deVere Group
Reviews and Complaints
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Verified ReviewerThe worst investment decision of my life.
The worst investment decision of my life. The 2021 Stockmarket is at record high's and a 16yrs (based on their advice) old invest through Devere Indonesia the investment is at 40% of its initial value.
Is it high management fee's or bad advice? I will never know because they do not give you statements and it is very difficult for them to return correspondence. Once your money is there you will not get any management or correspondence. I am now jumping through hoops (5+ months) as they shift my file to and from office's around Asia, to retrieve a savings fund for my son education.
He is now close to graduation. So the idea of the fund was a joke. I am still wondering if I will see my money.
Devere has cost me more time and money... Stay away.
Deliver product or service ordered
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Verified ReviewerTotal of loss of investment
The Four Seasons Growth Plan.
A substantial Investment was made into an unregulated scheme, which was not suitable for my portfolio. I was not advised, not made aware of the risk and no communication followed during the suspension, it also appears that no action was/has been made by Devere to recover my investment.
Full refund
deVere Group - DeVere (aka Nigel Green) fraud, scam and sexual harassment
Not happy with cheating hundreds of expats out of their hard-earned retirement money by promising high-yielding bogus investments, De Vere is a world-class scammer of unsuspecting new financial consultant recruits.
The recruits are treated to a glossy 'recruitment presentation' and encouraged to ignore all negative postings on the Internet about De Vere scams. Then they are promised the world if they come to work for De Vere:-
£100K to £500K in more or less guaranteed fees
Freedom to work at any De Vere offices worldwide
Free training to qualify as Stockbrokers
De Vere-covered visas and 'assistance' with relocation.
Sounds like a dream? Well, it is - a nightmare! Here is a reality check:-
You will probably earn around £50k to £80K gross from which you will have to deduct:-
a) 20% of your income for your secretary/ co-ordinator;
b) 50% of her accommodation will need to be covered by you;
c) You will need to pay ALL her travelling and relocation expenses (could be expensive, if she is not your wife!);
d) you will need to pay your share of office expenses and ALL costs of your office telephone bill;
e) you will need to cover ALL your relocation and visa processing costs - they will give you no help other than a letter saying that they have offered you a job as an independent;
f) to get to your De Vere office, expect to have at least £20k saved up - you will need it in your first two months;
g) be prepared to wait and wait for your commissions and be prepared for *** after *** why it is delayed!
h) be prepared for prospects cancelling appointments after reading up about De Vere scams on the Internet and be prepared for De vere to blame you for that (isn't life a ***
To find out more about what you are in for if you are *** enough not to listen to what other ex employees have to say about them on the Internet, read the attachment. It has notes on the standard offer letter you can expect from these scammers.
De Vere is in for a name change for sure - why not "BEWARE!"
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Verified Reviewer | London, EnglandDeVere sold me a 'stable' pension in defunct Strategic Growth Fund
Like many it seems I was given misguided advice from deVere in South Africa. In particular the failed Strategic Growth Fund. This was through what was called Generali Vision and now Utmost Vision.
Having finally seen a statement today it seems my ‘Pension’ that I was being sold has lost 50% of its value in a decade.
Apology
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Verified ReviewerTotal scam
My dissatisfaction is well documented the continuous message that DeVere strive to excel in their advice is mind blowing. Are all the contributors to this site liars ?
Again I say to De Vere ,WHAT DO THE FOLLOWING WORDS MEAN TO YOU "THIS ADVICE REPORT IS VALID FOR 3 MONTHS" .
What do DeVere do ? buy very poor high commission funds 6 months after the report expired !and without any notification whatsoever quarterly reviews hav,nt had one yet even after 4 years, TAKE A LOOK AT THE ATTACHMENTS
Let the company propose a solution
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Verified Reviewer | Dubai, DubaiFrustrated with process of getting paid surrender value of my policy!
I sent a request to surrender my policy on the 8th of May, I was asked to send more information which did not make sense and was from an automated email with little explanations. After several emails, I sent the required information on 13th May and I am still waiting for my funds!
It's bad enough that I have lost over $29,000 but they are taking forever to repay me whatever little they claim I am entitled to. This company is a huge scam and I will definitely warn anyone and everyone about investing their hard earned cash through one of their products. The response to m initial review proves my point, how can I not know what I am talking about. When I took this policy with Devere I was based in Dubai, not South Africa.
Devere does have offices in Dubai.
