Netwealth

Netwealth

Netwealth
2.8

33 reviews

PositivevsNegative
48% · 1617 · 52%

Transparency
2.8
Rates and Fees
2.1
Brand Manager for Netwealth? Claim your listing.

Reviews

33 reviews
Kevin Row
Kevin Row
 

I lost money as well

I lost money as well. I tried to withdraw some of my money, but it was useless. After filing complaints with no response, I reached out to a recovery firm that has helped some victims in similar situations to get their money back. I will be willing to share my experience with another victim. Thanks to emiliagruberr at g mail com for the recoup of my lost funds.
Janet
Janet2 posts
 

scammers! stay away from this company

They fake, they only want to steal from you. I didn't lose because I reported the matter to WORCONSULTD
Andrew
AndrewWheatbelt, WA3 posts
 

Terrible

Absolutely appalling fund , hinden fees and a huge lose of my super!
Allyson Kyla
Allyson Kyla
 

Not Real

It's really saddened to hear that these people are targeting others. I had a similar experience with them and lost so much, but i was able to recover my funds after finding information about Ww w. glowbancircuit. tecH

It's important for us all to be vigilant and to continue reporting these incidents.

John L.
John L.2 posts
 
Michael
MichaelMelbourne2 posts
 

Terrible customer service and mysterious explanations

I bought into the Multi Sector, Russel Balanced A fund in 2017. It's now 2022 - there hasn't been huge growth but there was a tidy sum of $12,840 from a $10,000 investment. I summited my Wrap Services Withdrawal form. No confirmation. I heard nothing. So I followed it up 2 weeks later. I emailed and called, they were vague, and not forthcoming when asked questions. Finally an email comes in.... to my disappointment, I was informed that the final amount to be transferred was going to $11,994. I asked why. They said there was movement in the market. Hopeless. Why did you take two weeks to process my form. Now I miss out on $846.
Transparency
Rates and Fees
Joel P.
Joel P.South East Queensland, QLD
 

15 years, and very happy

I have been managing my own super through a Netwealth super account for 15 years. Excellent range of investment options. Easy to mix your portfolio between direct shares and managed funds. Affordable way to buy big-cap US stocks (like Amazon, Apple Microsoft etc) through your super ... Fees are competitive especially for accounts 100k plus ... Easy to make extra super contibutions (BPay) or to get your employer to contribute ...
Ben N.
Ben N.Sydney, NSW
 

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.
Paul Beames
Paul BeamesPalmerston, NT3 posts
 

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!
Christian Dell
Christian DellSouth East Queensland, QLD
 

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.
Dario C.
Dario C.
  Verified
Tony H.
Tony H.Sydney, NSW
 

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.
Transparency
Rates and Fees
Rachel K.
Rachel K.Greater Melbourne (Inner), VIC2 posts
 
Satch
SatchIllawarra, NSW3 posts
 

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
Transparency
Rates and Fees
John
JohnSydney, NSW9 posts
 

Super going backwards, Poor service

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.

Questions & Answers

Janet
Janet

They fake, they only want to steal from you. I didn't lose because I reported the matter to WORCONSULTD

Andrew
Andrew  

Stay away from this so call super fund ! Hidden fees , scammers

Andrew
Andrew  

Stay away from this so call super fund ! Scammers

Fried Chicken King
Fried Chicken King

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?

Yogan V.
Yogan V.

Is it worth change super from CBus to netwealth?

Mike J
Mike J  
Fried Chicken King
Fried Chicken King  
See all Netwealth questions

Details

Extra Information

Brand Manager for Netwealth? Claim your listing.

ProductReview.com.au has affiliate partnerships. These do not influence our content moderation policies in any way, though ProductReview.com.au may earn commissions for products/services purchased via affiliate links.

©  ProductReview.com.au Pty. Ltd. All Rights Reserved. General disclaimer: All third party trademarks, images and copyrights on this page are used for the purpose of comparative advertising, criticism or review. This is a public forum presenting user opinions on selected products and businesses, and as such the views expressed do not reflect the opinion of ProductReview.com.au. Further details in the disclaimer.