MS
Miguel S
1 reviews | Active since Nov 2020
21 Feb 2025, 13:45
Don't invest with Alexander Forbes
I have a provident fund with Alexander Forbes and they will not let me withdraw the money that is legally mine until I resign (which could be years in the future). There must be some law out there that says if you need the money (which I desperately need) you can withdraw the money. And when I try and contact them I get no response.
I would not invest with Alexander Forbes.
Helpful (0)
Replies (11)0
Replies (11)
Alexander Forbes Financial Services's replyOfficial
21 Feb 2025, 15:03 Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
Alexander Forbes Financial Services's reply21 Feb 2025, 15:03
Official
Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
MS
Miguel S's updateReviewer Update
31 Mar 2025, 19:06I received no feedback and discovered an even bigger issue.
I have had money with them for 2 years and so far I have paid them R3,000 and the fair value of my fund has decreased by R5,000. So I have lost R8,000 and received nothing in exchange.
I have had money with them for 2 years and so far I have paid them R3,000 and the fair value of my fund has decreased by R5,000. So I have lost R8,000 and received nothing in exchange.
MS
Miguel S's update31 Mar 2025, 19:06
Reviewer Update
I received no feedback and discovered an even bigger issue.
I have had money with them for 2 years and so far I have paid them R3,000 and the fair value of my fund has decreased by R5,000. So I have lost R8,000 and received nothing in exchange.
I have had money with them for 2 years and so far I have paid them R3,000 and the fair value of my fund has decreased by R5,000. So I have lost R8,000 and received nothing in exchange.
MS
Miguel S's updateReviewer Update
02 Apr 2025, 08:29Notice that there is no reply from the company.
And I haven't heard anything from the company personally.
Not a company you want to be a customer of.
And I haven't heard anything from the company personally.
Not a company you want to be a customer of.
MS
Miguel S's update02 Apr 2025, 08:29
Reviewer Update
Notice that there is no reply from the company.
And I haven't heard anything from the company personally.
Not a company you want to be a customer of.
And I haven't heard anything from the company personally.
Not a company you want to be a customer of.
Alexander Forbes Financial Services's replyOfficial
02 Apr 2025, 09:09 Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
Alexander Forbes Financial Services's reply02 Apr 2025, 09:09
Official
Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
MS
Miguel S's updateReviewer Update
02 Apr 2025, 09:13This is boilerplate response that Alexander Forbes sends to all the complaints on Hello Peter.
It has no substance and means nothing to me.
It has no substance and means nothing to me.
MS
Miguel S's update02 Apr 2025, 09:13
Reviewer Update
This is boilerplate response that Alexander Forbes sends to all the complaints on Hello Peter.
It has no substance and means nothing to me.
It has no substance and means nothing to me.
MS
Miguel S's updateReviewer Update
03 Apr 2025, 08:33Let me reiterate. Do not invest with AlexForbes. They do not care about their customers. They only care about their hard earned money. Please...Do not invest with AlexForbes.
MS
Miguel S's update03 Apr 2025, 08:33
Reviewer Update
Let me reiterate. Do not invest with AlexForbes. They do not care about their customers. They only care about their hard earned money. Please...Do not invest with AlexForbes.
Alexander Forbes Financial Services's replyOfficial
03 Apr 2025, 09:14Dear Miguel
Please be advised that one of our specialists will be in contact with you.
Please be advised that one of our specialists will be in contact with you.
Kind Regards
Customer Insights and Escalations
Alexander Forbes Financial Services's reply03 Apr 2025, 09:14
Official
Dear Miguel
Please be advised that one of our specialists will be in contact with you.
Please be advised that one of our specialists will be in contact with you.
Kind Regards
Customer Insights and Escalations
MS
Miguel S's updateReviewer Update
04 Apr 2025, 14:46The specialist did call me.
However, she referred to the first complaint about not being able to withdraw money and told me the rules as have already been explained to me.
She then referred to another complaint that had nothing to do with me which was weird and very confusing.
I then had to help her by pointing out the most recent complaint which has not been addressed as she said she would call me back - she did not call me back.
I have currently lost R4,000 (thankfully its improved from R5,000) due to fair value movements over two years.
I worked out if I had the money in my bank account I would have made R8,260 just on the interest. So effectively I have actually lost R12,000 over 2 years. And that excludes the R3,000 I have lost paying them for giving me a R4,000 loss.
Does anyone else think that this is paramount to *****ing?
However, she referred to the first complaint about not being able to withdraw money and told me the rules as have already been explained to me.
She then referred to another complaint that had nothing to do with me which was weird and very confusing.
