RA Botch Up

<p>I took a RA with OM about 25years ago, made monthly contributions and increased my premiums annually. All that time I rarely received a communictaion from OM and the advisor (aka leech) at the time skimmed my savings and eventually retired himself after living off the backs of others. I was therefore catagorised as an 'orphan' by OM, which now takes on new meaning. When I decided to change a beneficiary of my fortune I logged into the dysfunctinal 'My Portfolio' and noticed that my RA had moved into a Fund that I had not approved and that my premiums were cut to a quarter of what OM had been debiting me. When I enquired I was told that the particular Max Fund that OM had selected on my behalf was now 'dead' and had not been performing for years, hence my measly RA total on the statment. And that there were no other options but to cash out, pay huge tax fees and then start from scrach with a new RA. My reaction, as of today and over the past 6 months of finding out this news is one of dissappointment and shock. Since then I have been trying to change the Fund, placed on hold, promised that someone would get back to me and in return nothing from OM. I do get the occassional cold-call from Advisors looking fof blood who then promise to 'sort' out my problem and then never call back.</p> <p> </p> <p>So I'm here to warn anyone about to take an RA or who has one to stay the hell away from OM. This company ****** me of a retirement, and in opinion ****med me of over a million rand...and there is nothing that I can do about it. I've tried.</p>