CPD AND FURTHER STUDY DURING THE GLOBAL PANDEMIC

by Keith Richards, CEO of the Personal Finance Society

The coronavirus pandemic surprised us all with the speed of its advance worldwide. The Personal Finance Society reacted swiftly to ensure the safety of our colleagues, our members and our students, whilst also fulfilling our responsibilities as a professional body with events cancelled a few days ahead of the government lockdown.

Our workforce quickly switched to home working and has been focused on helping members navigate these difficult times. Immediate actions included postponing some of our written examinations and re-purposing content which can be delivered in interactive and engaging formats online via digital channels.

In keeping with our three key principles of Standards, Professionalism, and Trust, the PFS is emphasising the benefits of pursuing continued professional development to our members and the wider profession. By maintaining and growing their professional knowledge, our members are putting themselves in a position to provide greater value to their clients during these uncertain times.

For those pursuing qualifications, now provides an opportunity for self-paced coursework and reading for getting to grips with complex issues such as SM&CR, for example, which has consistently been considered

Our workforce quickly switched to home working and has been focused on helping members navigate these difficult times

amongst the top concerns for CEOs, along with MIFID II. As compliance adapts to the digital age, keeping up with the new requirements can seem like a job in itself, and so

Whilst we are all having to deal with the here and now, it is important to look beyond current challenges and plan for the future

this period can be utilised to catch-up with these changes, assess how your business is performing and identify where improvements can be made.

The PFS has moved quickly to help keep members informed by switching publication of our member newsletter from fortnightly to weekly and uses this to signpost the latest news and resources for members. Similar updates are shared via our social media channels on LinkedIn and Twitter, and I myself am publishing a weekly blog, updating members on what we are doing including how we are engaging with regulator’s and government on a weekly basis. Whilst we are all having to deal with the here and now, it is important to look beyond current challenges and plan for the future. In this regard, entries are now open for the PFS Awards 2020/21, which are held in high regard across the profession and allow us to recognise and honour members and Journalists across the personal finance landscape.

In November the PFS is planning to present financial planning as you've never seen it before – but will remember for years to come. Our Festival of Financial Planning 2020 will deliver a unique balance of practical, entertaining and inspiring content, featuring influential speakers, thought leaders and multiple streams of content for financial planners.

These unprecedented times create the need which is likely to alter the way we do somethings forever. The impact however is also likely to create increased need and demand for financial planning and as a profession I am confident that the majority will come out the other side stronger.