Personal Finance Society vice-president Daniel Williams along with member director Ben Wright have become the latest senior people to exit the troubled organisation.

Mr Williams said he resigned over “concerns about the culture and structure of the Personal Finance Society.”

Mr Wright accused the PFS board of lacking "independence and clarity of purpose."

Both took to LinkedIn to announce their resignations from the PFS board.

Mr Williams said: “Over recent months it has become increasingly clear, that the direction of governance and decision-making within the organisation is not consistently aligned with [my] values.

“I have concerns about the culture and structure of the Personal Finance Society, particularly in relation to independence, transparency, and the practical ability of the Board to represent members effectively.”

He added: “My decision to step down was ultimately driven by a belief that remaining on the board, under current conditions, would no longer allow me to meet the fiduciary responsibilities or ethical standards I believe are essential for non-executive directors. Stepping aside is therefore, I believe, the most responsible course of action to uphold my core beliefs."

Daniel Williams was appointed a board director at the PFS in July 2023. He has been an IFA with Morgan Williams & Co since 2016 and a director since 2024.

Mr Wright said: "In my view, the PFS board lacks the independence and clarity of purpose needed to operate effectively. I’ve felt a growing focus on the needs of wider CII Group over those of the PFS, and a blurring of roles between group executives and board directors.

"This has made it impossible to discharge my duties with the integrity the role demands."

Sheffield-based Chartered Financial Planner Ben Wright was appointed to the PFS board in February 2024 for a planned four year term.

No longer working as a financial adviser, Mr Wright is chief innovation officer and managing director of Progress at business lifecycle agency Melo. He is also an independent non executive director at a national financial advice network.

The PFS has been beset with a rapid turnover in directors in recent times with 19 appointments or terminations of directors in 2024, according to Companies House records.

That’s against a background of continuing unhappiness from some members about the direction of the organisation and the usage of financial reserves.

Last month President Carla Brown took on the additional role of chair to replace Christine Elliott, who left after only eight months.

PFS interim chief executive Don MacIntyre stepped down from his role in November. His two years in charge saw him face a challenging time as head of the organisation. He has yet to be replaced and there is no word yet on a timetable to replace him or if his role will be replaced.

At the time the PFS said it wanted to reassure all members that the organisation is in good hands. It said: “The executive team remains fully committed to advancing the goals of the PFS and will continue to work closely with the board to ensure a smooth transition and sustained support for the society’s valued members.”

Later that month PFS members rejected two key motions at the AGM in Manchester in a serious blow for the board.

In an unexpected vote, motions to accept the Report and Financial Statements for the society and reappoint the auditors were both rejected at the AGM.

The PFS board then wrote to rebel members saying it was aiming to "understand" why they voted against the two motions.