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Are devere the same company as sovereign international? If so does anyone know what its like to be working as a coordinator for sovereign. Sounds great but any hands on experience would be very welcome.

They are connected. Devere is reported to have helped set up an offshore pensions company called Providence Life (http://www.international-adviser.com/11146/de ... ed-life-company), whose products include the Providence Capital Personal Pension Plan (http://www.providence-capital-qrops.com/) and the Atlam QNUPS (http://www.atlam-qnups.com).
The application form for the Providence Capital Personal Pension Plan (http://www.providence-capital-qrops.com/Forms ... P-App-Form).pdf) states "I have been informed that the trustee is Sovereign Trust (Guernsey) Limited of Suite W4, Sarnia House, Le Truchot, St Peter Port, Guernsey, GY1 1GR and acknowledge their position as trustee and administrators of the Pension Plan."
The deed of adherence for the Atlam QNUPS (http://www.atlam-qnups.com/pdf/CM2532%20Atlam ... d%20booklet.pdf) states "“the Scheme” means “Providence Capital Personal Pension Plan”" and "The Member wishes to transfer his assets, as detailed in Appendix 1 hereof, to the Atlam Personal Pension Plan of which Sovereign Trust (Guernsey) Limited will be the Trustees".
So Sovereign Trust are the trustees for those pension products offered by the offshore pension company which Devere helped to set up.
Sovereign Trust shares a manager with Devere Group (compare names at end of entries):
http://www.rc2.vd.ch/registres/hrcintapp-pub/ ... &ofrcLanguage=4
http://zh.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0
Someone else from Sovereign was recruited to Devere earlier this year: https://www.devere-group.com/news/Reece-Falla ... department.aspx

Sovereign Trust is connected to the Sovereign Group (named at end of entry for Sovereign Trust: http://www.rc2.vd.ch/registres/hrcintapp-pub/ ... &ofrcLanguage=4)

Sovereign International (http://www.sovereigninternational.com/) claims to be part of the Sovereign Group:
"Sovereign International is a member of the Sovereign Group of Companies"
http://www.sovereigninternational.com/

Joe thank you thats really helpful.
Seems like a right minefield to me with companies under different names and different locations. Been pretty hard to get my head around it.
Thanks again.
Paul

Clients of Devere are offered the opportunity to invest in funds managed by two Swiss-registered companies, United Asset Management and Valais Investment Management.
Until recently, Devere's CEO, Nigel Green, was named in the Swiss business register as a partner in these companies (http://vs.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0, http://vs.powernet.ch/webservices/inet/HRG/HR ... 0&lang=4&sort=0). His name has now been scored out and replaced with the name of a Gibraltar company, Frontier Holdings Limited (company 102719), a private limited company (http://opencorporates.com/companies/gi/102719).

"A Gibraltar company is required to maintain a registered office in Gibraltar where the Statutory Books are kept. In the case of private company a sole director is permitted, although a minimum of two is advisable. "
http://www.gibraltar.gov.uk/business/incorporating_company.php

Recent video interview with Devere's CEO: http://www.international-adviser.com/video/ia ... nterview-part-1

If DeVere employees are virtually illiterate (witness TTD's post), what hope have they got of being able to advise expatriates on their asset management? DeVere recruits people already marginalised from the British workforce, as gullible as its clients but also immoral and greedy for commission. The media and European regulators are closing in on them, mark my words.

If you think your a con man you can't be doing it right .
It's a profession and clowns like you give it a bad name .

Huge promotional article in "International Adviser": https://www.devere-group.com/pdf/deVere-Group-International-Adviser.pdf

International Advisor and DeVere have a very cosey relationship.Several times a month they run a positive spin article  about Devere,to the point that one has to ask " Exactly what is their relationship ?" Seems to me,given the regular, glowing reports, that Devere may be paying International Advisor,or that they are shareholders in the company maybe. Anyone have any info to explain this cosey relationship ?

