Richard M. Ennis will become editor of the Financial Analysts Journal on Dec. 1, succeeding Robert Arnott. Mr. Ennis will remain chairman of Ennis Knupp + Associates, the consulting firm he co-founded in 1981. Mr. Ennis said the timing is propitious because he has been phasing out all but a few of his client relationships over the past year, although he will continue to work at the consulting firm full time. Mr. Ennis plans no major changes in the FAJ's content. He praised Mr. Arnott for returning the journal to its mission of being the leading investment journal for investment practitioners; many chartered financial analysts had complained the journal had become too academically oriented under former editor Gifford Fong. Mr. Ennis said he plans to cultivate leading academics and investment experts and be an international ambassador for the publication.