AL
Annie L

1 reviews | Active since Mar 2021

21 Mar 2021, 12:24

Terrible service from Old Mutual.

I have experienced terrible customer service from Old mutual. I am trying to retire 4 separate RAs that I have/had with Old Mutual and to transfer the proceeds to another financial service provider. The whole laborious process started 6months ago in middle September 2020 and to date has not been completed. The result is that part of the proceeds now sit with the other institution but they cannot complete processing my Living Annuity until they have received all the funds so I am not getting the benefit of higher returns. I have written numerous emails which are often not even rep**** to (except for an automated response), and have found that phone calls are mostly useless in that one gets bogged down in the call center and if you persevere long enough you are mostly not able to speak to the person that might deal with your problem even if you are lucky enough to have a name as reference. Certain documents have been re-requested from me months after they had been submitted before. I have emailed directly to *** but received no reply. A major part of the problem at OM appears to be a seeming complete lack of co-ordination/ communication between sections or even between individuals within their own sections. Two of the RAs are at OM Wealth and two are at OM Max Investments(unit trust based) but even within each section each of the claims/transactions are handled by different individuals. The irony is that one of the funds was finalized within weeks which gives an indication of what is possible. Initially I was reluctant to move my business from Old mutual as I have been a client for years but after this I am eager to finalize my dealings with them and vow never to return. I will not recommend Old Mutual to anyone. A.J.

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Replies (1)
Old Mutual
Old Mutual's reply21 Mar 2021, 20:41
Official
Dear Annie L

We are sorry to hear about your service experience. We will investigate and contact you directly to resolve. 

Regards 
Complaints Management