20-Year Journey of Advocacy and Change: Dale’s Letter to Members

We launched FSI 20 years ago to give a voice to independent financial firms, advisors and the Main Street clients they serve. Before then, not many in Washington, D.C., or statehouses around the country appreciated the impact of the independent advice profession and how it benefited investors.  

The financial crisis made it harder to clarify that message during our early years, with some conflating our industry with problems on Wall Street. Still, we have worked tirelessly to overcome the perception, emphasizing that our members serve Main Street families. Our message underscores the role independent financial services firms and advisors play in their communities across the country helping hard-working Americans save for retirement and achieve their financial goals.  

Now, more policymakers than ever before keenly understand what makes our industry unique and appreciate the significant contributions independent advisors make to their communities. One key for that reason is you. 

The Strongest Advocates 

Our members are not just part of the industry – you are our strongest advocates. When policymakers hear directly from real people who offer practical solutions to real problems, they listen. But more than that, they are also more likely to take action.  

An excellent illustration of this dynamic at work is the most recent recipients of the Stephen R. Kareta Excellence in Advocacy Awards. Named after a model FSI member who sadly passed away in 2020, this year’s honorees highlight the best of what FSI represents. They are:  

• Mike Pedlow, Executive Vice President & Chief Compliance Officer, Kestra Financial  

• Frank Tauches, Supervising Principal, American Portfolios Financial Services  

• Matthew Watts, Senior Vice President, Raymond James Financial Services  

I thank them all for supporting our mission and look forward to working with them in the future. I hope you’ll read more about their contributions, along with those of the other members of our 2024 Advocacy Circle of Excellence Honorees. 

My Own Eyes  

Given the state of American politics, which has become too toxic and tainted by excessive grandstanding on both sides of the aisle, I can understand why some of you are reticent to get involved in advocacy. Still, I believe engagement gets results.  

I’ve seen it happen with my own eyes too many times to believe otherwise, including at our just-concluded Capitol Hill Day. Every time we welcome members to Washington to meet with elected officials and their staffs, some level of wariness exists.  

Some will ask, will they really listen to what I have to say? The answer invariably is ‘yes.’ Lawmakers care about and respond to meetings with their constituents.  

Please consider joining us in 2025 for our next FSI Forum & Capitol Hill Day. Advocacy is most effective when it’s a collective effort, and together, our voice is almost impossible to ignore.  

Thank you for your support and engagement.  

Thanks, 

Dale