RA
Rhona A
1 reviews | Active since May 2016
06 Aug 2019, 11:24
RA'S NOT A GOOD INVESTMENT WITH MOMENTUM
Further to my last scathing review on Momentum, I have to say that I received a promt reply and solution to my issue. A special thanks to Hitesh Jogibhai for working on relentlesly to get my RA sorted. The most disappointing part of having an RA with Momentum is that they simply do not care about your money. In the approximate 10 years that I had this RA all I had to show for it was a measly R60 000.00. Definately not enough to retire on. Thanks for nothing Momentum. At least I can now look at more positive ways to invest for my retirement.
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Replies (2)
Momentum (SA)'s replyOfficial
06 Aug 2019, 12:00I am glad that Hitesh could resolve your previous concerns to your satisfaction.
I am however truly sorry that the growth obtained in your Retirement Annuity did not meet your expectations.
It needs to be noted that the growth is directly linked to the performance of the fund/s into which your regular contributions are invested , as well as the amount of your regular contribution. Annual statements are issued and these keep you updated on the current values, including the early retirement value.
Any alterations, including the cancellation of regular contributions, would negatively influence the value of your contract, as described in the original investment contract as well as the the endor*****t issued after an alteration is processed.
I am however truly sorry that the growth obtained in your Retirement Annuity did not meet your expectations.
It needs to be noted that the growth is directly linked to the performance of the fund/s into which your regular contributions are invested , as well as the amount of your regular contribution. Annual statements are issued and these keep you updated on the current values, including the early retirement value.
Any alterations, including the cancellation of regular contributions, would negatively influence the value of your contract, as described in the original investment contract as well as the the endor*****t issued after an alteration is processed.
Should the growth obtained in the originally selected fund/s not meet your expectations, you had the opportunity to switch to other funds, of which a multitude is available to Momentum Investo contracts. Updated fund factsheets are available on our website, for easy access. Fund switches are noted in the original investment contract, which were issued at inception.
It is therefor important to obtain advice from a financial adviser throughout the term of your investment in order to maximize the growth potential.
Kind regards
CK
Momentum (SA)'s reply06 Aug 2019, 12:00
Official
I am glad that Hitesh could resolve your previous concerns to your satisfaction.
I am however truly sorry that the growth obtained in your Retirement Annuity did not meet your expectations.
It needs to be noted that the growth is directly linked to the performance of the fund/s into which your regular contributions are invested , as well as the amount of your regular contribution. Annual statements are issued and these keep you updated on the current values, including the early retirement value.
Any alterations, including the cancellation of regular contributions, would negatively influence the value of your contract, as described in the original investment contract as well as the the endor*****t issued after an alteration is processed.
I am however truly sorry that the growth obtained in your Retirement Annuity did not meet your expectations.
It needs to be noted that the growth is directly linked to the performance of the fund/s into which your regular contributions are invested , as well as the amount of your regular contribution. Annual statements are issued and these keep you updated on the current values, including the early retirement value.
Any alterations, including the cancellation of regular contributions, would negatively influence the value of your contract, as described in the original investment contract as well as the the endor*****t issued after an alteration is processed.
Should the growth obtained in the originally selected fund/s not meet your expectations, you had the opportunity to switch to other funds, of which a multitude is available to Momentum Investo contracts. Updated fund factsheets are available on our website, for easy access. Fund switches are noted in the original investment contract, which were issued at inception.
It is therefor important to obtain advice from a financial adviser throughout the term of your investment in order to maximize the growth potential.
Kind regards
CK
RA
Rhona A's updateReviewer Update
06 Aug 2019, 12:40Thank you for your reply. I have to say that Old Mutual showed more interest in advising me on my funds and investments. Not once did anyone from Momentum offer to assist.
Therefore I have decided to invest my funds with Old Mutual who are willing to spend time advisng me. It is all good and well if you send this information, which I did not get. All I ever got was I tax certificate from you once a year. Perhaps an learning curve for you and for me to move on to better institutions.
Therefore I have decided to invest my funds with Old Mutual who are willing to spend time advisng me. It is all good and well if you send this information, which I did not get. All I ever got was I tax certificate from you once a year. Perhaps an learning curve for you and for me to move on to better institutions.
RA
Rhona A's update06 Aug 2019, 12:40
Reviewer Update
Thank you for your reply. I have to say that Old Mutual showed more interest in advising me on my funds and investments. Not once did anyone from Momentum offer to assist.
Therefore I have decided to invest my funds with Old Mutual who are willing to spend time advisng me. It is all good and well if you send this information, which I did not get. All I ever got was I tax certificate from you once a year. Perhaps an learning curve for you and for me to move on to better institutions.
Therefore I have decided to invest my funds with Old Mutual who are willing to spend time advisng me. It is all good and well if you send this information, which I did not get. All I ever got was I tax certificate from you once a year. Perhaps an learning curve for you and for me to move on to better institutions.