02072454429

LOL. I find it extremely unlikely that a totally unscrupulous sales company inhabited by ex used car salesmen would sponsor any of their staff to pass CISI examinations. All reports indicate that the only training one receives is a 7 day seminar in hard sales techniques. That alone should arouse suspicions: even if the training did consist of anything else how on earth one is expected to get to grips with the complex world of offshore financial planning in 7 days is completely beyond me. As for whether it is a scam or not it all depends on what your definition of scam is and who is being scammed. I do not doubt that this is a "job" or that one may be able to earn a relatively large amount of money. However there are several things to consider here. Firstly the company has a woeful reputation as did the now defunct Britex International which preceded it. Apart from the 7 day "training" a salesman is expected to pay all upfront costs and organise work permits etc.. As I mentioned above several of their staff were arrested in Singapore for working without such permits. The position is commission only and as such is a SELF EMPLOYED position. This is an important point as it means that the individual may be considered LEGALLY LIABLE for any of the shoddy advice given. This brings to mind the second point: the "advice" they invariably give is woeful and wholly inappropriate. It consists of conning an expat to invest in some pitiful long term offshore life insurance policy - usually relabelled as a savings or pension plan. Such plans often result in financial losses for the expat or legal tax complications. However these plans do pay huge commissions to the company who in turn will pay a percentage thereof to the salesman who in turn will pay 20% to his/her coordinator. These types of plans are ofcourse banned in the UK and other countries and for very good reasons. I'll post this link again which sums it all up nicely:
http://www.submityourarticle.com/articles/Hug ... triate-7681.php
So there you have it. If you are prepared to work as a self financing self employed salesman in a foreign country selling dodgy financial products to expats for which you may be held legally liable then fine. If you have no scruples in conning expats and are happy to destroy your own reputation and all to make Nigel Green money and get your cut then yes: you may well make some money. I'll let others decide whether or not it can be termed a scam or not.

Ah ofcourse. One of Devere Group's UK subsidiaries is CISI compliant. You are ofcourse completely correct: smoke and mirrors. As I said in my first post Green is rebranding Britex by utilising several separate entities to create an impression of apparent respectability and regulation. What some people might be unaware of is that self employed offshore salesmen selling plans to expats are not even remotely affected by the CISI regulations  (whether the UK subsidiary is or not)  as their sales take place outside the UK - otherwise they wouldn't be able to do what they do after a pitiful 7 day training course.

Hi Peter
May I ask you a few questions please as I am thinking of moving to Cyprus to take up this Job offer?
Where did you work? Where your leads or appointments of good quality?  How many appointments did you get a month? What percentage of your leads did you convert? Why did you leave?
Many thanks

Here's the proof that the CISI doesn't cover non-UK sales:

"Please note that a complaint to the Institute is not a substitute for using a firm’s established complaint handling procedure, nor can it cover complainants seeking financial redress, in which case complaints should be referred to the Financial Ombudsman Service."
http://www.secinst.co.uk/bookmark/genericform ... ainaboutamember

"We can help with complaints about most financial matters involving products and services provided in (or from) the UK. "
http://www.financial-ombudsman.org.uk/faq/answers/complaints_a2.html

So there you go. A nice rubber stamp to reassure the customer/potential recruit and give the company the veneer of respectibility. If you have a problem with their methods, tough luck.

Hehe... exactly! For example if you decide you wanna cash in one of the policies they sold you and then realise that all your premiums for the first two years have gone to pay Devere commissions and furthermore that you have signed a contract which obliges you to pay the offshore financial institution thousands of pounds in penalties for leaving the plan early: who can you complain to??? Noone - you're screwed. You soon figure out that UK regulations and protections don't apply to you as the plan is from an offshore (non UK) institution and was sold outside the UK from a self employed commission agent contracted to another Devere subsidiary. And this is exacly what has happened to many of their clients and why their name is mud. They're a bunch of spivs who would sell their granny for an easy buck. In all fairness it is conceivable that some recruits are lured in and don't realise the crap they're selling until a few months down the line. If they have any scruples they leave pretty quickly (their staff turnover is ridiculous which is why they need to be constantly recruiting new people year in year out). Some will stay on though - the aforementioned spivs. These spivs will then spout the old chestnut that not everybody can handle the tough sales environment, or working abroad etc...etc...This may be the case for some people but the simple truth is that once people realise that they are selling crap for a company with a sordid reputation they leave - often out of pocket themselves. Also worth noting that as an independent sales agent the Devere consultant may be held legally liable in the country in which they operate - if not the UK.

