The Consumer Duty Alliance (CDA) has appointed Chartered Financial Planner Vanessa Barnes and Adam Owen, founding principal of NextGen Planners, to its board.

Mr Owen will also take up an executive role as Chief Membership Officer of the Alliance.

The Consumer Duty Alliance is a non-profit organisation designed to help advisers meet the requirements of the FCA’s new Consumer Duty.

All people working for the CDA do so on a volunteer basis.

The Alliance says it has continued to “significant growth” in membership and affiliate firms this year.

The Alliance has launched a number of new initiatives to support the implementation of Consumer Duty through collaboration with members, subject matter experts and established support providers from across the Alliance. It has further new initiatives in the pipeline, it says.

Mr Owen will lead the development of broader engagement for the Alliance, its members and affiliates. His company, NextGen Planners, already provides support and training for Financial Planners and Paraplanners, particularly younger planners.

Mr Owen said, “In a very short time, the Alliance has established a number of key initiatives that are bringing the profession together. I am looking forward to helping to develop the membership offering to further show what our profession can achieve when it works together.

“Having proudly contributed to the creation and success of NextGen Planners, I have gained insights and experiences which can be employed to support the wider profession, whilst augmenting the fantastic work of others across the Alliance.”

NextGen Planners has also joined the Alliance as an Affiliate.

Vanessa Barnes, of Hannay Wealth, said: “It is a great honour to be joining the Alliance board. There has never been a more important time to engage with the regulator and other important stakeholders to recognise the challenges and opportunities for the personal finance profession to ensure our clients and unengaged consumers benefit from the right outcomes.

“By 2025 60% of private wealth in the UK will be in the hands of women. It is important that those clients have choices and we know many Alliance Members want better female representation within their firms. We are planning to support and provide resources to assist in that objective. This is a brilliant profession for both men and women and that message needs a wider distribution.

“We already have an active and vibrant female community in personal finance and we want to signpost the work of leaders such as Julie Flynn, Charlotte Wood, Kathryn Knowles, Gretchen Betts and many others.  We would like to see their ideas, experience and knowledge distributed to the wider Alliance.”

Keith Richards, CEO of the Consumer Duty Alliance, said: “The Alliance aims to support and augment the role of professional advice as well as the services of established organisations and Affiliates. We therefore welcome both Vanessa and Adam to the board and I know from first hand experience that they both bring a wealth of valuable insights, passion and complimentary experience to support expansion aspirations.”

“Adam’s contribution and experience gained in building the highly engaged and respected NextGen Planners community will be invaluable to the Alliance and Vanessa’s wealth of experience as a female practitioner will help to ensure a broader focus on diversity and inclusivity for our community and the public we serve.”

The Alliance incorporates the Financial Vulnerability Taskforce, the adoption of a consumer facing Financial Vulnerability Charter, the Retirement Income Taskforce and New Talent Alliance.

Individuals and firms can join the Alliance for free by adopting an independent Code of Professional Standards; a benchmark of good practice. They receive a digital badge and a guide explaining what consumers can expect from professionals who've signed-up to the Code and display the membership badge.