The Personal Finance Society is to focus on the challenges posed by intergenerational wealth transfer as it plans a return to a full programme of face-to-face events in 2022.

Intergenerational wealth transfer will be a key focus of the PFS’s Festival of Financial Planning which is due to take place at the Birmingham NEC in November.

The Festival of Financial Planning was last held in 2017 and attracted nearly 3,500 people making it the biggest event in Financial Planning. The event was due to return in 2021 but was postponed due to the Coronavirus pandemic.

This year will also see the return of regional CPD programmes provided by the PFS.

The PFS said it will also “explore and evolve” its training programmes to consider how best to promote the value of financial advice to a changing demographic.

This includes the training provided by the Chartered Insurance Institute (CII) following the CII’s recent ‘Shaping the future together’ consultation on the future of the PFS and parent body the CII.

The consultation asked for views on the proposed de-registering of the CII's PFS arm as a separate company and other major changes to the professional bodies. The CII has already removed the role of PFS CEO to streamline decision making.

The CII has yet to share the results of the consultation and what it will mean for the future of the PFS. It expects to release its findings early this year.

Sarah Lord, President of the PFS, said: “It remains important to focus on new generations of clients, building a clear understanding of they want from their relationship with a Financial Planner.

“The inter-generational wealth transfer is upon us now, so we need to be on the front foot. We must ensure we can offer appropriate client experiences for the next generation of clients so we sustain our client base for the future.

“Only by securing our own financial futures through a clear focus on attracting fresh talent, building resilient business models and focussing on the client relationship, will our profession be well placed to empower more individuals to manage their money and achieve their financial goals.”