Former president of the Personal Finance Society (PFS) Robert Reid has said the management of the Chartered Insurance Institute (CII) has lost its focus in the running of the professional society.
Reid said the CII management failed to realise the organisation is not a corporate trading company but rather a member body.
“You really have to run it in quite a different way if you want to keep everybody onboard. If you don’t do that people start to feel neglected. And I think there’s an atmosphere of neglect which extends to not just the PFS but across the CII members as well,” he added.
The former PFS president is a vocal opponent of the CII and supports the PFS board in the ongoing showdown with its parent body over planned structural change.
The PFS board recently voted down the CII’s attempt to deregister it as an independent entity.
Reid and other former PFS presidents including Sharon Sutton and Brian Sheeples last month established the PFS Solo website to take the fight to the CII.
The campaign was aimed at mobilising adviser members to weaken the CII’s control…
