Iowa-headquartered Foster Group, an independent, fee-only financial advisory firm, has made organizational changes including a raft of executive promotions.

Founder and chief executive Jerry Foster has assumed a new role as chairman of the board, while president Mark Stadtlander becomes CEO. The firm said Foster will serve in an advisory and accountability role, while serving as a mentor to the firm’s leaders.

In addition, shareholders Travis Rychnovsky, Buck Olsen and Kent Kramer have been appointed as chief operating officer, chief marketing officer and chief investment officer, respectively.

Meanwhile, Ross Polking, COO of the Omaha, NE, office, and lead advisors Joe Bantz and Brad Rempe have been named shareholders. Katie Lauer of the firm’s client services team is now an associate advisor.

Foster Group has over $1.1 billion in assets under management  for 800 clients and was founded in 1989.