PFS members reveal how they are working
Publication date:
18 May 2020
Last updated:
25 February 2025
Author(s):
Personal Finance Society
A Twitter poll of the Personal Finance Society’s membership showed at the end of April approximately 7 per cent had been furloughed, 73 per cent were OK working from home and roughly 12 per cent were struggling with carrying out their roles from home.
Of the 78 PFS members who took part in the poll, 6.4 per cent reported they were still having to go into their office to continue to serve their clients during the coronavirus pandemic.
PFS members revealed how they are continuing to work one month after the FCA announced what steps the financial advice profession should take to facilitate working from home, including providing suitable IT and equipment to enable remote working. (https://www.fca.org.uk/news/statements/work-travel-responsibilities-senior-managers)
Keith Richards, chief executive of the Personal Finance Society, said: “Financial advisers are clearly following government and regulatory guidance to slow the spread of the coronavirus while still carrying out vital work on behalf of their clients.
“The Personal Finance Society will continue to work with government and the Financial Conduct Authority to ensure the latest guidance on how to protect and continue to serve clients is shared with our members.
“We will also continue to support members who have been financially impacted by Covid-19 and want to make sure the profession is equipped with the skills and knowledge they need to be best able to assist consumers in the months and years to come."
On 30 April the professional body announced a 20 per cent discount on digital learning materials is available for members and who as a result of Covid-19 have been furloughed or seen an equivalent material reduction in their income and their learning and assessment costs are not funded or subsidised by their employer.
A total of 25 members of the Chartered Insurance Institute who have been furloughed contacted the professional body and received a discount code to allow them to continue their professional studies within the first 48 hours of the hardship fund being announced.
Those who are facing financial hardship due to being made redundant or working for a business that has collapsed as a result of Covid-19 are also eligible for discounts and financial assistance on digital learning or membership.
Further information about the support available, and how to apply for the discount, can be found here: https://www.cii.co.uk/learning/qualifications/financial-assistance-during-covid-19/
This document is believed to be accurate but is not intended as a basis of knowledge upon which advice can be given. Neither the author (personal or corporate), the CII group, local institute or Society, or any of the officers or employees of those organisations accept any responsibility for any loss occasioned to any person acting or refraining from action as a result of the data or opinions included in this material. Opinions expressed are those of the author or authors and not necessarily those of the CII group, local institutes, or Societies.