"Green is rebranding Britex by utilising several separate entities to create an impression of apparent respectability and regulation"
Like a set of Russian dolls, with Devere as the big mummy? Company 1 owns company 2 owns company 3... with company 5's products being recommended to clients. Nah, that would never happen...

http://www.offshorealert.com/message_board_detail.asp?id=14291&page=107

Hi , this Monday on Panaroma a expose on the IFA offshore market ...it is a must see , will be on you tube shortly
http://www.bbc.co.uk/programmes/b00vcrtg
If you want to work offshore this is the program to watch

The expose on offshore advisers will be on Panaroma this Monday the 3 October 2010
You can see it on the following link and will be posted here , could some one download it and post it on youtube as it will be blocked outside the UK , this is going to be a very big story.
http://www.bbc.co.uk/programmes/b006t14n

Panorama programme can be viewed here: http://www.uknova.com/wsgi/torrent/view/103536

Got a phone call from them today about the job, inviting me to some discussion type event. Think i'll go just to find out more.

I don't think it is a 'proper' scam, but my guess is most people fail in making a good living out of it and as personal outlay is probably quite high. What support/services they provide in country of work is what worries me the most as others have mentioned, how much legal protection you get seems at best dubious.

Thanks but I cant sign up ... can someone post it on youtube this is a big story...

hi guys.
I've received a call myself this morning after applying on salestarget website. I have been invited for presentation day in knightsbridge this friday..

i was so excited about the whole idea and started 2 consider leaving my current position at BSKYB if i was 2 be offered d position, on d phone i was told 100k is minimum i should earn a year tax free...

However, after researching the internet and past experience of people who have worked for devere I have decied not 2 waste my time and go all d way 2 london for prsentation. If they can pay you 100k a year in commission surely they can pay for your flights etc if not accomodation.

for me personally, its 2 much of a risk 2 leave my job here, family here in d hope of earning c200k a year. Gonna give it a miss

http://www.youtube.com/watch?v=4qI-EvvgzJo
Here is the story on Panorama

frequently being called by these guys as they try acquire us as clients, i can tell you that the company is legit and does try to sell something. however, the people working for it are mainly morons and have to take quite a bit of abuse day-in day-out (i should know - we abuse them nicely).

they do sponsor CISI but that certificate litterally means [removed] all when you work at a place like devere. the only job youll get afterwards is back at the used car lot or perhaps as an estate agent...

I don't know why everyone is upset my my company, we try to sell the best products to the best people, expats love a financial product that is tax free, our salespeople are trained to the highest calibre, some even have sold used cars, and timeshares, they are good salespeople, the fact that we are not financially trained is nonsence, all salespeople go on a week long course , and so they are experts in finance, we teach them how to select clients funds and everything, all within a week, the script we use is simple to learn and learnt by simple people, I should know, I wrote the goddam thing, everything is OK, we don't rip ex-pats off when they are far from from home, we support them and take their money and invest it in whole of life plans that are good for us (£6,000 commission) and good for them, peace of mind that they have sorted out their pension but little do they know that they will not get a good return on their investment as it is 1.Badly managed, 2. Has High charges and commissions, 3. Is Highly unsuitable for the client.4. The salesperson will not be around in 12 months to speak to as they have left the company.

If you want to work in a highly pressurised environment, on commission only, where you also have to pay 20% to your telemarketeer, and pay their rent and airfare, and source all your own marketing data, then call us know,
Did I mention that most of our salesteam are ex timeshare and used car salesmen,

We have a huge turnover of consultants and telesales staff, thats why we are always looking for more people to join our company, come on what have you got to lose, apart from your current job and your hard earned cash , oh and your dignity.

LMAO @Nigel Green

I nearly pi$$ed myself there. Hehehe. You've summed it up perfectly :D

Some of the messages I'm reading here are totally preposterous!!!
I am currently working for deVere in Abu Dhabi.
I attended the open day with some skepticism I admit, but I took the opportunity to talk to the training team and even to Nigel Green himself.
There is no smoke and mirrors to be found at deVere.  Everything is above board and the earnings potential is incredible.  In my office in Abu Dhabi there are two consultants who have already earned in excess of £500k so far this year and one guy did a deal for just over £100k just 2 weeks ago.
The panorama program was a whole load of crap, most of which was completely unfounded and frankly untrue.
Yes it is a commissions only role.  Is that a bad thing?  No I don't think so, particularly since a lot of sales roles in the UK are the same.
You have the opportunity to live in some of the most glamorous cities in the world and receive all the training you need to be a success.  It doesn't matter that it's a very intensive training course because you receive ongoing support and training whilst in the role.
I'd suggest the people who've posted opinions masquerading as facts do some real research before indulging in fantasies.

