Lord Deben is to step down as chairman of wealth management association PIMFA in March after nine years at the helm.
PIMFA says that during his tenure he has played, a “pivotal role” in taking the organisation forward following the amalgamation of trade bodies WMA and APFA to create PIMFA.
He has also worked to strengthen the standing of the association and has championed the interests of members and the sustainability of the advice and personal investment services sector. PIMFA said.
Many Financial Planning firms and wealth managers are members of PIMFA including St James's Place, Evelyn Partners and Titan Wealth.
PIMFA says Lord Deben has navigated a period of, “significant regulatory, economic and industry change” while continuing to advocate for high standards and positive client outcomes.
PIMFA CEO Liz Field has paid tribute to Lord Deben’s contribution.
She said: “On behalf of the board, our members, and the entire organisation, I would like to thank Lord Deben for his outstanding commitment and service over the past eight years.
“His insight, integrity, and unwavering support for both the profession and PIMFA have been instrumental in helping us deliver on our purpose. We are deeply grateful for the time, energy, and expertise he has given, and for the strong foundations he leaves behind.”
Lord Deben, who served for many years as an MP when he was known as John Selwyn Gummer, said: “It has been a privilege to serve as the chairman of PIMFA and of APFA before that.
“Over the past nine years, I have had the opportunity to work alongside a highly committed board, and exceptional team and passionate members, who truly care about the future of our profession and their clients. I am proud of what we have achieved together and confident that the association is well positioned to continue supporting members in delivering trusted, high-quality advice and personal investment services.
“PIMFA is crucially important in ensuring that Financial Planners, advisers and investment managers are able effectively to play their vital part in the British financial industry.”
Lord Deben will step down on 1 March and PIMFA says it will confirm further details regarding succession in due course.