FSC collapse spectacularly bad timing

With the Financial Advisers Act review in full swing, it seems more than unfortunate that the FSC is not there to make a clear argument of a united industry.

It is believed that talks are under way to reunite the association but it will have to overcome a significant amount of damage if it is to get back on its feet.

The FSC seems to have been in a period of tumult since 2014, when it closed its Wellington office and made redundant Deborah Keating and Marilyn Max, both well-regarded in the industry.

The last submitted accounts in 2014 show a deficit of assets and the FSC acknowledged it had had to pay the costs associated with those redundancies and breaking the lease on its Wellington premises.