The Personal Finance Society (PFS), the professional body for Chartered Financial Planners, has appointed two experienced planners to its board.

The PFS has seen a rapid turnover in directors over the past 12 months with 19 appointments or terminations of directors in 2024, according to Companies House records.

The PFS have been embroiled in a battle with rebel members about the future direction of the body and the use of its financial reserves. 

The two new board members announced today are PFS members Kate Gannon and Craig Palfrey. They will join the board on Monday 3 March. 

The appointment of two highly experienced and award winning Financial Planners will be seen by many as bolstering the board.

In December Liz Bastin stepped down from the PFS board and in October Anthony Ward stepped down.

Ms Gannon is a Chartered Financial Planner, a Fellow of the PFS and a Chartered Wealth Planner with CISI. She is also a founder of Themis Wealth Management in Cornwall.

Ms Gannon won Chartered Financial Planner of the Year in 2016/17 and was named Role Model of the Year at the Women in Financial Advice Awards, for pioneering the 4-day working week in her practice.  She previously spent 20 years with Barclays Bank and has been Treasurer Trustee for Age UK Cornwall and the Isles of Scilly for the last 8 years. She also mentors and attends schools in her local area to promote the Financial Planning profession, the PFS said.

Ms Gannon said: "It is a great honour to join the PFS board, an organisation that I am passionate about, and have been involved with for many years. I am committed to the promotion of excellence within the personal finance sector, supporting the work of PFS members and upholding standards, professionalism and trust.”

Mr Palfrey has been a Certified Financial Planner (CFP) since 2007. The designation has been provided by the CISI professional body since 2015 and prior to that by the Institute of Financial Planning which merged with the CISI.

Mr Palfrey is also a Chartered Wealth Manager and accredited with Society of Later Life Advisers for Retirement advice. He is an Education Champion for the PFS, a mentor and regularly speaks at professional and public events on Financial Planning, the PFS said.

Mr Palfrey has been managing director of Penguin Wealth Planners since 2010, where he leads the Financial Planning Team, and compliance oversight. Penguin is a 10-time winner of the Estate Planning Firm of the Year, awarded by Solidus Independent Estate Planning and has been a finalist at the Great British Entrepreneurship Awards.

Mr Palfrey said: “The PFS is a pillar within our sector, with a long history of supporting Personal Finance professionals in delivering excellent service to their clients. I am pleased to contribute my own knowledge and experience to the work of the PFS, and help shape the future of our professional body. I look forward to working with PFS Board colleagues to deliver positive outcomes for our membership.”

Carla Brown, President of the PFS, said: "I am delighted to welcome Craig and Kate to the PFS Board. They each offer a wealth of knowledge and experience from expansive Financial Planning careers, which will undoubtedly be of great benefit to our members. I look forward to working with our new directors on behalf of all PFS members.”