Is an Old Mutual Agent really an Old Mutual Agent

[riverdusty]

Hi

I've been contacted by a guy who I let come and see me and talk to me about products that his company offers through Old Mutual. They seem legit but I'm a skeptic.
I've tried to contact Old Mutual to verify that these people are registered agents of theirs and not some scam artist.
Old Mutual don't even get back to me after I request information from them, so they're pretty much useless.

How can I verify if they are legit and not some con?

 

[riverdusty]

Their website is "under construction" but is legitimately registered, but only recently.

 

[Fulcrum29]

Their website is "under construction" but is legitimately registered, but only recently.

Who is the company?

 

[riverdusty]

Who is the company?

Profin Financial Services (OLD MUTUAL)
profinconsult.co.za (don't put www, it seems to timeout).
They have the accreditation image in email signatures, but really, thats simple to do.

 

[Freshy-ZN]

Ask him for his FSB license. Easy.

 

[Freshy-ZN]

Or https://www.fsb.co.za/Departments/fais/searches/Pages/providers.aspx

 

[riverdusty]

Or https://www.fsb.co.za/Departments/fais/searches/Pages/providers.aspx

They don't seem to show up directly there, although some results are fairly similar.
Would they still show up as themselves even though they're an Old Mutual Agency Franchise, or would they be operating under Old Mutuals license?

 

[Freshy-ZN]

use the ID number of the guy who is claiming to be something. He must have a license unless he is under supervision in which case he should be with someone with a license.

 

[Creag]

Ask him for his FSB license. Easy.

Agreed. If they are an authorised financial services provider, they must have a number which you can verify with the FSB.

 

[Freshy-ZN]

In fact, as far as I am aware it is mandatory for him to give you a copy of his credentials. If he had done that we would not be having this discussion.

 

[riverdusty]

In fact, as far as I am aware it is mandatory for him to give you a copy of his credentials. If he had done that we would not be having this discussion.

Yeah, ok. All he gave me was a business card which says:
"... is an authorised representative of Old Mutual Life Assurance Company in respect of these products listed in his Old Mutual mandate letter."

hmm, what mandate letter?

 

[Shi]

My brother dealt with them early last year for some RA stuff and he didn't have an issue with them. I think the guy he dealt with is a certain Mr Davids???

 

[riverdusty]

My brother dealt with them early last year for some RA stuff and he didn't have an issue with them. I think the guy he dealt with is a certain Mr Davids???

Yup, same guy.
He's 40 minutes late for his appointment, but when he gets here I'll ask him for the FSB number anyway.

 

[Freshy-ZN]

Ask him for his license.

 

[Shake&Bake]

Profin is a division of Old Mutual. I don't deal or work with them and have no point of contact for you unfortunately. But it's real.

 

[riverdusty]

Many thanks guys. You can never be too careful