Lothian is one of the vice presidents of the society and has been elected as president by the PFS board.
He will take over the position at the annual PFS conference in Birmingham next month.
Lothian says: “2009 promises to be a challenging year for many advisers but one which will also provide many opportunities for the financial advice sector.
“The PFS has a pivotal role to play in influencing the reshaping of the financial services landscape. “
Outgoing president Robert Reid says: “My year as president has seen the PFS achieve the recognition that professional advice has real value, with this fact now recognised by government and regulator alike.
“The pro bono project with Citizens Advice has provided the evidence that the professional adviser has an important role not just with their clients but with the population as a whole.”
He adds: “We need to ensure that the Retail Distribution Review remains true to its original principles and helps us build this profession.”