"There is no smoke and mirrors to be found at deVere.  Everything is above board and the earnings potential is incredible.  In my office in Abu Dhabi there are two consultants who have already earned in excess of £500k so far this year and one guy did a deal for just over £100k just 2 weeks ago...
Yes it is a commissions only role. Yes it is a commissions only role.  Is that a bad thing?  No I don't think so, particularly since a lot of sales roles in the UK are the same."

So you admit that it's a sales role.
Do the salesmen tell the clients how much commission they'll make on the investments? Do they tell the clients that they're salesmen?
If they do, it's above board. But if they avoid saying how much commission they'll make or claim not to be salesmen, then smoke and mirrors is involved.

The £100k commission earned by the guy you mention will be coming out of one client's bank account. So if everything is above board, that client will know how much he'll be spending on the salesman because the salesman will have told him.

Recent thread from Wikijobs (entire thread deleted, along with a second thread)
43 replies [Last post] 26 March 2010 - 11:56pmMCCLEMENTS

Been to a prsentation today by Devere for an overseas finanical consultant. The presentation seems good, but unsure if the job is really like what was being offers. Anyone been offered a role or anyone working for them. Also whats the interview like.

28 March 2010 - 6:58pmbowen
#1
I worked for Devere for 2 yrs, and then left to start up my own company, but they gave me a great start. The initial couple of wks were tough, but once I saw my first deal come through, I became more confident and the others just followed. The company and management were great and gave me loads of opportunities and backup. Its hard work but rewarding.

8 June 2010 - 10:40amheather402
#2
did you work abroad for a year?? If yes, where did you go and did you enjoy it?

8 June 2010 - 10:41amheather402
#3
did you work abroad for a year? If yes, where did you go and did you enjoy it?

22 July 2010 - 3:29pmKruger
#4
I went to the presentation but was unsure about what to make of it all after reading the posts on this site. My understanding after talking to Devere is that yes you can make money but its hard work (no worries there) - but you will need a rather large amount of capital to back yourself up for several months - its virtually self employment.

24 July 2010 - 9:57amtim810
#5
hi everyone there was another thread on this site about devere is anyone eles having trouble loging in to it?

24 July 2010 - 2:13pmKruger
#6
Yes I am - it seems to have been removed.

25 July 2010 - 4:39pmtim810
#7
y would they remove it

25 July 2010 - 4:47pmKruger
#8
I think it was getting a bit too debated!

25 July 2010 - 4:47pmKruger
#9
I think it was getting a bit too debated!

26 July 2010 - 7:18pmdaveymz1
#10
Suprise suprise! Yet another forum discussion taken down by devere! What are they so worried about I wonder? You can't blame Wiki.

Here is a google cashed version of the forum comments if any newbies want to have a read.

http://webcache.googleusercontent.com/search? ... n&ct=clnk&gl=uk

Friend of mine is going to have all of the full posts version put on a free content site. Seems a bit unfair not to let people see all the negative and positive comments. After all, Its a free speech society..................isn't it???

3 August 2010 - 12:59pmbadlybitten
#11
Please avoid at all costs.
Do not be taken in by DeVere's sales pitch. At best it is misleading and ecconomical with the truth.
I've been there and suffered badly because of it

3 August 2010 - 6:13pmtim810
#12
you all bad mouth the company but what company does not have bad press? and not one person on this thread or the other one has ever said that you cant make alot of money working for devere and at the end of the day thats what its all about

10 August 2010 - 10:29pmbadlybitten
#13
Its not just bad press though.
My experience is first hand. I was lied to. Simple as that.
Yes, I am big enough and ugly enough to accept that if something sounds this good than I would always water down some of the claims made but at the office i went to the last 8 consultants had left without earning one penny. Yet Mr Green claimed a turnover of consultants runs at around 9%!
From what i have seen only about 9% stay !
I just think people should be very wary of the claims made by DeVere & Partners/Devere Group

22 August 2010 - 3:40pmoctober29
#14
can you elaborate badlybitten?

22 August 2010 - 4:19pmtim810
#15
just to let people know i gotoffered a job with devere i wasent sure i i should take it in the end i did i have been at m location for a wee now and enjoy it very much the company has been very helpful to me i think i have made the right choice

