deVere Group FAQ

Have questions about working at deVere Group? Read answers to frequently asked questions to help you make a choice before applying to a job or accepting a job offer.

Whether it's about compensation and benefits, culture and diversity, or you're curious to know more about the work environment, find out from employees what it's like to work at deVere Group.

All answers shown come directly from deVere Group Reviews and are not edited or altered.

46 English questions out of 46

6 August 2020

Does deVere Group offer massages?

Pros

Good banter, team building days, free tea and coffee

Cons

Get ready to be pressured, ridiculed and worn down

Advice to Management

Get a new manager

Good banter, team building days, free tea and coffee

6 August 2020

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5 May 2019

Does deVere Group have a pension plan?

Pros

Fancy titles for everyone (everyone is some kind of manager or wealth “advisor”...but would you trust your money to people living pay check to pay check?) to sound more important than the unqualified call centre sales people they really are.

Cons

Recruiters and trainers lie about pay, relocation reimbursement, duties, etc., to attract new grads and people who can’t get decent jobs in their own countries. You’re nothing more than a sales person in a call centre/boiler room, trying to fool people into handing over their life savings to a bunch of crooks who will sell products with high commissions (anything over 2% is theft and devere will take 5-10% easy; there are probably saps paying even more but devere is not required to disclose fees in the UAE) and crazy restrictions that are banned in countries with real regulatory bodies that protect consumers. There’s a reason they had to shut down in the US, UK, and other more regulated countries. They mainly target Brit expats because their pensions can be moved out of the UK and into unregulated markets, so unscrupulous devere can take a big fat cut of those pension pots. Please note these are scum who told prospective clients that their pensions would not be safe with BP!! So they will lie and cheat to line their pockets. The people who remain at devere after the hard sales training boot camp are either idiots who don’t ask questions (which seems to be the case of most of the Dubai staff because all they care about is the next brunch or nightclub) or immoral, unethical thieves who think nothing of ripping off people for their own financial gain. If you want to be able to look at yourself in the mirror (and not go into debt chasing a pipe dream because they lie about the pay structure and relocation assistance and more than a few recruits had to hurry home after racking up credit card debt), stay away from devere.

Advice to Management

Grow a conscience and shut down the business.

They mainly target Brit expats because their pensions can be moved out of the UK and into unregulated markets, so unscrupulous devere can take a big fat cut of those pension pots.

5 May 2019

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7 May 2019

Does deVere Group offer malpractice insurance?

Pros

Company has good size and international resources. Relatively good modern day reputation Good people

Cons

Commission focused Extreme Sales Negative Industry image in the past No benefits given by company. E.g pension/medical insurance etc..

Advice to Management

Listen to employees

E.g pension/medical insurance etc..

7 May 2019

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29 February 2020

What is health insurance like at deVere Group?

Pros

- As a young professional you get to learn the financial industry and is a good company to start off your career and get some professional experience. - If you stay long enough as an Advisor, there is a high earning potential and you can get quite successful but the first 2 years will be very tough financially - Really good investment products not available on the hight streets - Positive colleague environment - Inspiring CEO and Divisional Manager

Cons

I have been working for two and a half years at deVere as a Trainee Wealth Advisor/BDM, and they promise multiple things and don't deliver: - To become a Financial advisor in deVere they want you to pass a series of exams (CISI and RO) but expect you to fund them by yourself ( there are 8 exams in total and cost 500 £ on average each) with no internal training, so pretty much self study while trying to make some business. - The only training we get are provider demonstrating their products but mainly about cold calling and the reasons why a specific product should be interesting to the prospect. ( no in depth training on why we should pick a similar product over another, mainly just for commissions sake) - 90% of the advisors there are unqualified and don't know what they are doing except having a selling pitch and know what to sell in a specific situation. (I have seen advisors with no financial background and after 1 months training in Malta, jumps in the office and start working and calling themselves professionals, for example cherry picking funds in a savings plan because the name of the fund comes from a big bank, so pretty much wasn't looking at how the fund was performing....) - Very low salary provided in Switzerland for a Trainee/BDM at deVere, that is almost impossible to survive on( high rent and obligatory health insurance) , they provide you with 1800 CHF net p/m (Initially we used to get paid 3500 CHF p/m but the director decided to half it to "make us more hungry for money and work harder") and provide you with a 10% commission off of what your consultant makes (if you end up being paired with a bad or unqualified consultant no mater how hard you work you won't see any commissions come in, hence the huge turnover) - Commissions might take up to two to six month to hit your bank account. - High amount of Trainee/BDM turnover, after being there for two and a half years, I have seen around thirty people come and go (you are seen as disposable and they do not care about you, they tend to say that the door is not locked from the inside....) - Most of the advisors will sign up a prospect but once they see that they can't sell them anything more, they tend to send them off to client services. - Worst management you can possibly imagine in the Geneva office, very micromanaged environment, the manager appoints unofficially a consultant as his right arm and let that person act as a manager and boss people around... - deVere has a really bad reputation due to its cold calling, so it's quite hard to schedule meetings with prospects.

Advice to Management

- Train your Trainee/BDMs as future advisors instead of cold callers - Less micromanagement - Higher salary for Trainee/BDMs as their comms are liked to the consultant's performance - Paid for professional exams - More advertising and less cold calling

Very low salary provided in Switzerland for a Trainee/BDM at deVere, that is almost impossible to survive on( high rent and obligatory health insurance) , they provide you with 1800 CHF net p/m (Initially we used to get paid 3500 CHF p/m but the director decided to half it to "make us more hungry for money and work harder") and provide you with a 10% commission off of what your consultant makes (if you end up being paired with a bad or unqualified consultant no mater how hard you work you won't see any commissions come in, hence the huge turnover)

29 February 2020

See 1 more answer

5 May 2019

Does deVere Group offer sponsored degrees?

Pros

Fancy titles for everyone (everyone is some kind of manager or wealth “advisor”...but would you trust your money to people living pay check to pay check?) to sound more important than the unqualified call centre sales people they really are.

Cons

Recruiters and trainers lie about pay, relocation reimbursement, duties, etc., to attract new grads and people who can’t get decent jobs in their own countries. You’re nothing more than a sales person in a call centre/boiler room, trying to fool people into handing over their life savings to a bunch of crooks who will sell products with high commissions (anything over 2% is theft and devere will take 5-10% easy; there are probably saps paying even more but devere is not required to disclose fees in the UAE) and crazy restrictions that are banned in countries with real regulatory bodies that protect consumers. There’s a reason they had to shut down in the US, UK, and other more regulated countries. They mainly target Brit expats because their pensions can be moved out of the UK and into unregulated markets, so unscrupulous devere can take a big fat cut of those pension pots. Please note these are scum who told prospective clients that their pensions would not be safe with BP!! So they will lie and cheat to line their pockets. The people who remain at devere after the hard sales training boot camp are either idiots who don’t ask questions (which seems to be the case of most of the Dubai staff because all they care about is the next brunch or nightclub) or immoral, unethical thieves who think nothing of ripping off people for their own financial gain. If you want to be able to look at yourself in the mirror (and not go into debt chasing a pipe dream because they lie about the pay structure and relocation assistance and more than a few recruits had to hurry home after racking up credit card debt), stay away from devere.

Advice to Management

Grow a conscience and shut down the business.

Recruiters and trainers lie about pay, relocation reimbursement, duties, etc., to attract new grads and people who can’t get decent jobs in their own countries.

5 May 2019

See 1 more answer
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46 English questions out of 46

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