{"id":5495,"date":"2021-02-25T10:43:09","date_gmt":"2021-02-25T10:43:09","guid":{"rendered":"https:\/\/emoneyadvisor.com\/?post_type=thought_leadership&p=5495"},"modified":"2021-04-01T13:59:28","modified_gmt":"2021-04-01T13:59:28","slug":"how-to-collect-testimonials-for-your-financial-planning-practice","status":"publish","type":"thought_leadership","link":"https:\/\/emoneyadvisor.com\/blog\/how-to-collect-testimonials-for-your-financial-planning-practice\/","title":{"rendered":"How to Collect Testimonials for Your Financial Planning Practice"},"content":{"rendered":"

Think about how you purchase something. Do you tend to reach out to friends or family for a recommendation? Do you seek the opinions of other like-minded individuals and their reviews when you consider adding something to your cart?<\/p>\n

Whether it’s a tube of mascara, a bottle of wine, or a mortgage lender, peer reviews are an important piece of how people buy today.<\/p>\n

Changing with the Times<\/strong><\/h2>\n

During the last month of 2020, the Securities and Exchange Commission (SEC) announced reforms under the Investment Advisers Act of 1940<\/a>, essentially modernizing the principles that govern marketing and communications of financial services.<\/p>\n

The revision to the Investment Advisers Act of 1940 recognizes that the profession of financial advice, along with the technology and advertising methods, have changed greatly and require a new rule to accommodate evolving needs.<\/p>\n

Chief among these changes is the ability for financial professionals to use client testimonials in their marketing materials, subject to certain conditions.<\/p>\n

The Online Marketplace<\/strong><\/h2>\n

In a recent blog, I discussed a buyer\u2019s digital journey<\/a>\u2014emphasis on digital\u2014because so many of our interactions today take place online. It seems any answer is just one search bar away on your mobile device, computer, laptop, tablet, etc. And in a recent consumer survey we found that 42 percent of adults would start the process of researching an advisor using search engines like Google.1<\/sup><\/p>\n

So, if creating a digital presence is important, then knowing what to show and how to show it should also be given considerable thought. Your digital presence needs to convey what clients can expect when working with you.<\/p>\n

For a financial professional, testimonials provide an excellent opportunity to deliver a compelling message straight from a client to their peers.<\/p>\n

The Art of a Testimonial <\/strong><\/h2>\n

What makes testimonials so great? They help to showcase the client experience in a trusted, objective way. An effective testimonial will illustrate what clients can expect when working with you and what it feels like to be a client, or even demonstrates how you and your firm meets their needs.<\/p>\n

To make this a successful vehicle to help you drive brand awareness and build buyer confidence, consider the following list to determine which clients you would like to proposition:<\/p>\n