Search on YouTube- Who stole my pension. Panorama documentary about the offshore company devere Group. Remember Stanford Group - its all about appearances, impressing, flashy websites...
They are a complete scam - the employees cannot even tell you the basics about the company - they seem to have such a high turnover .
Taken from the experience of a potential client who was pestered so many times (by four different people in three months) to have a meeting, after having cancelled several times, he said he will get back when he has time. They wouldnt let loose, till he found a day and time for a replacemtn and in fact, in the end he got curious and went to see them . After all, the claim to be "the world's largest independent financial advisor" lol.
"we have been around for 18 years" - website says founded in 2002... nothing like well-informed staff ;)
"we have offices in 54 countries" - Website says over 40 countries
"we are a financial adviser" - "we don't give financial advice, we are a broker"
"we don't manage money, we give it to third parties" - website boasts 7 or 8 bn AuM
- How are you remunerated?
"Well, err when we do a good job for example for Deutsche or Morgan Stanley, who all work with us, we err, get thank you presents".
- So you get kickbacks.
"No, fees for doing a good job. (looking sheepish)"
- But the others are doing the job, you are giving the money to manage - so why pay you?
"We are brokers." "you don't pay us anything." Website says financial advisors.
- Where is your Headoffice?
"we moved back to the UK". (Not regulated in Switzerland - and would never get the approval of a proper regulator, only some SRO - which is not worth the paper its stamped on.)
- Can I have an annual report?
"we don't have an annual report."
"We are a private company - founded by billionaire Nigel J. Green. Only he has the figures."
- Who is he? How did he come into wealth?"He started as a financial advisor like me (looking sheepish again)" (thought they are brokers...)
- How come I have never heard of the group? Has there been a name change? Nobody has ever heard of the group. But if you are so big and have so many clients, so many offices and so much staff, more people must have heard about you.
- Can I have a brochure?
"We don't have any brochures - its all on the internet."
- Can I have your business card?
"I don't have any business cards right now" (we are at his offices and he has apparently been with the company two years).
Office is basically empty, nobody really sitting and working, just lots of people moving around, clean, apart from some employees standing around and eyeing any prey, ahem visitor. Desks are empty and unsused. Looks all like a set-up job, will probably break up their tents and move out again soon - and change names. Does not look like a proper working environment. Very unpleasant athmosphere, the moment you step in. All eyes are on you. Meeting room is just a completely unprivate glass-box, like an aquarium. All staff are watching you whilst you are in there...like they are starved for a success...you literally feel they re going to pounce on you...they are desperate and hungry.
They also create their own press releases...
They hire graduates, unskilled sales people, preferrably people who know nothing about finance...