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Devere Group's reply to:

Devere Group review: A simple question for deVere

Dear Mr Sheppard,

deVere Group provides expert independent financial advice to clients all over the world and we take pride in offering a high-quality service, so we take all complaints very seriously. We would like to apologise for any inconvenience this may have caused and can confirm that you have been placed on a do not call list to ensure this doesn’t happen again. Should you have any further queries, please do not hesitate to contact us.
Review
#1301537 Review #1301537 is a subjective opinion of poster.
Cons
  • Persistent calls
Reason of review
Cold Calling

Over the years, I have noticed that they come in waves - Continuous cold contact from people in different European offices in deVere group. Mail, LinkedIn and phone calls in double digit numbers per day.

Persistent contact that does not take notice that that one is simply not interested in their services, nor a long winded discussion as to why.

Such persistence implies that the company's interests are based on a deal and not my personal well being.

Having never once provided my contact details to deVere, having changed phone number to avoid cold calls, and not having ever consented to deVere calling me, I would like to know how one can arrange to have one's contact details definitively removed from the groups numerous databases.

A simple question to which one hopes to receive a simple, timely and concise response.

To head off the standard, one is tired of being told to "tell the person calling to place you on the DNC list". The person calling has zero interest and my interest is to not be on any list in deVere, yet alone an ignored "do not call" list.

Devere Group's reply to:

Devere Group review in Genève, Genf: QROPS pension ... lost £150,000

At deVere Group, we pride ourselves on customer satisfaction, which is why we have a dedicated client relations team. Having checked our records, we can see that no formal complaint has been made. However, we can confirm that a member of our team will be in contact with you immediately to investigate this matter further and to try and resolve any issues you may be having. Should you have any queries in the meantime, please do not hesitate to contact us at csvhelp@devere-group.com.
Review
#1291480 Review #1291480 is a subjective opinion of poster.
Reason of review
Bad quality
Loss
$200000
Preferred solution
Full refund

Colin Kneale, a senior partner with deVere Group (Geneva) called me in August 2010, telling me he understood I was a British citizen now resident in Switzerland.

He asked whether I had pension savings back in the UK and, if so, with how many different institutions. I confirmed that I did, and explained these funds were spread across four different funds.

He then told me that I could benefit from the QROPS programme, established by law in the UK in 2006, which allowed UK citizens no longer resident in the UK to move their pension savings into offshore accounts that met specific criteria. He explained that by doing this, I could consolidate those various savings into a single account, making things easier to manage and make my money “work harder”.

I agreed to meet him to discuss.

At that meeting, he asked me to provide details of my UK pension accounts and to sign a letter authorising him to act on my behalf. I did this.

A few months later, he told me that my UK pension funds had been consolidated and had a total value of £154,947.

He then asked what level of risk I was willing to take with those funds and I explained, several times, that as these were my pension savings, my appetite for risk was very low.

Colin recommended a plan with Providence Capital, the trustees of which were Sovereign Trust Limited. He assured me this investment was low risk, ideal for pensions as it would ensure the funds kept pace with inflation. The fund was established in February 2011. Of the £154,947, Providence Capital invested £153,197 in a bond with Royal Skandia International and deducted £1,750 for first year Trustee fees.

Royal Skandia subsequently invested those funds in Four Elements Strategic Growth Plus securities.

In March 2012 I received a valuation of the fund for year end 2011 which showed a slight decline to £145,684. At the end of 2012, the fund had reduced to £134,130 . At the end of 2013, the valuation was £109,087. At no time did anyone from deVere advise me to move my funds elsewhere. By the time I received the 2013 statement and sought to do so, I was told the account had been frozen. Today, it appears there is virtually no hope of recovering any of my savings.

Given that (a) this entire event was prompted by an unsolicited call from a deVere agent, (b) I gave specific instruction that the investment vehicle for my pension savings be low risk and (c) at no time did deVere advise me to move the fund's elsewhere (advice that was offered to other clients), I believe deVere has failed in its duty of care. I would therefore ask the company to restore my pension fund to its start value, as defined in the annual valuation certificate I receive from Sovereign Trust.

Many thanks

Devere Group's reply to:

Devere Group review: Deveres response that my claim has no merit. I disagree Mr Offen miss sold the FOUR ELEMENTS GROWTH PLUS FUND, by not disclosing the full facts. Mr Kerswell tried to hide the fact that the fund was su

Further to Mr Rauber’s various reviews, we repeat that his claim has been fully investigated and found to be without merit.
Review
#1289776 Review #1289776 is a subjective opinion of poster.
Reason of review
Poor customer service
Loss
$400000
Preferred solution
Full refund

You claim " go to the regulator" who is your full regulator in Switzerland. Yes I have gone to Polyreg you claim is your regulator, but they claim only to be responsable for money laundering.

If Devere can not agree with this finding then please tell me and everybody in Switzerland who is the full regulator.

