Adviser and wealth manager trade body Pimfa has reshuffled its top team as three board members come to the end of their terms.
The departing board members are Rathbones head of client service and proposition David Howard, ex-Schroders global head of wealth management Andrew Ross, and former executive chairman of Scottish wealth manager Speirs & Jeffrey James McCulloch.
The departures were officially confirmed through Companies House records today, with new members appointed to the board last September in time for the transition.
The incoming members to the board who have now taken up their positions are Sanlam Private Office chief executive Penny Lovell, Heartwood Wealth Management boss Tracey Davidson, and Ruffer LLP’s finance director Myles Marmion.
Pimfa board members serve no standard term-time, with this varying based on the election they receive and the responsibilities of their role.
A Pimfa spokeswoman says: “David Howard, James McCulloch and Andrew Ross have been invaluable members of the Pimfa Board for many years. We have greatly valued their expertise and guidance over the years as the association has developed.
“Now that each of their terms have been served they all stepped down from 31 December 2018. All three remain active members of the industry and will continue to engage with Pimfa and our community, and we thank them for their continued support.”
The board continues to be chaired by Lord Deben, who was also chair of predecessor adviser trade body Apfa before its merger with the investment-focused WMA.
Pimfa’s board now includes representatives from across the investment spectrum, as well as Tenet’s Martin Greenwood and Perspective Financial Group’s Julie Hepworth.
Late last year, Money Marketing learned that one major advice support business, Sesame, had opted to pull its Pimfa membership in favour of more direct engagement on regulatory issues.