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

Advisers urged to remain 'alert' as LPA financial misconduct complaints rise

Advisers urged to remain 'alert' as LPA financial misconduct complaints rise

Alleged LPA financial misconduct complaints rose to almost 12,000

Sophia Panayi
clock 12 October 2026 • 3 min read
News editor's view: Taxing questions for advisers

News editor's view: Taxing questions for advisers

The news editor's Friday Night Takeaway from 9 October

Isabel Baxter
clock 09 October 2026 • 2 min read
Why the new chancellor must rebalance growth and consumer protection

Why the new chancellor must rebalance growth and consumer protection

'Healy should re-empower the FCA to unleash the full potential of Consumer Duty'

James Daley
clock 09 October 2026 • 3 min read