1 reviews | Active since Sept 2016

27 Jun 2018, 14:57

Old Mutual's *********** and hostile client support desk

Financial institutions protect themselves from their clients through the use of customer support centres or help desks. These are effective firewalls that block clients from disturbing the peaceful slumber of management. Service centre staff is not empowered to make decisions, they are usually apathetic and cannot exercise any discretion. The strategy is that the client finally gives up in exasperation. I deal with various financial institutions such as Old Mutual, Sanlam Glacier, Alexander Forbes, Allan Gray, banks, etc. Old Mutual is the worst, in my experience (Allan Gray by far the best). I tried to get information from Old Mutual customer support desk on who to contact and the procedure to follow to lodge a complaint. I explained that the complaint is against the customer support desk of Link Investor Services, who administers Old Mutual’s share portfolio, but that I didn’t want to divulge the details of my complaint unless I knew that I was dealing with somebody independent of and senior to the customer support desk. Old Mutual’s Donovan Dreyer refused to help me, unless I would be prepared to divulge personal information to him first. I see this as their rigid recipe to trivialise the client’s concerns, whilst keeping the client captive in the unhelpful circles of the customer support staff. When I told Dreyer that he forces me to take my complaint outside Old Mutual and into the public domain, he wished me luck!

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Replies (3)
Old Mutual
Old Mutual's reply27 Jun 2018, 16:19
Official

Dear John

Thank you for bringing the matter to our attention.

We apologise for the poor service experience and we are investigating the matter.

I will contract you in due course to provide you with feedback.

Regards

Vuyani Ntantiso

Complaints Management

's update29 Jun 2018, 05:12
Reviewer Update
I have decided not to proceed with this complaint via Old Mutual's complaints management process. I shall air my complaint in detail via public media, instead. I came to this conclusion when I investigated this forum (Hello Peter) and discovered that it is a futile exercise. All that happens is the customary apology, but clients complain repeatedly about the same problems - no improvements. It will be best to inform the public, so they can watch out for themselves, or switch their investments to a more reputable institution.
Old Mutual
Old Mutual's reply29 Jun 2018, 10:14
Official

Dear Mr Baxter

As per my email dated 28 June sent to you, we realise your unhappiness and hope that you would reconsider and allow us to assist.

Should you however change your mind, please contact me directly as indicated in my email.

Regards

Vuyani