I have been contacting the Dubai office to get back my money so I know what I am talking about. Instead of asking for more information they come back with a stupid response.
Full refund
Financial Advisor
This company accept absolutely no responsibility for their employees not honouring the promises they made when I invested the money. They offered me no advice despite the fact that they advertise themselves as investment advisors.
I still do not not know the status of the investment or whether they only exist on paper.
The local representative says he cannot advise me. No resolution at all.
5 Years I lost money and the investment companies made £6250.
I moved my small QROPS of £58000 and 5 years later in a period of financial growth of about 10% per year I made a loss and they took £6250 in fees. How can this be legitimate.
So disappointed and a little angry. Trust once lost is never recovered.
- First contact was very professional
- Global scope
- Lack of transparency
- Take no responsibilities for own mistakes
- Questionable advice given environment and customer profile
Let the company propose a solution
Resolved: Appalling Quality of Financial Advisors
I was contacted by their Costumer care representative with an adequate solution to my concerns.
It seems like I only contact by the Finacial Advisor when it is of their interest to sell new products or if I provide the contact number for potential new clients.
It is VERY DISAPPOINTING!
- Anything once they had my cash
- Intransparent
- High charges
Let the company propose a solution
Devere are the worst
Client Services for DeVere did contact me after my post on this site and investigated my complaint.Regarding my GB 14,000 + loss from the Strategic Growth fund they write that "with Hindsight and knowledge that the advice given by DeVere appeared to be poor"... Opening a new generali Savings fund in place of topping up existing fund was Suitable for my needs and that full policy details were provided.
The end paragraph from DeVere was that if I have any further evidence in my dispute they would be prepared to reconsider but if I remain dissatisfied then I should seek legal advise!In my humble view it looked like a lawyer had written the e-mail.If they had offered a gesture of good will for my losses it would have been welcomed, but they don't have the common sense to understand that I would never ever return my portfolio to Devere or recommend the company to colleagues or contacts who might ask for advise or add this damming conclusion to be shared world wide. ...….
Several years ago DeVere moved assets in my QROPS, without approval, then lost money by opening a new savings account with Generali instead of Amending the existing simply to get commissions, I find this out at a later date when I finally found a trustworthy Adviser, but the really difficult part is DeVere keep calling me and asking me to return which is no only unprofessional but extremely annoying ..
- Anything once they had my cash
- Pressure applied by the consultant and his assistant
- Losing pension money to an inappropriate product
Full refund
Generali Vision sold by deVere
As many others i hav lost much money due to the misguided advice from deVere. In particular the failed Strategic Growth Fund, but also manual processing errors on deVere's side are main contributors.
Apparently the Generali Vision is called now Utmost Vision, without any information, and today i got informed that Utmost Wealth Solutions have made calculations mistakes and as a result must adjust my plan value down 10kEUR.
Outrageous! Can anyone be trusted in this industry?
Any advice on good legal support for this case welcome.
- Good first impression
- Keeps contact
- Do not side with clients
- Take no responsibilities for own mistakes
- Poor advice
Full refund
Unauthorized Charges to GAM Star Growth Strategy Fund C
My name is Armando Petrozzi, with Plan Number 9402****. Invested US$62000 but now my plan value is US$52,000.
Despite the fund itseflf has shown 25% profitability in the last 5 years the value of my plan has shown LOSSES of US$9000 due to charges made by DeVere.
I have written my assigned relationship with no response.
I will wait until this week for a formal response. If negative, will start legal actions to recover the funds.
Full refund
Devere Unsolicited Calls - STOP USING LINKEDIN AS YOUR TELEPHONE BOOK
Hi,
I'm on Linked in as are many millions of others.
Like many millions of others I have moved around due to my senior roles; this is demonstrated by my role locations in my profile.
Every week I seek your people stalking my profile.
Devere - This does NOT give you the right to screen my profile, obtain my details and then continue to call every 2 weeks asking about where my pension is - I know you are doing this to many others.
I've been polite 30 times and explained NO and asked for you to remove me from your lists...only to find a different person then calling me a week later.
Completely Unprofessional. I will be speaking with LinkedIn about your practices including obtaining contact information & asking for your company to have access removed
Let the company propose a solution
Please stop calling! Your agents are rude and disingenuous
Despite repeated requests over the last 2 1/2 years to stop and remove my name and number from their database, the cold-call team in Dubai just will not desist.
After first moving to Dubai over 2 years ago, I received a call from an agent who was very rude when I told him I wasn't looking for financial advice so I requested that no-one from de Vere contact me again.
