1 reviews | Active since Mar 2022
Old mutual unit trust
I came to the knowledge that my father has a unit trust account with old mutual (client number ***). I then notified old mutual that my father passed away 26 years ago when i was 13 years old at that time. I instructed old mutual to close the unit trust account due to the fact that my father no longer has financial interest in the product. I emailed supporting documents such as death certificate, my ID copy, affidavit and a portfolio statement of the unit trust requesting that they stop the unit trust with immediate effect as my father's next of Kin. this was on the 1st of March 2022, a customer service consultant by the name of Ebrahim Gibbons then sent a reply saying I need to send a LOA for a 26 years ago death event and a bank statement of the late estate that is no older than 3 months inspite my father having passed away 26 years ago, which i find very stupid and legally ******* not to mention humanly impossible. then when i asked ebrahim about this he sent my query back in the queue and a new reference number was created and another agent by the name of happiness tom then sent me an email saying i need a letter of exercutorship inspite of the fact that my father's unit trust value is under R12 000 and it's a 26 year matter it's been over a week now of this back and forth and the worst part about it is come end of the month old mutual will be enriched further unjustly from the fees that will come from the deceased unit trust account even after they have received official documents from me the son of my father the person that looks after all my father's belongings that the client is no more. all I want is for the funds to be transfered to the account i provided them with which is my account as my father's next of kin. but if i said i want to reinvest in their product under my name oh they would've jumped at the opportunity, this matter needs to be dealt with by a senior individual who is allowed to use discretion not some junior agents who probably haven't even written and passed their RE because old mutual is turning this into a classic case of unjust enrichment as set out in the financial regulatory code of conduct. this is my father's money i'm not borrowing this money, i'm not asking for a loan or even claiming for a life cover this a UNIT TRUST MY FATHER'S MONEY NOT YOURS OLD MUTUAL, what kind of ******* business are these guys running making money from a deceased person sies maan this is appauling best and disgusting at worse.
I am sorry to hear of the service you experienced and the emotion this must be causing after the loss of your Dad so long ago. I will investigate and provide you with feedback.
Kind regards
Thabiet Mintin
Old Mutual Customer Complaints
I am sorry to hear of the service you experienced and the emotion this must be causing after the loss of your Dad so long ago. I will investigate and provide you with feedback.
Kind regards
Thabiet Mintin
Old Mutual Customer Complaints
