Old Mutual
Complaint regarding zero Feedback

I had a RA at Sanlam and moved it over to Old mutual last October 2012, into a Living annuity. The Financial advisor put my money into Money market account against my wishes (My wife was also present at the time), I requested that I was interests was in a more balanced fund. I did not receive my contract till I contacted the financial advisor in April, that was when I discovered that my money was in the money market. I was at the time busy taking a package and early retirement, so I did not follow it up Immediately. Because of this I shifted my works pension from old mutual to Allan Gray.
I have logged numerous requests by old mutual since then to advise me what to do about this issue, I definitely lost some money because of the money market, app growth 1.5% for the period till I moved it to another fund myself, the balanced fund I have and always was interested in, made 11.5 % in that time. every time I get told someone will come back to me, I have numerous e-mails, but no positive response, Please do not bother to get the financial advisor to contact I am not interested in his feedback, telling me that he was working in my best interest. My next step will be the Ombudsman

Company: Old Mutual
Country: South Africa
City: Cape Town

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