Lauren M. Schadle has resigned as CEO and executive director of the Financial Planning Association and will be replaced with an interim chief while a permanent successor is sought, the FPA announced today.
Patrick Mahoney, who has experience as an executive in the profit and nonprofit sectors, will take over immediately, leading the day-to-day management of the association, the FPA said.
Mahoney currently provides strategic leadership consulting to global organizations focused on market relevance, innovation, and growth, the FPA said. A past chief marketing officer for the Institute of Electrical and Electronics Engineers (IEEE) and former president and CEO of GlobalSpec, an IEEE company that provides news, data and analytics to the engineering community. Mahoney brings marketing, business development, and financial oversight to the organization, the FPA said.
The move comes amid continuing declining membership for the national organization, which recently underwent a complete reorganization of its structure and brand. The FPA board of directors will begin an immediate search for Schadle’s permanent replacement, FPA said.
Tension has existed for years between the national FPA organization and the 86 independent chapters spread across the country. Starting in 2018, the FPA rolled out an ambitious plan to centralize the organization, parts of which were enacted. However, local chapters balked at rolling their budgets into a centralized budget system that was designed to simplify accounting.
FPA’s more than 22,000 members have access to a wide array of services and events planned by the local chapters and the national association. A national conference held each year draws industry leaders and advisors from across the country. Earlier this month, FPA announced its new website and branding effort.
Schadle said in an article she authored in April, “While FPA offers a robust set of services and programs nationally and through our network of 88 chapters and state councils, we need to face the truth that the landscape for national voluntary professional membership associations has changed dramatically. Simply doing business the way we have been will not get us where we need to be as an organization. Here’s the reality about voluntary professional membership associations like FPA.”