When they talk, you’ll listen

In these nail-biting times, advisers need to know who the big shots are. They can’t assume that the old ideas will work, and they need to know whom to listen to.

While some agents of change get a lot of time on camera, often the most powerful people are behind the scenes, making big things happen, swaying opinion, moving the chess pieces around so that people and businesses can prosper and develop in the most sensible way.

The InvestmentNews 20 is a group of people who will have a big influence on the financial services industry in 2010, for good or ill. The things that they say and do, the decisions they make, and their blunders, are going to affect how you do business.

These people don’t run major corporations. They are regulators, congressmen, investor advocates and executives who are widely respected in the industry. But regardless of their title or whether they have a corner office, these are clearly people that other people listen to. And these are people you need to know, whatever your role in the financial services industry.

Bernard Madoff and R. Allen Stanford did not make our list, but we thought about it. There is no question that the fallout from the arrests of these two men will have serious repercussions for all financial services professionals. For that, let’s give them an “honorable” mention.

The collective knowledge of InvestmentNews’ editors and reporters determined who made the list. The process was not an easy one, especially with the changes going on in the industry and in Washington.

You may not agree with the methods, actions or behavior of some people on the list, but there is no question that each of them will influence the financial services industry — and even your business — next year.

Jim Pavia is the editor of InvestmentNews.