We are a collective of 12,000 Australians who have lost our retirement savings due to the collapse of Shield and First Guardian. Together, we face a staggering loss of up to $1.2 billion, one of the largest superannuation failures in Australia. Many of us are now confronting the harsh reality of destitution in retirement. We did everything right: we sought financial advice, compared options, and invested through reputable platforms that were supposed to protect us. Yet, we were let down at every turn. Regulators like ASIC were alerted in 2022 but took no action. Platforms and Trustees approved these products without proper scrutiny, and advisers ignored the risks while profiting from our investments. The avenues for justice through AFCA and CSLR have proven inadequate, with any potential compensation likely to fall far short of the life savings we lost. We are determined to raise funds to organize and fight back against this injustice. We refuse to be at the mercy of law firms that profit from our suffering. We want to act as a united front, demanding accountability from the companies and institutions that have failed us. Our goal is to reclaim our dignity in retirement and seek the justice we deserve. Your support is crucial in making this happen.

This fight is not just about us; it’s about the 12,000 Australians who have lost their retirement savings, totaling up to $1.2 billion, through no fault of their own. The failure of regulators, trustees, platforms, and advisers has left us vulnerable. While ASIC is pursuing legal action, any funds recovered will go to government coffers rather than back to the victims. This is fundamentally unfair, and we cannot accept it. Your contributions will empower us to establish a corporate structure that represents victims collectively, recruit a competent board and advisors to guide our strategy, lobby the government and industry for litigation funding, and engage litigation funders to initiate legal action on behalf of all members affected by Shield and First Guardian. We aim to raise $40,000 to kick-start this process, but realistically, pursuing all responsible parties may cost up to $5 million. This is about more than just financial restitution; it’s about restoring our dignity, ensuring accountability, and preventing such failures from happening again.

Your support is vital in our quest for justice. We are forming a collective to represent the victims of this financial disaster, ensuring that our voices are heard and our rights are defended. By contributing, you help us establish a strong corporate structure that can effectively advocate for our interests. We will bring in experienced advisors to guide our strategy and ensure that we are well-prepared for the legal battles ahead. Additionally, your contributions will enable us to lobby the government and industry for necessary litigation funding, which is crucial for our fight. We are committed to engaging with litigation funders to commence legal action on behalf of all members who have suffered losses due to Shield and First Guardian. Together, we can make a significant impact and demand the accountability we deserve.

We are aiming to raise $40,000 to initiate this process, but the reality is that pursuing every responsible party may require up to $5 million. This fight is not solely about financial compensation; it’s about restoring our dignity and ensuring that such failures do not happen again. We are standing up because our regulator failed us, and with your help, we can fight back and demand justice for all affected.