5 Ways to Use Testimonials & Boost Your Client Experience

Financial advisors have long bemoaned restrictions on client testimonial. But after more than a year since the Securities and Exchange Commission Marketing Rule became mandatory, still only 7% of advisors are using client testimonials.

Many are waiting for the SEC to bring down the hammer on an early adopter or two so there’s more clarity around what will trigger commission’s ire.

In the meantime, however, advisors are missing out on more than the critical social proof needed to show how they offer differentiated value. They’re also missing a powerful method to forge deeper connections with clients and create a more impactful client experience.

The practice of asking clients for their thoughts and opinions, and showing that you value that input is a requirement in a healthy client relationship.

From collecting testimonials to how you showcase and share them, there are several key steps in the testimonial process where you can deepen your relationship with you clients.

1. Practice intentional onboarding.

During your onboarding meeting, once a client has signed their documents, have a short conversation about why they chose you.

What are their intentions in choosing a financial planner and why did they choose you? What was it about you that made them feel comfortable? Is there something that you offered that others didn’t?

If you include a photo release in your onboarding paperwork, this is a great time to take photos, and for clients who aren’t camera shy, doing a quick video where they answer these questions.

The output of these questions is great for your marketing. But the process of asking is great for the relationship.

You’re teaching your client right out of the gate that their opinion and their experience matters. You’re also setting up feedback as an expectation, so they’ll be more likely to share with you what’s going wrong and right in their experience with your firm.

2. Conduct yearly reflections.

During each annual review, make a feedback session part of the agenda. Two things will happen here: You’ll get positive comments you can work with as testimonials, and you’ll get constructive feedback.

Constructive feedback is a gift for you and for the client relationship. If they share with you that your account portal is hard to use or that you haven’t been responsive enough, you can take action to fix the issue and follow up with your client as soon as it’s fixed.