Commission Refunders - Has Anyone Used Them before?

cucumber on 25/01/2016 - 08:58

These guys apparently do not charge any fees and will refund 100% of the commissions they received back to the consumers.

Have you used them before? and what was your experience like?

https://www.commissionrefunders.com.au/

Financial

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Comments

  • QW3RTY on 25/01/2016 - 09:10

    Domain Name commissionrefunders.com.au
    Last Modified 11-Jun-2015 02:54:09 UTC
    Status ok
    Registrar Name NetRegistry
    Registrant COMMISSION REFUNDERS PTY LTD
    Registrant ID ABN 35151902457
    Eligibility Type Company
    Registrant Contact ID JOJI1025
    Registrant Contact Name Jim Jongebreur

    ASIC Search suggested that ownership changed in 2014-15.

    Never used them.

  • Lerchik on 26/01/2016 - 09:35

    You've got to wonder what kind of staff the run of the mill full rebater is attracting?? Considering they are making practically zero from the transaction I reckon it would have to be some pretty bottom of the barrel types. What is their incentive to give you a good product you want to stay in if they make no money from you staying in the product they recommend?!

    Personally when I am looking for a professional I want someone who is great and a business that will be around in the future so I don't have to keep on finding new people to reveal my life to. Otherwise I'll just do it myself and avoid staff that would probably be best working for Jordan Belfort at Stratton Oakmont. Just my two cents.

  • cucumber on 26/01/2016 - 10:46

    They seem to be giving the service out for free in "good faith" and hope to generate leads for their full financial planning service arm which they charge a fee for.

    Also keep in mind that their commission refund service doesn't actually involve giving advice - so they're not actually recommending any products there.

    But you raised a very good point - how long will they be able to keep doing it for free before I have to give out my financial details to another firm.

  • SydneySwan on 27/01/2016 - 20:00

    I have found them reliable. They pay your commission to you annually on the anniversary of joining. If you have Colonial First State investments and you move to another advisor you need to be aware that CFS will no longer refund commission to your new advisor.

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