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.