The Atlanta-based Financial Services Institute, or FSI, says the industry group’s board of directors has unanimously elected Brian Murphy, chairman of Woodbury Financial Services of Woodbury, Minn., as the 2008 chair of the board. Murphy succeeds John Simmers, CEO of ING Advisors Network.
Eric Schwartz, chairman and CEO of Cambridge Investment Research of Fairfield, Iowa, and a founding director of FSI, will be vice chair for 2008. In addition, four new directors were elected by the board for terms beginning January 2008:Michael Bewley, vice chairman and CEO of Wall Street Financial Group in Fairport, N.Y.;
William E. Dwyer, III, managing director and president of LPL Independent Advisor Services in Boston, and San Diego;
Michael J. Mungenast, president and CEO of ProEquities, Inc. in Birmingham, Ala.; and
Mary Sterk, CFP, president of Sterk Financial Services in Sioux City, Iowa.
Members of the 15-person FSI board of directors are elected annually for a one-year term which is renewable up to four consecutive years.
Established in January 2004, FSI has 112 broker-dealer members and 8,100 financial advisor members.