ASIC bans former Suncorp financial adviser

In a statement today, ASIC said Mr Gunner was an employed representative of the Suncorp-owned advice business GuardianFP from 15 February 2013 to 4 May 2016.

Between January 2014 and February 2016, Mr Gunner had assisted clients to access their superannuation by advising them to acquire multiple insurance policies through their superannuation, ASIC said.

Upon receiving commission from the issuer of the insurance, Mr Gunner paid those commissions to the client less his own expenses, the statement said.

In doing this, Mr Gunner created insurance application forms, client file notes, client profiles and SOAs that contained false information.

ASIC deputy chair Peter Kell said, “ASIC is determined to ban financial advisers who deliberately breach the law from the financial services industry.”

Mr Gunner has the right to appeal to the Administrative Appeals Tribunal for a review of ASIC’s decision.