Paphos People

Anyone had any dealings with these financial advisers please? looking for some views on whether they are good or bad?

chris

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Merda taurorum animas conturbit

I know one of them socially, however that is no indication of his competency in the financial markets. Sorry can't advise, however anyone who cold calls me regarding finances, as they have done, doesn't exactly inspire my confidence.

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And the Oscar goes to........

You mean other than a phone call every couple of months trying to offer financial advice/assistance which we refuse each time and tell them if we need anything, we will call them?

Nope - that's the only dealings we've had with them and quite frankly, that's enough.

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Regards
Shell

cold calling means depserate for work or new business

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Life is short! Break the rules! Forgive quickly!
Love truly, Laugh uncontrollably
And never regret anything that made you smile Warning Internet forums may contain nuts

Posted this already in the financial section - Chris you have two threads running.

I got a cold call from someone who claimed to be them, while I was shopping. They were trying to ask all sorts of personal questions, which I refused to answer. The concern was that they already had too much information on me already, full name etc.

If they were DeVere or not I am not sure, but I don't do business with cold callers.

In this current climate many/most financial providers use some kind of Telephone/email canvassing. Some are much more professional than others at the approach.

I do feel that when a company has a firm NO then you should be removed from the calling list.......

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Straight talking, no Gimmicks.

Live your dreams.

Have you noticed all the cold callers ring about tea time? The best we got was some years ago when we moved from the flat we had bought and took the phone number with us. One day it rang and I was asked if I was Mr Broughton.
Mr Broughton passed away some years ago I replied.
Oh, sorry about that, perhaps I could interest you in our product.
Perhaps you should get an updated phone book was my reply and I put the phone down to finish my tea.

Gave them a sell instruction for two investments, way back in the 3rd week of April. Handling of paperwork is rather flippant at best.

The proceeds have still not been invested in new products. This is all of 54 days ago.

Conclusion they talk a good talk (Some would say Bu!!!!it) but doing the real job leaves a lot to be desired.

But to be fair a friend of mine used them and was very satisfied.

OK thanks guys...................just out of interest, if we could move on from the issue of whether or not someone "cold-called" and onto whether or not the "deVere" group are good people to do business through, that would be enormously helpful - thanks in advance

chris

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Merda taurorum animas conturbit

I very much doubt it

I have a friend who has done quite well with them.over the last three years
I invested with them two years ago.Last year was good this year is pants.It all depends what YOU want.Long term,short term,high risk,low risk.
I have to admit no risk would be better,but I think that's best kept under the mattress.

I know a couple of their sales force.
before they sold for devere group they had absolutely no experience of the financial services field.
They have no UK (or Cyprus) based financially recognised qualifications.
I hope my brevity helps you with my opinion of them.

If you ask them for you to be removed from their database then they will have to do that, but you must state that! Tell them that if they call again you will take it to their manager. That should do the trick! On the other subject, I recently was offered a job with them and have the relevant qualifications and experience that I recieved in England. They do send you on a course in Malta for a week to obtain information on the company! I was told that after two months that you would normally have to go through the exams to obtain the relevant IFA qualifications for financial planning, pensions and equity releases. So maybe some of these people do not have the relevant qualifications, you can always ask if they have the qualifications that is your right, do not be pushed into anything? I personally decided not to join, as the economy in Cyprus is not really booming at the moment and pensions are best kept in England for tax relief purposes. De Vere are a very large company, but I would advise getting proper advice from an IFA in Cyprus, preferably English as the tax relief system in England may cost you if you transfer your pension here!

Good luck!!

My enquiry was actually from a few weeks ago - suffice to say I have met with the chap who called me and I have nothing but praise for him - did a review of my non-existent finances and has managed to save me €80 a month - no pensions transferred, no money has changed hands - no pressure whatsoever - all-in-all a painless profitable experience.


chris

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Merda taurorum animas conturbit

Don't do business with them!!

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Sarcasm is the body’s natural defense against stupidity.

In the first place, I have already done so as I said, found it painless and profitable.

In the second place, despite getting a number of posters saying "avoid", not one single person has (so far) been able to provide me with objective evidence as to why.........................I am aware that when deVere first arrived in Cyprus they employed a bunch of wannabe advisers who did not create a very good impression, and whose services were dispensed with in somewhat acrimonious circumstances with the result that a large number of disenchanted ex-employees are bad-mouthing deVere at every possible opportunity...........................so until I can be provided with actual substantiated evidence showing them to be deliberately bad (as opposed to just a bit careless with some paperwork), then I have to go with my personal experiences which are so far, all positive.

chris

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Merda taurorum animas conturbit

Hi Chris,

I found the following which should ring a few alarm bells for you. This is what International Advisor went to print lat e in May 2013.

http://www.international-adviser.com/ne ... ey-trapped

The next thread is from drunk Consumer where there is so much written about devere. I guess some are ex employees but certainly not all, I'd say there are quite a few clients that have been unhappy with their antics.

http://www.pissedconsumer.com/reviews-b ... 12159.html

Apparently Nigel Green now pays lots of PR Companies to trawl the internet and threaten people with court action if they mouth off about deVere. One such case was;

http://www.thisismoney.co.uk/money/arti ... Group.html

I would be very careful before handing over any money to these people who are predominately a SALES Co. NOT an IFA Co.

Good luck and enjoy!

I have no experience to offer regarding deVere. However, I am always suspicious of a first and only (to date) post that says don't use such and such a company. Particularly one from a poster that seems rather more informed about the industry than most.

I'll say no more.

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Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein

As far as I am aware, the deVere company that was (is?) operating in Cyprus did so under an insurance (note, insurance, not investment) licence from Belgium, but I have heard that they have since lost that licence so are no longer licensed to operate in the EU.

As with everything, caveat emptor (let the buyer beware)

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Kay

Those who do not like cats, must have been mice in a previous life.

You are correct in that they have lost (had annulled) their Belgium licence which they used to operate in Cyprus.
They have a separate licence to operate in Spain and a couple of other EU countries.

I understand they are applying for an Insurance licence (as PW says - Insurance NOT investment) directly in Cyprus. If anyone has a reason for concern then they should advice the Cyprus ICCS (Insurance Companies Control Service) on 22602990 , fax: 22302938, e-mail: insurance@mof.gov.cy as soon as possible.

At least the cold calling has stopped for now

My last post was 11 months ago - since that time I have had no cause whatsoever to have issues with the service provided by the deVere group..............but thankyou anyway.

chris

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Merda taurorum animas conturbit

Chris, it sounds like you work for deVere and just tried to stir up some interest, maybe?

Please excuse the pun!

Oh dear oh dear. Light the blue touch paper.

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Only two things are infinite, the universe and human stupidity, and I'm not sure about the former. - Albert Einstein

How quaint - no, I don't work for anybody these days.

chris

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Merda taurorum animas conturbit

I suppose we all have to start some where right? Looking at some of the contributions to the question on this thread I'd have to comment yours was very insignificant.