Thread: PFS-Platinum Financial Services: Ok?

Originally Posted by Butterfly

annual returns won't matter then

recurring inflammations are surely a concern ?

Originally Posted by baldrick

recurring inflammations are surely a concern ?

not annal returns, you devious dumb Aussie !!!

*bump

I got cold called in work this evening by a co' called devere group. This bloke started going on about there financial services, pension and wealth services.
I found their website
https://www.devere-group.com/

I dunno but they sounded very "boiler room" to me. There's a thread on TV but it's been closed. Any one got any info on them?

Originally Posted by rebbu

I got cold called in work this evening by a co' called devere group

Originally Posted by rebbu

they sounded very "boiler room" to me.

Sometimes, we answer our own questions within the same sentence

I read some disturbing things about this Devere group online. I have a meeting with my fund advisor on Friday, I'll ask him what he knows about them.

Originally Posted by Scandinavian

I read some disturbing things about this Devere group online. I have a meeting with my fund advisor on Friday, I'll ask him what he knows about them.

Thanks mate.
When they cold called me the other night I got a shock as to how much info they had on me. The had my office phone at work (unlisted), they knew what time I started work and where I was working. I reckon someone on the job is selling them the expat info.
I had a similar problem in Russia with a boiler room.

Originally Posted by rebbu

*bump

I got cold called in work this evening by a co' called devere group. This bloke started going on about there financial services, pension and wealth services.
I found their website
https://www.devere-group.com/

I dunno but they sounded very "boiler room" to me. There's a thread on TV but it's been closed. Any one got any info on them?

they are regulars at the FCCT and often do "tax" presentation

heard one of their "consultant" pitching some old British Retiree dude who could have been a TD poster

the "consultant" was obviously a TEFLEr, but he did a good job at presentation and being low key, polite and somewhat "professional" in the presentation. The retiree was obviously an easy mark and sounded desperate to invest his money anywhere so he could supplement his monthly income and finance his weekly trips to nana and cowboys. That's basically their market. Almost tempted to give a try for a laugh but I would be in violation of all my professional ethics. Must resist temptation of the easy mark. Easy money for sure.

I'd be glad if you Mr Bbutterfly would refrain from commenting anything on my threads. Your input in my posts are not needed.

Is there a way to block this guy?

Originally Posted by Scandinavian

I'd be glad if you Mr Bbutterfly would refrain from commenting anything on my threads. Your input in my posts are not needed.

Is there a way to block this guy?

what are a pretentious little man you make,

this is why guys like you are the perfect mark, you can't face the reality and want to hear fairy tales in their investment opportunities, hence they get taken to the cleaner for it.

Post the links about Devere gossip, it could be useful for others. Or are you waiting for the right moment to pitch your own fund advisor company under the false pretense of asking for advice ?

Originally Posted by sabang

You can easily set up a savings plan invested in low or no load mutual funds, thus avoiding the costs and inflexibility associated with these insurance company vehicles.

exactly, but most people are lazy and don't want to do the research and go through the paper work

Originally Posted by sabang

Be wary of funds investing in things like long term forestry, legal loans, 'Fund of fund' Hedge funds (where you don't know what the heck is in there- I got caught by that), even student accomodation. The less plain vanilla, the less you should trust it.

amen to that,

Originally Posted by Scandinavian

I won't post any more replies here, since I can't stand arrogant s.o.b's like you. Other's will get information in PM's though.

Oh I see now, so you were pitching for your Fund Advisor.

Are you one of those boiler room type consultant too ? and you are going to use TeakDoor PM to do your pitches ? very smooth approach dude

let me guess, your fund advisor platform is ...

here I have found the links on Devere. This one is about their recruiting of agents, it's quite funny to read. The problem is Devere is not alone, they are all mostly like that, even the big names like AXA.

