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Colonial First State

Colonial First State

1.6 from 95 reviews · View Statistics

Reviews

  • Transparency
    1.4 (23)
  • Customer Service
    1.5 (25)
  • Rates and Fees
    1.5 (15)
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RonS

RonSSydney, NSW

  • 5 reviews
  • 5 likes

been with colonial 23 years & it's all good

published

I started with colonial in 1997 with my super in 100% Geared Australian shares ever since that date & now many years later my super has grown into a very substantial amount. Did a switch along the 24 years way way to their Wholesale product but still 100% geared Australian Shares all the way. Of course because it's a geared product there was some very big dips during the Global Financial Crisis & during the COVID scare but it's always recovered in time & powered through for a very good overall long term result (remember super is supposed to be long term; right?).

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Greg S.

Greg S.Metropolitan Adelaide, SA

Brilliant

published

Its a fantastic website, excellent range of funds to choose from with very low fees. They picked up an error by one of the managers I invested in and gave me a credit and I didn't even ask or pick this up myself. Staff in the call centre are very professional. More than I can say compared to my Kinetic (Rubbish) super I used to be invested in before hand. Not the cheapest but you pay for what you get...

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Alex

AlexSydney, NSW

Waist of money and time.

published

Just terrible fund. Very high rates, poor investment strategies and total lack of responsibility for your money. I have been with them for 3 years. They do not care about your asserts growth or defence but rather prefer fully waist it with all the confidence and arrogance.

Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees
Incentivised ReviewNo
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erinpmf

erinpmfSydney, NSW

  • 7 reviews
  • 12 likes

FRAUDULENT AND UNCONSCIONABLE BEHAVIOUR

published
Incentivised ReviewNo

Oh this an Australian made scam at its finest

published
Transparency
Customer Service
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Rates and Fees
Incentivised ReviewNo
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Waclaw

Waclaw

  • 4 reviews
  • 1 like

Disappointing, unprofessional, arrogant

published
Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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SLAussie

SLAussieMelbourne

  • 2 reviews
  • 2 likes

Negative 4.63 growth rate at end of first year

published

3y with them. Not happy at all. You loose your money at the end of the day!!!! ? Transparency ? rates and ? investment all questionable. Instead of growing money loosing is sure!!!

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Danny

DannyMid North Coast, NSW

Worse than Telstra!

published

Three months in and still they have not released our money. Have rang and emailed numerous times to no avail. It is my opinion that they deliberately implement stalling tactics to milk more admin fees.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Goobr

GoobrSydney, NSW

  • 2 reviews
  • 7 likes

Took forever to open an account and they put the money in the wrong fund

published

It took 5 months to open an account. Calling 3 times along the way. At the end of that they put my money into the wrong fund! I had to submit 4 paper documents. All to have my money put into a high fee option that I didn't want, having to call 2 more times to get it in the right option. Quite possibly the worst, most incompetent super company in Australia.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Darren

DarrenMetropolitan Adelaide, SA

  • 6 reviews
  • 11 likes

Care factor of 0

published

Disgusting customer service, they almost cost me 20k and couldn't care less. Wasted my time over and over. 10 calls to date and counting, still cant sort it out - hopeless and no-one there cares

Transparency
Customer Service
Incentivised ReviewNo
Mr potato head

Mr potato headSouth East Queensland, QLD

  • 6 reviews
  • 4 likes

Absolute rogues

published

I believe it's money I will never see.My employer sign me up for high growth years ago should be called no growth financial crisis lost $8,000 I get I get a measly measly interest return each month not even a hundred dollars and now it's getting close to getting my money outThey wan't signed certified copies of everything. With very strict conditions about the documents in the way they're formatted it's just total crap because I gave them all my ID information when first signed up.

Incentivised ReviewNo
Alan T.

Alan T.Perth, WA

  • 10 reviews
  • 37 likes

Unbelievably bad communication

published

I'm convinced that there's a department within CFS that does nothing else but take simple issues, that need to be communicated to investors, and entangle them in gibberish.
All communications from CFS are full of mistakes and contradictions which leaves you to try and contact them to find out what they are actually trying to communicate.
You then come across what is everyone's favourite current excuse - COVID-19.
Get over it, most restrictions have been dropped. Your people can answer the phone.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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anon

anon

  • 9 reviews
  • 19 likes

Investing - really bad decision

published

Worst customer service experience. They made an error and have cost me a lot of money and have taken no responsibility. They won't call me - despite asking them numerous times. I wouldn't recommend opening an investment account with them.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Ben

BenSydney Surrounds, NSW

  • 5 reviews
  • 7 likes

Dismal Customer Service and Responsibility

published

Poor Customer Service, Staff are either that inept or have poor training, information was inconsistent and inaccurate, they would rather lie to you so that they don't have to deal with the problem, there is no escalation point. They refuse to let you speak with a manager. COVID super payouts were intentionally delayed, they dragged their feet to take as long as possible to pay out. And was well over the allocated 5 days paid out on day 11. 0 faith or thrust in this brand now, they cannot be trusted and do not have members best interests at heart, only the shareholders.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Jose Carrillo

Jose CarrilloSouth East Queensland, QLD

  • 9 reviews
  • 3 likes

Terrible management of assets during the covid 19 crisis.

published

A very questionable superfund. I lost almost 30% of my superannuation due to their incompetence. Fortunately for me, I am 29 yo, therefore, only lost a couple of thousands, I feel sorry for the elder people. I withdrew all my funds.

I will not recommend this superfund to anyone, under any circumstances.

Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees
Incentivised ReviewNo
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Julian

JulianPerth, WA

Absolute crap

published

Was placed with these guys by my workplace and it has been terrible. Just setting up an account is abysmal. They don't respond to emails or have a call back service, the waiting time is ridiculous. Their solution? send a bunch of mail to you until you become inundated.

Transparency
Customer Service
Rates and Fees
Incentivised ReviewNo
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Alan

AlanPerth, WA

Difficulty dealing with Colonial

published

I am finding going with these guys to be the worst decision. Have been working through setting up account with them for nearly two months, get letters for requests for information they have been supplied. Finally get it set up 3 weeks ago, still waiting for password in the mail. They had the wrong address, fixed the address, they send confirmation of change of address out to the wrong address. Have spent 45mins on the phone twice a day for the last week and cant get through. Can't wait to get access to allow me to strip my money out asap and put it down to a bad choice/experience

Incentivised ReviewNo
Jeremy Dawson

Jeremy DawsonKambah 2902, ACT

  • 2 reviews
  • 3 likes
  • Verified customer

appalling lazy unhelpful service

published
Transparency
Customer Service
Incentivised ReviewNo
Zoe

ZoeSydney, NSW

  • 2 reviews
  • 4 likes

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
Insurance Options
Income Protection
Rates and Fees
Incentivised ReviewNo
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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
Incentivised ReviewNo
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Questions & Answers

Roger W.

Roger W.asked

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

3 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.

Althom
Althom

They are not in the Top 40 and I'd doubt they'd be in the Top 100

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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