Short Summary
APT Strategies Pty Ltd operated as an Authorised Representative under Australian Fiduciaries Limited (AFL), an Australian Financial Services Licensee. Through APT Strategies, investors were advised to roll over their superannuation or retirement savings into investment products that have since become the subject of regulatory action and significant investor losses. Many investors have reported they were unaware of the risks associated with the investments they were entering or the concentration of their retirement savings.
APT Strategy Reinstated as an AFCA Member – A New Complaints Pathway for Investors
A significant development has occurred for investors affected by Australian Fiduciaries Limited (AFL), with APT Strategy Pty Ltd (in liquidation) reinstated as a member of the Australian Financial Complaints Authority (AFCA).
The reinstatement is important because APT Strategy was the financial advice firm through which many investors received advice relating to investments in Australian Fiduciaries managed investment schemes. Following APT Strategy’s deregistration, affected investors faced uncertainty about their ability to have complaints considered by AFCA and, where eligible, potentially access the Compensation Scheme of Last Resort (CSLR).
How the pathway was restored
Callun Blurton of FD Legal played a central role in establishing the legal pathway for APT Strategy to be restored, bringing an application before the Supreme Court seeking the necessary orders.
Following the Court process, Matthew Hudson of SV Partners, as liquidator and the sole responsible officer or authorised person operating APT Strategy, progressed the next stage of the process.
Mr Hudson made the application on behalf of APT Strategy for its AFCA membership to be reinstated. The AFCA Board subsequently approved the application, restoring a complaints pathway for affected investors.
SV Partners, through Matthew Hudson, will now be responsible for responding to AFCA complaints and determinations made against APT Strategy in its capacity as the financial firm’s liquidator.
Further work may also occur between SV Partners and AFCA to establish a streamlined process for responding to complaints. FD Legal and Callun Blurton may similarly work with AFCA to assist in simplifying aspects of the complaint submission process for affected investors.
The role of SOS Save Our Super
SOS Save Our Super has advocated for Australian Fiduciaries Limited (AFL) investors and supported efforts to restore a viable complaints and compensation pathway.
In December 2025, at the request of Callun Blurton of FD Legal, SOS raised the APT Strategy issue directly with ASIC, helping to open a channel of communication between the regulator and FD Legal regarding the difficulties facing affected investors.
SOS subsequently supported FD Legal and the AFL investor group in raising the funds required to progress the necessary Court applications, while continuing to advocate for these investors and ensure their circumstances remained visible to regulators and other relevant organisations.
The legal work and Court application were undertaken by Callun Blurton and FD Legal. Following the Court process, Matthew Hudson and SV Partners took the necessary steps as liquidator to progress APT Strategy’s application for reinstatement as an AFCA member.
SOS’s role throughout this process has been one of advocacy, coordination and support — helping connect the relevant parties, supporting the investor community and assisting the efforts that ultimately helped restore a complaints pathway for affected AFL investors. This has also included advocating for AFL investors by raising greater media awareness of their circumstances and providing ongoing information, guidance and support to affected investors through the SOS Save Our Super Facebook community.
What happens next
The reinstatement does not mean compensation is automatic. Each complaint will still need to proceed through the AFCA process and will be considered on its individual circumstances.
However, the significance of the development is that affected investors now have a pathway to have eligible complaints against APT Strategy considered by AFCA.
Where an investor ultimately receives an eligible unpaid AFCA determination, there may also be a pathway to the CSLR, subject to the scheme’s eligibility requirements and compensation limits.
For Australian Fiduciaries investors who have not yet lodged an AFCA complaint, the immediate priority is to understand whether they are eligible and ensure they do not miss the opportunity created by APT Strategy’s reinstatement.
This outcome represents an important step forward after a lengthy period of uncertainty for affected investors.
What was APT Strategies?
APT Strategies Pty Ltd was a financial advice business that operated as an Authorised Representative of Australian Fiduciaries Limited (AFL), which held Australian Financial Services Licence (AFSL) No. 237857.
APT Strategies provided personal financial advice to clients, including recommendations to establish or utilise Self-Managed Superannuation Funds (SMSFs) and invest retirement savings into managed investment products.
Australian Fiduciaries Limited, as the holder of the Australian Financial Services Licence, was responsible for:
- Supervising its authorised representatives.
- Ensuring financial advice complied with the Corporations Act.
- Maintaining adequate compliance and risk management systems.
- Monitoring advisers and ensuring they acted in their clients’ best interests.
- Meeting the obligations imposed on Australian Financial Services Licensees under Australian law.
Australian Fiduciaries Limited has since entered liquidation, and ASIC has cancelled its Australian Financial Services Licence. The affairs of the company are now being administered by liquidators while regulatory investigations and compensation processes continue.
The Allegations
ASIC has taken regulatory action against Australian Fiduciaries Limited and has investigated matters relating to financial advice provided by APT Strategies and other authorised representatives. Importantly, these remain allegations unless admitted or determined by a court.
ASIC’s allegations and the issues raised include:
- Investors were allegedly advised to establish or use Self-Managed Superannuation Funds (SMSFs) before rolling over their retirement savings into high-risk investment products.
- Questions have been raised as to whether financial advice complied with the best interests duty and other obligations imposed under the Corporations Act.
- ASIC alleged Australian Fiduciaries Limited failed to adequately supervise its authorised representatives and maintain appropriate compliance arrangements.
- Many investors allege they were not fully informed of the risks associated with the investments or the concentration of their retirement savings.
- The deregistration of APT Strategies created a significant barrier that prevented many investors from lodging AFCA complaints and accessing the Compensation Scheme of Last Resort until a pathway was later restored.
ASIC continues to investigate broader issues surrounding the advice, distribution practices and investment products connected with these matters.
Recovery and Compensation
Liquidation
Australian Fiduciaries Limited is in liquidation. Liquidators are responsible for identifying and realising any available assets that may ultimately be distributed to creditors. Any recovery remains uncertain and will depend upon the outcome of the liquidation process.
Australian Financial Complaints Authority (AFCA) & Compensation Scheme of Last Resort (CSLR)
Following the restoration of the AFCA pathway, eligible APT Strategies clients have been able to lodge complaints with the Australian Financial Complaints Authority.
Where AFCA determines that inappropriate financial advice has caused financial loss, compensation may be awarded against the financial firm. Where an AFCA determination is made against a financial firm that is unable to pay, eligible investors may be able to seek compensation through the Compensation Scheme of Last Resort (CSLR), subject to the scheme’s eligibility criteria and compensation cap.
ASIC Regulatory Action
ASIC cancelled Australian Fiduciaries Limited’s Australian Financial Services Licence following the company’s entry into liquidation. Regulatory investigations continue into the conduct of the firm and related advice. Investors continue to monitor the outcomes of ASIC’s investigations, the liquidation process and any further court proceedings that may provide additional pathways for recovery or compensation.