FSI’s mission is to ensure that all individuals have access to competent and affordable financial advice, products, and services delivered by a growing network of independent financial advisors and independent financial services firms. Our top advocacy priorities1 include:
Issues of Significant Concern to Clients
- Prevention of Financial Exploitation of Vulnerable Adults: Strongly support state and federal legislation and regulation that allows our members’ to protect their clients from financial exploitation without violating privacy obligations or exposing financial advisors and firms to liability.
- Expansion of Access to ABLE Act Accounts: Strongly support state and federal efforts to promote the expansion, availability, and usefulness of ABLE Act accounts to families with disabled children.
- Fiduciary Duty: Strongly support the adoption of an SEC developed fiduciary duty for financial advisors affiliated with broker-dealers who provide advice to retail investors. The fiduciary duty should protect clients’ choice among financial advisors, products, services, and the means of compensation.
Issues of Significant Concern to Independent Financial Services Firms & Advisors
- Independent Contractor Fix: Strongly support a permanent fix to unwarranted legislative and IRS scrutiny of the independent contractor business model.
- Commissions to Ensemble Practices: Strongly support the rational payment of commissions and other revenue to ensemble, Super-OSJ, and other enterprise level practices to facilitate efficient business operations and compliance with tax law requirements.
- Ensuring a Level Playing Field: Strongly support broker-dealer and investment advisor regulatory harmonization through third-party exams, a fiduciary standard of care, and support for other uniform regulatory requirements.
Issues of Significant Concern to the Financial Services Industry2
- DOL Fiduciary Rule: Strongly support legislative, regulatory, and judicial efforts to dismantle the Department of Labor’s Fiduciary Rule in order to preserve Main Street access to independent financial advice.
- Financial CHOICE Act: Strongly support adoption of The Financial CHOICE Act or other legislative solutions to preserve access to and choice among financial advisors, products, and services while reducing the impact of regulation on advisors’ ability to serve their clients.
- State/City-Run Retirement Plans: Strongly oppose legislative efforts that will establish state, city, or county retirement programs that deny clients the benefit of financial advice and compete against independent financial advisors.
In addition to the top priorities listed above, our Advocacy Team follows a number of issues impacting our industry. CLICK HERE for additional issues on our advocacy agenda.
Our Advocacy Action Center is designed to help you get involved with simple but effective steps. Write a comment letter, call your representatives in Congress, contribute to the FSI PAC or print and send an issue briefing or a white paper. Take action now.