ASIC Bans Former Venture Egg, Reilly Financial and Interprac Adviser for Four Years

The Australian Securities and Investments Commission (ASIC) has banned Victorian financial adviser Nicholas Hogan from the financial services industry for four years. The regulator found that Hogan failed to act in the best interests of clients, provided inappropriate advice, and engaged in misleading, deceptive, and unprofessional conduct.

Specifically, ASIC found Hogan impersonated other advisers, knowingly had statements of advice (SOA) prepared by others in his name, and presented SOAs in the name of other advisers to clients of Venture Egg and Reilly Financial with minimal client interaction. He advised four clients to switch their superannuation funds using a process that outsourced key components, including fact-finding and risk assessments, to an unlicensed third party.

The advice was based on a template SOA that predetermined outcomes, recommending clients move existing funds to Netwealth while retaining a standard $10,000 in each old fund for insurance. The banning order took effect on 18 December 2025.

Hogan initially sought a review of ASIC's decision from the Administrative Review Tribunal (ART) on 22 December 2025, along with applications for a stay and confidentiality orders. He later withdrew these applications, and the ART confirmed the matter was dismissed.

Hogan began his professional year training in February 2022 under the supervision of Ferras Merhi. He became an authorised representative of Interprac Financial Planning Pty Ltd under Venture Egg's corporate authority on 2 September 2022, before moving to Reilly Financial on 3 March 2023.