7 months ago
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Two customers of the Victoria Mutual Wealth Management, VMWM, are reporting issues with bonds taken out with the financial institution.
The two customers say their bonds matured in the final quarter of 2024, but the bonds’ principals have not been paid to them.
When a bond reaches its date of maturity the bond issuer pays back the bondholder the full amount they are owed.
The two customers, Garth Williams and a man who identified himself as Michael, were callers on Cliff Hughes Online on Thursday.
After the calls to the Nationwide90FM programme, VMWM issued a statement saying the concerns of the customers will be addressed.
Mr Williams, who called into Cliff Hughes Online from the United States, says he has had a litany of issues trying to access his funds from VMWM.
Mr Williams says among the hurdles he’s faced are unresponsive wealth managers, technical issues preventing him from accessing his account and what he’s describing as inaccurate sums being reflected in his bank statement.
Mr Williams says his bond matured at the end of December. He says the ordeal has left him frustrated.
Garth Williams, a caller to Cliff Hughes Online.
Less than an hour after Mr Williams voiced his grievances on air, another caller, Michael, shared a similar experience.
Michael says his bond matured in September and he has been frustrated at a lack of progress.
Michael, a caller to Cliff Hughes Online.
In a statement on Thursday afternoon, VMWM, said it has noted the concerns raised by the callers to Cliff Hughs Online.
VM says it’s Wealth Team will contact the clients and address the issues raised.
The financial institution says it’s committed to providing all clients with the best experience as we partner with them to build, grow and sustain their wealth.
English (US) ·