- Distinguished Alumni Service Award (2010)
- School of Dentistry Certificate of Appreciation (1976)
Searles is first vice president of investments and senior financial adviser at Merrill Lynch in Indianapolis. For IU, he has served as national chairman of the IU Alumni Association's Board of Managers as well as president of the national board of directors of the IU Varsity Club.
Searles is a member of the Dean's Advisory Board for the IU Jacobs School of Music, of the IU Foundation board of directors, and of the IU Center on Philanthropy's board of visitors.