The deVere Group, the world’s largest independent financial consultancy group announced today the opening of a new office in Zambia to service the growing demand for independent financial advice in Southern Africa. This brings the total number of deVere offices in the region to seven, and signifies the company’s major commitment to this expanding market.
Zambia saw its financial situation grow in the last few years in large part due to the commodities boom, combined with debt relief and increased foreign aid. Furthermore, after little activity in the Copperbelt for many years, copper output has increased steadily since 2004, thanks to higher copper prices and the opening of new mines.
Craig Featherby, deVere’s Regional Manager said, “The country’s recent stability is enabling the broadening and diversification of the economy and as a result more people are moving to this area. They require financial advice that will enable them to prosper in that region and our local knowledge of the market enables us to provide the appropriate service”.
deVere & Partners Investment Services (Zambia) is the latest addition to the company’s growing number of offices worldwide. As more people turn to online platforms to manage their investments, deVere recently announced that it would continue to give emphasis to its online fund platform which clients can benefit from in conjunction with local assistance from a deVere adviser.
About the deVere Group
The deVere Group is the world’s largest independent international financial consultancy group. International investors and expatriates employ us to find financial services products that suit their medium to long term requirements for investments, savings and pensions. With in excess of US$7 billion of funds under administration and management, deVere has more than fifty thousand clients in over a hundred countries. Our independence and ability to offer financial products that are tailor-made to fit an individual’s needs are behind our success. As a result we now have offices in over forty countries. You can find us in Abu Dhabi, Brussels, Dubai, Geneva, Hong Kong, Johannesburg, London, Moscow, Sao Paolo, Shanghai, Tokyo and Zurich, amongst others. Please visit https://www.devere-group.com for more information about the deVere Group.
[WebWire]
The term consultancy is sometimes used euphemistically to indicate the provision of services which might be termed meaningless or trivial by most individuals, but which reap significant profits and payments on behalf of the consultant. Criticism of consultancy often centres around the lack of transparency and understanding in what particular types of services it is that consultants actually provide (an ambiguity which undoubtedly centres upon the lack of understanding of both the work of consultants and also the actual commodity which they are paid for – namely, advice).
The perception of a disproportionately high degree of pay for consultants (with respect to the worth of the services provided for that pay) is common and prevalent and a recurring misunderstanding which undermines the…
The perception of a disproportionately high degree of pay for consultants (with respect to the worth of the services provided for that pay) is common and prevalent and a recurring misunderstanding which undermines the ethical basis upon which consultants might otherwise suppose as a valid reason for their employment.
Is the Group offering any employment opportunities to Zambians? It would be good to know how many Zambians will be employed both at the London office and in Lusaka or the CB.
This financial group has not come to Zambia from nowhere. Forget copper- Zambia has probably a new resource the ordinary Zambian is unaware of to be exploited by the white man. Big INDEPENDENT financial corps do not just pop up like pop-corn in places like Zambia. Watch lare concessions of our land be put in the hands of foreigners.
mark my words. they have come to advise owners of the likes of Manda Hill shopping centre & other currrent & soon to come international companies which includes the mines to know who to smartly externalise their profits etc. they know that Zed is a rich poor country
lol start giving the “adivice” with state house, due to our “recent stability” with your “local knowledge” featherby chi colour
We need more asset and wealth managers in Zambia to give more Zedians skills in this lucrative field.
As a matter of fact I know the group well — their African operations have expanded from SA, Botswana,Mozambique, Uganda and now Zambia. It is an area where there is little or no expertise across a large part of Africa and it is great that a group like this are expanding into africa.
Here is the situation with DeVere and Partners:
They are just money hungry commission only salesmen with no financial qualifications. They cold call constantly to get business and have been banned in Singapore, Panama, France and given warnings in Muscat, Germany, Switzerland, Cape Town plus more……
DeVere and Partners have over 70% staff turnover. They sell products that are banned in the UK due to the excessive charges.
A single £500pm savings plan over 25years will earn devere (not the salesman) £6,300 in commission and not only that, the first 23 months payments that the client makes NEVER gets invested (it’s a front loaded policy) so all the clients premiums, that’s £11,500 in total, goes in commission and charges!!!!!!
Devere should be banned from business.
Wow, someone is bitter. As an employee of deVere (being Diploma qualified in the UK and also CIB registered in Hong Kong) I can categorically state that your post is garbage.
– We are money hungry, thats why we are self-employed, money motivates us
– Some of us have financial qualifications. For those countries which require qualifications they are always held before business is conducted
– We were not banned from Singapore, we pulled out. We are opening up an office in France soon
– We do not have a 70% staff turnover. That is co-ordinators who are usually graduates that come out here to travel and earn for a couple of years. Consultants have an 8% turnover
– You clearly dont understand the charging structure of investment products, perhaps I could explain it to you 🙂
Deveres are a disgrace to the industry and all hard working, honest financial advisers world wide. I have lost count the number of times I have met clients who have been ripped off by deveres consultants. The Deveres operation in dubai is run by a double glazing salesman who has absolutely no knowledge on financial products – this epitomises the DV approach – to hire salesmen rather than qualified financial advisers. If anyone thinks this is rant of a bitter competitor I urge you to google ”deveres group ifa complaints” and see the sort of response you get.
I am a former client and took out an investment with deVere – a Generali Vision 20-year life insurance policy – having naively believed the information provided by the “independent financial adviser”.He said exactly what I needed to hear to sign up. But I discovered afterwards that I had been misled. Misled about the nature of the investment (entirely unsuited to my needs), misled about deVere being an “independent financial advisory company” (not a sales organisation), misled about them searching the “whole market” (not a small group of expensive products) and misled about the supposed IFA’s financial qualifications (he was a salesman with a flexible attitude to the truth). They do what they do very well, but it’s not independent financial advice and it’s not honest salesmanship…
Wow,the nerve of the deVere employee….Fact:A majority of you blokes aren’t qualified in Financial Services-got a mix of ex-carpenters,door to door salesmen,policemen and tour guides.Fact:deVere was BANNED by MAS in Singapore and Bob Deal spent time in the cooler.Fact:The offshore products are not allowed in the UK due to their confusing,muddled up charge structures with management fees,initial units,establishment charges,plan fees..etc.People of Zambia,beware of these conmen.
Guys/Girls,
Just google ‘devere scam/fraud/complaints/investigation etc’ and you will soon find out what sort of company they are.
They do not create wealth for anyone but themselves through the use of confusing jargon and flagrant mis-selling. They have paid their bribes to get going in the country and will use underhand tactics to get hold of your details.
I urge you to do due diligence on the company before meeting with them and if you do, go armed with a list of questions (the first will be ‘please provide me proof that you are qualified to provide this advice’).
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