Highly disgusted and disappointed

TO OLD MUTUAL RE : COMPLAINT : POLICY NUMBERS : ***8 POLICY NUMBER : ***1 : ADVISOR IN QUESTION : SNENTLANTLA THUSI I Sinethemba Ntsangani, would like to lay a formal complaint with regards to policies issued by your company and advice given by your representative. The representative in question is in the subject line. Policy ***1, for a total premium of R12000-00 at inception ( AUGUST 2019) and now at R13200-00, was not a policy that I requested, as in a FOCUSSED investment, but requested CLEARLY that it must be a flexible investment, as it would make sense to have access to these funds as required by myself. This policy is a focused policy for 10 years. THIS IS SOMETHING THAT CLEARLY I DID NOT REQUEST. The savings for this is apparently for the purchase of a house, which I did not apply for. Policy ***8, for a total premium of R30000-00 at inception (15 MARCH 2020), was discussed by myself and the advisor in question , but not agreed upon, as i did not sign for anything as I was in the Eastern Cape. To my surprise R30000-00 went off without my consent. The advisor did advise that the premium will be reversed which was done. Thereafter I agreed to have the policy done at R30000-00 as again it was made clear that I wanted a totally flexible investment, not what is reflecting on your system, ie , as in a focused 5 year policy. I did find out from the advisor that its Lockdown and would not be a good idea to invest, however she emphatically stated Old Mutual is a BIG COMPANY and there is no ways that my capital invested will be compromised, ie, even if we lose out in the world, my money will not be affected at Old Mutual. COMPLAINTS to be ADDRESSED: 1) Misconduct of advisor, as in not following my instruction of flexible investment. 2) After consulting at the Gateway Branch, I did realise that the policies were not wriiten up on my instruction but in the best interest of the advisor. 3) My funds have drastically fallen ,ie I lost over R80000-00 in both my investments, with that in mind, I was told this could never happen with my two investments. 4) I would also appreciate, whilst you investigating, to know what commission the advisor in questioned earned. Please note, I am totally disgusted with the service provided by your advisor. I want my total premiums to be paid back to me as I did not sign up for this application. These two policies does not meet my present, short term and long term financial needs. I did request from the advisor in question , that I needed my money and she requested that I come to the gateway branch to do the disinvestment. I believe that this is not how advisors should behave towards HIGH PAYING CLIENTS as myself, that I must run around for my money, stand in long Queues, when clearly I am suppose to be a valued client of your company. This shows bad on your company as a whole. Is this what you guys practice with your advisors?????. I believe that the advisor in question has produced two polices which are not in my best interest, but in the interest of your company and your advisor. I also believe that this needs to be investigated with a sense of urgency, as I don’t want to do business with this company ever again. I have consulted with an advisor at the gateway branch, who did also inform me that these two policies not suppose to be where they are, ie max, but should have been invested in your WEALTH portfolio. I would expect feedback ASAP Many thanks _______________________________ Sinethemba Ntsangani 0****85877 / ***