Injured and recovering service personnel and veterans will be
offered free financial guidance under a new initiative launched by
the UK's largest professional body for financial advice and related
The Personal Finance Society will launch Forces MoneyPlan on 27
June, coinciding with Armed Forces Day, which offers an opportunity
for the British public to pay tribute to the contributions of
currently serving troops, service families, veterans and
Launched in conjunction with the On Course Foundation, the
initiative will support injured and recovering service personnel
and veterans through one-on-one financial guidance sessions
delivered by qualified financial advisers across the UK.
PFS chief executive Keith Richards said more than 100 members of
the Personal Finance Society had already registered to donate their
time and expertise to the programme.
"Our armed forces make an incredible contribution to the safety
and security of our country and it is only fair that we offer them
our support in times of need," he said.
"The response from our members, many of whom are ex-servicemen
and women themselves, has been overwhelming."
"They are keen to give something back to the community, and
throughForces MoneyPlan, are able to offer their gratitude to those
who have distinguished themselves in our armed services."
On Course Foundation is a charitable organisation that supports
the recovery of wounded and injured service personnel and veterans,
by introducing them to the game of golf and educating them about
employment opportunities within the golf industry.
On Course members, who in many cases would not have access to
the services of a professional financial adviser, will be offered
guidance on issues including pensions, insurance, mortgages,
savings and investments as part ofForces MoneyPlan.
On Course Foundation managing director Alistair McKay Forbes
said the new initiative was developed to address the increasing
need for ex-service personnel to gain access to financial
"Since inception, but increasingly following greater active
engagement of our armed forces in the Middle East, the Foundation
has become aware that many veterans are in receipt of substantial
sums of money as a result of either payments from the Armed Forces
Compensation Scheme or insurance-based payouts," he said.
"In many cases, the amounts involved are of a level that the
veteran has never had to contemplate or manage in the past. This
has placed them in a position of vulnerability, ranging from
sub-optimal advice and inappropriate advice that doesn't meet the
long term interests of the veteran, through to more blatant
fraudulent activity and financial scams."
"I am delighted that the Personal Finance Society has joined us
in developing a programme where veterans can be placed in a less
vulnerable and better informed position via receipt of a free
consultation with one of its members."
PFS members can register their interest in donating their time
to Forces MoneyPlan by visiting: www.thepfs.org/forcesmoneyplan