Keith Richards has been appointed chief executive of the Personal Finance Society following the announcement he had quit network Tenet this morning.
Richards, formerly group distribution and development director of Tenet, has been appointed to follow Fay Goddard who stepped down in November after five years as chief executive.
Richards announced today he had quit Tenet to pursue new opportunities in the financial services sector. He has been with the network since 2004 and became distribution and development director in 2009.
Richards said: ‘I am excited to be taking up this role as in the current financial climate consumers need advice they can trust more than ever before. I believe we are building a profession that can thrive and secure the confidence of the public and I am looking forward helping shape the future of financial planning.’
Richards spearheaded the network’s recent lobbying campaign which aimed to highlight the costs and detrimental impact of financial regulation. He is also head of an executive committee formed by the Tax Incentivised Savings Association to from an adviser protocol on restricted covenants.
PFS president of Garry Hale said: ‘Keith brings a wealth of experience and influence together with a commitment to raising levels of professionalism in the advice sector. Our members will benefit immensely from Keith’s involvement.’
Sandy Scott, chief executive of the Chartered Insurance Institute, said, ‘Working closely with independent executive recruitment consultants we identified a shortlist of exceptional candidates for this role. These individuals were subsequently presented to the PFS nominations committee who, I am delighted to say, unanimously chose to appoint Keith.
‘He further strengthens my executive team and I anticipate his knowledge and experience will be invaluable during what is clearly a very challenging time for the retail investment advice sector.’