02072454429

Expat and Yorkshire Lad. I doubt he will have any case at all, which court do you approach, the Swiss will not want to know at all and the cost, OMG. He just needs to put it down to experience like many before him. If he did not have a permie B or G he might be able to put some pressure on, Nigel hates to be dragged into these things and his mobile is easy to get!

Interesting points there;
scare mongers on one side and small opportunists on the other.
choice is simple, if you dont know about finance dont bother gunning an organisation you dont know. and those on the other side scare mongering about tax evasion, not being regulated by FSA, my point is what has regulation done? the biggest culprits are your OWN high street banks, white collar bankers and professionals in the industry who should have had ethics in their heart. today where have they landed us in? ASK ASK ASK?
To the lawyer quivering over tax evasion issue, the answer to your question is they are not breaking the law as certain investments bare tax at source (do your homework before expressing opinion pal).

Company is real and i know someone who went there for 6 weeks and came back after 18 months with £160k - he knew nothing about finance and is now well clued on. Its the job for you if you got the balls for it - otherwise please dont rattle, ive heard enough pesimism .
Be British, be proud and be positive! we really have lost our feet in the world and all we're known as a nation of wingers - lets get over it, zip it and use the grey matter for a cause.

only we can get ourselves a better future, by pulling our fingers out. Period

It's a tough industry, I work for one of their rivals (as a consultant). Been here two months now in Bangkok, my wife is Thai but remained in the UK up until I can earn enough to support her and our three young kids in Bangkok. My company is a bit different to deVeres in that it's a lot more laid back, there are about 8 or 9 consultants in the office and about the same amount of coordinators. We have the option of buying solid leads off coordinators and bunging them 10% of our net comms (between 45 and 60% of gross), hiring our own coordinators (1,000 THB per day) or going at the phones alone.
The directors NEVER steal leads. The policy is if you find the prospect then he's yours forever.
We've got 2 guys that have come over from DV, and they both looked completely burnt out. After a few weeks they're starting to look a bit healthier and have stopped shouting on the phone as much.

"To the lawyer quivering over tax evasion issue, the answer to your question is they are not breaking the law as certain investments bare tax at source (do your homework before expressing opinion pal)."

Good try, but this tax expert possibly knows more about tax than a Devere salesman: http://www.taxresearch.org.uk/Blog/2008/12/05 ... ve-explanation/

Was, many fair points, think the knowledge of finance is limited though as this is a limited sphere.

If he returned after 18 months, why was that as I doubt he could earn more elsewhere and what happened to the clients that he had promised to service during that 18 months? They are now in the mass that have no servicing IFA as the Inext "IFA" off the boat (or plane) can't earn any money as the client has already been raped. For DVP they can earn 2.5% of annual premium year in and year out and the clients first 18 -24 months of regular premium is trapped and worthless until a long way in the future.

As you said don't quote unless you know all the facts from all the angles, which my friend I actually do!

Yorkshirelad and Was, read that and the guy is getting some wires crossed and obviously the DVP salesman does not understand what he is talking about. This is a complex issue in some ways but in others quite simply and also relates to each country in a different way. In essence there is a tax free roll up as tax is not deducted at source and the "Bonds" AKA wrappers are not caught under the same rules as bank deposits with witholding tax. The rules around tax declaration and declarartion of information is not the same for International Life Offices in specific jurisications as for banks and these life offices are well regulated and fully compliant and in "white locations".

In Switzerland as long as you are tax resident there there is no capital gain and thses products have an internal capital gain, they may however need to be declared for wealth tax purposes but in anycase other investments do as well. So in fact there is not tax dodging just a tax efficient solution in many ways and a tax effective solution if you return to the UK, a calculation which is agreeed with UK HMRC. If you ain't a Brit or a Brit that does not come back to the UK the rules can be better.

The idea is that you can build a tax efficient, well structured portfolio held under strict rules in a very safe location (same S&P ratings as USA). If you want to tax evade you don't do it this way believe me.

Half the problem is the fools from DVP don't actually know the UK rules and have not got the first clue about the local rules and options (coz they don't sell them) and wouldn't understand managing a portfolio if their very life depended on it, coz they actually are in the main desparate people with about 20 quid to their name, not financially successful peoplein the main but obviously not all.

Sounds pretty complex.

