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PFS chief exec Fay Goddard to retire

Fay Goddard 480 Alt

Personal Finance Society chief executive Fay Goddard is retiring from the role next year after almost five years of heading up the professional body.

Since Goddard (pictured) was appointed chief executive in July 2008, the PFS membership has grown from 24,000 to over 33,000. She oversaw the launch of the Chartered Insurance Institute’s financial planner initiative, which now counts 3,200 individual chartered financial planners and 425 chartered financial planning firms.

Goddard says: “It has been a privilege to head the PFS through a time of great change and I am immensely proud of the way members have risen above and beyond the challenges. 

“I have enjoyed the support of my CII colleagues, the PFS board and the members during my time as chief executive and am pleased to have had the opportunity to work with such a dedicated and enthusiastic team.”

She adds: “The financial planning profession is entering a new era and it seems timely to step down now and let someone new take the PFS forward through its next phase of development. I have no doubt the society will continue to go from strength to strength.”

CII chief executive Dr Sandy Scott says: “I am sorry Fay will be leaving us, but she has successfully led the PFS through the RDR and will be leaving the organisation in excellent shape, both in terms of reputation and membership size. All of us at the CII wish her the very best for her well-deserved retirement, although knowing Fay I suspect she will still be active in the profession.”

Goddard’s departure will be announced at the PFS annual conference in Birmingham today. She will remain as chief executive until a successor is appointed to help with the transition of the role.

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Comments

There are 20 comments at the moment, we would love to hear your opinion too.

  1. Thank God she’s going.
    A serial denier of the CII exam Level 4 regime’s failings and far too cosy with the FSA which has brought about one of the worst regulatory outcomes for IFA’s in our trading history.
    Nice mess. Time to move on without a backwards glance at the thousands of advisers who’s working lives you have so thoroughly impeded.
    You couldn’t make it up.

  2. this seems most unfair, especially as an anon comment. Would respect the view more if made in an open forum with Faye Goddard present.

  3. Unfair,my arse!

  4. @Adrian Jewitt
    Open forum? Sadly that would be about as much use as an ashtray on a motorbike.
    Been there, got the T-shirt with the CII top brass.
    Suggest we swab down the wounds that her team have given us as a profession and hope we recover to fight another day.

  5. Fay is a strong and intelligent business woman but what a shame those talents were so directed. I have disagreed with Fay on her stance and promotion of RDR and in particular the lack of grandfathering. It seems to me that stepping down for such people can so often mean stepping up or crossing over to better terms. It a pity that so many advocates of RDR seem to be leaving this sinking ship without the benefits of harvesting the seeds sown. Alas, there will be many advisers not so fortunate and who have lost their livelihoods over policies advocated by Fay.

  6. Another one leaving HMS RDR

  7. George Osborne needs to get his head out of his a— and smell the coffee or rather the s— that all of these RDR chancers have left
    Is anybody still at their post who dreamt up this distruction of Financial Services
    No doubt she will be offered a gong for services rendered in thr RDR ‘final solution’

  8. What a load of winging nonsense, if you cant pass a few exams then it’s a good job these thicko IFAs are now flipping burgers.

    Pretty typical response from dumb people who are happy to churn clients money while offering free advice.

    And I agree have the bottle to post your real name if you want to take a swipe.

  9. Nicholas Pleasure 8th November 2012 at 5:08 pm

    Guess Fay will need to learn to cook for herself.

    No more posh dinners paid for by PFS members.

    I don’t think history will judge her tenure kindly.

  10. Whilst no fan of the CII or PFS, I think some of the above comments are a bit churlish. A good job came up Fay applied and was accepted. She then had to perform as expected.

    That she stuck it out for so long in such an antediluvian, hidebound and reactionary body just shows her tenacity and grit. It couldn’t have been easy.

    I for one wish her well in her future endeavours – whatever they may be.

  11. Richard Bishop- Passed my exams and can spell ‘whinging’correctly!

  12. Tenacity & Grit?
    Dream on Harry

  13. yes I’d say her tenacity, grit and integrity to admire about Fay. She’s been a wonderful supporter and friend to the PFS Isle of Man members and I will miss her greatly.

  14. Fay is an intelligent and forward thinking woman, I say this despite the fact she stayed at the CII/PFS for 5 or so years!
    Not a great week for the CII, redundancies due to no robust business plan and a senior appointment retiring.
    Unless of course the two are related.

  15. Incompetent Regulators Award Team 12th November 2012 at 10:13 am

    Just another parasite on teh back of IFAs for so many years.

  16. I am appalled by the majority of comments posted so far.

    I’ve known Fay for many years, and she has always conducted herself with dignity, professionalism and commitment to the financial services sector.

    Sadly, there will always be those who seek to criticise without justification. Fay had a difficult job, incredibly demanding circumstances and an impossible regulator to deal with.

    She has done herself, and the CII’s membership, credit and will be a difficult act to follow.

    I wish her and Peter well in retirement.

  17. Paul @ 5.17
    “Fay had a difficult job, incredibly demanding circumstances and an impossible regulator to deal with”
    The impossible regulator was not difficult at all to deal with for Fay.
    She agreed with & glold plated every suggestion they came up with.

  18. Enough is enough….

    Fay is accountable to the PFS Board (your peers). On matters relating to the RDR she has consistently represented the views of the PFS membership (your peers). When you choose to criticise her for supporting the RDR you are effectively criticising those financial advisers who believe that professionalism is a worthy cause and one that merits higher standards of competency and ethical behaviour. Those elements of the RDR that Fay, the PFS Board and the PFS membership supported asked advisers to prove their competency via examination. The FSA took the view that if you are incompetent then you have no place in this profession beyond December 2012. The vast majority of PFS members (your peers) agreed. Before launching a vitriolic attack on a woman in her sixties you may wish to reflect on whether such behaviour is merited given that she was delivering exactly what her membership wanted. A membership, which for the record, increased significantly during her tenure. You do yourselves and your profession no favours in choosing to berate Fay Goddard in this way.

    David Ross
    CII

  19. What about all those advisers in their sixties David?
    Not incompetent. Just tired out with it all and no one to fight their corner.

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