Other Issues on FSI’s Advocacy Agenda

Additional Advocacy Issues

In pursuit of FSI’s mission, we will work with state and federal policymakers and advocacy allies in pursuing these additional advocacy initiatives:

  1. Strongly supporting the expansion of access by all individuals to competent and affordable financial advice, products and services by:
  • Streamlining client disclosure documents, statements and other materials;
  • Simplifying the process of obtaining client consent to deliver documents in electronic format;
  • Supporting improvements to FINRA’s BrokerCheck system that avoid the publication of misleading, irrelevant or unhelpful information about financial advisors;
  • Supporting the tax deductibility of investment advisory fees;
  • Supporting the Broker Protocol’s continued viability;
  • Lowering the cost of financial advice, products and services while opposing financial transaction taxes that raise the cost of investing for clients; and
  • Improving the financial literacy of Main Street investors.
  1. Strongly supporting the growth of the network of independent financial advisors and independent financial services firms by:
  • Supporting the preservation of financial advisors’ and financial services firms executives’ ability to participate in the political process without running afoul of pay-to-play prohibitions;
  • Supporting efforts to simplify and clarify firm and financial advisor obligations surrounding outside business activities and remote supervision;
  • Supporting the continued use of pre-dispute arbitration agreements in client agreements;
  • Supporting the preservation and improvement of FINRA’s arbitration system;
  • Supporting state and federal efforts to provide resources and guidance on cybersecurity regulatory requirements and risk management efforts that allow for the effective use of member resources while also taking into account the unique nature of the independent business model;
  • Ensuring regulators in possession of personally identifiable information are held to the same standards of cybersecurity as the entities they regulate;
  • Supporting efforts to eliminate disincentives to accurate reporting of the reasons for a financial advisors’ termination of affiliation with a firm;
  • Supporting the repeal of the Tennessee professional privilege tax and other state-specific tax burdens impacting financial advisors;
  • Opposing legislation that creates or advances the implementation of mandatory state or city-run retirement plans; and
  • Opposing legislation designed to impose taxes on financial services or independent contractors.

Who to Contact

David Bellaire, Esq.
Executive Vice President & General Counsel
202 803-6061
Email David