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Hi Old Bloke
I have been reading your comments lately and i'm surprised of how my mind has changed on the expectations of the graduate co ordinater role for devere group financial consultancy. it seems to me theres too much risk to take. I have passed the graduate scheme and their looking to locate me in dubai or if i don't get the job there, maybe somewhere else.
In my group interview, I talked to some of the candidates with me and I asked them "what do you think of the role, aren't we taking too much of a risk." the reply i got was from one person was "if you work hard, then you'll be successful."  
Yes, we have all heard that crap over and over again. BUT, only in reality, you find out how hard it is to put that into practice. Basically, if the market there to be exploited, then sure, you'll be rewarded. However, theres too much competition for very little money even though commission is uncapped. you must have heard the saying, "some can sell ice to the Eskimos". then again, i feel theres too much people selling ice to the Eskimos and the market is saturated in many places.
yes my friends, including dubai (dont just fall for the tall buildings and the kremlin in moscow)

you will hear success stories which will be highlighted but not the high staff turnover, as that wont affect their finance because its almost like your self employed.

it feels like, people stand a better chance of making a raise on the roulette table then having to put themselves through this.

I too, am a recent graduate, but have mixed feelings working for devere and I am for sure, very disappointed in their employment prospect. one thing I know for sure, I will succeed.

Nathan

Fair overview in your comments. Life is a risk but better to be well informed, if you were already in Dubai maybe a lower risk.

From my experience all the good co-ordinators quickly find that there are proper jobs out there. I am going to pass this forum around to some ex DVP people to see if they want to add their real life comments.

Best of luck.

Hi,

I beleive DE VERe have been around for about 10 years. I am going to a presentation soon. What are the pitfalls when you get out in the field?  Do you get good support in the first month or two.? Do you get paid on time?

MC

Michael

Read my previous posts that will give you a pretty good overview.

Well well well...............bottom line my friends is.......do not work for Devere, it's not worth it, trust me........it's a saturated market....you guys just want to listen to what your mind wants to hear.

Below are all the reasons why......
1) You're self employed.........do your research, you'll find out
2) You will need £3-5K for accommodation (I know they pay 50% for your rent if you're on a grad scheme but in places like Dubai, you need to pay up in advance for approximately 3 months.
3) All you people...think...why would a company such as Devere who claim to have 50,000 clients, £7B in investment management want to employ graduates in politics, history.....subjects that are not even sales or marketing related. That's because they don't care....they're not taking the risk.....it's totally commission based. If you sell, they will suck you like a leech........if you don't... you're broke, and about to be fired.
4) Don't fool yourselves, when you go to their employment presentation and training, you will feel they want you more than you want them.
5) They are so good at presenting and speaking....don't just look at their success stories. They add to them with loads of anecdotes, to keep you interested. It's part of their game to lure young grads.
6) Don't be silly................you won't earn £150,000 as a co-ordinator. There's too many people on the same level as you, it's not possible. I spoke to the manager in Dubai, she said you'll be lucky to earn 25K. (The conversation was recorded as proof). You need to consider, living expenses, clothes, food, going out, rent top up.......then you end up with 12-16K, that too, by the time you have grown white hair and suffer from stress disorder. Is it worth going abroad for so little....you would rather work in some call center in the UK.

7) They call it the graduate scheme.....give yourself a reality check Devere. Which graduate scheme requires you to cold call in the world. It's just the way they phrase it.

8) I was sat with some very intelligent people

Fair comment if in BOLD words.

I agree that you do not need a graduate, you need somebody to shut up and get on with it, it does not require intelligence just persistance thats all!

Hi Guys

I have a friend who recently has a job with De veres, he is moving to Shanghai in a couple of weeks.

I am extremely concerned after reading this forum about him working there.

He has no financial experience, pretty much no money to go with.  He’s paying for all his flights etc.

He believes he will be on 60-70K base rate, with some commission, a hotel to stay in, in till he gets a flat...you see where im going here.

What on earth should i do, he is quite a stubborn guy, and with out massive persuasion i don’t think we can stop him.

Northerner

Not really your problem he sounds so hard up he might just make it work. I personally had to or was asked to bale out, i.e. lend money to quite a few of my ex colleagues who had run out of money, embarassing or what and not really what I wanted to do.

I hope he makes it happen. Dont forget that he will have to inform UK tax HMRC etc. otherwise he could have yet another problem to deal with.

Really if he has not got 6 months money he will probably be f__ked from the start.

Expats are walking out of middle east due to safety issues. therefore, i believe, if expats return to the uk then they would want their pension plans or whatever savings schemes their on, transfered. Hence, the demand in the financial consulting sector would increase in the UK.
furthermore, if expats cant continue to pay into their monthly pension pot, regardless of them moving back to the uk or not................ they'll  still get [***] with charges on their schemes when they signed up on off sure plans.

overall......

demand for financial consulting WILL increase in the UK and decrease in the most areas of middle east unless, the political situation improves dramatically.

what do you think old bloke

Long question. No the UK market is already well catered for and IFA's are leaving the market due to the upcoming RDR review which will affect fees etc. The UK is a bad place to be an IFA in my view.

Europe (EU member states) are also looking at and regulatiing financial services and MIFED passporting so I believe there will be issues there and clients will utilise onshore products more based in that country.

