Netwealth

I have had a number of accounts with Netwealth since before my retirement. I was recommended in the years before COVID, to a financial advisor by a long standing friend, who setup a plan for my retirement. He used Netwealth as the provider for both my wife and my own superannuation accounts, and explained the benefits of Netwealth as having most… Read more

of the benefits of a Self Managed Super Fund, without most of the compliance and administration requirements and costs. Yes, there are fees and charges, but these are competitive and far less cost and compliance issues than a SMSF. We have investments across a broad range of Australian and International shares and investment funds. Since retiring, we have been very pleased with our returns and even our financial advisor has retired (even younger than me) and I now manage the funds myself. Very useful web site management systems, great reporting and communication. I have never had an issue and could not recommend them more highly. Thank you Netwealth and all your team. PS I was using Netwealth when they listed on the ASX, and have benefited from buying shares when they listed, plus the great dividends and capital growth since.

This organization has the worst back office administration. No action taken on off market transfer. They makeup the requirements as they go along. Needed to escalate to get any response.

My advice is to stay away, if a financial advisor recommends this you probably should stay away from that financial advisor as well. They prepare their tax statements slow slowly, it can take until the end of October until you get it. So you just have to put your tax on hold.

I have been with net wealth for two years now. They have made the transition to retirement a trouble free road to tred. Having endured the market ‘correction’ after the US election when my finger was poised over the panic button , Josh and the team at have been reassuring and more importantly accurate in all the advice they given. I would recommend them based on my expierience with them .

Competent platform at a reasonable price with good personal customer service – I selected Netwealth several years ago as the administration service for my family's investment and superannuation needs. Netwealth has reasonable fees including a very low cost Core offering, and I could use it without needing a Financial Planner. The investment choices are good quality and varied and we have had good investment results. Customer… Read more

service has also been good - they answer quickly, and each time my inquiry has been resolved on the first call. The on line portal is 'no frills' but enables detailed reporting and easy transactions. I would recommend Netwealth to any body with a reasonable IQ and commonsense.

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 ...

Useless if you want to manage your own investments – If you want to manage your own super investments then Netwealth is useless. For the vast majority of shares they only allow you to invest maximum 5% of your super balance in an individual share, including many funds that have a very diversified portfolio of underlying holdings, so there effectively is no concentration risk. I am disgusted by this… Read more

ridiculous restriction enforced upon an experienced investor. Also, their transaction fees are very high and if you can invest only small amounts in particular shares then this will negatively impact your yield.

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.

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.

Slow, hidden fees, confusing platform – My advisor was using netwealth as the platform to record my share transactions, I found the platform confusing, almost deliberately so . All the share dividends go into your netwealth account then they start deducting fees such as brokerage, admin, stamp duty, transferr out fees, advise fees then if you're lucky some months later you may see… Read more

pittance of your money deposited into your account , but only after numerous phone calls to your advisor. Its never really clear exactly what has gone on they dont send any documentation of how much the dividend was and how your portion was calculated, they never send you any hard copy confirmation of what you have purchased, such as a CHESS statement. I would avoid this company at all costs. The final kick in the butt was the $850 transferr out fee when got wise and got out.

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… Read more

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.

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… Read more

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.

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.

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… Read more

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 filled 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 – Netwealth Super is expensive. Looking at the hidden fees, in my case purchasing US stocks, Netwealth was taking around 5% pa in fees for the amount invested. FX costs are brutal, with a T+2 penalty, as each transaction returns to AUD. The reports are excellent, rest of the platform is rubbish. Maybe good if trading ASX only, set and forget,… Read more

which is not typical for a wrap service client. Help desk play the game of appearing to be helpful, but not...If you have to ever call support, there is something wrong with the product. To improve...provide stop losses, allow for a US $$ wallet to reduce FX costs, reduce brokerage prices, improve the UI and boot the do nothing attitude off the help desk staff/management...just moved to Stake..costs appear to be around 8% of what Netwealth are charging.

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… Read more

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 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.

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  Show details

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.

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… Read more

help from my financial advisor. This would not have been possible with the returns from my former industry super.

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. Show details

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.

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… Read more

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.

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.

Super Accelerator Plus without the words "Accelerator" or "Plus" – Listen to the barefoot investor and go for lower fees and fewer bells and whistles. The performance was disastrous, the cost was high and I wasted 2 years going backward. My financial advisor put me onto them and to be honest I would have been far better off staying where I was. A definite learning experience and only helped to reinforce in me… Read more

why I don't use a financial advisor for the most part, as they always seem to have their own agenda, especially when it comes to where to put your Super.

WARNING DO NOT USE NETWEALTH – My experience has not been positive. I recently lost my Mum and she had only invested in Netwealth around 6 months before she died. As executor of the estate I tried to contact them to get the investment secured into cash in these uncertain Covid times. I was unable to speak to a representative. I asked for a name of the person who handled that… Read more

area and they would not give this to me.

Instructions as an executor was given to convert to cash but the instructions were ignored. It upset me this poor customer service. My parents worked hard to build up their super and it appeared Netwealth was unable to give me the time of day to address the changed needs due to the death of a loved one.

I did not find this satisfactory and infact found the approach unprofessional. After all it is not there monies. My overall experience was very poor. Michelle

Very easy to use – Offers almost all the investment options I need. I can even own direct equities if I wish. There service is pretty good at the call center level and have been much better than my last super fund over at Hostplus where I was lucky to get anyone to even pick up the phone. Compare what pair I say.

Poor communication and slow application process – I signed up with Netwealth for a Super Accelerator Plus account late last year. It has been more than a week since I submitted all my documentation - and they still haven't set up my account despite following up the application several times. The communication from Netwealth has not been forthcoming. Netwealth has sent me incorrect emails (I… Read more

believe intended for other people), and the staff are unable to provide any real information when I call (standard/unhelpful information). This level of service is not acceptable for a company I intend to hold my super through.