Deutsche Vermögensberatung
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| Deutsche Vermögensberatung AG | |
|---|---|
| Type | AG (Joint stock company) |
| Founded | 1975 |
| Headquarters | Frankfurt am Main |
| Industry | Financial services |
| Products | Life insurance, Mutual funds, Annuities |
| Website | www.dvag.com/ |
Deutsche Vermögensberatung (DVAG), which in English loosely translates as "German fortune advisors", is a German Multi-level marketing investment company based in Frankfurt, Germany.
The salesforce contains of more than 32.000 so called "Vermögensberater" (Financial adviser) with about 3,9 million clients. 2005 the company reached revenues of 833 million €. The Assets under management are 123,6 billion €.
[edit] History
DVAG was founded 1975 by Reinfried Pohl as "Kompass Gesellschaft für Vermögensanlagen mbH". From 1967 to 1969 Pohl worked for Investors Overseas Service (IOS), building up a strong sales force for financial services using a Pyramid scheme. After the insolvency of IOS, Pohl took over 500 salespeople from IOS to his new company.
[edit] Sponsorship
DVAG is famous for their sponsorship of Michael Schumacher via a branded cap. The company has also had an association with FC Kaiserslautern since 1996.
[edit] External links
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