The Financial Planning Association said Monday that its interim CEO, Patrick D. Mahoney, will become its permanent leader beginning January 2021, officially taking the reins of the membership group for Certified Financial Planners and other financial planning professionals.
“It has been my privilege to lead FPA over the past several months,” said Mahoney in a statement. “I look forward to continuing to help FPA serve its members, advance its mission, and advocate for the distinguished financial planning profession it’s our honor to serve.”
Previously, Mahoney was head of advisory firm Stoic Advisors in Groton Long Point, Conn.
Mahoney took up his new role in May following former CEO Lauren Schadle's abrupt departure.
The FPA declined to comment on the reason for Schadle’s departure. However, one of its members, Michael Kitces, detailed in a Twitter thread why he thought it was long overdue. Kitces cited flat membership growth and declining revenue.
The CEO search committee included leaders from the FPA. Vetted Solutions, an executive search firm for associations and nonprofits based in Washington, D.C., assisted the process.
“Over the past six months, we embarked on a robust search process. At the end of this process, the CEO Search Committee ultimately recommended to the Board that the best decision for the association was to select Patrick for the full-time role,” said 2020 FPA President Martin Seay. “In his time at FPA, Patrick has instituted sound business policies and principles that have positioned the association for long-term success.”