The Financial Services Council (FSC) says it has started looking for a successor to CEO Sally Loane, who is leaving at the end of the year.

Ms Loane announced her decision to step down last Friday, after leading the peak body for seven years.

“[She] strengthened the FSC’s contributions in a range of important policy areas,” Chairman David Bryant said.

Ms Loane says she has been privileged to lead the FSC, developing an array of initiatives to support members in the last several years against a backdrop of regulatory changes.

These initiatives include a white paper on ways to take the advice industry forward, holding the inaugural Women, Super & Wealth Summit and setting up of two life insurance codes over six years.

“If one learning stands out, it is how financial independence is a life-changing factor for women, and the role has given me the opportunity to communicate this message,” Ms Loane said.

“As a member of the NSW Government’s Council for Women’s Economic Opportunity, I have seen close up how important it is to close the gender pay and superannuation gaps, because when women are financially independent, they have choices.”