Deveres response that my claim has no merit. I disagree Mr Offen miss sold the FOUR ELEMENTS GROWTH PLUS FUND, by not disclosing the full facts. Mr Kerswell tried to hide the fact that the fund was suspended and even tried to pay my pension out of a totally different account, this is not only incompetent that is fraud. Deveres complaints department Juliette Vincent claimed to my Trustees that my QROPS pension setup was up by 17.5% this was an outright lie.

In fact it was 22% down and suspended. I believe my claim of the full refund has merit.

I demand a full refund of £ 212000

Devere Group's reply to:

Devere Group review: Devere has lost me my QROPS pension with a investment of over £212000 The FOUR ELEMENTS GROWTH PLUS FUND is a fraud right at the top of Devere

Mr Rauber made a similar complaint of deVere Group on 14th February 2017, which was fully investigated and found to be without merit. There is little more we can add to our previous findings, although we will summarise again in hopes of clearing this issue up.

We cannot comment on the particulars of Mr Rauber’s case as a matter of confidentiality except to say that any trades undertaken by deVere on behalf of its clients are only done with the client’s understanding and approval. We can however confirm that Mr Green at one time held shares in the Fund’s investment advisory company, but at no time did he have any control or mandate over the Fund and there was no element of insider trading. deVere Group is still working with the Regulator and Joint Administration Managers in Guernsey to ensure that its affected clients are informed regularly about the Fund’s progress. We recommend any interested parties to read the affidavit of Paul Yabsley who is acting on behalf of the Guernsey Financial Services Commission, supporting their initial court application, which delivers great insight into who they consider responsible for the problems with the fund in question. Mr Rauber has been notified of his right to refer his complaint to the appropriate Regulator and/or seek legal advice if he considers deVere to be wrong in its conclusions.
Review
#1288130 Review #1288130 is a subjective opinion of poster.
Reason of review
Not as described/ advertised
Loss
$400000
Preferred solution
Full refund

I had several Devere advisors and and every one was seriously lacking giving fruitful advice.

My QROPS pension advice by William Offen claiming to be top advisor of Devere promoted the FOUR ELEMENTS GROWTH PLUS FUND and was from the onset an insider trading scam, exclusivly sold by Devere to Devere. Not only a scam, but Offen left Switzerland even before the whole pension was set up and passed it on to a Jack Kerswell who was nothing more than incompetent.

He even tried to have my annual pension paid from a different account. Devere claim they take complaints seriously, this is certainly not the case with my pension set up by Devere.

So if you say what you are get on with it and sort my pension out and pay me back the £212'000 you have taken from me

Devere Group's reply to:

Devere Group review: Personal Data Breach & Strategic Fund suspension lack of updates

At deVere Group, we pride ourselves on customer satisfaction, which is why we have a dedicated clients relations team. Having checked our records, we can see that no formal complaint has been made. However, we can confirm that an adviser will be in contact with you immediately to resolve any issues you may be having and to give you an update on your investments. Should you have any queries in the meantime, please do not hesitate to contact us at clientrelations@devere-group.com.
Review
#1280636 Review #1280636 is a subjective opinion of poster.
Reason of review
Bad quality
Preferred solution
Let the company propose a solution

In the last year I had had already 3 advisors in Devere. Their advice has been poor and It made me invest -despite the fact I was not looking for much risk- in the Strategic Growth Fund that has been suspended since 2013. I have not received any updates on this since more than years now.

Last month my advisor (Mark Gibson) from Devere left the company along with his assistant. After that I received an email from them from a Hotmail email account to try to get in touch with me! probably they wanted me to do business with them outside the company. My Personal information was taken and now it is who knows where!!!! I find this disgusting!!! I am going to take legal action against devere for all this!!!

So far I had had only loses in my investments of almost 10 years! I can not recommend this company to anybody! I want now to suspend Devere as my advisor for good! Do not trust them!

Miguel Mena.

Devere Group's reply to:

Devere Group review: Cold calling my employer - harassment!

We take pride in our reputation and would like to thank you for bringing this to our attention! We apologise for any inconvenience this may have caused and can confirm that your name and contact details have been added to a ‘do not call’ list on our database. Please do not hesitate to contact us again should you have any other queries.
Review
#1272219 Review #1272219 is a subjective opinion of poster.
Reason of review
Poor customer service

Over the past twelve months I have had at least six calls at my employer's office by deVere group staff (from the Munich and Frankfurt office, apparently) who have found my details on LinkedIn. They claim that they want to make me an offer, and check the relevance of the offer.

So why don't they contact me on LinkedIn if they stalk me there anyway? I can read messages, and assess the relevance in that way, too. Why call my employer? I have repeatedly said that I do not wish any more calls, and that it is inappropriate to call my employer.

It bothers my colleagues, it is cutting into my working time. This is harassment.

Severe professional misconduct. Stop these calls!

