Join our investing community

Netwealth

Discussion in 'Superannuation, SMSF & Personal Insurance' started by Kimrida66, 28th Mar, 2017.

  1. Kimrida66

    Kimrida66 New Member

    Joined:
    28th Mar, 2017
    Posts:
    2
    Location:
    Perth
    hi does anyone know about transfer of super funds to netwealth ?? 5000 set up fee and 2 percent annually paid monthly ?? Got sent a statement of advice ?? I have TDP and death payment in other fund. Don't want to lose that
    They are wholesale super people?? Whatever that means at present my super in 5 different places going backwards thanks Kim
     
  2. hobo

    hobo Moderator Staff Member

    Joined:
    12th Dec, 2012
    Posts:
    17
    Location:
    FNQ
    Why is it in five different places??

    At the very least you should consolidate all your little super accounts into one (perhaps into the fund where your insurance is currently held?). If you've been sent a Statement of Advice then you are paying for financial advice. How did you come across these people??
     
  3. Kimrida66

    Kimrida66 New Member

    Joined:
    28th Mar, 2017
    Posts:
    2
    Location:
    Perth
    I answered a questionnaire on internet to find lost super
     
  4. hobo

    hobo Moderator Staff Member

    Joined:
    12th Dec, 2012
    Posts:
    17
    Location:
    FNQ
    Ah, ok. So they've now contacted you and offered this service / financial advice? Or did you also ask them for advice, perhaps even just by ticking a box, maybe?

    If you go to Searching for lost super then you can download a form to complete and ATO will search for any "lost" super accounts you might have (for free). Then you would need to decide which super fund you wanted to use as your main one, and roll all of the others in to that one. That will mean filling out a couple of forms but shouldn't cost you anything.

    I don't know anything about Netwealth specifically so can't comment on them.
     
  5. dfp4struggler

    dfp4struggler New Member

    Joined:
    31st Aug, 2014
    Posts:
    1
    Location:
    Sydney,NSW
    Netwealth fees are nothing like that. Check their website. If you have an SOA, then it must be financial advice you are receiving. The adviser is adding a fee to the Netwealth fees. If you haven't met anyone and you just filled out a form on a website, I would stay well clear of them. If you are looking to consolidate your super (which is probably a good idea), you should contact the fund(s) you want to keep and they will help you rollover the other funds.
     
  6. michael

    michael New Member

    Joined:
    5th Jun, 2018
    Posts:
    2
    Location:
    melbourne
    Kimrida66 these are fees charged by the adviser and not by Netwealth. I am the MD of Netwealth. we are keen to ensure clients are treated fairly and would be grateful if you could advise me who the adviser is so that I can review the matter. You can email me at [email protected] thanks very much.
     
    Hosko and twisted strategies like this.