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.