NEWS
P E R S ON A L F I N A NC E S O C I E T Y
PFS CELEBRATES 15 YEARS AND PLANS FOR THE FUTURE 2020 marks 15 years since the launch of the PFS, prompting the professional body to reflect on past and future developments. Since being established in 2005 via the merger of the Society of Financial Advisers and the Life Insurance Association, the PFS has evolved into the sector’s leading professional body, with a membership of 40,000 at the start of this year. Inaugural president of the PFS, Brian Steeples of Turris in Glasgow, said: “The whole sector should be proud of just how far it has come in such a short space of time. Qualification levels are a stark indicator of how financial advice has moved from an industry into a more trusted profession.” The PFS offers a comprehensive
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continuing professional development programme, with full-day events delivered every month in 27 locations across the UK, plus webinars and good practice guides. In addition, 2020 will also see the return
of the Festival of Financial Planning to Birmingham’s NEC in November. The 2016 event attracted 3,500 delegates and delivered more than 70 breakout sessions. During the past decade, the PFS has also increased its engagement and influence with government, regulators and consumer groups. Recent initiatives include the creation of The Pension Advice Taskforce, resulting in the creation of Pension Transfer Gold Standard.
Read our CEO comment from Keith Richards on page 4
INVESTMENT
BREXIT EXPECTED TO BOOST FTSE 100 SHARE PRICES Brexit could boost FTSE 100 share prices, according to 42.4% of 170 financial advisers who took part in a PFS poll in January. Roughly one in five financial advisers (22.9%) said Brexit will not boost FTSE 100 share prices, and approximately a third (34.7%) were unsure what the UK exiting the European Union will mean for investors in the index. Keith Richards, chief executive of the PFS, said: “The Conservative Party’s general election victory sent the FTSE 100 to its best day in a year, with analysts hailing it the ‘Boris Bounce’. “The majority of the FTSE 100’s profits come from outside the UK. A weaker pound is beneficial for some British companies
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@SquareMileICR Square Mile’s Jamie Farquhar talking ESG and embracing it into your investment proposition at the @pfsconf in London this week #pfsconf
that sell their products or services outside of the UK, as it allows overseas buyers to get more for their money. “If the value of the pound falls further, many FTSE 100 companies should therefore receive a boost and, in theory, this should push the share prices up, acting as a hedge against Brexit uncertainty. However, we need to remain mindful that a Brexit deal with the European Union has yet to be struck, and any economic optimism we currently feel may be misplaced. “It is vital that investors speak to a financial adviser to ensure their investment portfolios are capable of meeting their needs.”
@AlanSense People starting to arrive @RuddingPark for the @Profadviser Multi Asset Roadshow where I will be doing a presentation about the good work @pfsconf carry out educating school children regarding all matters financial
@SlipaczekPro Delighted @ASlipaczek membership officer of London @pfsconf representing @SlipaczekPro at London @pfsconf Q1 Conference #chartered #CPD2020 @CIIGroup
thepfs.org | Personal Finance Professional | SPRING 2020
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