I went to one of his seminars and "fell" for his act. It was only later I realized it was all self promotion; best financial planner - HA!
He took all my money and put it in a segreagted product, Incomeplus. He said my money was protected and I could withdraw up to 20% without any penalties if I needed to. When the market collapsed he assured me my money was safe. After losing over 30% very quickly without ever receiving a phone call I panicked. When I tried to talk with him he passed me off to his support staff. It took me two weeks to get an appointment. When I asked for my money back (because of the guarantees) he told me I would only get the market value and would be charged an additional 5% because of dsc charges. The guarantee was only on the income portion and if I took any out before age 65 it was only for 20 years. I am 62 and need income.
When I taked with another advisor he explained Rousseaux made a 5% commission by locking my money. He also pointed out I needed more than the minimum to meet my expenses so this was not the right product. I am stuck!
This is a warning to anyone who deals with this company. I have complained to Manulife but they are saying it is my word against his.
Al
Burlington, Ontario
Canada
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