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Discussion in 'Financial Planning' started by _Sharon_, 16th Jul, 2008.

  1. _Sharon_

    _Sharon_ Active Member

    Joined:
    27th Jan, 2007
    Posts:
    29
    Location:
    Qld
    Does anyone use Investsmart? If so, have you gotten their latest email regarding their changes to the Trailcap scheme?

    I think I have understood it correctly. From what I am understanding they are reducing the cap from $396 to $300 but after that you only get 50% of the balance! Working it out using my last payout figures I would be down aprox $1400!

    I have sent them an email for clarification but I was wondering if there is another online broker like them (but with a better scheme than this revised one!) that I can consider changing too.

    Thanks
    Sharon
     
  2. jrc77

    jrc77 Well-Known Member

    Joined:
    26th May, 2008
    Posts:
    147
    I have only just started using InvestSmart and too received the email today. My managed funds are currently quite low but I am about to start building them up again.

    In terms of other options, I just came across "http://www.yourshare.com.au". They rebate 50% for the first $4000 of commissions and 70% over $4000. I would be interested to see if anybody is using this?

    Regards,

    JR
     
  3. _Sharon_

    _Sharon_ Active Member

    Joined:
    27th Jan, 2007
    Posts:
    29
    Location:
    Qld
    Thanks JR. I have never heard of them before, I will have a look.
     
  4. Jess

    Jess Member

    Joined:
    22nd Jul, 2008
    Posts:
    14
    Location:
    Sydney
    Hello, my name is Jessica Shuwalow I am head of client services at InvestSMART.

    InvestSMART is owned by Fairfax Media, publisher of newspapers such as the Australian Financial Review, Sydney Morning herald and The Age.

    We understand the recent changes to our TrailCap program will negatively affect some of our clients and benefit others. However we believe the additional free products and services coming out over the next few months will more than compensate those clients that may be affected by these recent changes.

    We understand there are some new start up competitors to InvestSMART, and with all good ideas there will be similar products and services continually brought to the market. However being one of the largest in the market place, with our streamlined systems and automatic payment processes we believe we are best positioned to continue to offer investors with the best service and rebates available in the market place.

    If you do find a better rate or service please let us know, we are committed to being the best at what we do and what is available in the market place.

    Please feel free to contact me on j.shuwalow(at)investsmart.com.au or 1300 880 160 to discuss our TrailCap program.

    Thank you

    Jessica Shuwalow
    InvestSMART - Head of Client Services
     
    Last edited by a moderator: 28th Jul, 2008
  5. MasterCheif

    MasterCheif Active Member

    Joined:
    22nd Sep, 2007
    Posts:
    43
    Location:
    Melbourne
    I have had some real issues with InvestSmart.

    Since EFT moved locations on the ASX InvestSmart no longer updates their price information. I informed InvestSmart of this about a month ago and they still havnt resolved this. (e.g. STW & SLF are priced at last months prices).

    Also some how I have a negative trail cap becuase of some mistake they made with my fund. They are still also yet to resolve this and it has been around 4 weeks. Very slow turn around on any questions, queries or comments.
     
  6. Jess

    Jess Member

    Joined:
    22nd Jul, 2008
    Posts:
    14
    Location:
    Sydney
    Dear MasterCheif

    Please be advised that I have contacted our data provider regarding the prices for STW and SLF to find out why the prices are not being updated. So hopefully we will have this corrected shortly.

    When did you join the TrailCap program? If you can provide me with your name or email address I can have a look at your account for you to see what the problem is. Feel free to email me on j.shuwalow(at)investsmart.com.au.

    Yours sincerely

    Jessica Shuwalow
     
  7. aog

    aog New Member

    Joined:
    4th Aug, 2008
    Posts:
    3
    Location:
    Melbourne
    Even better

    There is another group i have come accross called iRefund. It seems as though they will refund 50% for the first $795 of the commissions and then 100% of the rest. irefund.com. au.

    I'm going there as it appears to be the best deal.

    All the best
    AOG

     
  8. Jess

    Jess Member

    Joined:
    22nd Jul, 2008
    Posts:
    14
    Location:
    Sydney
    Dear AOG

    Please be advised that if you do find a better rate or service please let us know, we are committed to being the best at what we do and what is available in the market place.

    Yours sincerely

    Jessica Shuwalow
     
  9. crc_error

    crc_error The Rule of 72

    Joined:
    1st May, 2007
    Posts:
    1,367
    Location:
    Melbourne, VIC
    I would like a scheme which refunds income/trauma/tpd/life insurance comissions as they can be as high as 40% of your premium.. refunds on managed funds is negligable unless you have large numbers invested.
     
  10. Jess

    Jess Member

    Joined:
    22nd Jul, 2008
    Posts:
    14
    Location:
    Sydney
    To whom it may concern

    If you have an existing insurance policy that was set up by a financial adviser then they have probably already taken the commission as a full upfront and there are no longer any on-going adviser commissions.

    However if you are looking at setting up a new insurance policy for income/trauma/tpd/life, then you may just want to do a bit of shopping around to see who can offer the lowest commission or ever rebate a proportion of the commissions to lower your premium.

    Unfortunately InvestSMART no longer deals with Life insurance so I am unable to assist you with reduced insurance commission rate.

    Good luck!

    Jessica Shuwalow
     
  11. debaron

    debaron Member

    Joined:
    21st Jul, 2008
    Posts:
    5
    Location:
    qld
    interesting.
    I've looked into InvestSmart heavily last year but ended joining someone else. Would be great if InvestSmart could provide an online buy sell system that doesnt need to go through phone calls/emails/letters.
    that was my understanding of their system, anyone knows if that has changed?

    Cheers,
    Debbie
    OurFinanceBlogs team
     
  12. crc_error

    crc_error The Rule of 72

    Joined:
    1st May, 2007
    Posts:
    1,367
    Location:
    Melbourne, VIC
    try netwealth, you do everything online, no paper work.. and they rebate trailing comissions as well..
     
  13. Jess

    Jess Member

    Joined:
    22nd Jul, 2008
    Posts:
    14
    Location:
    Sydney
    Dear Debbie

    It sounds like you are looking for a Wrap or Master Trust account. We do offer several Wrap facilities such as BT Wrap, Macquarie and even Netwealth and then you could also try a Master Trust product like Colonial FirstChoice, Perpetual Wealth Focus Investments, Skandia and more.

    With a Wrap account you can choose from about 100+ managed funds and 100+ listed securities/shares.

    Master Trust only provide managed funds about will have about 50-80 different investment options to choose from.

    So you obviously don't have has many choices or control of your investments as you do when you invest directly with each fund manager, but it does make buying and selling funds easier if that's what you are looking for.

    However if you are looking for simply a share trading platform, we now offer CMC Markets as a trading platform at InvestSMART.

    Cheers

    Jessica Shuwalow
    InvestSMART