Former Perth broker Sergio Amaranti has pleaded guilty to seven charges of dishonest conduct and will face a sentence hearing next month in the WA District Court.

Prosecutors said Mr Amaranti siphoned off $199,391.32 that was owed to 35 clients for refunds, cancellations and adjustments of insurance policies, placing the money into personal accounts held in his name.

The charges related to activities between January 2009 and October 2015, when he was employed by Phoenix Insurance Brokers, the Australian Securities and Investments Commission (ASIC) says.

ASIC has banned him permanently from the financial services industry.