Peter A Skr

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Verified Reviewer

The worst investment decision of my life.

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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.

deVere Group Reply:
Dear Mr.Aquilina,
We are sorry to hear about your situation and that your experience didn’t match your expectations. At deVere Group, our aim is to provide expert advice to clients all over the world and we take complaints very seriously. We understand that the company you had invested your money with (which was not deVere), transferred your surrendered monies to you on 5th March with a full statement.
Regards,
deVere Group
View full review
Loss:
$12000
Preferred solution:

Deliver product or service ordered

Susan B Tkm

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Total of loss of investment

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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.

deVere Group Reply:
Dear Mrs.Briggs,
We are sorry your experience didn’t match your expectations. As a company, we consistently strive to reach high standards and ensure client satisfaction is upheld.
It appears we don’t have any record of a complaint, therefore we will arrange for you to be contacted as soon as possible to discuss your concerns and give full details of our complaints procedure if your concerns cannot be successfully resolved.
Regards,
deVere Group
View full review
Loss:
$25000
Preferred solution:

Full refund

the p Mdo
map-marker Washington, District Of Columbia

deVere Group - DeVere (aka Nigel Green) fraud, scam and sexual harassment

deVere Group - DeVere (aka Nigel Green) fraud, scam and sexual harassment
deVere Group - DeVere (aka Nigel Green) fraud, scam and sexual harassment - Image 2

Not happy with cheating hundreds of expats out of their hard-earned retirement money by promising high-yielding bogus investments, De Vere is a world-class scammer of unsuspecting new financial consultant recruits.

The recruits are treated to a glossy 'recruitment presentation' and encouraged to ignore all negative postings on the Internet about De Vere scams. Then they are promised the world if they come to work for De Vere:-

£100K to £500K in more or less guaranteed fees

Freedom to work at any De Vere offices worldwide

Free training to qualify as Stockbrokers

De Vere-covered visas and 'assistance' with relocation.

Sounds like a dream? Well, it is - a nightmare! Here is a reality check:-

You will probably earn around £50k to £80K gross from which you will have to deduct:-

a) 20% of your income for your secretary/ co-ordinator;

b) 50% of her accommodation will need to be covered by you;

c) You will need to pay ALL her travelling and relocation expenses (could be expensive, if she is not your wife!);

d) you will need to pay your share of office expenses and ALL costs of your office telephone bill;

e) you will need to cover ALL your relocation and visa processing costs - they will give you no help other than a letter saying that they have offered you a job as an independent;

f) to get to your De Vere office, expect to have at least £20k saved up - you will need it in your first two months;

g) be prepared to wait and wait for your commissions and be prepared for *** after *** why it is delayed!

h) be prepared for prospects cancelling appointments after reading up about De Vere scams on the Internet and be prepared for De vere to blame you for that (isn't life a ***

To find out more about what you are in for if you are *** enough not to listen to what other ex employees have to say about them on the Internet, read the attachment. It has notes on the standard offer letter you can expect from these scammers.

De Vere is in for a name change for sure - why not "BEWARE!"

deVere Group Reply:
deVere Group consultants are not required to pay any office costs. A career with deVere is not easy by any means and is not suitable for the vast range of people. However those that do work hard and offer the best financial advice deVere have become synonymous for, will benefit from a successful career in international financial advice. Commissions are paid weekly and are rarely held up.
View full review
10 comments
Guest

Sounds like you will do well at devere my friend, fighting talk is something they know well. Just make sure you have enough money (at least 15k) and don't say you have not been warned or seen the writing on the wall.

Good luck, you'll certainly need lots of that.

Guest

What is really goin on here?? I went to the meeting in London the other day it was hosted by Nigel Green, its all seems plausable, if what I read is true why doesn't somebody kick his head in,,??

if everyone can get thru the interview and then the meeting surely somone who was burned by devere would have thought it to get friend to apply go thru the motions so you can be sure where Nigel green is and give him a piece of your mind!! I'm Just saying, it wouldn't be difficult would it??

Guest

Sounds like a great company to wok for, not. Why do so many people fall for their BS? I guess there's one born every minute, if something sounds too good to be true it probably is.

Deverie has a dreadful reputation globally, not just from past employees. There is plenty of feedback from customers past & present.

What kind of company makes its employees pay the office rent? Scammers that's who.

Guest

devere are implicated in scams all over the world, you've only have to search google to see what these scammsters are about. They stole over 12K off a blind person in UK.

