He replaces Old Mutual Wealth UK managing director, Scott Goodsir, who has stepped down from his position after two years.
Shaughnessy said: “I am delighted to offer my services to the PFS board and its members at such a key stage of evolutionary change for the financial advice profession.
“The sector fulfils a vital role in serving the public and in the wake of the pension reforms, UK consumers have never needed professional advice as much.
“The financial advice sector and the PFS have made huge strides in the last two years and I am looking forward immensely to having this opportunity to further contribute to its continuing progression.”
Shaughnessy, who joined Zurich in 2012, began his career in financial services with the Bank of Scotland in 1989.
He then joined Prudential as retail life and pensions managing director before becoming Fidelity International’s UK managing director.
Keith Richards, chief executive of Personal Finance Society, said: “Gary brings a wealth of expertise to the role, which will be invaluable in helping with the continuing growth of the society, our member support and consumer initiatives.
“PFS membership continues to rise consistently and as the largest professional body for the sector, we have a key role to play in supporting and guiding the profession to better influence a more vibrant financial services landscape.”
“I would also like to thank Scott Goodsir for his contribution, commitment and support over the past two years.
“Our strategic thinking has been enriched as a consequence and I wish him every success for the future.”
Shaughnessy attended the PFS annual officers’ conference in Birmingham last week, where a number of strategic plans were announced for 2015.
These include an enhanced member’s support programme, a new consumer website and new adviser directory.
