Pearson, based in New Zealand, is the sole director and shareholder of Colisa, which traded as Anmar Financial Consultants. She was an authorised representative of Ballast Financial Management from November 2007 to October 2013 and Colisa was a corporate authorised representative of Ballast during this period.

The found that Pearson engaged in conduct that was dishonest, including creating documents to disguise the fact that client money was paid into Colisa's bank account without the relevant client's authority. The watchdog, which said it was still investigating the behaviour of Pearson, added that she engaged in deceptive conduct, in that she misled Ballast and clients into believing funds were placed in particular investments, when in fact, this was not the case.

Pearson has a right of appeal.

“If a financial advisor engages in dishonest conduct, ASIC will remove them from the industry,” said ASIC commissioner John Price. 

The permanent ban follows that of Amanda Ritchie, a former financial advisor and former authorised representative of Westpac subsidiary Magnitude Group, after ASIC found she falsely created bank statements among other offences.