So, the Personal Finance Society (PFS) is back in the news again. This time, it’s with the sudden – yet unsurprising – exit of interim CEO Don MacIntyre. Now, if you’re keeping up, this isn’t just another departure; it’s the latest twist in the ongoing saga between the PFS and its not-so-affectionate parent, the Chartered Insurance Institute (CII).
A Tense Goodbye (Or, the CII Tightens Its Grip)
MacIntyre, who joined the PFS in 2022, was apparently well-liked and respected by members, which of course means he didn’t quite fit the CII’s vision of things. With a PFS AGM just around the corner and fresh after the unceremonious removal of four PFS directors last month, the timing of his departure couldn’t be more “coincidental.” It’s almost as if the CII wanted a little extra room on the PFS board – and by “a little,” we mean complete control.
It’s worth noting that MacIntyre’s job description had been to “evolve working practices and governance structures.” Translation? Try to keep the PFS on track while avoiding the CII’s latest attempts to fold it completely under its wing. And yet here we are, one CEO down and with the CII’s influence over the PFS board stronger than ever. How reassuring.
AGM: Voting Matters, Apparently
Financial planners, if there’s ever been a time to make your voice heard, it’s now – or so we’re told. With the AGM coming up on 11 November, some members, like adviser Alasdair Walker, are urging everyone to show up and vote to protect what’s left of the PFS’s independence. The CII, meanwhile, seems blissfully unbothered, pushing its “additional strength” narrative for its board appointments. Yes, nothing says independence quite like being run by your parent company’s executives.
But hey, maybe this AGM will be the chance for members to finally draw a line in the sand. Or, as some might fear, it could end up being a bit like rearranging deck chairs on the Titanic.
A Word from the Academy of Life Planning
Now, while the CII and PFS hash it out, we at the Academy of Life Planning remain committed to the simple idea that planners deserve a network that actually has their backs. We think financial planners should be able to pursue their work without looking over their shoulders, wondering if another round of “governance evolution” is about to drop. Our aim? Keep things transparent, independent, and entirely focused on helping you serve your clients.
So as the PFS prepares for yet another reshuffle, we’ll continue offering resources that support planners to grow their practices with a bit of confidence – and no need to dance around corporate power struggles.
Conclusion: A Chance to Stand Up or Stand By?
The PFS, as it stands, may be at a crossroads, but we’re not holding our breath for an easy fix. This AGM offers members a shot at making their voices count, but given the CII’s rather firm grip, one has to wonder how much sway is really left.
In the meantime, let’s keep the focus on what matters: supporting financial planners to work independently, serve their clients well, and navigate the twists and turns with a bit of perspective – and maybe even a chuckle.
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