cC
craig C

1 reviews | Active since Dec 2016

31 Jan 2019, 13:28

I have lost R35000 over 15 months with this company

I have already posted reviews about my absolutely shocking experience and the enormous amount of money I have lost investing with Liberty over the last 15 months.

But just to clarify the magnitude of the amount of money I have lost with this company: Because the money I have invested since September 2017 has depreciated by 9% (Yes they have made zero money for me but lost 9% of my money!!!), I have decided to remove all my investments with Liberty. So the amount I have lost (on top of the 9%) is R35000 over 15 months with them including their astronomical fees they have charged me to remove my money. That is R35000 of the money I have put into Liberty over the last 15 months, which equates to R2300 a month!!! Or at least 2 months of retirement money I could have lived on during retirement.

On the previous 2 reviews I have put onto hellopeter regarding this they have not responded except to say they are investigating, and that was a week and a half ago.

I also have retirement investments with Sygnia and old mutual; both of which have not lost money over the last 15 months. Old mutual has not made any but has not lost, and Sygnia has made money for me. These policies are the same in profile to what I have with Liberty.

To say I am angry and upset is putting it mildly. Where in blue blazes does one invest money to loose R2300 a month for 15 consecutive months!!???

Through Liberty I have lost R35000 but through my future active demoting of Liberty to friends and family (and anyone else I come across who is thinking of investing with Liberty, or has money invested with Liberty), I will make sure Liberty looses millions in future potential profits they could have made on people investing with them that will now go somewhere else to invest. And I will also be taking to Facebook and Twitter to voice my disastrous experience with this company.

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Replies (1)
Liberty Group South Africa
Liberty Group South Africa's reply31 Jan 2019, 14:43
Official
Dear Mr Barsdorf,

We have received feedback on this matter and we are reviewing this . 

We should have a further update by Wednesday 06 February 2019.

Kind regards,
Sizwe Ncipha
Liberty Group Customer Relations
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