10 September 2010 - 7:16pmMarkp
#16
I'm not sure a week is a fair timescale to judge.
Come back after 3 months and let us know honestly how much you have actually received into your bank account. I bet you arent so happy.
As others have said, especially on previous threads, DeVere are strong on talk and quoting figures that some can earn but the staff turnover is huge (especially in some locations) and very very few last more than 3 months.
Unless you have a significant amount of money behind you to fund rent, car hire, living expenses then my advice is to avoid at all costs. You need around £10k to have a realistic chance of surviving long enough on the off chance it may work for you

17 September 2010 - 12:15amdavidcamm
#17
http://www.thisismoney.co.uk/news/article.htm ... 13&in_page_id=2
Former names of Devere, I wouldn't touch them.
A lot of message boards have been deleted about them. too many complaints.
David Camm

17 September 2010 - 12:23amdavidcamm
#18
There used to be a lot more boards on here about Devere and how bad they are but they have all gone.
I wonder if the boards are in fact controlled by Mr Green and Devere?
We'll see
http://www.thisismoney.co.uk/news/article.htm ... 13&in_page_id=2
http://www.moneymarketing.co.uk/regulation/fo ... 1016405.article
http://www.telegraph.co.uk/news/uknews/crime/ ... nzi-scheme.html

17 September 2010 - 11:13am7Roman7
#19
You're right that some companies get bad press. But some get more bad press than others.
To make a lot of money at Devere, you would need to:
- learn your sales script
- be prepared to present yourself as a "financial adviser/consultant", giving customers a concocted career history if necessary (say nothing about that job selling used cars)
- cold call expats
- sell expensive (high commission, high fees) investment products to unsuspecting expats by convincing them (through implication, suggestion, etc.) that the investments are tax-free (for tax evaders) and highly profitable (for Devere and the investment companies)
- pay all your expenses yourself and give a chunk of your commission (your only earnings) to Devere
- avoid the taxman (they say the earnings are tax-free, but that's your responsibility)
- repeat for years.
http://www.ameinfo.com/65933.html

17 September 2010 - 11:35am7Roman7
#20
In reply to the person saying that they worked for Devere for 2 years, then set themselves up in business and that Devere helped them do that:
Perhaps you have a website implying that you're an independent company and displaying the Inter-Alliance WorldNet logo or claiming membership of Inter-Alliance WorldNet.
For example: "OFS Dubai is a part of Inter-Alliance WorldNet, which in turn is part of DeVere & Partners who are the worlds largest Independent Financial Advisors."
http://www.datadubai.com/United_Arab_Emirates ... 16497-1539.html
"As many of you know, deVere and Partners recently acquired the Inter-Alliance International (IAI) Group, which includes Inter-Alliance WorldNet."
http://www.havenpartners.net/client/newsletters/issue01.pdf

Since Inter-Alliance WorldNet is owned by Devere, anyone involved in that is clearly connected to them.


17 September 2010 - 11:10amdavidcamm
#21
Well done davey, I remember those sites I made many comments myself,
I was fairly unbiased I thought, just concentrated on factual postings from
reputable news media.
Here is a link to one I found yesterday from peed off consumer.
http://de-vere-financial-planners.pissedconsumer.com/de-vere-partners-financial-planners-3a-warning-20100415178426.html
http://de-vere-financial-planners.pissedconsumer.com/de-vere-partners-financial-planners-warning-20100415178426/1.html

David

27 September 2010 - 5:29pmmoneyman
#22
Hi all,
It seems as though BBC Panarama are doing a nice bit on Interalliance Worldnet, which of course, is owned and run by the deVere Group (as they call themselves now).
My guess would be, that if anyone commenting and/or reading this forum has any information on deVere Group that they feel would be relevant to there alleged dubious selling tactics; you should give a helping hand to the investigators. I think they would be very pleased to hear any factual stories!
It's going to be shown on 11th October 2010, so don't delay with any observations!
Here is there email address:
panorama.reply@bbc.co.uk

27 September 2010 - 6:05pmdavidcamm
#23
Moneyman
I have not heard of Interalliance Worldnet before, in what way are they connected to Devere?
I did a little research but found no people linked to both companies.
What info do you have?

27 September 2010 - 9:05pmmoneyman
#24
Inter alliance worldnet are part of Nigel Greens little empire. They are what you might call a ‘network’ for offshore IFAs. IAW are owned by the deVere Group. Let's call them a subsidary, for want of a better word.
Basically, if you are an offshore IFA salesman working for yourself, for example ‘ExpatRipoff Incorporated’, you can become part of the IAW network and get enhanced commission, a website, support and help with recruitment etc. You just pay a fee to IAW i.e deVere Group.
So you keep your own company name, but get the backing of the deVere guys (in a smoke and mirrors kind of way!). Of course, you are persuaded to promote the funds that deVere commonly sell and the deVere fund platform is conveniently plonked on your website.
It’s all very inter-linked and all ends up back with good ole Mr G. There is plenty of info out in cyber-space that links them quite clearly.
I'm thoroughly looking forward to the 11th and hope the group is finally exposed for what it is.

