It was just two months ago that Financial Planning Association President Paul Auslander was suggesting that the organization was ready for fresh views on its future—a new chief executive, for example, didn’t necessarily have to come from within the financial advisory industry, he told REP.
But when the FPA announced a successor this week for outgoing CEO Marvin Tuttle Jr. (right), it didn’t go far. Lauren M. Schadle, the group’s chief operating officer and associate executive director, will assume Tuttle’s job on Oct. 3.
The news was a surprise; Tuttle has said he planned to retire in 2014. A release by the group said the time was moved up so he could handle issues at home. The board of the Denver-based 23,500-member organization undoubtedly had planned on a more leisurely search for his successor.
Schadle has a long history with the group. She joined its predecessor, the Institute of Certified Financial Planners, in 1996 and was named COO six years ago.
Here’s the organization’s announcement:
The Financial Planning Association (FPA) announced today that Executive Director/CEO Marvin W. Tuttle, Jr., CAE, will be stepping down from his leadership role on October 2, 2012. Tuttle had originally announced a 2014 retirement date but the timing was adjusted so he could focus fully on family concerns. The FPA national board unanimously appointed Lauren M. Schadle, CAE, as Executive Director and CEO, a role she will officially assume on October 3, 2012.
“While I had intended to complete the two-year contract extension approved by the Board last November, it has become increasingly obvious that I am not able to optimally provide focus and leadership to FPA at a very critical time in its history,” said Tuttle. “I look forward to supporting Lauren’s transition into the executive director position. She’s a very capable and accomplished association executive and enjoys the respect of the FPA staff and financial planning community.”
Tuttle began his career with the organization in 1983 when he joined the Institute of Certified Financial Planners (ICFP), one of two groups that merged to form FPA in 2000. He held a variety of positions at ICFP and FPA and was elevated to his current position in 2004. Tuttle has been instrumental in the development of numerous programs at FPA and is recognized as a leading voice in the ongoing development of the financial planning profession.
Schadle joined ICFP in 1996 and led efforts in communications, marketing and membership. In 2006, she was promoted to Associate Executive Director and Chief Operating Officer of FPA.
FPA 2012 President Paul Auslander, CFP®, praised Tuttle’s tenure. “Marv Tuttle’s influence extends far beyond FPA and his importance in shaping the profession will be felt for decades to come. His legacy will be as a true collaborative leader, a steady hand that led many through tumultuous times and part of the foundation and soul of FPA. His unmatched insight and presence will be sorely missed by us and countless others, yet we fully respect and support the difficult decision he made.”
The board leader also recognized the continuity Schadle will bring to the organization. “Lauren is the perfect combination of operational and strategic savvy; cultural understanding of both FPA and the financial planning community; and the long-standing respect of her staff, peers and professionals. Our confidence in her abilities is extremely high and she brings tremendous passion, energy and vision to lead FPA into its next phase.”