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1.6 from 58 reviews

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Only people who make money from Asgard are the Financial Planners

Was with them for 10 years super and investments - lost $200,000 on investments and the net return on super was $0 - i.e. I put more money in then my balance when I rolled over. They are garbage avoid like the plague. Have extraordinarily high fees which they pass on to advisers.... that's why advisers like them

Customer Service
Insurance Options
Income Protection

Avoid Asgard

Closing my account with them took over 2 months, they were deliberately stalling the process to keep the funds from me. Backward and unorganized establishment do not trust them with your hard earned funds! Shocking experience, absolute bunch of cowboys.

Customer Service
Insurance Options
Income Protection

50% increase year on year on my life insurance fees!! What a joke

Been with Asgard for three years and yet another increase on my life insurance from $75 per month to $112.85 per month for 2019. 50% increase and no cover increase !

Customer Service
Insurance Options
Income Protection

Making huge fees and investment loss every year

This superfund is even worse than a Ponzi scheme. I am very upset with this fund after losing $2000 dollars for useless insurances that were sold as a package. Never again! I will change a fund today.

Customer Service
Insurance Options

Late and Beligerent

Asgard banked a cheque for insurance i was contemplating taking out 18 years ago (and failed to refund me at the time). Years later i closed my associated superannuation and they (again) failed to rollover that amount (which they later say was lost. Now they send me a cheque (with a tiny amount of interest) which they say is meant to compensate me for 18 years of fiscal failure on their part. When i lodged a complaint they actively stonewall and won’t answer my questions. Bad company, reporting mismanagement to the regulator.

Salary Continuance Claim- Poor service..protracted delays.

I joined Asgard insurance in 2012 when my Financial Advisor recommended I roll several Superannuation Funds into one to minimize fees. I took out Salary Continuance and TDP insurance to ensure my standard of living would be maintained in the event of being unable to work for whatever reason. It was not something I thought of much at the time.
Roll on a few years and I have unfortunately been unable to work since 2015. I was not in a condition to make a claim until a few years after my psychological injury. I had medical reports (300 pages of evidence provided in the first submission)..additional requirements and reports have been requested since September 2017.
My GP and Psychologist have submitted 3 reports that support my application, however, they keep on asking for more despite the hundreds of pages of evidence.
After 3-4 months AIA (they subcontract the claim process) approved a salary continuance amount that is considerably less than I was earning (and paying a premium for) so check the fine print on your policy on how your salary continuance payments are assessed. I have been receiving payments monthly for my current condition since Feb 2018, but cannot get approval on a back-dated period where I was not able to handle anything other than getting through the day. It took me 2 years to be able to apply for Centrelink. Dealing with Centrelink is a dream compared to the service received from Asgard ( that gives you an idea of how disrespected I feel as a Client).
I have had to proceed to APRA after over a full year of bad service and delays. My experience is that phone calls are rarely returned, staffs' verbal and written commitments to assist you are 'lip service', and even their internal complaints department rarely get back to you. Despite being in Financial Hardship, losing my house and becoming unable to return to being a Trainer/ Business Development Manager the ordeal of persisting with my claim (because I am legitimate, and I paid my premiums in good faith), it has caused me so much anxiety and stress it has affected my recovery.
I would not wish my experience on anyone. For heaven's sake-don't believe a Financial Advisor that 'sells the insurance' and makes it sound so easy and glossy. They make high fees/ ongoing commissions for no service and then take no responsibility to assist you when you need it.
Before choosing a personal insurance provider check reviews and ask people that have had to claim about their experience.
I cannot help that feel that Asgard's focus is to avoid paying out any money. As I Client I have been ignored, lied to and denied the ability to start recovering to return to work.

Deceptive commercial business

It's hidden fees and charges made me lost all my super contributions for 3 year!!! It's worst business full of indecency and deceptive conduct. It should have been reported to recent Royal Commission and audited by APRA carefully in details in ceasing further loss for both existing and previous innocent customers.

Stay away with this crook service

Been with asgard since 2010 but recently I found fees are very high on top of advisor fees. I asked many times to change and review my investment but they refused and very rude over the phone. Lost more than 4000 $ on fees and management. Please avoid Asgard . Now I change to other super and paying less than asgard. AVOID this Crook Service.

Crap service stay away

Been with them about 7 years. They just took more money out off my account rang asgard and was told interest rate changes all over world and all this other crap to many charges. My super simple low cost investment that changes as you move through like thats the letter I got July 2017.

Finally I have one chosen super fund

I have had many super funds, and since my Mum passed away I have made a conscious effort to roll everything into one. My Asgard fund was the choice, I have an adviser to manage the fund which is the most suitable option with Asgard. I give it 5 stars for now, and will monitor it over the rest of the financial year. But in terms of accessability with information about my account, and the ease in which I was able to move everything over was seamless. Here's hoping

Good platform for wrapping up all investments

I am only writing this review because I was looking for something else and came across all these terrible reviews. Seriously understand why all the people are giving it 1 star, because they obviously do not understand what Asgard is. I chose my investments (and my financial adviser), shares and funds, etc, Asgard give me the platform to wrap all these investments in 1 place and easily view my entire portfolio as well as giving me a tax report each year. They do all this for a quite reasonable fee. My returns are pretty good and I have been using this for over 10 years, but even if the returns were not good, it would be mine and my advisers fault alone. Note! I am not recommending them for everyone - speak to your adviser, if your performance is bad, sack your adviser.

