Devere Group's reply to:
Devere Group - The Truth about DeVere
I recently attended a presentation in the US for the DeVere IFA role and it was as professional as could be and they clearly expressed the knowledge of the sophisticated tax sheltered products they offer. I've been licensed in the securities industry for just over 10 years, first with a major bank that only allowed you to sell their own products, then for independent brokerages and at the end of the being a financial advisor is a SALES JOB!
It seems that all of the complaints here are from people who were just looking to collect a paycheck. The saying in this industry at least here in the US is "YOU EAT WHAT YOU KILL" this business isn't for the weak and weary.
I was just offered a job by Merrill Lynch they require you to bring in 10 million in investable assets annually or they kick your a** to the curb. You operate in this industry essentially as an independent running your own business (under the flag of a major brand in some cases) and if you don't cut it you fail and find a new career. This is industry isn't for anyone.
I find it unfair to any person or organization where people make baseless claims. There's always 2 sides to a story!
Now with that being said, what I heard at the presentation I did find interesting. If what these boards are spatting are true how does Devere hold exclusive management agreements with Goldman Sachs, Morgan Stanley, JP Morgan. These are agreements where those firms actually manage the assets of the client. Plus,offer the Charles Schwab platform and products to US clients.
To make claims like that in the US and for them to not be true would result in raising the eyebrows of FINRA investigators which would lead to immediate revocation of licenses and criminal consequences.
If what I've read in the numerous posts is true why hasn't the FSA shut them down? If this is a scam why aren't the 60k customers flooding the message boards? How did they receive licenses in in NYC and Florida? How did they enter into agreement with Goldman Sachs, Morgan Stanley, JP Morgan and Charles Schwab (which as a firm you need to house $10 million in assets for clients)?
Just some questions that I have that haven't been answered in the numerous posts flying around this site. It seems like just pissed off ex employees who failed at their job and cant provide any real proof to their claims are on here.
I haven't read one post from a Pissed Off client, have you?
I dont' work for DeVere but am considering the opportunity and I'm just looking for real proof of the claims that I've found here.