ASIC has cancelled the Australian financial services (AFS) licence of Superfast AM Pty Ltd (Superfast), effective from 13 February 2026.
Superfast's AFS licence was cancelled after ASIC became aware that Superfast ceased to carry on a financial services business. So as not to adversely affect former clients of Superfast, the AFS licence continues in effect until 13 February 2027 for the purpose of Superfast maintaining its membership with Australia Financial Complaints Authority (AFCA).
Actions to consider if you are a client of Superfast, Apex and Echelon Financial
If you are a client of Superfast or its Corporate Authorised Representatives, including Apex Financial Planning Pty Ltd (Apex) and Echelon Financial Pty Ltd (Echelon Financial) and have concerns about the conduct of your adviser or the advice you received, you should consider lodging a complaint with AFCA). AFCA is the external dispute resolution scheme for financial complaints in Australia and must deal with complaints independently and fairly. AFCA's service is free for consumers.
AFCA can be contacted by:
- calling 1800 931 678 for free (9am - 5pm Melbourne time), or
- lodging a complaint online on AFCA's website.
AFCA will consider your complaint if it meets the eligibility criteria.
Important deadline: In cancelling Superfast's licence, ASIC required Superfast to remain a member of AFCA until 13 February 2027. If you intend to lodge a complaint with AFCA in relation to advice received from Superfast you should do so by 13 February 2027.
Superfast may apply to the Administrative Review Tribunal for a review of ASIC's decision.
ASIC may suspend or cancel an AFS licence if the licensee ceases to carry on a financial services business under section 915B of the Corporations Act 2001 (Cth).
Background
Superfast held AFS licence number 283043 since 16 February 2005. It was authorised to provide financial product advice and deal in certain financial products to retail and wholesale clients.
Adam Gillett is the sole director of Superfast.
The Corporate Authorised Representatives of Superfast have included:
- Apex Financial Planning Pty Ltd
- Echelon Financial Pty Ltd
- Taurus Equity Pty Ltd
- Gillett Enterprises TAS Pty Ltd
- IC Data Pty Ltd, and
- AMRAM Corp Pty Ltd
The cancellation of Superfast's AFS licence is part of an ongoing ASIC investigation that includes Superfast and associated entities and individuals.
Consumer Information
ASIC has issued a consumer alert warning amid increasing concerns that people are being enticed to invest their retirement savings into complex and risky schemes (25-120MR Consumer alert). Be super smart, visit ASIC's Moneysmart campaign page.
