Adviser fakes exam certificate, cops ASIC ban

ASIC has slapped a permanent ban on a financial adviser who doctored her exam certificate and continued to provide advice without the proper qualifications.

Adele Baaini, while working as a representative for licensee AAN Wealth Management, has been banned from entering financial services.

ASIC's investigation found that she rendered personal advice to 121 clients in circumstances where she knew that she did not meet the prescribed education and training standard.

Baaini worked at AMP Financial Planning between July 2011 and January 2012. She then went on to work at Affinia Financial Services for about three years and jumped to NAB as senior financial adviser for over a year.

Between June 2017 and June 2023, she was employed at NAB as a business development manager, according to her LinkedIn profile.

ASIC said Baaini engaged in "dishonest conduct and failed to act with integrity and sound judgment" and was "not a fit and proper person" with respect to working as an adviser.

ASIC also found that she was not adequately trained or competent to provide financial services and is likely to contravene credit legislation and financial services legislation.

The permanent ban also includes preventing Baiini controlling any entity that carries a financial services business, performing a function involved in the carrying on of a financial business or engaging in credit activities.

Baaini has the right to appeal to the Administrative Appeals Tribunal to review ASIC's decision.