Alisdair Walker has quit his role as Personal Finance Society (PFS) financial planning panel chair following its fall out with the Chartered Insurance Institute (CII).
The ongoing dispute between the PFS and the CII is a result of the latter's 21 December decision to appoint a majority of directors to the PFS board.
The CII cited "significant governance failures" as the reason for the takeover, with concerns including lack of rotation on PFS board, lack of collective board decision making, and failure to act in line with the Articles of Association approved by PFS members.
Former PFS president Caroline Stuart denied the claims in her resignation letter last week and stated the CII was instead pursuing "the only avenue remaining" for it to access desperately needed funds to stop it failing.
Walker - who became financial planning panel chair last March - today said in his own resignation letter that he was "deeply disturbed by the recent behaviour of the CII".
The Chartered planner is managing director of Leicester-based Handford Aitkenhead & Walker and had volunteered with both the CII and PFS for almost a decade.
"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 also criticised the PFS however, notably its treatment of Stuart.
"I have read Caroline Stuart's harrowing account of her time as president of the PFS board and I cannot support an organisation who feels it is fair or right to apply those kind of pressures to the volunteer workforce it depends on," he stated.
Walker said it was vital that all PFS members were "concerned and interested in what is happening at the CII head office".
He warned: "It may seem 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.
"Financial planning is a fantastic profession and I want to be part of the movement that drives it forward."
