The other new appointment is Helen O’Neill, chief operating officer at Tatton Investment Management.

Mr Shepherd began his career as a Financial Planner with Shepherd Associates Financial Management, later holding the position of investment manager with AFPS Asset Management.

Since joining Brooks Macdonald in 2002, he has held various senior positions and was appointed chief executive in 2021.

Mr Shepherd said: “I’m delighted to be joining PIMFA at what promises to be a busy and exciting time for our industry. The next few years are likely to see many changes in regulation and the way in which advice is provided.”

Ms O’Neill began her career in financial services with Barclays Bank in 1997 before working for Coutts & Co in 2007 and then Axa Wealth and Axa Self Investor between 2008 and 2013.

She joined Tatton Investment Management in 2013 as head of governance before being appointed chief operating officer of the group in 2016.

Ms O’Neill said: “I’m delighted to join the PIMFA Board and continuing to push for the reforms PIMFA and we as members, want to see for the industry and consumers alike.

“Introducing a simplified advice model, reform of the FSCS levy, better supervision of firms and much needed diversity and inclusion in the industry, for example.”

Liz Field, chief executive of PIMFA, said adding the two new members to the board is “further strengthening what is already a very strong board with many decades of experience.

“There is much to do as we advocate for our membership with regard to the Financial Services and Markets Bill currently making its way through parliament, the Government’s Edinburgh Reforms and far more besides.”