The board of the proposed Personal Finance Society would be comprised of eight member directors and six non-member directors.
It would initially appoint for up to a two-year term a member-facing president who would also be appointed to the CII council. Subsequently, the president would serve for one year. The board would also elect two vice-presidents, with one becoming president when the incumbent's term ends.
Chairman of the board would be Bob Bullivant, currently Sofa managing director, while LIA director general Mark Ommanney would be chief executive. LIA head of public affairs John Ellis would be public affairs director, LIA finance director Andrew Clarke would be finance director while CII director general Sandy Scott and CII finance director Peter Martin would be non-member directors.
Member directors, who must have passed at least three AFPC subjects or hold equivalent qualifications, would be elected on an ongoing basis would be the LIA's Caroline Banks, the LIA's David Batchelor, Sofa's Gill Cardy, Sofa's Carole Nicholls, Sofa's Robert Reid, the LIA's Karl Snowden, Sofa's Brian Steeples, and former Sofa chair Peter Williams but who would sit as an LIA member.