ASIC has permanently banned property developer Trent Simon Giumelli, of Noosa, Queensland, from providing financial services after finding that he demonstrated serious incompetence and irresponsibility, a disregard for the law, and a lack of fairness, professionalism and trustworthiness.
Through companies collectively known as the Giumelli Group, Mr Giumelli conducted real estate wealth coaching programs and offered members of those programs opportunities to invest in property developments.
ASIC found that Mr Giumelli contravened the law by operating unregistered managed investment schemes and carrying on a financial services business without an Australian financial services license for eight years, during which he raised around $48 million from members of the public across 27 projects.
ASIC found that Mr Giumelli has not complied with financial services laws, and that it had reason to believe that he is not adequately trained or competent, and is likely to contravene financial services laws. Mr Giumelli has been permanently banned from:
- providing any financial services
- performing any function involved in the carrying on of a financial services business (including as an officer, manager, employee, contractor or in some other capacity), and
- controlling an entity that carries on a financial services business.
The banning order took effect from 6 May 2026.
Mr Giumelli's banning has been recorded on ASIC's Banned and Disqualified register.
Mr Giumelli has the right to appeal to the Administrative Review Tribunal for a review of ASIC's decision.
Background
Between 8 November 2024 and 21 August 2025, Mr Giumelli was an authorised representative of Wicklow Fund Services Pty Ltd (previously known as Lanterne Fund Services Pty Ltd). Since 17 October 2025, Mr Giumelli has been an authorised representative of Wholesale Securities Pty Ltd.
