CII denies PFS governance failure claims are ‘baseless’

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CII denies PFS governance failure claims are ‘baseless’
Pexels/Matheus NatanHelen Philips, group chair at the CII,
BySonia Rach

In her statement, Philips also said the new directors bring “immense professionalism” to the PFS board, and are focused entirely on protecting and serving PFS interests.

“The CII group board recognises that PFS members have important questions about the appointment of further institute directors, and we will ensure further opportunities are provided for them to be asked and answered over the consultation period,” she said. 

“It is essential that PFS members are now consulted, and CII staff are already supporting this exercise as part of their normal, professional service to the PFS board and members.”

She added: “The CII group board remains deeply committed to its PFS members and - for the avoidance of doubt - there is no plan whatsoever to deregister the PFS.

“The CII group board sees no merit in such a move and wants to see the PFS flourish as a professional membership body. Nor will there be any change to any of the services received by PFS members.”

Philips said the PFS and CII are essential voices for the UK public in these challenging economic times and now more than ever, “all our time, energy and resources should be fully invested in building a stronger future, and delivering exceptional services".

Philips statement follows Caroline Stuart's resignation as president of the PFS yesterday (January 5).

Stuart said she had been working with the PFS on an entirely voluntary basis for close to eight years, both as a member and chair of the Paraplanner Panel and, since September 2018, as a member director and vice president of the PFS board.  

At the time, she said: “I, along with my fellow member directors, fully refute all allegations made by the CII. In my time as both a member director, vice president and president, my fellow member directors and I have taken our fiduciary responsibilities extremely seriously.”

In her statement on behalf of the CII, Philips said: “It is with sadness that we have heard of Caroline Stuart’s decision to resign as President of the PFS board. Undoubtedly, Ms Stuart’s role has been particularly challenging over the last few weeks and I wish her a swift recovery.”

The PFS and Stuart have both been approached for comment. 

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