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Financial Services Institute

Financial Services Institute / Financial Services Institute

Independent Financial Advisors & Firms Make United Voice Heard on Capitol Hill

May 23, 2014

WASHINGTON, D.C. – More than 100 members of the Financial Services Institute (FSI) converged on Capitol Hill Thursday, meeting with nearly 200 members of Congress and their staffs on the most critical issues affecting the industry and investors’ access to affordable, objective financial advice.

During their time on the Hill, the independent financial advisors and senior executives from independent financial services firms met with their elected officials to discuss the keys issues of:

  • Preserving small investor access to financial advice and the ability to earn a commission on IRA advice (the pending Department of Labor fiduciary rule)
  • Protecting advisors’ independent contractor status ensuring they will not be forced to become employees of their broker-dealers
  • Preserving tax incentives to help hard-working Americans save for retirement

“It is critical that members of Congress hear directly from our members who are also their constituents,” said FSI President & CEO Dale Brown. “These meetings are an opportunity for lawmakers to hear directly from the experts who help Main Street Americans achieve their financial goals. Our members are able to share real-life experience as to how the decisions elected officials and regulators make impact every-day Americans.”

FSI’s independent financial advisor members serve more than 15 million American households. They are affiliated with independent financial services firms who serve more than 160,000 independent financial advisors.

About the Financial Services Institute (FSI): The Financial Services Institute (FSI) is the only organization advocating solely on behalf of independent financial advisors and independent financial services firms. Since 2004, through advocacy, education and public awareness, FSI has successfully promoted a more responsible regulatory environment for more than 37,000 independent financial advisors, and more than 100 independent financial services firms who represent upwards of 160,000 affiliated financial advisors. We effect change through involvement in FINRA governance as well as constructive engagement in the regulatory and legislative processes, working to create a healthier regulatory environment for our members so they can provide affordable, objective advice to hard-working Main Street Americans.

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