The Financial Planning Association this week elected Michael Branham as its new president-elect and added three new board members.

Branham, a financial planner specializing in retirement planning, income tax, cash flow and estate planning at Cornerstone Wealth Advisors in Edina, Minn., will assume the organization’s top spot in January 2013. He’s served on the FPA board since 2009 and has chaired its Professional Issues and Financial Integration committees.

In addition, Branham has held leadership positions -- including president in 2008 -- with FPA NexGen, a national organization of young financial planners.                              

The new FPA board members will serve a three-year term beginning in January. They include:

-- Marty Durbin, CPA/PFS of Cleburne, Texas, retired from First Command Financial Planning in 2010 after a 27-year career where he held a variety of leadership roles including chief financial officer, chief of staff, board member, and president/chief operating officer.

-- Pamela Sandy, CFP of Cleveland, Ohio is founder and CEO of CONFIANCE, LLC., a firm that provides financial and investment advisory services to individuals and small businesses.

-- Richard Stumpf, CFP, CEBS, AEP, AIF, MBA is a financial planner with Financial Benefits, Inc., in Wichita, Kan., with dual specialties of comprehensive financial and estate planning for middle-income individuals and small business retirement plans.

Five members of FPA's current board of directors will complete their service at the end of this year. The 2012 Board will be composed of 17 total members, which includes the three newly elected members.

The Financial Planning Association, based in Denver, is the largest membership organization for personal financial planning experts in the U.S.