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Should Advisors Be Worried About Online Reviews? It Depends.

(This article was originally posted on on June 16,2023)

While advisors should be informed and prepared as to risks and compliance issues, the opportunity with reviews is clear.

The “new” SEC marketing rule has been in effect since November 2022. The updated regulation provides clear guidelines around permissible use of testimonials and endorsements for financial advisors. While the regulation isn’t exclusively about online ratings and reviews, to anyone paying attention the opportunity is clear.  

Consumers Love Online Reviews

Testimonials in the form of star ratings accompanied by brief reviews have become the norm…

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