Exclusive: Ex-PFS CEO Keith Richards on the CII's 'major mistake'

‘Deliberate and underhanded strategy by the CII’ exposed

clock • 5 min read

In an exclusive column for PA, former Personal Finance Society (PFS) chief executive (CEO) Keith Richards shares his opinion on the PFS' strained and volatile relationship with the Chartered Insurance Institute (CII)...

The CII's decision to publicly criticise the PFS board directors of governance failings, most of whom are practising member volunteers and offer their services pro-bono, was a major mistake and has exposed what many see as a deliberate and underhanded strategy by the CII to discredit members of our profession, simply to justify their desperate need to take control of PFS member assets and revenue. Whether this is true or not, perception is reality and the CII needs to recognise the reaction and feedback from across the profession. Caroline Stuart's resignation from the PFS last week, ...

To continue reading this article...

Join Professional Adviser for free

  • 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

Join

 

Already a Professional Adviser member?

Login

More on Your profession

The five-minute complaint and the five-day investigation

The five-minute complaint and the five-day investigation

GSI Group CEO on complaints, AI and the latest set of FOS reforms

Mark Buck
clock 12 August 2026 • 5 min read
Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin: The advice gap - an embarrassment of riches?

Andrew Goodwin
clock 12 August 2026 • 4 min read
New Talent Alliance launches financial advice careers guide

New Talent Alliance launches financial advice careers guide

Designed to attract new entrants into the profession

Sophia Panayi
clock 11 August 2026 • 2 min read