Lost Superannuation – What We Do for You
At Australian Lost Super we offer a very simple process for all your superannuation consolidations. We use one of Australia's top providers, AMP, to offer you an automated and electronic way to bring your super funds together.
In order to get started we will set you up with your own personal Flexible Super account with AMP. This will be your own superannuation account into which we will consolidate all your funds. This account can also be used with your current and any future employers in order to keep contributing into your superannuation. This will prevent any future "lost super".
Once the Super Search is finished you will be sent an SMS or email with the results available on AMP "My Portfolio" and an email with instructions on how to log in.
Approximately ten days after this, AMP will initiate consolidation of all the superannuation found.
If you take up our service, your AMP superfund will be charged a fee of $275 upon completion of the consolidation process, and 0.44% pa on an ongoing basis. These fees are charged to your superfund and are not paid by you directly. This fee is for us to make the necessary administrative arrangements with your superannuation funds to consolidate your superannuation and is not an advice fee.
You will receive regular updates and educational material from us by email with your consent and access to a financial adviser if you wish to make an appointment to receive personal financial advice in need. If you do not wish to receive our ongoing updates and educational material, you can cancel the ongoing fee by emailing us at any time with a 30 day notice.
You should be aware that if you roll your benefits out of your current superannuation fund/s, any life or disability insurance in your current superannuation fund/s will be cancelled when your superannuation is rolled over. It is your responsibility to check whether you require this insurance as our service does not include personal advice on your insurance needs.
In addition, for most clients we can offer a simplified process for automatic acceptance of insurance cover in your new AMP Flexible Super account. Until this insurance is accepted however, you will be uninsured.
Please Note: this website deals purely with general advice only.
General vs Personal Advice.
There are two broad definitions of types of financial advice in Australia. Financial advice helps you make decisions about your money and can be tailored to your situation (personal advice) or general financial information (general advice).
Personal financial advice
Personal financial advice is where an adviser makes recommendations for a financial service or product after considering one of more of your objectives, financial situation and needs. Where a financial adviser provides you with personal financial advice, they must provide you with a Statement of Advice (SOA). Your adviser will consider the information you have provided him/her, carefully consider your financial goals and provide the SOA in writing that sets out what your adviser is recommending and why they think it's suitable for you.
General financial advice
General financial advice refers to general information regarding financial products but is not recommended as to its suitability for the client. The product adviser does not select from a group of potential products which might be more suitable for the client in relation to their personal needs, circumstances or objectives.
General Advice Warning.
We are also authorised to provide personal financial advice on a fee for service basis to you if you prefer. Please contact us if you would like to discuss obtaining personal financial; advice before consolidating your superannuation.
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