The Chartered Insurance Institute, or CII, has announced that it will undertake a review of the structure and workings of the Personal Finance Society to accommodate and adapt to the market changes proposed by the Financial Services Authority Retail Distribution Review.

The CII has announced that Personal Finance Society (PFS) CEO Tim Eadon has decided to leave the organization to pursue other interests in the financial services sector.

Sandy Scott, CEO of CII Group, said: We are very grateful for the tremendous work Tim has done for the PFS. He now leaves the PFS financially sound and with its membership rising. I, and everyone who has worked with Tim at the CII and PFS, wish him well and every success for the future.

Mr Eadon added: My time at the PFS has been a fulfilling experience. Its membership has risen to 24,500, with 1,400 of these chartered financial planners, since I became CEO, and the number of chartered firms is on the increase.