1 reviews | Active since Jul 2014
Incorrect investment from Financial Advisor - Kevin Steyn
My mom took out an investment policy and instructed the bank that she was retired and needs to have access to the investment in the event that she needs a monthly income equivalent to what she was earning. the advisor Kevin Steyn told her not to worry they have invested her money and she will have access as and when she needs it. Needless to say the day she asks for her monthly income to take effect the advisor processed her paperwork based on what she requested only to fins out 2 months later that how he invested her funds was not what she requested and now she can't get the monthly income she needs to live and they only paid her R3000 per month. She had to move out of her apartment becuase her rent was R7000, she lost her good credit record, she lost her medical aid cover, but most of all she lost her financial independence. I would not recommend Standard Bank Financial services to anyone. They came to see her and admitted that it was a fault on their part and that they would get it sorted. After the meeting my mom struggled to get hold of them and they then said oh they trying to find her a job or help her in their own capacity for their mess up. After numerous calls again they told my mom there's nothing they can do as Stanlib does not want to release her money. This is not acceptable as other family members including myself has also now been put under financial strain as we have had to assist my mom financially while we are waiting for them to sort out their mess. They sent us a letter 6 weeks ago saying they consider this high priority to sort out but nobody even bothered to contact my mother personally. I am highly upset and disgusted that they have no regard for people's hard earned money. My mom is retired and should not have to go back to work because of their mess. People must be very careful where Std Bank is concerned. I will never recommend anyone use Std Bank.
Dear Olivia
Thank you for your posting.
Email sent to you requesting more information to attend to this matter.
Kind regards
Clint Petersen
Complaint Resolution Centre
***
Dear Olivia
Thank you for your posting.
Email sent to you requesting more information to attend to this matter.
Kind regards
Clint Petersen
Complaint Resolution Centre
***
Dear Olivia
Thank you once again for your posting.
I refer to my email correspondence and can confirm that the formal complaint is being dealt with.
Kind regards
Clint Petersen
Complaint Resolution Centre
***
Dear Olivia
Thank you once again for your posting.
I refer to my email correspondence and can confirm that the formal complaint is being dealt with.
Kind regards
Clint Petersen
Complaint Resolution Centre
***
