# Netwealth?



## esolano (24 June 2009)

Anyone familiar with *netwealth* or has any experience using their service. Seems very cheap compared to other online brokers. I think something like $17.99 per trade.

I'm currently with Westpac Broking which has been good so far but I would like to explore other options(online brokers).


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## prawn_86 (24 June 2009)

*Re: netwealth*

I use Netwealth.

Cant complain really, only problem is you dont get live watchlists unless you pay more.

Always execute the orders, never had any problems, always helpful IT staff when i forget various passwords


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## YELNATS (24 June 2009)

*Re: netwealth*



prawn_86 said:


> I use Netwealth.
> 
> Cant complain really, only problem is you dont get live watchlists unless you pay more.
> 
> Always execute the orders, never had any problems, always helpful IT staff when i forget various passwords




I've used netwealth for years and always found them pretty good. 

I have a $25,000 credit limit and get T+3 settlements for the 200 top stocks, pay $23.50 (incl.GST) for trades up to $10,000 and $31.99 above $10,000. I also have live watchlists.


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## esolano (24 June 2009)

Oh ok. you must have the premium account. I'll only be trading less than 5k per transaction.


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## YELNATS (15 December 2010)

Netwealth launched a new trading website last Monday December 13th which is totally new and different from the old one.

While it will ultimately be an improvement over the old one, one hopes anyway, there does seem to be a number of teething problems - for instance one of my accounts seems to be about $10,000 more in the red than it really is. 

Also data migrated for the watchlists seems inaccurate and/or missing and the basic watchlists functionality doesn't seem as good as before.

I have telephoned and emailed them about these issues and await their response.

Anyone else currently suffering also?


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## prawn_86 (15 December 2010)

I had a huge hold time when asking a question yesterday so obviously have quite a high amount of calls coming in.

Aside from that i really like the new platform, much more modern and includes a hell of a lot more details.


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## mattryanshares (15 December 2010)

If you sell managed funds through them it takes about 14 days for your money to turn up in your account.
Dont know if this is the norm or not??


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## burglar (15 December 2010)

YELNATS said:


> Netwealth launched a new trading website last Monday December 13th which is totally new and different from the old one.
> 
> I have telephoned and emailed them about these issues and await their response.
> 
> Anyone else currently suffering also?



Yes, I am currently suffering.
But most of it seems functionally the same as before.
I have left it to you to straighten them out!


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## YELNATS (16 December 2010)

burglar said:


> Yes, I am currently suffering.
> But most of it seems functionally the same as before.
> I have left it to you to straighten them out!




Placed my first 2 orders via the new website late yesterday and one of them sold this morning. Good result. However, there was no update to my trading account balance - what gives?

Looks like I'll need to phone them again this afternoon - when time permits, running my own retail business, v. busy at this time of year!


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## mattryanshares (17 December 2010)

Is it normal to take 2 weeks to get your funds when selling managed funds? 
I called them and there reply was if the money isnt in there after 2 weeks give us another cal???


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## Greedy_Kev (17 December 2010)

esolano said:


> Oh ok. you must have the premium account. I'll only be trading less than 5k per transaction.




I think ur better off using comsec, i use them and seems to be pretty good.

$19.95 for trades upto 10k

29.95 for up to 20k

and something like 0.15% for trades above 20k

also provides FREE LIVE DATA, but requires click to refresh, otherwise u need IRS(which is free after a certain amount of trade per month).

If u dont need live data updates, then i believe CM market is best ( dont know there interest rates thou, but 5k is not much anyway).

Also u need to set up a comsec account to settle ur trades, and be chess sponsored be prefered settlement, otherwise it cost u $10 more.
i believe chess sponsored means that comsec holds ur shares instead of the company.

its free to set up a comsec account and be chess sponsored, no minimum required, and the investment account provides like 6% interest (which is dam good compared to others) but i don't use this much, as i have an offset account which is like the ultimate .

comsec also provides free research, which is alright.

Note: i'm a newbie to trading, just a tight ass , always trying to save money. hope this helps


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## Julia (17 December 2010)

mattryanshares said:


> Is it normal to take 2 weeks to get your funds when selling managed funds?
> I called them and there reply was if the money isnt in there after 2 weeks give us another cal???






Greedy_Kev said:


> I think ur better off using comsec, i use them and seems to be pretty good.
> 
> $19.95 for trades upto 10k
> 
> ...



Matt is asking about liquidating his interest in managed funds, as I understand his question.

Your quoting of brokerage in Comsec is hardly relevant to his question.


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## burglar (18 December 2010)

YELNATS said:


> Placed my first 2 orders via the new website late yesterday and one of them sold this morning. Good result. However, there was no update to my trading account balance - what gives?
> 
> Looks like I'll need to phone them again this afternoon - when time permits, running my own retail business, v. busy at this time of year!



Hi YELNATS,
I had a rare glimpse today of differences between old platform and new.
Nothing startling, but has some promise.

I found my trading account balance in_ two _places. One correct and neat as a pin. The other, a dog's breakfast.
I'm sure it will get sorted.

Cannot seem to find a way to send money from my bank to the trading account. (probably a good thing??)

Cheers,
burglar


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## burglar (6 January 2011)

Netwealth.

I lost my Market Depth yesterday!
Has anyone else lost their Market Depth?


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## burglar (8 January 2011)

I lost my Market Depth!

Netwealth recommends I change my browser yet again.
Oh well. Back to Internet Explorer again ...


just for the sake of cheap brokerage!!


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## burglar (14 January 2011)

FWIW

My Market Depth mysteriously reappeared in Mozilla browser.
I am using my favoured browser again!


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## YELNATS (27 January 2011)

My latest feeling about Netwealth is a lot more positive.

They went "live" with their new web platform last December 13th and I have to say it was a pretty botched transition from new to old. For example, it took about 3 weeks to sort out my correct account balance after numerous failed "journal entry correction" attempts by them. I believe I was not the only one so affected.

However, now that has been fixed up, without any prompting from me they have reduced their brokerage for my trades from $23.50 under $10,000 to $17.99 under $5000 and to $19.95 for between $5000 and $10000. Also, it appears that I now have access to the $25,000 T+3 days of credit for all stocks, whereas before this was limited to the top 200 stocks. I don't believe I have traded more frequently over the past 6 weeks to move me into a more favoured customer bracket, so I'm pretty happy with these changes.

The only remaining issue I have now is with the Watchlists, which I use to record historical purchase details and therefore where I also can monitor running figures of positive/negative variances based on current share price. There appears to be no way to change the alphabetical sequence of Watchlists, they having been imported from the old system in a random/non-aphabetical sequence. Also, the new system only allows 3 decimal points, which gives inaccurate results of purchased gross value after including brokerage, especially for the lower share price stocks.

Anyone else have any opinions of the new Netwealth platform now it has had time to settle down?


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## Tonester (27 January 2011)

mattryanshares said:


> If you sell managed funds through them it takes about 14 days for your money to turn up in your account.
> Dont know if this is the norm or not??




A some what delayed reply - it's not the norm but is explainable.

It's generally dependent on both the internal processes of who you're purchasing through and then the internal processes of the individual fund managers.

In my professional experience, dealing at a wholesale level with global funds and global custodians, it takes anywhere from between 2 - 7 business days.  So shrink the size of the fund (for example an Aussie boutique fund) and the company 'broking' for you, and it could add a couple of days here and there.

Definately continue to chase though, things can sometimes be done to bump it through the processes if you're in need of the funds quicker.


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