The Personal Investment Management and Financial Advice Association (PIMFA), a trade body for investment managers and financial advisers, has appointed four new board members including Mark Duckworth, CEO of the Openwork adviser network.

The appointments also include senior executives from Schroders, Interactive Investor and Coutts & Co.

The new board members are:

Mark Duckworth, who has served as chief executive of Openwork since 2015. He joined the company as a commercial development director in 2010.

He said: "PIMFA is a standard bearer in our industry and its mission to enable firms to deliver the best service to clients echoes Openwork's own.

“I am extremely proud to be joining its board and look forward to adding my passion and expertise to PIMFA’s great work; enabling more member firms to advise more clients on creating and protecting their wealth."

Peter Hall, global head of wealth management for Schroders, previously held leadership roles in Wealth Management at UBS, Barclays and Tilney. He started his career in corporate finance at Warburgs after graduating in Politics, Philosophy and Economics from Oxford. He has an MBA from INSEAD, France.

He said, “PIMFA is the key association for the wealth management industry so I am delighted to join the board and try to help address our key issues.”

Richard Wilson, chief executive at Interactive Investor, has 25 years’ experience in retail and wholesale banking and broking financial services. He spent several years with Societe Generale CIB in various roles in London, New York and Paris, including Finance, Operations, CTO and Data.

He said: “I look forward to bringing my own consumer platform perspective to the board to help shape the future direction of the sector and improve access for consumers. We must never lose sight of what this industry should be about - improving outcomes for the customer and we are fighting for this.”

Stuart Newey, managing director and head of client service & delivery at Coutts & Co, began his career in retail banking before joining Coutts & Co in 1999. He has undertaken a variety of senior management roles in wealth management, banking and change management. He has an MBA from Warwick and is a Fellow of the Chartered Bankers Institute.

PIMFA chief executive Liz Field said: “I am delighted that we have been able to appoint such high-calibre candidates. Their combined experience and expertise will be invaluable to the work we are doing.”

PIMFA was created in 2017 by the merger between the Association of Professional Financial Advisers (APFA) and the Wealth Management Association (WMA).