AI by industry · Financial advisors
Reviews and testimonials for financial advisors
Reviews are valuable for advisors, but the rules on testimonials and endorsements in advertising are real, and they differ by registration type and what the review says. Check with compliance before asking. If you do ask, make it simple, never reward it, and never reply in a way that reveals anything about a client’s accounts.
Talk through your practice with the person who builds it
A free 30-minute call. You leave knowing which part of your financial advisor to hand to AI first, what we would build, and roughly how long it takes.
Start with compliance
Some firms ban soliciting reviews. Others allow it with disclosures. Third-party review sites add further questions. Get your firm’s policy in writing.
If your firm allows no solicitation, do nothing. Let your profile fill in on its own and keep notes on feedback that arrives by other routes.
If it is allowed, keep it simple
A single request after a milestone, such as a completed plan, works best. AI can send it and track responses. It should never write the review for the client.
Never edit or suggest wording. The words must be the client’s.
Reply with care
Thank reviewers in general terms. Say nothing about their finances. If a reviewer complains, move the conversation to a private channel.
Keep records of any reviews you reply to, since communications may need archiving.
Picture this
Examples of what it can look like. Illustrations, not clients.
After completing a client’s first financial plan, your firm’s approved message asks for feedback.
A reviewer thanks the team for patience. The reply thanks her without mentioning her situation.
A prospect asks to see reviews. You show your Google profile and note what your firm allows.
The rules that apply, in their own words
“must be fair and balanced, and must provide a sound basis for evaluating the facts”
“It is an unfair or deceptive act or practice and a violation of this part for a business to write, create, or sell a consumer review”
Sources
- 16 CFR Part 465 (FTC rule on reviews and testimonials): The ban on fake, bought or suppressed reviews.
- FINRA Rule 2210: Communications with the Public: The rule for broker-dealer marketing and client messages.
- 17 CFR § 275.206(4)-1 (SEC Marketing Rule): The rule for investment adviser ads and testimonials.
- 15 U.S.C. § 45 (FTC Act, Section 5): The federal ban on unfair or deceptive business practices, ads included.
Talk through your practice with the person who builds it
A free 30-minute call. You leave knowing which part of your financial advisor to hand to AI first, what we would build, and roughly how long it takes.
Questions
Can I post reviews on my website?
Maybe, with disclosures and under your firm’s policy. Ask compliance.
What if a client posts something that breaks the rules?
Tell compliance. Do not edit or engage with it yourself.
Can I respond to a review at all?
Often yes, within firm policy and in general terms. Ask compliance for a standard reply.
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