A former NSW financial adviser could face up to 10 years in jail after pleading guilty to dishonestly obtaining about $208,000 from his clients.
Trevor Martin plead guilty in the District Court of NSW to three counts of dishonestly obtaining client funds.
An ASIC investigation found Mr Martin, who worked for The Salisbury Group and AMP-owned Charter Financial Planning Limited, dishonestly obtained money between 2011 and 2015 by not putting clients' funds into investment opportunities as promised.
He used the money for his own personal expenses and other purposes, ASIC said on Tuesday.
Mr Martin will be sentenced on August 16.
The charge of dishonestly obtaining property by deception carries a maximum penalty of 10 years in prison.
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