HH
Herman H
1 reviews | Active since Jun 2014
15 Jul 2020, 15:47
Financial advisors and Fund managers
The advisor failed to fully explain all the t & c's pitfalls in pitch.. I lost 6%+ in my first year 2015 whilest trusting my advisor. A living annuity pays the fund managers and financial advisors for the entire life of the policy in spite of the fact that I have already paid all costs and commissions to whomever 'managed' my portfolio during my savings period of 35 years. This was for all who was involved at different times. The industry prescribe the terms and costs and become very wealthy with our money. Government should determine that LA's should be exempted from further fund managers and advisors' costs on LA's that the saving period extends beyond 25 years.
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Replies (3)0
Replies (3)
PSG Wealth's replyOfficial
15 Jul 2020, 15:56Good afternoon Herman.
We apologise for the poor experience that you have had and will request that a representative contacts you about your complaint.
Regards,
PSG Wealth
We apologise for the poor experience that you have had and will request that a representative contacts you about your complaint.
Regards,
PSG Wealth
PSG Wealth's reply15 Jul 2020, 15:56
Official
Good afternoon Herman.
We apologise for the poor experience that you have had and will request that a representative contacts you about your complaint.
Regards,
PSG Wealth
We apologise for the poor experience that you have had and will request that a representative contacts you about your complaint.
Regards,
PSG Wealth
PSG Wealth's replyOfficial
16 Jul 2020, 09:34Good morning Herman.
We have contacted our client services team and they have asked if you could provide the following details for us to follow up on your complaint:
- ID number
- Investment number
- Name of adviser
Regards,
PSG Wealth
We have contacted our client services team and they have asked if you could provide the following details for us to follow up on your complaint:
- ID number
- Investment number
- Name of adviser
Regards,
PSG Wealth
PSG Wealth's reply16 Jul 2020, 09:34
Official
Good morning Herman.
We have contacted our client services team and they have asked if you could provide the following details for us to follow up on your complaint:
- ID number
- Investment number
- Name of adviser
Regards,
PSG Wealth
We have contacted our client services team and they have asked if you could provide the following details for us to follow up on your complaint:
- ID number
- Investment number
- Name of adviser
Regards,
PSG Wealth
PSG Wealth's replyOfficial
17 Jul 2020, 13:40Good day Mr Holtzhausen Thank you for contact us. Our client service team has looked into your query regarding investment performance and fees. We spoke to your previous adviser, Dirk Van Antwerpen, and he explained that given the personal circumstances you relayed to him when taking out your policy, it was agreed that you would pay a discounted adviser fee. However, that adviser fee is no longer charged on your policy since your instruction to Old Mutual and Sanlam to remove it a few years ago. The only fees you are currently paying are the platform and fund manager fees charged by Sanlam and Old Mutual. It is industry standard for fund managers and advisers to charge a fee for their work but if you would like these fees reviewed or negotiated, you will need to contact Old Mutual and Sanlam directly. As PSG Wealth we understand the pressure of fees on investors, especially during this time, and we work to offer cost-effective investments to our clients. One of our consultants will also call you later today to ensure you have no further queries about this matter. We hope we were able to provide clarity on this issue.
Regards,
PSG Wealth
Regards,
PSG Wealth
PSG Wealth's reply17 Jul 2020, 13:40
Official
Good day Mr Holtzhausen Thank you for contact us. Our client service team has looked into your query regarding investment performance and fees. We spoke to your previous adviser, Dirk Van Antwerpen, and he explained that given the personal circumstances you relayed to him when taking out your policy, it was agreed that you would pay a discounted adviser fee. However, that adviser fee is no longer charged on your policy since your instruction to Old Mutual and Sanlam to remove it a few years ago. The only fees you are currently paying are the platform and fund manager fees charged by Sanlam and Old Mutual. It is industry standard for fund managers and advisers to charge a fee for their work but if you would like these fees reviewed or negotiated, you will need to contact Old Mutual and Sanlam directly. As PSG Wealth we understand the pressure of fees on investors, especially during this time, and we work to offer cost-effective investments to our clients. One of our consultants will also call you later today to ensure you have no further queries about this matter. We hope we were able to provide clarity on this issue.
Regards,
PSG Wealth
Regards,
PSG Wealth