BM
Boni M
1 reviews | Active since Mar 2012
18 Feb 2016, 10:38
Inconsistent information from consultants
Did a part withdrawal on the 8th Feb, on the 12th , I get a call that directive has been received but I exceeded 95% of the limit. I need to resubmit form & it will no longer go to SARS , & in 24 hrs funds will be available.<br> Resubmitted on the 15th, later I called to check was told that all is fine I should wait 24hrs. Called again Tuesday spoke to Themba, he said I should wait another 24 hrs or call again. Called Wednesday spoke to Themba again requested a supervisor, he put me on hold for over 10 minutes then he dropped the call, called again spoke to lerato, asked for a supervisor, she refused & offered assistance which was trying 1st call resolution, bt she failed dismally As insisted that I must listen to what she is saying , and as of yesterday I must wait 7-10days. <br> Told her I still need someone senior she refused put me on hold until I decided to put the phone down.<br> The inconsistency from consultants drives me mad , if they were telling me the same thing I would relax. But now it looks like I a have hell lot of time to waste listening & waiting for someone to give true information or to get a responsible manager to call me.
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STANLIB's replyOfficial
22 Feb 2016, 18:56Hello momo12,
We appreciate your using Hellopeter to bring the issue to our attention. It is a very important customer forum for STANLIB.
I understand the confusion caused in not explaining the technical issue we experienced on receiving you exact instructions on what to disinvest from each portfolio. It is on a portfolio level that you breached the 95% max if not making a full withdrawal. On all occasions of contact with you, we did not manage to explain the issue clearly. We also did not explain that every time that you re-edit your instruction, unfortunately the 5 day period kicks in. The time taken is due to instructing the Mancos to sell the units in the market and then awaiting for these funds to be paid to our bulk accounts before allocating back to your investment for payment to you. This is what happens in the background.
We will not disappoint you and most certainly your trust is warranted as we do follow all processes and legislation in protecting and preserving your investment.
I am happy that we did meet our obligation to you.
Warm Regards
Barbara Egan
on behalf of STANLIB
We appreciate your using Hellopeter to bring the issue to our attention. It is a very important customer forum for STANLIB.
I understand the confusion caused in not explaining the technical issue we experienced on receiving you exact instructions on what to disinvest from each portfolio. It is on a portfolio level that you breached the 95% max if not making a full withdrawal. On all occasions of contact with you, we did not manage to explain the issue clearly. We also did not explain that every time that you re-edit your instruction, unfortunately the 5 day period kicks in. The time taken is due to instructing the Mancos to sell the units in the market and then awaiting for these funds to be paid to our bulk accounts before allocating back to your investment for payment to you. This is what happens in the background.
We will not disappoint you and most certainly your trust is warranted as we do follow all processes and legislation in protecting and preserving your investment.
I am happy that we did meet our obligation to you.
Warm Regards
Barbara Egan
on behalf of STANLIB
Best regards,
STANLIB's reply22 Feb 2016, 18:56
Official
Hello momo12,
We appreciate your using Hellopeter to bring the issue to our attention. It is a very important customer forum for STANLIB.
I understand the confusion caused in not explaining the technical issue we experienced on receiving you exact instructions on what to disinvest from each portfolio. It is on a portfolio level that you breached the 95% max if not making a full withdrawal. On all occasions of contact with you, we did not manage to explain the issue clearly. We also did not explain that every time that you re-edit your instruction, unfortunately the 5 day period kicks in. The time taken is due to instructing the Mancos to sell the units in the market and then awaiting for these funds to be paid to our bulk accounts before allocating back to your investment for payment to you. This is what happens in the background.
We will not disappoint you and most certainly your trust is warranted as we do follow all processes and legislation in protecting and preserving your investment.
I am happy that we did meet our obligation to you.
Warm Regards
Barbara Egan
on behalf of STANLIB
We appreciate your using Hellopeter to bring the issue to our attention. It is a very important customer forum for STANLIB.
I understand the confusion caused in not explaining the technical issue we experienced on receiving you exact instructions on what to disinvest from each portfolio. It is on a portfolio level that you breached the 95% max if not making a full withdrawal. On all occasions of contact with you, we did not manage to explain the issue clearly. We also did not explain that every time that you re-edit your instruction, unfortunately the 5 day period kicks in. The time taken is due to instructing the Mancos to sell the units in the market and then awaiting for these funds to be paid to our bulk accounts before allocating back to your investment for payment to you. This is what happens in the background.
We will not disappoint you and most certainly your trust is warranted as we do follow all processes and legislation in protecting and preserving your investment.
I am happy that we did meet our obligation to you.
Warm Regards
Barbara Egan
on behalf of STANLIB
Best regards,