All their products are fully loaded with commissions, front and back end. If you want to see your investment plummet in value, have little or no contact, deal with non qualified sales staff, go with devere.

Brewmeanother

deverie can't get away from it... They are scammers of the highest order, go boys go... make some more money before you're all locked up for a very long time.

Guest

Everything this poster has said is true, Devere are a dreadful company to work for. Sales, sales, sales, never putting the customer first.

I know because I worked or them, made lots of money, followed their lead. I couldn't continue ripping people off, I'm now looking for a better opportunity with a real company.

Stay away from these thieves they will take you for everything. Devere deserve all they get on here.

Guest

Everything this poster has said is true, Devere are a dreadful company to work for. Sales, sales, sales, never putting the customer first.

I know because I worked or them, made lots of money, followed their lead. I couldn't continue ripping people off, I'm now looking for a better opportunity with a real company.

Stay away from these thieves they will take you or everything. Devere deserve all they get on here.

Guest

lots of comments, so little action.

what are the people commenting on this blog going to do about the issues they have raised?

Guest

It's true, This company is terrible. Bullies and do very little for the customer.

I now work for a competitor and they are warm friendly provide good training and are Very customer focused.

Guest

Wow ThePissed, two seperate posts. You must be a VERY angry 26 year old pretty, blond Bulgarian...

View more comments (9)
iain P

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker London, England

DeVere sold me a 'stable' pension in defunct Strategic Growth Fund

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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.

deVere Group Reply:
Dear Mr.Pitt,
We would like to reiterate how sorry we are and extremely disappointed to hear about your experience. We are aware that you had filed a formal complaint back in 2018 and already had been contacted by the Head of Risk and Compliance, stating that deVere SA operated on a different FAIS License up to beginning of 2015. This license allowed them to sell the product you had invested in. deVere changed to a different FAIS licence and were no longer able to provide advice on your product. However you had the option to deal directly with the product provider.
Regards
deVere Group
View full review
Loss:
$10000
Preferred solution:

Apology

David C Kwt

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer

Total scam

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deVere Group - Total scam
deVere Group - Total scam - Image 2
deVere Group - Total scam - Image 3
deVere Group - Total scam - Image 4

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

deVere Group Reply:
Dear Mr.Chapman,
We are extremely sorry to hear you are not pleased with our service. As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. As you are fully aware, we have already pointed out to you that your complaint had been fully investigated and found to be without merit. In June 2019 we asked you on a different platform, to supply evidence to support your allegations, which you did not. We cannot add anything further.
Regards
deVere Group
View full review
Loss:
$13000
Preferred solution:

Let the company propose a solution

Dineo M Bla

This review is from a real person who provided valid contact information and hasn't been caught misusing, spamming or abusing our website. Check our FAQ

Verified Reviewer
| map-marker Dubai, Dubai

Frustrated with process of getting paid surrender value of my policy!

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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.

deVere Group Reply:
deVere do not own any entity in SA and the client is in error, her issues are with Brite Advisors, to whom the entity was sold at the start of this year and changed its name in January.
View full review
Loss:
$29000
Preferred solution:

Full refund

Starlene Bxy
map-marker London, England

Financial Advisor

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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.

deVere Group Reply:
Dear Sir/Madam,

As a company, we consistently strive to reach the high standards expected of us by our clients. Nonetheless, we do understand that issues may arise, and we are always very willing to clear up any queries or complaints our clients may have. Unfortunately, we cannot find your details as a client on our database. Therefore, would you be kind enough to make direct contact with us on clientrelations@devere-group.com to provide us with further information so that we may identify you and receive any evidence in respect of your experience?

Regards,
deVere Group
View full review
Stephen P Iyr

5 Years I lost money and the investment companies made £6250.

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I moved my small QROPS of £58000 and 5 years later in a period of financial growth of about 10% per year I made a loss and they took £6250 in fees. How can this be legitimate.

So disappointed and a little angry. Trust once lost is never recovered.

deVere Group Reply:
Dear Mr.Powell,

We are extremely sorry to hear you are not pleased with our service. As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. Our understanding is that you have already been contacted on a separate platform and the matter is currently being looked into. However, should you have any inquiry or require further assistance, please let us know.

Regards,
deVere Group
View full review
Pros:
  • Global scope
  • First contact was very professional
Cons:
  • Lack of transparency
  • Do not side with clients
  • Questionable advice given environment and customer profile
Reason of review:
I lost money over 5 years of them advising me. They suggested a 7% growth which would mean 58,000 would become 81,348 over 5 years.
Loss:
$23000
Preferred solution:

Let the company propose a solution

EDNEI R

Resolved: Appalling Quality of Financial Advisors

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Updated by user Oct 09, 2019

I was contacted by their Costumer care representative with an adequate solution to my concerns.

