The National Association of Personal Financial Advisors announced Monday that NAPFA CEO and Executive Director Ellen Turf will leave the fee-only planning organization on Aug. 31, 2013.
Turf, 60, told NAPFA leaders about her plans to leave in a letter written in early October, which gives the organization nearly a year of lead time to find her replacement. She explained that her decision to leave is part of a life plan that she and her husband established with the help of their financial planner.
The announcement comes on the heels of a shakeup on NAPFA’s board in August, when Ron Rhoades voluntarily resigned from his chairman-elect position due to a compliance violation at his firm, ScholarFi, based in Alfred, N.Y. Lauren Locker, founder of Locker Financial Services in Little Falls, N.J., was elected in September to replace Rhoades as NAPFA chairman.
“Ellen has been the bedrock of the NAPFA organization for many years now,” Locker said in a statement on Monday. “Her ability to weigh and balance the needs of the various constituents of our organization has allowed us to grow and thrive during her tenure. She has been a leading advocate for the fiduciary standard throughout the industry and has been tireless in promoting NAPFA’s brand.”
A search committee that the NAPFA board formed after receiving Turf’s letter will conduct a national search for the next CEO/executive director.
“NAPFA turns 30 in 2013 and it’s hard to believe I’ve been a part of it for more than two-thirds of that time,” Turf said in a statement. “I have great pride in the accomplishments of the organization under my tenure. To be a part of so many meaningful moments at the organization, and watch the growth of a profession I love, will have no equal in my career.”
Turf was named to NAPFA’s top position in January 1999 after beginning her career with the organization in 1992 when she joined NAPFA staff as a part-timer. Part time grew to full time within months, and Turf has held virtually every position with the organization. She now plans to spend time with her husband, travel and enjoy being a grandmother.
“Our members will sorely miss her enthusiasm, graciousness and benevolence. We applaud Ellen’s foresight in proactively planning her life’s next chapter and we wish her the very best as she explores new options,” Locker said.
Read NAPFA Elects Lauren Locker to Replace Ron Rhoades as Chair at AdvisorOne.com.