Asgard is a quality option for the right investors

As a regular user of Asgard for clients a lot of the review on here are simplly misguided. Asgard eqrap has minimum fees and doesn't suit balances under $100,000. Above that is is a cost effective quality platform. It is however like a supermarket of products. The returns as based on the products you pick. Asgard itself is not an investment so critics of its returns just don't understand how it works. THere is also the old Asgard Master Trust which was aleading product in its day but is now dated and relatively expensive so stay clear of that one. Asgard is owned by BT of which Westpac is a major shareholder. This means its robust. There are billions of dollars in it. It is safe and flexible. But it is a product designed to be used in conjuction with an adviser. Without one service will be horrible as its not set up to deal with the public. If you don;t want an adviser or don;thave sufficent complexity to get vlaue from an adviser it it may well not be the product for you.

The highest Fees rate I have heard of!

Their fees were equivalent to approx half the Employer contribution amount each 6 month period and 6 times the tax taken out! Recommended by financial adviser! I wonder how much he was getting as a kickback? They should definitely be investigated! Left them after wife kept nagging...and for good reason. My Super was dwindling but their fees never altered!

Stay Away

10 Years ago my first employer signed me up to Asgard, I didn't really know much about it. My next employer signed me up to Aus Super (Thank God!) and now when you start to learn about super and how I have money that's sitting with Asgards not growing and actually just losing money from Fees it's time to combine it. It's been 2 years of trying to get them combined, and Asgard are doing everything they can not release the funds. I've never received a statement or any information until 8 years later of being with them. I'll keep trying to have the funds removed from their control, but I suggest staying far far away from them.

Do not use this company

I took out life insurance in 2002 through an insurance broker through ASGARD, she then sold it to another broker in 2004, he APPARENTLY sold my policy to someone ELSE that I never heard from nor did I know who handled our insurance. On the 27th Feb 2018 I was informed of nearly $500 direct debit to ASGARD each month, I had never seen statements for my business as we entrusted our insurance broker. I called ASGARD to find out what the money was for.... they asked me security questions 1 wasps my address I gave them that but it wasn't the same as on their system, it took me 3 calls to find out who's PO BOX it was. They said we aren't and don't know who's it is. Anyway I asked [name removed] to amen it which he did, I asked why 1 policy was 3 tines the other one I was told it's because I'm a smoker, I said I gave given up 102 1/2 yrs ago so I would like a cheque refund or that money to go onto my policy moving forward. I was told to send proof which I did and they would send it to the claims dept. TODAY 13th March I called them to see if and when I would get the refund I was told it had been assessed by ASGARD outsourced advisor and it came back as no refund as I had not filled in the form from my insurance broker. So I told them about 5 times I had no copies of the policy nor knew who held my policy, they said it's up to me. What a joke how can I call someone when I don't know who nor which company has my policy. We went on a merry go round fir 2 hours me trying to get them to understand no no avail. So from 2004 till now I've given them $74.593 dollars and said why can't the refund be done as obviously we were not informed. No no no no no was I told o said I'm happy to keep the policy with ASGARD, I'M 56 yrs old. So basically do not use an insurance broker and if you do do not go with any ASGARD Insurance or superannuation policy .. Do it yourself and contact a reputable insurance company. Oh by the way you don't speak to an ASGARD person or a ASGARD manager... its a call centre based in Sydney that took me 1 1/2 hrs to get out of [name removed] spoke with a so called team manger Mr. Good with an e good who was rude and dismissive. If hes a team leader or supervisor then that's another joke. I am removing all company and personal superannuation policies with this disgraceful, insensitive company.

April 4th 2018 Update: Promised Direct Debit Refund within 24 Hours ???

After calling Asgard Sydney Call Centre on 13th March informing them not to take money from my account for the 2 policies that had been cancelled, to be promised that my 2 Policy Contributions would be transferred back into my account within 48 hours. hahahahahahaha,
I then called then last week 27th March (after my bank said I was overdrawn on my account) to be ....wait for it told....
Its with the Claim Department and that it was progressing along.
I was fuming so I told her that I wanted it immediately transferred back and that they already have had 15 days to have done, this she said nothing more we can do, I asked to speak with someones at this department I was informed NO, I then asked for an email address again told NO.
So its an imaginery department she said no??? WTH as it was I was speaking funnily enough to the accounts department.
I received a call on Tuesday 7am Perth time from a manager from SYDNEY call centre ....
After I had sent a report into the insurance ombudsman ...
Funnily enough, only to be told the call centres rehearsed policy,
That we are sorry we will learn from it (6 calls to 6 different people) Said I don't care I only wanted my money back.
He said that the cheques had been raised from Sydney they are sent to Adelaide to be signed then returned to Sydney and then sent to me. So by the time if and when I get the cheque it will be over a month. For an amount of less than $500-00 what a joke this is and asgard is. Please please dont take out policy with this company at all.... Over the 16 yrs I have given asgard over $72,000 dollars for a life insurance policy that in the end I may as well have gone to the casino and blew it all...

