Momentum - Advisor negligence caused us estate costs and they ignore FAIS complaint

Momentum - Advisor negligence caused us estate costs & they ignore FAIS complaint

I am extremely disappointed in Momentum's handling of my late mother's policy.

My mother passed away 10 April 2026, after paying monthly premiums AND monthly advice fees to Momentum's appointed advisor Mr *** for years to make sure her affairs were in order. She had even signed a beneficiary nomination form at her former employer, clearly showing her intention of who should receive the benefit.

When we claimed, Momentum told us "no beneficiary on our system" so money must go to the estate. That means we must now pay a lawyer thousands to appoint an Executor and get a Letter of Executorship from the Master of the High Court - costs we would never have had if the advisor had done his job and captured the nomination.

I lodged a formal FAIS complaint about ADVISOR NEGLIGENCE, not about what is on the system. I asked two simple things: 1. Will Momentum cover the executor costs caused by their advisor's failure? 2. Can I get a copy of the advice record and needs analysis done by Mr ***x?

Momentum is completely ignoring the actual complaint. They only reply about estate payment and refuse to address the FAIS negligence part. This is non-compliance with FAIS complaints handling rules which require a final response within 6 weeks.

My mother trusted Momentum. We are grieving and now being forced to pay extra legal costs because of their advisor's failure to capture a simple form. While momentum paid nothing towards our mother's funeral. And when we complain, we are ignored.

I want Momentum to: - Address the advisor negligence complaint properly - Provide the advice record - Reimburse the executor costs that were caused by their advisor

Policy number: I can provide