Sanlam, STBF, BENEFICIARY FUND

Being such a large institution, the service that you get is appalling. Firstly, I've tried calling for 3 weeks and after holding the line for just over 2 minutes the call cuts , every single time and I'm sick of it. You cannot send an email to STBF, because it doesnt get read. You call through after a month and your mail is still in your inbox unread and then the call center agents start scramming to get your matter escalated. This is an institution that has invested my late husbands money. Money that belongs to my children, but STBF behaves as if they are doing us a favour. No, we are doing you a favour, because without our money you wont make money. My issue is that my daughter turns 18 and she is entitled to withdraw her money. In order to even get a withdrawal form I had to call several different departments in Sanlam just to get help. Now I'm told that there is a 30 working day notice to get your money. My point is: When the money was invested STBF was,well aware that the money was only invested until my daughter turns 18. So why should my daughter wait 30 working days after application to collect her money. It was the duty of Sanlam to contact my daughter, to inform her that she has a right to withdraw her money or leave it there. STBF DOES NOT have the right to reinvest that money beyond the day that my daughter turns 18 without her permission and in my opinion that's ***** because that money does not belong to you anymore. That money should have been available on the day my daughter turns 18 because when they invested the money they were well aware. Second: since STBF does not bother to read the emails, does that mean that my daughter will only receive her money 2 to 3 months later. Thirdly, how do I even contact STBF for any information when their telephone lines are faulty. Fourthly, how does such a large financial institution not know how investments work... dont they know that they cannot do whatever they please with the money once a child turns 18... this waiting period of 30 working days is hogwash, because if their lines were working and they actually read their emails then my daughter would have collected her money on the day she turns 18. Now thanks to STBF who always claims to put the best interest of the child first has messed up my child's entire future. She was supposed to go overseas to study and now thanks to STBF her plans are on hold. The very institution that was given the task of ensuring my child's financial future and future studies has now ****** my child of an opportunity of a lifetime. If my daughter doesnt receive her money on time and she loses her opportunity, I will hold STBF solely responsible, because their communication sucks, and we cant contact them. Due to my experience, I would never recommend Sanlam investmenting your life cover for minor beneficiaries as their interest is not in your kid. A financial institution that holds your money and there is no way in which you can contact them... pathetic, disgusting and absolutely disrespectful to clients. Shame on you for your service.