Single parent Elizabeth was offered a redundancy after a long and successful career.  She chose her financial firm carefully because they were specialists in defined benefit superannuation.

Elizabeth suffered a loss of more than $43,000 over five years due to her financial firm providing advice that was not in her best interest.

"I had been bankrupted in my thirties and this had informed my thinking when it came to investing and saving. I was cautious about my finances and risk averse. These considerations were front of mind when I was considering a financial adviser.

 

I noticed the value of my superannuation was going backwards by hundreds of thousands of dollars. I couldn’t understand how the so-called experts in investing were delivering such poor results.

 

I feel an overwhelming sense of gratitude for the compensation I received from the CSLR. Primarily because it validated that I wasn’t crazy or gullible. It has given me peace of mind that I was not at fault. I’m grateful that some compensation was available, I was lucky."

*Name changed for privacy