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Devere Group harassment


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#101 GirlDrinkDrunk

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Posted 2013-10-01 08:44:26


I met with one of their consultants last year. When I met with the guy, he said something along the lines of "All I ask in return for coming down to meet with you and giving you some free financial advice is that you give me details of 10 friends/associates who may also be interested in my services..." or words to that effect. I explained that I would not give out that information but assured him that in the event I thought he was offering something that my friends would be interested in I would be sure to pass his contact details on to them. Devere got my number from a friend of mine who works offshore, had never been cold-called by an IFA before and thought he was doing me a favour.
 
My friend signed up for some kind of Generali savings plan/pension. I was on the brink of doing the same, more out of being too lazy to get round to doing any real research and from an urge to do "something constructive" towards my kid's future financial security, rather than any surefire belief that what they were selling was a good product. At the last meeting I had with the guy, during which I declined to sign on the dotted line, he left me a load of literature which I promised to read (and of course didn't) and the day before our next scheduled meeting I had resigned myself to proceed, overcoming my slight trepidation with a "How bad could it be?" attitude. As luck would have it, later that same day I experienced a rare and unexpected moment of clarity, and started asking myself a few questions such as: "If they are a truly independent financial advisor, why are they only really offering me (or pushing me toward) one product?" "Could it be that the product they are pushing me towards offers the most attractive commissions for them, as opposed to being what is actually best for me?" I then did some searching online which confirmed what others have posted. There seemed to be a lot of unhappy customers out there, and it appeared that all Devere's commissions were front-loaded so that all they were interested in was making the sale and then hoping that I was able to make (at least) the initial payments which would all be eaten up with their commissions, and I would not actually be making any real payments into the plan they were selling until something like 20 payments had been made (don't quote me on that number - could be more, could be less). 
 
Anyway, I informed the guy from Devere that I had changed my mind and my reasons for doing so which were greeted with the expected: "Well if you search online for information about any product you're bound to find some negative reviews, even for something like a Rolls Royce..." Thanks for the insight - Goodbye.
 
For future reference the boiler room boys are easily differentiated from the IFA's:
 
The IFA's will be pushing for a meeting, the BRB's will be trying to do everything over the phone and will never want to met you face to face.
When the BRB's call it will invariably be a bad line due to the dodgy switchboard/free phone call system they are using, and they will always suggest that they call you back rather than you call them and maybe catch them by surprise (they like to be prepared and sitting in front of their script when they speak to you).
The BRB's will be using a sales manual from the 80's which 1) advocates blowing smoke up your arse: "You're an intelligent man Jimmy, you know the way the markets work..." and 2) gets you into a "Yes" frame of mind: "So customers who followed our advice earlier this year and invested in xxxxx saw a net return of 325% in 7 months, and I think we'd both agree that's an attractive return, right Jimmy?" Errr... Yes. "Of course it is, only a fool would say otherwise, and I know that you're no fool Jimmy..." (see 1).
The BRB's hit you with a "barrow-boy" close: "If I was to offer you this 2 pound of peaches for 5 quid that would be a great deal, right?" Errr... Yes. "Of course it would, but I don't want 5 quid... I don't even want 3 quid for them. If you sign up today I can let you have this 2 pound of peaches for a quid. Yes, you heard me right, only a quid, AND... I'll even throw in this plum coz you caught me in a good mood..."

 
to me the best anology is:
 
The Devere lot are like used car salesmen
The Boiler room boys are like car thieves

Poor analogy. With the boiler room you never see the lot and most certainly don't get the car

#102 ralph81

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Posted 2013-10-01 08:53:17

There you go, this is where your fees go:

 

http://www.totallyde...mes-Murphy.aspx

 

Formula one races and posh hotels. For anyone thinking of investing in them. I thought I should find out the lifestyle of one of the agents I met, who was half my age.

 

R



#103 JMS

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Posted 2013-10-02 14:45:10

What made you meet with them in the first place.?

