Momentum continues to build for the Financial Services Institute with the addition of 150 new members from Capital Investment Companies.
FSI, an advocacy organization for independent financial services firms, said the move confirms that the organization is continuing to build influence and approaches its goal of industry unity.
Grassroots engagement is critical to our advocacy success, Dale Brown, the president and CEO of FSI said in a statement. So our collective voice is getting stronger and more influential. The momentum our members are creating speaks loudly that every independent financial advisor should join the fight to protect their business by becoming an FSI member.
The organization, which was founded in 2004, currently has over 100 financial services firm members and 35,000 financial advisor members.
Capital Investment Companies, which has about 210 brokers spread around 15 states, joined as it looks to give its advisors a broader voice on upcoming regulations, such as proposals for a universal fiduciary standard, Richard K. Bryant, Capital Investment's president, said.
"I joined it for my reps," he said in an interview. "In my mind it's past time for them to be advocates, but it's never too late, and we all need to be heard."
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