Personal Finance Society  

PFS adds three advisers to financial planning panel

PFS adds three advisers to financial planning panel
 Keith Richards, chief executive of the Personal Finance Society

The Personal Finance Society has added three advisers to its financial planning panel which offers guidance and best practice to its members. 

The professional body's financial planning practitioner panel has up to 12 members and a chairman who serve for three years producing workshops, good practice guides and conferences. 

New panelists Ricky Chan, director and chartered financial planner of IFS Wealth & Pensions Ltd, Natalie Wright, chartered financial planner and director of Mazars Financial Planning Ltd, and Tamsin Caine, head of financial planning at Smart Financial Planning, will be appointed next week. 

The panel was established in 2017 and in the last 12 months has published good practice guides on client experience, client acquisition and engagement and help with first client meetings. 

Keith Richards, chief executive of the PFS, said said he was "extremely grateful" to the panel members for volunteering time and expertise "for the benefit of others".

Sharon Sutton, former president of the PFS and chairwoman of the panel, said: "All panel members are passionate about the power financial planning has to genuinely change people’s lives.

"We are very pleased to see three young, but accomplished, practitioners add their experience and vision to help develop content that will support fellow professionals improve the outcomes for their clients.'

Incoming panelist Ricky Chan said the panel will help technically competent financial advisers become "truly great financial planners".

He said: "It’s common for firms to have its own advice processes, which may have evolved from traditional product-centred 'sales processes' from old life companies and outdated networks working in the pre-RDR commission world.

"It may still be 'working well' and helping to deliver profit to firms. As those advisers and advisory firms with bigger ambitions will realise, to stay at the forefront of our profession and deliver true lifestyle financial planning, we have to be client-life centred."

Mr Chan said lifestyle financial planning is about marrying a client’s life with their money.

He added: "It is about working with clients to help them discover, understand and achieve their aspirations and lifestyle without fear of running out of resources.

"Financial planning processes evolve over time, so by sharing good practice, this allows firms to incorporate them and together we improve as a profession.

"My understanding is that the panel’s focus is to continue helping more of our profession become great financial planners, bring together inspiring and engaging power workshops and conferences, and producing more good practice guides." 

rachel.mortimer@ft.com 

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