Calling 2022 eventful would be an understatement. The pandemic lingered, Russia invaded Ukraine, interest rates and inflation spiked, and financial markets slumped. And that was just the first couple months of the year.
Later, the Department of Labor acted, putting into question the independent contractor status of our members, while the midterms shifted the balance of power in the House of Representatives.
As we look forward to 2023, we asked some of our members to reflect on the year gone by and share their professional priorities for the one ahead. Here’s a sampling.
Dale Brown, President & CEO, FSI
“I have two overarching resolutions for 2023 – one for my role as FSI’s leader and the other a personal goal.
“First, I want to continue being an effective and supportive leader for my team and organization as we move into what I hope is a post-COVID-19 environment. My resolution is to ensure that our team has the resources and assistance to achieve the organization’s goal of being tireless advocates for independent financial advisors.
“Second, as someone who values diversity and inclusivity, I want to continue learning about and valuing the perspectives of people with different backgrounds and views.”
Scott Spiker, Chairman, First Command Financial Services Inc.; 2022 Vice Chair and 2023 Chair of the FSI Board
“I want to work with FSI leadership to ensure they are supporting all firm and advisor members by anticipating the most important industry trends and providing them with forums to discuss and debate those trends. I also want to provide FSI’s membership with the opportunity to anticipate and respond to important regulatory issues that will shape their business. Finally, I hope to help expand FSI’s business model to include those who have interests aligned with the financial services industry.”
Gwen B. Garrison, President, LifePlan Financial Advisors; 2022 Excellence in Advocacy Award recipient
“I want to do whatever I can to recruit, train, promote and advance women and minorities within our industry so people can work with advisors who reflect their own experiences and backgrounds. I believe this will help to expand the number of investors our industry can help because more would-be clients will feel accepted, valued and heard, which is a win-win for everyone.
“I also want to be the best person I can be, working hard to advocate for my loved ones, colleagues and clients. In addition, I will strive to support those in my community by listening and interacting with grace, compassion, wisdom, affection and kindness.”
David Burg, Managing Principal, First Harbor Financial Services; 2022 Excellence in Advocacy Award recipient
“I want to continue to support FSI, as well as Raymond James Financial Services, in engaging the Department of Labor. Its recent rule filing may not target our industry, but it will surely impact it. The Department needs to recognize and clarify once and for all that independent financial advisors want to independent contractors. Advisors in this space deliberately chose independence, and they should be able to remain that way.
“I also want to increase client contact in 2023. The first two years of the pandemic significantly impaired in-person meetings. It’s been nice to see clients again and continue fostering those important personal relationships.”
Teri Bockting, Vice President of Human Resources, Cambridge Investment Research Inc.; 2023 Chair of FSI’s Human Resources Council
“I want to continue creating new opportunities for members of our Cambridge family to stay informed and engaged. When associates are happy, clients tend to be happy as well. So, firms like ours must be deliberate in efforts to ensure employee satisfaction and loyalty.
“We also want to streamline processes and provide simple — but effective — technology solutions to help our financial professionals and associates reclaim time, which is the most valuable resource of all.
“I also want to ensure that we give more by working with the many organizations in our business, like FSI, and within our communities to drive change and make a difference in the industry.”
Josh Borkin, CFO, Farmers Financial Solutions LLC; 2023 Chair of FSI’s Accounting & Finance Council
“I would like to create new professional networking connections and being on the FSI Accounting and Finance Council will be a great opportunity to achieve this goal. I would also like to increase my industry knowledge by attending two or more conferences so I can remain apprised of current trends. Finally, I hope to read books on professional development. This deviates from my inclination to read leadership books.”
Kristy Haley, Chief Compliance Officer, Cetera Financial Group; 2023 Chair of FSI’s Investment Advisory Services Council
“My goals for 2023 are to continue to navigate and interpret new regulations, such as the SEC Marketing Rule and the new proposed outsourcing rule — 206(4)-11 — with a focus on helping advisors understand their day-to-day business needs.
“I also want to continue helping Cetera advisors by helping them meet their goals and providing support so their clients can reach theirs.”