The Personal Finance Society (PFS) is to be reviewed and restructured to accommodate and adapt to changes outlined in the retail distribution review.
As part of the changes, The Chartered Insurance Institute (CII) has announced PFS chief executive Time Eadon will leave to pursue other interests in financial services.
Commenting on Eadon’s departure, Sandy Scott, chief executive of the CII, says: “We are very grateful for the tremendous work Tim has done for the PFS. He now leaves the PFS financially sound and with its membership rising.”
During Eadon’s time at the PFS, membership has grown to 24,500, while the number of Chartered Finance Planners has reached 1,400.
Eadon comments: “I helped oversee the transition of the PFS from an embryonic body to what it is today – a dynamic strategic partner for corporates and a major influencer in shaping the industry's future.
“I look forward to pursuing the next chapter of my career within the financial services sector. I would like to thank my fellow PFS colleagues and board members for their support.”
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'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’
Only 9,486 applied for the benefit in 12 months