The Australian Securities and Investments Commission (ASIC) has permanently banned former financial adviser Anthony Joseph Del Vecchio following his conviction of fraud.
The conviction related to Mr Del Vecchio’s widespread financial deception and misappropriation of client funds.
Under the Corporations Act, ASIC may permanently ban a person from providing financial services if they are convicted of fraud.
Mr Del Vecchio has been banned permanently from:
- providing any financial services
- controlling, whether alone or in concert with one or more other entities, an entity that carries on a financial services business, and
- performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity).
The ban took effect on 15 September 2025.
From November 2016 until 26 October 2023, Mr Del Vecchio was employed by Freedom Finance Australia as a financial adviser. In that employment Mr Del Vecchio was an authorised representative of the following entities that, at the time, held Australian financial services licences:
- Financial Services Partners Pty Ltd (ACN 089512587, AFSL 237590) from 12 December 2018 to 13 November 2020, and then
- Wealth Trail Ltd (ACN 634620956 AFSL 297239) from 13 November 2020 to 18 October 2023.
Between February 2020 and December 2023, while employed as a financial adviser, Mr Del Vecchio misappropriated a total of $4,479,670 from clients, family and friends. He said the funds would be invested in bonds, shares and terms deposits.
On 16 April 2025, Mr Del Vecchio pleaded guilty in the County Court of Victoria to twenty-four charges of obtaining financial advantage by deception. He was sentenced to serve 7 years 6 months imprisonment with the possibility of parole after 4 years.
Mr Del Vecchio has the right to appeal to the Administrative Review Tribunal for a review of ASIC’s decision.
