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Money magazine reveals winners of Best of the Best 2020

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More than 110 gold-winning products are headlining Money magazine's Best of the Best awards for 2020, announced today.

Now in its 19th year, the Best of the Best awards recognise outstanding financial products and services including credit cards, term deposits, loans, super funds, managed funds, insurance and online brokers; as well as personal and business services such as broadband, phone plans and cars.

Winning the coveted Best Investment Manager is Macquarie Investment Management; while Best ETF Manager is State Street Global Advisors SDPR ETFs. In superannuation, the Best Super Fund is AustralianSuper and the Best Pension Fund is Cbus.

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Editor-in-chief Michelle Baltazar at the Best of the Best awards lunch.

Rainmaker Group managing director Christopher Page presented the awards at a lunch at Establishment Ballroom in Sydney yesterday. Money chairman and chief commentator Paul Clitheroe said the magazine has always highlighted the common sense approach to personal finance.

Household budgets are tight, and making the switch to this year's winners can help alleviate the burden. This can mean saving hundreds of dollars immediately and tens of thousands of dollars over time.

"Choosing the best products can make you 100 to 200% better off - it can help you halve the price of what you may be paying now," says Rainmaker Group's executive director of research and compliance, Alex Dunnin.

"You could double your superannuation savings or investments, double your internet value, half the fuel consumption in your next car," he says.

But figuring out which products offer the best, cheapest, most featured, smartest, and best value can be hard work.

"For most of us, the hardest part of starting a financial makeover is deciding where to begin when considering a change or a new start with financial products," says Money editor-in-chief Michelle Baltazar.

"We recommend you start with three household expenses that take up a big slice of your expenses, such as your home loan, insurance and credit card payments," she says.

Money magazine worked with research houses and industry experts Rainmaker Information (publisher of Money magazine), InfoChoice, WhistleOut and WhichCar to determine the award winners and finalists. The full list of awards is available in the December-January magazine, on sale now.

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Comments
George Bloomfield
April 5, 2020 6.26am

Well your best of the best reference to BUDGET DIRECT for car insurance. They are FAR FAR from the best of the best. Not sure what you rated them on but not on facts,

They dont insure family members who drive your car unless they are nominated on the policy.

They send you the policy document AFTER they have debited your credit card (after first payment)

When they amend your policy without your advice they dont tell you

When they amend it and finally send you the documents - there is nowhere to reply to as its an unmonitred email. And when they do send you a link to their ONLINE POLICY MANAGER - you cant correct or amend anything and the only link to a contact is to tell them "what you think of their service today". In other words you cant do anythign about the mistakes they made (deliberately). This can go on because whilst they amend a car that is AS NEW to condition : GOOD, and then say you entered a MARKET VALUE contract - they will value it AS GOOD, but wont even tell you the actual value. And guess what, the MARKET VALUE when asked is NOTHIGN like what they actually sell for.

So you vote this BEST OF THE BEST - seems like Money Magazine isnt either doing what it purports to ie ranks based on neing BEST OF THE BEST. Or its sold its soul for Money.......certainly i will think twice about Money Mags reviews in the future given the incomprehensible rating for Budget Direct

Fiona Morrison
May 5, 2020 1.31pm

I feel that the Budget Direct company is misleading in its advertising to provide the lowest price possible and consistently told me that the elevated renewal premium on my Home and Contents Insurance was due to the actual cost of insuring my property and that this locality had been reassessed by their underwriters as requiring a premium 54% more than the previous year.

This is evidently misrepresentation as the new quote I received as a new customer via the link to their website from the 'Insurance Compare' site revealed a quote even cheaper than the one that had been reduced by a 'discretionary' amount after my questioning its validity (I was on the phone for an hour discussing this matter on my second call regarding this issue).

I would like this blatant duplicity and misinformation of the insurance company's processes in determining Home Insurance premiums exposed and for a formal acknowledgement that my case was dealt with in an unethical and unprofessional manner. I do hope this isn't happening to other customers.

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