1 reviews | Active since Dec 2022
Shocking Service at Momentum Investo.
Shocking service at Momemtum Investo. My pension was place with them in 2005. Taking a monthly income, firstly at the minimum and later changed to maximum in terms of the low income. I contacted Momentum in 2018, complained about no communication at the time, absolutely no advice from the broker in charge of my portfolio as they should surely advised me to re invest the little of my money that was left to secure a better income. In the end I reported the situation to the Ombudsman. Where after they communicated from time to time, tired about it all, I rested my case. Halfway through 2022 I received 50% less on my income. I didn't receive any explanation, sadly I thought because markets dropped in terms of the COVID aftermath and performance of my capital allowed only a small income, but contacted them again to find out why. They advised that they had to pay over my SARS on a monthly basis. This was a surprise as it wasn't done like that before..... And I accepted that they have to do their job. I then requested a payout so I can invest the little bit of money that was left, myself! As the balance was then below regulations of legislation when I had the case referred to the Ombudsman in 2018, which was the last information I had about it. Just to find out that Legislation changed since then, which meant that I could have taken the money out LONG AGO. Again, no advise, no letters to inform me.....they traded with the little that was left, definitely not be to my benefit. I signed cancellation of this Investment on 25 November 2022, send all my documents as requested, including a valid Tax Directive, and up to today, 28 emails and telephone calls in between, no payment. They promise a 5 to 10 day period. and we are 34 days later!!! They just get rid of me by sending an email to confirm receipt and that they are working on it, waiting for the Trader.............. I could have at least had my money Invested by now at another company with some advantage to me.
Kind regards
NH
Kind regards
NH
