Protecting those that are Vulnerable
A.S.A.G. is dedicated in helping an increasing number of Australian seniors achieve financial peace of mind in retirement. We pride ourselves on our commitment to assist you in accessing equity in your biggest asset. A.S.A.G. aims to help you live a life of confidence and comfort, the life you have earned in retirement.
In providing our customers with financial tools, we have built our process to emphasize a great deal of importance in its responsibilities. Part of this is to establish awareness of possible vulnerability in our customers and make the appropriate action and support to lend responsibly. Our team is trained to handle with such situations by identifying key indicators through the process.
More Information on Identifying Vulnerable Customers
We understand that vulnerabilities may be either short or long term and that any one person can be vulnerable at some point in their life. As such, alongside responsible lending, A.S.A.G. has taken additional steps to ensure we are guaranteeing that the loan and its purpose suits and benefits the customer.
You can view our product safeguards by visiting the A.S.A.G. Safeguards link here to see an outline of these protections.
Vulnerabilities are often non-specific and may relate to a set of factors that A.S.A.G. has processes to identify. We do this using the framework of I-C-U (Information, Communication, Understanding).
Our application form is designed to collect all information from the applicant to ensure that we know exactly who we are talking to but also to provide as much information around A.S.A.G. and out products as possible in a variety of methods to ensure our messages are delivered.
As a non-negotiable A.S.A.G. will at all times require direct communication to the applicant. As we know quite well the demographic that requires A.S.A.G. services may also require support in the application process, it is still a requirement that we deal at times directly with the applicant ourselves.
We will take the required steps to ensure a complete understanding of the information supplied around the product. But A.S.A.G. also takes further steps in requiring all applicants to seek professional advice regarding the product before finalisation.
In situations where vulnerability is identified, we will handle it accordingly and make sure the customer is not being taken advantage of.
In case of a language barrier during the application process, an appropriate assistance will be offered from our network of mortgage brokers.
It also serves as a precautionary measure in detecting and preventing elder abuse.
? It’s for financial matters;
? The customer is not able to sign for themselves;
? The beneficiary of the funds is a nominated borrower; and
? The request has not been called back.
A.S.A.G. requires the solicitor to sign a letter of intent to confirm that an independent legal advice is involved. The same is required for financial advice.
This process takes place by conducting a private discussion directly with the customer.
Step 1 – Private Discussion
A private discussion is conducted with the customer only and handled by an A.S.A.G. team member. All points from the discussion regarding concerns are documented. Any ‘key indicators’ are noted regarding any third-party involvement.
Step 2 – Escalation
Proceeding Step 1, confirmed abuse cases will be escalated to senior management. At this point A.S.A.G. will:
– Delay any release of funds;
– Cease any approvals on the loan;
– Report any incidents to the authorities and request a visit from a police welfare if the customer cannot be contacted;
– Notify protection agencies such as Public Advocates i f there has been an abuse of Guardianship and Administration, or Power of Attorney;
– Request assistance from other family members or emergency contacts on file;
– Request a medical certificate confirming the capacity of the customer.
If a case of potential vulnerability is identified, a ‘care flag’ will be noted on our system to make sure the right approach will be taken.
Financial Abuse – Elder Assist
1800 ELDERHelp (1800 353 374).
Memory Loss – Dementia Australia
1800 100 500
Financial Difficulty – National Debt Helpline
1800 007 007
Crisis Support – Lifeline
13 11 14
What People Say About Us
I have been absolutely thrilled with not just the professional service offered by ASAG but also by their kindness and understanding. Compared to two other major Reverse Mortgage companies who between them took 13 months to decline my application due to me living in a resort I have found Gavin Luka at ASAG extraordinary in his patience with any amount of questions which were answered so promptly and in full. A very happy life ahead.
Kathy on Trustpilot
22 Mar 2022
We are very happy to “highly recommend” Gavin Luka for providing his thoughtful, empathetic, personable yet professional service during the acquisition of loan process. Gavin’s ability to ‘make it happen’ in a calm, seamless manner at a very stressful time for us – meant a lot.
Thankyou Gavin, what a ‘star’. Blessings to you
ASAG are very fortunate to have you on their team. Well done.
Carol Fleming on Trustpilot
9 Mar 2022
This was a very pleasant experience. Plenty of guidance given along the way. Some anxiety but now looking back nothing to be concerned about. Thank you Gavin and his team.
Sandra Phillips on Trustpilot
7 Mar 2022
dealing with paul and gavin was extremely easy and also very pleasureable. if taking out a reverse mortgage i would reccomend asag to anyone.
Bob Manskie Manskie on Trustpilot
7 Mar 2022
I have used this company very recently and especially Gavin.He was so helpful in every way and talked me through everything that I needed to do.He was so polite , understanding and gentle with this gal as I was sick at the time but he just explained it all step by step and made the whole procedure as painless as possible though it wasn’t as easy a procedure as I’d hoped.They always answered the phone promptly and if Gavin wasn’t immediately available he’d always ring back very promptly.I can assure you this company is so easy to deal with.
Heather on Trustpilot
7 Mar 2022