We are in the same position as many of you. With no way to get rid of them
How do you start a royal commission ? SERIOUSLY
There is a staggering failure here
They should have been included in the financial Royal Commission
I now understand the full meaning of white collar crime after tassling with this organization for so many years! This trustee company is the worst of the worst....! The Financial Ombudsmen requires co-trustee to agree for the other trustee to be investigated. Hello! If prior to law change they are both rorting for life!
As Estate managers, I have found Perpetual to be totally inadequate.
They have been tardy with estate disbursements to say the least. After 15 months the estate is not yet finalised.
Perpetually under performing and Perpetually over charging:
Probably the worst performing Trust-Fund and the most outrageously expensive -
lucky to get 2.5% as they take huge costs- based on the total amount of your trust fund-NOT on the
income they make. They pretend to be your friend whilst taking as much as they possibly can from your trust fund- I will admit they pay your dividend on time-and give a highly detailed statement-BUT
our trust fund over 20 years has hardly increased at all and dividends have gone from 3.5% to 2.5% or less.
Lovely Christmas card from them though..ha ha
And you may try as you may to get away from their greedy clutches - good luck with that :
New Perpetual platform
After two consecutive quarters of no distributions my hopes for this new platform were not high. And I was right. To access it you need to reset your password using a link provided in an email, with a confirmation link sent to your email address to activate your logins. Simple on the face of it - but guess what, Perpetual always find a way to disappoint! No confirmation email after three attempts. So I ring them up. Hmmm, no answer after 40 minutes. So I now have no way of accessing my account at all. And of course an app version of the new platform is out of the question!
If their business model is anything like their recruitment process stay far, far away. Totally unprofessional
I was effectively headhunted by Perpetual for a role in their back office functions. Approached out of the blue with a role that I was quite interested in after discussion with their talent acquisition & asked to attend for interview. Bear in mind that I needed to travel interstate for the interview. Fast forward to interview and I am sat in a room where I am told all about the requirements & duties of the role, an information session rather than an interview, and asked 1 question through the entire process.
All sounds fine until I am contacte...
Save your family heartache and huge expenses
My Siblings and myself have been dealing with Perpetual on and off for years as my deceased parents, had them as executors of there will and trust.
Perpetual after my fathers death where keen to meet us, to try to keep our business, as a family, we had already decided that there business model was not for us.
Since then we have found them sloppy very slow and very unprofessional, in the transfer of funds and shares. There are four of us and they have managed to stuff up 3 off our transfers.
Not to mention they are outrageously expensive, w...
I know someone in perpetual due to injury. I think its not bad my friends money gets looked after so he doesnt blow it on stuff he doesnt need or shout everyone or gamble it away and end up broke with nothing left no pention no nothing. Stuff like this company are there for a reason it cause some people dont have the capacity to look after finaces as an adult and they do try their best to make it last.
Perpetual take advantage of victims that are vulnerable
My daughter was in an accident, her solicitors directed us to perpetual with not giving us the choices and advice what we can do. We directed to perpetual to manage her funds where she is given no choices and excess, now we are trying to get rid of them, and they are using all the tricks. Victims of accident are the one who lose the people that gain is these people taking advantage of victims money. We need people to come out In the public and raise awareness of how perpetual take control of vulnerable people'money to benefit them.
I've been trying to get my super transferred from Perpetual for years. On my first attempt, Perpetual informed me they did not do online transfers and I'd need to send a written request, fill out approx 6 forms, and have them all certified by a JP - by the time I got all this together, they'd cancelled my request due to inactivity. My second attempt resulted in several letters where they got my name wrong, so I couldn't transfer. By the time I had a legal letter responding to this, they'd cancelled my transfer due to inaction. I tried to transf...er again - this time they demanded I send my original birth certificate to them, and again by the time I had my lawyer write up a letter and a JP sign it to outline why this was not necessary, they'd cancelled my request due to inactivity. Last year, the Government changed the process for requesting rollovers and making it mandatory that ALL super funds submit to online transfer requests via the MyGov website. I made this request on OCTOBER 2016. Do I have my super transferred yet? Of course I don't. DO NOT use Perpetual Investments for anything if you ever want to see your money again.
Don't expect them to distribute your super if you pass away
My mother passed away almost 3 years ago. The only thing that hasn't been distributed from her estate is her superannuation from Perpetual. They have used every trick in the book to not pay out her super. We want to close the last bit of my mothers estate off so we can move on with our lives. It isn't even that much money as it wasn't her main superannuation account.
I wouldn't trust this company with my super now that I know that they will do everything and nothing to look after my family if I were to pass away.
Perpetual Trustee - why you can't trust them
After more than 2 years this company is still mis-handling my mothers estate.
They have failed to collect expenses from rental properties.
Been fined for not paying taxes.
Been fined by ASIC for not paying bills.
They have been fined for not paying fines.
Left an overdrawn account open and attracting fees and compound interest. (Knowing about it for 2 years)
Failed to end paid subscriptions, not closed bank accounts.
They have not even collected bank statements so are are unable to calculate and pay tax. (Good luck getting away with th...
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