#104 ralph81

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Posted 2013-10-02 14:59:58

What made you meet with them in the first place.?

 

I had just moved to Thailand, my first week. Too naive. I thought they had something to offer and was not aware of what's going on here.

 

R



#105 mrtoad

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Posted 2013-10-10 08:45:03

I have had numerous calls from this sham outfit, and have repeatedly asked them to take me off their calling list. Yesterday, I answered a call on my HP (where they got my number, no idea), during a meeting; to get greeted to the tones of "Hello Mr...... , this is David from the Devere Group.." Like as if I knew the chancer, I am not sure what part of No these morons don't understand, but I am really getting fed up with this lot. I think this is the 3rd call in around two months, and all three times I have told them no, take me off your list.

 

I am sure more will be harassed by this BS group in the coming weeks



#106 samran

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Posted 2013-10-10 09:52:31

I have had numerous calls from this sham outfit, and have repeatedly asked them to take me off their calling list. Yesterday, I answered a call on my HP (where they got my number, no idea), during a meeting; to get greeted to the tones of "Hello Mr...... , this is David from the Devere Group.." Like as if I knew the chancer, I am not sure what part of No these morons don't understand, but I am really getting fed up with this lot. I think this is the 3rd call in around two months, and all three times I have told them no, take me off your list.

 

I am sure more will be harassed by this BS group in the coming weeks

 

String them along. Ask for a meeting at some god forsaken place and then don't turn up.



#107 mrtoad

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Posted 2013-10-10 10:05:06

 

I have had numerous calls from this sham outfit, and have repeatedly asked them to take me off their calling list. Yesterday, I answered a call on my HP (where they got my number, no idea), during a meeting; to get greeted to the tones of "Hello Mr...... , this is David from the Devere Group.." Like as if I knew the chancer, I am not sure what part of No these morons don't understand, but I am really getting fed up with this lot. I think this is the 3rd call in around two months, and all three times I have told them no, take me off your list.

 

I am sure more will be harassed by this BS group in the coming weeks

 

String them along. Ask for a meeting at some god forsaken place and then don't turn up.

 

Given my location, that would certainly be workable :-)

 

It seems though that "Devere Dave", is well known for harassing people.



#108 ralph81

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Posted 2013-10-10 10:09:09

 

 

I have had numerous calls from this sham outfit, and have repeatedly asked them to take me off their calling list. Yesterday, I answered a call on my HP (where they got my number, no idea), during a meeting; to get greeted to the tones of "Hello Mr...... , this is David from the Devere Group.." Like as if I knew the chancer, I am not sure what part of No these morons don't understand, but I am really getting fed up with this lot. I think this is the 3rd call in around two months, and all three times I have told them no, take me off your list.

 

I am sure more will be harassed by this BS group in the coming weeks

 

String them along. Ask for a meeting at some god forsaken place and then don't turn up.

 

Given my location, that would certainly be workable :-)

 

It seems though that "Devere Dave", is well known for harassing people.

 

 

FYI, he looked at my profile in Internations and LinkedIn before I started being harassed. I reported him back to both websites.

 

Still being harassed here too...
 



#109 h90

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Posted 2013-10-10 10:10:15

Tell them, you are poor, complete broke.....



#110 ajarnpot

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Posted 2013-10-11 06:36:10

de;eted

Edited by ajarnpot, 2013-10-11 06:39:08.


#111 mrtoad

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Posted 2013-10-11 11:16:52

Im possibly suspecting that "Devere Dave" has a bogus Linkedin account, which states he is a HR person with a respected recruitment company, and is sending out emails, asking if people are interested in a potential opening. With the return email, he is picking up the contact details. Not sure, but I would not put anything past these vermin



#112 brewsterbudgen

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Posted 2013-10-11 11:29:33

Anyone heard of Horizon Wealth Management? 



#113 Spoonman

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Posted 2013-10-11 11:35:19

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Anyone heard of Horizon Wealth Management? 

