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Colonial First State

Colonial First State

1.6 from 78 reviews

Reviews

(6)
(5)
(1)
(4)
(62)
  • Transparency
    1.2 (9)
  • Customer Service
    1.3 (11)
  • Rates and Fees
    1.0 (2)


Jeremy Dawson

Jeremy DawsonKambah 2902, ACT

  • 2 reviews
  • Verified customer

appalling lazy unhelpful service

published
Transparency
Customer Service

Zoe

ZoeSydney, NSW

  • 2 reviews

Very poor communication/ handling

published

My ex-employer set up an account for me and i tried transferring to other super fund and closing my current account finding that they spelled my name wrongly. They immediately changed this in and notified CFS about this. However, now when i speak with them they need me to fill form, send it via post ( their lack of digital is big so don't expect anything than manual) and go to GP or a lawyer to verify it's my name and send it back to them with my ID even though i have not set up account,nor made a mistake and this was also fixed by my ex-employer. Just avoid this super fund as one small mistake will cost you so much of your time that it comes to our citizen experience being so poor.

Transparency
Customer Service
Rates and Fees
Insurance Options
Income Protection
See all answers

Thieves!

published

I went through the process of getting my super early due to financial hardship, they sent the forms, I filled them out and sent them back. then they sent them back to me asking me to cross a T or dot an "I"... almost literally. it was something as stupid and simple as that... I think I had to send them 3 times.
And all those times cost me an administration fee, this super company is dodgy and I hope they go bust.

Transparency
Customer Service
Rates and Fees
daniel calvo

daniel calvoSydney, NSW

  • Verified customer

COlonial First state: a disgrace or organised robbery!!!!

published

How could we certainly not give a 0 to this super fund - a 1 being too nice! the most disgraceful of all of the Superfund i came across so far and the first fund that takes money from you and not only a little but a lot!!!! I am upset to come to the realisation that this banks deserve the royal commission and that i had to realise this way. Really i hate humanity when i see what they did to my money 6000 AUD = 50% of the money that was there is gone in less than 3 years..ow can they set up such a useless fund...my kids would have done better with that money! fools - that is all you deserve: a good insult the old fashion way.

Transparency
Customer Service

Tim

Tim

  • 5 reviews
  • 1 like

Tpd Rejected

published

Avoid

published

Balance went down and was told this was due to market fluctuations, then received a call back saying it was a fee incurred for switching to a different investment fund. No fore-warning at all when switching fund, If i'd known I wouldn't have proceeded, no remedial action, empathy or anything for the customer.

Transparency
Customer Service
Insurance Options

Pearl M.

Pearl M.Metropolitan Adelaide, SA

Try someone else :).

published

Someone I know was here on a work visa; his visa has since been cancelled and he's been living out of Australia for a couple of years now; but this company still haven't given him his Super; totally inefficient and haven't got a clue how to return your money when it's time to do so :(

Transparency
Customer Service

Robert Kaya

Robert KayaVictoria

  • 2 reviews

Impatient Staff!

published
Transparency
Bree

BreeCanberra Central 2601, ACT

  • 2 reviews
  • 1 like

TERRIBLE!!! - Criminals running this business

published

From 2007-2015 my superfund was Colonial First State. I would always check my balance to see if it was growing, but it never did. It would actually decrease. Money would continue to go there, but I would never see the amount grow. In 2015 I decided to switch to Australian Super and now my superfund grows $15-20k per year!!!

Colonial First State are criminals and need to be taken to COURT. How is this legal?. How can they get away with this?? Im extremely unsatisfied and upset they have taken money away from my future.

Transparency
Customer Service
Insurance Options
Income Protection
See all answers
zu

zuSydney, NSW

  • 7 reviews
  • 6 likes

Poor platform

published

Been with them for almost 15yrs. The platform is dated and not much improvement since, only slight cosmetic changes. The platform doesn't even have the basic of being able to see how your contribution in a particular fund has performed over the years. Need to go through an adviser to obtain that apparently.

