The society, which was formed in 2005 after the Society of Financial Advisers and the Life Insurance Association merged, currently has a membership in excess of 35,000.
Brian Steeples, the PFS's first ever president, said: “Prior to the Personal Finance Society there were a number of different bodies, each with a slightly different agenda, which was not helpful for our profession.
“Government bodies, consumer groups and the media were receiving mixed messages on important issues affecting our sector and it was obvious that it would be much better served by a single vision and a unified approach.”
The PFS still supports advisers with continuing professional development, a suite of member services and good practice guidance.
Keith Richards, its current chief executive, said: "It is essential that our profession continues to evolve and for the Personal Finance Society to drive awareness of the step-change in professional standards.
“Our recent work in uniting the sector and enhancing consumer trust is an important first step and provides the foundations from which to build further.
“Our change of approach and developing relationship with a more engaging regulator also delivered tangible results during 2014 and it is encouraging to see the positive impact of this change beginning to impact broadly on the sector as a whole.”
Satisfying the society’s broad membership is a challenge, as Richards added that the PFS will build tailored packages for its paraplanner and compliance members, while it will also introduce a Financial Planning Academy to serve its chartered community.