Devere Group's reply to:

Devere Group review: Unethical contact

Dear Ms Francis,

Thanks for your message.

We would like to apologise on behalf of Michael for having contacted your employer in order to get hold of your details. This is definitely not our company policy and we apologise for any inconvenience this may have caused you.

Wishing you a speedy recovery.
Review
#1262315 Review #1262315 is a subjective opinion of poster.
Reason of review
Poor customer service

I am disgusted that De Veré Spain have contacted my employer to try and get hold of me to sell me products!! From one line in my LinkedIn profile and after sending me a request which I ignored Michael contacted my employer to track me down and has advised me he has done nothing wrong.

This is totally unacceptable and un ethical, my company has a strict social media policy which is written into my contract so to take my employers name and details from my profile is totally out of order and I would like to know how you are not doing anything wrong by doing this? Send me invites or messages to me I understand as I then have the choice of what to do, but to find a phone number for my employer and track me down is wrong.

To add to this I am currently off after a work accident and had a scan yesterday so my employer thought it was someone trying to get hold of me urgently regarding this so you had my boss contacting me at 11.30pm to make sure I had the message!! I cannot tell you how angry I am over this and look forward to understanding under which privacy /data laws etc., you are allowed to to complete this?

Devere Group's reply to:

Devere Group review: It cant be to pay feas for 70% this is a fraude

Hi Reiner,

Please send over your details and complaint to our Client Relations team at clientrelations@devere-group.com so we can assist you further.

Once received, we can assure you that it will receive our urgent attention.

Review
#1243786 Review #1243786 is a subjective opinion of poster.
Pros
  • 10 years with out service
  • And i lost my many
Reason of review
Return, Exchange or Cancellation Policy
Loss
$19000
Preferred solution
Full refund

I have canceled today my account by deVEre and the want what we pay 70% feas for the cancelation!!!!! What seems to me me like a fraude! 10years they never contaced us or help us with our account. 10 years with out emails foncalls or personal contact! but in the moment what cancelt the account what a biti!!!!

What is not a company to trust!

Hi Reiner,

I can direct you to the relevant team to fully surrender your policy but you should note the following. Your current value is xxxxxxx EUR and if you fully surrender you will receive XXXXX EUR (less when 30%) meaning you will lose approximately XXXXX EUR (70% FEES). If you are still happy to proceed with a full surrender let me know and I will ask the team to begin the process for you. However if you would like to discuss your options then I am available to call you today. Thank you.

Kind regards,

Rushan Silva

Rushan Silva| Client Services Associate

------------------------------------------------------------

Direct line: +356 2256 6253

Direct Email: rushan.silva@devere-group.com

deVere Group Global Client Services

Tel: +356 2256 6900

Email: csvhelp@devere-group.com

Website: www.devere-group.com

Devere Group's reply to:

Devere Group review: Iyad Hayel Stay away from us

We take pride in our reputation, so thank you for bringing this to our attention! We apologise for any inconvenience caused and can assure you that we will be contacting the individual to ensure this situation gets resolved.
Furthermore, in order to stop this practice continuing, we would urge you to provide all the evidence you have and send it to our legal department on legal@devere-worldwide.com, so we can work with local regulators and law enforcement to prevent this happening again.
Review
#1131656 Review #1131656 is a subjective opinion of poster.
Reason of review
Poor customer service

He is continuing to call us saying he works for deVere. He has been asking for money.

He now goes by Ian. please do something about this guy. He has called us repeatedly asking for money. then he offered us some internet deals saying he has gold connections around the world.

He also claims to work with Lux and Swiss banks. He then said he can open accounts for us where we can invest every month. We said no because we realize he is a conman. Stay away from Iayd Hayel, he is a vile toxic person that lies and cheats.

Please check because he is still using DeVere business cards. you must take this vile person to court.

Devere Group's reply to:

Devere Group review in Dubai, Dubai: DeVere have lost my wife and I a lot of money and caused us a lot of stress

Dear Mr Keown,

Further to your original complaint on Pissed Consumer, we have raised your queries with the respective teams who have both been in contact with you in the meantime. Additionally, external lawyers acting on behalf of deVere Group have also made contact with you in order to give a comprehensive update with regards to the Strategic Growth fund. It is of our understanding that you replied back confirming that the explanation provided answered all your questions perfectly. Furthermore, the Financial Adviser appointed, Rashpal Rani Singh, has contacted you regarding your policy, hence why we now believe that there are no further issues outstanding at this stage. Should you, however, have anything else you would like clarification on, please do not hesitate to contact us again.
Review
#1113449 Review #1113449 is a subjective opinion of poster.
Reason of review
Bad quality
Preferred solution
Full refund of initial investment value for the 2 policies performing extremely poorly plus reparation for loss of gains on the invested value over the investment period, considering world developed mkt. equities have increased by 110% in that period.
Devere Group review - 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