Dodgy super company stay away
The client portal is too complicated, and they don't update any details about the fund performance or fee change. The customer service is really slow and doesn't know what they are doing. The fund returns are poor, and they've intentionally made changing fund, very complicated.
Withheld my early release of super during covid 19
I have been a member for about 10 years.
Besides the point, I applied for early release on the 5th July, ATO approved on the 7th saying I would be paid out in 5 working days.
It has been 17 days now and they offer poor excuses and cannot give me a solid date on release.
The government has approved it yet they are withholding MY money so they can make a few more cents gambling with it in the stock markets.
Will be changing my fund as soon as I am paid out.
Rubbish service, expensive and uncooperative.
6 years, the E-Wrap was meant to be great for flexibility and include options for insurance. The insurance premium has since hiked through the roof due to what has been explained as a combination of market conditions and people leaving the fund.
Not surprised to read others troubles and low opinion of Asgard
It is some comfort I am not alone in realising Asgard are dud. I changed financial advisors and we have both had problems getting Asgard to change access to her - IT problems apparently. It rather makes you wonder what other things their problems with IT are impacting.
I plan to progressively move from Asgard to another fund, as I have found them increasingly in adequate. At least, all these delays mean my account has recovered a bit of the $50k drop over the past few months!
COVID-19 early release of Superannuation
Like many, the current COVID-19 impacted my household dramatically. I was fortunate enough to be able to gain access to some of my super. I nominated to draw down funds from my Asgard ewrap account. . Big mistake!I was aware that I had to change the name associated with the account ,so I knew that the funds would not drop into my account in the time frame that the ATO believed funds would be made available from fund managers (up to 5 business days). Asgard was notified of the request to transfer money from the 22nd of April. Since the 27th Apr...il I have called Asgard every second day to see when the funds would be deposited into my account. This request had not been undertaken. I was told that once the name of my account matched my details with the ATO (it did from early last week) the funds would be released: this was not the case. I called Asgard yesterday and I had to beg them to start to sell down across my super portfolio . It is likely that it will take up to an additional 10 business days for the fund managers to release the funds. No action would have been undertaken to release the funds if I had not I called. My partner has the same investment profile in his MLC Super fund ( as I do in my Asgard fund) and his funds were available in 48 hours. I also question their solvency. I really want to transfer to a new account but I know that it is a bad time to transfer. Also having to go through the process of setting up new insurance policies with a new superannuation will be a nightmare. In addition to this , the fund has really under performed .
Lack of attention to detail has led to long term ongoing problems
My husband and I both had superannuation accounts with Asgard over a long period of time. When my husband passed away, I needed to move my super away as there was no longer a link to the discounted rates we had been given, and the rates offered to me by Asgard, in spite of a long time association, were abysmal. Unfortunately, during the transfer process a lack of attention to detail led to an error being made in the information passed on to the new super company - which has had ongoing tax implications which are still causing issues for me some...18 months later trying to have them corrected. You have one job Asgard - Super. It's your job to be across all aspects of superannuation law and to handle it properly. A small mistake by you has led to a large, unnecessary tax bill and is costing me a lot of money and angst to try to have fixed
The worst experience ever
I've been with Asgard since 2010 , recently changed my job and tried to rollover my fund to another super account, as soon as I requested the transfer I lost $5000 . Tried to call them and they said I have lost the money because the market was hit by the crona virus crisis and it affected my share into the investment they had put my money into, I don't know if they are telling the truth. Please people if you know who to contact or complain to let me know, I'm so devastated and heartbroken. After 10 years of hardworking never earned a penny from their investment now I have literally lost $5000. So disappointed.
I've had extreme problems with Asgard re. a deceased estate I now manage. They charged fees for advice to a dead man (despite Royal Commission telling them not to), charged admin fees while misadministering the fund, did not advise complaint avenues, did not advise interest rates and gave inconsistent answers throughout.
UPDATE - I moved all my funds out of Asgard and the Westpac group and took my claim to AFCA. The end result was a small 'goodwill payment' and admission that dividends should have been discovered and returned much earlier. I'd encourage anyone dealing with this firm to check records carefully and report any misconduct to AFCA and ASIC.
Is Asgard Actually Solvent?
Given the frequency of obstruction and obfuscation practiced by Asgard in regard to legitimate claims - practices so often used by companies in financial difficulties or insolvent and unable to meet financial oblications - it raises some serious questions:
1. Are they insolvent? and if so, what chances are there of recovering monies owed to you.
2.Are their owners (BT and Westpac) in financial straights?
3.Are they incompetent?
4. Are they fundamentally dishonest as they use customers' funds to feather their own nests while fobbing off their ...
DO NOT USE ASGARD
I had my super with Asgard for 18 years and it made a return of 0.03% per year over that time after fees. This business is nothing but a ponzi scheme designed to take your hard earned money. The government should be ashamed to let such business operate
***WARNING*** Thieves at work. ***WARNING*** Thieves at work. ***WARNING***
My mother passed away and as executor of her will, they will do everything in their power not to forward on her superannuation so it can be passed to the beneficiaries
1. They say they won't deal with the estate, they deal only with the individual beneficiaries. What a load of crock. The executors for the estate are appointed by the courts. They are required by law to deal with the executor. 2. They say that you have to wait as there may be people objecting. That's what the court decides you bunch of pin heads! That is not up to them to decide. And, how do people know their has been a claim made by the estate? Where do they advertise this so people can see if they have an objection?
What they forget is, it"s not their money!
Must be a good fund for advisors
I was with Asgard since 2008 as it was the company default option. My advisor loved it. Must have been getting good commissions. If it is such a good option, as they say it is, maybe they should have taken a minute or so to explain how to get any gain out of it because I never did.
In 2015 I fired my advisor, changed to a top 5 super fund and put my investments in mutual funds and tripled my yields overnight.
Super fund for financial planners
I was put into this fund by my financial planner. If I hadn't got out when I did I would be broke. Every month I lost thousands. When I sacked my financial planner and there was a couple of weeks gap before I could get my money into an industry fund, Asgard told me I couldn't have money there without a financial planner. What does that tell you about the relationship between Asgard and my FP?
Cost me money
Was with this super provider for many years as my previous employer organized a " deal".
In short it cost me alot of money over many years before I realized and switched providers.
Looking at the numbers is shocking as there was a decline in my super funds over many years. I guess it's something alot of us don't pay attention to until its too late.
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
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.
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 !
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