The chair of the Personal Finance Society’s financial planning panel has resigned over the recent behaviour of the Chartered Insurance Institute.
In a statement today (January 9), Alasdair Walker, chartered financial planner at Handford Aitkenhead & Walker, said he has been “deeply disturbed” by the recent behaviour of the CII.
“I do not feel that I can carry on supporting the PFS as a volunteer whilst there are so many unanswered questions about the CII's hostile takeover attempt,” he said.
Walker added that after reading former PFS president Caroline Stuart’s “harrowing” account of her time on the board, he cannot carry on supporting the PFS as a volunteer while there are so many unanswered questions about the issue.
“All PFS members should be concerned and interested in what is happening at CII head office,” Walker added.
“It may seem like boardroom politics and detached from your day job, but it has the potential to severely impact the future of our profession and actively work against the hard work we are all doing.”
Walker said he has volunteered with the CII and PFS for most of the last decade, first as a council member at his local insurance institute, and more recently as a panel member and chairperson of the financial planning panel.
“Financial planning is a fantastic profession, and I want to be part of the movement that drives it forward,” he said.
“I genuinely believe the panel, and the power project, has done and is doing great things.”
Last month, the CII announced it was to appoint a majority of directors to the PFS board, alleging failed mediation attempts and poor governance issues.
The institute also appointed three institute directors to the PFS board with immediate effect.
Earlier today, a member director at the PFS hit back at the allegations, saying she personally refutes what the CII has said, and that it has no evidence of her, and the PFS’s failures.
The CII has been contacted for comment.
sally.hickey@ft.com
