1 reviews | Active since Apr 2016

26 Jun 2018, 09:08

Old Mutual- Bunch of ***** and snakes

When I opened an investment based on advice from old mutual staff little did i know the nightmare i was heading into. First off the investment was meant to be accessible or so i was told so when i stopped premiums way back i decided to leave it until i need it. Now I am told i cant access the funds at all as it is an RA that was opened. I am sorry but I have a substantial RA and i am not willing to pay for the mistakes of a company that just wants your money but when they need to deliver actual service does not do so. DO NOT KEEP YOUR MONEY WITH OLD MUTUAL, THEY WILL **** YOU. I want my money and all of it, dont care how impossible it is.

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Replies (5)
Old Mutual
Old Mutual's reply26 Jun 2018, 15:27
Official

Thank you for taking my call and allowing us the opportunity to investigate the matter.

Kind regards

KareemahSulayman

Old Mutual Complaints Management

's update28 Jun 2018, 10:13
Reviewer Update
Up until now zero feedback from old mutual. I had to phone myself yesterday to find out what is going on and by the sounds of it they want to say i signed a document after i was given the wrong info so sorry for me. I have an adoption riding on this and old mutual could care less. Next step- ombudsman for financial services
Old Mutual
Old Mutual's reply28 Jun 2018, 12:15
Official

Thank you for your response. I refer to our conversation two days ago wherein I explained the policy was taken in 2010 and to investigate fairly we will get feedback from the intermediary who assisted you at the time. I also said that our process for investigating alleged misrepresentation claims is minimum 5 working days.

I request that you kindly allow us the opportunity to deal with the matter fairly and investigate the information at hand.

Kind regards

KareemahSulayman

Old Mutual Complaints Management

's update29 Jun 2018, 02:43
Reviewer Update
To be honest do not waste your time with this company. I recieved a half hearted email from Gawie Van Der Westhuizen, Clearwater Area Manager. Not only did he not have the guts to pick up the phone and call me he sent a standard letter saying old mutual covered their asses cause you signed this and that document so feel free to take it further. Not only does this highlight the lack of compassion and sympathy from this company it shows the type of managers put in charge to run their areas. Old mutual has let me down big time, no matter what document i signed over 8 years ago there was still a verbal conversation that took place, a conversation where i was told i could access my money when i need it and i need it now to pay for the adoption of our little girl...and old mutual simply folds their arms and hides behind emails and says move along to the ombudsman, we dont care. I want to close and move my RA that i did not ask for. I also will be closing my family funeral plan and my investment. My partner will be requesting the closure of his money account and all other policies and investments with Old mutual. I would rather take my business to a company that cares about the wellbeing of their customers.
Old Mutual
Old Mutual's reply02 Jul 2018, 17:22
Official

Congratulations on your baby girl adoption, I'm sure that both your partner and yourself are very excited about the new addition to your family.

Written records are vital to the sales process and is signed by both parties, intermediary and customer, when the sales discussion takes place. The records reflect that you were aware that you purchased a retirement plan and therefore we are unable to legally allow you to access your retirement funds before the retirement age of 55. Our email response provides the recourse you need to take the matter further, should you wish to do so.

Kind regards

KareemahSulayman

Old Mutual Complaints Management