MP
Martinn P

1 reviews | Active since Aug 2019

26 Aug 2019, 17:21

Allan grey changed bank details without consent.

Hi, I have had an investment for my daughter since she was little. When she turned 18 they removed my guardian access, I could live with that, she subsequently gave me power of attorney. They then also removed the Bank account details from the profile. Doing this without consent or informing either myself or my daughter. I would see that as *****. Changing bank details without consent. In their defence they did send a mail to the email address that was probably added more than a decade ago. They have confirmed that they did receive an email renewal request before all of this happened (Feb 2018). Her account is still linked to my profile which Zahir from AllanGray could also not explain. our conversation poked so many holes in their system that I don’t feel warm and fussy about AllanGray's account system. One last thing. They recommend you selling the profile and then putting it into your name before your kid turns 18. Imagine the costs involved. Defies the point of having a profile in your kids name.

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Replies (1)
Allan Gray
Allan Gray's reply27 Aug 2019, 15:00
Official
Dear Martinn P  Thank you for raising your concerns around your experience during the “Age of Majority” process on your daughter’s investment.  Please accept our sincere apology for the poor client service that you have experienced. Further to our conversation, we are grateful for the opportunity to rectify the matter and would like to assure you that we will address these service failures with all parties concerned.  We will continue to liase with you regarding the corrective measures we have taken.  Kind regards  Aviwe Ndlwana | Client Relationship Manager