Original review Oct 08, 2019

It seems like I only contact by the Finacial Advisor when it is of their interest to sell new products or if I provide the contact number for potential new clients.

It is VERY DISAPPOINTING!

deVere Group Reply:
Dear Mr.Ednei Romano,

Our understanding is that a representative from deVere Group will make contact and shall be assisting you with your complaint. However, should you have any inquiry or require further assistance, please let us know.

Regards,
deVere Group
View full review
Cons:
  • Anything once they had my cash
  • High charges
  • Intransparent
Reason of review:
Poor customer service
Preferred solution:

Let the company propose a solution

William T Pgv

Devere are the worst

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Updated by user Oct 09, 2019

Client Services for DeVere did contact me after my post on this site and investigated my complaint.Regarding my GB 14,000 + loss from the Strategic Growth fund they write that "with Hindsight and knowledge that the advice given by DeVere appeared to be poor"... Opening a new generali Savings fund in place of topping up existing fund was Suitable for my needs and that full policy details were provided.

The end paragraph from DeVere was that if I have any further evidence in my dispute they would be prepared to reconsider but if I remain dissatisfied then I should seek legal advise!In my humble view it looked like a lawyer had written the e-mail.If they had offered a gesture of good will for my losses it would have been welcomed, but they don't have the common sense to understand that I would never ever return my portfolio to Devere or recommend the company to colleagues or contacts who might ask for advise or add this damming conclusion to be shared world wide. ...….

Original review Aug 25, 2019

Several years ago DeVere moved assets in my QROPS, without approval, then lost money by opening a new savings account with Generali instead of Amending the existing simply to get commissions, I find this out at a later date when I finally found a trustworthy Adviser, but the really difficult part is DeVere keep calling me and asking me to return which is no only unprofessional but extremely annoying ..

deVere Group Reply:
Dear Mr.Collins,

We are extremely sorry and disappointed to hear that you are not satisfied with deVere’s services. As a company, we consistently strive to reach the high standards expected of us with our clients. Nonetheless, we do understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Kindly note, Client Relations will contact you directly.

Regards
deVere Group
View full review
Cons:
  • Losing pension money to an inappropriate product
  • Pressure applied by the consultant and his assistant
  • Anything once they had my cash
Reason of review:
Bad quality
Loss:
$13000
Preferred solution:

Full refund

Olof K

Generali Vision sold by deVere

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As many others i hav lost much money due to the misguided advice from deVere. In particular the failed Strategic Growth Fund, but also manual processing errors on deVere's side are main contributors.

Apparently the Generali Vision is called now Utmost Vision, without any information, and today i got informed that Utmost Wealth Solutions have made calculations mistakes and as a result must adjust my plan value down 10kEUR.

Outrageous! Can anyone be trusted in this industry?

Any advice on good legal support for this case welcome.

deVere Group Reply:
Dear Mr.Krantz,

We are deeply sorry to hear that you are unhappy with our services. One of our top priorities is to ensure that client satisfaction is maintained. In the light of this, our dedicated Client Relations Department will revert back shortly on a separate platform.

Regards,
deVere Group
View full review
Pros:
  • Good first impression
  • Keeps contact
Cons:
  • Intransparent
  • Poor advice
  • Take no responsibilities for own mistakes
Reason of review:
Damaged or defective
Loss:
$10000
Preferred solution:

Full refund

Armando I
map-marker Manhattan, New York

Unauthorized Charges to GAM Star Growth Strategy Fund C

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My name is Armando Petrozzi, with Plan Number 9402****. Invested US$62000 but now my plan value is US$52,000.

Despite the fund itseflf has shown 25% profitability in the last 5 years the value of my plan has shown LOSSES of US$9000 due to charges made by DeVere.

I have written my assigned relationship with no response.

I will wait until this week for a formal response. If negative, will start legal actions to recover the funds.

deVere Group Reply:
Dear Mr.Petrozzi,

We are extremely sorry to hear you are not pleased by our service. As a company, we consistently strive to reach the high standards and ensure client satisfaction is upheld. Our understanding is that a representative from the Client Services team will make contact and shall be assisting you with your needs. However, should have any inquiry or require further assistance, please let us know.

