Diversified dispute hits court
Diversified Investment Strategies Limited (DISL) shut up shop in 2014, after one of its two directors, Vicky Watson, took up a job with Fisher Funds Management.
Watson’s move came out of negotiations with Fisher Funds to buy Diversified Wealth Management Limited (DWML) and, ultimately, led to the dissolution of the financial advice firm.
Diversified embarked on the negotiations after they came under pressure from the Financial Markets Authority to close or merge the distressed KiwiSaver fund they managed (as part of DWML).
However, Diversified’s other director, Norman Stacey, was dissatisfied with the outcome of the negotiations and the final agreement, which meant the end of DISL, and initiated legal action.
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