Cetera Advisor Networks President Tim Stinson is the new board chair for the Financial Services Institute as the broker/dealer advocacy organization prepares for changes in federal regulations with the incoming Trump administration.
The FSI Board of Directors also welcomed four new members. Including Undivided Wealth Management President and Managing Partner Gary Baker, Commonwealth Financial Network Chief Regulatory Affairs Officer Robert Molinari, Broadridge Financial Solutions President Chris Perry and First Command Financial Services President and CEO Mark Steffe.
In addition to Stinson, the board elected several current members to its executive committee, including Christine Bryne, a partner and wealth advisor with Back Cove Financial, as vice chair. She will succeed Stinson as chair in 2026.
Osaic President and CEO Jamie Price became the immediate past chair, while Client Centric Advisors Managing Partner Von Cook will chair the finance committee. Kestra Financial President Stephen Langlois will chair the Institute’s political action committee, which oversees political donations.
According to FSI President and CEO Dale Brown, the new members are a “diverse group of leaders” committed to the Institute’s mission for a “healthier, more business-friendly regulatory environment” for the wealth management industry.
“The leadership of our board is essential as we address the opportunities and challenges that face our industry, including a new incoming administration and Congress, evolving regulatory requirements and tapping into the next generation of talent and investors,” Brown said.
Some of the individuals departing the board this year include Mary Beth Hofmeister, a registered principal with Sage Financial Associates; Doug Ketterer, CEO and founding partner of Atria Wealth; and Marc Squires, senior vice president and head of wealth and brokerage platforms at Fidelity Investments.
The FSI specializes in lobbying and advocating for b/ds regarding federal and state regulation and litigation, and the new board leadership is set to encounter a significantly different regulatory tenor from Washington, D.C., in the coming year.
Current SEC Chair Gary Gensler previously announced he will step down from his post on the same day Donald Trump begins his second non-consecutive presidential term.
Gensler and the FSI were frequently at loggerheads. The organization lambasted what it felt was an onerous pace of new regulations and accused the commission of practicing regulation via enforcement rather than rulemaking.
Trump has named former SEC Commissioner Paul Atkins his choice for SEC Chair. After serving at the commission during the George W. Bush administration and departing in 2008, Atkins founded Patomak Global Partners and has become a prominent figure in conservative economic and legal circles.
In interviews with and statements of experts across the ideological spectrum, Atkins was lauded and derided as a “well-respected leader in the securities industry,” an “interesting thinker,’ and a “deregulation zealot and industry cheerleader.” But whatever one’s thoughts on Atkins, there’s little doubt he’ll bring a significantly different mindset to the SEC than Gensler.
Industry advocacy organizations will also face a new Labor Department Secretary; Trump’s nominee is former Oregon Rep. Lori Chavez-DeRemer.
In the past year, the FSI has spoken out in opposition to numerous proposed and finalized DOL rules under the Biden administration, including its rule concerning independent contractors and the latest iteration of the fiduciary rule, which is currently stalled by a decision in the Fifth Circuit Court of Appeals.
