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Financial Planning > Behavioral Finance

Wells' FiNet Indie Advisors Join FSI

By Emily Zulz

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Wells Fargo Advisors Financial Network, the independent brokerage arm of Wells Fargo & Co, announced that their 1,250 independent financial advisors are now Financial Services Institute members.

The financial advisors’ first-year membership, which is usually $99 per person, is offered on a complimentary basis by the firm.

Kent Christian, the president of Wells Fargo Advisors Financial Network, applauds FSI’s advocacy efforts as a reason for their complimentary membership.

“We are committed to our membership in FSI,” Christian said in a statement. “Their advocacy efforts are imperative to the independent broker-dealer channel, and we believe their efforts should be front and center with our affiliated financial advisors.”

As part of their advocacy efforts, the lobbying group holds FSI Capitol Hill Day & National Discussions every year. This year, on May 12-14, all FSI members are invited to spend a full day as citizen lobbyists advocating on Capitol Hill.

Dale Brown, FSI’s President & CEO, says everything the organization does is aimed at increasing its advocacy success.

“Regulators and lawmakers pay attention when our members, their constituents, are engaged in the policymaking process,” Brown said in a statement. “Once again, our collective voice is growing 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.”

In addition to advocacy, FSI financial advisor members receive access to analyses of regulatory and legislative proposals; opportunities to visit Capitol Hill and educate lawmakers; access to FSI’s Financial Advisor Summit and exclusive FSI publications and communications. FSI also has an Advocacy Action Center and all-in-one mobile app that members can use to easily communicate with legislators and regulators, as well as keep up with industry news.

Initiatives like free first-year memberships have helped FSI steadily increase the number of individual members, which has doubled since 2011 when firms started offering complimentary memberships to their advisors. FSI has grown to more than 37,000 independent financial advisors.

The group also has more than 100 independent financial services firms who represent upwards of 160,000 affiliated financial advisors.

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