MM
Muhammed M

1 reviews | Active since Jun 2011

23 Mar 2022, 14:31

***********, unprofessional service coupled with excessive and unnecessary delays

Where do I start. I opened a TFI for my daughter using the secure online portal, Old Mutual were very quick to take the funds. Once opened, I tried to register an online account for my daughter but could not do so due to already having an online account in my own name where my cellphone number was used (I know, ludicrous in this day and age). Called the call centre (twice) and was told by the consultant to "get another cellphone and sim card." Absurdly, this exact conversation happened twice. During both conversations I requested to speak to a manager. I was promised both times that a call from a manager was imminent. My last call to them was in December 2021 and to date I have not received a call from a manager.

I subsequently submitted a transfer request to transfer the TFI to a more competent asset manager. The request was submitted on 20 January 2022 and all admin would be handled by the receiving fund. Unnecessary and excessive delays by Old Mutual entailed, to the point where we have still not received the transfer certificate (23 March 2022). There have been numerous follow-ups by the receiving asset manager, all of which go ignored. Additionally, it is near impossible to actually get hold of a human consultant.

In addition, I decided to lay an online complaint on 23 February 2022 using the Old Mutual website. I received an acknowledgment email confirming they had received the complaint, but to date have not received any feedback from them.

0
Replies (2)
Old Mutual
Old Mutual's reply23 Mar 2022, 14:32
Official
Dear Muhammed 

We are sorry to hear about the service experience. We will investigate and contact you directly to assist.

Regards
Coleen Aanhuizen
Old Mutual Complaints Management
MM
Muhammed M's update24 Mar 2022, 14:33
Reviewer Update
24 hours later and I am yet to hear directly (or indirectly for that matter) from Old Mutual. Additionally, the receiving fund has STILL not received the transfer certificate which is required to finalise the transfer.

Clearly you do not care about your clients, nor about retaining clients. I would certainly not recommend you to anyone. I also need to seriously consider whether I should be transferring all of my own investments out of Old Mutual.