Octopus Money has become an associate member of the Personal Finance Society (PFS), a professional body dedicated to building trust in the financial planning profession.

The membership certifies Octopus Money as a trusted business that upholds the highest standards and ethics. The announcement gives the company a seal of approval, and will give consumers extra confidence when using an Octopus coach.

Caspian Paget, head of coach excellence at Octopus Money, comments: “We want to do everything we can to help lead the way in establishing shared standards for financial coaching in the UK.”

One of the most reputable bodies in the financial services world, the PFS is the longest-established of the Chartered Insurance Institute (CII) societies. More than 5,000 financial advisers in the UK have achieved chartered financial planner status from the PFS.

Members of the society must act in the best interests of clients and demonstrate integrity and fairness. Proper standards and policies – and a clear complaints procedure – are required to protect clients.

Members must comply with the spirit as well as the rules of regulation and employment law. They should operate a clear diversity and inclusion policy, for both staff and clients, as well as a policy of corporate social responsibility.

Last month, the PFS said that its focus for 2022 was to build a strong and sustainable profession, and ensure financial planners continue to empower people to have confidence in managing their finances.