The Personal Finance Society boss has urged members to judge the body “by the future, not by the past”.
PFS president and chair, Carla Brown, said the trade body has turned a corner and moved on since the appointment of a new board this year.
Her comments come after concerns were raised about a possible “conflict of interest” in the way the board of the PFS and Chartered Insurance Institute interact.
Brown said: “The PFS and CII Group turned a corner in May.
“The challenges that had been encountered over the past few years are over; we have a new board that has moved on. I appreciate that it may take time for some of our members to do the same.
“They need us to demonstrate through our words and actions that we’re now in a different place. I believe we’ve started to do that.”
In a LinkedIn post, Alasdair Walker, former chair of the PFS financial planning committee, questioned how much PFS members were expected to pay to the CII.
He said: “The PFS board, now majority CII employees, gets to choose how much money the PFS is obliged to pay to the CII.”
In response, board member Kate Gannon said the annual recharge the PFS pays to the CII covers qualifications for members as well as operational services including HR and IT.
Brown told FT Adviser: “Any organisation can encounter conflicts of interest, and the same is true with the PFS, but these are being actively identified and managed in line with governance best practice.
“Today, I’m making a personal plea to those members who continue to remain unconvinced. Judge us by the future, not by the past.
“Come and speak to us — starting at our AGM — so we can all move forward together.”
Brown said changes happening at the PFS include its Pathway to the Profession initiative, announced in July, which committed £1mn to attracting new people to the sector.
Meanwhile last week, the trade body assured it is a “financially resilient organisation” after its latest accounts showed it recorded operating losses of £1.45mn in 2024.
The PFS AGM will take place on Thursday (September 25) from 4pm in Solihull and can be attended virtually.
tara.o’connor@ft.com
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