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Netwealth

Netwealth

3.1 from 27 reviews · View Statistics
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Reviews

3.1
27 reviews
  • Transparency
    3.1 (17)
  • Rates and Fees
    2.4 (11)
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Andrew P.
Andrew P.Perth, WA

Scam company!

published

Really terrible service! In 6 months they lost $12000 of my super. Checked a day later and another $300 lost! Do Not give them your money! They will not call you back.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Ben N.
Ben N.Sydney, NSW

Very slow, poor service, not sophisticated

published

Netwealth Super Accelerator Plus is a very basic platform that allows you to buy assets in some but not all markets. Not they are governed by restrictions on the amount of certain assets you can buy. Ie if outside asx 300 max 5% position and total of 30% of positions in this asset class.
The reporting is good but not a lot else. Some basic things like being able to set buy and sell prices on overseas assets cant be done on this platform.
To get anything done is very, very slow, they do not have enough staff to facilitate requests.
Multiple people I know who have tried to sign up have never been responded to.
Okay if you are starting out, but I have had to move to a proper SMSF on another platform.

Incentivised Review No
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Paul Beames
Paul BeamesPalmerston, NT
  • 3 reviews
  • 3 likes

Terrible service,

published

Wife retired in first week of September, transferred her Super to Netwealth for an income stream, its nearly Christmas and we havent heard a thing nor received any income stream.Our adviser is not replying to emails nor calls! Mine is also in netwealth and any return is eaten up by the over exhorbitant fees!

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Christian Dell
Christian DellSouth East Queensland, QLD

Excellent Investment options

published

So much more investment options than industry funds. Really good customer service, don't have to wait long to get someone on the phone. You can customise your portfolio much more than other funds.

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
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  • Verified

Horrible Experience All Around Lost Money & Customer Service Is Bad

published
Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Tony H.
Tony H.Sydney, NSW

Slow innervation and expensive.

published

Price data for shares / ETFS in the wrap service requires a third party product like Comsec to strike a price, as the provided data is out-of-date, in addition to being expensive to trade. Portfolio valuation seems to be updated every 24 hours. This is fine for funds, but as ETF are becoming popular, price difference during the day can be significant.

Transparency
4/5
Rates and Fees
2/5
Incentivised Review No
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Rachel K.
Rachel K.Greater Melbourne (Inner), VIC
  • 2 reviews
  • 1 like

An excellent super platform for a computer literate user without an advisor

published
Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
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Satch
SatchIllawarra, NSW
  • 2 reviews

Rubbish and after today a $1268 that didn't alter in price on the ASX shows a $268 loss Fees?

published

Fees are ridiculous. Do advisor's make commissions?
Can't choose even from their own list of NASDAQ approved why have a list of approved investment's at all if you can't select from them.
Extremely limited

Transparency
2/5
Rates and Fees
3/5
Incentivised Review No
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John
JohnSydney, NSW
  • 3 reviews
  • 9 likes

Super going backwards

published

I put my super in a Netwealth and in the last 11 months it has had no growth, it has gone backwards because of high fees.
Time to move my money back to my industry Super fund.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
Similar opinion? Write a review on ProductReview.com.au!
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A Superior Superfund that has given me Huge Returns

published

All cards on the table I had never heard of the Netwealth as I was not fully educated on my Super. Until being recommended by my Financial Advisor, however, going from my industry fund to them was a choice I truly am grateful for. The investment options I am able to have access to have made me reach the $1 million mark in just 5 years with the help from my financial advisor. This would not have been possible with the returns from my former industry super.

Transparency
5/5
Rates and Fees
5/5
Incentivised Review No
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anthonycrosby
anthonycrosbyHunter Region, NSW
  • 3 reviews
  • 3 likes

Netwealth Experience

published

If my super grew as quickly as my fees (5% per annum) I would be delighted. Ultimately my Netwealth super had high fees and did not perform as well as a low fee industry super fund. I struggled with the lack of transparency of the fund's performance: they refused to benchmark the performance against other funds.

Transparency
2/5
Rates and Fees
1/5
Incentivised Review No
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Clinton Steele
Clinton SteeleSouth East Queensland, QLD

Bad communication

published

Net wealth contacted a financial advisor with important information about my super. 3 years prior I contacted Net Wealth to let them know I was no longer using this financial advisor. Consequently a large sum of money was transferred from my super without my knowing until it was done.

Transparency
1/5
Rates and Fees
1/5
Incentivised Review No
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Forex & Share Trading Platforms

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Best Investment Decision I have made moving to the Netwealth

published

I was initially unsure about the Netwealth as I had not heard of it before, as it is an Index Fund and advisor product meaning it's not accessible to industry workers and was recommended by my Advisor 2 years ago.

I took the leap of faith moving from my industry super and honestly have seen more growth and returns on my super than ever before. I can honestly say I am excited about the future which was not a feeling I felt when getting my annual statement's in the past.
The fund has a lot more options in what I am able to invest in and with my advisors managing my portfolio, I am confident that not only will I be able to retire earlier, but I will have enough extra to afford a deposit for an investment property for my children.

Transparency
5/5
Incentivised Review No
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Emma Callister
Emma CallisterSouth East Queensland, QLD

Exceptional Platform

published

I have been with the Netwealth Accelerator Plus for the past year, since moving to them with the help of my advisors investment strategy I have seen my returns reach 13% which is way over double what it was getting in previous years. The app is really easy to use also and lets me see each of my investment asset allocation and performance in real time.
I feel for the first time my super is getting the conscious growth it needs.

Transparency
5/5
Incentivised Review No
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PHM
PHMBrighton
  • 20 reviews
  • 11 likes

An outstanding place to invest my super

published

I moved my super over to netwealth over 20 years ago. I make my own investment decisions and the company looks after the paperwork. It offers a wide range of funds and I have been able to maximise my investment strategy with it. Changing funds is easy and I have not had a single issue with the company. You can invest in shares also. I cannot speak highly enough about netwealth.

Transparency
5/5
Incentivised Review No
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Questions & Answers

Fried Chicken King
Fried Chicken Kingasked

My comment/question follows Josh M's review from 2 years ago, who wrote under "Poor communication and slow application process":
"the staff are unable to provide any real information when I call (standard/unhelpful information)".

I called (Feb. 2022) to enquire about what forms are needed to open an investment account [not superannuation]. (It's fairly complicated: in my case I'm pretty sure I would submit 4 forms: application form [req'd], identification form [req'd], direct debit [optional], investment instruction [optional].) Even though there is an identification form on their website, and even though their application guide (which is actually pretty thorough, ...and loooong) says that an identification form must be submitted, the staff member / call centre person I spoke to claimed that I just needed to send them a copy of my ID, and no such "form" was required! I'm pretty sure that advice was wrong, which is pretty surprising on such a simple & common matter.
Anyone else have experience with this?

No answers
Yogan V.
Yogan V.asked

Is it worth change super from CBus to netwealth?

2 answers
Mike J
Mike J
Fried Chicken King
Fried Chicken King
Craigc
Craigcasked

Should I change my super from Cbus to netwealth

2 answers
Aarron W.
Aarron W.
Fried Chicken King
Fried Chicken King
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