27 September 2010 - 9:49pmdavidcamm
#25
Moneyman,
thanks for that I did find a lot of info, they were called Britex and imperial consolidated too once (Ponzi Schemers)
some links below
http://www.international-adviser.com/article/ ... rading-platform
http://www.international-adviser.com/article/ ... r-fund-platform
http://uk.prweb.com/releases/deVere_Partners/Nomura_alliance/prweb2484304.htm
http://de-vere-financial-planners.pissedconsumer.com/de-vere-partners-financial-planners-3a-warning-20100415178426.html
http://muscatconfidential.blogspot.com/2010/0 ... ewhat-bent.html
http://www.offshorealert.com/message_board_detail.asp?id=3598&page=202

1 October 2010 - 11:46pmjonnymch
#26
I wonder if the removal of the last thread exposing Devere's is linked to the recent adverts emailed to us from wikijobs.co.uk

7 October 2010 - 8:40pmNathan Smith
#27
Do you get paid a basic salary working with DeVere group???

7 October 2010 - 8:52pmNathan Smith
#31
Hi Kruger do you get paid a basic salary or is it all commission working for Devere group?


7 October 2010 - 10:25pmdavidcamm
#33
Hmmmm
It seems some lambs have never worked self employed on a commission only basis before! a learning curve is a comming. ;-)
I have worked many self employed commission only jobs and from my experience I can honestly say that I was well out of pocket for 1 or 2 months before I broke even with expenses like fuel paid and back commissions.
Indeed some self employed commission only jobs I worked in I never actually broke even after 2- 3 months.
I would not enter any job of this type without recourse to several thousands of your own funds to tide you over whilst you tread the boards.
They do pay you weekly but there are always issues as to why the payment is late.
In a new job it is unrealistic to expect t make any sales for the first month.
Be wise and be very wary and tell mum and dad how much you love them before you start this endeavour. :-).
David


7 October 2010 - 10:41pmNathan Smith
#34
Hi David,
Because I have an interview tomorrow with DeVere group. I do not understand the problem not many jobs pay for your travel. So you do get a basic salary yes ?? and commission is a bonus or what?

8 October 2010 - 12:33amNathan Smith
#35
At DeVere, just wanted to know do you get a basic salary or is it commission only?

8 October 2010 - 12:34amNathan Smith
#36
At DeVere, just wanted to know do you get a basic salary or is it commission only?

8 October 2010 - 12:34amNathan Smith
#37
At DeVere, just wanted to know do you get a basic salary or is it commission only?

8 October 2010 - 12:37amNathan Smith
#38
At DeVere, just wanted to know do you get a basic salary or is it commission only?

8 October 2010 - 8:29amdavidcamm
#39
Nathan
Devere do not pay you anything, you pay them until you make sales you have to pay for travel, accommodation, food, flights and a coordinator to get to leads. You even have to pay them to train you how to do the job? (this is deducted from you commissions).
Commissions on sales are divied up amongst Devere and coordinator before you get any, you alsi pay for your coordinators accommodation too!
All these answers are from other people in other posts on here and elsewhere on the internet, Yahoo answers has a lot of info about them.
Devere have a very bad reputation, don't be taken in by these scamsters.
Be careful.


