The new chairman of the National Association of Personal Financial Advisors wants to make the organization the home for the growing number of advisers who are migrating to the registered investment adviser sector.
NAPFA announced last Wednesday that Linda Leitz, co-owner and founder of It's Not Just Money Inc. of Colorado Springs, Colo., has been selected as its national chairman for the next year. Her term began Sept. 1 and will end Aug. 31.
Ms. Leitz said that NAPFA's emphasis on fee-only advice that is in a client's best interests positions it well for the way the market is evolving as more and more brokers make the transition to being investment advisers.
“We see NAPFA as their community where they can learn how to do a fee-only-fiduciary comprehensive approach to financial advice,” Ms. Leitz said.
Another priority for Ms. Leitz is to develop subgroups within NAPFA that will help its approximately 2,400 members connect with those who have similar practice models or who are at the same stage of their careers.
For instance, any NAPFA member who is 33 or younger becomes part of NAPFA Genesis, an initiative aimed at young advisers.
The organization's database also helps solo practitioners connect with one another.
“These people can find each other easier within the way we're setting this up,” Ms. Leitz said.
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