A key focus for the PFS for 2022 is building a strong, sustainable and profitable profession, to ensure financial planners continue to empower people to have confidence in managing and planning their finances.
Faced with changing client needs and technology advances, Sarah Lord, president of the PFS said the profession must support clients with both human and tech-enabled services. So, in the year ahead, the PFS will continue to provide webinars, articles and good practice guidance to its members.
In addition to considering how we best promote the value of financial advice to a changing demographic, Ms Lord said there is also a need to explore and evolve training programmes, including those provided by the Chartered Insurance Institute (CII).
The CII’s Shaping the future together consultation provided an opportunity for all PFS members to have their say about the networking, skills and knowledge development they require from the professional body in the years to come.
Ms Lord noted: “Moving forward, it remains important to focus on new generations of clients, building a clear understanding of they want from their relationship with a financial planner.
“The intergenerational wealth transfer is upon us now, so we need to be on the front foot. We must ensure we can offer appropriate client experiences for the next generation of clients, so we sustain our client base for the future.
“Only by securing our own financial futures through a clear focus on attracting fresh talent, building resilient business models and focusing on the client relationship, will our profession be well placed to empower more individuals to manage their money and achieve their financial goals.”
How to overcome these challenges and make the most of these opportunities will also be explored at the PFS Festival of Financial Planning, which will take place at the Birmingham NEC in November 2022.