Nigel Green, the CEO and founder of revered financial advisory deVere Group, has sold further shares in the Maltese pension provider STM. Green initially held a 24% stake in the provider, but has just sold off another 240,000 shares, despite the fact hat the share price continues to increase. He now holds just a 6.7% stake in the company.
Green stated that his reasons for investing in the company initially were born completely out of how impressed he was with the products they provided and the service they were able to offer. Thousands of deVere clients looking to utilise the huge benefits on offer when transferring a UK pension into a Qualifying Recognised Overseas Pension Scheme (QROPS), wee placed with STM and have seen their pensions perform at levels far beyond the majority of pension providers across the globe.
Mission Accomplished
In a statement, the CEO said: “The investment I made in STM was always only ever intended to be a short-term one.” He went on to state that his investment was geared toward providing the necessary funds for the company to develop their business and implement a growth strategy. It would appear his investment has certainly served its purpose as the share price continues to grow, and more expatriates looking to benefit from the substantial benefits a QROPS can offer, select STM as their provider.
Green’s statement continued: “It was clear that a growing number of individuals were considering moving their pensions out of the UK and into Malta-based, HMRC-recognised QROPS in order to take advantage of the many associated benefits of having their pensions in a safe, secure and lower-tax jurisdiction in the EU.
“I had been – and still am – consistently impressed with STM’s products and world-class level of client service. As such, I provided additional resources to enable the firm to develop, as this would allow deVere clients to work with a QROPS provider that boasts the best administration and business practices.
“Despite the share price recently rising to 50p, now that STM has further developed and grown and is a profitable, sustainable ‘tour-de-force’ in the cross-border product sector, my objectives have been achieved and my personal financial interest in the company will continue to be reduced in an orderly manner as the opportunity arises. The climb in share prices perhaps suggests that there are many interested parties, which can only be a positive indicator of STM’s future.
“My primary focus is, and always has been, the responsible and robust development of deVere Group.”
Since starting the deVere Group in 2002, Nigel Green has led his company on to become the world’s largest independent international financial advisory. Green’s motivation and determination to build a high-class team of professionals whose priority is to build strong client relationships and collaborative financial planning, has become an extremely appealing business model, both to the 80,000 plus clients across the world, and the huge number of smaller financial institutions that use the deVere strategy as their own blueprint to attempt to make an impact in a notoriously difficult industry to succeed in.
With over 80 offices in all areas of the globe, and in excess of $10 billion under its administration, deVere Group continues to grow and move into new territories, bringing with it the most experienced advisers and a reputation among clients that is the envy of the industry.
