The Financial Services Institute announced Thursday that Derek Bruton and Seth Miller have been elected to its board of directors.

“Their proven leadership and experience will be a valuable asset to the Board, as we continue to pursue our mission of creating a healthier, more business-friendly regulatory environment for independent financial services firms and independent advisors to thrive," Dale Brown, president and CEO of FSI, said in a statement.

Bruton is the managing director and national sales manager at LPL Financial, where he is responsible for business development and business consulting for all LPL Financial independent advisors and RIAs. Prior to joining LPL Financial, Bruton spent several years in the financial services industry working at TD Ameritrade, Merrill Lynch and Charles Schwab.

“FSI has developed into an influential and rapidly growing advocate for independent advisors with both legislators and regulators,” Bruton said. “I am pleased to bring my custody and broker/dealer experience to this distinguished group of talented leaders on the FSI Board, and to represent the strong voice of LPL Financial, as we work together to promote the interests of investors and our industry.”

Miller, the president of Transamerica Financial Advisors, also has an extensive leadership background within the industry, having previously served in other leadership roles within Transamerica.

“Now more than ever, firms and their affiliated independent advisors need to be informed and engaged on national and state regulatory matters, and FSI is our collective voice in Washington and the states,” said Miller. “I’m thrilled to join the FSI Board of Directors as we endeavor to keep making a positive difference for firms, advisors and the clients we mutually serve.”

Bruton and Miller will replace Bill Dwyer, formerly of LPL Financial, and National Planning Holdings’ Jim Livingston, respectively, both of whom resigned from the Board earlier this month, keeping the FSI Board at 16 Directors.

Dwyer and Livingston resigned after making personal career changes which affected their eligibility to serve on the Board.