Bunch of Scammers!
A couple of years back, my wife and I were given a supposedly ‘free’ consultation with NSG as a promo with our tax returns. I was reluctant to attend - as I knew we weren’t really in a position to join the share market/climb the property ladder – but the missus insisted they could at least consolidate my super (something I’d been meaning to do for years); so I figured I’d grit my teeth and tag along.
Much of the hour was spent listening to some clown, who continually tried hard-selling us apartments we couldn’t afford. After finally taking no for an answer, he turned his attention to my superannuation.
He claimed that – due to the risky nature of my work – there were only a limited number of ‘product providers’ who would be willing to offer insurance in conjunction with my super. Apparently, I would be required obtain insurance through a third party provider (one with highly exorbitant premiums). This was an outright lie. Now, unbeknownst to me at the time, the ‘adviser’s’ commissions were/are paid in direct correlation to the amount of the fees, premiums, etc. Despite being repeatedly told their services were free of charge. Of course this information is not provided at the time of the actual consultation..
I’ve since discovered that he cancelled the already inclusive (and cheap) insurance plan which came standard with the allocated super fund, before signing me up for insurance through - not one but two - third party providers (presumably his mates?) who charge roughly 5 times the norm.
To make matters worse, this con artist subsequently attached a 48 ‘statement of advice’ to a copy of the single page authorisation letter - the one I’d signed permitting him to act on my behalf. This authorisation letter was not numbered and had obviously been attached to the other paperwork (which conveniently outlined his commissions, etc) at a later date.
Anyway, all this came to my attention when the super company recently contacted me to advise there would be a 'rollover' of funds (that amounted to approximately 1/3 of my contributions for the past 2 years) to the new insurance provider and that, due to previous authorisation, there was nothing I could do to stop this. These funds have now vanished, largely due to ridiculously high insurance premiums and the so-called ‘referral source’s’ commission, as well as the plethora of commissions charged by NSG Pty Ltd.
So far they just keep claiming it’s my fault, as they’d expected me to read over the massive legal document – sent after the fact - and contact them if I had any problems.
What can I say..? I knew they’d take their pound of flesh one way or another. I just assumed the commissions would be paid by the companies receiving new business... Not by the clients they’re purporting to assist!!
Disgraceful customer service. Allowed life insurance policy to lapse. No response to email.
National Sterling allowed my husband’s life insurance policy and TPD insurance to lapse and we found out by accident when the insurer contacted us to check my address for my policy, as the one they had been provided with was returned to sender. It turns out NS had not bothered to update our address or my husband’s phone number with the insurer and then ignored letters and emails sent advising the policy was due for renewal and in danger of lapsing (which it did eventually).
Thank goodness we discovered the issue by accident rather than in a case of something having happened to my husband leaving our family with no protection.
To make matters worse, due to a recent medical query he was then unable to get full insurance for a period and once we did the premium had doubled. Had we had the continued cover that National Stering were being paid to provide that would not have been the case.
To add insult to injury, they did not even bother to respond or follow up once they were aware of the issue. Absolutely disgusting. Stay far, far away!!
Apartsments - Not a good retirment investment .....
Hindsight is wonderful as we all know!! Unhappily we were introduced to NS to assist with our financial future, which now turns out to be a disaster. We invested our hard earned super into an apartment in Brunswick 7 years ago which is still worth about $150k less that what we paid for it. They also managed to talk us in to another one in Altona with an interest only loan, this one is also worth over $100k less than what we paid for it 5 years ago. We did all this on the promise from the advisor that as real estate had doubled in the 10 years prior to us signing up, we could expect that to happen again. So instead of having a healthy and growing super fund, we now have a reducing fund.
NS talked us into a self managed fund and set that up at a cost of $20k which we now know was an absolute rip off, they also charged us $5k for a loan repayment calculator which we were told by Tom Maloney that we had to have.
Instead of being able to retire at 60, we will have to work another 15 years past that to recoup our losses and pay off the debt which National Sterling got us in to.
We are sure that other people will be in the same boat. Perhaps a class action looms.....
