Backstage with Keith Richards – 12 October 2020

While speaking on a number of panels about the future for the profession, one of the most discussed themes is how Covid has created equality across generations with – for example – grandparents now more familiar with the technology which is used by their grandchildren. Having no option but to embrace technology to stay in touch with family and friends is likely to change the way business evolves with many firms clearly stating that they will not be going back to a pre-Covid operating model.

At the PFS we are already working on a series of technology 2021 sessions and good practice sharing to support members and their clients.

Levies/PII

As I write, I have just received confirmation of a meeting with HMT and FCA to discuss both regulatory levies and PII – I’ll update members further in due course.

World Financial Planning Week 2020

Last week the Personal Finance Society was actively involved in supporting World Financial Planning Week 2020.

It is an area where our members already add so much value and I thank all of you who contributed through our established pro-bono programmes of MoneyPlan, Forces MoneyPlan and My Personal Finance Skills, some great feedback.

More than 900 financial advisers currently deliver the Personal Finance Society’s My Personal Finance Skills’ free financial education workshops to schools across the country to help students understand more about money and leave school ‘life-ready’.

One of our Financial Planning Panel members kindly introduced me to the organisers of the Duke of Edinburgh Awards who we have discussed possible inclusion of My Personal Finance Skills.

More than 100 financial advisers already offer free financial guidance to Armed Forces personnel and veterans through the Personal Finance Society’s Forces Moneyplan initiative and work with the Armed Forces Charities. Forces Moneyplan is designed to ensure recipients are placed in a better-informed position in respect of their overall financial well-being and less vulnerable to misinformation and scams.

We asked these members to shout about what they do to increase awareness of the guidance they offer. We also encouraged all advisers to offer existing clients, family or friends a free guidance session during the week. Discover the impact this work has had by searching on social media using #forcesmoneyplan, #mypersonalfinanceskills and #WFPD2020.

We always welcome financial advisers looking to get involved in our pro-bono work. You can sign-up to deliver My Personal Finance Skills sessions in schools or to offer financial guidance via Forces Moneyplan today.

PFS Awards 2020/21

With just three weeks to go until our very first virtual ceremony (commencing at 16.30 and concluding at 17.00 on 3 November), I’m delighted to reveal that I will be joined on (the virtual) stage by our host Stephen Mulhern.

Stephen is of course a prime-time television presenter – best known for hosting the new Catchphrase and spin-off shows for Dancing on Ice and Britain's Got Talent – and will guide us through the ceremony as we hand out awards to what is possibly the strongest shortlist yet ever.

We’re retaining a celebratory feel and are encouraging everyone to watch the awards with their teams and colleagues (socially distanced in the office or online). We’d love to see everyone dressing up too – we’re offering £100 to your chosen charity to the person we judge best dressed! Simply share your photos on social media using the hashtag #pfsawards 

Register your free place now: https://pfsawards.org/awards-ceremony/

Best Wishes,

Keith