TN
Theressa N

1 reviews | Active since Jun 2021

08 Jun 2021, 18:19

Old Mutual has a ******* financial consultant

I came to Old Mutual with the intention of investing the money with a very specific plan. When I arrived at Old Mutual I met with a staffer and we had a meeting. The meeting was recorded (Rather I was told it was being recorded) and at the meeting was regarding how I wanted my money to be handled. During that consultation I was very clear that because I was coming out of property. In property roughly a month I was receiving a amount that I was happy with per month from that investment. I sold the property and made an investment with old Mutual. I went to Old Mutual and explained that I was leaving property and I wanted to invest the money and mentioned that I wanted roughly a similar return to my property in a month from the investment if I was to invest. He mentioned that if invest for 5 years I would receive back between an amount that i was happy with. The condition was that the money must be invested for 5 years. To my surprise in 2020 he sent letter saying that I can take out my money and I would receive my initial payment with an amount that I was not aware of which wasn't what we agreed. Now that the money has matured I want the initial proposed amount. My agreement with your employees was that after 5 years I would get that money. This was a fixed amount / agreement that had a five year condition not something related to market fluctuations. That was not our agreement and I am being ****med. I would have never made the investment if I was aware of that. I've made investment before with old mutual that I've been extremely happy with however this investment is a massive ****

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Replies (1)
Old Mutual
Old Mutual's reply08 Jun 2021, 18:36
Official
Dear Theressa N

Thank you for the review.

We apologise for the inconvenience caused. We will investigate and resolve with you directly.

Regards
Thabiet Mintin
Old Mutual Complaints Management