Phone support has been good without much wait.


Coco

Coco

  • 22 reviews

Terrible return ..do not invest with Colonial First State, Do not trust financial advisors that get commissions

published
Transparency
Customer Service

Alex D

Alex DSydney, NSW

Ripp Offs - Stay clear DO NOT USE Colonial First State!

published

Consistently lost my money... How is this not a crime?????
How are they constantly losing my money.. my balance drops year after year by over 20%

Absolutely ridiculous!!!

Do not invest with these criminals!!!!!

Customer Service
Insurance Options
Income Protection

Zensoku26

Zensoku26South East Queensland, QLD

Poorly managed. Transfer your fund to an industry one for members and run!

published

Just got my statement and lost over $2000 compared to the previous 6 months. Clearly the muppets who run this fund don't know what they're doing and just out of Uni.. I am part of the Class action against this fund and hope that plays out well for me to get something back from these thieves.

Customer Service
Insurance Options
Income Protection

High fees low returns

published

unfortunately i join thousands who have been subjected to thousands of dollars per year in fees and a return of negative 2.8%.. I'm sure i read an article recently that stated CFS was supposed to roll over high fee accounts to low fee's as a result of the royal banking enquiry.. it would be interesting to find out what happened, however I won't be hanging around to ask!

Kat

KatSydney, NSW

  • 10 reviews

Shocking

published

I lost over $1,000.00 in 6 months how the hell does that work.
Wasn’t my choice of super but will def be rolling over.
FYI They aren’t even in the top 10 of super performers.
Is it that Comm Bank have offloaded CSF was performing marginally till then.

Customer Service
Insurance Options
Income Protection

Terrible

published

I've been with them for about 2 years. Had the money been placed into a bank account, there would have been twice the amount. Its incredible how terribly managed this fund is. I empathize with those who have got to stick with them until their loss is recovered - who knows how long that will take. I've basically cut my losses and rolled them over into another fund. Avoid them if possible.


Lost $67,674.22 from 27.8.18 to 23.12.18 such poor management for a Balanced Super Fund.

published

A substantial loss of value from my super value since mid August, 2018 to 23.12.18 is disgracefull for a Balanced Fund. I would not recommended them.


Brisbane

BrisbaneBrisbane

  • Verified customer

Never ever deal with these guys ever!!!!

published

Victim

VictimEstella Rise

Thieves

published

From July 2017 CFS told me that I could get $36K in interest annually. I was living on $26K so, expected to see my money grow. The first 6 months was on target, to give you a false sense of security.
The next 6 months it died and the last 4 months I went backwards.??????
My capital lost $11k in 4 months!!!!!!!
At the end of the day I'm out of pocket $70K in 16 months.
I've now moved to an industry fund ( as of this month ) where my brother has been receiving excellent returns.
My brother is also in a conservative fund as he wants to protect his hard earned money also.
I see that the Commonwealth bank has sold CFS to Mitsubishi. I think they needed to load their coffers to get a good price.


Kaz

KazAU

  • Verified customer

SO DISAPPOINTED

published

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Questions & Answers

Roger W.

Roger W.asked

Where does first colonial super rate in top 40 in Australia?

2 answers
Tim
Tim

Hey Roger.
To be honest with you i don't care where colonial rate in the top 40.
My opinion i would not rate them in the top 100.
Why don't you tell me were colonial rate in the top 40.

daniel calvo
daniel calvo

they are not to trust. i paid salary insurance (1500 AUD /6 months) for 7 years without having benefit from it and without having requested it.


Wenston Seoo

Wenston Seooasked

Hi Officer : It 's Wenston Seo . I am a this Super member. Would you tell me Colonia First State , ABN number ? My super Account number is [details removed]
Thank you.

No answers

Brian

Brianasked

When you receive distribution they give it to you in units and then reduce the unit price to suit, how can that be legal

No answers

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