deVere Group

Don't work for them, the role is nothing like the recruiters and trainers have you believe, they are nothing more than glamourised time share salesmen who care for no one. I worked for them in Asia following a weeks training in London, they told me i would have a coordinator with a diary full of appointments but when i arrived there was nobody there and all the mangers said was go out and find your own way. This apears to be the norm in most devere offices, sink or swim attitude and throwing more and more mud at the wall hoping some of it will stick. Don't buy from them they have the worst reputation in the industry for client service only caring about the commisions they make.

So, you’ve been recruited by a so-called independent offshore recruiter and he promised you a world of fame and riches. You can’t resist and you are on your way to a presentation in Knightsbridge for one of the biggest Offshore Financial Advisers in the World. It’s a dream come true.

Now, it wouldn’t be fair to tell you everything at the presentation. You might be told enough to get your juices flowing. Most of the fine details arrive when you get to your destination.

But behold. I can help. Here is a guide based on information recorded during the ‘Offshore Adventure’:

Self employed-of course

Commission Only-naturally

You will need to find and pay for all your travel and accommodation

You will receive roughly 50% of the commission, but of course, this doesn’t include any over-ride, so in reality, you will be lucky to get 40%.

You normally pay your co-ordinator 20% of the commission (whether you have one or not!)

You pay for 50% of your coordinators accommodation-although this might be shared by a couple of advisers so 25% each

You pay an additional 5% of you commission away in the first few months until you bank 60K to repay your training costs

You pay a further fee from your commission to pay for the office costs such as telephones and paper etc

You will be expected to find data, i.e. names of people to call and then cold call them if you don’t have a coordinator

You will have to bring your own laptop

Your destiny is in your hands-of course

This is based on information obtained in 2009 and therefore, may be subject to change without notice and is a guide only.

The commission structures vary considerably amoung firms but one thing to consider, you will almost always be commission only and self employed and rarely do you get a cut of the full commission the firms recieves, no matter what they tell you….