ASIC permanently bans Sydney financial adviser

The former Sentinel Wealth planner was found to have engaged in misleading and dishonest conduct and sourced more than $5 million from clients and individuals as loans. Mr Fineff then gambled and lost that money without clients’ knowledge. 

ASIC found that Mr Fineff: 

• Breached financial services laws by failing to act in the best interests of his clients and engaging in unlicensed conduct.
• Is likely to breach financial services laws in the future.
• Is not adequately trained or competent to provide financial services, perform any function as an officer that carries on a financial services business or control an entity that carries a financial services business.
• Is not a fit and proper person to provide financial services, perform any function as an officer that carries on a financial services business or control an entity that carries a financial services business.

ASIC said that Mr Fineff’s permanent ban is “necessary to prevent future harm to clients of financial services businesses”.

Mr Fineff was arrested at Chatswood Police Station in Sydney on Friday, 7 May, after they received reports of an alleged fraud committed against an 86-year-old woman in March 2020.

Neil Griffiths

Neil is the Deputy Editor of the wealth titles, including ifa and InvestorDaily.

Neil is also the host of the ifa show podcast.

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