The Personal Finance Society (PFS) and Chartered Insurance Institute (CII) have published a joint statement which appears to bring to an end the year-long dispute between the bodies.
The organisations said they had reached “an agreement in principle on a range of matters” which will enable them to “move past” the controversial 12 months.
They added they were still discussing the “finer points of the terms” with the aim to update members of both bodies in 2023.
The dispute began last year with a failed attempt by the CII to de-register the PFS as an independent body and take it under full control along with the four other societies the CII already fully funds and operates.
The contentious move prompted the resignation of long-time PFS CEO Keith Richards and the fallout has triggered a leadership overhaul at both organisations, along with an extended consultation period by the CII.
Sian Fisher stepped down as CEO of the CII after more than six years at the helm of the body earlier this year following the failed takeover and subsequent member consultation.
She was initially replaced by Jonathan Clark as interim CEO in January, with former CEO of the Royal Institute of British Architects (RIBA) Alan Vallance taking on the position permanently from 30 August.
Meanwhile last month the PFS appointed Don MacIntyre as interim CEO.
In the statement the organisations said: “Following full, detailed, and constructive discussions, the PFS and the CII have this week reached an agreement in principle on a range of matters. The progress has been aided by the appointment of new CEOs at both the PFS and CII.
“There has been ongoing dialogue and recent disagreements and both parties now agree that they have reached a point where they can collaboratively move past these.
“The collective aim is to be able to update CII and PFS members on the recommendations of both organisations’ leadership in the new year.
“The PFS and the CII leaderships believe this agreement in principle will enable a positive forward-looking approach to serving all of their members.
“The finer points of the terms are still being discussed and are therefore ongoing and confidential. Neither party will provide further details beyond this statement at this stage.”