PFS breaks 250,000 barrier for the first time

2 September 2009

Chartered & Professionalism responsible for membership milestone

The Personal Finance Society (PFS) has cited an acknowledgment by the profession of its desire to raise standards as the reason for its increase in membership. Figures released today show that it has broken through the 25,000 members' barrier for the first time since its creation in 2005.

The value of Chartered status was also a factor. Recognition of the Chartered designation by consumers is believed to be responsible for a surge in Chartered members over recent months. There are now over 1,700 Chartered Financial Planners and almost 250 Chartered Financial Planning firms.

Fay Goddard, chief executive of the PFS, said: "Against the background of an unprecedented global financial crisis it’s reassuring to see our industry react so positively to calls to raise standards. With few exceptions professionalism has been embraced across the sector, clearly demonstrating the industry’s commitment to rebuilding consumer confidence.

"Evidence of this is borne out by the response we have received to our inaugural PFS Chartered Awards. We’ve been impressed by the quality of submissions and are looking forward to interviewing successful entries. Most of the categories are now closed but firms have until the 18 September to submit their entry for the Chartered Financial Planners of the year (corporate) award."

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