 

Sounds familiar, I think they called me a few days ago..... the lady had an incredibly sexy voice but seemed offended when I asked for some pictures of herself sitting on the toilet backing out a turd.
 



#114 QROPS

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Posted 2013-10-11 12:57:17

Anyone heard of Horizon Wealth Management?


Sounds familiar, I think they called me a few days ago..... the lady had an incredibly sexy voice but seemed offended when I asked for some pictures of herself sitting on the toilet backing out a turd.


Wow, how rude and disrespectful.

#115 Spoonman

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Posted 2013-10-11 13:12:00

 

 

Anyone heard of Horizon Wealth Management?


Sounds familiar, I think they called me a few days ago..... the lady had an incredibly sexy voice but seemed offended when I asked for some pictures of herself sitting on the toilet backing out a turd.

 


Wow, how rude and disrespectful.

 

 

Indeed, it is extremely rude and disrespectful of them to be calling me for a service I did not solicit nor have any desire to entertain. Now if only they understood NO as an answer maybe the harassment would end but unfortunately as we all know it simply does not.



#116 QROPS

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Posted 2013-10-11 13:32:33

Anyone heard of Horizon Wealth Management?

Sounds familiar, I think they called me a few days ago..... the lady had an incredibly sexy voice but seemed offended when I asked for some pictures of herself sitting on the toilet backing out a turd.

Wow, how rude and disrespectful.


Indeed, it is extremely rude and disrespectful of them to be calling me for a service I did not solicit nor have any desire to entertain. Now if only they understood NO as an answer maybe the harassment would end but unfortunately as we all know it simply does not.


No need to justify yourself to me. I agree the calls are unwanted and somewhat annoying, however proudly regaling us with your story of rudeness to this woman in a manner that is totally uncalled for says more about you.

Of course this is just my opinion which counts for not a lot in the grand scheme of things, so I will now bow out as I have expressed my thoughts.

#117 mrtoad

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Posted 2013-10-12 11:05:41

Anyone heard of Horizon Wealth Management? 


Not yet, but sadly I am sure the scum will call at some point.

#118 Arkady

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Posted 2013-10-12 11:31:01

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I note from articles on the Internet that The DeVere Group announced the acquisition of Broadgate Investment Advisory Securities Limited, a licensed Thai investment advisory firm, in September 2013.  It was not clear from the articles which unit of DeVere had made the acquisition, nor was the purchase price disclosed or any details of Broadgate's investment advisory business.  However, DeVere apparently identified synergy in the similarities between Broadgate and themselves. A DeVere spokesman was cited as saying, "One of the many reasons we acquired Broadgate was for the fact it operates in a very similar way to ourselves, offering bespoke, flexible, independent financial advice and financial solutions to investors."

 

Since the vendors of Broadgate Investment Advisory continue to operate their energy, construction and plantations advisory businesses under the Broadgate brand, it seems likely that Broadgate Investment Advisory will apply to change its name to avoid confusion.

 

Broadgate Investment Advisory currently lists two Thailand licensed persons on their website, both of whom are Thai and one of whom the website states also works full time as a commercial airline pilot - a true Renaissance man.  So if you are approached by a financial advisor from this new DeVere subsidiary and they are not Thai, the chances are that they are unlicensed in Thailand and cannot therefore legally provide investment advice in Thailand, even if they have been licensed in other jurisdictions.  If the advice comes over the tannoy while you are sitting on a plane, however, it may well be provided by a properly licensed individual. 



#119 GuestHouse

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Posted 2013-10-13 11:41:04

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I'm delighted to see we have a moderator with a critical view of the financial services industry as it affects Expats in Thailand.

 

Its a real breath of fresh air and very welcome given the total lack of any open discussion on these matters in the english language press in Thailand - where the financial advice pages are written by the very people who pose a risk to the financial welfare of expats. 

 

Keep up the good work - there is a real need for it. 



#120 mimithewoof

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Posted 2013-10-13 12:06:14

Spot on, Guest House - Arkady, you're a shining star in a gloomy night!



