'Godfather of UK Financial Planning' dies at 83

Monday, 09 January 2023 11:22

Paul Etheridge MBE, founder of the Institute of Financial Planning (IFP), has died aged 83 at his home near Cheltenham.

Mr Etheridge was one of the UK’s longest serving Financial Planners and has been a leading figure in the profession for several decades.

He has been referred to as the 'Godfather of UK Financial Planning' by many who knew him.

He was the President of the IFP, which launched the Financial Planning profession in the UK, for its first 10 years. The IFP is now part of the CISI.

Mr Etheridge founded cashflow modelling solution provider Prestwood Software almost 40 years ago, introducing cashflow modelling to the UK, including the Truth software brand.

He also ran the Advanced Planners Group (APG) through which he used to organise monthly masterclasses on running a Financial Planning business for advisers.

Ritchie Walton, managing director at Prestwood Software, said: “To have worked alongside Paul for nearly three decades has been a privilege. His passion to share his knowledge with all who wanted to improve themselves and the Financial Planning profession was relentless.

“His presence will be sorely missed by many. We are thinking of his close family and friends at this sad time.”

Kevin O'Donnell, editor of Financial Planning Today, said: "I met Paul many times over the years. He was a charming and intelligent man whose loss will affect many. It's hard to imagine the UK Financial Planning profession reaching the size and influence it has now without him. He was a pioneer and a driving force in Financial Planning."

Mr Etheridge was also chair of governors at Wycliffe School and a member of the Territorial Army since 1960.

He leaves behind a wife and son.

Prestwood Software says it will be working as normal today to ensure service levels are maintained to its Financial Planning clients.

Reaction to the news from the profession was one of sadness today.

Chris Budd, founder of Ovation Finance, Tweeted: "This is very sad. Paul is not mentioned anywhere near often enough for his groundbreaking work in Financial Planning. A man who really changed things."

Former head of Financial Planning at the CISI Jackie Lockie CFP said on LinkedIn: "I'm shocked and saddened by this news. Paul gave me so much support over the years both at the IFP and after the merger with The Chartered Institute for Securities & Investment (The CISI). Certainly one of the major pioneers of Financial Planning in the UK helping bring the Financial Planning Standards Board Ltd. Certified Financial Planner licence here in 1995. Something for which I will always be grateful. RIP Paul."

Keith Richards, chairman of the Financial Vulnerability Taskforce and former CEO of the Personal Finance Society, said: "Very sad news and a great loss to the Financial Planning Profession. I always enjoyed panel events and discussions with Paul in my various roles - he was an absolute pioneer and inspiration to many. My sincere condolences to Paul’s family."

Institute of Financial Wellbeing chair and Financial Planning entrepreneur Ruth Sturkey said on LinkedIn: "I only met Paul once on the day I discovered Cashflow modelling, Truth and Paul Armson - quite a day in my Financial Planning journey! He leaves a great legacy behind him from which many of us have benefited and grown. Thank you Paul."

Chartered Financial Planner Dennis Hall, founder of Yellowtail Financial Planning, said: "Very few people move the dial in their chosen field as much as Paul Etheridge did in the world of Financial Planning. One of the founding players who did so much for what we do. His Prestwood cashflow (and more) tool was the first proper Financial Planning software I used."

Lee Robertson, founder of the Octo Members Group, said: "I am very sorry to hear that Paul Etheridge has passed away. A titan of Financial Planning and cashflow modelling and a huge influence on so many Financial Planners. His contribution to the professional development of so many of us was immense."

Brod Whiting, director of JoyndUp, wrote on LinkedIn: "Very sad news indeed, a great loss."

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