Financial Adviser Barry King Permanently Banned by ASIC
The Australian Securities and Investments Commission (ASIC) has permanently banned Mr Barry David King from providing financial services, effective July 1st 2025. ASIC determined that Mr King is not a fit and proper person to provide financial services and is likely to contravene financial services laws.
ASIC's investigation found that Mr King:
Concealed information from clients
Made false representations to ASIC
Provided false documents to clients
Managed client funds without written authorisation
Misused client funds to pay personal liabilities
Failed to provide clients with investment records or updates
As a result of these findings, Mr King is also permanently banned from controlling or performing any function in a financial services business.
Mr King was an authorised representative for:
Principal Financial Group Pty Ltd (6 Nov 2007 – 22 Oct 2014)
Total Financial Solutions Australia Pty Ltd (22 Oct 2014 – 17 Feb 2020)
Wealth Effect Advisory Pty Ltd (from 18 Feb 2020)
Until August 2024, he served as a director of Wealth Effect Advisory Pty Ltd, and various entities within the King Financial Group.
ASIC's investigation into Mr King’s conduct is ongoing.
Mr Barry David Kings ban is recorded in ASIC’s banned and disqualified register.
This information is based on the ASIC Media Release (25-124MR) from the 7th of July 2025 and is true at the time of publishing.