Horrid customer service
Never experienced a more horrible lack of service than from here. Was promised return calls & never received a single one. Always chasing. Business going elsewhere.
Customer Service = Customer Satisfaction!
During the course of this month I have on a number of occasions, emailed your office and in particular, one of your service representatives in relation to an incorrectly paid Insurance Premium to AMP dating back to December 2015.
Your representative continually kept me informed via email of her outgoing instructions, questions and on my behalf, suggested enforcement actions to ensure prompt remedial action - needless to say the matter has been resolved favourably.
Such high calibre service deserves equal recognition. Therefore, abiding to your request not to provide personal details is reluctantly accepted!
Absolute life savers - saved me so much time organising my super & insurances through Macquarie.
I was paying so much for my insurances, National Sterling showed me how much money I could save moving my insurances,
thanks guys, saved me so much money
what a great help these guys have been, saved me so much money on me super and insurances.
other companies were ripping me off for years and I had no idea - thanks guys
National Sterling helped us refinance to a rocket repay loan, The process was easy. Very happy with the outcome.
Since using National Sterling I have found that they always keep me the member in the know with how things are going and about any changes. I have nothing but praise for the way this company operates for their members.
set for the rest of my retired life.
I was contacted by Ferris from national sterling, he came to my house and he explained everything to me about my super and retirement. I am very happy .
excellent customer service
thank you for such excellent customer service and explaining what it all means. The Rep from National Sterling made it very easy to understand and the process was smooth and not forced. Thank you
Appreciate the professional service!
Very happy to be dealing with a Melbourne based company that I could physically visit and speak to without making an appointment - rare these days. They ask questions and listen as opposed to the other selling machines out there. My last minute requests was handled professionally. I have referred NS to my family and friends as promised!
Really valuable help and advice
Really happy with the service provided by National Sterling. Helped set up income and life insurances that correspond to my families financial position and goals.
Great advice and future planning
National Sterling have been great!
Helping me to piece together a plan to get my super to where it needs to be so that I can retire happy- have recommended to all my friends!
Have consolidated all my super funds into the one and organised insurance cover so that if anything happens to me, it doesn't effect my family.
Glad I took up offer of appointment. First time ever I thought about super and income protection and life insurance and what it means. Vince is a great bloke who explained it all and I'm really happy with the work he's done for me. Look forward to working with him again.
I first saw a National Sterling advisor 6 years ago and they sorted out my super and insurance - which at the time wasn't doing well. I have received regular reviews and updates from them over the years and their advice has always been relevant to my situation and goals - from single and carefree to married with a mortgage. Their customer service has always been fantastic.
my rock when i was in a tough place
Recently I was let go of my job at one of the major supermarket chains (I wont name them here). I was there for a over 16 years full time and they restructured my job out of the store I was at. I was at a loss as to what to do but I had been a client of National Sterling's for a long time and call on a whim to see what I should do now with my Mortgages and investments now that I had no job. I knew they couldn't offer me much assistance finding a new job but was pleasantly surprised to receive so much assistance. They helped me locate some employment legal advice, sent me the links to fair work so I could get some free advice and even helped me find a way to update my resume. We then restructured my finances as best as we could to make sure I kept making the repayments while looking for a new full time job. My daughter ended up updating her resume at the same time using sites they had found for me and it was all for free. They really went above and beyond for us even though really there was nothing new in it for them. I will continue to support this business for a very long time as they have supported me in this really tough time. I
Excellent Service and help- Vince was a gent! Highly recommend! Feel like everything is sorted out for the future! Feel looked after!
Very Disappointed At The Lack Of Communication
We have had 2 consultants come out and promise that our refinance would be quick and easy. 1st consultant left the company which delayed the refinancing, people when on holidays and then on long service leave and no one though to let us know what was happening. 3 months later, I still have to make a phone call to ask what's happening and still no answer as to when settlement will be finalized. How hard is it to let your customers know. Very disappointing!!
The service provided so far is good. The two consultants I have worked with since I signed up are professional and have provided me sufficient information on my super.
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