Chapter History:

History of the FPA and its predecessors in Central Indiana (as told by Tom McAllister, Chapter President 1980/1981):

 

At the invitation of a gentleman named Loren Dunton, in late 1969 a group of ten other representatives from various financial disciplines met at the O’Hare Hilton in Chicago. Out of that meeting evolved the International Association of Financial Planners (IAFP); the Certified Financial Planner program and designation; the College for Financial Planning; and the Institute of Certified Financial Planners (ICFP).

One of those ten was Herman W. (“HY”) Yurman, who had been giving talks all over the country on behalf of mutual funds and oil and gas program sponsors. He was named first Chairman of the Board of Trustees of the new College for Financial Planning. Six years later he had become the mentor of two budding financial planners in Central Indiana, Gary Pittsford and Tom McAllister. They became friends as well as colleagues through their mentor Yurman.

After they attended the 1976 IAFP Annual Meeting, Pittsford came up with the idea for an Indiana chapter of the IAFP. McAllister enthusiastically agreed, and the two circulated the idea among their acquaintances. A ten person steering committee was formed and met periodically throughout 1977. In early 1978 a charter was granted from the national IAFP office and periodic meetings were begun.

A local mutual fund company, Unified Management, had been an active advocate of the new chapter and its chairman and owner, Nick Kaiser, was elected our first president. He had facilities and personnel to bring to the table while most of the founding members were one man shops.  Tom McAllister was our second president, and Gary Pittsford served as our third. During the first three years the chapter begun to grow from the initial 25 members and became well established.

Meanwhile the national financial movement continued rapid expansion, with many individuals studying for the test and becoming CFPs. The College for Financial Planning started an alumni association which evolved into the Institute of Certified Financial Planners (ICFP) headquartered in Denver. Tom McAllister was named first chairman of the Indiana ICFP in 1981.

The two entities sparred for some years before merging to form the Financial Planning Association in (approximately) 1988.

From infancy to being a major force in financial services in central Indiana the local FPA group has much to be proud of.

 

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