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Goddard aims to boost advisers in role as PFS chief

Fay Goddard says she will bring a depth of understanding on how regulation affects advisers to her new role as chief executive of the Personal Finance Society.

The former Aifa deputy director general is due to take up the position in July following Tim Eadon’s resignation this week.

She says: “I will bring that knowledge to the PFS and raise the profile of the society to make it an organisation that every adviser will want to be a member of.

“We need to consider what it is that advisers want and if the PFS is not offering that, then we must look at making some changes.”

Goddard says the PFS needs to take the next step forward with regard to the retail distribution review and she wants to focus on raising professional standards and qualifications in the advice sector.

Former PFS public affairs director John Ellis says Goddard’s grasp of the day-to-day issues faced by advisers will stand her in good stead for the role. He says: “They need to have someone who is more au fait with regulation than I think the current board members are. The PFS has been far too quiet on issues that concern advisers and hopefully Fay will be more vocal.”

Highclere Financial Services partner Alan Lakey says he hopes Goddard can “close the chasm” that exists between what advisers want and what Eadon believed they wanted.

Lakey says: “A lot of people have been unhappy with the PFS under Tim Eadon. There is a perception that he was pushing it in an elitist direction but I think Fay has a better understanding of IFAs at the coalface.”

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