Former adviser cops 10-year ban over fees for no service

The corporate regulator has announced the banning of former Redcliffe based financial adviser and director Kiriley Roper, (also known as Kiriley Suckling), from providing financial services for 10 years.

ASIC found that Lighthouse Partners engaged in fees for no service (FFNS) conduct in relation to 14 clients between January 2022 and October 2023. Roper was a director, shareholder and financial adviser of Lighthouse Partners.

“She was aware of the FFNS conduct and failed to report it immediately to the licensee, Crown Wealth Group. She also failed to investigate the FFNS conduct and implement adequate systems to prevent the FFNS conduct from reoccurring,” ASIC said.

The regulator also found that it had reason to believe that Roper is not a fit and proper person to participate in the financial services industry, including that she “enriched herself at the expense of affected clients because she failed to refund fees totalling $81,652.71 plus interest”.

She also failed to fulfil her duties as a director when she was on a period of leave between February 2022 and March 2023.

Roper has also been banned for 10 years from:

• performing any function involved in the carrying on of a financial services business; and
• controlling an entity that carries on a financial services business.

The banning took effect from 30 June 2025 and has been recorded on ASIC’s banned and disqualified register.

Roper has the right to appeal to the Administrative Review Tribunal for a review of ASIC’s decision.

Lighthouse Partners was a corporate authorised representative of Australian Financial Services licensee Crown Wealth Group.

On 13 March 2024, ASIC cancelled Crown Wealth Group’s AFSL after it was placed into voluntary administration.