| Type | AG (Joint stock company) |
|---|---|
| Industry | Financial services |
| Founded | 1975 |
| Headquarters | Frankfurt am Main |
| Products | Life insurance, Mutual funds, Annuities |
| Website | www.dvag.com/ |
Deutsche Vermögensberatung (DVAG), which in English loosely translates as "German financial advisors", is a German Multi-level marketing investment company based in Frankfurt, Germany. The DVAG is operative in Germany, Austria and Switzerland.
The sales force consists of more than 37,000 so called "Vermögensberater" (Financial adviser) with about 5.4 million clients. In 2005 the company reached revenues of 833 million €. The Assets under management are listed as 123.6 billion €. [1]
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The Deutsche Vermögensberatung (DVAG) is managed by seven people. The members of the DVAG are:
The two sons of Dr. Pohl working near to his father, the chairman of the DVAG:
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.
Since 2008, as the DVAG absorb the advisors of the AachenMünchener Insurance Company, the Deutsche Vermögensberatung is called "The DVAG-Group"
DVAG is famous for their sponsorship of Michael Schumacher and Nico Hülkenberg via branded caps.[2] The company has also had an association with FC Kaiserslautern since 1996.