2Suncorp WealthSmart

Suncorp WealthSmart

 Verified
2Suncorp WealthSmart
1.5

17 reviews

PositivevsNegative
6% · 115 · 88%

Transparency
2.4
Customer Service
2.7
Insurance Options
1.0
Income Protection
1.0
Rates and Fees
2.2

Reviews

17 reviews
Sandra ATKINSON
Sandra ATKINSONSouth East Queensland, QLD4 posts
 
Jimmy Jay
Jimmy JayAU55 posts
 

Perfect

My wife is currently suffering from lung and brain cancer I am her carer but unfortunately I am in hospital with Covid. Our medical bills are horrendous. When I spoke to the staff re a withdrawal from my super she could not have more helpful. Even when I rang asking for help on how to fill out the withdrawal form was very helpful. My withdrawal went through within a week. I cannot thank Suncorp Super enough
John C
John CLower Portland10 posts
 
Transparency
Customer Service
Rates and Fees
John C
John C  
More
Mia
Mia
 

Exorbitant insurance fees

In recent times I received a letter from this Super fund to inform me of increased insurance fees For Life and TPD insurance. Life insurance monthly fee was $79.36 and as of February 2020 has increased to $185.39! TPD was $100.64 per month and now is $232.94! This is more than 100% increase. How can they possibly justify such a massive increase? I was told it's due to their claim costs increasing.
Customer Service
shadako
shadako2 posts
 

Bad experience overall

I was a Suncorp employee in 2010. So my employee super was changed to brighter super in 2016 or so? Suncorp had a great return that year. However, when Brighter Super was created, there was additional fees that reduced this return. I've only learned about the high admin fees through this page lol. Assumed most supers would be the same. I also wanted to remove the insurance and my first letter "went missing". Does happen, but also a bit strange. Querying my super amounts as well, either it got eaten in fees or change over amount is wrong...
Transparency
Customer Service
Insurance Options
Income Protection
Rates and Fees
Roger
RogerMetropolitan Adelaide, SA8 posts
 

Don't bother with Suncorp Super - the only balance change are fees

After 12+ months with Suncorp Superannuation, i received one increase of a few dollars, and all the other transactions have been monthly admin fees and levies. They are not even performing a small fraction as well as bank account interest - even at today's appallingly low rates - which shows how bad Suncorp Superannuation is.
Customer Service
Rates and Fees
Elisha Y.
Elisha Y.South East Queensland, QLD2 posts
 
Leah
Leah
 

Suncorp wealthsmart - you’ve lost me

I used to have great confidence in all Suncorp products, not any more. I cannot access my account online, 3 hrs & 4 phone calls to their customer service people trying sort it out I had to request they email & post hard copy statement. I then discover they’ve been charging $100 a month in ‘Admin fees’ on a 90K balance. There is no insurance. I’m now in the process of rolling into another fund. Now they’re txting me to say I have mail- go online to access! Computer says no!

Puss-cat
Puss-catWestern Australia, 643022 posts
  Verified
LCob
LCobSydney, NSW8 posts
 
Paulie
Paulie
 

Death and suncorp

This is off topic but Suncorp are disgraceful. Suncorp super are paying my deceased brothers superaunnuation to a person he hasn't seen for 10 years against his wishes. How bad when you are no longer here and your wishes are disrespected. Shame on you Suncorp! I can no longer watch Suncorp netball and will make it my life mission to change this!

Louise
Louise7 posts
 

Issues since they moved Suncorp wealthsmart account to brighter super

Since Suncorp moved all existing wealthsmart super accounts to brighter super- I am no longer able to access my account online. I followed the instructions in the letter to reset abs I constantly get errors when proceeding to login screen. Phone support not able to help! Expensive for a basic product

Ellen Stewart
Ellen Stewart
 

Stay Away From This Super Fund

I went into TTR phase with this mob 18 months ago with $207,000. My balance has dropped to $200,000 and all I've had is $600 per month for 18 months. This equates to less than bank interest. Now they've changed it over to Superbright super and charging

more fees to be in line with other super they say.

I'm looking for a new super fund or start my own and put my share portfolio and super together.

Rob Franks
Rob Franks
 

Huge fees

I was with WealthSmart for about 10 years, the returns on my investment were, well below par, but that didn't stop Suncorp from taking around $700.00 per year in fees, and that is just in fees no insurance premiums...

WealthSmart have now changed their name to Brighter Super...Same Leopard different spots...

Given Suncorps lack care and support I have now changed super companies and the change speaks for itself....

PS....Suncorp is a retail fund, their main objective us to maximize profit...

I am now with a not for profit fund huge difference...

Rock
RockSouth East Queensland, QLD
 

Non existent support

My mother passed away in early May this year leaving her remaining superannuation to myself and my sisters. Application was made to have the funds transferred at the end of May to assist us in paying for funeral costs etc.

After four lots of communication including one phone call (you cannot speak to anyone from wealth smart as they can't be contacted directly, you must go through the bank); we finally received the paperwork.

This was signed three weeks ago with our solicitor and we are still waiting for the funds. In the meantime I'm sure WealthSmart are cashing in on the interest of the estate.

Would not recommend this company to anyone and I'm making sure I'm telling as many people as I can about them.

Questions & Answers

Bob S.
Bob S.

Can I check to see if I have any super with Suncorp Wealth Smart Personal Super

Bob S.
Bob S.  

Also my wife Colleen Slade

John C
John C  

I have no idea. You would be better off asking Suncorp.
I reviewed them as a customer. I don't work for them.

Details

Contact info for Suncorp WealthSmart

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