Keith Richards, who stepped down as distribution director at Tenet today, has been named as the new chief executive of the Personal Finance Society (PFS).
He will take over from Fay Goddard who will step down in April after five years at the organisation's helm.
President of the PFS, Garry Hale, said, "Keith brings a wealth of experience and influence together with a commitment to raising levels of professionalism in the advice sector. Our members will benefit immensely from Keith's involvement."
Dr Sandy Scott, chief executive of the Chartered Insurance Institute (CII), said, "Working closely with independent executive recruitment consultants we identified a shortlist of exceptional candidates for this role. These individuals were subsequently presented to the PFS nominations committee who, I am delighted to say, unanimously chose to appoint Keith.
"He further strengthens my executive team and I anticipate his knowledge and experience will be invaluable during what is clearly a very challenging time for the retail investment advice sector."
Richards (pictured) said, "I am excited to be taking up this role as in the current financial climate consumers need advice they can trust more than ever before.
"I believe we are building a profession that can thrive and secure the confidence of the public and I am looking forward helping shape the future of financial planning."
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