Reply by Devere Group

It is unfortunate that Mr. Du Plessis has taken to such a posting that is wholly inaccurate.

Without wishing to breach Mr du Plessis’ confidentiality, we can confirm that his complaint was fully investigated by deVere Group and found to be without merit. He has received a full and comprehensive response to his complaint. deVere does not manage any funds. This is carried out by professional fund managers independent of deVere.

deVere’s consultants recommend investments to their clients using all information available to them at the time including performance, management and the clients’ own attitude to risk and expectations. However, any investment into the financial markets carries an element of risk and the greater the potential return sought, the higher the risk.

Should Mr du Plessis remain concerned, he has always been entitled to refer to the independent regulator or seek his own independent legal advice and deVere will be pleased to assist in any way possible. He himself refers to now doing this in his posting. We welcome that and will co-operate fully with the Regulator and any lawyers he instructs.
Maputo, Maputo

Update by user Aug 18, 2016

There answer is typical of what i am receiving for last 5 years and they are running away from their responsibility. I will advice all to stay away from them.

The fact is you acting on their advice and when it goes wrong they dont take responsibility or even try to take corrective actions.

Even now I am struggling for 2 months to withdraw the little bit of my funds that is left without success. Quite a few people in Mozambique had lost money due to their incompetence and ignorance

Original review posted by user Aug 15, 2016

Devere is not a company to deal with. They give you bad advice, take their commissions and then ran away.

In Mozambique they had even closed their offices when they realised there are to many unhappy customers in Mozambique. After they closed their offices here it took about 18 months before I was able to meet with a representative from their Zimbabwe office who apparently now oversees the operations in Mozambique. I was contacted on a few occasions with a request to meet a representative in Maputo. I agreed every time but it never happened.

A few of their own employees had even said to me the advice given to me was totally incorrect and my funds should not have been invested through the platform it was invested or invested in the funds it was invested in. it seems like they went for the highest commissions for themselves on not looking after my interests. I lost more than USD 200 000 due to their bad advice and are still loosing today as I am trying to get out but it seems like it is impossible or Devere does not want to assist in this. I just can not get answers out of them.

Even their client relations does not give you satisfactory answers. I had tried that route and took them about 4 weeks to give a very unsatisfactorily answer. My advice stay away from Devere if you want to keep your money safe. It is my plan to report them to the ombudsman and my attorney is working on the submission.

Entities like these should be closed down by the authorities world wide. I don't hide therefore herewith my contact details: Email: Tel no +258 823083630

Product or Service Mentioned: Devere Group Consulting Service.

Reason of review: Bad quality.

Monetary Loss: $250000.

Preferred solution: Full refund.

Devere Group Cons: Bad advice, Incompetent, High charges.

  • Devere Group Mozambique
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