Other Issues on FSI’s Advocacy Agenda

Financial Services Institute / Other Issues on FSI’s Advocacy Agenda
  • Other Issues on FSI’s Advocacy Agenda:

    In pursuit of FSI’s mission, we will maintain and expand our relationships with state and federal policymakers and advocacy allies while pursuing the following additional initiatives in 2017:

    1. Strongly support the expansion of access by all individuals to competent and affordable financial advice, products, and services by supporting the:

    • Preservation of and enhancements to the tax incentives for Americans to responsibly invest for a dignified retirement, the education of their children, the cost of healthcare, and to achieve other financial goals with the help of an independent financial advisor;
    • Streamlining and e-delivery of client disclosure documents;
    • Efforts to lower the cost of financial advice, products, and services while opposing financial transaction taxes that raise the cost of investing for clients; and
    • Efforts to improve the financial literacy of Main Street investors.

    2. Strongly support the growth of the network of independent financial advisors and independent financial services firms by:

    • Supporting comprehensive tax reform for pass through entities and corporations while creating new business opportunities through enhancements of the deductibility of advisory fees and higher contribution limits to 401(k)s, IRAs, 529 Plans, Health Savings Accounts, and other tax advantaged accounts;
    • 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 the adoption of a streamlined point-of-sale client disclosure delivered electronically;
    • Supporting the preservation and improvement of FINRA’s arbitration system;
    • Supporting improvements to FINRA’s BrokerCheck system that avoid the publication of misleading, irrelevant, or unhelpful information about financial advisors;
    • Supporting uniform state and federal cybersecurity regulatory requirements that allow for effective use of member resources while also taking into account the unique nature of the independent business model;
    • Supporting FINRA performing additional retrospective rule reviews that focus on regulatory requirements that unnecessarily burden financial advisors and firms;
    • Supporting the repeal of the TN professional privilege tax;
    • Supporting the development of solutions to regulatory concerns about aging financial advisors before state regulations are thrust upon the industry;
    • Opposing the adoption of required disclosures that demean the work of independent financial advisors through misleading and inflammatory statements concerning their ability to act in the best interest of their clients;
    • Opposing the formation of an unpaid arbitration award pool funded by FINRA members;
    • Opposing legislation designed to impose taxes on financial services, and
    • Opposing a one-size fits all concentration limit on REIT and other DPP investments.

    1The “Advocacy Priorities” are the issues upon which FSI intends to lead the effort to achieve the stated objective.

    2We anticipate working closely with other like-minded trade associations on these issues, but will bring a Main Street focus to the advocacy efforts.

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