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Alencia R

1 reviews | Active since May 2024

24 May 2024, 04:55

Unhappy client claiming interest for 5 years on capital kept in company holding account

My name is Alencia, i have a retirement annuity with Old Mutual of which is a small amount and the reason for that is due to the fact that i was misleaded when i was dealing with a financial advisor in 2011, but this is not the issue here. The main reason why I'm writing this rewiev is that i checked my portfolio with old mutual and notice that this specific contract ***0 was not reflecting on my portfolio. The following day, 28th of March 2024 i called Old Mutual customer service and spoke to a lady by the name of Nikita Kellingson who told me to hold on and she came back after 15 minutes and told me that my money is no longer on a retirement annuity and in that there was an instruction given by my financial advisor in February 2019, but the incorrect forms were signed and that the same thing happened in March 2019, but they still went ahead and that my money was de-invested and paid to Old Mutual holding account. I told her that no one ever communicated with me and this was the first time i hear about this. She than told me that she will email the correct forms to me in that i must complete it and email same to her as 2/3 will be paid out in cash and for the 1/3 i must indicate which income account it must be added to of which i did by personally visiting their Cresta branch on the 28th of March 2024. I spoke to a financial advisor a gentleman who completed the bottom section and e-mailed the forms back to the business email address with the instruction for attention Nikita Kellingson. Since than i have been given the run around and was now told the incorrect information was given by the customer service consultant as they can only payout 1/3 in cash and 2/3 to be added to an income account. Everytime i called in i got to speak to a different person. I calked in again and this time i spoke to Amanda Maseti who told me that i need to sign new forms although i have already done this. I went back to Old Mutual Cresta and spoke to the same financial advisor who called the customer service department and he was told that i must just send a email with the instruction. I told him that i not happy ad i was told ti compkete the forms with the instruction i insisted that he take the forms, but he refused and said i must just send a email with the instruction as that is what the customer service consultant told him, which i did anyway. On calling the customer services again i was told that i needed to complete forms with the instruction for the 2/3 by now i was furious. I am almost 62 years old and have been given the run around by a bundle of *********** staff. Why can't they just pay my money with my accumalated interest for the past five years as it is no longer in a retirement annuity and are kept in their bank holding account not bearing any interest. I did send a complaint to their complaints department and only got a response in that they waiting for 2/3 new business, which i responded that it is not new business that the money must be paid to an existing income account. I always thought Old Mutual cares fir their customers, untill i experience this. I am not happy with them.

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