8 October 2010 - 10:08amLindsay O Regan
#40
I'm just back from working for deVere in Dubai. Here's the inside story from someone who didn't make it.
Everything they tell you about the opportunity is ALL TRUE. You can make truly life-changing amounts of money, providing you're suited to the job and work hard. The commission structure is exactly as they describe it on the course.
I can't speak for all locations, but the Dubai office at least is full of friendly, helpful people with sky-high skill levels. You will receive plenty of training whilst there. Management is of a high calibre and supportive. They give you every opportunity to succeed.
AND YET, a large number of people still don't make it. I was told that I was the TENTH consultant this year to come home from the Dubai office. The statistic I was quoted is that 8 out of every 10 new arrivals don't make it. I couldn't verify this figure, but that's what I heard.
So, how come? The answer seems to be that either that people aren't suited to the job, they run out of money before they've become established, or both. Either way, there's risk involved. Here are the factors that increase the risk:
- being new to Financial Services
- going out without a good number of warm/hot leads
- too little cash
To give you the full picture. You will have a contract with deVere, but you'll be paid commission only. So, you'll get no money before you've made a sale. It seems to take 3-4 weeks on average between signing the client up and money landing in your bank.
I was told that 60% of new consultants make a sale in their first week, but I can't confirm that from what I saw in the Dubai office. The best I was aware of, at least for this year's intake, was a sale in the second week. Anywhere between 3 and 6 weeks seems more likely.
I'd recommend budgetting on making a sale in week 4 and being paid for it in week 8 as an average. Build in some contingency in case it takes longer - it can - and treat is as a bonus if it comes quicker.
For an indeterminate period you'll be required to be your own Co-ordinator. You'll have to find prospects, and cold-call them to make appointments as well as present to them and close them. If you can't handle Co-ordinator skills you're unlikely to make it. Not all sales people can, so be honest with yourself. I see it as deVere's way of sorting the wheat from the chaff. There seems to be a strong adherence to the Survival of the Fittest philosophy. If you didn't create success, no matter what the circumstances, the view is likely to be you didn't want it badly enough. Ultimately, it's all up to you.
Having good quality data is the key. I went out there with 700 names I'd found on the internet. They weren't worth a candle. Try to get names of people you know or to whom family/friends have introduced you before you leave. When you get there, expect to be out networking every waking moment until you've made some appointments. Once you've made appointments life should start to get easier. From apopintments come sales, and MORE IMPORTANTLY, introductions, which will lead to more appointments, and more introductions. Once you get into this virtuous circle you'll come up the curve quicker.
BUT DON'T UNDERESTIMATE HOW DIFFICULT THIS IS. It's not impossible to drop on lucky and find willing prospects from your first few calls, but it doesn't happen very often. If all you're doing is calling cold leads you're likely to be working very hard for very little return except boatloads of rejections.
YOUR BIGGEST RISK IS CASHFLOW. The less FS experience you have, the fewer warm leads you take with you, the more money you'll need to survive. If, like me, you have no previous experience and take no warm leads, I recommend you take double the amount of money deVere advise. I took about half their recommended amount - that's all I had - and knew within a few days how much trouble I was in. If you don't have at least the amount they recommend, think hard about going at all. That's the simple equation: less prepared means you'll need more money.
So, the rewards for success are HUGE. Realistically in a place like Dubai it's entirely possible to make 200k in your first full year, and in excess of 500k eventually. BUT, you'll be taking a risk, and the odds of success appear to be against you. My advice is, if you have enough money, give it a go. I'm glad I did. And again, BUT, don't put more money at risk than you can afford to lose. If you've spent as much as you can afford, and still haven't become established, cut your losses and come home. That's what I did, and I'm glad I did that too. Whatever you decide to do, good luck!

8 October 2010 - 10:45amdavidcamm
#41
Lindsey has hit the nail on the head with her experience of Devere.
One has to "go for it" in life, be a doer, winner, trier and be positive its the only way to learn, after all you never know you may be one of the few that are suited to direct sales commission only work.
I think that the key observation from everyone who has tried Devere is that you need good cash flow for several months accommodation, travel and food to give yourself the time to make contacts in order to network well inside a new job and country.
You can find out in this country if you are suited t the work as there are a multitude of Commission only self employed jobs in the UK, double glazing, Kitchens, Bathrooms, disability equipment, finance etc. It would be wiser to try here first in one of those jobs to see if you can make the grade.
I have a very low opinion of these self employed commission only jobs as I have never seen one where the customer is getting a good deal, its always the opposite as the "client mug" has to pay over the odds so you all get good commissions :-(
I have found that most new direct sales people are just cannon fodder to filter out 10 leads down to 1 or 2 decent ones that some "manager" finishes up collecting on after you leave or get fired. You have to sell at the top price to get paid but the manager can sell it for half price and get good commission, you get none! There is a proven method in there favourable for the Manager and not you or the Client.
Good luck to all those who dare.


23 October 2010 - 5:55pmKelsey
#42
I worked for devere as a coordinator but didn't last long.
I read all the forums before I went but still thought I would give it a go as I believe that you regret the things you haven't tried more than the things you try and fail at.
On arrival it soon became clear that I had been lied to. I was told that they needed me asap because the one coordinator needed help with all the appointments they were making for the 6 consultants and that they were all making loads of money.
The truth was that out of the 6 consultants only one deal had been signed in 2 months and that out of approx 700 phone calls made each day they were lucky to get an appointment each.
The consultants were really nice but also very angry that they were also lied to. In fact they all suffered much more than I did both financially and personally as they had all given up alot to take up this opportunity.
I am sure in some countries you can make good money so if you think that you can make a go of it then good luck and just remember to take plenty of money until you are established and try and take a very long list of names for you to contact.

