We are acutely aware of the recent ABC report featuring the Deputy Chair of ASIC (the Australian licensor and regulator of the financial services industry).

Both in that report and in a statement issued by Rashpal Harmann, ASIC’S Commission Counsel, “Deputy Chair Clark made it clear that ASIC’s investigations are ongoing, and that no conclusions or findings have been made by ASIC”.

Despite the false claims in the July 24th ABC 730 report, AGAT employees do not engage in “cold calling” and AGAT is not engaged in any misconduct whatsoever.

AGAT has engaged solicitors to restrain ABC’s grossly inaccurate reporting.

We have been advised by ASIC’S Counsel that the Deputy Chair appeared on the ABC report for the general purposes of warning consumers against “dodgy” providers of financial planning advice and recommendations.

It implied that AGAT was such an operator – despite the Deputy Chair referring to scenarios that have no application to what AGAT does or offers.

Without addressing the factual errors in the histories provided by those appearing on the ABC report, AGAT is merely a conduit between a consumer and their financial planner.

We collect data and facilitate the process of obtaining proper financial advice from lawfully licensed financial planners, authorised under ASIC.

Once again, our employees DO NOT COLD CALL CONSUMERS.

Of the three consumers interviewed by ABC – one advised AGAT that they wished to engage a different financial planner; one was fully refunded all fees when the financial planner could not arrange the insurance requested; and one is still a client of AGAT and their financial planner.

Clearly, we work for the consumer – their stories proved that.

There are 1000’s of satisfied of customers of AGAT and the various financial planners which AGAT supports.

The ABC took no steps to consider any of their testimonies of satisfaction, achieved by understanding their financial position and securing their investment objectives.

Who benefits from keeping Australian consumers away from their own financial planning options?

We won’t go into that here, but why shouldn’t Australian consumers have a cost-effective solution and simplified process of accessing their own information, and working with their own financial planner to understand their financial situation and plan for their own future?

ASIC has, we understand, frozen a Fund impacting clients of AGAT and the financial planners which AGAT assists.

This investment was available on the Macquarie Platform and was favourably rated by SQM Research.

AGAT continues to advocate for the unfreezing of the fund and for immediate access to hardship redemptions.

Like you, we hope and expect ASIC’s enquiries will be resolved as soon as possible.

As Australians, we are are all entitled to access financial advice and the assistance of facilitators such as AGAT, which help make that process simple and straightforward.

Please contact us if you have any questions or concerns.