Nigel Green did not realise deciding to focus on financial planning for expats would trigger demand so great that his business would become the largest international finance advice firm in the world.
Since founding deVere Group in 2002, Green has seen the firm become a market leader and he is lauded as an industry guru as he sits at the helm of a business with more than 80,000 customers spread across 100 countries.
The company has exploited a need for professional and independent financial planning for expats that has seen them put more than $10 billion on investment with deVere Group’s partners.
Despite competitors springing up worldwide, deVere Group seems to keep on growing.
The firm now has 71 offices around the world where hundreds of independent advisers are based ready to give local advice to expats as they move between postings.
Best financial advice for expats
They are backed up by teams of administrators who make sure the business ticks over and specialists who keep up with cross border tax and investment advice.
“We know our customers and have structured a market where they can come to us for all their financial needs wherever they live,” said Green.
“I can still see massive potential as the result of several years of low interest rates and disappointing investment returns. Expats do not trust governments or the banks anymore and understand they need to make their own plans.
“They need the best advice they can get and we’re there ready to give it.”
Global warning
The bad news for deVere Group’s rivals is the company may be the biggest, but Green is still looking to grow.
Disarmingly, he often puts the success of his company down to luck.
“The world is more international and we were there to help people with international advice. More people are ready to move their jobs and look for careers abroad. We have been lucky to be ready and waiting for the opportunity to help them,” said Green.
Despite his protest, a business like deVere Group does not happen by chance and 15 years on, green is reaping the rewards of planning, hard work and maybe a slice of luck to help along the way.
I cannot judge whether DeVere are better or worse than others in the same space, but there is a better way to manage your finances and savings – do it yourself!
No one trader, or investment vehicle can sustainably out-perform the market. They might beat it over a period, but in the longer run break-even will be as good as it gets – and never let anyone try to convince you differently. Markets will always be volatile, and completely unpredicable, the more you try to “game” these, the higher the risks. Remember that if you suffer a 30% loss overnight, you need a 50% regain just to get back to your starting point – and that can take years if not forever. And we have seen crashes or 30% or more occurring more and more regularly recently.
If you manage (passively) your own money, and spread it between the 4 core asset groups of; Stocks, Bonds, Gold and Cash, you will build a very balanced and extremely low risk portfolio. You will also pay 0.x% in fees and not 4% upfront. So through an investment fund, already they need to out-perform the market by 3% continuously and that is simply not possible, just to return you average market returns.
I had used investment funds run by “independent financial advisers” for 15 years, with the end result of a slight decrease in overall capital invested. Just passively following markets would have achieved a 6-8% per annum gain.
Think twice before trusting a for profits organisation with your hard earned savings, they get paid upfront and certainly do not have your best interests anywhere near the top of the priority list.
Thank you for reading.