The Financial Services Institute (FSI) hosted its annual OneVoice conference at the Sheraton San Diego Resort from Feb. 2 to 4. The conference addressed multiple themes with general sessions and topical tracks including AI, industry trends, innovation, practice management, regulatory and compliance, and risk management.
Dale Brown, FSI President and CEO, joined media representatives for an information session including Christine Byrne, Chair of the Board at FSI and Partner and Wealth Advisor at Back Cove Financial; Adam Malamed, Vice Chair of FSI and CEO of Sanctuary Wealth; and David Bellaire, FSI General Counsel and Executive Vice President.
2025 Accomplishments
Reviewing the advocacy organization’s accomplishments for 2025, Brown pointed out that the year “presented new and different challenges, but we came in prepared. It’s never easy, and never as fast as we’d like, but we’ve learned to play the long game.”
Brown said FSI engaged in litigation as a strategy on the Department of Labor’s (DOL) independent contractor rule. On the same issue, he said the organization engaged at the state level on a similar rule in New Jersey.
Brown pointed out that FSI also engages in thought leadership and is drawing on member support to provide policies for AI. It is also looking to bring the next generation of advisors and leaders into the industry, and for that purpose founded FinancialCareers.org, which he said has gained strong momentum since its launch.
Byrne, who is the third financial advisor and first female advisor to hold the role of Chair, said that, as an advisor in a small office, it gives her “peace of mind to know a group out there understands my business and advocates for me,” pointing out the thousands of advisors like her who similarly rely on advocacy.
Malamed said this is the most significant period of change in the industry in his career, giving AI, the convergence of business models and product evolution as examples of rapid development.
“We have made progress along a wide range of issues,” said Bellaire. “We have protected our members’ independent contractor status from federal and state challenges, used litigation to halt the DOL’s fiduciary rule that was unworkable for our members, and obtained regulatory relief to allow the payment of commissions to the business entities owned and operated by financial advisors.”
Providing a litigation update, Bellaire said that the DOL’s independent contractor rule is on hold, pending the DOL providing a proposed new rule which is now under review by the Office of Management and Budget. FSI is “prepared to continue litigation, if needed,” regarding the DOL’s fiduciary rule.
Advocacy Priorities
Concurrent with the conference, FSI announced priorities that will guide its engagement with federal and state policymakers in 2026. It will continue to engage with policymakers on worker classification rulemaking, support the Modern Worker Empowerment Act and oppose state laws that could undermine independent advisory business models.
Investor access and choice is another FSI priority. The organization said it will continue advocating for regulatory consistency with the SEC’s Regulation Best Interest, support expansion of the accredited investor definition and promote flexible compensation structures aimed at recruiting the next generation of advisors. It also plans to push for broader access to alternative investments and clearer regulatory frameworks for cryptocurrency.
It will advocate for “practical, innovation-first” approaches to AI regulation.
FSI’s priorities also include modernization and innovation, particularly regarding technology. It will advocate for “practical, innovation-first” approaches to AI regulation and is calling for updates to rules governing off-channel communications, electronic delivery and recordkeeping, along with greater alignment of cybersecurity and privacy requirements across jurisdictions.
The organization will continue opposing regulation by enforcement, saying it will advocate for more transparent, principles-based rulemaking grounded in economic analysis rather than enforcement actions.
On investor protection, FSI said it will support “report and hold” measures such as the Financial Exploitation Prevention Act, promote financial literacy, and highlight growing risks of AI-driven fraud and digital scams. It will also advocate for modernizing RIA obligations, promoting proportionate anti-money laundering (AML) requirements for small firms and improving alignment between SEC and state regulatory frameworks.
Technology Survey Results
FSI also released the results of a survey of independent advisors conducted with Broadridge Financial Solutions indicating that a majority of independent financial advisors say their firms’ technology environments are not well equipped to support growth.
The survey found that 68% of advisors are not confident that their technology stacks are optimized for growth, and 30% said access to the right tools could influence their broker-dealer relationships. More than three-quarters of respondents said better technology would materially improve new client acquisition.
Advisors pointed to practical, operational capabilities as the most pressing areas for improvement, led by account opening and onboarding, paperwork automation, client-facing tools and financial planning software.
The study also found that 51% of advisors use generative AI, primarily for client engagement and marketing, with adoption higher among younger advisors and larger firms. Investor interest in non-traditional asset classes is increasing faster than advisor confidence, particularly around cryptocurrency, where more than half of advisors report growing client demand but nearly half say they need to learn more. By contrast, advisors reported higher confidence for alternatives.
Julius Buchanan, Editor in Chief at Wealth Solutions Report, can be reached at julius.buchanan@wealthsolutionsreport.com.
