Ms Sutton - who says she will focus on advancing the Financial Planning profession - takes over from Nick Turner, who has stepped down from the board after completing a 12-month rotation as President and six years as a member director. The leadership change was confirmed at the society’s Annual General Meeting today.

Ms Sutton has over 30 years’ experience working in financial services including senior roles at Thornton, Marsh and Barclays. She is a Fellow of the Personal Finance Society and was chairman of the Isle of Man Region from its inauguration until 2012. She was the President of the Isle of Man Insurance Institute for the year 2011/12 and last year was appointed Vice President of the Personal Finance Society.

Also stepping down after six years on the board is David Thomas, joint managing partner of Chadney Bulgin. Replacing Mr Thomas and Mr Turner are Rory Percival, a well known speaker and consultant who worked for the FCA for 10 years, and Gordon Wilson, the founder and managing director of Carbon Financial Partners.

Ms Sutton said: “I’m really proud to have been appointed President of the Personal Finance Society. My main goal for the year ahead is to advance the practice and profession of Financial Planning so to encourage our members and the wider personal finance profession to embrace the use of such tools and techniques that may help them and their clients achieve excellent outcomes. I look forward to working with Keith and the team.”

Personal Finance Society chief executive Keith Richards welcomed Ms Sutton’s appointment and paid tribute to the society’s outgoing directors. He said: “Sharon is an incredibly welcome addition to the PFS as its President for the year ahead. Her experience will be invaluable in helping us further evolve our role as a professional body and I look forward to working closely with her over the next 12 months,” he said.

“I would like to thank past President Nick Turner for his insight and contribution to the profession over the past six years. His theme of attracting new talent led to the development of Aspire, the society’s new apprenticeship programme which we will continue to build.

“During David’s year as President his theme was the sharing of ‘good practice’ which continues as the Society’s Good Practice Hub. I want to thank him for his dedication and outstanding contribution these past six years.”

John White (Member Director), and Jonathan Rees (Lay Director) have been reappointed to the board.