Former Ipac adviser Graeme Cowper has been banned from providing financial advice for four years.

The Australian Securities and Investments Commission found he was not adequately trained or competent to provide advice.

Mr Cowper recommended clients switch their superannuation without warning them the new fund’s insurance would not cover pre-existing health conditions.

He also recommended gearing strategies clients could not afford, and did not provide sufficient information in his statements of advice.

Between 2007 and 2015 Mr Cowper was a financial adviser at NAB, Aon and Tynan Mackenzie. He then transferred to AMP-owned Ipac.