deVere Group

I was sold a product that is in now way suitable to my needs. I made clear from the outset that I di not understand the paperwork and was trusting the advise my advisor was giving, to me.

She even filled in the forms for me. It is more than clear in my written correspondance with Amanada Bloomfield that I wanted a short term low cost investment, and find myself locked into a high cost investment for 10 years. I have started a complaints procedure, I was initally just told that I had fillen in the forms so that was that. I am awaiting a reply to my second email before contacting the omdudsmun.

I see from the comments I am not the only one with this same problem. Maybe time to act deVere

When I lived in Dubai, I was sold a policy so complex that it took significant time for a senior financial advisor and tax consultant in Australia to sort out what fees I was actually paying. As a brand new investor, I should have been told about the complexity and the problems with such a long-term investment.

Even as a lawyer, I did not comprehend just how convoluted and tricky the investment was. For example, I was never told that my fees would multiply exponentially when I increased my contributions. I was just told about the bonus and that I had to pay for 18 months. I should have been told that if I decrease my contributions later, my fees would still be calculated at the higher rate.

Furthermore, I raised this with my financial advisor and asked for his boss to contact me and have been simply ignored. That was years ago. They received full commission long ago, so there seems no incentive to provide customer service or to actually deal with my complaint.

If you don't know all the right questions to ask, Devere advisors are definitely not going to make sure you ask the right questions. As an inexperienced investor I needed guidance and my Devere/Acuma advisors instead just took advantage.

I am extremely irate with having 1% pa deducted from my pension fund (8% in total), by STM / PLL. I have requested documentation to indicate that I was made aware of this at the time of account opening and yet to receive?

I have the account opening documents and this was not disclosed to me.

Please will you advise re regulator that I can approach re PLL and STM. I plan to also go to the SA regulator.

deVere Group Zimbabwe is unscrupulous. Their existence and purpose is to conn their clients into thinking that they are guiding you into financial security!

You will be financially ruined and dare you try sort this out you will be given a generic standard response.

Dare you continue in your pursuit for the truth you will be contacted by lawyers representing devere with threats and accusations of defamation of character. lawyers with threats

A few years ago I invested into an auto-callable fund on the investment platform. Its only a small investment worth $74,000 and it has now matured, and for 2 months Ive been trying to withdraw the funds.

Before they could refund they wanted tax status information and then employment information prior to my retirement. Ive supplied that information and then was asked for the source of funds. I replied about a month ago and supplied my pension fund statement together with details of other investments.

Since that time Ive written repeatedly asking what further information they require as their website still shows waiting for proof of funds, but Im no longer receiving responses to my emails, from the platform help desk or my financial advisor.

I find it a bit odd as Ive used Devere in previous years without issue, but Im now at a complete loss as to what to do. strhould ask that when making the investment.

The worst investment decision of my life. The 2021 Stockmarket is at record high's and a 16yrs (based on their advice) old invest through Devere Indonesia the investment is at 40% of its initial value.

Is it high management fee's or bad advice? I will never know because they do not give you statements and it is very difficult for them to return correspondence. Once your money is there you will not get any management or correspondence. I am now jumping through hoops (5+ months) as they shift my file to and from office's around Asia, to retrieve a savings fund for my son education.

He is now close to graduation. So the idea of the fund was a joke. I am still wondering if I will see my money.

Devere has cost me more time and money... Stay away.

The Four Seasons Growth Plan.

A substantial Investment was made into an unregulated scheme, which was not suitable for my portfolio. I was not advised, not made aware of the risk and no communication followed during the suspension, it also appears that no action was/has been made by Devere to recover my investment.

Like many it seems I was given misguided advice from deVere in South Africa. In particular the failed Strategic Growth Fund. This was through what was called Generali Vision and now Utmost Vision.

Having finally seen a statement today it seems my ‘Pension’ that I was being sold has lost 50% of its value in a decade.

My dissatisfaction is well documented the continuous message that DeVere strive to excel in their advice is mind blowing. Are all the contributors to this site liars ?

Again I say to De Vere ,WHAT DO THE FOLLOWING WORDS MEAN TO YOU "THIS ADVICE REPORT IS VALID FOR 3 MONTHS" .

What do DeVere do ? buy very poor high commission funds 6 months after the report expired !and without any notification whatsoever quarterly reviews hav,nt had one yet even after 4 years, TAKE A LOOK AT THE ATTACHMENTS

I sent a request to surrender my policy on the 8th of May, I was asked to send more information which did not make sense and was from an automated email with little explanations. After several emails, I sent the required information on 13th May and I am still waiting for my funds!

It's bad enough that I have lost over $29,000 but they are taking forever to repay me whatever little they claim I am entitled to. This company is a huge scam and I will definitely warn anyone and everyone about investing their hard earned cash through one of their products. The response to m initial review proves my point, how can I not know what I am talking about. When I took this policy with Devere I was based in Dubai, not South Africa.

Devere does have offices in Dubai.

I have been contacting the Dubai office to get back my money so I know what I am talking about. Instead of asking for more information they come back with a stupid response.

This company accept absolutely no responsibility for their employees not honouring the promises they made when I invested the money. They offered me no advice despite the fact that they advertise themselves as investment advisors.

I still do not not know the status of the investment or whether they only exist on paper.

The local representative says he cannot advise me. No resolution at all.