Terrible service
<p>I'm a widowed mother of 3 kids and dont earn enough money to maintain the kids and household. I had invested some money with Investec so that i could earn an Extra Income from the interest and felt that i was not getting enough. I started shopping around to try and see if i cannot get better rates from other financial institutions, I then saw interest in what Stanlib had on offer. A couple of days later i set up an appointment with one of the Advisers, whom i thoroughly explained my situation to in hoping, from his Experience he would give me what i needed.</p> <p>I visited the NorthGate Branch (Standard Bank) and was introduced to the ***********, non- knowledgable Terence Terrible Mudau. He told me about a plan which would benefit me immersely considering my situation, pulled out one of his client's Portfolio just to give an idea of the growth, very convincing, He carried on to say that i could do withdrawals at any time without the policy being affected.</p> <p>A few weeks later i made a call to the call centre to follow up, i spoke to a Linda who had absolutely no idea what i was referring to. She gave me a completely different version to the type of investment as expalined by Terence. When i contacted Terence back for clarity, he advised me that the Call centre agents did nt have a full understanding of what the Product entails and promised that He would get back to me after having a meeting - on the day - with one of the Stanlib's manager. He failed to get back to as promised. I then called to follow up and still did not get any response. i had since had meetings with Amanda from the Northgate Branch, David, Mr Paulsen, spoken to Feroze and Mohapi from the Call centre and still hanging.</p> <p> </p> <p>The product sold to me was not what i initially agreed on with Terence, i invested money that is sitting on a minus instead of growing. I'm told about the different markets..... aggressive, moderate .... after everything was done. I'm extremely frustrated considering all expenses hanging on my end and the fact that my money is not GROWING!</p> <p> </p> <p>I NEED HELP, MY KIDS NEED FOOD ON THE TABLE AND HAVE NO ONE ELSE BUT ME TO RELY ON.</p> <p> </p> <p>I followed up with Paulsen over a week ago and has told me He's still waiting for feedback.</p> <p> </p> <p>can someone please hear my Cry and attend to the matter As soon as possible.</p> <p> </p> <p>please bare in mind that this is the shorter version to my query.</p> <p> </p> <p>Noki Ramatsoma</p> <p>id no: ********** 947087</p> <p> ********** 728</p>
Hello Noki,
As discussed with our Asief Suleman, your financial planner has placed a good portion of your investment in a term-certain product. We cannot comment on whether the advice was appropriate or not as STANLIB is a product administrator contracted to manage your choice of investment. STANLIB follows and does not question the investment instructions received from the investor or the financial planner representing the investor.
We have pointed out that if you are not happy with the investment and have good reason to consider that the product does not match the advice provided or your financial circumstances, you have the rights to take the matter up with the FAIS Ombud (www.faisombud.co.za) or the Ombudsman for Banking Services (OBSA) - www.obssa.co.za.
We do hope that you are given the opportunity to find a satisfying solution to suit the financial future of your family.
Kind regards,
Barbara Egan - on behalf of the STANLIB team.
Best regards,
Hello Noki,
As discussed with our Asief Suleman, your financial planner has placed a good portion of your investment in a term-certain product. We cannot comment on whether the advice was appropriate or not as STANLIB is a product administrator contracted to manage your choice of investment. STANLIB follows and does not question the investment instructions received from the investor or the financial planner representing the investor.
We have pointed out that if you are not happy with the investment and have good reason to consider that the product does not match the advice provided or your financial circumstances, you have the rights to take the matter up with the FAIS Ombud (www.faisombud.co.za) or the Ombudsman for Banking Services (OBSA) - www.obssa.co.za.
We do hope that you are given the opportunity to find a satisfying solution to suit the financial future of your family.
Kind regards,
Barbara Egan - on behalf of the STANLIB team.
Best regards,
