Alexander Forbes Charging Ongoing Advice Fees and No Feedback On Queries

In mid-2015 I transferred my pension fund into an Alexander Forbes Preservation fund as a direct client.

On the application form I expressly crossed out the portion electing ongoing advice from Alexander Forbes Financial Planning Consultants.

An e mail was then sent advising that I cannot delete the portion whereby I need to utilise a financial advisor (not sure how ethical this is in terms of the Consumer Protection Act or of a customer's own free choice).

Extract of the e mail as follows:

From: Alexander Forbes Preservation Fund Sent: 16 November 2015 11:08 AM To: Fritz Luana; Naidoo Annette Cc: Alexander Forbes Preservation Fund Subject: FW: Marc Musson - TRF to Pres Prov

Hi

I see that the member has deleted the Part B.

Please note that the AFICA disclosures (Part A) need to full agreed to prior to us returning the signed ROT. Member cannot delete.

I begrudgingly signed the form accepting the election of Alexander Forbes Financial Planning Consultants in order for me to get the transfer wrapped up (the transfer took a good few months to be completed).

Recently, upon checking my portfolio I was dismayed to see the effect that the broker fees were having on my returns especially considering that I have not wanted to utilise a financial consultant.

I queried the cancellation of ongoing advice fees via Alexander Forbes' "Contact Us" facility on their website, to date I have not received any feedback.

I then requested via email to the gentleman that initially assisted with my fund transfer, that the broker fees be cancelled. He duly forwarded my request to *** on 30/07/2019.

I followed up by e mailing *** on 05/08/2019 and 06/08/2019 but have not received any feedback.