Around 10% of Personal Finance Society (PFS) members have voiced their concerns about the Chartered Insurance Institute’s (CII) appointment of three directors to the PFS board.
The figures were released by PFS interim CEO Don MacIntyre, who issued a statement to coincide with the ending of the extended member consultation period following the CII’s controversial takeover which was met with an angry response from PFS leadership.
MacIntyre thanked the thousands of PFS members who have contributed to the consultation, including those who participated in webinars, completed the survey or wrote to him directly.
“Approximately 10% of PFS members and 15% of PFS corporate members, from a total of 40,000, responded to the survey,” MacIntyre said.
“It is encouraging to see the passion and strength of feeling PFS members have for their representative body. It is clear that there are strongly held views and significant concerns arising from the CII’s action, many of which I share.
“I will now take the next week to analyse and consider the feedback received, before relaying the views of the PFS membership to both the PFS and CII boards. It is my top priority to bring stability back to the PFS following a period of significant turbulence imposed upon us.”
Reinforcing points he made last week, MacIntyre added that the continued impasse is doing damage to both the CII and PFS.
“Both our members rightly demand and expect us to do better than this,” he said.
“We must listen to what they say and find a way to move forward based on what is in the best interests of both our organisations, while being transparent with our memberships. I have a duty to represent PFS members’ best interests.”
