Not so Mutual satisfaction


Not so Mutual satisfaction

Gavin Foster reports: "It all started promisingly at the end of July with an undated letter from Old Mutual telling me that the company had established that the asset management fees charged on an investment I had with them some years ago were “slightly overstated” and I was entitled to a refund of R1,033.82."

It wasn't going to be easy actually getting the refund, because of all the forms and verifications required, even though they (OM) already had all the info - after all they'd been debiting the bank account every month with no problem. When approaching Old Mutual the response was: "If you really look at it, we could have just kept quiet and pocketed the profit." Really?

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