Win New Clients with Digital Trust
Online Reviews = Social Proof
Social Proof = Winning New Clients
[Guest Article from Whit Lanier, CEO – Amplify Reviews]
The financial advisory industry doesn’t exactly have a reputation for innovation. In line with that reputation, it’s no surprise that advisors may literally be the last industry to embrace online reviews as a powerful tool for social proof.
But late is better than never, and that opportunity has arrived with the “new” SEC Marketing Rule. And what looks like an opportunity today will become imperative before long, so wise advisors will stay ahead of the curve on this trend and reap disproportionate benefits as a result.
The Rules Have Changed — And So Must Your Thinking About Marketing
In case you missed it: the SEC finally updated its Marketing Rule, and for the first time in decades, advisors are allowed to use testimonials in their marketing — as long as they follow the rule’s compliance guidelines. This change opens the door to something every other industry has relied on for years: online reviews as a credible, scalable form of trust.
This is a fundamental shift. For decades, advisors have grown through referrals and word of mouth. Testimonials are the digital evolution of that same strategy — but instead of relying exclusively on individual, private referrals, online reviews provide you with always-on social proof that works while you sleep and pays near perpetual dividends. When combined with Bill Cates’ referral best practices, you get an amplified social proof which is significantly more influential than referrals alone.
Advisors Who Embrace Reviews Early Will Have the Advantage
There’s a window right now where being early to this trend offers a clear edge. Prospective clients are already trained to look for reviews in every other area of their lives — from restaurants to realtors to doctors. It won’t be long before they expect the same from their financial advisor. The only question is: when they search for you, what will they find?
The advisors who are proactively collecting and publishing compliant testimonials today are setting themselves apart from their peers. They’re building digital trust before the first meeting. They’re demonstrating proof of value, not just claiming it. And they’re doing it in a way that’s both professional and fully within regulatory bounds.
Compliance Isn’t the Obstacle — It’s the Opportunity
Let’s be real: a primary reason most firms haven’t jumped into online reviews yet is because they assume it’s a compliance nightmare. But the reality is, the updated SEC rule gives you a clear playbook — and tools now exist to help you follow it to the letter.
When you use a system built for the advisory world (rather than an ad hoc campaign or a generic review platform), compliance isn’t a blocker — it becomes your differentiator. It shows that your firm cares about doing things the right way while still adapting to how modern clients make decisions.
What This Looks Like in Practice
Forward-thinking firms are already taking action. For example, some are using closed-loop platforms to collect verified client testimonials, review them for compliance, and then publish them directly on their website. In some cases, they’re attributing comments to individual advisors while still rolling up the ratings to the firm level — offering both personalization and unity.
The results? Dozens (or even hundreds) of 5-star reviews, a powerful SEO lift, and a clear edge in the decision-making process when prospects are comparing advisors or firms online. Not to mention the internal boost that comes from advisors hearing in their own clients’ words just how valuable their work is.
This Isn’t a Fad — It’s the Future
The advisor world may have been late to the reviews party but make no mistake: this shift is permanent. In a few years, client testimonials will be as standard on advisor websites as team bios and service menus. The firms that start now will not only be ahead of the curve — they’ll help define it.
The good news? You don’t need to be flashy or tech-savvy to benefit. You just need to start. Because the longer you wait, the more your (potential) future clients will be reading someone else’s reviews instead of yours.
Want to get more online reviews that boost credibility and interest? Check out Amplify Reviews.
Check out The Language of Referrals:
https://referralcoach.com/language-of-referrals/
Learn more about our 1:1 coaching programs
www.CoachCates.com
Start Multiplying Your Best Clients with The Cates Academy™
Learn Bill Cates’ Proven Process to Attract More of the Right Prospects
The Cates Academy for Relationship Marketing™ is a comprehensive online video-training program that will help you generate significantly more income in less time. Work smarter, not harder!
Get the details and join us: www.CatesAcademyIndividuals.com
