Financial Services Institute, the advocacy organization for independent financial services firms and independent financial advisors, has tacked on more than 2,500 advisor members with the addition of NEXT Financial Group, Transamerica Financial Advisors and The Strategic Financial Alliance as first-year members.
FSI member firms are affiliated with nearly 180,000 financial advisors, with a mission to create a more responsible regulatory environment through advocacy, public awareness and education. FSI members are given access to analyses of legislative and regulatory proposals as well as opportunities to visit Capitol Hill to educate lawmakers as well as exclusive FSI publications and communications materials.
"Now more than ever, firms and their representatives need to be informed and engaged on national and state regulatory matters," Transamerica President Seth Miller said, "TFA feels that providing FSI membership to our representatives gives them a platform by which they can share their opinions, knowledge and insight with policymakers."
FSI was established in January 2004 and to-date has 125 financial services firm members and over 34,000 financial advisor members. "This isn't and never will be a membership numbers game to us. This is solely about unifying all Independent Financial Advisors, with various business models, to speak with one voice and bring about healthy regulatory reform, strengthen their businesses and protect their clients." Keith Kelly, FSI's executive vice president and COO, said.
Kylie Hennagin writes for Financial Planning.