I then had to help her by pointing out the most recent complaint which has not been addressed as she said she would call me back - she did not call me back.
I have currently lost R4,000 (thankfully its improved from R5,000) due to fair value movements over two years.
I worked out if I had the money in my bank account I would have made R8,260 just on the interest. So effectively I have actually lost R12,000 over 2 years. And that excludes the R3,000 I have lost paying them for giving me a R4,000 loss.
Does anyone else think that this is paramount to *****ing?
MS
Miguel S's update04 Apr 2025, 14:46
Reviewer Update
The specialist did call me.
However, she referred to the first complaint about not being able to withdraw money and told me the rules as have already been explained to me.
She then referred to another complaint that had nothing to do with me which was weird and very confusing.
I then had to help her by pointing out the most recent complaint which has not been addressed as she said she would call me back - she did not call me back.
I have currently lost R4,000 (thankfully its improved from R5,000) due to fair value movements over two years.
I worked out if I had the money in my bank account I would have made R8,260 just on the interest. So effectively I have actually lost R12,000 over 2 years. And that excludes the R3,000 I have lost paying them for giving me a R4,000 loss.
Does anyone else think that this is paramount to *****ing?
However, she referred to the first complaint about not being able to withdraw money and told me the rules as have already been explained to me.
She then referred to another complaint that had nothing to do with me which was weird and very confusing.
I then had to help her by pointing out the most recent complaint which has not been addressed as she said she would call me back - she did not call me back.
I have currently lost R4,000 (thankfully its improved from R5,000) due to fair value movements over two years.
I worked out if I had the money in my bank account I would have made R8,260 just on the interest. So effectively I have actually lost R12,000 over 2 years. And that excludes the R3,000 I have lost paying them for giving me a R4,000 loss.
Does anyone else think that this is paramount to *****ing?
MS
Miguel S's updateReviewer Update
09 Apr 2025, 09:07I'm sitting at R9,000 unrealised loss. So from R4,000 to R9,000.
If I resigned today and withdraw the money I would lose all of this.
Then finally, after asking Rhett Benfield, I was informed that I could change my fund to just earn normal interest. If I had known this was an option from the day I started working I would have chosen it!!!!
But now if I change it those R9,000 losses become realised.
Absolutely ridiculous. At a minimum I should have been told about this option when I started to complain about the losses.
Do not, I repeat, do not invest with AlexForbes. They do not care about you. Only your money.
If I resigned today and withdraw the money I would lose all of this.
Then finally, after asking Rhett Benfield, I was informed that I could change my fund to just earn normal interest. If I had known this was an option from the day I started working I would have chosen it!!!!
But now if I change it those R9,000 losses become realised.
Absolutely ridiculous. At a minimum I should have been told about this option when I started to complain about the losses.
Do not, I repeat, do not invest with AlexForbes. They do not care about you. Only your money.
MS
Miguel S's update09 Apr 2025, 09:07
Reviewer Update
I'm sitting at R9,000 unrealised loss. So from R4,000 to R9,000.
If I resigned today and withdraw the money I would lose all of this.
Then finally, after asking Rhett Benfield, I was informed that I could change my fund to just earn normal interest. If I had known this was an option from the day I started working I would have chosen it!!!!
But now if I change it those R9,000 losses become realised.
Absolutely ridiculous. At a minimum I should have been told about this option when I started to complain about the losses.
Do not, I repeat, do not invest with AlexForbes. They do not care about you. Only your money.
If I resigned today and withdraw the money I would lose all of this.
Then finally, after asking Rhett Benfield, I was informed that I could change my fund to just earn normal interest. If I had known this was an option from the day I started working I would have chosen it!!!!
But now if I change it those R9,000 losses become realised.
Absolutely ridiculous. At a minimum I should have been told about this option when I started to complain about the losses.
Do not, I repeat, do not invest with AlexForbes. They do not care about you. Only your money.
Alexander Forbes Financial Services's replyOfficial
09 Apr 2025, 09:31 Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
Alexander Forbes Financial Services's reply09 Apr 2025, 09:31
Official
Dear Miguel,
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
At Alexander Forbes, our clients are important to us and I am sorry to learn that you’re dissatisfied with our service. Thank you for taking the time to bring this to our attention.
We hereby acknowledge receipt of your complaint and apologies for the inconvenience caused.
We will investigate your query and provide feedback with the contact details provided.
Kind Regards
Customer Insights and Escalation
MS
Miguel S's updateReviewer Update
09 Apr 2025, 09:53Beautiful copy and paste!
MS
Miguel S's update09 Apr 2025, 09:53
Reviewer Update
Beautiful copy and paste!