#121 ajarnpot

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Posted 2013-10-14 09:40:27

 

I note from articles on the Internet that The DeVere Group announced the acquisition of Broadgate Investment Advisory Securities Limited, a licensed Thai investment advisory firm, in September 2013.  It was not clear from the articles which unit of DeVere had made the acquisition, nor was the purchase price disclosed or any details of Broadgate's investment advisory business.  However, DeVere apparently identified synergy in the similarities between Broadgate and themselves. A DeVere spokesman was cited as saying, "One of the many reasons we acquired Broadgate was for the fact it operates in a very similar way to ourselves, offering bespoke, flexible, independent financial advice and financial solutions to investors."
 
Since the vendors of Broadgate Investment Advisory continue to operate their energy, construction and plantations advisory businesses under the Broadgate brand, it seems likely that Broadgate Investment Advisory will apply to change its name to avoid confusion.
 
Broadgate Investment Advisory currently lists two Thailand licensed persons on their website, both of whom are Thai and one of whom the website states also works full time as a commercial airline pilot - a true Renaissance man.  So if you are approached by a financial advisor from this new DeVere subsidiary and they are not Thai, the chances are that they are unlicensed in Thailand and cannot therefore legally provide investment advice in Thailand, even if they have been licensed in other jurisdictions.  If the advice comes over the tannoy while you are sitting on a plane, however, it may well be provided by a properly licensed individual. 

 

Arkady, I also know that devere have a a habit of chasing people in forums getyting owners to reveal ips etc. I am surprised the post has not been closed already.
yes a lot of information about de vere is in open press, I think with thai libel laws being so ... what word to use.. oh yeah user friendly its not worth posting about this ocmpany.

The web is littered with notices of" being pursued by our lawyers"

just want to give yo heads up since I assume you volunteer for forum , seem reasonable in comparison to others and no doubt owners will roll over at first sign of legal problems offering up admin and members alike

Edited by ajarnpot, 2013-10-14 09:43:33.


#122 Arkady

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Posted 2013-10-14 10:34:27

 

I note from articles on the Internet that The DeVere Group announced the acquisition of Broadgate Investment Advisory Securities Limited, a licensed Thai investment advisory firm, in September 2013.  It was not clear from the articles which unit of DeVere had made the acquisition, nor was the purchase price disclosed or any details of Broadgate's investment advisory business.  However, DeVere apparently identified synergy in the similarities between Broadgate and themselves. A DeVere spokesman was cited as saying, "One of the many reasons we acquired Broadgate was for the fact it operates in a very similar way to ourselves, offering bespoke, flexible, independent financial advice and financial solutions to investors."
 
Since the vendors of Broadgate Investment Advisory continue to operate their energy, construction and plantations advisory businesses under the Broadgate brand, it seems likely that Broadgate Investment Advisory will apply to change its name to avoid confusion.
 
Broadgate Investment Advisory currently lists two Thailand licensed persons on their website, both of whom are Thai and one of whom the website states also works full time as a commercial airline pilot - a true Renaissance man.  So if you are approached by a financial advisor from this new DeVere subsidiary and they are not Thai, the chances are that they are unlicensed in Thailand and cannot therefore legally provide investment advice in Thailand, even if they have been licensed in other jurisdictions.  If the advice comes over the tannoy while you are sitting on a plane, however, it may well be provided by a properly licensed individual. 

 

Arkady, I also know that devere have a a habit of chasing people in forums getyting owners to reveal ips etc. I am surprised the post has not been closed already.
yes a lot of information about de vere is in open press, I think with thai libel laws being so ... what word to use.. oh yeah user friendly its not worth posting about this ocmpany.

The web is littered with notices of" being pursued by our lawyers"

just want to give yo heads up since I assume you volunteer for forum , seem reasonable in comparison to others and no doubt owners will roll over at first sign of legal problems offering up admin and members alike

 

 

Thanks Ajarn but I have simply posted information about DeVere's acquisition in Thailand that is publicly available on the Internet, derived from its own press release,  information from Broadgate Advisory's website together with factual information from the SEC about Thailand's investment advisory licensing laws. I have had no business dealings with either company and have not met any of the individuals involved, nor did I express an opinion about them.  If DeVere had wanted to keep its acquisition in Thailand a secret, it could have kept quiet about it.

