FSI Adds 2,500 New Financial Advisor Members

July 31, 2012
Regulatory Reform One Step Closer through Industry Unity

In a strong show of support for the Financial Services Institute (FSI), NEXT Financial Group, Transamerica Financial Advisors, Inc. and The Strategic Financial Alliance announced that their collective 2,500 Independent Financial Advisors are now FSI Financial Advisor Members. The Financial Advisors’ first-year membership is offered on a complimentary basis by the firms.

Keith Kelly, FSI’s executive vice president and COO, said: “It’s true that we intentionally grew our Financial Advisor Membership this year, but this isn’t and never will be a membership numbers game to us. This is solely about unifying all Independent Financial Advisors, with various business models, to speak with one voice and bring about healthy regulatory reform, strengthen their businesses and protect their clients. The momentum our Firm and Financial Advisor Members are creating speaks loudly that every Independent Financial Advisor should take control of their future and join the fight to protect their business by becoming an FSI financial advisor member and help us shape our agenda on their behalf.”

“At the core of NEXT culture is the appreciation for our representatives’ participative voice in the governance of our company. It is therefore a natural extension of our culture to encourage and enable our representatives to share their voice in how our industry is regulated,” said Barry Knight, president of NEXT Financial Group Inc. “By promoting representative level participation through FSI membership, we believe we are serving our Representatives, company and industry. No other organization better stands for the voice of independent representatives than FSI.”

“Our industry wants to make sure that the American people have access to financial advisors who will help them with the financial advice, products and services needed to navigate an increasingly complex world,” said Clive Slovin, SFA President & CEO. “We at SFA want to see a healthier regulatory environment for independent financial services firms and their affiliated financial advisors through constructive and effective advocacy. By partnering with FSI, we help ensure that our unique business model is understood and considered in the ongoing debate about regulatory and legislative reform that impacts our business and advisors clients.”

“Now more than ever, firms and their representatives need to be informed and engaged on national and state regulatory matters,” said Seth Miller, president of Transamerica Financial Advisors, Inc. “To that end, TFA feels that providing FSI membership to our representatives gives them a platform by which they can share their opinions, knowledge and insights with policymakers. This constructive communication will continue to help move our industry forward in a direction that is beneficial to both clients and the independent representatives who service their financial needs.”

In addition to advocacy, FSI financial advisor members receive: access to analyses of regulatory and legislative proposals; an Advocacy Action Center to easily communicate with legislators and regulators; opportunities to visit Capitol Hill and state legislatures in efforts to educate lawmakers; and exclusive FSI publications and communications.