Where your AMP superannuation fees go ...

Discussion in 'Superannuation' started by whinfell, Apr 26, 2014.

  1. whinfell

    whinfell Well-Known Member Silver Stacker

    Joined:
    Mar 22, 2012
    Messages:
    3,327
    Likes Received:
    174
    Trophy Points:
    63
    Location:
    Australia
  2. goldpelican

    goldpelican Administrator Staff Member

    Joined:
    Jun 29, 2009
    Messages:
    17,648
    Likes Received:
    580
    Trophy Points:
    113
    Best ad ever for SMSF. I wonder if 400 SMSF trustees all put in for an overseas "professional development conference" the ATO would let it slide.
     
  3. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

    Joined:
    Jun 18, 2012
    Messages:
    4,656
    Likes Received:
    72
    Trophy Points:
    48
    Location:
    NSW
    SMSF for the win
     
  4. AngloSaxon

    AngloSaxon Active Member

    Joined:
    Oct 26, 2012
    Messages:
    1,779
    Likes Received:
    6
    Trophy Points:
    38
    Location:
    Sydney
    Finally brought a family member into our SMSF. Sent him the link just in case he had any lingering doubts about the merits of SMSF.
     
  5. aleks

    aleks Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    2,210
    Likes Received:
    27
    Trophy Points:
    48
    Location:
    Karl-Marx-Allee
    I could do with some hookers and cocaine while we are at it too...
     
  6. JulieW

    JulieW Well-Known Member Silver Stacker

    Joined:
    Oct 14, 2010
    Messages:
    13,064
    Likes Received:
    3,292
    Trophy Points:
    113
    Location:
    Australia
    Pigs.
     
  7. nonrecourse

    nonrecourse Well-Known Member

    Joined:
    Jul 11, 2011
    Messages:
    1,487
    Likes Received:
    107
    Trophy Points:
    63
    Location:
    Melbourne Australia
    ^^^^^
    Not pigs foxes hunting rabbits.

    I talk to a lot of people every day Julie. It never ceases to amaze me how many people have been ripped of by one of the retail or industry funds and switch to another at considerable expense because they go another financial (sic) planner. When I suggest that they can set up an SMSF and point them towards a self help group of people who have SMSF 's in Melbourne that will teach them how to run it themselves for the grand total of $3 at once a month meetings........

    They scurry off like the mad hatter too busy to talk.

    Kind Regards
    non recourse
     
  8. redwood

    redwood New Member

    Joined:
    Nov 22, 2013
    Messages:
    69
    Likes Received:
    0
    Trophy Points:
    0
    Location:
    Melbourne
    Nothing new there guys. All corporates have these junkets. What is shocking is that AMP is going through that word yes "transformation" cutting 20% of their workforce, many of which will be in Melbourne. Severe cost cutting hey?

    AMP has a network of over 4600 FP, most of which don't even sell AMP products, which says it all.

    This article was tough to read, however, referring to SMSFs, if you choose AMP you will be paying $3000 a year, as Non-Recourse said, why do that? AMP has gobbled up half the administrators including Cavendish in a 'mass buy', yet has resulted in poor client experiences and many clients leaving looking for another option..... like us.

    As an ex Employee of AMP, I find it disgusting that daily honest Aussies lose their jobs with these guys enjoying 'prof development' 10,000 kms away. But what do you expect, that is the corporate world. BTW anyone seen their share price of late? or their corporate super plan....how is that going?

    Financial planners will need to be a little more accountable - particularly with SMSFs no more once off charging of $6000 for a SOA....people are too smart for this!

    Rant over....

    Cheers, Ivan
     

Share This Page