The Personal Finance Society (PFS) reported a pre-tax loss of £660,000 in 2024 compared to a pre-tax profit of £120,000 the previous year, according to latest figures.
The trade body's Strategic and Financial Review Year ended 31 December 2024 stated membership numbers dipped to 38,703 - which was 962 fewer at the end of 2024 than at the start of the year. The document stated that despite the movement in member volume, total membership revenue of the PFS for 2024 increased by £450,000 to £7.66m (2023: £7.21m). "Around half of the increase was attributed to the increase in the value of members' fees billed as members advance their membership level," the document stated. It added that the remainder of the increase related to an "adjustment to the l...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
