Financial adviser Hannah Jennings has been banned by the industry regulator from providing financial services for four years.

Hobart-based Ms Jennings failed to act in the best interests of her clients and provided inappropriate advice, the Australian Securities and Investments Commission (ASIC) says.

It says she failed to consider appropriate personal insurance cover for her clients, had no regard to their personal circumstances, cashflow position, ability to cover margin calls or exit strategy. She recommended double-gearing strategies despite knowing they struggled to service loans.

She was not adequately trained or competent to provide financial services and failed to keep proper records, ASIC says.

“Her lack of understanding about her legal and professional obligations as a financial adviser created additional risks to her current and future clients.”

Ms Jennings was the sole director and only authorised financial adviser of FF Planning Solutions located in the Hobart suburb of Bellerive. Previously known as Fort Financial Group, it said it specialised in “personal risk insurance.”

Ms Jennings has been a financial adviser since 2009 and was authorised by a number of AFS licensees.

The misconduct which resulted in the ban -- under which she must not carry on a financial services business or control an entity that carries on a financial services business for four years -- occurred during the time she was an authorised representative of Meritum Financial Group in the five years to February 2017, and then InterPrac Financial Planning.