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Netwealth
Scam company!
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.
Very slow, poor service, not sophisticated
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.
- 3 reviews
- 3 likes
Terrible service,
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!
Excellent Investment options
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.
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- Verified
Horrible Experience All Around Lost Money & Customer Service Is Bad
During my Time with them, not only did I lose a lot of money but also got ripped off by their high fees, when I only had a bit over $800 left on my account, they charged me during 1 year over $250 on Fees alone to manage my Funds, what a ripp off. I requested back in September 2020 to close my Account and get my funds transferred, but no response from their Customer Support, now in July 21 after I got another Report and saw the high Fees I requested it once more.
I sent them back, the withdraw form with my digital signature, and everything fi...
Read morelled in, they refused to process it because it didn't had my hand signature, so I had to do it all over again. Frustrating experience, would not recommend them and to be honest I will never in my lifetime invest my hard earned money with them!Slow innervation and expensive.
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.
- 2 reviews
- 1 like
An excellent super platform for a computer literate user without an advisor
I have been using Netwealth since 2007, first for a personal account, and subsequently for my super Accumulation fund, and now it has been turned into a Pension account. I found Netwealth fees very competitive (I am entitled to a family deduction since my husband is also a member, in addition we both went to Netwealth directly and are not using an advisor). I am not buying shares, but am very happy using Morningstar research available to select retail or wholesale funds to buy/sell. I take full responsibility for my choices and have done pretty...
Read more well. I decided to write a review because I noticed a lot of negative reviews complaining about fees (I suggest please check how much your advisor is charging continuously and at least don’t blame Netwealth for their fees) and about performance (again, your advisor may not be doing a good job, or you are not being proactive enough). Also, my personal experience through the years has been that their operators and management have been very responsive if I ever had a problem with the platform, service or an issue that the Call Center could not resolve.Related Articles
- 2 reviews
Rubbish and after today a $1268 that didn't alter in price on the ASX shows a $268 loss Fees?
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
- 3 reviews
- 9 likes
Super going backwards
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.
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A Superior Superfund that has given me Huge Returns
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.
- 3 reviews
- 3 likes
Netwealth Experience
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.
Bad communication
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.
Find out how Netwealth compares to other Forex & Share Trading Platforms
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Best Investment Decision I have made moving to the Netwealth
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.
Exceptional Platform
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.
- 20 reviews
- 11 likes
An outstanding place to invest my super
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.
Questions & Answers
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?
Is it worth change super from CBus to netwealth?
Generally the cost is likely to be higher however the number of investment options will be higher also.You should use a financial adviser to guide you where they will consider your specific situation ...
Read moreand the costs and benefits of a change. You may also lose insurance benefits if you change.Seek expert advice on this relevant to your specific situation.It depends on your needs & preferences!
If you are in the default 'balanced' C-bus option and plan to shift to a default 'balanced' option with Netwealth, then no, it's absolutely not a good idea, ...
Read morebecause your investment will be similar, but the for-profit Netwealth can be expected to take out higher fees (especially if you pay for an advisor, although that might not be required).Should I change my super from Cbus to netwealth
I did. I think the potential returns are much higher with the smaller Managed Funds than Cbus. Cbus only made < 1% last year when some of the funds made nearly 50%
Speaks for itself. Check out Rese...
It depends on your needs & preferences!
If you are in the default 'balanced' C-bus option and plan to shift to a default 'balanced' option with Netwealth, then no, it's absolutely not a good idea, ...
Read morebecause your investment will be similar, but the for-profit Netwealth can be expected to take out higher fees (especially if you pay for an advisor, although that might not be required).Get an answer from our members
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