The New SEC Ad Rule Is In Effect: Everything Financial Advisors Need To Know

The new SEC ad rule is here! The new rule updates the advertising restrictions of financial advisors to accommodate for advancements in marketing and communication technology.

And with the new rule comes new marketing opportunities. To help advisors and other financial professionals navigate the change, we’ve created a roundup toolkit of marketing strategies and resources. This post is the first in our new series to celebrate the new SEC ad rule. Make sure you sign up for blog updates to keep up with the changes!

The content in this blog post is the result of Twenty Over Ten’s interpretation and Twenty Over Ten is not a compliance expert. Information herein should not be considered legal advice and financial advisors should consult with consult the appropriate authorities as needed including the SEC.

Since the new rule was announced in late 2020, we’ve been discussing new marketing opportunities. Below is a collection of all of the strategies and resources that have become available thanks to the SEC ad rule.

For convenience, we’ve gathered all of our resources under the following categories. Feel free to explore the list or go to the section that interests you the most.

New Marketing Opportunities

The SEC’s new advertising rule has created many new marketing opportunities for advisors. The following resources will help you navigate these opportunities to help you quickly decide which options work best for your firm.

1. SEC AD RULE WEBINAR

In this webinar, Samantha Russell, Chief Evangelist of Twenty Over Ten and FMG Suite, and Max L. Schatzow, Esq. of Stark & Stark discuss legal compliance and possible marketing opportunities created by the new rule.

In the video, you’ll learn more about the SEC and some of the marketing opportunities created by it. You’ll learn more about:

1. Google reviews.
2. Social media.
3. Client videos.
4. Testimonials and your website.
5. Repurposing reviews.

2. THE SEC’S NEW MARKETING RULE: 5 KEY OPPORTUNITIES FOR ADVISORS

Playing off of the webinar above. This post is a how-to approach for leveraging the 5 new marketing opportunities created by the SEC ad rule. Within you will find creative ways to use each new marketing opportunity.

For example, looking for different ways to use testimonials on your website? Why not create a blog series, pop-up, or testimonial landing page like the one shown below? FMG Suite and Twenty Over Ten have launched new tools in response to the modernized rule to help advisors showcase their client testimonials.

 

How To Get More Reviews and Testimonials

The ability to use reviews and testimonials in your marketing is one of the best features of the new rule. The use of reviews and testimonials in other industries is common-place. But for advisors, acquiring reviews is new territory.

Reviews are part of your online presence which impacts SEO and audience opinion. To maximize your review opportunities we focused our efforts on 2 key platforms, Google and social media.

3. 7 WAYS TO OPTIMIZE YOUR GOOGLE MY BUSINESS LISTING

This post will show you how to optimize your Google My Business listing, which can improve Google search ranking and make it easier for clients and visitors to locate and contact your firm.

It’s an important step to establishing a digital presence. And under the new SEC ad rule, even more so as Google is one of the first places visitors will go when looking for or writing reviews.

This is because Google My Business acts as a digital billboard for your business information. It contains your location, hours, reviews, description, etc. A Google My Business listing appears on the right side of a Google search result page related to the business.

Here’s an example of a Google My Business listing for WealthKeel LLC:

4. SEO FOR FINANCIAL ADVISORS: EVERYTHING YOU NEED TO KNOW ABOUT GOOGLE REVIEWS

Positive reviews qualify your business to visitors and reinforce your digital presence. But they aren’t just used for marketing or to attract new customers. Google confirms that reviews also play a role in  your local SEO:

This post will show you the importance of Google reviews and how the new SEC ad rule can help improve your website’s SEO.

5. HOW CAN FINANCIAL ADVISORS GET MORE GOOGLE REVIEWS? 6 SIMPLE STRATEGIES

According to Bright Local, 87% of customers read online reviews:

That’s a staggering number that emphasizes the need for positive reviews. But it’s not just the quality of reviews that matters, it’s also the quantity.

More reviews help qualify your services to potential clients and reduce the volume of any negative reviews. This post will show you 6 actionable methods to acquire more Google reviews.

6. THE DIGITAL REFERRAL SHIFT: USING ONLINE REVIEWS AND SOCIAL MEDIA TO BOOST YOUR RECOMMENDATIONS

Traditional advisor marketing relies on referrals from personal connections. But with the advancement of technology, many individuals now also turn to online resources to determine the best course of action.

Review sites and search engines are used to find local advisors that fit the searcher’s needs. After all, when you were last looking for a product, where did you turn to? This post shows advisors how they can leverage review and social media platforms to improve their brand perception.

7. WHAT IS SOCIAL PROOF? PLUS 5 EASY WAYS FINANCIAL ADVISORS CAN USE IT IN THEIR MARKETING

When people are unsure of a decision, they may turn to those around them to determine their next step. This process is referred to as social proof.

For example, social proof could be multiple positive reviews, a shoutout from a celebrity or a recommendation from a friend, as shown in the social media post below:

For advisors, testimonials and reviews can act as a form of social proof. This post will break down social proof further, and show advisors a few ways to leverage it on social media.

How To Incorporate Reviews and Testimonials on Your Website

Once you have reviews, you’ll want a method for applying them to your website. The following three resources provide a few ways to include them. Here’s a quick summary of what you can find in this section:

8. HOW CAN FINANCIAL ADVISORS USE TESTIMONIALS ON THEIR WEBSITE

The following video provides a few ways to incorporate testimonials on your website and in your marketing strategy.

9. WEBSITE ENGINE’S NEW TESTIMONIAL PAGE TEMPLATE

Today we launched a new template for Website Engine users that gives advisors the ability to quickly and easily showcase their client testimonials on a landing page on their website. Check out a sample of the template below. Not a customer yet? Get started today for free, no credit card required!

10. 5 WAYS TO LEVERAGE THE SEC ADVERTISING RULE CHANGE [EBOOK]

To help advisors take advantage of the new rule, we’ve created a quick ebook providing 5 new ways to leverage the ad rule change. You’ll learn to:

The steps within this book can help improve your online presence, including factors like SEO and social media performance. Click the button above to get your copy.

More Resources To Come

Throughout May, we will be releasing weekly tips, techniques and resources for advisors as part of our new SEC ad rule series. Be sure to sign up for our email list and bookmark this to stay in the know.

Related: 10 Biggest Website Mistakes Financial Advisors Make