Super thiefs

I needed my super a year ago it took one year to transfer super from one company to Asgard get a statement and withdraw my funds plus I got taxed on money that was never due to be taxed and a fee of $110 for there hard work plus $100 missing beside the tax figure. I hate super and don't believe in it the way the world is its a struggle to see 30 for most I shouldn't have to have a spine injury or claim tpd to have my funds available top tip for the new generations make your own super fund with our own rules. Don't trust anyone.

Simply wouldn't recommend them at all!

Got roped into this fund by my then financial advisor, didn't really put much thought into it initially as I was dealing with a family death and simply (foolishly) trusted their judgement. Fast forward two years and minimal returns and communication. I finally received my statement and went through it, I was horrified to see how much I was losing in fees and advisor commissions! Now I know why she'd recommended me this fund she was cleaning up off my super! Avoid these guys like the plague, only people who make any sort of money are the fund itself and the advisors who are skimming off the top of your super!

Who cares about the will, they'll give the money to whoever they want

So my dad had a really specific will. He wanted things to go quite evenly. We all had a copy, we all knew about it. Asgard decided to completely ignore his wishes and give it all to one person even though we all filled in exactly the same claim form. When I contacted them, they said one of us had put in additional "documents" to support our claim. This was completely untrue as it all went through a solicitor. They also couldn't produce those "Documents" when asked by the person. This company caused so much stress in an already stressful and delicate situation between all the dependants. I would avoid this company as much as possible.

Horrible Service

This company service wasn't very good, they were sending me the wrong information and every time I kept on doing it they would tell me that I actually have to do something else and I had to keep on changing the things I already did and it was very frustrating. I think they should pay more attention to their customers.

Terrible Service

As Payroll officer, I handle lots of different super funds. Asgard is the one I spent lots of time to communicate and their customer service is not very helpful. It took months to set up online account for us. You have to keep calling and sending email but hardly get any response. I guess they are such big company who doesn't care those small customers.

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Questions & Answers

We were in first state super when we were advised by a manager at St George bank to see their financial advisor. We on his advise, as he went out into his own business, transferred to Asgard. His and their fees have always shocked me and after 5 years have about the same amount as we gave them. Have now lost 25000 in last 14 days. we are retiring next March. Rang and spoke to advisor re my terror of this situation he abruptly said it will turn around but we do not have 10 years or so for this to happen. Where do we go from here?
No answers

Recently Asgard changed my super investment option, they had done it with lots of notice however I had found a discrepancy in my statement which is the issue, after contacting them they had advised me that there was an issue with the unit price at time of transfer and this is why the total super showing is (aprox 20%) less. Have any other current or past custormers of theirs had this issue? I have since moved the remaining funds away from them to another superfund.
4 answers
They have done the same to my son. I have written an email to them asking them to return the money they have stolen. They will refuse. I then will go to the Superannuation Complaints Tribunal and lodge a complaint with my email and their reply.G'day anonymous. I have not heard of this problem. A daily history of the unit price you are disputing for the period at the time of the transaction could assist. If you are unable to get from Asgard (as you have moved your funds) you could try the relevant investment manager external to Asgard. I'm sure this action is not intentional but human error so get your proof (not whining like Sue K response) and keep pushing for your refund. I hope that helps.Interesting that "Facts not whingeing" has only written one response and one review with 4 stars for Asgard. My sons "Fact" No 1. On the 9/6/17, my son had $13,405.96 in his ASGARD Super account. "Fact" No 2. On the 11/6/17, after moving him to another Account without his permission, he now has $10,970.59 in his account. After net earnings of $427.84 for the year. You seem to be a full bottle on all things ASGARD. What would your response be if this was your one and only Superannuation Account? His ex-boss opened it, so no idea who the relevant investment manager is. I'll await your informed reply.

Can I ask how much you pay your financial planner per month? My Dad's financial planner fees are close to $300 per month as well as a monthly fee from Asgard. We are considering cutting ties with the financial planner. What do you think?
4 answers
Hi Louise, sorry for my late reply, this was a work super. you are better off changing super companies to avoid the financial planner feesDepends what the financial planner is providing for the fee.Get your money out ASAP, my young don had money in this fund and year by year they have taken it in one fee and another, plus poor returns. They were advised to cancel insurance premiums, as being in another fund only one fund will pay out if you have a claim, never happened that cancellation. A few years ago through the MyGov, the online tax department we were able to transfer his other funds to his main super fund through this. Asgard were the only fund not to do this, looks like they have rules on how to keep all your money, it should have been a simple transfer. Worst fund ever, his super money will all be gone soon in their fees. Asgard listen to your customers and be more customer friendly, we will never again use this fund and will advise others to not use it as well. Just terrible they take your money andvtheir insurance and fees are expensive compared to the other funds my son was once in. All in Australian Super now, and growing.

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