More than 200 Financial Planners achieved Chartered status last year, taking the total number of Chartered Financial Planners to 8,159.

The figures were revealed in the Personal Finance Society’s full year results for the year ending 31 December 2023.

The PFS annual results, published on Companies House, also showed that the number of members of the Society fell by 367 last year.

The report showed that the PFS had a total of 39,665 members at the end of last year.

During the year, the PFS increased its net asset reserves by 11% to £19.07m. The report said the amount was “ensuring that the Society has the resources to continue delivering value to public, through its membership, well into the future.”

The PFS made a post-tax profit of £1.82m in 2023, up from £1.54m in 2022. But event sponsorship fell during the year from £2.26m in 2022 to £1.43m last year.

Total membership revenue for 2023 was £7.21m, down £0.29m on 2022’s £7.50m. The report said that while a small part of the decrease was due to the reduced number of members in the year, the larger part of the decrease was "due to the timing recognition of more deferred membership revenue in 2023 compared to 2022."

Total operating expenses in 2023 were £8.96m, up £0.97m from the previous year’s £7.99m. “The main increase in operating expenses related to the increase in central recharge costs from the Chartered Insurance Institute,” the report said.

In terms of activities the PFS said it delivered a total of 78 regional events in 2023 as well as 17 specialist roadshows. It also continued to grow its digital events platform, delivering more than 90 new webinars as well as 6,200 on-demand streams from its digital library throughout the year.

Some 950 people attended the annual conference in Wales while 290 people attended the annual graduation event.

The PFS’s My Personal Finance Skills schools education programme continued to deliver essential financial skills in schools through almost 700 workshops in 2023, reaching more 25,500 students, according to the report.

In May the PFS appointed experienced financial services CEO Piers White as its first independent chair, a new role created by the organisation following its internal governance review completed last year.