MENA area, expats are usually based there for shorter periods on contracts and with little tax or no tax it is good for offshore advisers but yes the area is changing so the market may shrink.

The offshore bonds as a UK vehicle become quite limited and incur a "chargeable event" in some circumstances so a lot of the benefit goes away.

You can get a good result for clients and good fees for you in a non bond product called a platform, comm is less but in mant ways it is better and globally compliant, the trouble is you turn your earning from wrap to funds so if you don't understand funds you would find this hard to undertake and it is not the DVP way.

So all in all no not really. UK has good opportunities if you want to be self employed and are good at sales and can easilly match the offshore earnings that people actually achieve.

well, what can i say..........i should just stick to accounting and finance, the field i graduated in......but it sucks, its hard to get a decent job despite having 1 years experience. Thought i'll make something out of devere..........but i doubt it. I'm thinking, i'd rather work in a call centre and look for a proper job in the accountancy field at the same time.

LIFE ISN'T COMPLICATED..............................ITS THE MIND WHICH COMPLICATES THINGS.

Hey there,
I got a call from DeVere recruiter a week ago.
They have invited me to an induction meeting.
Trying to understand here - what happens after they [***] you with "best on the market company" and " you will earn a zillion a year" for two hours?
I am myself a highly experienced salesman, I really do not give a damn what to sell. So, from your thread I see this is the kind of people they are looking for.
And I am in Russia. Moscow.
They set up a meeting at National hotel - the most expensive one, right near the Red Square.
Will provide an update after I go to this induction meeting. And the conditions.
Cheers.

If you are already there, so know the city etc. life will be easier. If you just want to earn and don't really mind long term give it a go is my thought.

After the bull you will be out in front of clients from appointments you make or a co-ordinator makes and sell, sell, sell.

If you have a network of friends and associates you may find that once on board they are no longer friends or associates but you will have two years to play with before [***] hits fan.

Best of luck.

Thanks for the reply.
I am a Russian citizen. I live in Moscow for 10 years already.
Have to go to an interview and message you back with the conditions they offer here in Russia. As I read I see they offer some fixed salary in addition to the commision in some regions - gotta find out what it is here in Russia.
I am 100% sure that the guys with good experience in sales and great presentation skills will tell DeVere to suck dick as they will need a fixed monthly salary in addition to the bonuses.
I believe that is why many DeVere calls look like pranks, as they hire [***] who can not talk (9 out of 10 as you say ;P)

I do not know anything about the Moscow market including Russian tax rules, employment terms etc. so do not raelly have knowledge to advise how easy the product would be to sell. From my knowledge of Russians I think that would be a hard market to crack so it would be the expats really.

Will be interested to hear after your presentation.

It was very strange. Strange people who promise much but do not answer my questions properly. I think big waste of my time. I find proper company to sell for. These people remind me of criminals we have in Moscow

@ Old Bloke. Having read this thread after being invited for an interview and doing some due-diligence I've some questions such as what is the company registration number? there are so many devere / de vere companies listed. Thanks, Bob

Bob

You will not be able to do due-diligence, you are thinking to much. It is an offshore adviser with offshore structures via Zurich, Nevis etc. You will find out nothing but it is a company that is privately owned by wealthy people, so do not concern yourself with that.

I think there is now a UK set up which will be FSA registered but that only covers the UK.

Only concern yourself with the opportunity and potential and risks nothing more my friend.

Abe Linkoln

I would not say they are criminals at all but forceful and ruthless practice yes. There are not too many questions to answer really. The sales process works, if you adhere to it and don't really think too much and don't care about the clients. If you can't do it, you will be gone, history. If you can and "fit in" you will make OK money but could make a load. You will not really build a business just be a hamster on the wheel, the business you build will be for DVP.

The reason it is commission only (in most places unless employment rules make it otherwise) is simple, low risk to DVP, most risk to you and as most fail it works, if it were salaried it would be high risk to DVP for all the "soldiers" that fall or fail. If you do very well, well done you but they do better, keep trail, renewals etc.,etc., etc.

But if you do not have a better "real job" or do not have a skill set to earn big money this could be one in a lifetime opportunity.

Simple really.

As vague as they were. Perhaps that's why you can't answer:
06945830            De Vere Central Services Limited    
06991295            De Vere Communications Limited    
03231927        D    De Vere Consultancy PLC    Dissolved
05963764            Vere Consultants Ltd    
05845028            De Vere Consulting Ltd    
06947795            De Vere Contracting Limited    
02671685            De Vere Contractors Limited    
04299342            De Vere Corporation Limited    
00901465            De Vere (C.R.) Limited    
04710828            De Vere Credit Limited    
06292586            De Vere Development Limited    
05195309            Vere Estate Agencies Limited    
06585163            De Vere Estates Limited    
06849717            De Vere Executive Car Hire Limited    
02952518            De Vere Fabrics Limited    
03054134            De Vere Farms Limited    
05534243        D    De Vere Finance Limited    Dissolved
06448468            De Vere Finance No 1 Limited    
06448650            De Vere Finance No 3 Limited    
06448657            De Vere Finance No 2 Limited    
04299098        D    De Vere Financial Services Limited    Dissolved
07543911            Vere Foreign Exchange Limited