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ASIC warns lead-generation partnerships could put financial advice licenses at risk

1 reports1 sourcesupdated 8 hours ago

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AI-assisted source synthesis · not an independent investigation.

On November 9, 2026, Finance Magnates reported that the Australian Securities and Investments Commission (ASIC) warned financial advice firms that using lead generators could put their licenses at risk. ASIC reviewed 15 licensed firms and found that lead generators brought in approximately 7,639 new clients between January 2025 and June 2026, accounting for around 35% of those firms’ total clients; the clients invested approximately A$678 million, around 90.6% of which came from retirement savings. The report also said that some referral partners could receive 80% to 100% of clients’ upfront advice fees. ASIC said firms that allow such conduct or fail to control it could face regulatory action affecting their licenses.

AI-written from reports · updated 7 hours ago

LatestNov 9 14:39
ASIC said firms that fail to control conduct related to lead generators could face regulatory action affecting their licenses.

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Nov 9
  1. Finance Magnates
    ASIC warns financial advice firms that using lead generators could put their licenses at risk

    ASIC has warned Australian financial advice firms that using lead generators could put their licenses at risk. A review of 15 licensed firms found that lead generators brought in around 7,639 new clients from January 2025 to June 2026, accounting for around 35% of their total client base. These clients invested approximately A$678 million, around 90.6% of which was retirement savings. Some referral partners could receive 80% to 100% of clients’ upfront advice fees; ASIC said firms that allow or fail to control such conduct could face regulatory action affecting their licenses.

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