I can't explain the cosy relationship. However I know enough about the industry and IA to appreciate that the magazine is total rubbish, and is to truthful, accurate reporting what Hitler was to consensus politics. But why does everyone have a 'pop' at deVere. They only operate as they do because the industry allows them to, and they are not the only ones. At least a dozen intermediaries that I am aware of, the product providers, regulators, the press (IA) etc all show a degree of ineptitude and lack of client-focus that is staggering. Don't blame deVere - they operate in a rotten industry.

No they are not but similar operation and loads of ex DVP people so same old rubbish to deal with.

Well thats not really how it is, I can tell you.

Totally agree. Given the very high turnover of DVp staff they have to go somewhere

Totally agree again, old bloke. Everything that comes out in the financial services press about intermediaries (and that is all f them) must be treated with a pinch of salt

I used to work for two companies in three places and thought I would shed a bit of light and truth on the matters mentioned.

1/ Yes you can make money and a lot of it though it takes time and hard work.
2/ Most of the companies are the same and are often unregulated. A good way to check if they are genuine is to see if they operate in Singapore. There they do not offer any new licenses at the moment (from what I can gather) and all the unscrupulous ones have been kicked out.
3/ You need at least £10,000 minimum to bank roll yourself as it takes time to build a client base and only then do you start to make money. At least a year down the line.
4/ It is purely self employed and any advance/basic, etc comes out of future commission. The best you will get is 3 months accommodation or a flight.
5/ For those expats complaining yes you do get cold called. How do you think any business makes money and gains clients? Open the doors and wait for them to come in? All sales people earn commission or a bonus too and cold calling happens in every business there is.
6/ The products are fine as long as they are sold correctly and explained properly. You would not sign a 50 year old to a 25 year savings plan. Also the plan needs to be paid into for the length of its term. The main thing that distinguishes the companies is the fund managers. How does a sales person/ifa, etc know what funds to put this money into? Most firms do not have fund managers and that is why the returns are often bad. If invested correctly you are likely to get a decent return after all they set up with the likes of Friends Provident & Zurich. All operating and regulated in the UK by the FSA. Its not he product but the explanations and lies of selling it and the lack of qualified (or anyone) fund managers managing the investments.

Essentially do not even contemplate joining any offshore company unless you have at least £10k (£30k preferable) behind you, a year + of hard work and able to work on your own. Do this and with a reputable company and you are likely to make money eventually. Essentially the company does not matter as you are operating under them just to be able to sell the products. Just make sure that there are no/low office charges and a decent percentage (4%+ on lump sums). It is extremely hard, sole destroying and only say 5 out of 100 will make it. This is NOT a get quick rich scheme!

"... Also the plan needs to be paid into for the length of its term."
That's because paying in for the length of the term is the only way that the client has any hope of recouping their losses (unless they want to take legal action for being missold the product). There's no guarantee that the client will ever make a profit even if they keep paying in. The only thing that is guaranteed is losses through market fluctuation, ongoing fees, penalties and upfront commission taken off the client's savings. The client is then left to play catch-up.

"The products are fine as long as they are sold correctly and explained properly"
The products may be fine for the salesmen/brokerages who misrepresent them in order to get a sale on behalf of the insurance companies but they're not so fine for the clients.

Abouit sums it up and in line with previous posts that I have made.

I have to say I was speaking to a "pack" of current and recent ex DVp people and believe me nothing has changed at all, given all the BS and now all looking to leave or going home with tails between legs. That was 5 from one office!

Don't agree with your sweeping comments, products are OK but front end commission loaded and cannot be broken at an early stage without a large cost of fees depending upon overall term.

But you can make money quite easily if you know what you are actually doing..... at the end of the day it's only unit trusts that you are working with, good ones and bad ones!

It really is not that hard but most "advisers" run the term too long to max out comms and then fail or don't manage the clients product at all and it all turns to [***]!

David Simpson? There is some guy called Dave who works for the same company in Malaysia.

Correction - David Taylor