An email to Tenet members did not specify a replacement for Richards (pictured), who oversees group distribution as well as development at the firm’s directly authorised and appointed representative branches.
Tenet executive chairman Martin Greenwood said: “Keith has made a significant contribution to Tenet during the last nine years and was a key driver in supporting the group’s transition to the post-RDR world.
“His insight and influence will be a loss to the business and I would like to thank him for his valuable contribution and commitment. We wish him every success in the future.”
While at the network, Richards was key to negotiating a number of professional indemnity insurance deals for members through Tenet’s subsidiary Paragon Insurance.
Richards confirmed his appointment at the PFS to replace Fay Goddard who plans to retire in April.
Keith Richards, said: “I am excited to be taking up this role as in the current financial climate consumers need advice they can trust more than ever before. I believe we are building a profession that can thrive and secure the confidence of the public and I am looking forward helping shape the future of financial planning.”
