Travis and Susan had spent years carefully planning for a comfortable retirement. They believed they had set themselves up for a future with minimal financial stress.

Upon retiring, they entrusted the long‑term management of their self‑managed superannuation fund (SMSF) to a large, well‑known financial firm with a strong reputation.

“Everything was very professional, and we were pleased with the overall service,” Travis recalled.

Over time, however, the couple began to notice that their fund’s performance was steadily declining. After several years of monitoring the situation, they started to question whether the advice they had received was in their best interests.

They raised their concerns with the firm and engaged in extensive discussions. Eventually, Travis and Susan decided that winding up the fund was the best course of action.

“The firm wasn’t happy and pushed back, claiming it was a very complex process to sell everything and close the fund,” said Travis.

Despite this resistance, the couple insisted that the fund be wound up and the investments sold. When the process was finally completed, they were shocked by the outcome.

“When all was said and done, we discovered we had lost almost half of our initial investment,” said Travis.

Not long after, Travis and Susan learned that they were not alone. The financial firm had provided similar advice and recommended the same types of investments to hundreds of clients, many of whom experienced similarly devastating losses.

“We were so anxious about the future,” said Susan.

“Everything felt uncertain.”

The couple lodged a complaint with the Australian Financial Complaints Authority (AFCA) and were eventually issued a determination in their favour.

AFCA also advised that they may be eligible for compensation through the CSLR, so they gathered their documents and submitted a claim.

In early 2026, Travis and Susan were deemed eligible for compensation and received payment.

“We’re incredibly grateful to the CSLR for taking a significant weight off our shoulders,” Susan said.

“We can finally breathe a little easier.”