 



#123 ajarnpot

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Posted 2013-10-15 09:58:16

fair enough, http://muscatconfide...ewhat-bent.html it seems that http://whocallsme.co.../02072454429/22 the pr team must work very hard to deal with all this stuff. I expect if one were to be employed for dealing iwth all the forums and what have you it would be a nice little earner, could spend all day and all year doing it. http://www.ripoffrep...CEO-Stev-727725 not sure if we are allowed to post these https://www.devere-group.com/

#124 Misty

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Posted 2013-10-26 08:19:49

 

 

 

Thanks Ajarn but I have simply posted information about DeVere's acquisition in Thailand that is publicly available on the Internet, derived from its own press release,  information from Broadgate Advisory's website together with factual information from the SEC about Thailand's investment advisory licensing laws. I have had no business dealings with either company and have not met any of the individuals involved, nor did I express an opinion about them.  If DeVere had wanted to keep its acquisition in Thailand a secret, it could have kept quiet about it.

 

 

 

The South China Morning Post wrote on a related topic this past week - the online article is called "DeVere faces down bad practice claims -Clients complain that unlicensed advisers sold them insurance products and used aggressive sales tactics, an investigation by the Post reveals"



#125 Fatfrank

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Posted 2014-07-24 17:36:07

Just got this email invitation if anyone is interested in attending........

 

 

How about a gourmet dinner with some interesting financial opportunities on the side?
deVere Group Thailand is happy to invite you to an exclusive dinner at the award-winning restaurant Enoteca Italiana in Sukhumvit soi 27. The event is complimentary so this is a perfect opportunity to speak to the best in the industry regarding any aspects of finance and your long term financial prosperity.
The invitation is for two people so this is also a good opportunity to bring along any friend or colleague you believe may benefit from such information.
The moderator for the evening is Dr. Richard Johnsson of the deVere Group in Thailand who will be accompanied by Mr. Idris Asghar and Mr. David Dunn. 
Welcome!
RSVP: Register now by sending an email to arjun.bapat@devere-group.com no later than July 30th. Name and mobile number required. NB! Limited number of seats, so register today.
 
The Team
About Dr. Johnsson 
Richard received a Ph.D. in economics from Uppsala University in Sweden, but has also studied at Sydney U, Innsbruck U and Oxford U.
He has spent the last decade in the wealth management industry in client facing roles, as a CEO in China and as a private banking executive in Sweden. 
Richard lives in Bangkok with his wife Jessica and three sons, Dante, Hector and Leon. You can see his LinkedIn profile at http://th.linkedin.c...richardjohnsson
 
About Idris
Idris has been in the finance industry for the best part of a decade, working as a corporate manager at HSBC HQ in London. He joined deVere Group in 2014 to help expand operations and apply his expertise in working with multinational corporations and specializes in asset management and investment portfolios. 
Idris now lives in Bangkok and manages a client base across Thailand and Myanmar. You can see his LinkedIn profile at http://th.linkedin.com/in/idrisasghar
 
 
About David
David has a background as a Professional Engineer and has worked for Fortune 500 companies in North America. He has assisted individuals in personal finance and investing for over 20 years. He joined the deVere Group in 2013 to continue to help people grow their personal wealth and reach their financial goals. He is currently taking on new clients.
David lives in Bangkok with his wife Elaine and has 4 daughters, Aria, Mairi, Hannah and Julia. You can see his LinkedIn profile at http://th.linkedin.c...n/daviddunnpeng
 
Kind Regards,
Arjun Bapat BA (Hons), ACSI
Financial Coordinator,  
Mob: +66 88 504 1194 / Tel: +66 2260 6830-36 | Fax: +66 2260 6837






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