NAPFA announced it elected a new chair, Lauren Locker, CFP, to fill the position recently vacated when another advisor who was set to take the reins stepped down due to a regulatory paperwork glitch.
Locker, who founded Locker Financial Services, LLC in Little Falls, New Jersey in 1992, assumed the post effective immediately, according to a release by NAPFA.
Two weeks ago, Ron Rhoades, a prominent spokesman in the investment-advisor fiduciary movement resigned after learning he had made a registration filing error. Rhoades' resignation over the filing error prompted one leader of the fiduciary movement earlier today to call on NAPFA publicly to rescind its decision to accept Rhoades' resignation.
Locker was licensed as a CFP practitioner in 1994 and joined NAPFA in 1998. She is the immediate past-Chair of NAPFA’s Northeast/Mid-Atlantic Board and previously served on NAPFA’s National Board for the past two years.
According to the release, Locker will focus on promoting the NAPFA brand, professional education, and promoting NAPFA’s fiduciary effort nationally.
"The current debate regarding oversight and regulation of our industry presents NAPFA members with a unique opportunity to bring their commitment to the fiduciary standard to the forefront," Locker said in the press release. "Our members already pledge to employ full disclosure, transparency and accountability in every interaction with every client. We can’t let uncertainty about regulatory issues cause us to lose that all-important focus.
"We need to forget about ‘business as usual,'" Locker added, "and begin to think in terms of business as it should be: to meet the needs of the public who have their eyes open and their expectations set high.”