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irefund.com.au - trail commissions refunded

Discussion in 'General Investing Discussion' started by austing, 19th Nov, 2008.

  1. austing

    austing Well-Known Member

    Joined:
    5th Jun, 2006
    Posts:
    386
    Location:
    north maleny
    Hi Gang,

    I just posted this on Sommersoft but thought some over here might be interested in it also.
    ---------------------
    I saw a story on Today Tonight about using the above to get back a significant portion of entry fees and trail commissions on insurance policies, margin loans, managed/super funds and home loans etc.

    Trailing commission: claiming it back - Today Tonight

    I'm curious if anyone here has used this service?

    Trailing Commissions - Refunds & Rebates :: Discount Fund Broker Irefund

    When my wife left her previous job she wanted continuance of her existing employer sponsered insurance policy. So we had to use a broker who did nothing more than change the existing policy over to her personal name. I think the broker gets to keep the entire first year's policy payment and a significant trailing commission each year after that. Hence I don't feel any value was added by the broker. It appears she could get a sizable refund of trailing commission each year by switching to to irefund.com.au. It appears the maximum they keep is capped to $395. Anything above that is refunded to you.

    irefund, fee for service, nil entry fees, advisor fees, fund refund, smart investors, Melbourne, Australia.

    I'm definately going to check them out as our insurance premiums each year are quite substantial.

    This type of service could certainly shake up the commission based financial planning community by the look of it. Personally I much prefer a fee for service model anyhow.

    Cheers - Gordon
     
  2. Billv

    Billv Getting there

    Joined:
    15th Jul, 2007
    Posts:
    1,796
    Location:
    Sydney, NSW
    Gordon

    Thanks for the links.

    Unfortunately my current loans are direct with the banks
    and my super and insurance are through an industry fund so unfortunately there isn't much I can get back

    cheers
     
  3. Julie Tuenre

    Julie Tuenre New Member

    Joined:
    13th Mar, 2009
    Posts:
    1
    Location:
    Penrith, NSW
    I tried these guys and they were HOPELESS. Better of sticking with those that have been around for a long time like investsmart.




     
  4. Nigel Ward

    Nigel Ward Team InvestEd

    Joined:
    10th Jun, 2005
    Posts:
    1,172
    Hi Julie and welcome to InvestEd!

    Perhaps rather than just briefly assert that a company is hopeless you could actually explain what the problems you experienced were.

    It's not really very helpful to just slam a company without explaining why you were dissatisfied with the experience of dealing with them.

    Cheers
    N
     
  5. herman M

    herman M New Member

    Joined:
    26th Mar, 2009
    Posts:
    1
    Location:
    Melbourne
    iRefund

    Hi Guys, I have started using this service since seeing it on the TV a few month ago and I have to say I am impressed. I have a number of commissions accumulating from managed funds, super accounts for both myself and my wife as well as from my life insurance policy. It is very transparent (with internet access so I can observe our commissions building) and throughout the process I was always kept informed of what was happening.

    I would recommend them (and have) to others.

    Herman Manning:)
     
  6. voigtstr

    voigtstr Well-Known Member

    Joined:
    24th Jan, 2007
    Posts:
    679
    Location:
    Hobart
    I used YourShare - Home after investsmart changed their structure.

    Got my first cheque last year. If I had more than 5k in managed funds it would possibly be more exciting :)