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!