Alasdair Walker FPFS, the chair of the Personal Finance Society’s (PFS) Financial Planning (Power) Panel, has become the latest person to quit his PFS role.
The PFS has been hit with a wave of resignations from volunteer positions in recent times with PFS President Caroline Stuart resigning last week.
PFS regional committees have also seen a surge in vacancies over the past few months as a row between the PFS and parent body the CII worsens.
Mr Walker was chair of the PFS Financial Planning (Power) Panel which was instrumental in supporting the PFS’s Power training events which have developing Financial Planning skills for several years. He is also the founder of the OurPFS.co.uk campaign group which is fighting against intervention by the PFS parent body the PFS.
In a resignation statement Mr Walker, who is a Chartered Financial Planner, a Certified Financial Planner and a financial coach, said he had been volunteering with the PFS and CII for most of the past decade but was “deeply disturbed” by the recent behaviour of the CII.
This is his resignation statement in full: “I have volunteered with the CII and PFS for most of the last decade, first as a council-member at the local Insurance Institute, and more recently as a panel-member and chair of the Financial Planning (Power) Panel.
“My intention and motivation has always been this: Financial Planning is a fantastic profession, and I want to be part of the movement that drives it forward. I have worked with the PFS as they have the largest membership, and the most opportunity to make a positive difference.
“I genuinely believe the panel, and the Power project, has done and is doing great things. It has been described to me as the “Jewel in the crown” of the PFS, and our recent announcement of the launch of Power Planning marked the first time the PFS were going to formally support a financial planning approach.
“With all of this said, I am deeply disturbed by the recent behaviour of the CII, and I do not feel that I can carry on supporting the PFS as a volunteer whilst there are so many unanswered questions about the CII’s hostile takeover attempt.
“Furthermore, having read Caroline Stuart’s harrowing account of her time as President of the PFS board, I cannot support an organisation who feels it is fair or right to apply those kind of pressures to the volunteer workforce it depends on.
“All PFS members should be concerned and interested in what is happening at CII head office. It may seem like boardroom politics and detached from your day job, but it has the potential to severely impact the future of our profession and actively work against the hard work we are all doing.
Please head to https://ourpfs.co.uk and find out more, or contact me directly at This email address is being protected from spambots. You need JavaScript enabled to view it..”
The CII has said it is intervening in the PFS due to concerns about governance on the PFS board however, in another recent development, PFS board member Vanessa Barnes has written to CII group chair Helen Phillips to strongly refute the governance allegations.
The CII plans to place a majority of CII directors on the PFS board this month to take control of the body. PFS member directors have accused the CII on trying to seize the PFS board to gain access to PFS funds and ease financial difficulties for the CII. PFS member directors are calling for an EGM to discuss the issues.
