Shaping the Future: FSI Board Chair Tim Stinson on Advocacy, Engagement, and Industry Growth

Tim Stinson, the President of Cetera Advisor Networks, has served on the FSI Board for five years. During that time, he’s grown to appreciate that while it may be a big industry with firms of different sizes serving various constituencies, everyone generally wants the same thing and it’s not to eliminate regulations. Instead, it’s to get results that are in the best interest of the end client.  

“There’s not a single firm within our membership that doesn’t want some level of regulatory oversight,” he said. “We just want that oversight to be sensible and promote our ability to serve Main Street investors. Every firm wants that in one way or another.”  

He says clients want the same thing, noting that this alignment among all the industry’s key stakeholders is what makes financial services unique. As Stinson prepares to serve as FSI Board Chair this year, he says he is especially mindful of it during conversations with other firm presidents and CEOs. 

FSIVoice had a chance to speak with Stinson recently. Here’s a sampling of our conversation.  

FSIVoice: What do you think is the biggest challenge the industry faces today?  

Stinson: The biggest issue I see today is firms collectively focusing their resources in a way that will take advantage of all the opportunities we have before us, given all the changes in the political environment in Washington, D.C., and what that could mean for the regulatory landscape in our industry. It will be more important than ever for everyone to speak with a unified voice and move the needle on issues relevant to the financial advice profession and the people it serves.  

FSIVoice: In a year from now, when you look back at your time leading the Board, what do you want to say you accomplished?  

Stinson: This may sound like a modest goal, but it’s not because it reflects the reality of engaging in constructive advocacy. I’d like to say we were able to deepen relationships with members of Congress and key regulators in Washington and across the country. Notably, I’m not necessarily saying we will get immediate results – even as that’s the end goal. But I do want us to influence the way policymakers think about our priorities and allow them to gain a greater appreciation of why they are important to millions of Americans. Change in Washington happens slowly – too slowly. Yet, the first step in achieving meaningful change is to capture the right people’s attention.   

FSIVoice: What excites you most about the industry’s future?  

Stinson: It’s probably how our profession is adapting to the realities of the marketplace and changing demographics. There’s never been a time in history when advice, guidance and coaching were the unquestioned core values of the industry. Products and solutions are quickly becoming commoditized. Everyone, for the most part, has access to the same ones. But our ability to provide Main Street Americans with tailored, holistic advice and coaching that makes a profound difference in their lives will allow us to shine. The advisors who consistently deliver those sorts of personalized services and the firms that support them have a very bright future. 

FSIVoice: What’s the one thing FSI provides that members don’t appreciate as well as they should?  

Stinson:  Sometimes it’s easy for complacency to set in. This is true in our industry and in everyday life. And what I mean by that is that members are highly engaged when our issues are in the headlines whether it’s the independent contractor rule or the fiduciary standard. But when there’s a lull in activity, I think there might be the temptation to think that FSI is sitting back and waiting for the next shoe to drop. Nothing could be further from the truth. While the team is respectful and always tries to be constructive in our advocacy, our outreach is constant. So, I just want everyone to know how hard FSI is working all the time to get results.