SV
Steven V

1 reviews | Active since Dec 2013

06 May 2024, 14:01

Quick to take and slow to pay?

On 21 February 2024 the executor (an admitted attorney) of my fathers estate submitted documents to Glacier to convert the proceeds of his investments with them to cash and deposit these into the estate's late account. All necessary documents were attached. On the 15th April (now nearly 2 MONTHS LATER!!!) the executor had to follow up again. This included prior phone calls and the threat of reporting Glacier to the masters office for lack of progress. On the 17th April I then followed up with my fathers financial advisor to see if he could liaise with his contacts to see where the problem lay. I was advised that because of increased ***** attempts, Glacier had to be more methodical and thorough in dealing with all claims. I find that hard to believe as I worked in the financial sector for nearly 3 decades and process documents are not just random, but drawn up by the department concerned and vetted by the risk/compliance departments or committees. If a weakness is found, the process is tweaked to ensure security. The impact these processes have on client service also need to be factored in. On the 18th April, Glacier advised they will follow up with the claims department and will revert as soon as possible. On the 24th April the executor had to phone Glacier to ascertain the current position Then on the 29th April was advised they are in the "final stages" and awaiting confirmation to process the payment from the relevant committee.

Today is the 6 May, some 75 days !!!!!! since the initial request was submitted and the funds have still not been deposited.

The appalling manner in which this has been dealt with leaves me questioning if the name Glacier represents a magnificent structure towering above its surroundings OR the pace at which they attempt to deliver any sort of client service?

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Replies (1)
Glacier by Sanlam
Glacier by Sanlam's reply06 May 2024, 15:11
Official
 Dear Steven,

We acknowledge receipt of your complaint and will be in contact with you soon.  Thank you for bringing the matter to our attention. 

Kind regards
Glacier Client Relations