MT
Marcia T

1 reviews | Active since Jul 2023

11 Apr 2025, 10:01

Old Mutual is the WORST COMPANY I have dealt with to date! Your money invested will be ''Lost'' to all working on your portfolio.

Unfortunately, I have yo choose a star and a no star would suffice the exceptionally bad service I am receiving from Old Mutual. I started the transfer of my preservation fund from Stanlib to Old Mutual on the 5th September 2024. Stanlib has sent the confirmation to myself as well as Old Mutual, that the monies were paid to Old Mutual on 21st January 2025. To date!! Old Mutual has not been able to confirm with me that they have received the monies, even though the Proof of Deposit was submitted. I have received radio silence from Old Mutual, and the broker with whom I am dealing with is unable to give me any answers to this, as he claims he is struggling with internal policies as well. Now, I am losing out on the growth value of my investment since January 2025. I have to continuously call in to the broker asking for feedback, because if I do not, that money will sit in Limbo for years to come as nobody is interested in assisting the very masses who keeps their business afloat. OLD MUTUAL IS SHOCKING!!!! I hope this review will help many people out there who is considering using Old Mutual to trust an invest in. DO NOT DO INVEST WITH OLD MUTUAL!!!!!

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Replies (5)
Old Mutual
Old Mutual's reply11 Apr 2025, 10:34
Official
Good day Marcia,

We acknowledge receipt of your review and sincerely apologise for the service experience you encountered. We are committed to investigating this matter thoroughly and will make direct contact with you should further information be required.

Kind regards
Old Mutual Complaints Management
MT
Marcia T's update11 Apr 2025, 11:03
Reviewer Update
I await with bated breath!!!! :(
Old Mutual
Old Mutual's reply11 Apr 2025, 11:34
Official
Thank you for your patience.
MT
Marcia T's update15 Apr 2025, 12:04
Reviewer Update
OMG!!! I am still waiting on someone of OLD MUTUAL to MAKE CONTACT with me? The broker Rithar Daniels, has confirmed with me that he has no idea where the Investment is in the process, and this after supplying the proof of monies deposited into the OLD MUTUAL BANK ACCOUNT!!! I need to understand why OLD MUTUAL does not give s flying toss as to service?????? Not one phone call from them. I am at my wits end. Could someone out in SA please help me with a person or number or what I am able to do to take this further? This is my pension they are messing with and I am close to retiring!!!
Old Mutual
Old Mutual's reply15 Apr 2025, 13:14
Official
Hi Marcia,

We sincerely apologise for the delay and the frustrations caused. This matter has been re-escalated and the relevant team will be in contact with you.

Kind regards
Old Mutual Complaints Management