1 reviews | Active since Jan 2014
Momentum takes more than 3 months to disinvest funds and admit there is no reason noted why the process has not yet been started.
I have requested on 25 June 2018 to move my RA to Allan Gray. Allan Grey's service has been suburb. However, Momentum has too this date not yet started the process to disinvest the funds despite numerous follow ups with them. They even advise Allan Grey that there is no reason noted why the process has not yet been started. I think they are deliberately stalling the process seeing that they lost me as a client and just could not be bothered by providing good service. I will never advise anyone to invest their money with Momentum. The service and performance is shockingly bad. What has happened with my funds since they receive the instruction to move the money to Allan Grey to date. Has there been any grow on the funds in this in between stage at all (more than 3 months later?)
We appreciate you raising your concerns with us. They are indeed very disappointing and we certainly letting you down. We will investigate and I can assure you that a manager will contact you.
Kind regards,
N D'Arch
We appreciate you raising your concerns with us. They are indeed very disappointing and we certainly letting you down. We will investigate and I can assure you that a manager will contact you.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
Please accept our apology for the delay experienced to finalize this transfer. I understand from our call centre that due to a 'phasing-in" transaction that was busy executing on your policy, that we were not in a position to disinvest the policy until that transaction had finalized.
Our agent confirmed that the disinvestment of the policy was loaded today - as unit trust pricing is historical, the lump sum will only be available on Friday (12/10/2018).
Thereafter we need to apply for a tax directive before the funds can be paid to Allan Gray. We have also picked up that Allan Gray did not provide their banking details when the signed form H was returned to Momentum. While the disinvestment is in progress, we have sent an email to Allan Gray requesting these details - we hope that we will have received their response by the time that the directive is receive (approximately on Monday 15/10/2018).
I will keep an eye on the transaction an provide you with further feedback on the progress.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
Please accept our apology for the delay experienced to finalize this transfer. I understand from our call centre that due to a 'phasing-in" transaction that was busy executing on your policy, that we were not in a position to disinvest the policy until that transaction had finalized.
Our agent confirmed that the disinvestment of the policy was loaded today - as unit trust pricing is historical, the lump sum will only be available on Friday (12/10/2018).
Thereafter we need to apply for a tax directive before the funds can be paid to Allan Gray. We have also picked up that Allan Gray did not provide their banking details when the signed form H was returned to Momentum. While the disinvestment is in progress, we have sent an email to Allan Gray requesting these details - we hope that we will have received their response by the time that the directive is receive (approximately on Monday 15/10/2018).
I will keep an eye on the transaction an provide you with further feedback on the progress.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
Payment has been made to Allan Gray via a immediate payment this morning. The funds should reflect in Allan Gray's bank account within the next hour or two. Our service agent still needs to issue the Form J - this will be done during the course of the day.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
Payment has been made to Allan Gray via a immediate payment this morning. The funds should reflect in Allan Gray's bank account within the next hour or two. Our service agent still needs to issue the Form J - this will be done during the course of the day.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
We have emailed the form J to Allan Gray this morning. The form J was the final requirement in the transfer process.
I hope that the matter has been resolved to your satisfaction.
Kind regards,
N D'Arch
Dear Ms van Niekerk,
We have emailed the form J to Allan Gray this morning. The form J was the final requirement in the transfer process.
I hope that the matter has been resolved to your satisfaction.
Kind regards,
N D'Arch