VV
Vernon V

1 reviews | Active since Jan 2015

29 Sept 2016, 15:18

Discovery Invest worse than poor growth performance

<p>I invested for my retirement by Discovery Invest Starting 2011. Thought I'd have a quick look to see how its performing. Just to find that after subtracting the accumulated Fee Payback that my fund for my retirement has in 5 Years only grown by R259.18 yes that is what I have to show from the company whom I have trusted with my retirement moneys.</p> <p> </p> <p>This is the second time I have pointed poor growth out the first taking more than 2 months to resolve. So where has the money gone? and the best is that we plan on immigrating early next year just to see how many people have experience poor payment times from Discovery Invest.</p> <p>I have now informed my bank to block all debits for Discovery Invest as I can do better than what they can offer by just going to my local bank.</p> <p> </p> <p>Poor performance, poor service and I hope that if someone reads this they will not make the mistake of investing by Discovery</p>

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Replies (1)
Discovery Invest
Discovery Invest's reply03 Oct 2016, 14:48
Official

Thank you for your comment.

I have sent you an email which gives you the details of your policy and the difference in the monetory growth vs the percentage growth. It's important to consider these differences when making a monthly contribution to your policy vs investing a lump sum.

In addition I have explained that the Fee PayBack is not included in your investment balance which means that you should not deduct this from your funds.

I hope that my information has helped you; however please don't hesitate to let me know if you need anything further.

Best regards

Rene