The Financial Services Institute continues to add to its rolls.
IEP Financial and Cetera Financial Group announced that 500 of their affiliated financial advisors are now new FSI members. Congruent with FSI's growth strategy since its inception in 2004, the financial advisors' first-year membership is offered free by the firms.
Tampa-based IEP Financial is run by longtime industry veteran John Simmers, who formerly ran ING's network of broker-dealers. Coincidentally, the private equity firm Lightyear purchased the network of three broker-dealers from ING in 2010, and rebranded them Cetera. Cetera is now run by Valerie Brown (left), another industry vet.
"IEP Financial is pleased to provide continued support for FSI and our brethren independent broker- dealers, Simmers said in a statement. "Having served as past chairman of the board for FSI, I know firsthand the passion and commitment this fine organization offers with respect to thought leadership and industry advocacy."