Adviser gets four-year ban

THE corporate regulator has banned a former Suncorp financial adviser from offering financial services for four years.

The Australian Securities and Investments Commission (ASIC) says Gerald Grubwinkler failed to act in his clients best interests when providing superannuation and insurance advice.

ASIC says Mr Grubwinkler failed his clients in a number of areas during his seven years at Suncorp Financial Services from March, 2009.

This included failing to make reasonable inquiries into his clients’ circumstances and failing to investigate suitable products and strategies for clients.