Marvin W. Tuttle Jr., the Financial Planning Association's chief executive and executive director, will step down as the organization's leader when he retires on May 31, 2014.

Tuttle, 57, announced his retirement at the 2012 FPA Retreat in Scottsdale, Ariz., on Sunday.

Tuttle joined the Institute of Certified Financial Planners--one of two groups that combined to form the FPA--in 1983 and worked to help create the Journal of Financial Planning, which he considers one of his greatest accomplishments at the organization. Tuttle has held a variety of positions at ICFP and FPA in communications, marketing and as publisher/editor of the Journal of Financial Planning. He was named head of the FPA in January 2004.

Denver-based FPA is the nation's largest membership group for personal financial planning experts. But its membership base of 23,400 is down from its peak of 28,000. Tuttle says some members have had a hard time accepting some of the stands the FPA has taken on needed fiduciary standards and on the right to file suit against the SEC.

He says the FPA needs to continue to provide education for financial planners and to conduct outreach to the community, among other initiatives, in order to grow in the future. Tuttle expects the FPA to become a national and world leader in the financial planning community.

"I am very proud of our work after 9/11 to start pro bono efforts to serve the needy," Tuttle says. "The vast majority of the 95 chapters now have a pro bono committee and I am proud of that because of the impact it has had on the community."

Tuttle says it will take some time for the Board of Directors to conduct a search for a replacement and he wanted to be part of the search, which is why he made the announcement so far ahead of time. He also wants time to work on initiatives now underway at FPA.

In 2011, the FPA conducted an in-depth organizational review that focused on governance, strategic priorities and leadership structure, including succession planning. The FPA Board unanimously approved an extension to Tuttle's contract, extending his tenure to 2014. The extension put his total service to the organization at 31 years.

The FPA Board said it will start the search for Tuttle's replacement in late 2012 to early 2013.