Can financial advisors use testimonials or reviews?

Rules governing testimonials and endorsements in this profession are detailed, have changed in recent years, and carry specific conditions including disclosure requirements, oversight obligations and recordkeeping.

Do not rely on general marketing guidance for this question, including this answer. The requirements differ by registration type and by firm, several conditions apply simultaneously, and the consequences of getting it wrong are regulatory rather than reputational.

What this means practically:

• Confirm current requirements with your compliance function before any use, including before asking a client for anything.
• Assume unsolicited reviews also raise questions. Whether and how you may respond, or even acknowledge one, may be governed. Have a policy before it happens.
• Do not import practices from other industries. Review-generation advice written for local businesses does not transfer here.

What practices build credibility with instead: a clearly defined audience, stated credentials and professional background, transparency about compensation and process, and content demonstrating how the advisor thinks. In a category where persuasion is constrained, clarity becomes the competitive advantage.

This is general marketing information, not compliance guidance. Requirements differ by registration type, firm and jurisdiction, and change over time. Confirm anything in this area with your compliance function before acting on it.