Personal Finance Society  

CII widens PFS’ Richards role

CII widens PFS’ Richards role

Keith Richards, chief executive of the Personal Finance Society, has been tasked with increasing engagement with the Chartered Insurance Institute.

The new role will see Mr Richards continue to head up the Personal Finance Society but he is now also tasked with boosting engagement with the Chartered Insurance Institute, parent body of the PFS.

Mr Richard’s wider remit is part of the CII’s strategic plan, which was unveiled earlier today (1 November) to boost trust in the industry, push professional standards and make learning more accessible.

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Speaking to FTAdviser, he insisted the widening scope of his role – his new additional job title is managing director of engagement at the Chartered Insurance Institute - would benefit Personal Finance Society members rather than be of detriment to them.

He said: “There are now much more joined up initiatives (at the CII) that will benefit financial advisers.

“I will be bringing together communications and PR packages for our organisation. We will capitalise on the synergies.

“For example, where there is a protection gap we are looking at an initiative to tackle it. This overlaps with insurance and financial advisers. That is where you get an obvious link.

“Advice isn’t just about financial planning. It is about much broader responsibilities to meet the needs of humans.”

At a launch event for the CII’s strategic manifesto at The Gherkin in London this morning (1 November), Sian Fisher, chief executive of the CII, explained why she had decided to streamline and simplify the organisation she took over the reins at earlier this year.

As time has passed the structure of the CII organisation has become over-complicated and Ms Fisher said more focus needed to given to long-term and future issues such as Generation X, finTech and the new asset types that need to be insured.

As part of the manifesto, she pledged to look at ways to attract ambitious young people as they leave school, college and university to join the industry plus explore new ways to ensure learning is relevant and accessible.

To build public trust, Ms Fisher said the CII will continue to invest in raising awareness and recognition of what Chartered status represents and push that level as the pinnacle of professionalism.

Ms Fisher also said the CII wanted to be seen as being at the front of thought leadership. 

emma.hughes@ft.com