Wonder how this works without tax evasion:
"deVere Group - International Financial Advisor – Spain...
31/10/2011...
Impressive uncapped tax free earnings"
http://www.cv-library.co.uk/list-jobs/242880/deVere%20Group.html

Yorkshirelad. Yes it can be, but in principal you outline the product and law around that, then there is the local angle, to be frank most local based tax advisers would not really understand the product, I have never come across one that does. In addition many countries including the UK have legitimate products that grow tax free or defer tax.

Understanding the local options is more difficult as you will never be taught this, why?

1 ) you would need to be qualified and/or regulated in the country to sell them and often they would be in a foreign language, and

2) Commissions are usually very small in line with UK proper.

The advert is true, but obviously made to sound a lot more grand. If they said 95% will fail, you will get limited support, we have a poor reputation in many areas, loads will have gone before you and messed up customers finance and pissed them off, etc. etc. some may not actually apply.

Now heres the rub MOST of the DVP advisers will be tax evaders themselves, by that I mean DVP encourage you to set up an account with an offshore bank in IoM to which they pay you and most people never declare their earnings to the UK (they may not need to, but there again they may need to) or indeed the country in which they are working. As most applicants derive from the UK that maybe an issue. DVP go on the basis that it is your responsiblilty so will not get caught in the cross fire which is fair enough I guess but nobody is encuraged to go legal.

If you want to have some fun, forward that add to the relevent tax authority for them to look at especially the IRS in Miami.

I am sorry old bloke. Most of your comments in this thread are well made but those from 10/11 to date are starting to show how out of touch you really are.

OMG

Really, I think not, but as you have made a statement please do enlighten me and the rest of the forum where you feel "I am out of touch", technical or on the [***] level and I would be happy to respond?

Tax free earnings in Miami too:
"deVere Group - International Financial Advisor – Miami...
31/10/2011...
Impressive uncapped tax free earnings..."
http://www.cv-library.co.uk/cgi-bin/view-job.cgi?jobref=101321323&s=100305

Yorkshirelad

That does seem a bit odd as on the whole nobody can earn tax free certainly not in the US, Europe or Asia. Middle East yes possibly but in reality what they are saying is they will pay you and you will not pay any tax which I do not believe would be the case unless you do not declare it in which case you would be taxed somewhere believe me.

OMG has stated that I am out of date but if he/she cares to advise which countries are "tax free" I will be interested to see.

OMG I await your pearls of immense wisdom and your corrections of where I am going wrong in my comments?

Tax Free earnings , possible, but fraught with danger. So where do you deposit these supposed earnings now ? IOM ? C/I, Switzerland ..........errrrr nope of course not, they are all party to disclosure of UK nationals accounts. Very silly to offer anyone tax free earnings in these days as they could be guilty of aiding or abetting fraud . And, just like Nigel Greens suits ...........their promises are 'stuck in the 90's' !!!!! Get a better tailor Nigel, you can afford it , twin breast and black really doesn't suit you lovey !!!!!

Nemesis

It would be better to say "money that is paid free from tax but maybe subject to local arrangements or UK arrangements" so it could still be quite tax effective when you take into account costs of running your "SELF EMPLOYED" business for DVP. Most of the guys in truth are small beer earners that don't last long so hardly a drain on HMRC. Interestingly the rules on out of the country are changing and are now part of legislation rather than guidance.

Most of the people I knew just paid it in to their Lloyds IoM or Standard Bank IoM account and never declared it, or part declared it and that was their tax structuring, nice.

OMG hasn't delivered the pearls yet, bet that there aren't any! She/he was probably a DVP recruiter or somebody that has been with them five minutes, we wait with baited breath.

Feeling the burnout as well... Have you got any job4me?

Devere is suing a site called PissedConsumer: http://www.jdsupra.com/post/documentViewer.as ... c0-8fa84ade50c3

The action is a bit heavy going and seems all about trade marks. Hey ho.

How to sum up working at devere...If you put the effort in work hard and try your best they support you 110% the money they speak off in there presentation is real and achievable its down to you if your good at the job. I can tell you now it is not for everyone but for those who do give there best when they start the sky's the limit.

TTD, don't bother trying to manage the situation.

They "support you 110%"? You obviously work for deVere and and have been paid to say that.

But for the good of mankind, don't bother trying to wool over everyone's eyes.

DeVere is a sinking ship.

They prey on vulnerable individuals both for both consultants and clients and feed them bullsh1t. It's a scam, with non-qualified sales people touting high commission, high risk products that don't work in anyone's favour but for the top managers in the company.

Luckily I have not worked for and nor have I been a client but sadly I know a lot about them.

I would warn everyone to steer well clear.