More than 300 member firms have already registered their
interest in Aspire, our new financial adviser development
programme, and I am pleased to say that we have 88 aspiring
financial advisers prepared to commence the programme over the next
The response and interest in just five weeks demonstrates both
the need and demand for new talent and succession planning.
Together with our accredited training partner, FWD Training
& Consultancy, we are in discussions with hundreds more
interested firms, and are planning to deliver the programme to
additional groups later in the year.
We have been delighted with the response and the commitment to
developing the next generation of personal finance
For more details and information, visit www.fwdtraining.com/pfs
Registrations of interest can be made by contacting firstname.lastname@example.org
The Spring Budget delivered very little for the financial advice
profession. As expected, the Government pressed ahead with its
reduction to the Money Purchase Annual Allowance, while the 25% tax
charge on Qrops transfers will put further pressure on this
Media and sector discussion has focussed on the measures
targeting the self-employed, and it wasn't surprising to see the
Government quickly backtrack from controversial plans to hike
National Insurance contributions.
For more on the Budget, you can read our briefing, which
provides background and high level analysis of the Chancellor's
Budget, including key policy announcements and stakeholder
Earlier this month I travelled to Hong Kong and Singapore to
engage with, and seek feedback from, some of the Personal Finance
Society (PFS) and Chartered Insurance Institute's (CII) growing
number of overseas members.
Part of my extended role within the CII includes developing the
organisation's international proposition.
The CII has more than 13,000 members located overseas, while the
PFS has close to 700 international members located across the
globe. We expect these numbers to grow in the coming years as
labour mobility escalates and the international drive for higher
professional standards continues.
We already have strong links with Asia, with two regional
offices in Hong Kong and India in place to support our growing
membership base across the region.
It was a pleasure meeting with local officials, regulatory and
other bodies, as well as more than 80 financial advisers across
Hong Kong and Singapore, who mostly serve the expat community
They were extremely engaged with developments in the UK
financial advice sector, and while Brexit was a hot topic of
conversation, there was also significant interest in FAMR and the
UK regulatory environment, as well as PFS initiatives such as our
ScamSmart and apprentice development programmes.
During my visit it was clear that there is demand from members
to extend the PFS proposition of guidance and CPD, as many
countries continue to go through their own versions of RDR. We are
committed to evolving our membership proposition to meet the needs
of a growing and more geographically dispersed membership base.
Isle of Man
Last week I travelled to Isle of Man to meet with the Isle of
Man Financial Services Authority and to speak with local media
about our series of campaigns aimed at eliminating the work of
scammers and fraudsters.
Manx Radio interview: Island IFAs join anti-scam
The most recent scam to hit the Isle of Man surfaced earlier
this month, when local residents reported that fraudsters,
purporting to be from HMRC, were telephoning residents and
'phishing' for personal and/or financial details. According to the
Isle of Man Office of Fair Trading, the fraudsters were very
convincing and used various scare tactics - for example, they
claimed they would take victims to court if they didn't settle an
Earlier this month the FCA revealed the results of a YouGov poll
of over-55s, which revealed that one in five were unaware that
being promised returns above the market rate could be a sign of
investment fraud. Only two in five thought they knew how to spot a
fraudulent investment opportunity.
Scammers continue to find new and innovative ways to dupe the
unsuspecting consumer, and so we are working more innovatively with
regulators and the broader sector to eliminate their impact.
About the Blog
In this blog Personal Finance Society CEO Keith Richards will be
keeping you up-to-date with all the Personal Finance Society news,
projects and initiatives that we have in the works.
Read past editions of the blog »