With many issues surrounding the Dodd-Frank Wall Street Reform and Consumer Protection Act set to come to a head in the next year, advocacy is more important than ever for industry groups like the Financial Services Institute (FSI), says President and Chief Executive, Dale Brown.

FSI's sole purpose is to advocate on behalf of independent broker-dealers and independent investment advisors it represents. But that effort is even stronger now, as the Securities and Exchange Commission could implement a new fiduciary rule for all retail investment advice. The Department of Labor may also expand its definition of fiduciary advice tied to qualified retirement plans.

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