DeVere Investments has appealed a court ruling that it must pay ZAR3.7m (£217,380, $280,535, €256,142) in outstanding commission, notice paid and an unpaid portion of a bonus to an area manager it fired.
A sacked area manager of deVere Investments South Africa who faced off against group chief executive Nigel Green in court has been awarded a ZAR3.7m (£217,380, $276,020, €252,420) payout.
Nigel Green, the chief executive and founder of deVere, has underscored his firm’s commitment to maintain a presence in each country where it currently operates, including the US, as speculation grows over where changes expected under a strategic review now underway are likely to be made.
Ex-deVere UK managing director Mike Coady is heading up Guardian Wealth Management’s new corporate solutions division in the UAE.
International advisory firm deVere has denied claims that it has been investing its South African clients’ money in offshore funds which have not been approved by the country’s regulator, blaming the “unfounded allegations” on a disgruntled former employee.
International advisory firm deVere has been accused of investing South African clients’ money in offshore funds which have not been approved by the country’s financial services regulator, according to a report by news feed Moneyweb.
The sharp increase in people transferring out of defined benefit (DB) pension schemes poses risks for investors and the industry, says Tom McPhail, head of policy at Hargreaves Lansdown. His warning comes as the UK’s pension transfer industry remains under close regulatory scrutiny.
DeVere Group has launched a new banking app to coincide with its recently-unveiled plans for an investment bank on the offshore jurisdiction of Mauritius.
Sixteen UK firms agreed to stop any activities related to pension transfers in the 12 months to January 2017, the Financial Conduct Authority has revealed.
DeVere Group chief executive Nigel Green has launched a strategic review of the company’s business which will factor in the surprise Spring Budget announcement of a 25% overseas pension transfer charge on Qrops plans in some markets and particular circumstances.
DeVere Group is to launch an investment bank on the offshore jurisdiction of Mauritius.
The Financial Conduct Authority’s (FCA) investigation into deVere UK, launched after the regulator banned the firm from writing pension transfer reports, is “just the beginning”, according to Geraint Davies, managing director of Montfort International, with other firms also likely to be caught out.