Unfortunately, they have persisted to call my office regularly, and only today a woman called "Anna" phoned my colleague asking to speak to me and that she knew me.
When I called back, (clearly she did not know me) she made up some BS about me liking a de Vere Facebook post about UK tax advice and tried to sell their financial services.
I understand that the market is competitive but to have agents be rude when declining their services or deceptive when trying to sell services is not the way to go about it. Equally, to continue calling even after having been asked to stop has now led me to write this review.
I'm pretty sure that having requested to have my name removed from their database, still being contacted is likely to breach GDPR
Please stop, this is not the way to do business
Just stop calling me and remove my information from their database
deVere Group - Loss of strategic growth fund investment in Providence QROPS
I received some unwelcome news at the beginning of Februaury from the administrators of this plan STM Malta – essentially that with little prospect of any money being realised from the assets of the suspended PLL UAM Strategic Growth Fund the value of this investment is in effect being written off.
The facts as I see them are these:
•Paul Dodds of your Geneva office invested a transfer value of £99,354.66 into this QROPs plan and of that invested roughly 15% into the strategic growth fund in two tranches: an initial £14900.20 on 17.10.2017 and £702.23 on 26.11.2012.
•Less than two months later in February 2013 it appears that the fund was suspended. This nominal investment amount has sat there in stasis ever since while charges are being incurred. It has now been written off.
•Over the past seven years then the value of this pension fund has fallen from it’s initial transfer value to approximately £94,000 despite the length and strength of the bull market since 2010.
•I do not believe I have received any guidance on the nature of the investment in the strategic growth fund nor any formal communication about this situation from deVere despite the company still being named as the advisor on this plan. There was no advice on the illiquid nature of the products this fund has invested in nor during my update conversations with Paul Dodds any communications about its suspension.
I wrote to Paul Dodds directly about this matter on 16 February 2019 by recorded delivery to the deVere office at ROute de l'Aéroport in Geneva. Interestingly the post returned my letter yesterday unopened with the notification, translated, that the receiver could not be found at this address. Paul Dodds is still named as a director on the register of commerce.
I look forward to your response.
- Losing pension money to an inappropriate product
Full refund
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Sounds like you will do well at devere my friend, fighting talk is something they know well. Just make sure you have enough money (at least 15k) and don't say you have not been warned or seen the writing on the wall.
Good luck, you'll certainly need lots of that.
What is really goin on here?? I went to the meeting in London the other day it was hosted by Nigel Green, its all seems plausable, if what I read is true why doesn't somebody kick his head in,,??
if everyone can get thru the interview and then the meeting surely somone who was burned by devere would have thought it to get friend to apply go thru the motions so you can be sure where Nigel green is and give him a piece of your mind!! I'm Just saying, it wouldn't be difficult would it??
Sounds like a great company to wok for, not. Why do so many people fall for their BS? I guess there's one born every minute, if something sounds too good to be true it probably is.
Deverie has a dreadful reputation globally, not just from past employees. There is plenty of feedback from customers past & present.
What kind of company makes its employees pay the office rent? Scammers that's who.
devere are implicated in scams all over the world, you've only have to search google to see what these scammsters are about. They stole over 12K off a blind person in UK.
All their products are fully loaded with commissions, front and back end. If you want to see your investment plummet in value, have little or no contact, deal with non qualified sales staff, go with devere.
deverie can't get away from it... They are scammers of the highest order, go boys go... make some more money before you're all locked up for a very long time.
Everything this poster has said is true, Devere are a dreadful company to work for. Sales, sales, sales, never putting the customer first.
I know because I worked or them, made lots of money, followed their lead. I couldn't continue ripping people off, I'm now looking for a better opportunity with a real company.
Stay away from these thieves they will take you for everything. Devere deserve all they get on here.
Everything this poster has said is true, Devere are a dreadful company to work for. Sales, sales, sales, never putting the customer first.
I know because I worked or them, made lots of money, followed their lead. I couldn't continue ripping people off, I'm now looking for a better opportunity with a real company.
Stay away from these thieves they will take you or everything. Devere deserve all they get on here.
lots of comments, so little action.
what are the people commenting on this blog going to do about the issues they have raised?
It's true, This company is terrible. Bullies and do very little for the customer.
I now work for a competitor and they are warm friendly provide good training and are Very customer focused.
Wow ThePissed, two seperate posts. You must be a VERY angry 26 year old pretty, blond Bulgarian...