Bobbi Sills explores how the PFS regional committees are engaging with the CII's new societies
With a new decade on the horizon, the regional committees of the Personal Finance Society (PFS) have exciting plans in store to ensure continued engagement with the CII's local institutes and societies.
Each of the 26 PFS regions has its own committee, responsible for supporting the society in achieving its objectives.
PFS members form a large proportion of the CII's local institute membership, often accounting for between 25% and 40% of total membership.
That is why it is more important than ever that institutes and committees engage to deliver events that reflect the interests of both PFS and CII members.
So, in what ways are the PFS committees currently liaising with the CII and its societies?
Ged Dixon APFS, chair of the Plymouth regional committee, says the programme of services offered to committee members is well aligned with the CII: "We provide lots of technical continuing professional development (CPD) study sessions together with the CII throughout the year, which are predominantly soft skill-based," he says.
"One fundamental thing we do well is interact with our local CII. As chair of the committee, I have now got four PFS representatives on the CII local institute."
Richard Libberton FPFS, chair of the central Scotland regional committee, says: "I have been cultivating relationships with the CII Edinburgh local institute for a couple of years now.
"I have also been invited to their meetings to discuss ways in which we can work together to benefit members."
Mr Dixon revealed that another key focus for the regional committees is in identifying areas for possible collaboration with the local institutes.
The CII's Discover Risk initiative -- launched ten years ago -- is a gamified learning campaign that aims to raise awareness of the insurance profession among students. Soon afterwards, the PFS developed Discover Fortunes, which introduces students to key concepts in personal finance, designed to inspire them to consider a career in financial planning.
The Discover Fortunes initiative now forms part of a wider PFS programme, My Personal Finance Skills, which aims to deliver free financial education workshops to schools across the UK.
Mr Dixon says: "We deliver Discover Fortunes workshops on the PFS side, which is in the same vein as the CII's Discover Risk initiative but more from a financial planning specific."
Each Discover Fortunes workshop requires students to work in teams to complete a series of financial scenarios for fictional clients in the style of an interactive board game.
Mr Dixon explains: "I am now in the process of passing the names of the schools participating in the Discover Fortunes sessions to the CII Discover Risk team."
Looking ahead to 2020, Mr Dixon says he is positive about the prospects of what the committees can achieve.
Mr Dixon says: "I have already set up a meeting with the CII Law Society to discuss possible collaboration.
"As opposed to a financial planner phoning a solicitor and having a meeting, we are going to take it one step higher and go professional body to professional body."
Mr Libberton reveals that the focus for the central Scotland committee this year is on increasing engagement with the CII's societies.
He concludes: "I am keen to extend engagement to the other CII societies in our region and to build on the success of the work done by the Glasgow Institute."
For more information on the PFS regional committees, visit: thepfs.org/membership/regions
Bobbi Sills is communications executive of the CII