hK
habib K

1 reviews | Active since Mar 2009

29 Jun 2015, 14:39

Old Mutual Cheating Clients

I have been a loyal customer of OLD Mutual for over 20 years and i have many products with them.<br> <br> As i have been looking at costs and performance of various companies, I recently called the call centre to request the performance facts and fees on my retirement annuity so that i could <br> compare.<br> I was advised that they dont have the performance sheets and that i must work it out based values received. <br> I then asked if i could get the costs and once again i was advised that they dont have that but they will email me the last 6 month statements and that i must work it<br> out.<br> what nonesense is this. In this day and age with all the laws associated with FEES, how is Old mutual getting away with this.<br> <br> I then advised them that i would like to transfer this to another company and i was told i would receive an email indicating the cost of this.<br> I was shocked to hear there were costs involved as none of the other companies like Allan Gray , 10X etc charge for transferring.<br> 3 days after my request i received an email from them with the costs. What a joke, they want to charge me about 18% of the value to <br> move the money. They are basically forcing clients to stay with them. In the em

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Replies (1)
Old Mutual
Old Mutual's reply29 Jun 2015, 14:45
Official
Hello tcam,

Thank you for bringing this to our attention. I am investigating this and will be in contact with you.

Regards
Thabiet Mintin
Complaints Management

Best regards,