28 October 2010 - 4:10pm7Roman7
#43
Could the McClements who started this discussion be the mortgage advisor, Nigel McClements, who is now facing trial for fraud?
http://www.newsandstar.co.uk/news/carlisle-mo ... 4?referrerPath=
The police were hunting for him earlier in the year:
http://www.newsandstar.co.uk/fraud-squad-hunt ... erPath=/1.49977
He had left for South Africa:
"McClements, of Scaleby, near Carlisle, then left for South Africa, where he spent time gambling so, he claimed, he could get money to pay the people back he ripped-off."
http://www.cumberlandnews.co.uk/cumbrian-mort ... ferrerPath=news
Where he apparently got a job with Devere:
http://www.mortgagefit.com/companies/northumbriamtg-inactive-3.html
"Devere Recruiter Profile
Company Name: devere
Contact Person: nigel mcclements
Telephone Number: 0118836300
Fax Number: 0118836300
Email Address: nigel.mcclements@devere-group.com "
http://www.jobmail.co.za/view-premium-employer-156499

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_________________________________________________________________
De Vere Group - financial planning consultant
Posted 11 May 2010 - 5:49pm by dondon192

Hi
Been for interview today to become oversees financial planning consultant for De vere.
All sounds great however would be very interested to hear from anyone who has done this or knows anybody that has done this.
I have financial commitments in the UK and would struggle if the deals were not coming in.
Also what does the 5 day course entail?
Seems alot of money to layout on accomodation etc etc without any guarentee on earnings
Thanks

13 May 2010 - 7:38pmjamming
The 4 and half day course mainly consists of you presenting a script that they want you to present to a potential client, about 3 pages A4,a client by the way that they dont provide. When you get to the location you will have to find your own clients (NO MATTER WHAT ANY ONE IN DE VERE) says to you. The course also entails one screechy voice south african female harping on about subjects she doesnt know about and some other old fart that also is out of date with everthing, as the week goes on they just carry on trying to sell you the job. They are very political and diplomatic with all there answers surrounding anything of any concern to the advisers.
They take no risk at all in the people they employ you have to pay for the flight and accomodation when you get there, so if you dont find clients or your not very good at networking your going to struggle.
They only pay 2% com on single premium business and as a new adviser they only pay 95% of that.
Reg premiums they use this calculation, 0.0192 x term x Ann premium so if a client was paying £500 for 10 years then the com would be £1152. There products (reg savings) are massivley front end loaded so much so that if the client stops the payments in the first 2 years they do not have any cash in value. I would estimate that on single prem business the total com paid into de vere would be 6 to 7 % they need this amount to pay for all the various people drawing from it. Its not about good investment advice its about making money and the adviser does all the work for very little in perspective.

27 July 2010 - 2:44pmStarshollow
At least for their activities in Germany I can only say that they are acting in illegal ways bordering to criminal.
1. the rely entirely on cold-calling. However: cold-calling is illegal in Germany, can be fine with 50k EUr for first offenders and up to 500k for serial offenders. Since the advisor or "coordinator" are not employed by DeVere but legally speaking contracting or freelancing, the individual person will face the music 8and hten later perhaps the company if they can catch them
2. the main products sold in Germany (forget about advice, this is nothing but selling) are whole life insurance products called "Offshore pension plans". It is illegal in Germany to offer insurance products if you are not registered as insurance agent or broker with the internationla chamber of commerce. Neither DeVere Germany nor the advisors known so far are registered
3. most info about these products given to clients is wrong. They are being told about certain tax advantages and that the profits are free of taxation etc - which is all untrue for people living under the German tax regime. They also withhold information that consumer protection laws in Germany demand them to provide. So, the whole process is illegal in Germany
4. if you sign up as a client for such an offshore pension plan, you won't know (because they don't disclose this information) that for a contract duration of 30 years (not uncommon for pension planning) you'll pay 28 month with your contributions only for adminsitrsative costs and, of course the biggest share, commissions. Thus it is only a job for someone who cherrishs to cheat and betray unsuspecting clients
5. I also have evidence that they encourage their German "staff" to keep below the official radar and, for instance, not to open local bank accounts so that they need not repoprt their income to German tax authorities. This is of course criminal tax evasion and I am sure that some of them will be found out and taken into custody ere long.
I am an independent financial advisor in Germany and know about the laws and regulations as well about what these guys do. Am trying currently to get the British FSA to look more closely into this matter, too.

