still sell the rights to Devere, the movie.

Anonymous
#285196

I just dont understand. You said you didn't agree to any sexual favours yet you say devere left a bad taste in your mouth!

Anonymous
#284922

So let me get this straight.

You were a former escort (read: ***) with ABSOLUTELY NO EXPERIENCE in any type of finance whatsoever.

You expect to land a job that pays 150,000 pounds in financial services? WITH NO EXPERIENCE OR EDUCATION? I'm sorry, but in the US, you would HAVE to blow someone to get that high-paying of a job with NO background whatsoever. It would have to be a *** good blowie, too.

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