In a town hall-style meeting with attendees at the 2012 FPA Retreat in Scottsdale, Ariz. on Sunday, the organization’s CEO and executive director, Marv Tuttle, announced his departure from the organization—sort of.
“I’ve been your CEO now for eight years and I’ve been speaking with the board about a succession plan,” he said. “They agreed to a two-year extension of my contract until June 2014, at which time I will retire from the position.”
Tuttle said he would like to continue with the organization, which has an annual budget of $13.2 million and approximately 60 staff members, but from the standpoint of “outside looking in, rather than inside looking out.”
In an interview following the announcement, Tuttle (left) said his “dream job” would be to act as an ambassador for the organization and profession with financial programs offered at colleges and universities, noting the high engagement and interaction he recently enjoyed with students on a tour of colleges.
He said the board will go into “search committee mode” in the second half of 2012 to identify potential successors, and will most likely begin the process after the August board retreat.
When asked about his greatest accomplishment during his tenure, Tuttle said there are “so many things. Before the development of the CFP Board, I took the lead in promoting the CFP mark as the industry’s designation. I’m also proud of the fact that I had a hand in taking the Journal of Financial Planning from something that was essentially slapped together to a pretty descent practitioner publication that has raised the bar on academic research in this field. Lastly, I’m proud of the work we’ve done with the Foundation for Financial Planning post 9/11, which is a great pro bono organization.”
Tuttle said his successor will need to be someone who is strong in promoting advocacy among the organization’s members, as well as someone that will be a spokesman for the profession not only with regulators, but with corporations as well.
“I think corporations will begin to see the benefits of financial planning for their employees, and will hire practitioners to help them with that.”
Tuttle believes it would also serve the organization if its next leader had the CFP designation.
“I’ve been around so long I feel as though I’m a quasi-practitioner, but it would help if my successor could blend the leadership qualities with the CFP mark.”
When asked about his greatest disappointment as the organization’s leader, Tuttle took a long pause before answering.
“I wouldn’t say it’s a disappointment, but I would have liked to have had more time to put the merger [of the Institute of Certified Financial Planners (ICFP) and the International Association for Financial Planning (IAFP)] together. It could be said that the opening of the Atlanta and Denver offices were somewhat haphazard. If I could do it over again, I would definitely incorporate the lessons I learned from that.”
He concluded that one goal before he departs is to increase membership by 5,000 in the next year.
“We have 23,400 members and there are 65,000 CFPs. Now, they might not all use the CFP in their daily business activities; that number might only be 35,000. But I at least want to identify that number and increase membership and then I we might say, “Okay, we’re done with this, let’s move on.”
Check out AdvisorOne’s full coverage of 2012 FPA Retreat.