OLD MUTUAL OPENED A RETIREMENT PLAN WITHOUT MY CONSENT

I am writing this review to warn other parents and savers about my deeply frustrating and financially damaging experience with Old Mutual. My initial interaction in February 2016 was excellent. I went to open a savings account for my child's tertiary education, and the process was smooth, professional, and transparent. I signed a Record of Advice (ROA) for that specific product, which was exactly what I wanted. However, just four months later, on June 21, 2016, I returned to the same branch to open a savings plan. Tragically, the consultant I dealt with completely disregarded my instructions. Without my knowledge or consent, she processed a retirement plan for me.The proof of this error is in their own documentation: I did not sign the Record of Advice for the retirement plan.only signed for the education savings plan months prior. I did not realize this devastating mistake until years later when I needed to access my funds for their intended purpose-my child's education. I was then informed that my money was locked away in a retirement annuity, with severe penalties for early withdrawal. When I tried to resolve this, providing clear evidence that I never signed for or wanted this product, Old Mutual has done nothing but take me "up and down." They have failed to take responsibility for their consultant's actions and have left me in a terrible financial position.This is not a simple administrative error; this is a serious case of mis-selling. A financial services company has a fundamental duty to provide the product the client asks for. Old Mutual failed in this most basic duty. Do not trust them with your specific financial goals. My advice is to get everything in writing, double-check every document before you leave the branch, and be aware that what you ask for may not be what you receive.