The corporate watchdog has banned former Lighthouse Partners financial adviser and director Timothy Archibald from providing financial services for a decade, after finding the Redcliffe, Queensland, adviser was involved in fees‑for‑no‑service conduct.
ASIC said Lighthouse Partners charged 14 clients between January 2022 and October 2023 for services that were not provided. During that period, Mr Archibald was the firm’s chief executive, a director, shareholder and practising adviser. The regulator found he became aware of the conduct but did not promptly report it to the Australian financial services licensee Crown Wealth Group, failed to immediately and adequately investigate, and did not put in place sufficient systems to stop the behaviour recurring. He eventually reported the issue.
ASIC also said it had reason to believe Mr Archibald is not a fit and proper person to work in the sector, including because he benefited as a shareholder by not refunding an estimated $81,652 in fees plus interest to affected clients. According to ASIC, he ignored warnings that merely offering a review to ongoing service clients was inadequate, and sent fee disclosure statements acknowledging the misconduct had occurred.
The 10‑year ban, which took effect on 30 June 2025, prevents Mr Archibald from:
– providing any financial services
– performing any function involved in carrying on a financial services business (including as an officer, manager, employee or contractor)
– controlling an entity that carries on a financial services business.
Mr Archibald applied to the Administrative Review Tribunal on 2 July 2025 to review ASIC’s decision. On the same day, he sought orders to stay the ban and to restrain ASIC from publicising it, but withdrew that application on 1 October 2025. The ban has been recorded on ASIC’s banned and disqualified register.
Fees‑for‑no‑service was a central theme of the banking royal commission, which ran from 2017 to 2019. ASIC issued guidance on remediation in 2018 via Information Sheet 232.
Lighthouse Partners Pty Ltd operated as a corporate authorised representative of Crown Wealth Group Pty Ltd. ASIC cancelled Crown Wealth Group’s licence on 13 March 2024 after the licensee entered voluntary administration.
The action against Mr Archibald follows other enforcement stemming from the same issues. On 30 June 2025, ASIC banned former Lighthouse Partners director and adviser Kiriley Roper for 10 years in relation to fees‑for‑no‑service, and banned former Crown Wealth Group director Andrew Moore from performing functions in, or controlling, a financial services business for three years for failing to report the conduct.
Mr Archibald has been contacted for comment.
