Behaviour
Furthermore, I am disgusted with the way the CII has behaved towards the PFS, the PFS members, and the PFS Board.
I believe they have attempted to gain access to the PFS reserves through bullying and intimidation of the PFS Board, and when the member directors stood firm and these tactics failed, through the only option remaining to them – in my opinion, a cynical, disingenuous and autocratic
takeover of the PFS Board using unfounded and spurious allegations as the reason.
My professional life has always been driven by my high values of honesty, transparency and integrity.
This has been demonstrated in my continual and constant commitment to the PFS for the last almost eight years.
It has been an honour to represent members on the Board and I will continue to work to further the paraplanning and financial planning profession in any way I can, but sadly, this will no longer be through volunteering with the PFS when the CII’s values are clearly so vastly far removed from my own.
However, I will continue to give my support for the PFS in any way I can and I would also encourage all PFS members to do the same.
But, as these actions will affect us all, I also call to every member of the PFS and CII to scrutinise the position of the CII yourself so you can hold the leadership team of the CII to account for what is in my view is a list of major failings:
- The state of the CII finances and the potentially reckless squander of millions of pounds under the leadership team’s stewardship over the last six years.
- The poor quality of the services provided to members, including exam and CPD provision, SPSs, renewal of membership fees, all underpinned by an arcane and failing CRM system.
- The complete lack of any corroborating evidence to support their allegations.
- What I believe to be the misinformation and misdirection from the CII to draw any and all attention away from their own potential governance failings.
I believe the CII are hoping to access and move some or all of the PFS reserves to the CII and are relying on member ‘apathy’ and disinterest to enable them do this.
I therefore implore all members of the PFS, to take whatever action you can to help prevent the wholesale strip-mining of the PFS and its reserves, by and for the benefit of propping up what I believe is a badly run, financially exhausted CII.
Demand an EGM, use your voice and protect your PFS and its reserves from being consumed by the CII forever."
- Caroline Stuart, outgoing president of the PFS
CII response to the resignation statement
Helen Phillips, CII Group chairperson, has responded to Stuart's resignation, saying:
