Kent Rosales
Senior Wealth Manager for Latin America
deVere Group Ltd
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deVere Group: Helping Mexican Clients Save for a Rainy Day

By Peter Appleby | Wed, 08/12/2020 - 13:18

Q: How has deVere Group's business grown since its entrance to Mexico?

A: deVere Group has grown well in Mexico, although we are yet to reach the same status we have in other parts of the world. Not many people in Mexico are aware of what financial advisers are and what financial advisory can do for them. Therefore, the exact range of benefits we offer are, to a degree, still unknown to many people.

Our main focus so far in Mexico has been to get our services out there so potential clients know we exist and understand the services we offer. deVere Group has an incredibly broad range of financial services at the international level. Considering the situation of the market at present and the uncertainty that abounds, it is a very timely moment for us to get our name out here in Mexico and let consumers know that we exist.


Q: Which financial advisory services does deVere Group offer to Mexican clients?

A: The two main areas that deVere is known for in the Mexican market are Financial Advisory Services, which includes regular savings and retirement planning, and wealth management for our HNW clients. On the regular savings and retirement planning side, we help clients organize financial plans to achieve mid to long-term goals for conventional savings or for their post-work life. The wealth management arm is about preserving capital value and fostering wealth accumulation. In Mexico, many people will leave sums of money in the bank that does little for them other than accrue small rates of interest. Instead, we advise clients on how to preserve and increase the value of their capital by taking advantage of the opportunity of investing capital in the world economy as opposed to limiting their reach to the Mexican financial system.


Q: How has COVID-19 changed clients’ behavior toward retirement savings?

A: There has been a big change. Our client base globally since the beginning of the year has grown considerably in comparison to the same period last year. The arrival of the pandemic has propelled a change that was already taking place but at a slower pace.

People are coming to understand that their financial well-being must be a priority. There was previously a lack of urgency and finances were often put on the back burner. Now that the consequences of life without a financial plan are clearer, there has been a definite growth in interest in our services from Mexican clients. People are now acting rather than waiting to see what happens. They are choosing to secure their financial health rather than waiting and becoming stuck between a rock and a hard place. The importance of saving has been brought home.

Many people are also realizing that they are able to get by during this difficult time precisely because of the savings they made in the past. This means people are appreciative of having sufficient resources or a source of alternative income to help out on a rainy day.


Q: What are the differentiators that deVere Group offers its Mexican clients?

A: deVere Group is one of the world's largest financial advisers. We are a very well-respected firm within the industry and are frequently quoted by such institutions as the London Stock Exchange and outlets like Yahoo! Finance. This leaves us uniquely positioned within the Mexican market. deVere Group can leverage its international acclaim and lean on its vast experience. This also helps us establish relationships with some of the world’s largest, oldest and most profitable financial institutions and enter business agreements with these financial institutions that can provide a myriad of products and services to our clients locally that would otherwise be out of their reach. Many of these benefits are available only through the deVere channel, which makes our services exclusive. Added to this is the fact that our products offer a higher level of flexibility than most alternatives in the Mexican market because they are regulated to EU and UK standards.


Q: How does the company leverage its expertise to deliver specialized services to individual clients?

A: deVere Group has access to a wide range of bond funds through its platform, as well as other securities like ETFs through our partner institutions, which helps us cater to our clients’ needs. But we do not focus as much on a level of return that we want to achieve across the board. Instead, we focus on the financial position of the individual client to best support their financial growth. My job is to understand my client's financial position and where they want to get to in the future, to then create a strategy to support that growth and bridge the gap between the two points.

Part of this bridging of gaps is to make sure clients can maximize safe and substantial returns and the growth of each individual policy that the client has with us. At the same time, we must mitigate the risk for the client that comes with being involved in the global financial market. We have access to a wide variety of managed funds and this is pivotal to ensuring that our client's portfolios are fully diversified, which is an important point during the volatile market behavior resulting from the COVID-19 pandemic. These managed funds have hundreds of underlying investments across countries, asset classes and subclasses, sectors, industries, companies and regions. These all assist in diversification and reducing the impact of any fluctuations in the market.


Q: Where does Mexico sit within the company’s global portfolio and what are your intentions for growth over the next 12 months?

A: Mexico sits within the Top 10 markets in the world for deVere Group. We are uniquely positioned within the Mexican market because we offer access to financial products that have simply not been available in the country prior to our entrance. The spectrum of benefits we provide increases our value within the local market. We continue to develop our business model here but due to COVID-19 there will likely be some changes made.

One focus is on increasing our digital presence as the role of technology grows in people's lives day by day. As a company, we strive to adapt to our clients’ behaviors. Due to mobility restrictions, a strong digital presence and availability will be a must for us. Over the last several years, we have been investing heavily into our mobile app assets to deliver global clients the financial services they need. We want to make everything available under the same roof. Today, we have seven mobile apps available in Google Play and the App Store. Through these apps, our clients have access to every investment service and solution that we have in place. Clients can also access investments and trade in different currencies through the deVere Vault. The Vault comes with a physical card powered by MasterCard and is helpful for overseas travel. Our intention on the digital side is to deliver a helpful and innovative service to clients, while sticking to our core offerings and the service we are known for.


deVere Group Ltd and is one of the world’s leading financial advisory consultancies. The firm helps clients secure their financial well-being through a range of investment and savings products and offers a platform for local investors and regular savers to access the global financial market

Peter Appleby Peter Appleby Journalist and Industry Analyst