Netwealth Questions & Answers
They fake, they only want to steal from you. I didn't lose because I reported the matter to WORCONSULTD
Stay away from this so call super fund ! Hidden fees , scammers
Stay away from this so call super fund ! Scammers
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 and 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, because 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).
Like all of the others who've posted practically the same question, if you really want an answer, you need to consider your own circumstances. Are you two years away from retirement, or two decades? If close to retirement, are you going to cash out in a lump sum payment (i.e. close the account), or take regular payments (i.e. maintain the account)?
On the other hand, if you are wanting to invest with your own strategy because you are confident of choosing well (e.g. you think Japan's economy is on the rise), or because of your philosophy (e.g. you want to invest everything in environmental initiatives), then I reckon Netwealth will have more options for you to choose from, which could make it a "good choice".
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 Research, Super advanced and performance over the last three years.
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, because 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).
On the other hand, if you are wanting to invest with your own strategy because you are confident of choosing well (e.g. you think Japan's economy is on the rise), or because of your philosophy (e.g. you want to invest everything in environmental initiatives), then I reckon Netwealth will have more options for you to choose from, which could make it a "good choice".
Should I change my super from Cbus to net wealth
Is it a good idea to change my super from Cbus to Netwealth?
No, There 90/10 fund has gone backward for the last two and half years when everyone else is earning 9 %. They are paying enormous fees to your adviser, who is most likely not doing anything to ensure it is working in your favor, due to there guaranteed 1.1% commision on your total balance every year.
Stay with C-bus,
I wish I did.
cheers ed
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, because 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).
On the other hand, if you are wanting to invest with your own strategy because you are confident of choosing well (e.g. you think Japan's economy is on the rise), or because of your philosophy (e.g. you want to invest everything in environmental initiatives), then I reckon Netwealth will have more options for you to choose from, which could make it a "good choice".
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