A Hobart financial adviser who took $2.4 million from clients and used it to fund his gambling has been permanently banned from the industry.
Daniel Joseph Noonan pleaded guilty in the Supreme Court of Tasmania to 97 counts of fraud and 10 counts of stealing over the theft of $2,495,117 over nine years from 14 clients.
He was sentenced in June to six years and six months jail, half of it without the prospect of parole.
The Australian Securities and Investments Commission announced on Friday his permanent ban from the credit and financial services industries.
"ASIC will act to remove people from the ... industry who act dishonestly and breach the trust of their clients," deputy chairman Peter Kell said in a statement.
Noonan worked for AMP Financial Planning and ASIC said he used the money to gamble or replace money he had stolen from others.
ASIC has the power to permanently ban someone without a hearing if the person is convicted of serious fraud.