Many Financial Planners have reacted negatively to the move by the CII this week to take over the PFS board, with several saying they may re-evaluate their membership.

A spokesperson from the Chartered Insurance Institute (CII) has accused the Personal Finance Society (PFS) of breaching a confidentiality agreement as the row between the professional bodies continues.

The Personal Finance Society has blamed a lack of CII directors attending for its decision to abandon an Emergency PFS board meeting today.

In this exclusive column for Financial Planning Today magazine, Dr Matthew Connell, director of policy and public affairs at the Personal Finance Society, unravels the FCA's new Consumer Duty.