3 August 2010 - 11:56ambadlybitten
Having done the course and joined the company my advice would be to avoid at all costs unless perhaps you have enough money to support yourself for 7-9 months.
Your choice of destination is key but dont expect any guidance on your choice. It is down to you.
The course is very basic, and you have to learn a script, parrot fashion and all the training is about monthly savings plans-'this is your bread and butter' or so you are told. The course also talks about the 'platform' which is the way the owner, Nigel Green wants to see a lot of business transacted. You are told to cold call-get a list of 300 names before you arrive at your destination
What makes things so wrong is that in some area's monthly savings plans and the platform are not authorised and cannot be sold meaning the training is a waste of time. Makes it even worse that when you arrive you find cold calling is banned and not allowed from your office! How do you get a client base when you cannot call anyone? Networking? Every other man and his dog has tried whatever you can think of.
Are there people earning good mooney- yes, but in my destination these were guys who had been established prior to the banning of cold calling.
The last 7 consultants who went to my destination have returned home within 3 months having wasted thousands of pounds on a pack of lies!
People have to make their own decisions but my advice is be very, very wary. Asking questions before you go is no guarantee as the answers you get are, shall i say, misleading at best!

27 September 2010 - 4:31pmmoneyman
Hi all,
It seems as though BBC Panarama are doing a nice bit on Interalliance Worldnet, which of course, is owned and run by the deVere Group (as they call themselves now).
My guess would be, that if anyone commenting and/or reading this forum has any information on deVere Group that they feel would be relevant to there alleged dubious selling tactics; you should give a helping hand to the investigators. I think they would be very pleased to hear any factual stories!
It's going to be shown on 11th October 2010, so don't delay with any observations!
Here is there email address:
panorama.reply@bbc.co.uk

7 October 2010 - 6:42pmbluebuck
#5
I have to say that it's easy to blame the company for individual failures, though not entirely correct. If you really are a talented sales person with plenty of energy and drive then DeVere offer an unrivalled level of earning! Yes, you have to find your own clients; but this is a direct sales position and that's normal. If you want everything to be handed to you on a plate then don't join.
I worked for them In Qatar in the Middle East which is one of the better destinations (money-wise). Every employee sees the weekly earnings for everyone else around the world and, yes, people are earning £7k a week plus. And the good people stay for years and years. Personally, I'm slightly lazy and didn't like the cold-calling element either .... but still earned VERY well. If you are prepared for hard graft then go for it!

7 October 2010 - 11:32pmNathan Smith
At DeVere, just wanted to know do you get a basic salary or is it commission only?

8 October 2010 - 7:25ambluebuck
Commission only, it's purely a self-employed direct sales role - no different to direct sales in the UK. But, if you excel at it in the UK you'll earn £100k max, overseas the sky's the limit (and it's tax free).

26 October 2010 - 6:22pmfish_farmer
Hi
I worked for DeVere for a few months. The job was sold to me in the same way they sell it to many many others, they don't tell you the pit falls though. Yes you can earn a fortune, my manager there earnt £250,000 in the 3 months I was there, however the reason he did this is a he was the most ruthless salesman I've ever seen, sell Ice to eskimos this guy could sell them the freezer as well. he also had a high turnover of staff that were generating leads and clients, they'd get bullied out f the job and he'd pick up all their hard work.

Personally joining DeVere cost me around £10,000 in flights accomodation paying for a co-ordinator etc. I wasn't cut out for the job, I know I wasn't but then I was born with a conscience. if you don't have one, know about 500 ex-pats in the area you're going to, the ability to sell a product you know nothing about with 4 days training, by someone who knows nothing about that same product, and a ton of cash give it a go.

If your face fits when you arrive and the manager likes you he'll help you, if not then a foreign country is a very lonely place, particularly when every ex-pat in the area will hate you the minute you arrive.

I trained as a financial adviser before I started it took years and lots of exams, I got 100% on their 20 questions but then everyone else on the course passed too. These guys just use clever maths tricks to make clients scared into investments, the first two years of their investment are all charges, of which you will take your cut. The investments though are endowments, try and buy one of those in the UK, there's a reason nobody deals in them any more...

The guy you meet in Birmingham or Heathrow is paid to get you to Zurich (it was Monaco when I trained, wonder why he had to leave there?) The trainer is paid when you arrive on site and then the manager is paid when you earn over £50k, if you haven't earned £10k in the first month be prepared to fly home because they will already be sick of you, they'll make sure you keep working though to get them plenty of clients for when you leave.

If you have just been the number 1 salesman for Kirby cleaners, or your surname is Trotter, you might do well, if you have nothing to lose, believe me 5 years later and still paying off the debts, it was the worst decision of my life.