Regards,
DeVere Group
View full review
Reason of review:
Damaged or defective
Loss:
$10
Preferred solution:

Full refund

Keglsd
map-marker London, England

Devere Unsolicited Calls - STOP USING LINKEDIN AS YOUR TELEPHONE BOOK

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Hi,

I'm on Linked in as are many millions of others.

Like many millions of others I have moved around due to my senior roles; this is demonstrated by my role locations in my profile.

Every week I seek your people stalking my profile.

Devere - This does NOT give you the right to screen my profile, obtain my details and then continue to call every 2 weeks asking about where my pension is - I know you are doing this to many others.

I've been polite 30 times and explained NO and asked for you to remove me from your lists...only to find a different person then calling me a week later.

Completely Unprofessional. I will be speaking with LinkedIn about your practices including obtaining contact information & asking for your company to have access removed

deVere Group Reply:
Dear Mr.Gibbs,

As a company, we consistently strive to reach the high standards for our clients. However, we understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Kindly confirm whether you would like our Client Services team to contact you directly to discuss the matter.

Regards,
deVere Group
View full review
Reason of review:
Unsolicited Calls, Using LinkedIn for Sales
Preferred solution:

Let the company propose a solution

Barnaby M
map-marker Schwalbach, Hesse

Please stop calling! Your agents are rude and disingenuous

Despite repeated requests over the last 2 1/2 years to stop and remove my name and number from their database, the cold-call team in Dubai just will not desist.

After first moving to Dubai over 2 years ago, I received a call from an agent who was very rude when I told him I wasn't looking for financial advice so I requested that no-one from de Vere contact me again.

Unfortunately, they have persisted to call my office regularly, and only today a woman called "Anna" phoned my colleague asking to speak to me and that she knew me.

When I called back, (clearly she did not know me) she made up some BS about me liking a de Vere Facebook post about UK tax advice and tried to sell their financial services.

I understand that the market is competitive but to have agents be rude when declining their services or deceptive when trying to sell services is not the way to go about it. Equally, to continue calling even after having been asked to stop has now led me to write this review.

I'm pretty sure that having requested to have my name removed from their database, still being contacted is likely to breach GDPR

Please stop, this is not the way to do business

deVere Group Reply:
Dear Mr.Kay,

We are tremendously sorry and extremely disappointed to hear that you are not satisfied with deVere’s services. As a company, we consistently strive to reach the high standards expected of us by our clients. Nonetheless, we do understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Please confirm whether you would like our Client Services team to contact you directly to discuss the matter.

Regards,
deVere Group
View full review
Reason of review:
Poor customer service
Preferred solution:

Just stop calling me and remove my information from their database

RICHARD P Mdz
map-marker Geneva, Geneva

deVere Group - Loss of strategic growth fund investment in Providence QROPS

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I received some unwelcome news at the beginning of Februaury from the administrators of this plan STM Malta – essentially that with little prospect of any money being realised from the assets of the suspended PLL UAM Strategic Growth Fund the value of this investment is in effect being written off.

The facts as I see them are these:

•Paul Dodds of your Geneva office invested a transfer value of £99,354.66 into this QROPs plan and of that invested roughly 15% into the strategic growth fund in two tranches: an initial £14900.20 on 17.10.2017 and £702.23 on 26.11.2012.

•Less than two months later in February 2013 it appears that the fund was suspended. This nominal investment amount has sat there in stasis ever since while charges are being incurred. It has now been written off.

•Over the past seven years then the value of this pension fund has fallen from it’s initial transfer value to approximately £94,000 despite the length and strength of the bull market since 2010.

•I do not believe I have received any guidance on the nature of the investment in the strategic growth fund nor any formal communication about this situation from deVere despite the company still being named as the advisor on this plan. There was no advice on the illiquid nature of the products this fund has invested in nor during my update conversations with Paul Dodds any communications about its suspension.

I wrote to Paul Dodds directly about this matter on 16 February 2019 by recorded delivery to the deVere office at ROute de l'Aéroport in Geneva. Interestingly the post returned my letter yesterday unopened with the notification, translated, that the receiver could not be found at this address. Paul Dodds is still named as a director on the register of commerce.

I look forward to your response.

deVere Group Reply:
Dear Mr.Payne,

As a company, we strive to reach high standards and make sure customer satisfaction is maintained at all times. However, we understand that issues may arise and we are always very willing to clear up any queries or complaints our clients may have. Please note our Client Relations team will contact you directly, as soon as possible.
View full review
Cons:
  • Losing pension money to an inappropriate product
Reason of review:
Poor customer service
Loss:
$20000
Preferred solution:

Full refund