Devere Group scam I went on the rip off course Review 285053 Jul 26, Temple, Texas, Devere Group @ Pissed Consumer

apparently the new hires have to pay for their own costs etc...

it seems to be the perfect jobs for TEFLErs

Next I had an interview was with a guy who said he was the former coordinator for XXXXX. He was a real *** and I was a bit miffed as I had travelled a long way to Birmingham for what was in essence a 10 minute chat and a *** aptitude test for 10 yr olds, he was really only interested in whether I had the money to fund myself while abroad and that I was breathing.
Next I went on the course. It was mainly based on learning a sales pitch. I was stunned at the lack of financial training given. It was just a comedy sales course about learning a sales pitch to lead a customer into saying "˜yes' .
It would be almost impossible to fail the course. My trainer gave everyone the answers to the final day tests. The trainer on my last day sat down and he called the manager of my office and confirmed I had passed the course and that I would have a coordinator on arrival.

jesus, this is brutal

I started as an IFA not a coordinator. I arrived at my office a couple of weeks later. There were terrible morale issues from the start. Staff were coming and going all over the show, arguing and shouting. There was unbelievable racial abuse towards one black and one asian coordinator by the managers. I was told on the training course I would get help with finding accommodation but when I arrived I was simply chucked a couple of rental website links and told to get on with it. Contrary to what I was told at the presentation, interview and by the trainers, I was told by my office manager I would only get a coordinator after a couple of months and in the meantime, I was handed a list of 100 or so people to cold call and get some appointments for myself.

This could be interesting to read for Harry, confirming what I have been telling him all along

The final straw was watching as the manager and a so-called IFA laughed came back from an appointment having taken some guy for 10K in commission for a plan he didn't need and (as they pointed out with more laughs) was underperforming anyway. I didn't think there were really people like that but devere had plenty of them.
Now don't get me wrong, there were one or two guys in that office earning good money but in all honestly, even they agreed with me that within devere there was a culture of lies and deception and you had to put your conscience away in a locked room because you were taking clients for a commission rollercoaster ride.

another link below, again they are not alone, it's a general practice in the "Life Insurance" industry

http://www.complaintsboard.com/compl...s-c335163.html

If you have ever purchased a product through this company then I STRONGLY advise you to check the advise you were given with the product provider.

In particular check the fee structure is as advised and the terms and conditions.

If you havent purchased through them then my advise is don't. Avoid them like the plague.

I purchased an international plan and asked in depth questions about their fee structure and terms and conditions. I have since found out that documentation that I should have been given was not provided.

These documents would have answered all the questions I had, I therefore had to rely on information they provided verbally. This turned out to be incorrect which benifited them at my expense.

interesting how they do it, didn't know that

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!!!

isn't this our bkkandrew resident down there in that picture ? he seems to have changed name, but face is the same

EXCLUSIVE -Top Financial Advisor - Now Laundering in Pattaya - Andrew Drummond

But that’s a strange letter from one of the top bosses of ‘an international company’.

But nobody in this business says ‘We screwed up’ - and they earn money whether you win or lose.

That’s of course just one example, and Barclay Spencer International or PFS, or whatever, will no doubt claim many successes.

The thing is both Barclay Spencer – PFS and the biggest of all DeVere’s have two strands of worker – the haves or have nots.

The haves are loaded and driving about in big cars. The have-nots hang out in cheap snooker bars in Bangkok because they are on commission only and still awaiting the expected earning ‘in excess of £100,000 a year’.

Many of them are about as qualified as ‘boiler room boys’ but they don’t get a Jacuzzi with three prostitutes if they ‘close a deal’.

The only difference is that boiler rooms sell you shares on non-existent or not operating companies, if you lose money with a financial advisor, it will be for investing in the wrong but genuine fund.

As I said on my previous post, on paper initially and through the BS it looked good. Once I had looked properly and asked for the paperwork showing Net it wasn't so good.

How they can justify taking 10% of the payments every month + the other charges. Fucking extortionate.

ok here we go for the "Professional Portfolio"

- Establishment charge of 2% on each deposit
- Admin Charge of 1.5% per year on your capital or investment value whichever is higher
- Service Charge of 800 USD per year
- Fund Service: 1.5% annual charge + 50 USD per trade + Spread of 1% or 2%
- Termination Fees: 8% early termination decreased by 1.2% per year

For "Vision", it's similar but the establishment charge are lower and the administrative fee higher.

- Establishment charges of 1.5%
- Administrative fee of 2% per year for first 10 years, then 0.3% per year
- if early termination, all administrative fees have to be paid until the term of the contract
- 1.5% for Fund units allocated

For a contract of 100,000 USD over 10 years, this means:

1,500 USD in deposit charge + 20,000 in Admin charge + 15,000 in Fund Service charge + Service charge + Trades charges

Total to be paid in their contract terms: 36,500 USD ++

something to review here for the CM Expat Club