Devere Group's reply to:
Devere Group - The World of Expat Adviser Sharks
As a UK & Offshore professionally qualified assets manager of 24+ years experience in both the UK & throughout S.E. Asia, with over 600 articles published as a lead financial affairs columnist, I know all there is to know about Expat IFA's, Boiler-roomer's, fraudulent Ponzi scams, SEC investor alerts, & the tactics of De Vere plus many other consultancy groups in Thailand & beyond.
Like most, DV contracts ex:' direct sales ' advisers for the closing ability, and not their qualifications, on a commission only basis.
They are taught what financial products they are allowed to sell instead of being allowed to give truly independent advice. Thus they make the MAXIMUM comm's for the company of which the advisers get a share pro-rata ! Their legitimate schemes (Scxx's) revolve around Fund Platform sales, and comm's ear'nt from Ponzi Fund placements via Life-Co Bonds & Platforms.
Some IFA company's in Thailand, ( e.g. ex Barclay Carrigan & PFS ) go so far as to set-up CTA Funds to enable them to divert client savings into such funds that eventually go down the toilet !
A large number of canvassers are ex boiler room, timeshare, & hotel incentive plan sellers ! In the end, all the decent & UK qualified staff leave in search of an Offshore IFA Company that is truly independent in providing a full range of professional advice without kow-towing to the diktat's of their board directors period ! Not a simple task !!!!
Reason of review: Other issue.
I didn't like: Being harassed.