The Australian Securities and Investments Commission (ASIC) has banned former Suncorp financial adviser Gerald Grubwinkler from providing financial advice for four years.

He failed to act in clients’ best interests when advising on superannuation and insurance, the regulator says.

ASIC found the Queensland adviser failed to adequately identify the scope of advice sought by clients, did not make reasonable inquiries into their financial circumstances, failed to adequately investigate alternative strategies and products, and did not provide statements of advice before recommending establishing self-managed super funds.