Important Notice to Consumers: ASIC Crackdown on Lead Generation Services

ASIC has launched a review into financial advice businesses using lead generation services and published a list of entities involved since 1 July 2024. The review targets practices that may improperly encourage superannuation switching. ASIC has stated that inclusion on the list does not imply wrongdoing.

ASIC has commenced a review to identify financial advice businesses that use lead generation services, to understand the nature of these arrangements and where appropriate, take disruptive or enforcement action.  As a part of this review ASIC has published a list of known entities on the MoneySmart website which identifies a list of known entities involved in lead generation, those acting as referral partners, and advice licensees or corporate authorised representatives that have acquired leads, since 1 July 2024.

‍

ASIC stated in their notice that the review has been commenced as a part of its ongoing program of work to address practices that inappropriately or unnecessarily encourage consumers to switch their superannuation.

The following is a list of entities which ASIC has identified as a business, website, authorised representative, financial adviser and financial services licensee involved in lead generation, acting as referral partners or engaging the services of lead generators throughout the course of this review since 1 July 2024.

The naming of the entities in this list should not be construed as an indication by ASIC or Financial Dispute Legal that a contravention of the law has occurred, nor should it be considered a reflection upon any person or entity.

While this information relates to the period from 1 July 2024, some entities included in this list may have ceased involvement in lead generation activities by or after the date of publication.

‍

Known Entities Involved in Lead Generation or Acting as Referral Partners
Advice Licensees or Corporate Authorised Representatives That Acquired Leads

(All added on 18 February 2026)

‍

Financial Dispute Legal supports ASIC’s efforts to crackdown on lead generators that mislead consumers, utilise high pressure tactics or provide financial services without a licence will risk contravening the law.  If you have concerns with any advice you may have received from a lead generator or a company associated with a lead generator, we ask that you contact Financial Dispute Legal to discuss your circumstances and consider any rights to recover compensation on 1300 433 533 or enquiry@fdlegal.com.au.

‍

Related News

ASIC Cancels AFS Licence of Superfast AM

On 17 February 2026, ASIC cancelled the AFS Licence of Superfast AM Pty Ltd as part of an ongoing investigation involving the company and related parties. Financial Dispute Legal is pursuing complaints against former Superfast-authorised advisers over investment advice linked to associated entities, with matters still ongoing.

Landmark AFCA Determination: Financial Dispute Legal helps investor win first AFCA Complaint against MWL Financial Services Pty Ltd (in Liquidation)

Financial Dispute Legal (FD Legal) has won the first determination by the Australian Financial Complaints Authority (AFCA) against MWL Financial Services Pty Ltd (in Liquidation) involving advice to invest into the Shield Master Fund and bad insurance advice. This is an important decision for all investors involved in the collapse of the Shield Master Fund.

Investigation into advice provided by QWealth Pty Ltd

Financial Dispute Legal are investigating claims on behalf of former clients of financial planning company QWealth Pty Ltd. We understand that clients of QWealth were recommended to invest into investments which involved risks which were allegedly not appropriate for their goals, objectives and circumstances. The investments included buying shares and/or loaning money to companies which have either lost value or not repaid the loans.

Contact us

Email
enquiry@fdlegal.com.au
Phone
1300 433 533
Office
Level 9/239
George St,
Brisbane City QLD 4000