Financial Advisors Can Finally Embrace Client Testimonials

It has been common knowledge for independent financial advisors and RIAs that client testimonials and endorsements are a "no go" area. While seemingly every other business in the world can have 5-Star ratings and glowing recommendations plastered all over their websites, Yelp, Google, and their LinkedIn accounts... wealth managers have had to tell their clients and referral partners "Thanks but I can't accept your testimonial or endorsement due to regulatory constraints."

Well, thanks to recent rule changes by the SEC the world has changed. And as you'll hear Brian Thorp from Wealthtender explain in the latest episode of the Modern Financial Advisor Podcast, advisors can now embrace their clients' testimonials and endorsements from their referral partners.

 
Brian and I also dive into some additional opportunities for advisors and firms to boost their online marketing presence as well. I'm particularly fond of the concept of choosing a solution oriented niche to serve such as specializing in helping clients with crypto portfolios. Great stuff!

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Disclosure
The information, analysis, and opinions expressed herein are for general information only. Nothing contained in this podcast is intended to constitute legal, tax, securities, or investment advice, nor an opinion regarding the appropriateness of any investment, nor a solicitation of any type. The statements contained herein are based upon the opinions of third-party sources. Information obtained from third party sources is believed to be reliable but not guaranteed. All opinions and views constitute the judgments of the author(s) as of the date of recording and are subject to change at any time without notice. 

Resources Related to this Episode:
Below is a list of resources mentioned in this episode or related to the topics we discussed: 

• SEC Marketing Rule: Promoting Testimonials and Endorsements to Attract New Clients - Here is an outline of the SEC rule changes and what they mean for your use of testimonials and endorsements.
• 22 Financial Advisor Marketing Tips to Attract New Clients - Brian and the team at Wealthtender crafted a fantastic guide for advisors and RIA firms to help boost your marketing performance.
• Financial Advisors for Immigrants & Foreign Nationals - We talk a lot about niche marketing on the Modern Financial Advisor Podcast. This article on the Wealthtender blog outlines how some advisors are serving clients with specific life situations.