Cover photo for Lee Pennington's Obituary
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1930 Lee 2022

Lee Pennington

October 3, 1930 — January 31, 2022

Lee Doyal Pennington passed away peacefully January 31, 2022 with his family and three dear friends at his bedside.

He was born October 3, 1930 to Lee and Fannie Pennington in Oklahoma City, Oklahoma and grew up in the oil field camp where his father worked. He graduated from Crooked Oak High School and went to Connor A&M Junior College on a football scholarship. He joined the Marine Corps and served 1950-1953, including a year on the front lines of the Korean War where he was a demolition and mine warfare specialist. While in Korea, he supplemented his military pay with poker winnings which he sent home. After Korea, he was sent to Hawaii to play baseball for the Marines, and then was assigned to Camp LeJeune, NC where he taught mine warfare and demolitions.

After his Marine Corps service, Lee returned to Oklahoma City where he worked in a store selling women's shoes. He then entered the financial services field where he held several positions in life insurance sales and management. Lee entered the nascent financial planning profession in 1968. Lee was a visionary and pioneer of the financial planning profession. He was the third CERTIFIED FINANCIAL PLANNER in Texas in 1974 and among the first 80 in the US. He and Mark Bass began working together full time in 1973 in what became Pennington, Bass & Associates, a financial planning firm with clients in 26 states. He was passionate about loving and caring for his clients and passed that passion on to his PBA colleagues as well as the hundreds of financial planners he mentored. He contributed to the design of the Personal Financial Planning program at Texas Tech University which is now widely regarded as the leading PFP program in the country.

Lee served two terms on the national board of the International Association of Financial Planners (the predecessor organization to the current Financial Planning Association). He spoke at numerous national and regional conferences and was quoted in a variety of local, regional, and national publications. In 2000, he received the John B. Keeble Award for Integrity and Excellence in financial planning.

He married Beth Feather June 5, 1960, undoubtedly the best sale of his life, and they have enjoyed 61 years together. Lee and Beth have been residents of Lubbock since 1961 other than an eighteen month period in the 1960s when they lived in Waco.

Lee was a long term active member, deacon, and Sunday School teacher at Second Baptist Church. He was instrumental in the development of the Second Baptist Church Columbarium where his ashes will be interred. He was a former board member of the Lubbock Symphony Orchestra, Hospice of Lubbock, and Ronald McDonald House, among others, as well as a member of the investment advisory committee of the Ranching Heritage Center Endowment Fund and longtime member of the Texas Tech University Chancellors Council.

His warm dimpled smile, outgoing personality, positive attitude, sense of humor (not always politically correct), focus on goals, and love of children are among his enduring and endearing characteristics.

He is survived by his wife Beth, daughter Diantha Roberts (and husband Sam), daughter Penni Pennington, two grandchildren Whitney Roberts (and husband Chris Rauschuber) and Nathan Roberts, and two great grandchildren Luca and Jude Roberts. His family was the love of his life.

The family wishes to express its gratitude and appreciation to Carillon House and Hospice of Lubbock for their compassionate care.

A memorial service will be held Friday February 18th at 2:00pm at Second Baptist Church in Lubbock. It will be livestreamed at and will be available afterwards on the website

In lieu of flowers, Lee designated the following charitable organizations as preferred recipients of any memorials (or give to a charity of your choice).
Second Baptist Church
6109 Chicago
Lubbock, TX 79424
Pennington/Bass Financial Planning Endowed Scholarship with check payable to Texas Tech Foundation, Inc.
College of Human Sciences
PO Box 41162
Lubbock, TX 79409

To order memorial trees or send flowers to the family in memory of Lee Pennington, please visit our flower store.


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