The Personal Finance Society (PFS), the professional body for the financial planning profession in the UK, has appointed Don MacIntyre as interim CEO.
Last month the PFS board said it was recruiting an interim CEO after reinstating the role which was removed by the Chartered Insurance Institute (CII) a year ago.
The reinstatement of the position was demanded by PFS members in a consultation after a failed attempt by the CII to de-register the PFS as an independent body last year and take it under full control along with the four other societies the CII already fully funds and operates.
MacIntyre is starting his role this week and joins the PFS following a stint leading the UK Cyber Security Council, a self-regulating body for the UK’s cyber security profession.
His remit will be to provide executive leadership as the professional body evolves its working practices and governance to further its members’ interests and the positive reputation of personal finance and the financial planning profession, the organisation said.
The PFS added he will also work with the board and an executive search consultancy to secure a permanent CEO and undertake a smooth transition in leadership early in 2023.
The PFS has a number of priority programmes for the remainder of 2022. These include:
- promoting the PFS strategic plan and delivery of a successful Annual General Meeting in September 2022,
- enabling the PFS to deliver the Festival of Financial Planning this November,
- supporting the board to ensure that the PFS continues to meet its purpose and, through the CII, is able to provide members with their Statements of Professional Standing, contemporary training and chartered status.
The CII itself is undergoing a leadership overhaul after announcing in April that Alan Vallance will be joining as its new CEO from the end of this month.
He succeeds interim CEO Jonathan Clark who has filled the role since previous CEO Sian Fisher stood down on 31 March of this year.
Fisher stepped down after more than six years at the helm of the professional body. Her departure was timed to cover the body’s membership consultation – Shaping the Future Together.
Maintaining public confidence
MacIntyre said: “The PFS is a professional body that continues to grow and evolve, to support members’ ability and professionalism in providing financial advice and planning services to clients.
“Maintaining public confidence and a laser focus on members’ interests and the means by which the PFS can meet their needs, efficiently, effectively, and consistently will be a significant part of my work in the coming months.
“The financial planning profession has an important role to play in an increasingly challenging economy and I look forward to helping further its ability to do so.”
Sarah Lord, president of the Personal Finance Society, added: “The board is delighted that Don will bring his varied expertise and extensive experience to this important role.
“Not only will he represent and advocate for PFS members’ interests, he will also work closely with the board to preserve PFS assets and enhance our governance.”
Jonathan Clark, outgoing interim CEO of the CII, noted that one of the key findings from the Shaping the future together consultation was that members wanted continued collaboration between the CII and Personal Finance Society (PFS) boards and a new PFS leader within the group.
“This was both welcomed and supported by the CII board, so I am delighted the PFS Board have recruited Don MacIntyre as interim PFS CEO,” he said.
“We look forward to closer collective engagement, so we have a united understanding of the challenges the professions face. We can then deal with those challenges in a simple clear way; a way that – without compromise – always has our membership at heart.
“The PFS is an absolutely critical part of what we do – its 39,000-strong membership is highly valued and is a great voice for advice, especially at a time when the cost-of-living crisis is impacting even the most resilient among us.”